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5 Best Crypto Exchanges in South Africa
This year, our team reviewed 50+ crypto exchanges to find the best platforms for users in South Africa. We focused on ZAR deposits, local payment methods, and regulatory safety, and included practical advice for choosing the right platform.
By:
Reviewed By:
Updated: Aug 31, 2025
540+ cryptos, FSCA-licensed, ZAR support via Quick Buy & P2P, Pro & Lite modes, and a $1B insurance fund.
730+ cryptos, direct ZAR bank transfer deposits, active P2P platform, Pro & Lite modes, and FSCA licensing.
FSCA-licensed with a flawless security record, beginner-friendly app, Quick Buy with ZAR, but limited to 30 cryptos.
310+ cryptos, intuitive mobile app with Lite & Pro modes, strong global compliance, but no FSCA license or ZAR support.
340+ cryptos, low fees, strong P2P marketplace with ZAR support via bank transfer & wallets, plus Proof of Reserves.
How Did FXEmpire Choose the Best Crypto Platforms in South Africa?
- Regulations: We examined exchanges compliant with South Africa’s FSCA or major regulators in the US, EU, or UK, ensuring they operate legally and adhere to global financial rules.
- ZAR Support: We focused on exchanges enabling quick ZAR deposits and withdrawals through bank transfer, EFT, bank cards, and local payment methods for easy funding and account management.
- Localization: We considered how each platform adapts to local needs, like ZAR payment options, pricing in local currency, and simple KYC with South African ID to enhance accessibility.
- Security and Transparency: We assessed each platform’s security setup, prioritizing exchanges with strong measures like cold storage, proof of reserves, and 2FA, alongside transparent Proof of Reserves and security audits to help protect user funds.
- Trading Tools and Interface: We thoroughly tested the desktop and mobile experience on each platform, focusing on intuitive design, beginner-friendly layouts, and access to advanced charting and order types.
- Crypto Selection: We evaluated the range of supported spot tokens and futures markets, highlighting exchanges that offer a wider selection of both large-cap coins and trending altcoins.
- Low Fees: We compared trading and non-trading fees, selecting exchanges with competitive and transparent fee structures.
- Liquidity: We analyzed trading volume and order book depth, favoring exchanges with deep liquidity to ensure seamless execution and minimal slippage, especially during periods of market volatility.
- Customer Support: We tested customer service via live chat and email to ensure quick help access. Platforms with fast, reliable assistance and strong self-service tools ranked highest.
Best Crypto Exchanges in Nigeria Comparison Table
| Exchange | Ranking | Taker/Maker | Available Crypto | Accepts Fiat | Payment Methods | KYC |
|---|---|---|---|---|---|---|
Binance | 4.8 Read Review | 0.1% / 0.1% | 411 | Yes | +1 | Yes |
Bybit | 4.6 Read Review | 0.1% / 0.1% | 519 | Yes | +2 | Yes |
Luno | 3.4 Read Review | 0.6% / 0.0% | 15 | Yes | +1 | Yes |
Coinbase Exchange | 4.1 Read Review | 1.2% / 0.6% | 314 | Yes | +6 | Yes |
OKX | 4.6 Read Review | 0.1% / 0.08% | 296 | Yes | +6 | YES |
Best Overall
- 411Available Crypto
- Payment Methods
- FeesLow
Why We Picked It
Binance, the world’s largest exchange by volume and users, is popular in South Africa. It offers a variety of crypto products like spot, margin, futures, options, staking, lending/borrowing, and P2P trading. South Africans can buy crypto with ZAR via Quick Buy or P2P market.
- Dedicated Lite and Pro Modes: Dedicated Lite and Pro modes make Binance accessible to first-time investors and experienced traders. Lite mode offers a simple, intuitive interface for beginners, while Pro mode offers features tailored for expert traders.
- South African License: Binance, through its South African subsidiary, is licensed as a Financial Service Provider with the FSCA. This allows Binance to legally offer crypto and derivatives trading in South Africa, providing South Africans with a legal and compliant exchange.
Pros and Cons
Pros
- 540+ cryptos available
- Supports ZAR (Quick Buy & P2P)
- Competitive trading fees (0.1% spot)
- Dedicated Pro & Lite modes
- High security & transparency with $1bn self-insurance fund
Cons
- Lack of free deposit options
- No support for some official languages of South Africa
Best for ZAR Deposits and Withdrawals
- 519Available Crypto
- Payment Methods
- FeesLow
Why We Picked It
Bybit is an exchange known for its user-friendly interface, trading tools, and liquidity. It offers Lite and Pro modes for traders and investors. It is popular in South Africa due to its ZAR support, variety of coins, and compliance.
- Easy ZAR On-Ramping: Bybit directly supports ZAR deposits via bank transfer, letting users easily make low-fee deposits and start trading. It also features a comprehensive P2P platform that supports local payment methods like e-wallets and cash deposits.
- South African License: Bybit offers compliant and legal crypto trading in South Africa, with the exchange licensed as a Financial Service Provider in the country. This ensures the exchange operates to the highest standards and complies with local financial regulations.
Pros and Cons
Pros
- 730+ cryptos available
- Supports ZAR (bank transfer, Quick Buy & P2P)
- Spot, margin, futures, and options trading, including forex, stocks, and commodities
- Competitive trading fees (0.1% spot)
- Dedicated Lite & Pro modes
- Fully licensed in South Africa
Cons
- Lack of free deposit options
- Slow customer service
Best for Security
- 15Available Crypto
- Payment Methods
- FeesLow
Why We Picked It
Founded in 2013, Luno is a leading exchange in emerging markets. Known for compliance and native fiat support in Africa and Asia, it is fully licensed by the FSCA and has a flawless record without any user fund losses.
- Fully Regulated: Luno is fully licensed and regulated by the FSCA with a CAT I license, allowing it to offer Financial, Advisory, and Intermediary services. Few competing exchanges are licensed to the same level as Luno, giving it an edge in compliance and offering greater peace of mind.
- Seamless ZAR On-Ramping: Luno allows users to quickly and easily buy crypto with ZAR through its Quick Buy feature, using a bank card or Google Pay. You can also create a ZAR wallet with Luno and deposit funds via bank transfer at low cost.
- Strong Security Record: Luno has an excellent security record, with strong asset storage and account protection. It keeps most user assets in cold storage, while 2FA and encryption safeguard user accounts and data.
Pros and Cons
Pros
- Supports ZAR (bank transfer & Quick Buy)
- Beginner-friendly interface
- Flawless security record
- Fully FSCA licensed and regulated
Cons
- Less than 30 available cryptos
- No margin, futures, P2P, or copy trading
Best Mobile App
- 314Available Crypto
- Payment Methods+4
- FeesHigh
Why We Picked It
Coinbase is a US-based, NASDAQ-listed exchange and a well-known name in crypto. While not a South African exchange and lacking native ZAR support, it remains popular among new South African users. Its top-rated mobile app suits those who prefer trading and buying crypto on the go.
- Beginner-Friendly Interface: Coinbase offers an intuitive mobile app with Standard and Advanced modes that let it offer features geared towards beginners and experts. Beginners can safely explore markets, while experts are offered advanced trading tools and features.
- Educational Content: Coinbase provides a learning platform that teaches first-time investors crypto basics, helping them learn and progress at their own pace. This makes Coinbase the top choice for beginners and learners.
- Trust & Compliance: As a publicly traded company, Coinbase is one of the most trusted names in the industry. It complies with the strictest financial regulations and undergoes regular audits to ensure it operates to the highest standards.
Pros and Cons
Pros
- 310+ cryptos available
- Beginner-friendly interface
- Dedicated Lite & Pro modes
- High trust & security
Cons
- Not FSCA licensed
- Higher trading fees than competitors
Best P2P Platform
- 296Available Crypto
- Payment Methods+4
- FeesLow
Why We Picked It
OKX is among the largest exchanges worldwide by trading volume and is known in the industry for providing a strong trading infrastructure and a competitive P2P marketplace. It offers a broad selection of trading instruments, including spot, margin, futures, and options, along with industry-leading trading bots and copy trading.
- Active P2P Marketplace: OKX has a comprehensive P2P trading platform with hundreds of verified merchants offering competitive prices on ZAR trades. This allows South Africans to quickly and easily buy and sell crypto using ZAR and local payment methods.
- Range of Payment Methods: OKX’s P2P platform supports ZAR payments using local payment methods like bank transfer, FNB-ewallet, and other digital wallets, offering users the flexibility to choose a payment method that suits them.
- Security & Trust: OKX is known for safety and security, with no loss of customer funds in its history. It uses security features like 2FA, cold storage, and root/jailbreak detection, along with detailed Proof of Reserves and regular security audits.
Pros and Cons
Pros
- 340+ cryptos available
- Supports a range of ZAR payment methods
- Deep liquidity & low trading fees (0.1% spot)
- Flawless security record
Cons
- No Lite mode for beginners
- Slow customer service
How to Choose the Best Crypto Exchange for South African Traders?
What is The Current State of Crypto Regulation in South Africa?
Crypto is legal to hold and trade, but it is not considered legal tender (the rand is South Africa’s only legal tender). Regulators classify “crypto assets” as financial products under the FAIS Act, so anyone offering advice or intermediary services (such as operating an exchange, brokerage, or advisory) must be authorized by the FSCA as a Financial Services Provider (FSP). The FSCA maintains an up-to-date list of licensed Crypto Asset Service Providers (CASPs).
Anti-money-laundering rules apply: CASPs are considered “accountable institutions” under the FIC Act (KYC, reporting, etc.). South Africa’s Travel Rule for crypto transfers (FIC Directive 9 of 2024) took effect on April 30, 2025.
Cross-border crypto flow regulations are still being developed. SARB’s Financial Surveillance Department (FinSurv) is creating a framework for cross-border crypto transactions, and the IFWG’s 2025 update plans to include amendments that give FinSurv clear oversight and explicitly allow purchases within existing foreign-allowance limits once finalized.
Do I Have to Pay Tax on Crypto Trades in South Africa?
Yes. Normal income-tax rules apply. If SARS views your activity as trading (revenue), profits are taxed at your marginal rate (top bracket 45% in 2025/26). If it’s capital in nature, Capital Gains Tax (CGT) applies; for individuals, the effective CGT rate is up to 18% (because only 40% of the gain is included and taxed at your marginal rate).
SARS is actively auditing crypto users and has folded crypto into its compliance programmes. South Africa has also committed to the OECD Crypto-Asset Reporting Framework (CARF), with exchanges of information slated to begin by 2027.
Keep records of every trade, deposit, and withdrawal (dates, amounts, ZAR values, fees) and retain supporting documents for at least five years after filing, in case SARS asks.
How to Choose a Safe Crypto Exchange in South Africa?
Beyond the FSCA license, we recommend considering these features when choosing a South African exchange:
- Reputation & Longevity: look for exchanges with a long track record of operation without major security breaches and those with a strong reputation.
- Security Features: features like two-factor authentication (2FA), biometric authentication, cold storage, and withdrawal whitelists should be non-negotiable.
- Trading Features: availability of various instruments, such as spot, futures, and options, provides greater flexibility and growth potential.
- Liquidity: look for exchanges with high daily trading volumes and deep liquidity to ensure smooth order execution at all times.
- Customer Service: contact each platform’s customer support before signing up to evaluate how efficiently and effectively they respond to your inquiries.
What ZAR Payment Methods Can I Use on Crypto Exchanges?
The payment methods available to South African users vary by exchange and whether you use Quick Buy (direct fiat-to-crypto) or P2P trading. Below is a breakdown of the most commonly supported methods:
| Payment Method | Availability | Details |
| Bank Transfer (EFT) | Widely supported (Quick Buy & P2P) | Includes FNB, Absa, Standard Bank, Capitec |
| Bank Card (Visa/Mastercard) | Available on major exchanges | Typically incurs higher fees than EFT |
| FNB eWallet | Often supported via P2P only | Flexible and fast, best used on verified P2P |
| Digital Wallets | Supported via P2P (e.g., PayFast, Ozow) | Varies by merchant; confirm before trading |
Always check if the exchange offers instant ZAR deposits or if there’s a delay due to manual review or bank processing.
Is P2P Trading Available in South Africa for Buying Crypto?
Yes. P2P trading is one of the most popular and flexible ways to buy crypto in South Africa, especially for users who want to use local payment methods like FNB eWallet or Ozow, which may not be available through direct fiat deposits.
What Fees Should You Consider When Choosing a Crypto Exchange?
| Fee Type | Description |
| Trading Fees | Maker and taker fees for executing trades. Usually 0.1%-0.4% depending on the exchange. |
| Funding/Interest Fees | Applied on borrowed funds in margin trading or on open futures contracts. |
| Deposit Fees | Charges for fiat or crypto deposits. ZAR EFTs are often free; cards may have up to 4%. |
| Withdrawal Fees | Applied when transferring funds off the platform. Check ZAR rates and crypto-specific fees. |
| Spread | Difference between the buy and sell price. Often overlooked in Quick Buy. |
| Hidden or Extra Fees | May include inactivity fees, monthly maintenance, or third-party payment processing fees. |
What Common Crypto Scams Target South African Users?
Be cautious of these red flags that often target South Africans:
- Ponzi schemes promising “guaranteed returns”
- Fake investment platforms impersonating legitimate exchanges
- Phishing links and social media campaigns pretending to be exchange staff
- P2P fraud using fake proof of payment
We strongly recommend always verifying links before clicking, only using the exchange’s escrow services, and always refusing off-platform communication.
FAQ
What Is The Best Crypto App In South Africa?
Binance and Luno are two of the most popular crypto apps in South Africa. Both are FSCA-licensed and support fast ZAR deposits and withdrawals, with Binance offering advanced features and Luno known for its strong local support.
Can I Deposit And Withdraw South African Rand On Crypto Exchanges?
Yes, South African users can deposit and withdraw ZAR using bank transfers, cards, or P2P services. Luno supports direct EFT transfers, while Bybit and Binance accept both bank cards and peer-to-peer payments for faster transactions.
Can I Earn Interest With Crypto In South Africa?
Yes, South Africans can access staking, lending, and earn products through platforms like Luno and Binance. However, the FSCA is currently reviewing yield-generating products, so offerings and regulations may evolve.
Is Leverage Or Margin Trading Allowed In South Africa?
Leverage trading is not supported on local platforms like Luno due to regulatory restrictions. South African traders can still use international exchanges like Binance or Bybit to access margin and derivatives trading.
Do I Need To Complete KYC To Use Crypto Exchanges In South Africa?
Yes, KYC is required on all licensed exchanges in South Africa. You’ll need to provide a government-issued ID, proof of address, and sometimes additional documents like proof of income or source of funds.
Are Crypto Deposits Insured On South African Exchanges?
No, crypto deposits are not insured like funds in a traditional bank. Some exchanges like Binance offer self-insurance funds, and most platforms store assets in cold wallets for added security. For long-term holdings, using a personal wallet is recommended.
About the Author
Shennon Hewaauthor
Shennon Hewa is a crypto trader and crypto journalist based in London. Active in the crypto space since 2017, he specializes in scalping, derivatives day trading, and swing trading. At FXEmpire, he has reviewed dozens of crypto exchanges and has extensive knowledge of platform strengths and weaknesses.
Why you can trust FXEmpire
At FXEmpire, we strive to provide unbiased, thorough, and accurate exchange reviews by industry experts to help our users make smarter financial decisions.
Why you can trust FXEmpire
Table of Contents
- List of Top Crypto Trading Platforms in Nigeria
- How Did FXEmpire Choose the Best Crypto Platforms in South Africa?
- Best Crypto Exchanges in Nigeria Comparison Table
- Best Overall
- Best for ZAR Deposits and Withdrawals
- Best for Security
- Best Mobile App
- Best P2P Platform
- How to Choose the Best Crypto Exchange for South African Traders?
- FAQ