Traditional banks are slowly becoming a thing of the past, and crypto exchanges are quickly becoming the new banks of the future. That’s why choosing a trusted and FSCA-registered crypto exchange is just as important as choosing the right bank.
I’ve been investing in crypto since 2020 and have used many different exchanges over the years. This experience has helped me understand which crypto exchange truly works well in South Africa.
How To Choose The Best Crypto Exchange
Choosing the right crypto exchange is important. Not all platforms are the same, and some are simply better for South African users than others.
Here’s what we’re looking for:
- Easy to use
- Deposit / Withdrawal fees.
- Registered with the FSCA.
- They provide exclusive features
Keeping these points in mind, you’ll have a much easier time finding the right exchange for your crypto journey.
Best Crypto Exchanges in South Africa
The top 5 best crypto exchanges in South Africa are Binance, ByBit, Varl, Luno, and AltCoinTrader.
Exchange | Rating | Minimum Deposit | Minimum Withdrawal | Payment Methods |
|---|---|---|---|---|
 | ★ 4.9/5 350+ cryptos, easy UI | R10 No charges for ZAR deposit | R0 R20 fee for Instant withdrawal | Bank Transfer, P2P, Crypto |
 | ★ 4.7/5 400+ cryptos, slightly complex UI | R0 No fees for ZAR deposits | Varies No direct ZAR withdrawals only P2P | Bank Transfer, P2P, Crypto |
 | ★ 4.6/5 60+ cryptos, user-friendly SA focus | R0 3.9% fee on deposit via credit/debit card | R0 30 free withdrawals per month (R8.50 thereafter) | Bank Transfer, Crypto |
 | ★ 4.2/5 10+ cryptos, beginner-friendly, limited choice | R15 1.25% deposit fee, then Deposits over R1,000.00: R9 flat fee | R10 The withdrawal fee is R20.00 | Bank Transfer, Crypto |
 | ★ 3.9/5 30+ cryptos, outdated UI | R15 5.5% Maximum of R95.00 | R16 + 0.5% R16 + 0.5% Maximum of R95.00 Instant withdrawals R60 – R140 | Bank Transfer, Crypto |
🥇 Binance
Binance is one of the biggest and most trusted crypto exchanges in the world. It offers over 350+ cryptocurrencies and is well-known for its easy-to-use platform. You can buy and sell crypto using ZAR through bank transfers, P2P (peer-to-peer trading), or crypto deposits
Founded: July 2017 by Changpeng Zhao (Grand Cayman)
Funding & Assets:
- Global exchange with over 7,000 employees
- Revenue of $16.8 billion in 2024
Customer Support:
- Offers 24/7 live chat, email ticketing
Coins Supported:
- 350+ cryptocurrencies, including popular and niche altcoins
Deposit/Withdrawal Details:
- ZAR deposits: via P2P, crypto deposits, limited bank card options
- ZAR withdrawals: via Instant Payout (~R20 fee)
- Crypto withdrawals: network fees apply (e.g., ~0.0005 BTC)
🥈ByBit
ByBit is well-known for advanced trading options like futures, leverage, and copy trading. It offers more than 400 cryptocurrencies.
Founded: 2018 by Ben Zhou (Dubai/Singapore headquartered)
Funding & Assets:
- Bybit’s revenue is in the range of $100M to $1B in 2024
- Suffered a $1.5 billion hack in Feb 2025, but remains fully solvent and offered full refunds
Customer Support:
- Live chat and email ticketing
Coins Supported:
- 400+ tokens, including futures products
Deposit/Withdrawal Details:
- No direct ZAR bank support
- Deposits/withdrawals via crypto and P2P only
🥉VALR
VALR is one of South Africa’s own crypto exchanges. It’s easy to use, supports ZAR bank deposits, and offers over 60+ cryptocurrencies. VALR is also registered with the FSCA, making it a trusted choice for locals
Founded: 2018 by Farzam Ehsani in South Africa
Funding & Assets:
- Total Funding Amount $55M
- With 51 to 100 employees
Customer Support:
- Email, South African office with local support team
Coins Supported:
- 60+ major and altcoins
Deposit/Withdrawal Details:
- ZAR EFT deposit/withdrawal: free or R8.50 per transaction (30 free withdrawals per month)
- Crypto deposits and withdrawals are supported
4️⃣Luno
Luno is very popular among beginners in South Africa. It offers a simple app and focuses on the biggest coins like Bitcoin and Ethereum. Luno is FSCA-registered, so it’s safe to use
Founded: In 2013 by Marcus Swanepoel , London/Bulgaria
Funding & Assets:
- With over 500 employers
- Estimated Total Funding Amount $13.8M
Customer Support:
- In-app chatbot (“Toshi”), email support, no phone
Coins Supported:
- 10+ major coins (BTC, ETH, LTC, etc.)
Deposit/Withdrawal Details:
- ZAR deposit: R9–R15 (bank transfers)
- ZAR withdrawal: R10–R20 per transaction
5️⃣AltCoinTrader
AltCoinTrader is another South African crypto exchange. It’s been around for a long time and offers 30+ cryptocurrencies. While the platform’s design feels a bit outdated, it is reliable and trusted
Founded: In 2015 by Richard de Sousa (South Africa)
Funding & Assets:
- Making approximately $4.3 million in revenue
- With over 40 employees
Customer Support:
- Email, telephone support during business hours (9–16:30)
Coins Supported:
- 30+ cryptocurrencies, including niche tokens and tokenized gold/silver
Deposit/Withdrawal Details:
- ZAR via EFT/Ozow: deposit fee 0.5%–1.4%, withdrawal flat R16–140 depending on method
- Crypto deposits/withdrawals supported
Conclusion
Binance is the best crypto exchange for both beginners and experienced crypto investors. It offers the most coins, the best tools, and some of the lowest fees globally.
But if you’re looking for a truly local exchange, VALR is the best option for South Africans. It’s simple to use, fully FSCA-registered, and even lets you use your crypto at Pick n Pay stores through their payment partnerships.
FAQs
ByBit offers the most advanced tools, including up to 100× leverage
VALR offers free ZAR deposits and up to 30 free withdrawals/month, with small fees after that.
Yes: VALR, Luno, and AltCoinTrader hold official local registrations. While Binance is FSCA registerd through parnership with FiveWest