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How to buy bitcoin in South Africa

South Africa
Bitcoin

Bitcoin / Bitcoin (BTC) is a peer-to-peer cryptocurrency that functions as a medium of exchange, independent of any central authority. BTC can be transferred electronically from user to user: securely and irrevocably (the transfer cannot be stopped). Bitcoin is a new currency (digital money / money of the 21st century) created in 2009. The idea behind the creation of Bitcoin was to create money that no one else could control except its owner. The money is free from any authorities, its owners are completely anonymous, and the issue had a limit of 21 million tokens. Bitcoin transactions cannot be reversed. Today we will tell you how to purchase bitcoin in South Africa.

Buy bitcoin using Itez: step-by-step instruction
1.

In order to buy bitcoin, it is not necessary to register on the Itez website. In a handy calculator, you can quickly calculate the cost of BTC based on the amount you plan to use for payment. The smallest purchase amount in dollar terms is 30 USD. By the way, the same applies to the euro - the starting purchase threshold starts at €30. Well, in our instructions, as promised, we will go through all the stages of purchase BTC for dollars step by step.

2.

After converting the currency to BTC, you will see the final result in the "You Get" field and on the "Buy" button. Click the button and enter your email address in the following window.

3.

Confirm your email with a 6-digit code sent to the previously indicated e-mail and click the "Verify" button.

4.

Specify the purchase amount in the Itez dialog box. Copy the recipient address - your bitcoin wallet - from the “Accept” section.

Important: you should not manually copy the bitcoin wallet address. The blockchain system does not give any information about bitcoin addresses problems, and if an error occurs during manual entry, all the buyer's funds may be lost.

For example, this is how the copy address button looks like in the Exodus wallet:

5.

After copying the bitcoin wallet address, paste it into the dialog box.

Check your data — it is important to make sure that the address is entered correctly.

6.

After pushing the “Card details” button, enter the required card information: card number and expiration date, the cardholder name and CVC-code — three numbers on the back of the card.

7.

Push the “Pay” button and enter the one-time bank code in the following window. As soon as the transaction receives 6 confirmations in the blockchain network, your bitcoin wallet balance will be top-up.

Important: the transaction will wait for confirmations for time. After six network confirmations, bitcoin will be on your e-wallet; when buying with Itez it will take for about 15 minutes. This is a very good speed for the Bitcoin network since transactions in the most popular blockchain network are somewhat slower than in other networks due to its properties and high load.

Banks

In South Africa you have an opportunity to purchase Bitcoin (BTC) with any South African bank card. Absa Bank is a leading South African bank, followed by African Bank, Al Baraka Bank and Barclays Africa Group.

Bank cards

If you are South African or you are now in South Africa, you have an opportunity to use real debit and credit cards of Mastercard and VISA payment systems. It is also available to buy virtual cards made by special services.

How to store bitcoin

One of the most important features of BTC is decentralization. If you have a private key and a seed phrase, your digital money will be, of course, in safety. It is explained by the fact that other clients cannot make use of your bitcoin. For full list of wallets go to bitcoin.org