#1. Bybit Crypto Exchange (Best Overall)

Bybit has established a reputation of reliability and trust in South Africa since its inception in 2018. It has gathered over 10 million customers globally, and facilitates a daily trading volume of over $10 billion. The platform boasts deep liquidity, near-flawless system functionality (99.99%), and lightning-fast trade execution with speeds of up to 100,000 trades per second.

Bybit particularly excels in catering to frequent traders, but it also accommodates newcomers seeking to purchase and hold crypto for the long term. I personally tested the platform by buying crypto using my credit card, and the process was seamless. Bybit supports Visa/Mastercard, Apple Pay, and Google Pay as payment options. Trading the crypto that I was purchased was also straightforward.

There is plenty of variety for spot trading on Bybit, with a wide array of 280+ coins, while derivatives markets include USDT Perpetual contracts, Inverse Perpetual contracts, and Inverse Futures contracts. Bybit's fees are among the lowest in South Africa, with derivatives traders enjoying fees of 0.01% / 0.06% (maker/taker) and spot traders paying a modest 0.1%.

Experienced traders will appreciate Bybit's advanced charts, technical tools, and features like margin trading, which offers leverage of up to 100x. Remember it is crucial to exercise caution when engaging in margin trading, as even a slight adverse price movement can lead to significant losses. Margin trading is best suited for experienced traders who understand the associated risks.

Bybit also provides access to a testnet (demo) platform, mirroring the main website's functionality but using virtual funds. Both new and seasoned traders can utilise this testnet platform to refine their trading strategies before investing their own money. Transitioning to the live platform is seamless once you are comfortable.

Bybit offers 24/7 Live Chat support for any assistance required and even maintains an insurance fund to protect traders from negative equity and excessive losses. With its comprehensive offerings, dedicated crypto traders should seriously consider Bybit. Additionally, if you sign up with this link you will receive $10 of FREE Bitcoin when depositing at least $100.

Related articles:  Bybit vs Binance, Bybit vs Kraken, Bybit review, Best margin trading exchanges, Best no KYC crypto exchanges, Best day trading exchanges

#2. MEXC Crypto Trading Platform (Lowest Fees)

MEXC stands out as my top recommendation for those seeking a comprehensive trading experience. With an extensive selection of 1,520+ coins and 2,110+ trading pairs, you'll have endless opportunities to explore profitable markets.

MEXC has the lowest trading fees in South Africa, including FREE spot trading and 0% fees for makers, when trading futures. The only trading fees you need to pay are 0.01% fees for takers when trading futures. What's even better is that when you sign up using this link, you'll enjoy a 10% discount on trading fees and also receive $30 USDT for free!

If you're new to the world of cryptocurrencies and wish to learn how to trade, be sure to check out my free beginner's crypto trading course. I cover everything from the fundamentals to technical analysis, utilising screenshots from my MEXC account for a practical understanding. The positive feedback I've received from my readers attests to its usefulness.

For experienced traders, liquidity is a crucial factor to consider. Fortunately, MEXC excels in this area, even when comparing to top trading platforms like Bybit, Binance, KuCoin, and Huobi. As an example, see the graphs below which demonstrate the liquidity of ETH/USDT and BTC/USDT. They clearly indicate that MEXC surpasses Bitget, its closest competitor, by more than two-fold and outperforms other exchanges by a factor of 10.

MEXC offers a diverse range of trading markets to cater to every trader's preferences. Spot trading, derivatives trading, P2P markets, and margin trading (with leverage of up to 125x) are all supported on the platform.

If you're interested in automating your trading strategies, MEXC provides free trading bots that enable you to take advantage of market fluctuations even while you're asleep. Additionally, if you're new to trading or simply lack the time for extensive market research and monitoring, you can engage in copy trading. This feature allows you to automatically replicate the trades of successful investors.

Remember to sign up for MEXC using my link to receive $30 USDT for free and enjoy a 10% discount on the already low trading fees!

Related articles: MEXC vs KuCoin, MEXC Review, Best no KYC exchanges, Best zero fee trading platforms, Best crypto trading bots, Best copy trading platforms

#3. KuCoin Crypto Exchange (Best for Serious Traders)

KuCoin is next on our list of best crypto exchanges in South Africa, and is a great option for serious traders. With a massive range of 700+ coins available for trading, there are ample opportunities for diversification. Additionally, KuCoin features free automated trading bots that can execute transactions on your behalf, ensuring round-the-clock trading activity.

KuCoin also provides various advanced trading markets, including margin trading, futures trading, and a P2P marketplace. Trading fees are low, at 0.1% for spot trading, and they can be reduced by 20% if you pay fees with KCS (KuCoin's native cryptocurrency). For futures trading, the fees are only 0.02% for makers and 0.06% for takers.

Besides crypto trading, KuCoin also offers a variety of other features. You can earn interest on your crypto, lend crypto, borrow crypto, cloud mine, trade NFTs, and more. Visit KuCoin's official website to browse what's available and see if it is the right crypto platform for your needs.

Related articles: KuCoin vs Binance, KuCoin vs Kraken, KuCoin vs MEXC, KuCoin vs Bybit, KuCoin review

#4. Coinmama Cryptocurrency Exchange (Best for Instant Buys)

Coinmama is an excellent choice for individuals seeking instant and hassle-free cryptocurrency purchases. While the top three exchanges in South Africa specialise in crypto trading, Coinmama is designed for long-term investors who want to buy (or sell) crypto. 

When you buy crypto on Coinmama, you make a payment using fiat currency, and you receive your cryptocurrency directly to your personal wallet. Coinmama is a non-custodial exchange, so they never hold onto your crypto. This ensures that even if Coinmama is hacked, you cannot lose your funds, as they are in your own external wallet. Also, they don't store your payment details, so you can be sure that your privacy and personal information is never compromised.

However, it's important to note that Coinmama's transaction fees are relatively high (3.90%) and the spread is wide. Additionally, the platform offers a limited selection of only 15 different cryptocurrencies.

Despite these limitations, Coinmama earns a spot in this list of best crypto exchanges due to its exceptional speed and user-friendly interface. It is an attractive option for newcomers to crypto, and those who value convenience.

Related articles: Coinmama review

#5. Crypto.com App (Best Crypto App in South Africa)

Crypto.com offers an exceptional mobile app for South African crypto investors. The app is extremely user-friendly and provides access to a wide range of more than 250+ different coins. Additionally, users have the opportunity to earn interest by staking over 40+ coins, with interest rates reaching as high as 14.5%. The interest percentage varies based on factors such as the chosen coin, duration of the stake, and whether Crypto.com's native coin (CRO) is staked.

CRO, or Cronos, can be conveniently purchased within the app and offers compelling benefits for staking. By staking CRO on the mobile app, users can enjoy perks such as up to 12% interest, a Visa debit card with up to 5% cashback on purchases (paid in CRO), rebates on subscriptions (Netflix, Spotify), bookings (Expedia, Airbnb), and higher yields in Crypto Credit and Crypto Earn.

The app provides a seamless experience for buying and selling cryptocurrencies, with fees incorporated into the spread. No additional commissions are charged, ensuring that the displayed coin price is the exact amount paid. However, it's important to note that the spreads may be wider compared to other crypto exchanges, compensating for the lack of trading fees. If you are unfamiliar with the term "spread", it refers to the difference between the buy and sell prices of a given coin.

If you encounter any issues while using the Crypto.com app, you will find live chat support available for immediate assistance. In the event that the support staff are occupied, they will typically respond to your message with an email response within a few hours.

#6. Binance Crypto Exchange (Most Widely Used)

Binance is a popular option for South Africans, as it is the most widely used crypto exchange in the world. It has the highest daily trading volume of any crypto platform, and there is good reason for this. It has a diverse range of 600+ coins, and plenty of markets and features.

Staking, NFTs, P2P marketplace, crypto lending, futures trading, and more are all supported. The trading fees are also very competitive, at only 0.1% for makers and takers. If you pay fees using Binance Coin (BNB), you will even receive a 25% discount, making the fee only 0.075%. If you trade BTC, you can even access ZERO fee trading!

While Binance is particularly suited for frequent traders, it also caters to newcomers to crypto; with the instant buy and sell feature, even a complete beginner can begin investing in cryptocurrencies. You can also easily withdraw fiat currencies from Binance, which is not available on some other dedicated trading platforms, such as Bybit, MEXC, and KuCoin.

The one downside I have noticed while using Binance is their lack of customer support. Many crypto exchanges offer live chat and/or email, but Binance offers neither. They only have an automated bot disguised as live chat, which is not helpful except for the most basic of queries.

Related articles: Binance vs KuCoin, Binance vs Bybit, Binance vs Kraken, Binance review

#7. Kraken Cryptocurrency Exchange (Best for Beginners)

Kraken boasts a user-friendly interface coupled with round-the-clock live chat support, making it an excellent choice for beginners dipping their toes into the world of cryptocurrency investing. The simplified layout eliminates the complexity of intricate charts, while the 24/7 customer service ensures assistance whenever needed.

The range of 185 coins offered by Kraken may not rival the diversity of Binance or KuCoin, but it's more than sufficient for those starting their crypto journey. Novice investors will find a variety of familiar coins like BTC, ETH, ADA, LTC, and SOL.

In terms of fees, Kraken charges a 1.5% fee for straightforward buy or sell transactions carried out directly on the exchange. However, for those who opt to engage in spot trading, the costs are significantly lower, at 0.16% for makers and 0.26% for takers. Although Kraken's fees might be higher compared to Bybit and MEXC, its accessibility, ease of use, and continuous live chat support compensate for the difference.

Additionally, Kraken allows staking for an assortment of cryptocurrencies, enabling users to earn interest on their holdings. This offers a passive way to enhance your crypto assets over time, ideal for long-term investments; you can buy crypto and watch it grow without any additional effort.

Related articles: Kraken vs Binance, Kraken vs KuCoin, Kraken review

#8. Coinbase Crypto Exchange (Best for Ease of Use)

Coinbase is the leading cryptocurrency exchange in the USA, and is also very popular in South Africa due to its ease of use, and decent range of 160 cryptocurrencies.

Coinbase is well-known for its intuitive layout, easy registration process, multiple deposit options, and insurance coverage against potential cybercrime threats.

Purchasing and selling cryptocurrencies on Coinbase is remarkably straightforward. The platform features a clear menu and prominent buttons alongside each cryptocurrency. This means that beginners with no prior understanding of cryptocurrencies can set up an account and purchase crypto on Coinbase in under five minutes. This testifies to the platform's commitment to catering to crypto newbies.

However, Coinbase isn't without its drawbacks. Its crypto purchasing fees are well above the industry average. However, Coinbase users enjoy several advantages in return, such as a seamless user experience, trust in a secure US crypto exchange, and insurance coverage against cybersecurity breaches.

Related articles: Coinbase vs Binance, Coinbase vs KuCoin, Coinbase vs Bybit, Coinbase review