The cryptocurrency market has exploded in 2021, with dozens of new crypto assets and coins joining the fray.<\/p>\n
The entire crypto market has taken major steps towards legitimacy this year; Major companies and the Central American nation of El Salvador are using crypto as legal tender.<\/p>\n
South Africa too has placed itself on the crypto map with Safcoin, Africa\u2019s first digital coin launched exclusively to SA buyers in 2018.<\/p>\n
It\u2019s been listed on HotBit, one of the world\u2019s major cryptocurrency trading platforms.<\/p>\n
Today, CMTrading CEO, Daniel Kibel, shares his thoughts on cryptocurrency.<\/p>\n
“This is big news. El Salvador is a small country, but these moves always need to start somewhere.”<\/p>\n
“So, the fact that one country is even starting with Bitcoin could trigger a snowball effect, as more and more people use crypto for payments.\u201d<\/p>\n
Trade Bitcoin in South Africa <\/strong><\/a><\/strong><\/p>\n \u201cThere\u2019s a lot of interest in South Africa but as with everything else, there’s a lot of get-rich-quick<\/em> schemes with crypto.”<\/p>\n “Unfortunately, people are losing a lot of money and they need to be careful and ensure they’re working with regulated entities.”<\/p>\n “There is no such thing as guaranteed profits.”<\/p>\n \u201cIt’s the same if you’re trading stocks or indices.”<\/p>\n “It just seems that crypto is the \u2018new kid on the block<\/em>\u2019, and people are making a lot of money out of it.”<\/p>\n “You need to be aware that it’s an investment like any other. At the moment crypto is huge in Africa, especially in South Africa.”<\/p>\n Best way to trade Bitcoin online<\/strong><\/a><\/strong><\/p>\n \u201cIt’s interesting as SA has always been a financial center specifically for Africa.”<\/p>\n “If you look around Africa, they are following South Africa’s trends and will look to the nation for regulation.”<\/p>\n “It has the strongest regulations in Africa.”<\/p>\n \u201cSafcoin\u2019s listing is a natural progression due to the popularity of crypto locally and gives more credibility to crypto within African.”<\/p>\n Want to take advantage of crypto?<\/strong><\/a><\/strong><\/p>\n \u201cChina, banning crypto will have, in my opinion, insignificant effect on the industry.”<\/p>\n “Remember, Google, Facebook and WhatsApp are blocked in China, but this hasn\u2019t affected their price.”<\/p>\n “China is a completely different world; it’s a world where everything is fully controlled and the things they can\u2019t, they shut down.”<\/p>\n “They can\u2019t regulate crypto and therefore they shut it down.”<\/p>\n “It won’t affect crypto because that’s just how the market is and if the world shifts towards a crypto-based economy, eventually China will join the party.\u201d<\/p>\n Start trading crypto today!<\/strong><\/a><\/strong><\/p>\n Discover more opportunities with an award-winning broker.<\/p>\n Join CMTrading<\/strong><\/a>, the largest and best-performing broker in Africa.<\/p>\n Follow CMTrading on Facebook<\/strong><\/a><\/strong>, Instagram<\/strong><\/a><\/strong>, Twitter<\/strong><\/a><\/strong>, LinkedIn<\/strong><\/a><\/strong>, and YouTube<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The cryptocurrency market has exploded in 2021, with dozens of new crypto assets and coins joining the fray.<\/p>\n","protected":false},"author":57,"featured_media":527454,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10459],"tags":[15959],"class_list":["post-527434","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-news","tag-cmtrading"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/527434","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=527434"}],"version-history":[{"count":10,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/527434\/revisions"}],"predecessor-version":[{"id":527508,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/527434\/revisions\/527508"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/527454"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=527434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=527434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=527434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Q: How popular is crypto trading in South Africa? <\/strong><\/h3>\n
Q: <\/strong>Safcoin<\/strong> made crypto history \u2013 what does this mean for the market? <\/strong><\/h3>\n
Q: Will China\u2019s ban affect crypto? <\/strong><\/h3>\n