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How to Buy Cryptocurrency in South Africa - A Beginners Guide

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The following video is a Beginners Guide to buying cryptocurrency in South Africa. Since Cryptocurrency has recently been gaining a lot of attention by being featured by many 'major' news channels, money seem to be pouring in. *This video is only for people who don't understand how to do anything. In South Africa, the leading bitcoin wallet is Luno, and in this video I show how to buy bitcoin in Luno, and then transfer it to an exchange called Bittrex. This is how South Africans can start to trade different Crypto's (alt coins) such as Ethereum, Litecoin, Ark, IOTA, etc. Enjoy!
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Text Comments (29)
Diana Dsouza (4 months ago)
Very informative post @NicFindlay. here is Top 10 crypto exchanges of Africa https://coinpedia.org/information/top-10-crypto-exchanges-africa/
Aobakwe Ofitlhile (4 months ago)
Can I use Luno in Botswana?
Justin Pietersen (5 months ago)
Email me about business please nic. [email protected]
I-Bot Reviews (7 months ago)
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John Marshall (9 months ago)
Hey guys I am using bitssa which is an excellent platform for purchasing and selling bitcoin. checkout the bitssa website: www.bitssa.com. it is easy to use and convenient in transaction. Their response is lightning quick.
given egumbo (9 months ago)
Hi Nic, I'm having difficulties depositing money onto my Luna account. I don't have the "accounts" tab on my Luna page. I'm trading from namibia
John Marshall (9 months ago)
Hey I am using bitssa which is an excellent platform for purchasing and selling bitcoin. checkout the bitssa website: www.bitssa.com. it is easy to use and convenient in transaction. Their response is lightning quick.
Nic Findlay (9 months ago)
Hey Given, I think you should send an email to Luno support about that... Im not sure why that is :)
Din Nasihattır (9 months ago)
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Bulls Breaker Balls (9 months ago)
If you want to learn more from Crypto, please join our group on the Telegram app - CryptoRSA. We learn something new from each other every day & all you can gain is knowledge.
Joseph Kelvin (11 months ago)
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Naadir Dawood (1 year ago)
Hey please check out cryptoschool.co.za for full face-to-face courses and seminars in South Africa
Angelique (1 year ago)
Ripple? I want to know how to buy and sell ripple. I'm a newbie and most of these stuff is so confusing to me. I know how luno work now, well about 80%, but still learning.
Angelique (1 year ago)
I did it! :-) :-) Thanks Nic!! This was so much easier than all the other videos I watched and options I tried.
Angelique (1 year ago)
Thanks Nic, I will try it. ;-)
Nic Findlay (1 year ago)
Angelique so follow the steps I laid out, then once your bitcoin is on an exchange (like bittrex) then you can buy ripple with your bitcoin :)
Marc Bouviere (1 year ago)
Dear Nic, interesting video and good way you present it. I have a question. Unless I buy Crypto for speculation, how does it make sense to use Crypto for other purposes, like business purposes to transfer abroad? Because in this new way I first have to deposit from bank into e.g. Luno. That takes 2 days as it showed in your video. Then I got Crypto and can in principal transfer to USA, that is 2 rounds of transfer. But I can do that in one day in the old fashion way bank to bank, may cost some more, but I save one round of transfer... If your money are in Africa there does not seem to be a viable way making it worth using Crypto to make payments cross border. In ZA you can connect your bank account but for Kenya, Uganda etc. you can not. I find it is a bit like having an great ISP (Internet provider) with the best Internet capacity.... but nobody can provide a modem to connect. it seems like most or all of these exchanges miss to solve one vital part. What are your views?
Nic Findlay (1 year ago)
It’s like the internet in the 1900s, people didn’t think it would benefit businesses, and now nobody can live without it :)
Nic Findlay (1 year ago)
Thank you for the comment! Okay so this isn’t exactly the way cryptocurrencies are meant to be used. It is hard to transfer fiat into cryptocurrency, but once you have it, it is very fast to transfer (depending on which currency you are using, bitcoin is very slow). International bank payments usually take 7-14 business days, so even by using it in the way you explained, it would still be a lot faster. The idea of cryptocurrency is that once more people start using it, there will be no need for fiat currency. Currently your bank balance is just an entry in a database, but cryptocurrencies are actual digital assets that are transferred. To sum it up, once the world becomes more accepting and every business has holdings in some Crypto’s, they can send money across the world in seconds with no banks or government involved :) But we aren’t there yet. Hope that makes sense!
what is your take on joining the Bitclub network?
Terrentia Mbebe (1 year ago)
Its a good investment actually Many say ripple is a scam but its not. Its a centralized coin meaning it was created buy the banks for themselves
Nic Findlay (1 year ago)
Looks a bit scammy to be honest!
Connie Chuwa (1 year ago)
Hi Nic, thank you for the video, its very helpful. I just wanted to know if I have to use Luno or any other South African based exchange platform? Reason why Im asking is because the price of bitcoin on Luno seems to be very inflated, (eg Luno has it at R62k, whereas the exchange converted price is R56k). Really would appreciate your help. Thank you
Nic Findlay (1 year ago)
Hi Connie, glad it was helpful! Yes so I am about to do some more research on this, but I have heard it is cheaper to buy Litecoin with Rand and then convert it. Then again, when you convert you send your bitcoin back to Luno, it is still more expensive, so you kind of get your money back :)
Christina Scott (1 year ago)
Very helpful / thank you - what crypto communities do you belong to and how does one join ?
Nic Findlay (1 year ago)
Pleasure! I am part of a telegram chat called 'Crypto Grinders' which is run by a guy called Ryan Lye. Check him out on youtube for some good advice... Not a part of any South African communities, just have a few mates who I chat to often
Jade Andrews (1 year ago)
Hey dude..was extremely helpful and easy for a complete cryptocurrency newbie... are you going to make any other vids especially with regards to selling and making profits etc. ?
Jade Andrews (1 year ago)
Nic Findlay Any chance of hosting a seminar/training for this ?
Nic Findlay (1 year ago)
Thanks Jade! I really need to but I just keep postponing it... I will get on it

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