The Most Popular Crypto Trading Platforms in South Africa [2025 Update] 

Best Crypto Trading Platform in South Africa

Contrary to the public’s sentiment, South Africa’s technological delay didn’t hinder investors from hopping into the crypto craze.  

If we talk numbers, Luno – the leading crypto exchange in South Africa – recorded a staggering estimate of 655-billion-rand worth of crypto transactions in South Africa.  

However, the Financial Sector Conduct Authority has recently regulated crypto assets service providers (CASP). This regulatory decision eases South African crypto investors’ worry about the legibility of crypto exchanges in South Africa.  

This article walks you through the best crypto trading platforms in South Africa in 2024. Explore their features, fees, security, and regulatory oversight to ensure you invest in crypto on a reputable platform.  

Types of Crypto Trading Platforms 

Before we dive into the top 5 best crypto exchanges in South Africa, let’s discuss different types of platforms. Knowing how these trading platform types differ from one another helps you make informed and tailored decisions for your investment.  

Centralized Crypto Trading Platforms 

Also known as the centralized exchange (CEX), a centralized trading platform is controlled by a corporation (banks) or a crypto company. These entities provide brokerage services to crypto investors to help them access the blockchain network smoothly.  

In addition to providing access to different crypto assets, CEXs offer customer support, security features, monitoring, and investing advice. However, small commission fees are rolled out for these additional features.  

CEX Pro: 

• Often intuitive, which makes it suitable for beginner traders 

CEX Con: 

• Company’s fundamentals influence your investment’s growth, security, and continuity.  

• More costly because of commission or trading fees 

Decentralized Crypto Trading Platforms 

Contrary to centralized platforms, a decentralized crypto platform is not controlled by any middleman or entity. In other words, you access the blockchain network yourself for a direct peer-to-peer crypto transaction.  

Investing in these platforms is considered safer because your holdings are kept running despite the company’s fundamentals (for example, the company’s bankruptcy).  

However, using DEXs is often hard to navigate because they are simply API systems enabling P2P transactions. 

DEX Pro: 

• Don’t take custody of the investor’s holding, thus providing more control to the user.  

• Investment’s continuity is not vulnerable to the company’s fundamentals.  

DEX Con: 

• Uninsured investment in case of cyber-attack like blockchain hacking.  

Scam Crypto Trading Platforms 

While no CASP registered their platform as a scam, that doesn’t mean they’re not prevalent in the market. In fact, these platforms are more common than you’d ever imagined.  

Investors are becoming blinded by their optimism about profiting from the crypto market, making it easier for con artists to target crypto traders.  

Usually, crypto con artists mimic a legitimate crypto exchange with professional-looking websites and attractive marketing campaigns. There’s always a promise of a high return on investment with little to no risk (in a risky financial market environment). 

Ponzi Scheme in the Guise of Crypto Trading Platforms 

The rag-to-riches stories of finfluencers make most crypto investors vulnerable to the ‘too good to be true’ promises of some sketchy companies. 

After all, crypto investors want to be multimillionaires. However, their optimism is the fuel that drives the fuel of Ponzi scheme companies.  

Briefly, a Ponzi scheme is an investment scam that promises extremely high investment returns with almost no risk. It functions similarly to a pyramid scheme, in which new member investments are used to pay a “high return” to the earlier investors.  

However, investors’ nightmares come in once the flow of new members dries up. This leads to difficulty in accessing funds and, later on, the collapse of the platform.  

The Berry Crypto Trading Platform Controversy 

The case of the fraudulent investment firm CryptoBerry shocked many unsuspecting users. The Berry crypto trading platform promised high returns but ultimately disappeared with investors’ funds. Authorities are now investigating the platform’s operations and warning others to stay cautious.

No, the Berry crypto trading platform is an example of a Ponzi scheme in the guise of a crypto platform. The platform went by different names during its operation in South Africa, including the following:  

• Blueberry 

• Berry Trading App 

• Fertile Soil Global (FS Global) 

• Berry FS Global 

• Berry Exchange 

• Berry Max 

10 Most Popular Crypto Exchanges in South Africa 

Now that we’ve discussed the dark side of the crypto exchanges market (the scam) let’s dive into the 5 crypto exchanges already trusted by South African investors.  

VALR 

Fees	-0.01% maker, 0.1% taker, 0.75% instant swap, and R8.50 withdrawal
Tradeable Assets	70+ crypto assets
FSCA Regulation	FSP License No. 53308

VALR is a South African crypto trading platform. Despite being new to the market, this platform is among the crypto assets service providers that were regulated and licensed by the FSCA (VALR Pty. Ltd, FSP 53308). 

Beginner traders grew fond of the intuitive design and interface of VALR. From the account verification through the market watch and instant Buy/Sell feature, VALR made it easy for traders to navigate its platform.  

Moreover, the exchange offers access to popular crypto assets like Bitcoin, Ethereum, Litecoin, Cardano, and XRP. This makes VALR a suitable crypto exchange for traders who want to invest in high market cap coins for volatility.  

However, the downside of investing in VALR is its high instant buy and sell (swap) fee, which is at 0.75%.  

AltCoinTrader 

Fees	0.1% taker, 0.75 instant swap,
Tradeable Assets	45 trading pairs and 34 crypto asset
FSCA Regulation	FSP License No. 53614

AltCoinTrader is another local crypto exchange in South Africa. By primarily targeting South African investors, AltCoin allows its clients to rest assured that its service is regulated by the FSCA (ALTCOIN TRADER Pty. Ltd, FSP 53614).  

This crypto exchange platform adheres to account verification standards in the financial market by implementing KnowYourCustomer (KYC) and a 2-factor authenticator.  

Moreover, AltCoinTrader aims to cater to the different demands of the clients by offering coins with high, low, and micro market capitalization.  

The only downside of using AltCoin Trader is its platform interface. For beginner traders and new users, navigating through this platform can be confusing.  

Luno 

Fees	0.1% instant swap fee
Tradeable Assets	11 high-cap assets
FSCA Regulation	FSP License No. 53314

Luno – a Singapore-based crypto exchange – is among the pioneer crypto assets service providers in South Africa. In 2024, the platform finally got a green flag from the FSCA to continue providing crypto investment services to South African traders.  

Luno’s trading platform is globally recognized as beginner-friendly due to its intuitive interface and huge selection of education resources. The company truly lives up to its motto, ‘Cryptocurrency for everyone.’ 

Additionally, Luno excels in keeping its clients’ funds secured from cyber-attacks. The company stores crypto funds offline in cold storage – imagine it as a hard drive that you can easily detach from the cloud to secure. 

The only downside of using Luno is it only offers access to 11 high-cap cryptocurrencies, including Bitcoin and Ethereum trading. While known for their growth and volatility, investing in these coins may not be for everyone because of the significant risk. 

Coinbase 

Tiered Fees	0.04% – 0.50% Taker, 0% – 0.50% Maker, and 0.5% – 3.99% instant swap fee
Features	241 crypto assets,
Regulatory Oversight	Not regulated by the FSCA, but is licensed by the UK FCA (License No. 900635)

Coinbase, an international crypto exchange, offers financial services in South Africa. Despite several regulatory hurdles brought by the UK FCA, Coinbase retains its status as one of the crypto investors’ favorite platforms.  

New crypto traders also prefer this cryptocurrency exchange due to its extensive selection of educational trading resources, including the basics of the crypto market, trading tips and tutorials, and the ability to chart 241 crypto assets.   

However, it’s worth noting that it has a USD-only payment policy. South African traders must convert their ZAR to USD before they can fund their trading account.  

UK FCA Fined Coinbase  

Coinbase, specifically CB Payments Limited, has been fined EUR 3,503,546 by the UK Financial Conduct Authority (UK FCA) for offering financial services to 13,416 high-risk customers.  

Defined by the Anti-Money Laundering law, high-risk customers are individuals who have characteristics that make them likely to be involved in money laundering or fraud.  

Offering financial services to such customers undermines the juridical effort of FCA to prevent financial terrorism in the United Kingdom.  

Binance 

Fees	0.1% Take, 0.075% Take (Direct BNB), 1% instant swap fee
Features	385 crypto assets,
Regulatory Oversight	Not regulated by the FSCA, but is licensed by the US FinCEN (NMLS ID # 1906829)

Founded in Hong Kong in 2017, Binance has penetrated the global crypto market by offering access to a wide range of crypto assets, derivatives trading, and mobile applications – on top of its flexible deposit and withdrawal methods.  

Binance is the largest cryptocurrency exchange in the world, not just in South Africa. It’s known for having its own blockchain technology, Binance Smart Chain (BSC).  

Its interface caters to both beginner and savvy traders. Beginner traders and new Binance users can use the Binance Lite for intuitive navigation. On the flip side, tech-savvy traders can opt for Binance Pro to access advanced analysis tools and customization options.  

The Rough Regulatory Landscape for Binance  

The former CEO of the Binance Group, Changpeng Zhao, was arrested and pleaded guilty to a money-laundering violation in 2023. Contextually, the former CEO admitted to giving platform access to terrorist groups and other criminals. 

Choosing the Best Crypto Trading Platform in South Africa 

Choosing a crypto trading platform is the first step to investing in profitable digital currencies. However, being the first doesn’t mean it’s the easiest step.  

In fact, selecting a crypto exchange should be an intricate process because this can make or break your investment goal.  

Don’t know where to start? You must remember three considerations: the fee structure, account security, and regulatory oversight.  

Trading or Commission Fees 

The brokerage fee (if centralized exchange) should be your main consideration when looking for a crypto exchange. Here are the common crypto exchange fees you have to look at:  

1. Maker fees to add your limit order to the order book 

1. Taker fees to immediately execute your market order 

1. Deposit and withdrawal fees  

Additionally, it’s worth noting the different fee structures of crypto exchanges, including flat, tiered, and percentage-based fees.  

Being familiar with the crypto exchange’s trading or commission fee structure would help you assess if it aligns with your overall financial goals. 

Account Security 

I’m sure you don’t want anyone to have easy access to your crypto holdings. Thus, it’s essential to select a crypto trading platform with robust security features.  

Among the features you must consider are: 

1. Biometric Login 

1. 2-Step Authentication Login 

1. Login Alert 

Regulatory Oversight 

Finally, you must always check the regulatory oversight of the crypto exchanges you’re dealing with. Check if the crypto exchange is registered and authorized by a regulatory body.  

The common way to do this is to go to the crypto trading platform’s website and look for its financial regulator and license number. The company should and will disclose its regulatory body to build credibility.  

After that, verify it by searching the license number in the regulator’s database. All financial regulators publicized their licensing database for the public’s and investors’ reference.  

Remember: It’s always best to use the financial services of regulated crypto exchanges. This ensures your legal power to escalate disputes or recover funds if needed.  

The Cryptocurrency Regulation in South Africa 

The South African government, headed by the FSCA and South Africa Reserve Bank (SARB), is on the move to address the money laundering and financial terrorism in the country’s financial market. This follows the Financial Action Task Force’s decision to put South Africa on the grey list.  

One way to strengthen the Anti-Money Laundering and Counter-Terrorism Financing Act is to regulate and monitor all crypto-related transactions within the country.  

In 2022, the FSCA finally declared cryptocurrency a legitimate financial product in the country. Thus, all crypto assets service providers (CASPs) operating in the country should be licensed by the FSCA under the Financial Advisory and Intermediary Services (FAIS) Act.  

As of 2024, the FSCA has approved 75 CASP licenses – on top of the 374 ongoing and 34 rejected applications.  

Why Should You Choose the Best Crypto Trading Platform in South Africa? 

Finding the best crypto trading platform in South Africa is the first step to investing and actually profiting from the booming cryptocurrency market.  

With a suitable crypto exchange, you can access crypto assets you want to trade, trading tools to help you analyze the market, and your investment’s overall security and sustainability.