Buying #Bitcoin in South Africa, the simple guide

Buying #Bitcoin in South Africa, the simple guide

People all over South Africa are talking about Bitcoin and cryptocurrencies and you might want to dip your feet into it but are not sure how to do it. My advice is sign up on Luno and purchase some Bitcoins or some Ethereum. The biggest and most stable cryptocurrencies are Bitcoin (BTC) and Ethereum (ETH).

If you are interested in buying Bitcoin and Ethereum, we have provided a simple guide below.

Buying Bitcoin in South Africa

The easiest way to buy Bitcoin is with rand through a reliable local exchange, like

Register an account on the Luno website and verify your email address to get started. The next step is to transfer rand to your Luno account.

Once you have created an account use the promotional code: “5WAAS” to receive R10 worth of bitcoins when you purchase R500 or more worth of bitcoins.

Select the “Deposit Money” option on the account dashboard and follow the on-screen steps – choosing your bank and the amount of money you want to deposit.

Luno will then provide you with its banking details for your deposit and a unique reference number.

Visit your online banking profile and transfer the amount you specified to the Luno account, including the Luno reference number.

The funds will appear in your Luno account after one to two business days.

When the rand deposit is received by Luno, it will reflect in your Luno account. You can then buy Bitcoin by selecting the “Buy” option from the Luno dashboard.

The purchased Bitcoin will be credited to your Luno Bitcoin wallet and the rand cost will be deducted from your Luno rand balance.

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