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Bitcoin Trading in South Africa

Bitcoin trading is possible all over the world. You can benefit from it and make a lot of money trading bitcoin if you know how to go about it. What is more, it is not so difficult to learn how to trade bitcoin; you only need the right kind of information to get things done. What is more, you do not need much knowledge to trade bitcoin. If you reside in South Africa, we will enlighten you about how to trade bitcoin so that you too can start making cool money from this unique method of making money.

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What you need for successful bitcoin trading 

First of all, you need an exchanger before you can start bitcoin trading. The exchanger is the place where you buy the bitcoin that you want to trade with. Aside from an exchanger, you also need a bitcoin wallet where you can store the bitcoin that you have purchased. If you do not have one already, you can open a bitcoin wallet with any of the wallets out there; there are many of them and many are also reliable. However, some other ones like Blockchain and Coinbase are among the most popular to use for bitcoin trading.

Various categories of bitcoin wallets are highlighted below:

  • Mobile wallets come with a mobile application and can be downloaded on both Android and iOS.
  • The desktop wallet is available as a software
  • Web wallet can be accessed directly on a website
  • Hardware wallet is considered as the most secure of all forms of wallets
  • The paper wallet is equally secure, but the setup is somewhat challenging.

There are many bitcoin exchanges in South Africa and you can patronize any of them for your bitcoin. Purchasing bitcoin from any of the exchanges is usually very easy, especially if you are dealing with an exchanger in South Africa. In this case, you can simply transfer funds from your local bank account to the exchanger. Luno is one of the most popular exchangers in South Africa. Aside from local bank account transfer, you can also use various methods to buy bitcoin for bitcoin trading, like debit cards, credit cards, Payoneer, Payza and even PayPal.