Buying Bitcoin in South Africa

An easy way to get into Bitcoin in South Africa is through Luno. this post will not be a review of Luno but rather a list of some helpful information to peek your interest on checking it out for yourself.

So far, i have successfully linked my south african bank account to my Luno account. i have deposited funds, purchased Bitcoin in Luno, sent bitcoin to another address and lastly received bitcoin deposits into my Luno wallet. the only thing i have i have yet to do is make a withdrawal back into my bank account. I'm not nervous about getting my money out when the time comes.

I have an Android phone and have downloaded the app. its a great, simple interface that most people will find it rather easy to understand and navigate. i personally like the 7 day bitcoin price graph. for the most part, it usually moves in an upward direction :)

i would not recommend Luno for those who plan on getting into cloud mining like genesis mining who do daily payouts. my modest 1TH etc contract pays out roughly 0.00021btc a day but the deposit fee for crypto currency on Luno is 0.0002btc.

i now use CEX.io for my daily payouts... we can talk about that on another day.

Luno has a verification process like many of the other wallets and exchanges out there. there are three levels that come with different limits. the most flexible option is level 3 verification with No Limits! this however only applies to South Africa and Indonesia. however, do not be perturbed as the limits themselves on all levels are quite reasonable and would be out of reach for most average participants in the crypto world anyway.

if you would like more info, their website has all the details you would ever need. www.luno.com go check it out.

for those of you who made it to this point, i hope you found this post useful. let me know if you have any questions on Luno. i will happily respond to help in any way that i can. Ciao!