Where and How to Get Bitcoin

In South Africa, you can use a platform called Luno to buy and sell, not only Bitcoin, but Ethereum as well. This platform is a trading platform which gives you the opportunity to buy and sell Bitcoin, in other words, a bitcoin company. Luno has almost 2 million customers on their platform.

First, you have to log into the www.luno.com platform, by signing up and creating a Luno account. After signing up you have to verify your identity to buy and sell cryptocurrencies. The process is similar to opening a bank account. On the Luno platform, you can log onto a website and also on mobile applications. You need to enter your phone number and personal details. Luno is available in South Africa; there are, however, other platforms which don’t allow certain countries to buy and sell cryptocurrencies and bitcoins.

You need to submit documents of high–quality photos or scans of your national identity book, identity card or passport. Also, it will ask you for proof of residence where your name, address of residency and date of issue is clearly visible.

You will be issued with a Bitcoin wallet address which will look something like this: 1ExAmpLe0FaBiTco1NADr3sSV5tsGaMF6hd. When you sign up with a Luno account your own unique Bitcoin wallet address will be given to you where someone can pay bitcoins into your address.

In South Africa, the only payment method is EFT. When you do a deposit into your account on Luno the deposit fee with an EFT is for free. A withdrawal is ZAR 8.50.

 

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