Easy Crypto South Africa Review
What is Easy Crypto South Africa?
Easy Crypto South Africa is a crypto platform with operations in five different countries: New Zealand, Australia, South Africa, Brazil and Nigeria. This is a review of the South African version of the platform. The platform has been up and running since 2017.
Easy Crypto South Africa Advantages
As main advantages with the platform, the platform itself states four different points. First, they guarantee the safety of your funds. They don't go into detail on how they specifically do this, but they promise that they do on their website. Second, they highlight that you can use automatic recurring orders to employ dollar-cost-averagig strategies and the like. Third, they highlight that you can do crypto swaps, and fourth and finally, they emphasize that you as a trader can use Easy Crypto South Africa's educational resources to learn more about cryptocurrencies and cryptocurrency trading.
Easy Crypto South Africa Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you.
Easy Crypto South Africa's purchase interface gives you the option to insert the exact amount of USD, EUR or RUB that you wish to spend or the amount of BTC you wish to buy. This purchase interface makes it very easy to understand if you’re new to crypto, yet it might not offer all the advanced buy/sell features more experienced traders look for. Here’s a peek at Easy Crypto South Africa’s interface:
It is worth noting here that out of the four different countries in which this platform has operations, only one of them also offer a more advanced trading view, and that is Easy Crypto in New Zealand.
Easy Crypto South Africa Fees
Easy Crypto South Africa Trading fees
This particular platform is more a cryptocurrency store than a cryptocurrency exchange (although they also offer crypto swaps). This makes it difficult to compare the fees charged by Easy Crypto South Africa with the industry average trading fee at a regular centralized exchange (0.221% for takers and 0.178% for makers), seeing as Easy Crypto South Africa offers another type of service than most centralized exchanges do.
Easy Crypto South Africa charges 0.90% per trade.
To conclude on the trading fees, there are definitely cheaper ways to obtain crypto around the world than through using the Easy Crypto South Africa platform. Easy Crypto South Africa's advantages are speed and convenience, rather than price. Compared to its industry peers in South Africa though, the trading fees charged by Easy Crypto South Africa are competitive.
Easy Crypto South Africa Withdrawal fees
There are exchanges out there that charge low trading fees but then hit you on your way out with high withdrawal fees. This exchange, however, only charges the network fees when you do a transaction.
According to the latest empirical study that we have performed on Cryptowisser.com, the global industry BTC-withdrawal fee is 0.00053 BTC per withdrawal. The network fees vary from day to day but are roughly 25% lower than the global industry average BTC-withdrawal fee. Consequently, the withdrawal fees you need to worry about when withdrawing from Easy Crypto South Africa are relatively low and consumer friendly.
Deposit Methods and US-investors
Why do so many exchanges not allow US citizens to open accounts with them? The answer has only three letters. S, E and C (the Securities Exchange Commission). The reason the SEC is so scary is because the US does not allow foreign companies to solicit US investors, unless those foreign companies are also registered in the US (with the SEC). If foreign companies solicit US investors anyway, the SEC can sue them. There are many examples of when the SEC has sued crypto exchanges, one of which being when they sued EtherDelta for operating an unregistered exchange. Another example was when they sued Bitfinex and claimed that the stablecoin Tether (USDT) was misleading investors. It is very likely that more cases will follow.
Easy Crypto South Africa does not allow US-investors on its exchange. So if you’re from the US and would like to engage in crypto trading, you will have to look elsewhere. Luckily for you, if you go to the Exchange List and use our exchange filters, you can sort the exchanges based on whether or not they accept US-investors.
Easy Crypto South Africa does in fact accept fiat currency deposits. Payment can be made via bank transfers in Rands (ZAR) and also by credit card. This means that Easy Crypto South Africa qualifies as an entry-level exchange, where a new crypto investor can take his/her first steps into the exciting crypto world.