If you’re looking for an easy and secure way to buy VeChain (VET) in South Africa, you’ve come to the right place. Here we will explain everything you need to know so that you can start buying VeChain today!

What is VeChain (VET)?

VeChain is a blockchain project that was started in 2015 by the VeChain organisation. VeChain aims to make supply chain management easier for businesses all around the world. VeChain can be used by any business or large corporation to track products from their manufacturer to the consumer.

VeChain is one of few blockchains that operates on a two token system. This means that the blockchain has 2 native tokens, VeChain (VET) and VeChain Thor (VTHO). The VET token is used to transfer value and for smart contracts built on the blockchain. VTHO is earned through holding VET in your wallet, and it is used as gas to pay for transaction fees.

What are the advantages of VeChain (VET)?

VeChain solves quite a few important problems when it comes to supply chain management. These include:

• Quick on boarding – VeChain is said to have a quick and easy on boarding process for new clients and businesses.
• Unique economic model – VeChain has an economic model that is quite different to other cryptocurrencies. The two token systems allow for benefits such as lower fees.
• Lower transaction fees – Transaction fees do not increase as the price of VET increases. This is because VTHO is the token that is used to pay for transaction fees, and it tends to not move as much in price.
• Development – There is quite a bit of promising development happening on VeChain. This is good as it indicates that there is an interest in the project and a growing demand for the token, which is always a good sign in the cryptocurrency space.

How to buy VeChain (VET) with Rand in South Africa?

Buying VET in South Africa is actually much easier than you may think. Easy Crypto makes it safe and easy for anyone in South Africa to buy VeChain and over 70 other cryptocurrencies.

How to store your VET coins?

Safely storing coins is one of the most important things you need to do when investing in cryptocurrencies. You can greatly reduce the risk of losing coins to hacks by finding a good, safe, and the best cryptocurrency wallet based on your prefrences.

There are many different wallets to choose from. You can go with a mobile wallet such as TrustWallet, a desktop wallet such as Exodus, or a hardware wallet such as Trezor.

Hardware wallets are the most secure as they store funds offline, reducing the risk of a hack. The most popular wallets are currently Trezor and Ledger.

Feel free to check out Easy Crypto’s Learn-site for a more detailed explanation and information on cryptocurrency wallets, or contact our team if you have any questions or need assistance with anything

So, how was it? Are you interested in trying VeChain (VET) for the first time? Do not hesitate to visit Easy Crypto website if you want to buy VET today in South Africa or any other cryptocurrencies.

We’re always happy to help

The post How to Buy VeChain (VET) in South Africa? appeared first on Easy Crypto.

Besides Bitcoin, the choice to buy Ripple (XRP) here, in South Africa is a great decision too. Ripple (XRP) is one of the altcoins that has the potential to compete Bitcoin in the cryptocurrency market. That’s why if you’ve heard of Bitcoin, you’ve likely heard of Ripple (XRP) as well.

Now, if you’re getting confused about Ripple (XRP), stay calm. Today, let us guide you through and we’ll tell you everything about this altcoin. From the story of its origin to how easy it is to buy Ripple (XRP) in South Africa. Just remember to take some notes.

Okay, let’s start with the basic.

What is Ripple (XRP)?

To start a discussion about Ripple (XRP), it is important to make a distinction from the start. Ripple is sometimes interchangeably known as ‘XRP’. Ripple is a separate company to the XRP token. Ripple is a real-time gross settlement ecosystem that also promotes XRP. So, when you buy Ripple (XRP), it means you are buying the XRP token, not Ripple.

XRP is a cryptocurrency that was started by Ripple Labs in 2012, making it one of the longest standing cryptocurrencies to date. Ripple aims to help financial institutions settle payments by using their different payment networks, one of them being the XRP network.

Ripple aims to make its payment networks and XRP fully compliant with international laws and regulations.

What are the advantages of Ripple (XRP)?

The main selling points of Ripple (XRP) is its speed, its low transaction fees, and its scalability. Here are some details of its benefits:

• Transactions made on the XRP network are settled within 4 seconds.
• The average Ripple (XRP) transaction fee is $0.00001.
• The XRP network is capable of processing 1500 transactions per second and can be scaled to handle even more in the future.

Those numbers are quite significant when you compare them to other cryptocurrencies:

• Bitcoin
  BTC’s main chain can handle about 4 – 7 transactions per second. With an average fee of about $2 – $5.
• Ethereum
  The ETH network can handle about 15 transactions per second. With an average fee of $0.62.
• Litecoin
  LTC can handle about 56 transactions per second. With an average fee of $0.56.

The XRP network is also capable of helping banks and financial institutions to settle transactions in traditional fiat currencies such as the South African Rand, the US Dollar, or even other cryptocurrencies such as Bitcoin.

Is Ripple (XRP) legal in South Africa?

Yes, Ripple (XRP) and other cryptocurrencies in South Africa are 100% legal! Our government, along with governments of other countries, has realised that cryptocurrencies are here to stay, so we should be embracing them rather than trying to ban or fight them. South Africa has been said to be ‘leading the crypto revolution in Africa!‘, so it is highly likely that cryptocurrencies, including Ripple (XRP), will not be made illegal in South Africa anytime soon :).

How to buy Ripple (XRP) in South Africa?

To buy Ripple (XRP) in South Africa you’ll need to sign up with a local exchange or broker. Luckily, here at Easy Crypto, we make it extremely easy for anyone in South Africa to buy Ripple (XRP) or over 70 other altcoins!

So, how was it? Are you interested in trying Ripple (XRP) for the first time? Do not hesitate to contact Easy Crypto if you want to buy this altcoin today or any other cryptocurrencies in South Africa.

We’d always happy to help

The post How to Buy Ripple (XRP) in South Africa: A Simple Guide appeared first on Easy Crypto.

The interest shown towards Bitcoin in South Africa has been growing at an exponential rate over the past few years. Yet many people still find it hard to understand exactly why Bitcoin is so important, especially for South Africa and other African countries.

Although this may come as a surprise to some people, South Africa has been called “the next frontier for crypto exchanges” and “the 6th biggest ‘Bitcoin Maximalist’ country in the world“. It’s also clear that Bitcoin dominates the South African cryptocurrency market when you take a look at the volume on local crypto exchanges.

So why has this happened? Why have so many South Africans started to show interest in Bitcoin?

Why is Bitcoin Popular in South Africa?

Bitcoin helps South Africans combat many monetary problems that they are faced with on a daily basis. Here is a list of just a few of these problems:

• CURRENCY DEVALUATION – Currency devaluation is a big problem faced in many countries all around the world, including South Africa. The South African rand has lost over 60% of its value when compared to the dollar over the past few years! In simple terms, this means that the currency we hold can purchase fewer goods and services.
• INFLATION/HYPERINFLATION – Bitcoin has a set supply of 21 million coins. This means that Bitcoin is not affected by inflation or hyperinflation because of this unique property. The South African Rand has an annual inflation rate of over 5%, while Bitcoin has an inflation rate of 1.82%, and this will continue to decrease as time goes on.
• BANK THE UNBANKED – Over 11 million South Africans don’t have access to a bank account. By using Bitcoin we could allow for all these people to participate in the economy. Bitcoin is free for anyone to use, all you need is a simple device and an internet connection. Bitcoin also allows people to send money to anyone, anywhere in the world instantly and for a cheap fee. This will allow many people in Africa to easily send money home to family members that live in a different province or country.
• INVESTMENT/SPECULATION – Although Bitcoin fixes all these problems, it is still bought by people as a speculative investment. Many believe that Bitcoin will continue to increase in price as time goes on. Just like it has in the past.

It is safe to say that Bitcoin has gained a lot of traction here in South Africa, and it doesn’t look like that will change anytime soon.

Why should I get involved in Bitcoin?

We cannot tell you whether you should or shouldn’t get involved in Bitcoin. However, what we can tell you is that you may miss out on a big opportunity by ignoring Bitcoin. Bitcoin was declared as the best performing asset of the last decade. The cryptocurrency rose by over 9 000 000%. Going from R0 to nearly R200 000 per coin at today’s current price.

How To Buy Bitcoin in South Africa

Now that you’re ready to buy Bitcoin you’ll need to find a local exchange or broker. Exchanges can be very complicated and difficult to use, especially if you are new to crypto. For this reason, we’d recommend going with a local broker, such as Easy Crypto South Africa

Why should I use Easy Crypto?

• Easy Crypto has some of the most competitive prices and fees in South Africa.
• We deliver your Bitcoin to your wallet within minutes.
• We are a non-custodial broker, meaning we don’t hold your crypto or private keys for you and your funds are in your control at all times.
• Easy Crypto makes it easy for anyone in South Africa to sign up and buy Bitcoin within minutes.

Please don’t hesitate to contact us if you need assistance with anything or have any questions, we’d be more than happy to help!

The post Top Reasons Why Bitcoin is Popular in South Africa appeared first on Easy Crypto.

To buy altcoins in South Africa is not complicated. First, when people mention altcoins, they are simply referring to any coin other than Bitcoin (BTC). Second, nowadays you can buy altcoins through many platforms that already exist. But since thousands of cryptocurrencies are circulating on the internet, it can be understood why buying altcoin is not always an easy job.

Trying to navigate through cryptocurrency space can be a daunting task. You need to consider a lot of things before making the decision. Luckily, in this guide, we’ll be sharing everything that you need to know about buying altcoins in South Africa and which exchanges you should consider using. 

What are altcoins?

Before you read this article, you’ve probably heard the term “altcoin” at least once, even if you are new to cryptocurrency. Altcoins, or alternative coins, refers to every cryptocurrency that isn’t Bitcoin. Thousands of altcoins have been created since Bitcoin first started in 2009. In fact, there are still over 5000 cryptocurrencies in existence today, you can check them out on CoinMarketCap.

Altcoins can come into existence in a few different ways. A few of these include:

• The results of forking cryptocurrency, which could be a hard fork cryptocurrency (E.g. Bitcoin Cash), or a fork of the code of another coin (E.g. Litecoin).
• A coin/token that doesn’t run on its own blockchain (E.g ERC20 tokens built on Ethereum).
• A completely new blockchain.

What are the best altcoins to invest in?

Deciding which coins you should buy is something that only you can decide on. We’ve included a brief description of the top 3 altcoins below:

• ETHEREUM
  Ethereum aims to be the worlds biggest decentralized computer that is capable of running and executing complicated smart contracts and run tokens on top of it. We’d recommend taking a look at Ethereum official website for further information.
• XRP (RIPPLE)
  XRP is a coin developed by a company called Ripple. Ripple aims to help drastically improve global settlement time by allowing banks and financial institutions to use their coin to settle international transactions in a matter of seconds. Check out Ripple’s official website for more information on XRP.
• LITECOIN
  Litecoin is one of the older altcoins, which went live in October 2011. Litecoin is very similar to Bitcoin because it is a fork of Bitcoins codebase. The only difference is that Litecoin has shorter block times (2.5 minutes compared to Bitcoins 10 minutes), and it has lower transaction fees.

*Please make sure you do your research before buying any altcoins to make sure you understand what you are buying and to avoid any scams

How to choose the right place to buy altcoins in South Africa?

Now that you know what altcoin is and its many types are, the next question would be how to choose the cryptocurrency exchange to buy altcoins in South Africa. Choosing the right cryptocurrency exchange can be a difficult and confusing task. Here are some tips on what to look for when choosing a crypto exchange:

• FEES
  This tends to be the make or break when people are looking for an exchange to use. Unfortunately, it’s just about impossible to find any exchange that has 0 fees. Of course, you want to use an exchange with competitive and low fees. It’s up to you to decide how much you are willing to pay towards fees, in our opinion anything under 2.5% is a decent exchange fee.
• EASE of USE
  Many crypto exchanges are quite complicated and are nearly impossible to use if you are new to the cryptocurrency industry. Most people will look for an exchange that has a clean and easy to use interface.
• VERIFICATION PROCESS
  Any exchange that supports fiat currencies (such as the Rand) will require KYC/AML (Know Your Customer/Anti Money Laundering). It is however still possible to find cryptocurrency exchanges that do not support any fiat deposits/withdrawals that will allow users to trade completely anonymously. It is always best to find an exchange that has a simple and quick sign up and verification process.
• COINS LISTED
  One of the big things that people look for when trying to find an exchange is the coins that they have listed. This is something that will be different for everyone, but if you are planning on purchasing multiple altcoins try to find 1 exchange that has all/most of them rather than having to sign up and deposit funds onto multiple exchanges.

Where can I buy altcoins in South Africa?

You’ve come to the right place if you’re looking for the best exchange to buy Bitcoin and altcoins in South Africa! Here, Easy Crypto makes it quick and easy for any South African to purchase over 70 cryptocurrencies in the world!

Why should I use Easy Crypto?

• Easy Crypto has some of the most competitive pricing and fees in South Africa.
• Easy Crypto makes it extremely easy for anyone in South Africa to purchase Bitcoin and cryptocurrencies, even if you have no experience.
• We deliver coins to your wallet within minutes.
• You are in control of your funds at all times.
• We have over 70 different cryptocurrencies listed on our site.

How can I buy altcoins with Easy Crypto?

If you need any help with setting up your account, verify your account, placing an order, or anything else, please don’t hesitate to contact Easy Crypto team, we’d be more than happy to help!

Now, are you interested in buying Ethereum, or any other altcoin in South Africa?

The post The Best Crypto Exchange to Buy Altcoins in South Africa appeared first on Easy Crypto.

There are already tons of businesses that accept Bitcoin in South Africa. Here, we have collected all the information for you.

Although Bitcoin is mostly seen as an investment, it can also be used as a medium of exchange to pay for goods and services. More and more businesses have started accepting Bitcoin as a form of payment as the price and adoption of the cryptocurrency have slowly begun to increase. Here in South Africa, you can pay many businesses in Bitcoin. But why? Why have those businesses started to adapt their transactions with Bitcoin?

Why should businesses accept Bitcoin?

There are many reasons as to why businesses choose to accept Bitcoin as a form of payment. A few of these include:

• Greater security (transactions are irreversible once they get confirmed, therefore the risk of a chargeback is significantly reduced when compared to a card or bank payment).
• Lower transaction fees (although not always the case, Bitcoin transaction fees tend to be much lower than traditional banking fees).
• International payments (making international payments with Bitcoin is much easier, cheaper and more secure than any traditional payment method).
• Brand reputation (By being one of the first businesses to accept Bitcoin in South Africa and around the world you can create a good and unique image for your business).
• Bitcoin supporters (tons of people in the Bitcoin community are likely to notice your business and even support your business if you accept Bitcoin as a form of payment. You also get to say that your business accepted Bitcoin in its early days).

How long do Bitcoin transactions take?

Due to the decentralized nature of the blockchain technology in Bitcoin, transaction times can vary. Transactions can be confirmed within minutes, but they can also take a few hours. Bitcoin transactions confirmations take about 10 minutes on average. After about 6 confirmations a transaction is considered final, however, 1 confirmation will be sufficient for smaller transactions. This means that it’ll take about +-1 hour if you want to wait for 6 confirmations (6 confirmations x 10 minutes per block = 60 minutes/1 hour).

There are currently layer 2 solutions that are being developed which will allow Bitcoin transactions to be much cheaper and settled instantly. An example of a layer 2 solution is the lightning network. The lightning network allows for microtransaction to be sent and received for a near 0 fee, and practically instant. It is likely that we will see more businesses accept layer 2 payments as they are much quicker than layer 1/on chain payments.

Some businesses that accept Bitcoin transactions in South Africa

We’re always on the lookout for businesses in South Africa that accept Bitcoin as a form of payment. Here is a small list of businesses that accept Bitcoin in South Africa:

• RunwaySale
  South Africa’s largest online fashion sales store offering members exclusive 70% discounts on major fashion labels.
• Earthchild
  A homegrown South African fashion retailer specializing in organic cotton casual wear.
• Cape Coffee Beans
  South Africa’s most popular online coffee bean distributor.
• weFix
  South African repairers of all kinds of consumer smart devices, including popular Apple products.
• Takealot.com
  South Africa’s largest homegrown e-commerce store.

This is just a small selection of South African businesses that accept Bitcoin, there is likely many more out there.

Where to buy Bitcoin in South Africa?

To buy Bitcoin easily in South Africa you’ll need to do it through a local exchange or broker. Exchanges tend to be quite confusing and intimidating to users who are not familiar with them. For this reason, we’d recommend using a broker such as Easy Crypto.

Easy Crypto is the best option to go with because:

• We have some of the most competitive prices in South Africa.
• We are able to deliver Bitcoin to your personal wallet within minutes of you paying for your order.
• You are in control of your funds at all times when using Easy Crypto.
• We offer over 70 other cryptocurrencies on our website.

Easy Crypto’s goal is to make Bitcoin and cryptocurrencies easily accessible to everyone in South Africa, not just those with technical and computer skills. Feel free to reach out to us at any time if you need help with signing up or completing your order, we’re always more than happy to help!

The post Businesses That Accept Bitcoin in South Africa appeared first on Easy Crypto.

One of the most prevalent uses for blockchain technology is cryptocurrency. It is the digital record of money that creates a unit of exchange that is earned or spent or saved between the users of the cryptocurrency community, much like traditional money, but digitally. The community has a consensus mechanism through which they reach agreement on what is acceptable or not on the platform. Blockchain technology is the backbone of the cryptocurrencies.

Cryptocurrency is a digital currency that upgrades old school fiat currencies like Dollar, Rands and Pounds. By placing digital currency on the blockchain, it has the following advantages over fiat currencies.

What are the benefits of cryptocurrency?

• Instant Payment Globally
  As how many online payment systems work, cryptocurrency users can pay for their coins anywhere, as long as they have internet access. The difference is, your identity and personal information are not necessary.
• Fraud Reduction
  It is impossible to reverse a cryptocurrency transaction due to the blockchain architecture.
• Lower Fees
  Since cryptocurrency transactions have no intermediary institutions or government agencies involved, the costs of every transaction are low.
• You Are Your Own Bank
  Cryptocurrency users have full control in how they want to spend their own currency independently, without dealing with intermediary institutions, for instance, a bank or a government agency.
• Strong Security
  The technology is based on a decentralised network which makes it has strong cryptography methods.
• Irreversible
  Once you confirm a transaction, there would be no way to reverse it. Not even government agencies.
• Adaptable
  The technology can be used for all types of fintech solutions.

The first and most common example of cryptocurrency is Bitcoin. Other examples include Ethereum, Litecoin, and Bitcoin Cash.

The concept of cryptocurrency is becoming more popular than blockchain technology and this is because it deals with the financial activities and transactions which people tend to use more frequently. Blockchain technology, however, is used in more than just cryptocurrencies world and financial services. Almost all sectors and industries like agriculture, engineering, international trade, and healthcare all embed the blockchain technology into their operations to make their process more efficient and effective.

Easy Crypto is a digital currency exchange service that provides a service to our customers to convert fiat money like Rands and US Dollars to cryptocurrencies like Bitcoin or else which use blockchain tech. With a minimum transaction size of R300 or $20, we make it very easy to open an account and buy your first cryptocurrency.

The post Cryptocurrency: How Will You Benefit from It? appeared first on Easy Crypto.

Today, it isn’t hard to find any Bitcoin ATM in South Africa. The machines already exist in about 7 areas. And like most ATM machines, a Bitcoin ATM machine helps users to do some transactions right on the spot, both for paper money and online wallet.

Now, you must be wondering what Bitcoin ATM looks like and how it is used. Is it the same as a conventional ATM?

Here’s to answer your questions and curiosity about Bitcoin ATM in South Africa.

Everything you need to know about Bitcoin ATM

How else can I buy Bitcoin in South Africa?

Another way of buying Bitcoin in South Africa is through a local exchange or broker. Exchanges can be quite confusing and intimidating for someone who isn’t familiar with how they work. For that reason, we’d recommend going with a broker, such as Easy Crypto South Africa

Easy Crypto makes it easy for anyone in South Africa to purchase Bitcoin and over 70 other cryptocurrencies!

Feel free to check out any of the other articles that we’ve published on our Learn-page, or contact Easy Crypto team if you need assistance with anything, we’re more than happy to help wherever we can!

The post Bitcoin ATM in South Africa: What, Where, & How to Use? appeared first on Easy Crypto.

Are you looking to buy USDC in South Africa? If that’s the case, you can buy USDC or swap other crypto coins you already own for USDC, right here at Easy Crypto. Here, we’ll look at how, as well as which option might be right for you. But first, let’s have some introduction with USDC.

USDC (USD Coin) is a stablecoin that benefits from one-to-one backing by the U.S. dollar. As a crypto investor, you can, therefore, buy USD Coin, to protect your crypto wealth from diminishing during market downturns.

What is the purpose of buying USDC in South Africa?

USDC Coin is not a digital asset that you invest in like Bitcoin. This is because the purpose of the two coins is entirely different.

As it stands, there are two main use cases for USDC in South Africa. As a cryptocurrency trader or investor, you can use USDC Coin solely to protect your cryptocurrency wealth from major market downturns.

If you own $1,000 (U.S.) in BTC and swap this for $1,000 in USDC at Easy Crypto, you will still have $1,000 in USDC tomorrow, even if Bitcoin crashes to zero in the interim.

Sadly, if Bitcoin goes up in value after you swap BTC for USDC Coin, you won’t make any gains. For this reason, South African cryptocurrency traders usually swap coins like Bitcoin for USDC repeatedly, depending on cryptocurrency market conditions.

Can I use USDC as digital dollars?

As well as using USDC to protect your existing crypto wealth from cryptocurrency market downturns, it is also possible to use USDC as a digital U.S. dollar.

Many South Africans use cryptocurrency in business contexts to settle international transactions quickly. Many others use cryptocurrency to transfer money quickly to family members living outside of South Africa.

In both cases, it is possible to use USDC as a replacement for other cryptocurrencies. Transactions still settle quickly. All that you don’t have to worry about is sudden coin price fluctuations. As is often the case like with coins like Bitcoin.

What is the difference between USDT and USDC?

At present, an alternative to USDC Coin exists in the form of Tether (USDT).

At face value, both USDC and USDT offer similar benefits. Each coin benefits from 1:1 backing by the U.S. Dollar. Each is also accepted worldwide by a growing number of users, businesses, and cryptocurrency exchanges.

The main difference between USDC and Tether rests with the fact that USDC is made available by the JP Morgan company, Circle. As a result, regular audits ensure that every USDC in circulation is backed by a real U.S. Dollar.

By comparison, Tether does not make audits available to the public. As a result, some question whether USDT is really backed by real U.S. Dollar reserves.

Why should you buy USDC?

If you are looking to use a stablecoin to protect your cryptocurrency wealth from market downturns, USDC is likely your best option. Regular audits by Circle mean that funds you store in USDC are always 100% safe. This is slightly different from when using USDT, given current auditing doubts.

How to buy USDC in South Africa?

Do you already own Bitcoin or other top market cap cryptocurrencies? Have you ever tried to sell or exchanged Bitcoin for South African Rand? If that’s the case, you will know just how quickly coins like Bitcoin can fall in value.

Thankfully, it is now possible to use Easy Crypto to lockdown your crypto wealth.

At Easy Crypto, we make it easy to buy USDC Coin directly in South Africa. However, we also make it easy to instantly swap Bitcoin (or other altcoins you own) for an equivocal amount of USDC.

• Protect your existing crypto wealth by instantly swapping Bitcoin for USDC before market downturns.
• Swap coins back or swap USDC for other altcoins at any time.
• If you don’t already own coins like Bitcoin, you can buy USDC in under 2-minutes through Easy Crypto.

At Easy crypto, we are the only exchange where you can buy USDC Coin or swap other coins for USDC in under 2-minutes. We also offer the lowest local fees in South Africa on all coin transactions.

The post What Is USDC: Where & How to Buy USDC in South Africa? appeared first on Easy Crypto.

Many people are currently looking for guides on how to buy Ethereum in South Africa. It’s no surprise since Ethereum is the worlds second biggest cryptocurrency, after Bitcoin. The price of Ethereum has shot up over the past few years. The first recorded price of Ethereum was $0.30 when ETH had its ICO in 2015. At the time of writing the price is $235, and it reached a high of over $1400 during 2017!

What is Ethereum?

A developer named Vitalik Buterin created Ethereum in 2015. Ethereum is slightly different to Bitcoin. Rather than challenging the current financial system, Ethereum aims to be the worlds first decentralized platform than runs decentralized applications, also known as dApps.

Anyone in the world can develop and deploy decentralized applications and tokens on top of the Ethereum blockchain. Businesses have been showing a keen interest in Ethereum as it allows them to utilize blockchain technology without having to build and develop their own, unique blockchain.

What are the use cases of Ethereum

One of the biggest use cases is currently tokens running on the Ethereum blockchain, these are known as ERC20 tokens. These are essentially other cryptocurrencies built on Ethereum. If we take a look at CoinMarketCap, we can see that Ethereum is dominating in the token industry.

Another big use case is smart contracts. A smart contract is essentially a program or computerized contract that’ll execute once a certain task has been complete or a certain condition has been met. Some real world examples of how smart contracts can be used include:

• Smart contracts can be used by insurance companies.
• Smart contracts can be used for voting or elections.
• They’re great for fundraising.
• Companies trying to earn money through an ICO can use smart contracts.

How can I buy Ethereum in South Africa?

To buy Ethereum easily in South Africa you’ll need to setup an account with a local exchange or broker. Exchanges tend to be quite confusing and intimidating, especially if you’ve never used one before. Luckily, Easy Crypto is simple and easy to use for anyone in South Africa!

The post How to Buy Ethereum in South Africa appeared first on Easy Crypto.

To choose the best cryptocurrency wallet in South Africa is an important thing to do. It belongs to the first things that you have to prepare before you make the first cryptocurrency purchase. This is because the wallet will not only be the place to store the cryptocurrency but also the tool for you to control the money.

Cryptocurrencies have many differences when compared to traditional assets that everyone may be used to. One of the biggest differences is that cryptocurrencies allow for someone to take full control of their own money. This means that when cryptocurrencies are stored in your wallet, you are the only person who can access these funds. As amazing as this is, it also carries a few risks. And what are the risks?

Here’s everything you need to know about cryptocurrency wallet in South Africa. We’ll be going over the different types of wallets that you can choose from, and the security of each type.

What is cryptocurrency wallet?

You can think of cryptocurrency wallet as the equivalent of your bank account for your South African Rands. However, the key difference between the two is the fact that you are the only person who has access to the funds stored in your cryptocurrency wallet. Unlike a bank account, no one can help you gain access to these funds if you lose the wallet, it is therefore very important to keep it safe.

Before you can invest in cryptocurrency you’ll need a wallet that will allow you to store your coins. It is very important to ensure that you choose a wallet that provides the right amount of security for your crypto. Over $1.7 billion worth of cryptocurrency was stolen in 2018 alone. You can protect yourself against theft and hacks by choosing the correct cryptocurrency wallet.

What is the best cryptocurrency wallet in South Africa?

Again, choosing the right wallet is important. However, it can also be quite difficult to decide which one is best for your needs. Here in South Africa, as in other countries, there are several types of cryptocurrency wallet to choose from according to your preferences.

The first thing you should learn is cryptocurrency wallet can be categorized into hot wallets or cold wallets. The first one, hot wallets are the wallets that are on your computer or your phone, they are convenient but they are at a higher risk of getting hacked because they are connected directly to the internet. The second one, cold wallets are slightly less convenient to use. However, we would strongly recommend using one as they store your funds offline, keeping your crypto safe from hackers.

Let us give you more information on hot wallets and cold wallets

Hot Cryptocurrency Wallets

There are different types of hot wallets that you can choose from. Majority of them are free so it’s entirely up to you to decide which one you’d prefer to go with.

• Desktop Wallets
  It can be downloaded and run on your laptop or computer. These wallets connect directly to the internet so it is important to make sure that you don’t have any viruses or malware on your computer. They are very convenient, but they are not suitable for larger sums of money.
  
  Electrum, a Bitcoin-only desktop wallet, is one of the examples. It’s simple to set up and use. It’s also open-source and well known throughout the Bitcoin industry. Another example is Exodus, which supports over 100 different cryptocurrencies. It is also simple to set up and use.
• Mobile Wallets
  Mobile wallets can be downloaded onto your phone through an app store. These are similar to desktop wallets, they’re both convenient to use however they are not the most secure option. Storing all your cryptocurrency on your phone is risky as there is a possibility that you end up losing your phone or someone manages to hack your phone. It is recommended to only use mobile wallets for holding small amounts of cryptocurrencies at a time.
  
  BlueWallet (similar to Electrum) is a mobile wallet that is open source and Bitcoin only. It is easy to set up and use, it even allows you to use the lightning network! Another example is Trust Wallet, one of the most popular mobile wallets, which is also easy to set up and use. Supports over 40 different cryptocurrencies.

Cold Cryptocurrency Wallets

Just like hot wallets, there are some different options to choose from cold wallets. And it is important to make sure that you set your cold wallet up correctly, or there will be a chance that it won’t be secure as you think as it would. Feel free to contact Easy Crypto if you need any guidance when setting up a cold wallet

Here are two kinds of cold cryptocurrency wallet,

• Hardware Wallets
  Hardware wallets are physical devices that hold your private keys on them, rather than keeping them on your computer or phone. The device is usually connected to your computer through a USB cable, and once this is unplugged your funds are stored entirely offline.
  
  When you set up your hardware wallet, you will be given a recovery seed. This will be used to restore your wallet if the hardware device is lost or damaged. It is important to make sure that you write this down and never enter it on your computer or phone, this includes taking no pictures of it. As soon as these words are on an internet-connected device your wallet is no longer offline and your funds are at risk of being stolen if your phone or computer is compromised. Always keep your recovery seeds offline!
  
  Trezor is one of the best cryptocurrency wallets in South Africa. It is an open-source hardware wallet that supports 100’s of cryptocurrencies. Another example is Ledger, a well-known brand that also supports 100’s of cryptocurrencies.

• Paper Wallets
  Paper wallets are an easy way of setting up a cold wallet. You simply generate your private key and your address, and then print it out along with QR codes to allow you to send cryptocurrencies to your address, and so that you can easily import the wallet into a mobile wallet when you’re ready to spend your crypto.
  
  Paper wallets are easy to set up. Although, we wouldn’t recommend you store larger amounts of money on them as they are much easier to lose or damage, and they need to be generated and printed in a specific way to ensure that they are truly keeping your funds safe.

How about that? Have you finally found the wallet that suits your preferences and needs? Or do you still find questions about cryptocurrency wallet?

Here, do not hesitate to contact Easy Crypto to find out more about the best cryptocurrency wallet. And let’s buy your first cryptocurrency in South Africa

The post Choosing the Best Cryptocurrency Wallet in South Africa appeared first on Easy Crypto.