South Africa & How To Buy Bitcoin

Buy Bitcoin from a South African Crypto Exchange. After you’ve registered you need to get South African Rand onto the exchange. You have to do an Electronic Funds Transfer from your own account. Once your funds show up at the exchange you can then buy any coin from those listed on the exchange.

To make a profit sell your crypto back into rand when the price is higher.

If you want to enable a crypto trading bot to automatically buy and sell, you will need to sign up with another exchange which is listed to supports that feature.

Bitsgap is an example of a simple grid trading bot. Once you have registered with a compatible exchange, you will need to connect Bitsgap to that exchange so they can talk to each other. While setting up Bitsgap to communicate with your crypto exchange, you will have to make sure to restrict access so the bot can only create buy and sell orders and not have any other means of access to your funds.

Not considering any fees or taxes that may be applicable to your profit taking, you should realize a profit if you only sell when the price is higher. As long as you don’t sell the coin when the price is lower, or you don’t stop your bot when the price moves below the price range of your bot, and you can wait – you could be rewarded with a profitable return.

Click here to learn more about BitsGap and to see the whole list of Bitsgap compatible exchanges.

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