Guide to buying altcoins on international exchanges

Just a quick reminder: Can I transfer ANY altcoins I have from Altcointrader to my Binance account pretty much hassle-free?
 
etienne_marais said:
So just to be clear, it is still not viable to buy $ on Binance using credit card ?
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Hi, I also wanted to know this? Why go to Luno first to buy the Crypto, and then go to Binance. Is it because of SARB rulings? Ie. why not buy directly from Binance?
 
Scificook06 said:
Hi, I also wanted to know this? Why go to Luno first to buy the Crypto, and then go to Binance. Is it because of SARB rulings? Ie. why not buy directly from Binance?
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Actually, I just tried it on Binance>> Pay with Card. "Issuing bank is not compatible. This card bin is not currently supported" - this was ABSA.
 
Scificook06 said:
Hi, I also wanted to know this? Why go to Luno first to buy the Crypto, and then go to Binance. Is it because of SARB rulings? Ie. why not buy directly from Binance?
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you can buy directly on binance using swift costing between R200 to R1.2k per bank so do it for amounts over 50k

this is legally allowed
 
I just checked on Binance, they no longer support USD SWIFT Deposits. So ...

1. We can't transfer from local exchange to Binance.
2. We can't do card payments using local bank cards.
3. We can't do USD SWIFT deposits.

What options do we have left?

Anybody tried to do an online card purchase using FNB Global Account?
 
PandaB said:
I just checked on Binance, they no longer support USD SWIFT Deposits. So ...

1. We can't transfer from local exchange to Binance.
2. We can't do card payments using local bank cards.
3. We can't do USD SWIFT deposits.

What options do we have left?

Anybody tried to do an online card purchase using FNB Global Account?
Click to expand...

I know people have used Shyft from Standard Bank and created a virtual card which worked on binance, haven't tried it yet as used luna and transferred xrp to binance but this was back in March.
 
How about VALR for altcoins, since SARB gave me a fright about buying crypto on Binance using a credit card, I moved my altcoins to VALR, but VALR does not have deposit option for their altcoins, I converted my coin to rand value and then bought them on VALR.
 
haroldj said:
How about VALR for altcoins, since SARB gave me a fright about buying crypto on Binance using a credit card, I moved my altcoins to VALR, but VALR does not have deposit option for their altcoins, I converted my coin to rand value and then bought them on VALR.
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Then you technically have the same issue. SA based crypto...

Cant you send money via Shyft to Binance?
Otherwise the only alternative might be to have a non-SA bank account and fund that first?
 
hj007 said:
Then you technically have the same issue. SA based crypto...

Cant you send money via Shyft to Binance?
Otherwise the only alternative might be to have a non-SA bank account and fund that first?
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You are allowed to buy in foreign exchanges using a transfer so shft is allowed
 
Thanks for the feedback and suggestions. Much appreciated.

I bank with FNB, so sticking with them would be first prize. I see no reason why the Global Account shouldn't work. I'm going to give them a ring and hear. My concern is that they'll just hear "crypto" and they'll just say no, no, NO...
 
PandaB said:
Thanks for the feedback and suggestions. Much appreciated.

I bank with FNB, so sticking with them would be first prize. I see no reason why the Global Account shouldn't work. I'm going to give them a ring and hear. My concern is that they'll just hear "crypto" and they'll just say no, no, NO...
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Be careful fnb shuts accounts for crypto. Fnb global will work not the card the acc I have used it personally. It will incur a swift fee tho
 
Binance has P2P, have not tried it yet.
I buy bnb off altcoin trader and send it to Binance fees are not so bad.
Luno does not support the bsc chain so fees transferring from luno to binance are mad expensive.
Unfortunately, VALR doesn't have bnb so I have not tried transferring from it to binance yet.

The SARB does not currently oversee, supervise or regulate crypto assets, which were previously referred to as virtual currencies, but is continuing to monitor this evolving area. The SARB’s position on crypto assets remains as set out in the 2014 Position Paper on Virtual Currencies and is summarised below:

Check the FAQ and then crypto assets.

Frequently Asked Questions

www.resbank.co.za www.resbank.co.za


"Individuals may purchase crypto assets from abroad using their single discretionary allowance of up to R1 million and/or their individual foreign capital allowance of up to R10 million with a tax clearance certificate per calendar year, as outlined in the abovementioned manuals. A local Authorised Dealer will be able to assist individuals with these allowances."

My opinion is banks are wanting to regulate it, and transferring from exchange to exchange is fine. Just when you pull out in rands make sure you go through the correct tax procedure. Crypto can be claimed as CGT so stake it and wait.
 
PandaB said:
I just checked on Binance, they no longer support USD SWIFT Deposits. So ...

1. We can't transfer from local exchange to Binance.
2. We can't do card payments using local bank cards.
3. We can't do USD SWIFT deposits.

What options do we have left?

Anybody tried to do an online card purchase using FNB Global Account?
Click to expand...
I sold some small coins (look, I don't have much invested at the moment) and converted to USDT before sending to Binance from ACT. Worked well.
 
Swift might not actually be a bad way of transacting with international exchanges. Going to test it out next month and compare against what it cost me to go through a local exchange (and be a bad boy and send it out)

This month, bought xrp locally, sent to exchange, swapped for bitcoin and then again for the token I wanted. At the end, I was left with R1770 worth of tokens from an initial deposit of R2000.

On another note: Anyone know if ACT allows you to withdraw BNB via BSC or is it only BEP2?
 
acidrain said:
Swift might not actually be a bad way of transacting with international exchanges. Going to test it out next month and compare against what it cost me to go through a local exchange (and be a bad boy and send it out)

This month, bought xrp locally, sent to exchange, swapped for bitcoin and then again for the token I wanted. At the end, I was left with R1770 worth of tokens from an initial deposit of R2000.

On another note: Anyone know if ACT allows you to withdraw BNB via BSC or is it only BEP2?
Click to expand...
Swift is only viable when doing R50k plus under that I wouldnt bother. Some banks it ranges from R200-R1.2k

Would recommend Kraken if you plan going the swift route, using euro typically clears same day
 
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I sent some xrp to Binance and converted to usdc to buy shiba Inu, I don't think it is illegal as long as you don't use a bank card to make deposits to Binance.
 
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