How to buy bitcoins - On your terms (SA)

I thought I would do a short write up on my beginner series about platforms that can be used in South Africa.

1. www.localbitcoins.com

2. www.luno.com

3. www.altcointrader.co.za

4. Localbitcoins - An established platform available in over 210 countries worldwide. Has a platform to verify users but funds are mostly peer-to-peer. I would have preferred an indipendent escorw service just hold both coins and FIAT currency until everyone has successfully traded. There is a verification system for all users of the system which show the number of transactions and reputation for a particular indivual/entity.

5. Luno - (formely BitX) - is another established exchange and platform. I like it because it has option to send funds from bank accounts in many countries (Africa, Asia and Europe), Another good thing it has is it's instant buy/sell option which simplify life for many new users that don't understand the idea of putting in bid orders into the exchange. I would vote a yes for simplicity on this one.

6. Altcointrader - A new kid on the block (the only to trade altcoins in SA), very useful exchange to trade Bitcoin as well as altcoins priced in South African Rand. It has a simple interface to use for trading and funds also easily send using Electronic Funds Transfer (EFT) from South African Banks

All these platforms apply the Know Your Customer (KYC) policy as they are regulated and will require some level of Identification before they can allow you to trade on their exchanges. Local bitcoins.com does not necessarily require this and Luno will apply restrictions on your account.

See my Youtube video on this regards on

So follow me and find more on how to use these platforms.

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