Most question for many people is how to buy Ethereum in South Africa
A Luno survey shows the popularity of cryptocurrencies in South Africa
Shows that most residents of this country more often assume cryptocurrency as an investment of more than 83% and 23% for online purchases.
While only 12% of the population uses cryptocurrencies. to transfer peer to peer money to family members or friends
The highest use is in the Western part of South Africa with 71% while North and East are lower in the range of 66%
While the results of the study are gender-based, for men with 42% and women 39%
Bitcoin is the most popular, then Ethereum and then ripple and dash in the next position.
Where to buy Ethereum in South Africa?
Buying Ethereum in South Africa is now getting easier, there are several exchanges that provide services for this country.
You can choose which one you think is the best
Some of the exchanges that support buying Ethereum in South Africa include Coinmama
There are so many users who choose this exchange are their favorite because of the good service and quick process
You can buy cryptocurrency how much you want, with a quick process.
Buy Ethereum with Coinmama in South Africa.
Coinmama is a very popular exchange, they have reached more than 190 countries in the world.
Including South Africa, it is not surprising that Coinmama is one of the exchanges that have more than one and a half million customers
If you want to buy Ethereum, then the step you need to do is register on the Coinmama website
You need an email address and fill in the name and residence where you live, so if you are in South Africa when registering, choose this country.
When you click the signup, a form will appear that you need to fill in, and if everything is fulfilled you then click Create Account, with signing up, you have agreed to terms and conditions of the site
After clicking the create account button
You then need to open an email and verify through the link sent by Coinmama.
After you validate your email, then Coinmama asks for some personal information.
Providing documents is needed to validate your identity
And this is a natural process for most exchanges that require an identity card for account verification
After you upload the required documents as a verification requirement
Coinmama will review the document and will provide an approval notification via your email.
It usually takes several hours but often less than two hours
Buy Ethereum with Coinmama
To buy Ethereum using a credit/debit card, Coinmama does not require users to register a credit/debit card in purchasing cryptocurrency.
Users can continue to make orders by choosing how many Cryptocurrency they want to buy by entering the wallet address then filling in the card details on the payment page.
Coinmama will not store every detail of data from a credit/debit card on their server.
After completing payment, Coinmama will immediately process the transaction in just a few seconds before transferring to the user’s chosen crypto wallet
Cryptocurrency orders will be sent immediately to users after Coinmama confirms the payment and wallet address
Coinmama does not provide online wallets for users to store cryptocurrency on exchangers.
Therefore, the user needs to create an appropriate Wallet address first
So that Exchanger can send cryptocurrency in one purchase directly to the wallet.
The user only needs to confirm the cryptocurrency wallet address that the address is valid a link via email.
When comparing with other competitors such as Indacoin and Changely.
Coinmama’s transaction fee is classified as higher at 5.5% per transaction displayed on Coinmama’s website
Including the Bitcoin and Ethereum fee rates.
In addition, Coinmama charges an additional fee for each transaction using a credit/debit card.
Coinmama will add another fee when the user chooses the payment method
So that the user can be charged a fee withdraw by the bank or credit/debit card issuer depending on the financial institution in handling cash transactions.
It is easy to assume that there is an additional 10% fee when making transactions on Coinmama using a credit/debit card.
Coinmama offers high limits, especially in credit card transactions.
Verified users can buy up to $ 5,000 per day with a limit of up to $ 30,000 per month
The daily limit is valid for 24 hours since the limit is reached while the monthly limit is 30 days in advance.
Currently displayed in the price are USD and EUR and other currencies will be added soon. However, Coinmama can accept orders in all currencies under auto exchange conditions.
The verification level on the platform affects the number of user purchases
If you provide a document that becomes a requirement, the more you can buy the currency, but still within the limits.
Here are the details of the limits and terms of the verification level:
- First level: At this level, the user can buy up to $ 15,000 and only requires verification in the form of a valid government Card such as a country ID or Driver License
- Second level: At this level, the user can buy cryptocurrency up to $ 50,000.To be able to access this level, the user needs to provide 2 IDs which are official along with the bill electricity/water and the user’s take photo selfie holds the card.
- Third level: This level is the highest authority level on Coinmama which allows users to buy up to 1 million USD in the form of cryptocurrency. To get the highest level of authority, users need to fill out a short form and send it back to Coinmama
Buy Ethereum In South Africa with Ice Cubed
Besides Coinmama you can also buy Ethereum through an Ice Cubed exchanger, this is the oldest exchange in southern Africa
You can follow the steps of buying Ethereum which is a general requirement for currency exchange.
- First, sign up for an account with an Ice Cubed exchange
- Second, verify your account
- Third deposit money into Ice Cubed
- Fourth place the ‘buy order’ to buy Ethereum on the exchange
Buy Ethereum In South Africa with Luno
Luno is a global company in the field of digital assets based in London with regional offices in Singapore and Cape Town, currently customers in 40 countries and teams of more than 100 people.
To use Luno, it’s quite easy, just by downloading and the Luno application that is available in Playstore and Appstore. Then register and fill in the data, if you have finished you can try the Luno service.
Luno provides three main products:
- Luno Wallet: payment, conversion, and storage of digital assets.
- Luno Exchange: a professional digital asset trading platform.
- Ancient Entrepreneur: Open API, specifically for investors, as well as merchant integration.
The steps you need to do to buy Ethereum or bitcoin are
- Signup Luno Wallet through the website, Android, IOS with an easy verification process
- Select the payment method available to make a deposit to the Luno wallet
- With money in your wallet, you can buy Ethereum or Bitcoin
Luno also offers attractive promotions just by registering and buying or selling ZAR 500.00 or more (excluding exchanges), you will receive ZAR 10.00 coins for free. This uses a specific promo code, inviting member like as 5NP55 to the “promotion” screen after registering.
Buy Ethereum In South Africa with Binance
Binance is a trusted exchanger, also the largest in the world, serving many countries including South Africa
To get services from this exchange you need to take these steps
- Step 1 – Register account
- Step 2 – Deposit money in Binance Balance To fill out a binary balance, you must use bitcoin or Ethereum purchased from a local exchange like Luno.
- If you already have funds in a Binance account, then you can purchase the coins you want to buy
Buy Ethereum In South Africa with Coindirect
You can buy Ethereum via Coindirect, this exchange serves a variety of coins that you can buy including Ethereum
This exchange supports 150 countries including South Africa, and to start buying Ethereum the steps you need to do as well as other exchanges.
- first, you register through the website or you can by downloading the application on the google play store and app store
- The next step is to verify an account with send document
- The third step is to deposit money into the Coindirect wallet
- And you can buy Ethereum or other coins with your wallet and money
Ethereum is one of the most popular and well-developed cryptocurrency, some people think this is an investment asset that makes it possible to gain profits in the future
But there are also those who trade with currency pairs or other types of crypto in order to increase their profits faster even though there are also risks
In South Africa, there are several exchange options that support the purchase of Ethereum, and maybe you will be confused about which one to use
And here I only recommend using an exchange that is proven to get good reviews and users, for example, Coinmama or Binance
And it is also possible to conduct crypto trading with brokers
Tenkofx is one of the best brokers that provides crypto trading facilities that support multiple payment methods