ZAforexTop 20 cryptocurrencies in US dollars
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Top 20 cryptocurrencies in rand
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Crypto trading basics
Cryptocurrency trading means buying and selling digital assets like bitcoin (BTC) and ether (ETH), either on a spot exchange (you own the coins) or through derivatives and CFDs (you speculate on price with leverage). Stablecoins such as USDT and USDC are designed to track the US dollar and are widely used to move money between exchanges.
Crypto vs forex
| Crypto | Forex | |
|---|---|---|
| Trading hours | 24/7 | 24/5 (Sun night to Fri night SAST) |
| Volatility | Very high | Low to medium for majors |
| Regulation in SA | FSCA-licensed CASPs | FSCA-authorised FSPs / ODPs |
| Driven by | Adoption, flows, sentiment, regulation | Interest rates, economic data, central banks |
Most crypto assets outside bitcoin and ether have small markets and can lose most of their value quickly. Beware of "guaranteed return" crypto schemes: several large South African crypto Ponzi schemes have collapsed.
Frequently asked questions
What is cryptocurrency?
A digital asset that uses cryptography and a blockchain to record ownership without a central bank.
Is crypto legal in South Africa?
Yes. Crypto assets are regulated as financial products, and providers must be licensed by the FSCA.