What Is the Best Crypto App in South Africa?
With Bitcoin reaching a new all-time high of over $100,000 in 2024, the cryptocurrency market has seen renewed momentum, leading to increased interest in crypto assets. As adoption expands and regulatory frameworks evolve, you might be looking for reliable platforms in South Africa to buy, sell, and store your crypto assets securely.
In this article, we examine the top three cryptocurrency apps in South Africa, providing an overview of their key features, regulatory compliance, and trading options.
Which Is the Best Crypto App in South Africa?
The most suitable crypto app depends on individual needs, but the best platforms typically offer competitive trading fees, robust security, and a wide range of supported cryptocurrencies and trading pairs. Based on these factors, we have identified three of the leading crypto exchanges available in South Africa:
VALR: Founded in 2018, VALR is Africa’s largest cryptocurrency exchange by trade volume, serving over 1,100 corporate and institutional clients and more than 1 million users globally. Headquartered in Johannesburg, VALR is licensed by the FSCA in South Africa, and with regulatory approvals to offer services in Europe. VALR has secured $55 million in equity funding from top investors, including Pantera Capital, Coinbase Ventures, GSR, and F-Prime, affiliated with Fidelity Investments.
Luno: Luno is a global cryptocurrency exchange headquartered in London, United Kingdom. The company has a local presence in South Africa, Malaysia, Indonesia, Nigeria, and Australia. Founded in 2013, Luno operates as an independent, wholly-owned subsidiary of Digital Currency Group (DCG) since its acquisition in 2020.
AltCoinTrader: Founded in 2012, AltCoinTrader is a South Africa-based crypto exchange that puts the key focus on security. Like VALR, AltCoinTrader has also been recently granted a CASP license by the FSCA.
VALR vs. Luno: Key Comparisons
| Feature | VALR | Luno |
|---|---|---|
| Unique Features |
- VALR Pay (Instant & free payments) - Simple Buy & Sell (100+ cryptos) - Pro Trading (Spot, Margin, Futures, OTC) - Repeat Orders (Automated buys) - Lending & Staking - API Trading |
- Repeat Buy (Automated investments) - Rapid deposits & withdrawals - Educational content - Price alerts - Bundles & Staking (ETH, ADA) |
| Supported Cryptocurrencies | 100+ cryptocurrencies, 50 spot, 28 spot margin, 8 futures trading pairs | 20 cryptocurrencies, 120+ trading pairs (spot only) |
| Deposits & Withdrawals |
- EFT bank transfers - Visa & Mastercard (Deposits) |
- EFT bank transfers - Instant deposits (Stitch) - Normal & express withdrawals - Credit/Debit card purchases |
| Fee Structure |
- No monthly/management/custody fees - 30 free normal ZAR withdrawals/month - R8.50 per extra withdrawal - Fast withdrawals: Free (Standard Bank), R30 (Others) - 1.6% flat for Simple Buy/Sell trades |
- Exchange trading: 0.4% (makers), 0.6% (takers) for low volume - Card purchases: 3.9% per transaction - Wallet service: 2% per transaction |
| Security & Regulation |
- Strong internal controls - 2FA, hot & cold wallet storage - Licensed in multiple regions (EU, SA) |
- 2FA, deep freeze storage (Bitgo, Fireblocks) - Multi-signature wallets, bug bounty program - Licensed in 7 jurisdictions (AU, EU, ID, MY, NG, SA, UG) |
Unique Features
On VALR, users can take advantage of multiple features, such as:
VALR Pay: Instant and free fiat or crypto payments.
Simple Buy & Sell: Easily buy and sell over 100+ cryptocurrencies, including BTC, SOL, and TRUMP.
Pro Trading: Trade a wide selection of crypto assets on Spot, Spot Margin, Futures or OTC.
Repeat Orders: Automate cryptocurrency purchases at regular intervals by setting up repeat orders on VALR.
Lending: Put your crypto to work by lending stablecoins (USDT, USDC) and a wide selection of crypto assets to earn hourly yield.
Staking: Stake SOL, AVAX, or TRX and earn up to 5% APR - with the flexibility to stake and unstake anytime.
For institutions: Gain a competitive edge, innovate, and keep your organisation ahead of the curve with VALR for Business.
Another notable VALR feature is the crypto app’s application programming interface (API) trading service.
It is a powerful tool that enables you to execute your trading strategies rapidly with over 99% uptime and high rate limits, as well as access to both real-time and historical market data. With VALR’s Websocket and Rest APIs, you can take advantage of 24/7 automated trading with low-latency and reliable endpoints.
On the other hand, Luno offers its users the following features:
Automate crypto investments with Repeat Buy.
Rapid deposits and withdrawals through Luno's wide range of payment partners.
Educational content via the Explore section.
Set up price alerts to receive notifications about major digital asset price movements.
Besides the ones above, it’s also important to mention two of Luno’s flagship features: bundles and staking.
With the former, you can gain exposure to a wider range of cryptocurrencies in a single investment. Bundles provide a similar experience to the traditional finance market’s exchange-traded funds (ETFs), and they track CoinDesk’s Large Cap Select Index, rebalance automatically every three months, and include only carefully vetted digital assets (no memecoins). This offers a beginner-friendly and effortless way for anyone to make long-term investments in cryptocurrencies.
At the same time, Luno’s customers in South Africa and Malaysia also have access to the company’s staking service. Currently, you can stake either Ethereum (ETH) or Cardano (ADA) via the crypto app, allowing you to generate a passive income with your otherwise idle coins.
Supported Cryptocurrencies
VALR supports Simple Buy & Sell transactions for over 100 different cryptocurrencies. At the same time, users can also access 50 spot (14 for ZAR), 28 spot margin (11 for ZAR), and 8 futures (2 for ZAR) trading pairs via Pro Trading.
Luno offers 20 cryptocurrencies and over 120 trading pairs on its Exchange service, with the platform featuring multiple pairs for ZAR. While the selection of exchange trading pairs is more than at VALR, users can only trade on the spot market via Luno.
Deposits and Withdrawals
On VALR, users can deposit and withdraw funds from the platform in South Africa via the following methods:
EFT bank transfers (deposits and withdrawals)
Visa and Mastercard (deposits)
South African users have access to the following payment methods on Luno:
EFT bank transfers
Instant deposits via Stitch
Normal and express bank transfer withdrawals
Moreover, Luno also allows South Africa-based users to instantly purchase crypto via a credit or debit card.
Fee Structure
VALR has introduced a new tiered fee structure where users are assigned a tier based on their 30-day rolling volume on spot and futures pairs. More details on the tiered structure can be found here.
Key highlights:
VALR charges no monthly fees, management fees, custody fees or account opening fees.
30 free ZAR normal withdrawals per month; thereafter, R8.50 per withdrawal.
Fast withdrawals to Standard Bank are free and auto-enabled.
Fast withdrawals to RTC and other banks cost R30 per transaction.
Besides the ones above, VALR charges a flat 1.6% for all Simple Buy/Sell trades.
Simultaneously, Luno's fee structure looks like the following for cryptocurrency trading:
0.4% for makers and 0.6% for makers on the Exchange service for users with 30-day trading volumes between 0 and 20,000 Rand (it can be decreased to as low as 0.05% for makers and 0.02% for takers for higher volumes)
For instant crypto purchases with a debit or credit card, Luno charges a 3.9% fee per transaction.
Buying or selling crypto through Luno’s Wallets service (not on the Exchange) comes with a 2% fee per transaction.
These fees may change, so it’s best to check Luno’s website for the latest updates.
Security and Regulation
VALR prioritises users' security, ensuring their funds' safety through measures like strict internal controls, advanced security features (e.g., 2-FA), asset storage via a combination of hot and cold wallets, and a 100% fully-reserved platform.
In terms of regulation, VALR is licensed in multiple countries and regions, including the EU, and South Africa.
On the other hand, Luno's security measures include features like 2-FA and passwords, deep freeze storage managed by Bitgo Custody and Fireblocks, a multi-signature hot wallet, offline private key storage, and an active bug bounty program.
On the regulation front, Luno features licenses in seven different jurisdictions: Australia, the EU, Indonesia, Malaysia, Nigeria, South Africa, and Uganda.
Get Started on VALR
VALR is among the best crypto apps in South Africa, offering a wide selection of cryptocurrency trading pairs, features, as well as deposit and withdrawal methods. Simultaneously, while the platform features highly competitive fees, it safeguards users' assets through a variety of security measures and a compliant service licensed in South Africa, and the EU.
Ready to start trading crypto on VALR?
Frequently Asked Questions (FAQ)
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The best crypto app in South Africa combines a wide range of features, security measures, cryptocurrency pairs, and payment methods with a competitive fee structure and a compliant service tailored for South African users.
Based on the above factors, we have selected VALR, Luno, and AltCoinTrader as the best cryptocurrency apps in South Africa.
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Yes, you can use a crypto app like VALR to buy over 100 cryptocurrencies.
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Crypto apps charge South African users different fees for trading, withdrawals, deposits, and other actions or transactions, with their rates varying by the service, trading pair, and payment method. You can view VALR’s charges here.
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The best crypto app in South Africa is the one that aligns with your preferences the most. While VALR supports a wider range of cryptocurrencies, as well as offers more competitive fees and unique features, Luno has more exchange trading pairs and regulatory licenses,
Risk Disclosure
Trading or investing in crypto assets is risky and may result in the loss of capital as the value may fluctuate. VALR (Pty) Ltd is a licensed financial services provider (FSP #53308).
Disclaimer: Views expressed in this article are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.
