Hopefully you’ve read the basics about Bitcoin and you’re now ready to find out how to buy bitcoins.
Whilst you can buy bitcoins from individuals or through exchanges, one of the most secure and easiest ways to get them is through your Bitcoin wallet.
Depending on which method you use, you can pay for bitcoins in hard cash, by debit or credit card, by EFT, by wire transfer or by other crytocurrencies.
Buying bitcoins with a credit card, or even PayPal, could prove problematic as the seller wouldn’t want to be exposed to the risk of the transaction being reversed once the bitcoins have been transferred.
This would mean the seller would’ve lost his bitcoins as they are the same as cash and once they’ve been handed over they’re gone.
Before You Buy Your Bitcoins…
2 Ways To Buy Bitcoins In South Africa
You need to get an account with either of these two registered bitcoin exchanges in South Africa.
In both cases all you need to do is open an account and transfer money from your bank (EFT) to your wallet and then you can buy & sell bitcoins.
If you’re getting started I would recommend using a registered exchange as it’s the most secure & safest way of buying bitcoin in South Africa.
In addition to being able to buy & sell bitcoins quickly & easily Luno also allows it’s users to trade in another up and coming digital currency called Ether (Ethereum).
You can get your Luno account up & running in 3 easy steps;
- Sign up for a free Luno Bitcoin wallet here »(PS. By signing up with Bitcoin you’ll get a free PROMO CODE which will give you R10,00 worth of Bitcoins for free)
- Transfer some money (by EFT or credit card) to your Luno wallet
- Make your first purchase of bitcoins – Luno will confirm exactly how many bitcoins you’ll be getting for the amount of ZAR you want to spend before completing the transaction – once you’ve hit the “BUY” button you’ll have the ZAR value of your bitcoin purchase displayed as the price of bitcoin goes up & down.
PS. You don’t have to buy whole bitcoins at a time…
With Local Bitcoins you can buy R500, R5,000 or R50,000 or any amount of Bitcoin you want
2. Ice3X (IceCUBED)
The IceCubed exchange also offers its account holders the opportunity to buy & sell Litecoin which is another well known crypto currency.
You can register for your IceCubed account here »
Before Buying Bitcoin…
Whilst you can get your bitcoin account approved & funded, you only have to actually buy your bitcoins when you’re ready or you feel that the price is at the right level.
This 7 day Bitcoin price trend is provided for your information and to help you become better informed.
Lastly, here’s a thought
If you had bought a measly $5 of bitcoins in 2010, it would be worth almost $4.5 million today.
But don’t worry, you haven’t missed out yet, according to many voices the Bitcoin bubble is far from bursting
Don’t Miss Out, Get Onto the Bitcoin Rocket Now…