Best South African Bitcoin Trading Sites in 2020

South Africa has long been the African hub for Bitcoin trading and investment, and today is now growing to become a global center as well.

As the market has expanded, so have the size of the user base within South Africa that are regularly trading Bitcoin, and of course this has led to an expansion of the number of trading platforms available to South Africans.

We are breaking down the situation for South Africans looking to trade Bitcoin, including looking at South Africa within the context of the wider African market, as well as looking at the huge growth seen within the industry over the past few years,and then singling out a few of the best trading platforms for South African trainers available in 2020.

How Has Bitcoin Trading Grown in South Africa?

In the earliest days of the cryptocurrency market, South Africa played somewhat of a restrained role, as not so much exposure had been seen as in other areas such as Europe and the US in the earliest days.

However, progressively what has been seen, and particularly in the last three or four years, is a huge surge in the popularity of Bitcoin and other cryptocurrencies in South Africa.

This is a trend that has been mirrored globally, however the growth within South Africa has largely outpaced much of the rest of the world.

This has mainly been as a combination of the huge expansion in exposure into the mainstream within South Africa via new online Bitcoin trading platforms and other sites, as well as the organic spread of the knowledge of Bitcoin between family and friend groups.

While we have seen substantial growth in the South African Bitcoin market over the past few years, it is predicted that this would just be the tip of the iceberg in comparison to the coming few years where it is predicted that cryptocurrencies will penetrate the mainstream in a serious way, especially within the context of the next bull run that is predicted to be beginning any day now.

Where are the African Hubs for Bitcoin Trading?

Although there are many countries in the continent which have fairly sizable numbers of Bitcoin traders and investors, there are two predominant hubs for Bitcoin trading in Africa which are South Africa and Nigeria.

While the Nigerian market is robust and involves a fairly large number of traders, the South African market is more evolved and incorporated into the money markets of the rest of the world.

The South African market has grown at a rapid pace and has solidified itself as the home of African Bitcoin trading over the past few years in particular, while the Nigerian market has stagnated and has lost the prominence it once had.

While Nigeria has seen a larger number of Bitcoin traders per capita than any other country on the African continent, the volume of trade in the cryptocurrency market that originates in South Africa is substantially higher, and more of the traders involved in Bitcoin trading within South Africa have a higher likelihood of also being involved with trading other financial assets such as forex, stocks, and bonds.

It’s because of this and other reasons that a number of international cryptocurrency trading giants are now making concerted effort to enter the South African market and to provide high-quality services to South African Bitcoin traders.

PrimeXBT

PrimeXBT is the leading Bitcoin investment trading and trading platform in South Africa, having grown globally over the past two years to manage up to $2 billion worth of trade every day, and today providing services to a large number of South African traders.

PrimeXBT has a clean and intuitive interface that makes it an ideal platform for beginners and experienced traders alike, while providing a powerful trading engine that can execute up to 12,000 trades per second with an average trade time of less than 7.2 ms.

PrimeXBT’s fees are the lowest of any major trading platform in the industry at just a flat rate of 0.05%, and traders can set up an account in under two minutes with just an email address because of PrimeXBT’s KYC-free policy which ensures the traders do not have to provide invasive personal information to set up an account.

The platform is also protected by bank-grade security measures that include mandatory Bitcoin address whitelisting and encrypted SSL, and this has ensured that productivity has never been hacked in its life of operation.

AltcoinTrader.co.za

Altcoin Trader is a South African-based cryptocurrency trading platform which has been around for a while and provides services to the South African Bitcoin trading investment market.

While it is positive that Altcoin trader is based within South Africa, the platform itself is extremely basic and the user interface is highly unattractive and looks like it was produced 20 years ago.

There are services on the platform and some opportunities for traders to buy different assets, however even the functionality on the platform is extremely basic and this is a large reason that major international platforms such as PrimeXBT have made such easy work of penetrating the South African market.

If Altcoin Trader refurbished their user interface to be more attractive and easier to use it could become a platform that was more popular within South Africa, however until that point this platform simply cannot match against more advanced, more feature and value-packed international platforms such as PrimeXBT.

In Summary

South Africa is the leader on the African continent for Bitcoin and other cryptocurrency trading, and today is seen as a global hub within the wider cryptocurrency market.

This has been fuelled largely by an expansion of the number of South African traders and investors, as well as the volume of trade that is coming out of South Africa.

This has also had a knock on effect of attracting a wide number of international cryptocurrency trading platforms to the South African market, and this has led to a greater number of options being available for South African traders.

For those seeking the best trading platforms available for South Africans in 2020 check out the links above.