Find where to buy & sell Cryptocurrencies in SA
As more of Bitcoin and cryptocurrency casinos are on the rise, South African punters certainly want to know more about this digital currency and have lots of questions about buying and selling Bitcoins. While South Africa does not currently regulate cryptocurrencies, the Reserve Bank’s position on virtual currencies is set out in the Position Paper on Virtual Currencies issued in 2014.
As part of its first steps to regulate crypto assets such as Bitcoin and Ethereum, the SA Reserve Bank in January 2019 released a consultation paper on crypto assets for public comment (see a PDF copy here).
To play slots and casino games at Bitcoin casinos you have to buy BTC, LTC, ETH, BTCH and other such currencies from cryptocurrency exchanges. If you would like to be in full control of your bitcoin once you have used an exchange, you can withdraw your bitcoin from the exchange to your personal bitcoin wallet.
Cryptocurrency exchanges in South Africa
There are a number of South African platforms that sell and buy Bitcoin and other cryptocurrencies. Here are few most reputable ones.
Luno: Luno allows users to buy and sell digital currencies such as Bitcoin The platform also announced its expansion into 35 new markets across Europe. Luno is a Bitcoin exchange with a presence in South Africa, Singapore, Nigeria, Malaysia and Indonesia. It offers 0% fees for market makers, meaning you can avoid fees if you place a buy order then wait for a seller to take it. Luno also offers an Instant Buy feature. It is one of the most trusted Bitcoin exchanges in Asia. Only thing is you cannot store BTC here. Luno also has an App for mobile trading which you can find at app stores for Android and iOS.
iceCUBED : iceCubed offers Bitcoin and Litecoin trading to South Africans, Nigerians and more. The platform is perhaps one of the few local exchanges trading the Ethereum currency. It also allows its users to buy and trade in bitcoin and a wide variety of other cryptocurrencies, with altcoins such as Ethereum, Litecoin, Dogecoin, Zcash, Bitcoin Cash, Neo, Monero, Ada and Dash. IceCUBED also have an App for Android which you can download from Google Play.
LocalBitcoins.com is a website where you can find people near to you who are also looking for buyers and sellers of bitcoin. You can advertise that you would like to buy or sell bitcoin, and you can trade with other users of the localbitcoins website. Trades can happen on the website using escrow and bank transfers, or you can meet the buyers in person and trade cash.
DoshEx launched a cryptocurrency exchange platform in August 2018 that aims to help those it helps develop cryptocurrency and blockchain solutions to buy and sell digital tokens and claims to have already done work for Virgin Money SA.
Ovex is another Cape Town based cryptocurrency exchange.
Few other cryptocurrency exchange you can use to buy Bitcoins are Coin mama, Coin corner, Bitit, Mycelium local trader, Changelly and others.
There are a number of cryptocurrency price indices. Two of the more well-known ones are The World Coin Index and Brave New Coin. The World Coin Index sources price information and news on over 400 cryptocurrencies The platform is connected to more than 35 cryptocurrency exchanges.
Brave New Coin is a blockchain and digital currency market data company that publishes technical analysis and research. The platform tracks over 300 tokens in real-time to produce API’s and blockchain data tools for developers, traders and enterprise.
To know the price and latest news on cryptocurrencies in South Africa you can connect to Bitcoin Hub, a South African news site, while Bitcoin Africa covers the whole of Africa. For international news and views check out New York based Coindesk which claims to reach over 5 million unique visitors and Cointelegraph, a US online news site that has been covering cryptocurrency since 2013.
Cryptocurrencies is widely used in South Africa beside online casinos. Various companies like Stellenbosch based Custos Media Technologies embeds Bitcoin tech in screener or review copies of video content, allowing studios to track infringers and fight piracy. Downloaders can claim a bounty if they ID other pirates. The tracking technology has been applied to both movies and ebooks. Another Stellenbosch based startup, The Sun Exchange ordinary people to purchase solar panels using a “blockchain-based” payment system, with Bitcoin. Bankymoon introduced a blockchain-enabled electricity meter, allowing people to pay for utilities with Bitcoin. The service has also delivered these meters to needy schools, allowing anyone around the world to pay for their electricity with cryptocurrency.
Centbee is a Bitcoin wallet which provides merchants with a QR code that Bitcoin holders can scan using their smartphone to make payments. Ubu aims to provide a basic universal income for all using cryptocurrency. In simple terms it acts as kind of Groupon for businesses looking to promote products and services to customers registered with its app. Using the Ubu token, users that are registered on the platform can purchase products and services from those vendors signed up. Once registered, users will get 100 Ubu’s tokens for free every day “for perpetuity”.
Bitcoin online casinos of South Africa
As said above there are many South African friendly online casinos that offer Bitcoins as payment mode to play real money slots, table games, live casino and sports betting. Some of the popular ones are as follows:
- Deposit & withdraw funds at Springbok Casino using Bitcoin, by NETELLER
- Powered by Real Time Gaming & available in Download, Flash and Mobile.
- Claim an exclusive R300 Free Bonus + R11,500 Welcome bonus to start!
- More than 200 online casino games, including all the table favourites and a range of top-notch themed slot
- Yebo Casino has now included Bitcoin as a secure banking option for SA players!
- Deposit & Withdraw in Bitcoin via their Download, Flash and Mobile versions
- Claim a R100 Trial bonus + R12,000 Free when you sign up at Yebo
- Operating on the RTG casino software, they offer more than 350 exciting games!
24 VIP Casino
- The licensed by the Government of Curacao and regulated by Curacao eGaming.
- 24VIPcasino is powered by Rival and BetSoft.
- This includes collection of slots, roulette, blackjack and video poker.
- The casino supports payments in Bitcoin, EUR, USD, GBP and also ZAR.
- mBitCasino is a bitcoin casino that was launched in 2014.
- It is licensed by the Curacao government and is based out of Curacao.
- It is powered by CoinGaming software
- There are over 1500 exciting casino games at mBitCasino.
- It accepts payments in Bitcoins and also Euros.
- This is a bitcoin-only casino that was launched in 2014.
- It is based out of Curacao and licensed by the Government of Curacao.
- It uses software from CoinGaming, Microgaming, Endorphina & Play’n Go
- You get over 1300+ casino games at BitCasino.io
- Superior Casino – New bitcoin payment method launched in 2017.
- The casino is licensed and regulated in UK.
- R40,000 Free over 3 Deposits
- The casino is powered by Rival Gaming.
- You will get more than 300 exciting games from these providers.
- It accepts payments in Bitcoins and also in South African Rand (ZAR).
Now join any of these Bitcoin casinos and have fun playing real money slots instantly with your mobile or PC.