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How to Make Profit Selling Bitcoin in South Africa During 2020

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selling bitcoin in South Africa

Looking to make a little extra on the side? Look no further, we’re here to show you how to sell Bitcoin for a profit in South Africa in 2020. We’ve included a detailed breakdown, some tips, and tricks of the trade, and thrown in some inside scoops to get you that step ahead. Let’s dive in!

First, you’re going to need an account on the P2P trading platform Remitano. The platform has created peer-to-peer marketplaces around the world, with markets dominating in India, US, and the Philippines to name a few. This year, Remitano brought their services to South Africa, offering local traders not only an easy way to buy and sell cryptocurrencies, but also a convenient ZAR wallet that allows you to deposit and withdraw funds efficiently.

Registering is easy, and completing the simple KYC registration process is simple and should take a matter of minutes. Once you’re registered, let’s get into it.

How To Make Profit Selling Bitcoin

The easiest and fastest way to make a profit selling Bitcoin is to buy for a lower price than you sell. Obvious, right? It really can be that simple. Assuming that you have Bitcoin (if not, find out how to buy Bitcoin from a local trader and pay in South African Rands), you’re going to need to create a sell advert selling the BTC for a little extra. How much extra is up to you to decide, but remember not to get too wild with your markup otherwise you’re less likely to find a buyer. 

Step 1: Establish your BTC price

You’re going to want to sell your BTC for profit, so make sure that you add an amount on the top of what you paid for it when creating your sell ad. You also want to ensure that your price is competitive, so check on another reputable platform to see what the going rate is. 

E.g. If you bought BTC for R179,800 and it is selling for R181,634 on Luno, you might want to round up the price to R182,000 for your Sell ad. This will give you roughly R2,200 profit.

Step 2: Create a sell advert so you can sell BTC for profit

Now that you’re verified to sell on the platform and you’ve got a price in mind, it’s time to get to business! Head to your Dashboard, click on P2P Exchange in the dropdown menu, and select Your Advertisements. Then click “Create Ad”.

Remitano 2

Step 3: Enter the details of your Sell ad

In the form enter the details of your sell ad, like how much you’d like to sell for and how much BTC you have. The amount is calculated in ZAR/bitUSD and will show you the ZAR/BTC equivalent below.

You’ll also need to enter how much BTC you’d like to sell, and how you would like the funds to be paid. Here you have 3 options: bank transfer, Remitano ZAR wallet, and Chipper Cash. 

Remitano 2

FYI: If you are wanting to create a sell ad for another cryptocurrency you can simply click on the pencil icon in the top right corner (as per picture above) and change the details (as per picture below). On Remitano, traders can buy and sell Bitcoin, Ethereum, Tether, Bitcoin Cash, Litecoin, and Ripple. 

Remitano 3

In the Create New Ad page you also have the option of exploring the Advanced settings, where you can adjust things like minimum and maximum BTC amount, whether to reject unverified buyers and check the payment window. 

Now click “Create new advertisement”.

Step 4: Make a ZAR deposit to activate your account

In order for your ad to go live, you will need to deposit a small amount into your ZAR account, this lets the platform and the seller knows that you are serious about selling.

Step 5: Wait for a buyer

That’s it, once your ad is live you’ll be notified immediately if a buyer is interested in purchasing either a portion or the entire Bitcoin (the amount that you put up for sale). Once a buyer has expressed interest, they will make payment to your Remitano ZAR wallet and you will have 15 minutes to release the BTC once payment has been received. 

Tips On How To Make Profit Selling Bitcoin

When looking to take on selling BTC to earn extra profits, here are some top tips to remember:

  • Always work out your BTC sell price to be above the amount you bought it for plus commission to sell. I.e. BTC sell price = BTC buy price + commission fees charged by the platform
  • Remitano is currently offering 0% trading fees on the platform, meaning you take home more
  • Keep an eye on the markets, buying low, and then waiting for the price to rise before selling is a profitable game of patience.
  • There are no deposit fees on Remitano, so what you deposit is yours.

Sell BTC Like A Boss

Now you’re ready to start selling BTC at a profit. In this handy guide, we’ve shown you the ropes on how to trade on the P2P trading platform Remitano and given you some great tips on what to remember when trading for profit. 

Disclaimer: This is a sponsored post. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

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5 Reasons to Trade Crypto on PrimeXBT

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PrimeXBT

If you are a crypto owner, you know how important it is to choose a high-quality cryptocurrency exchange that offers a wide range of trading options.

In this guide, we take a look at five reasons why you should check out PrimeXBT.

What is PrimeXBT?

PrimeXBTPrimeXBT is an all-in-one trading platform that allows users to trade cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH) Ripple (XRP), commodities, foreign currencies, and major stock indices like NASDAQ and S&P 500.

PrimeXBT is different from other trading platforms in that it doesn’t operate as a peer-to-peer (P2P) platform. Instead, it operates as a Straight-Through Processing (STP) platform. This means orders are sent to liquidity providers instead of using the market-making algorithm thus offering more liquidity and preventing slippage.

Now that we know what PrimeXBT is, why exactly should you trade on PrimeXBT?

Below, we take a look at five reasons why you should trade your cryptocurrency on the PrimeXBT platform.

1. Easy-to-Use Platform

The PrimeXBT platform is very easy to use. Its design makes it ideal for both beginners and veterans alike.

To start with, the platform doesn’t have a wallet that is separate from the main exchange. Instead, it has five different wallets that are linked within the exchange. Each wallet belongs to each specific digital currency. Users can make direct deposits from their personal crypto wallets to their PrimeXBT account or use third-party services like Paxful to purchase cryptocurrencies.

PrimeXBT allows you to easily make deposits and withdrawals, as well as create and track your multi-currency wallets while accessing other important features. Its support team is also available 24l7 and in the event of downtime or outage, PrimeXBT also compensates its users.

2. Copy Trading

Trading can be quite tricky especially for beginners. However, with PrimeXBT’s covesting feature, users are able to see and copy how experienced and successful traders are trading on the PrimeXBT website.

Covesting

The copy trading feature is an exceptional way for those without the trading know-how to make passive trading income. Besides, experienced traders are also able to publicly create their own trading strategies and portfolio for others to heed. It’s important to note that to be a covesting leader, the minimum amount of personal funds needed is dependent on the currency.

3. Trade with Leverage

Another exciting reason to trade crypto with PrimeXBT is the ability to trade with leverage with up to 100 times the amount you invest. Leverage trading is also known as margin trading.

On PrimeBXT, users are able to trade using borrowed funds from the platform, thus increasing their market exposure and profit potential. Although leverage trading can be very rewarding, it’s also risky and is best left for experienced traders. Trading newbies who want to try margin trading can do so on PrimeXBT’s demo platform using fake funds to learn the tricks.

4. Wide Range of Tradable Assets

Nothing excites crypto traders than having a wide range of tradable assets. PrimeXBT provides users with access to more than 50 assets such as forex, cryptocurrencies such as Bitcoin and Ethereum, commodities such as metals and gas, and stock indices. Users are also able to deposit various cryptocurrencies on the platform such as USDC, USDT, ETH, etc. 

PrimeXBT Bitcoin

Additionally, the platform has a simple fee structure and offers very low fees compared to other trading platforms.

5. Yield Accounts

PrimeXBT enables users to have yield accounts and yield farm using different digital currencies. With a yield account, users are able to provide liquidity and earn from it while also still allowing for the platform’s continuity. With PrimeXBT, users are able to earn up to 10% annual percentage yield (APY) on their crypto.

Furthermore, PrimeXBT’s yield accounts make getting started on decentralized finance (DeFi) easy as users don’t need any technical knowledge.  

If you are keen on growing your cryptocurrency trading portfolio then PrimeXBT is a must-try trading platform for you. 

Disclaimer: This is a sponsored post written by a third party. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

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Enter the World of Crypto-Based CFD Trading With Fondex

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Crypto-Based CFD Trading

The crypto sector made its way from being an enthusiast-backed way of payment to becoming an industry with $2 trillion in market capitalisation. However, getting on board the crypto bandwagon is still cumbersome, while the volatility can sometimes inflict massive losses to crypto holders.

Fondex.pro is the perfect platform for entering the trading world while getting the most of the marvelous world of the crypto sector and managing a portfolio of assets easily, and securely. You can gain access to over 1000 assets, all in one trading application. The trading platform offers crypto enthusiasts the chance to use their favorite crypto assets, as well as six more asset classes and deposit directly with Fondex, eliminating intermediaries like banks and crypto-to-fiat conversions, which democratises crypto transactions in the CFD world.

Transforming the way investors and traders interact with CFD platforms, however, is no easy task. Fondex.pro’s seamless deposit process directly in cryptocurrency eliminates the hassle of converting funds into the account’s fiat currency (i.e. EUR, USD, CHF, etc.), boosting convenience and transparency.

By utilising the award-winning cTrader platform, Fondex also expands the possibilities for CFD traders without compromising transparency or feature availability. Fondex strives to provide a fast, future-thinking, modern, technology-oriented and reliable crypto CFD trading brokerage tool, which makes the process of depositing and withdrawing super easy and fast.

By eliminating the processes required by other brokers and the hassles of making bank transfers, Fondex.pro is making onboarding streamlined and requiring only a minute or two to sign up. Furthermore, the company offers a completely free account and free deposits with low spreads and a vast array of trading options.

The introduction of cryptocurrencies into CFD trading is also eliminating waiting times for banks to process the deposit or withdrawal of funds, which also sometimes come with high processing costs, especially for cross-border settlements. In order to streamline the process, users simply have to transfer their funds from their wallets to a special Fondex wallet, which happens almost instantly, and start trading on the platform.

The Fondex.pro CFD Platform In Details

Fondex.pro

Fondex.pro utilises the award-winning cTrader platform for granting you exposure to over 80 Forex pairs, more than 900 share CFD from top companies, and enter the world of crude oil and natural gas trading. Furthermore, the platform enables you to invest in 15 of the most used indices, as well as invest in precious metals and exchange-traded funds all in one place and with a single crypto wallet.

On the other hand, the key advantages of using Fondex as a go-to platform for investments and portfolio management are the tight spreads and leverage up to 1:500.

Another key element of the Fondex.pro platform is the access it provides to users to over 70 pre-installed analytics tools such as trend indicators, oscillators, lines, shapes, and volatility measures, which help users decide the best possible strategies for their investments. Also, you can create your own custom indicators, or download them from the database.

You can also place orders directly from the 4 chart types, which the Fondex platform has utilised, as well as create templates of your analysis for future use.

Crypto owners can use Fondex as a perfect way to hedge against volatility by placing direct orders on Bitcoin CFDs, for example. Also, the platform allows for an easy, double-click approach for both long or short positions, making it a marvelous tool for taking advantage of the volatile nature of cryptocurrencies.

Leverage is yet another powerful tool for investors, as values reach up to 1:500 for Forex trading. However, opening a leveraged position comes with its risks, despite being able to open a large position with less capital.

For novice investors, Fondex added several useful tools for gaining confidence and momentum – the Copy and Automate functions.

Copy allows you to bring home hundreds of proven, effective investment strategies and use them instantly, or to become a Strategy Provider and share the knowledge with other traders.

Automate is a wonderful tool to eliminate the pressure from making rookie mistakes and benefit from higher speed and accuracy. The cBot functionality can be upgraded with custom indicators, which can aid users in creating their own trading robots.

All trades are processed with zero commission, full transparency, and a robust risk management algorithm.

Opening An Account On Fondex

Fondex

Opening an account on the Fondex.pro platform takes only a minute or two. You simply have to enter a valid e-mail, choose a password, and provide their mobile phone number for security reasons. The next stage is answering a couple of questions and providing verification documents since the company requires user verification.

Once you are approved, you can set up your BTC trading account with just a few clicks. Simply navigate to the upper right corner of the screen, click on their live account, and select the “Create new Trading Account” option.

A context menu with all supported currencies would be brought up, so you have to select BTC and input the amount in the account you want to deposit.

In order to deposit Bitcoin into the account, you have to navigate to the “Deposit” tab at the left-side menu. Mobile users have a similar way of depositing, with Android users having to navigate to the bottom navigation bar, while iOS users have to tap the main menu and select “Deposit”. The next step involves entering the unique BTC deposit address into the user’s wallet and completing the transaction. Simple as that!

Disclaimer: This is a sponsored post written by a third party. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

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Bitcoin Wallets: Which is the Best and Most Secure Bitcoin Wallet?

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Most Secure Bitcoin Wallet

The first and most crucial step towards becoming a crypto trader or investor is owning a wallet. But what is a crypto wallet? In simple terms, your crypto wallet is what gives you access to your crypto coin. Unlike what most people wrongly believe, crypto wallets do not actually store cryptocurrency. Blockchain technology, a global decentralized database, is where cryptocurrencies are confirmed.

Crypto wallets are simply unique addresses that store public or private keys for cryptocurrency transactions. The wallets enable you to execute transactions such as sending or receiving cryptocurrency successfully.

Often, when people want to learn how to trade bitcoin, they do not pay so much attention to their wallet choice. Yet, starting your crypto journey by choosing the best bitcoin wallet is one of the most intelligent investment decisions you’ll ever make.

While literally, countless crypto wallets are available today, there’s a need for extra care when choosing one. Why? Your choice of crypto wallet will significantly affect the safety and security of your crypto investment. Using the wrong crypto wallet can put your crypto investment at risk and result in a terrible investment experience.

Cryptocurrency wallets are of two forms – hot wallets and cold wallets. Hot wallets allow you to store your bitcoin online and are directly connected to the internet. They are often available in desktop, mobile or web formats and help to facilitate easier transitions. Cold wallets, on the other hand, are somewhat a direct opposite of hot wallets. They are a relatively new technology that aims to improve the security and safety of cryptocurrency. Cold wallets come in small, encrypted portable devices that enable you to carry your cryptocurrencies everywhere you go. They are hardware-based and may cost a few hundred dollars to acquire.

Desktop wallets

These are Hot wallets that operate on your computer system. They store your bitcoin on your computer and help you gain complete control of your bitcoin or cryptocurrency. Thus, you have no “third-party” factor to consider or fear. Third-parties may freeze crypto accounts or even cause users to lose their coins. Desktop wallets steer you clear of these risks. Typical examples are Atomic wallets, Electrum and Exodus.

Mobile wallets

As the name suggests, mobile wallets are wallets that run on your smartphone and thus stay with you at all times. They help you make on-the-go transactions, keeping everything you need to trade in the palm of your hands. They are often available in iOS and Android apps and offer highly convenient crypto payment methods. Typical examples of mobile wallets are ZenGo, BitPay, GreenAddress and Mycelium, and Atomic Wallet.

Web wallets

Web wallets operate in your browser just like a website would operate. They are also referred to as “online bitcoin wallets” and used to be the choice of many investors. However, as cybercrime and crypto frauds gain more attention in the crypto and technology space, web wallets have lost the trust of online or web wallets. They are more susceptible to attack as these web wallets are stored by a third-party website that you do not own or control. And as the famous saying goes, if you don’t solely hold the keys to your cryptocurrency, then the coins aren’t really yours.

Irrespective of the kind of wallet you use, the first step towards the safety and security of your investment is to keep your passwords safe. Your password gives you full control over your crypto transactions and investment, so letting it slip into the wrong hands can pose serious threats to your coin’s safety. However, most digital wallets offer more than just password protection. You could find other security features such as crypto encryption, two-factor authentication and so on. These extra protections will boost the security of your bitcoin but don’t replace the need for personal care and the protection of information.

The best and most secure wallet for your bitcoin investment

There are a few factors to consider when choosing the best bitcoin wallet. When these factors are put in check, they can transform your experience as a bitcoin trader. The least you want to do to become a successful trader or investor is to put your investment on the right platform.

1. Ease-of-use

The right bitcoin wallet shouldn’t be another set of technical tools that require sophisticated learning to understand or use. This is one key reason why ZenGo is the best bitcoin wallet for any kind of investor or trader. Buying, selling, trading, earning bitcoin interest and even earning free bitcoin has never been more effortless. Imagine the stress of filling pages of forms before gaining access to a crypto wallet, quite unimaginable, isn’t it? With ZenGo, it takes less than 19 seconds to own a bitcoin wallet and start trading. Plus, you literally don’t need to provide any documents.

2. Versatility

Although bitcoin remains the most popular and frequently traded coin, there are yet other coins that traders can greatly benefit from. You don’t want your crypto wallet to restrict or limit your trade opportunities. ZenGo offers over 70 crypto assets, including bitcoin, ethereum, and dogecoin. This is another core reason why it is one of the best. Smart investors take advantage of several crypto coins and know what to look out for before taking that bold step. Thus, with ZenGo, you can increase your portfolio and earning opportunities without having to switch platforms.

3. High security

Passwords, private keys, and seed phrases are great ways to secure your crypto funds. However, they aren’t the best. The fear of misplacing passwords accidentally or even landing them in the wrong hands is another thing that haunts crypto enthusiasts. Luckily, ZenGo, arguably the best bitcoin wallet, offers an innovative and effective solution to this. With facial biometrics, you wouldn’t have to worry about passwords and private keys anymore. You can now truly have full control over your funds and recover your account easily from any device. ZenGo is more than just secure; it’s the most secure.

4. Limitations

Crypto wallets often set minimums and maximums for transactions. This itself has been a huge challenge for high-profile traders and investors. ZenGo understands that there are basically different levels and categories of traders. Thus, it offers its users absolute freedom and control over transactions without extra fees. Users can send or receive any amount of bitcoin or other assets without having to worry about limitations as long as there are enough funds to cover the network fees. And yet, another mind-blowing reason why ZenGo is the best bitcoin wallet for you.

5. Unmatched customer support

If you’ve ever needed to resolve an urgent wallet-related issue and got disappointed by poor customer support, you probably will understand how much that hurts. In business, nothing beats effective customer support. And since that’s exactly what ZenGo stands for, no other wallet beats ZenGo. Unlike some other bitcoin wallets that depend on AI to resolve customer complaints, ZenGo uses real human agents for better understanding. Due to this, users can get a response in less than two minutes and be certain that their complaints are well understood.

But that’s not all. ZenGo also allows you to

  • Choose from the 3 network fees modes (economy, regular, fast). Applicable for BTC, ETH, ERC20.
  • Cancel or speed up your sent transactions before they are confirmed on the blockchain with 1 tap.
  • Get $10 cashback in Bitcoin for purchase of $200 by applying the code ZENX0B4G

Obviously, ZenGo remains the best bitcoin wallet for all kinds of traders across the globe.

Disclaimer: This is a sponsored post written by a third party. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

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