The two most established bitcoin exchanges in South Africa have been around since 2013, namely ICE³X (AKA Ice Cubed) and Luno.

If you want to buy bitcoin, using an EFT bank transfer to a bitcoin exchange is one of the safest ways to do so. Rand (ZAR) transfers generally show up on the corresponding exchange within a few hours, and you can begin to trade as soon as it is reflecting in your account.

ICE³X bitcoin exchange

Ice Cubed exchange

ICE³X is a secure exchange platform where you can buy and sell Bitcoin, Ethereum, Bitcoin Cash, and Litecoin in South African Rand as well as trade Ethereum for Bitcoin.

ICE³X is registered as ‘Internet Currency Evolution Cubed (Pty) LTD’ is a South African owned and operated company.

We provide digital currency solutions for real world problems and offer a unique approach to cryptocurrency use in enterprise. We want to solve really old problems with radically different solutions.

The ICE³X platform is based on cutting-edge industry technology, and uses the same architecture as other leading, high-volume transaction systems. The platform was developed with performance and stability in mind, and combined with a robust infrastructure and distributed system design, provides you with capacity and reliability. The exchange is capable of processing several hundred trades in a fraction of a second.

Bitcoin and Litecoin withdrawals from accounts are processed manually in batch runs at least 3 times per day as they run a 100% cold storage policy. All coins are stored offline, in special vaults, away from online security threats.

  • Website: www.ice3x.com
  • Deposit Cryptocurrency: Free
  • Deposit Rand: Free
  • Withdraw ZAR: R10
  • Send Cryptocurrency: Dynamic fee
  • Trading fees: 0.25 to 1% trading fees – Dynamic based on 30 day trading volume
  • Know Your Customer: FICA, Proof of ID / residence
  • Security: 2 Factor Authentication (Google Authenticator), Secure digital certificate
  • Developer API: Yes

Click here for a step-by-step tutorial for Ice Cubed Exchange!

Luno bitcoin exchange

luno bitcoin South Africa

Luno is headquartered in Singapore, with a offices in Cape Town and London. Luno is the biggest of the local exchanges in terms of user base and average trading volume, and boasts a mobile bitcoin wallet app that not only is a wallet, but allows you to buy and sell Bitcoin and Ethereum too.

Luno allows you to conveniently and securely send, receive and store your Bitcoins and ethereum. The Luno Wallet is hosted on secure servers and Bitcoins are stored offline to ensure the safety of your cryptocurrency. Luno provides low-latency trading protected by bank-grade security.

Bitcoin and Ethereum withdraws from accounts are automatic for most transactions (below a threshold limit).

Costs to deposit / withdraw / Trade on the exchange

  • Website: www.luno.com
  • Deposit Bitcoin: 0.0002 BTC
  • Deposit Rand: Free
  • Withdraw ZAR: R8.50
  • Send Cryptocurrency: Dynamic fee
  • Instant Buy / Sell fee: Unknown, ranges from 1% up to 5% from what we have been able to find out
  • Trading fees: Either 1% or 0% will be charged depending on whether you are taking or providing liquidity. Limit orders that rest in the order book won’t incur any fees when matched while orders that match immediately will be charged at 1%
  • Know Your Customer: FICA, Proof of ID / residence
  • Security: 2 Factor Authentication (Google Authenticator), Secure digital certificate, email notification of trades
  • Developer API: Yes

Get R10 free bitcoin from Luno! Once you have signed up for an account on Luno, login and go to the “Promotions” page, enter this promotional code: BKFEF

Click here for a step-by-step tutorial for Luno Exchange!

Secure your bitcoin with a ledger wallet