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How to Buy Crypto with Capitec Bank in South Africa

Last updated on November 12, 2023

Quick Summary: While Capitec Bank does not offer cryptocurrency trading through its own platform, you can make use of your account to purchase crypto through a third-party exchange.

There are a lot of South Africa cryptocurrency exchanges to pick from, but we suggest using the eToro exchange.

They offer the majority of most well-known cryptocurrencies and are simple to use. They have lots of advanced features but are also great for beginners.


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Capitec Bank Homepage

As mentioned in my quick summary, like most South Africa banks, Capitec Bank doesn’t allow users to trade cryptocurrency directly on their platform, due to the complexities with setting up a crypto exchange and comes with regulations and extra work for the banks.

Thankfully there are many crypto exchanges to pick from that allow you to buy Bitcoin and other cryptocurrencies.

Once you’ve signed up to a crypto exchange (in our example I’ll be using eToro as it’s a highly trusted and global exchange), you can easily move money from your bank account to the trading platform., and exchange it for a variety of cryptocurrencies.

How to buy crypto or bitcoin with Capitec

Let’s get started! Just follow our 4 quick steps.

1. Pick a crypto trading platform

As mentioned above, I’ll be using eToro for this guide as they are a widely used exchange and have a huge range of cryptocurrencies to choose from. It’s also one of the best exchanges for beginners and allows more advanced features when you get more comfortable with trading.

The steps in this guide should be similar for most trusted crypto exchanges, so feel free to use whichever you end up going with.

Let’s get started!

2. Create account with the trading platform

You’ll first need to create an account if you haven’t already, you can do using this quick link below.

Sign Up With eToro

Once you’ve filled out the basic information you’ll be asked for KYC (Know Your Customer) information, this is normal for crypto exchanges to stop any bad activity. This will often be called the “verification” process.

3. Fund your account

Next, you’ll need to add funds to your account using any of their deposit methods. For eToro there are many options such as bank transfer, PayPal, credit/debit card, and many more.

4. Buy crypto

Lastly, you’ll need to go to the “trade” section, this will differ for each exchange but it will usually have some variation of this.

It’s that easy! You’ve now got the tools to buy your first cryptocurrency with Capitec Bank.

Buy Crypto With eToro

About Capitec Bank

Capitec Bank is a South African retail bank. In August 2017, the bank was the second-largest retailer bank within South Africa, based on the number of clients and 120,000 new customers opening new accounts each month.

The bank has 885 retail branches throughout the United States as well as 3418 owned or partnership ATMs, and more than 6.2 million clients, as per the CFO’s report. Of those customers 309 000 are online banking customers , and 3.5 millions are mobile customers of banking.

Based on the results of the annual report for the financial year 2015 the assets at Capitec Bank was in excess of R53.9 billion, including R11.6 billion in equity and retail savings deposits growing by 32 percent during this year, reaching R19.3 billion, and fixed retail savings rising up 19 percent, to R10.7 billion over the course of the year. The headline earnings and earnings for the financial year were R2.547 billion, compared to R2.017 billion for 2014, while net transaction fee earnings were R2.6 billion.

The bank gives its customers their customers the Global One account, which is a savings account, as well as a transaction account. It also has a credit facility all in one.

In terms of customer satisfaction as measured by findings of the South African Customer Satisfaction Index (SAcsi) in 2015, Capitec Bank comes first with 82.2 points. Capitec Bank has emerged as the most reliable banks in the world according to International bank advisory firm Lafferty in its first Bank Quality Rankings.

In February 2017 “the majority, more than 5.5 million, of Capitec clients pay[ed] less than R50 per month in bank costs.”