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How to Buy and Sell Cryptocurrency in South Africa

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Topit is a crypto exchange platfrom that makes it easy for South Africans to buy and sell bitcoin and other cryptocurrencies in South African Rand


Topit is a fintech solution that offers a centralized crypto exchange that makes trading easier and faster for its users.     

South Africa has a thriving crypto community, and it’s not hard to see why. With the hype about Bitcoin and other Crypto coins, and the South African government embracing crypto as a medium of exchange, There has been a massive increase in the number of new crypto investors from South Africa.     

To this effect, so many cryptocurrency exchanges have emerged to solve the problems surrounding crypto trading. One of such platforms is Topit - a fintech solution on a mission to build a new financial system for the African continent.      

As a beginner who is yet to get the hang of the crypto market, or perhaps, in the search for the best crypto exchange in South Africa, read on to find out how Topit is making it easy for people to buy and sell crypto in South Africa.      

Topit: A Pan-African Solution For The Crypto Market     

Founded by two African crypto traders and blockchain experts, Topit is the crypto exchange of the future. And it is changing how people in Africa invest in cryptocurrencies like Bitcoin, BNB, Ethereum, and more.      

At the moment, Topit has its presence in Kenya, South Africa, Nigeria, Rwanda, Uganda, Botswana, and Zambia. The platform allows individuals and businesses to trade in 11 cryptocurrencies: Bitcoin, ETH, USD Coin, BNB, Tether, Paxos Standard, DOGE, TRON, Chainlink, Cardano, and Ripple.     

Aside from having a great profile, the company is unarguably one of the best things that have happened to the South African crypto community.      

You will know why as we dive in deeper.      

Topit: The Cryptocurrency Exchange for Every South-African     

Many Africans have joined the bull run into the crypto market, following Pakistan, Ukraine, India, and Vietnam as the most prominent crypto markets globally. A  Chainanalysis report shows that Africans have recorded a 1200% increase in crypto trading, accruing up to $105.6 billion (about Rs. 775 crores) between June 2020 and July 2021. Incidentally, South Africa took second place after Nigeria. Thereby making South African a huge crypto marketplace in Africa.      

Cryptocurrency has risen in popularity in South Africa over the past few years, especially during 2017 when bitcoin hit an all-time high. The South African government, in the bid to regulate and facilitate crypto exchange, has developed crypto laws to enable taxation for crypto-assets and also reduce crypto scams.      

Another notable development is the installation of five Bitcoin ATMs in four cities in South Africa (Cape Town, Johannesburg, Pretoria, and Mbombela (Nelspruit)) to enable individuals and businesses to buy bitcoins with the local currency. The ATMs also allow users to transact without sign-ups or identity verifications. But what could have been a great solution to crypto traders came with a high commission rate of about 5-10%.      

Asides from that, the ATMs offer a one-sided exchange, and the commission rates were pretty high, thereby increasing the need for efficient crypto exchange platforms.      

Because of that, Several peer-to-peer platforms emerged in the last few years.      

However, not many crypto exchanges allow South Africans to conveniently trade in their local currency without exchanging their Rands into USDs and other foreign Fiat currencies.      

But that is not the case with Topit. Topit goes above and beyond to make it easy for South Africans to transact and invest in Cryptocurrencies in their local currency. This means that one can directly buy, sell or exchange cryptocurrency in Rand from anywhere and anytime.      

Topit is a highly secure and straightforward solution for South Africans to buy and sell crypto through their bank accounts. It is making life easier for every South African to buy and sell crypto without the hassle of going through foreign exchange.      

They have simplified the process by making it possible to buy cryptocurrency directly through their online platform at your convenience, without hidden fees, and at very affordable rates. They also hope to launch the Topit mobile apps anytime from now to make things even more accessible.      

That said, now, find out how Topit keeps to its words of making crypto trading as easy as saying ‘hello’     

How to Buy And Sell Crypto With Topit     

Whether you are a beginner who wants to learn how to buy and sell cryptocurrencies or searching for the best crypto exchange in South Africa, Topit provides a state-of-the-art crypto exchange platform for stress-free transactions. And with the following steps, you can easily trade and exchange crypto efficiently and conveniently.    

However, before you can start transacting, you will need to sign up with the following steps:     

  • Visit their website at  www.topit.africa and click on "Get Started" to register.     
  • Input your details in the spaces provided.     
  • Upload the required KYC documents to get verified.     

This is to enable a seamless transaction when buying crypto. After that, you are free to start trading on the platform.      

How To Buy and Sell Crypto in Minutes     

  1. Log into your Topit Wallet     
  2. Click on Buy/Sell Crypto, depending on the action you want to take      
  3. Make sure your account is funded before you buy Crypto.     
  4. Choose the cryptocurrency you want to buy - Bitcoin, ETH, USD Coin, Tether, Repo, DOGE, TRON, Chainlink, Cardano, Buyout     
  5. Key in the amount of crypto you want to buy or sell.     
  6. The fiat equivalent will be added to your Topit Fiat account.      

How Safe Is Topit?      

One of the biggest reasons why people shy away from using fintech solutions is the concern about safety and security. Not everyone wants to shift their focus from the traditional banking systems because of the sense of safety they enjoy with traditional banks.      

However, with the restrictions and bans on crypto and crypto-related assets, peer-to-peer exchanges and similar fintech platforms have become the go-to solutions for crypto traders. But that does not mean you should play the risky game on every platform that promises to help you buy crypto.     

Topit is highly secure with end-to-end encryption to ensure that users’ details are tightly guarded. Other security features include:       

  • Multi-factor authentication      
  • Account linking to specific IP addresses     
  • Email notifications on suspicious activities      
  • Blocking unauthorized withdrawals      

Including a special anti-fraud department to make sure all these boxes are checked in terms of security. Although all the security features listed have been integrated into Topit’s system to make it secure from intruders.      

On the Issue of Crypto Scams     

Users should also be aware that scamming is a popular occurrence in the crypto space, and they exist in various forms. Several crypto platforms have used hacking as their exit strategies, thereby ripping investors off their monies and cryptocurrencies.      

In addition to that, several crypto exchanges have suffered severe losses due to hacking. For example, Coincheck lost over $534 million worth of cryptocurrencies to hackers in 2018, to mention but a few. The more reason why you should conduct due diligence or only trade on trusted and highly secure platforms.      

More so, users are advised only to send cryptos or Rand values to trusted or verified accounts. And also, be wary of online schemes that demand crypto payments, as they can not be traced.     

Wrapping Up     

Crypto trading is a complicated and risky venture, especially related to the potential of losing money on an investment. Still, it is also one of the fastest ways to make money on the internet. However, Topit has put in the necessary factors to curb these risks.     

“At Topit, we’re firm believers that crypto goes beyond investing in coins and tokens; it’s about providing our clients with valuable tools that help them make informed decisions. Our platform brings together the power of machine learning, intelligent data analysis, and artificial intelligence to help people stay ahead of the pack in an industry as competitive as the crypto business.”      

On the other hand,  Topit makes trading seamless and fast. Users can easily transact and receive their monies or crypto values in minutes without paying gatekeepers or intermediaries. And for South Africans, buying and selling cryptocurrencies has never been made easier.       

 


 

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