Best place to buy BTC?
Hey gents, I'm looking for the most effective platform to buy BTC with Rands. I have played with bitcoins in the past in AUS, but want to know where the best place to acquire them for investment purposes from SA. Any other tips and info would be greatly appreciated :Smile

Have a great day!

Most people use Luno, with some going the ice3x route, those are the only two local SA exchanges I know of.

There is also , but I haven't used them before.

Hello Rudy, welcome to Platinum Wealth.

Buying Bitcoin in South Africa will be very similar to how it works in Australia perhaps you have used or heard of which is one of Australia’s trusted exchanges.

How to buy Bitcoin

In South Africa, the easiest way to buy bitcoin is to use an Exchange as well. The most trusted exchange in South Africa is

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You will need to register on Luno – Feel free to use our affiliate link: alternatively use our code: QMVSZ (We get R10 if you spend R500).

Once you are logged in, you will need to verify your account, this means submitting your ID and proof of residence. This will remove the limits on your account. Here is a link explaining each level’s limits

At level 1 you are allowed to deposit a maximum of R15 000 and you are allowed to withdraw a maximum of R15 000.
At level 2 you are allowed to deposit R50 000 per month and withdraw up to R50 000 per month.
At level 3 there are no limits and you are free to move as much money as you want.

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A very big note of caution to keep in mind with Luno, they report to SARS, due to the fact that ZAR is involved so whatever bitcoins you buy they know about and when you sell Bitcoin for rands then you must declare it, otherwise you will open yourself up for a world of hurt.

Once you have submitted your documents and you are verified, you can now add your Bank Account and use that to fund your ZAR wallet on the exchange with what you will purchase Bitcoin.

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Now that you have funds in your ZAR wallet you can proceed to buy Bitcoin, keep in mind that on Luno you can use the “Quick Buy” method (not recommended) or you can use the Luno exchange and put in a buy order. I always use the buy order, that way I let the price come to me.

Click on this link to enter the Exchange and proceed to place your buy order.

I hope this answers your questions if you have additional questions feel free to ask, we are always happy to help. Alternatively, you can PM the luno guys directly -> @Werner
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ETH 0x6c793ae7749acd19c8b4a77aa72d01cd0263f137 BTC 1GeXS8t5KtYvyMAf5hhwtdxM9Ba9EWQqMz

Gents thank so much for taking the time to answer me with such a detailed response! Will definitely be giving it a go Smile

Thanks Again

(08-09-2017, 09:43 PM)RudyBekker Wrote: Gents thank so much for taking the time to answer me with such a detailed response! Will definitely be giving it a go Smile

Thanks Again

Thank you - that will cost you 0.001 Bitcoin Tongue

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