How To Buy Ethereum In South Africa

The crypto space is particularly known for its constant volatility. Whether favorable or unbearable, finance futurist have often argued that crypto is the future of money. If the rapid adoption and case uses of major cryptocurrencies are insufficient to drive this course to fruition, the creation and utilisation of Central Bank Digital Currencies (CBDC) in most economies in Africa, Asia, Europe and the Americas is yet another reason to believe in this unprecedented forecast. As such, If you want to learn how to buy Ethereum (ETH) in South Africa during this period at the best rates, this article is for you.

In 2022, South Africa’s Financial Sector Conduct Authority (FSCA) declared crypto assets to be a financial product. This milestone puts digital assets under the responsibility of South Africa’s regulators. Thus, it is safe to say that trading crypto in South Africa is a legal venture.

In this article, we share the three simple steps to buy and sell  Ethereum in South Africa.

Top Five Reasons To Buy Ethereum In South Africa

1. Zero banking fees

Ethereum transactions do not require any banking fee. They are seamless, convenient and transparent.

2. Low transaction fees 

Ethereum transactions have low fees compared to transactions with other money transfer agencies at both national and international levels.

3. Secure and Mobile-friendly 

Successful Ethereum transactions can be completed in less than 5 minutes. All you need is a smart phone connected to the internet and a legit Crypto exchange platform on which you can trade Ethereum. No need to queue up in banks and be exposed to physical insecurities.

4. International currency

The more people use Ethereum, the more it is accepted for the payment of goods and services and the settlement of debts. Like Bitcoin, Ethereum is globally being considered a Universal currency. Across Africa and Europe, Ethereum transactions can serve the same purpose as the Euro or USD.

5. Swift transaction time

International transactions come with lots of inconvenience ranging from transaction limits to the duration a transaction may take to be completed. The experience with banks is even more constraining. On the contrary, Ethereum transactions are instant and smooth. When we talk of transaction speed using Ethereum, think of the delivery speed of a text message.

Buy Ethereum In South Africa On Yellow Card

Looking for where to buy Ethereum in South Africa should be the least of your worries.
Yellow Card offers a fast, reliable and instant service permitting you to buy, sell and store Ethereum at the best rates at the time of your convenience. 

On Yellow Card, you can buy Ethereum using the South African Rand (ZAR) from your bank account. Also, you can sell the Ethereum in your crypto wallet and directly cashout the equivalent in your bank 

Anyone can have a crypto wallet from which they can trade Ethereum. This does not require any prior experience. All you need is a smart phone with an internet connection and a Yellow Card Account from which your transactions can be carried out.

How To Buy Ethereum In South Africa In 3 Simple Steps

Yellow Card has made the process of buying Ethereum simple, interesting and user-friendly. They are as follows: 

1. Sign up for an account

Create a Yellow Card account for free. You can do this using the web application or by downloading the mobile application on your device from Google Play for Android and  App Store for  iOS.

2. Fund your account with South African Rand (ZAR) 

After creating your Yellow Card account, log in and select "Deposit" from the menu on your dashboard. Fund your account either from Standard bank transfer or Instant EFT.

For Standard bank transfers :

• Input the amount you wish to add to your wallet and Confirm;
• Deposit into the bank account displayed on your screen;
• Once your deposit has been confirmed, the funds will reflect in your ZAR balance; 
• You can withdraw your funds anytime, as any amount added to the wallet belongs to you and you alone.

For Instant EFT:

You can now link one of your bank accounts to Yellow Card for quick, free and easy deposits.

• Input the amount to be deposited and select "Continue.";
• Confirm the amount being deposited and continue to Select Bank;
• Under Stitch payment, choose your bank;
• Follow the prompts and log in to your internet banking profile;
• Review and confirm your transaction. 

Once the transaction is approved, the funds will reflect in your ZAR balance at no cost.

3.  Buy Ethereum using Standard Bank transfer or Instant  EFT

After funding your wallet, buy Ethereum at any desired amount by following the steps below:

• From your dashboard, select Ethereum and log in to your account,  then enter the amount you want to buy in ZAR;
• Confirm the transaction and have your ethereum instantly sent into your wallet.

How To Sell Ethereum In South Africa On Yellow Card. 

When you receive an ETH transaction on your yellow Card wallet and want to sell it, follow the procedure below:

1. Sign in to your Yellow Card account
2. Select “Ethereum” and click “Sell”
3. Enter the amount you want sell and confirm your transaction. Instantly, your balance in ZAR will reflect the amount you just sold.
4. Withdraw the  amount from either your Standard Bank or Instant EFT(This depends on the medium linked to your Yellow Card account).

Conclusion

There has never been a perfect time to enter the crypto space, as bear or bull markets are regarded as an opportunity for crypto traders with a good mastery of the market’s dynamics. However, Crypto experts, experienced investors, and other financial gurus have always advised people that want to venture into investments on the importance of diversifying their investment portfolios. Hence, as you buy Ethereum, consider buying bitcoin and other valuable digital assets. And always remember to invest only the amount you can stand to loss.

Start buying Ethereum