The Most Used Cryptocurrencies in South Africa

South Africa is one of the leading nations for cryptocurrency ownership in the world and continues to remain a major adopter of crypto and blockchain technology for everyday use. Figures shown in a 2019 report from ‘We Are Social’s – Global Digital Yearbook’ show that 10.7% of internet users in South Africa own a form of cryptocurrency of some kind. This is a leading amount compared to the remaining worldwide average of 5.5% of internet users.

This pace of adoption shows just how popular cryptocurrency continues to be in South Africa. Let’s look at some of the most popular options for cryptocurrencies available in South Africa for 2019:

Bitcoin

Bitcoin remains the most traded and popular cryptocurrency worldwide, it also remains the highest valued crypto coin on the market. In South Africa, it remains the most owned cryptocurrency coin with some traders buying it for either investment or personal purposes. It reached its 10th-anniversary last year and there is still much speculation about whether the price will continue to rise past its peak price of $20,000 in December 2017 after a particularly volatile year in 2018.

Yet the fact that Bitcoin is considered to be the best cryptocurrency trading option. The fact that it’s also possible for South African traders to also directly buy Bitcoin in ZAR instead of USD continues to make it a popular cryptocurrency choice in South Africa.

Ethereum

In terms of market capitalisation, Ethereum’s Ether coin remains the 2nd most popular cryptocurrency globally. Although Bitcoin is the most valuable coin currently and is the best coin to store value on compared to Ethereum. Ether is generally a better coin for transactions. This is because Ethereum has faster transactions than Bitcoin as well as lower transaction fees which makes it more attractive for exchanges.

For South African traders Ethereum is a cryptocurrency to watch, especially as its blockchain technology has attracted a lot of investment from over 150 major companies such as MasterCard and Deloitte who are interested in using the blockchain technology. This investment and adoption is likely to affect the Ethereum value. Again it is also possible for South African traders to purchase Ether directly with ZAR.

Litecoin

Litecoin was launched back in 2011, with its founder aiming to create a ‘lighter form’ of Bitcoin. This means that Litecoin can complete a transaction in roughly 2.5 minutes, which is much faster than Bitcoin’s 10 minutes. This makes it a good choice for traders looking to complete fast transactions. Globally it’s the 6th most traded cryptocurrency in terms of market capitalisation.

For South African traders it remains potentially a good investment coin due to the fact that it has a fairly low market cap. Coins with a fairly low market cap are considered good for investment as they have a reasonably high potential for coin value growth in the market.

EOS

EOS is becoming one of the most popular cryptocurrencies to invest in as it has become well known for its super quick transaction speeds and its leading blockchain technology. In order to access the EOS blockchain, a trader must own EOS coins. One of the main objectives of EOS is to remove all user fees for transactions and merchants, which makes it appealing to traders looking to save on transaction costs.

For South African traders EOS is a tempting cryptocurrency to invest in because it shows promising price growth for 2019, especially as it was announced that there will be a big news announcement regarding EOS given this June which is likely to cause market prices to rise.

About the author

Luke Robinson is an author and editor who has written for various publications on matters of cryptocurrency and trading. His passion is to continue to share his insights and market trading news as much as possible.

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Broke Venezuelans turn to crypto bartering

arkets have remained range-bound this week, primarily in anticipation of a big move by Bitcoin. At the time of writing the big pullback that many in the sector have been expecting has failed to materialize leaving most crypto assets in consolidation. Only Litecoin is making any progress. It surged over 30% in a week, as August’s “block halving” event approaches.

Google threw a virtual massive spanner in the works for independent crypto news outlets this week when its algorithm update resulted in traffic and ad revenue drying up for many of them. Whether intentional or not, the web monopoly has once again served up a digital nightmare for blockchain focussed publications. The incident highlights how reliant the planet still is on this one outlet, which currently has the dominant influence to decide what can, and cannot, be readily accessed online.

Facebook is reportedly recruiting backers for its crypto coin project, Libra,and has secured some of the biggest names from the digital payments world. According to the WSJ, a consortium of 12 companies has pledged $10 million each to be part of governance for the coin. Backers include Visa, Mastercard, PayPal, Uber, Booking.com and Stripe. The official announcement for the new social-media-based digital currency is expected next week. The stablecoin will be pegged to a basket of government-issued currencies to avoid the volatility of crypto assets. Unlike current cryptocurrencies such as Bitcoin, it will not be decentralized but rather controlled by the corporate heavyweights and Facebook owner Mark Zuckerberg himself. This has led many to question its integrity considering Facebook’s recent form with data security, censorship and privacy violations.

New Malware Campaign Spreads Trojans Through Clone Crypto Trading Website

Twitter user and malware researcher Fumik0_ has discovered a new website that spreads cryptocurrency malware, according to a report by Bleeping Computer on June 5.

According to the report, the host for transmitting these viruses is a website that imitates the website for Cryptohopper, a website where users can program tools to perform automatic cryptocurrency trading.

When the scam site is visited, it reportedly automatically downloads a setup.exe installer, which will infect the computer once it runs. The setup panel will also display the logo of Cryptohopper in another attempt to trick the user.

Running the installer is said to install the Vidar information-stealing Trojan, which further installs two Qulab trojans for miningand clipboard hijacking. The clipper and miners are then deployed once every minute in order to continuously collect data.

The Vidar information-stealing trojan itself will attempt to scrape user data such as browser cookies, browser history, browser payment information, saved login credentials, and cryptocurrency wallets. The information is periodically compiled and sent to a remote server, after which the compilation is deleted.

The Qulab clipboard hijacker will attempt to substitute its own addresses in the clipboard when it recognizes that a user has copied a string that looks like a wallet address. This allows cryptocurrency transactions initiated by the user to get redirected to the attacker’s address instead.

This hijacker has address substitutions available for ether (ETH), bitcoin (BTC), bitcoin cash (BCH), dogecoin (DOGE), dash (DASH), litecoin (LTC), zcash (ZEC), bitcoin gold (BTG), xrp, and qtum.

One wallet reportedly associated with the clipper has received 33 BTC, or $258,335 at press time, via the substitution address ‘1FFRitFm5rP5oY5aeTeDikpQiWRz278L45,’ although this may not all have come from the Cryptohopper scam.

As previously reported by Cointelegraph, a YouTube-based crypto scam campaign was discovered in May, luring in victims with the promise of a free BTC generator. After users ran the alleged BTC generator, which was automatically downloaded by visiting the associated website, they would be infected with a Qulab trojan. Then, the Qulab trojan would attempt to steal user information and run a clipboard hijacker for crypto addresses

What is Dogecoin?

Dogecoin is a digital currency that is not controlled by anyone even the government.

These coins can be exchanged into bitcoins at this price. This digital coin has a cute Shiba dog character because it is often worn by the memes as the material cyou laugh them.

According to Wikipedia, Dogecoin is a virtual currency created in 2013 and is a derivative of Litecoin.

Beginner Fatal Error
Maybe now you’re still collecting Bitcoin from some faucet sites now I ask how many results from the website of the dime in 1 month?

The point is that if you currently still collect bitcoins from the faucet it is no longer working.

Very different from the last year when the Bitcoin faucet that gave 0.01 BTC once clicked the Roll button, but indeed the value of BTC time was still cheap $5/BTC.

How to become rich only Dogecoin?
I already research about digital money that has the potential, like Bitcoin and it turns out that Doge has that opportunity.

Now, we are easy to collect as many Dogecoin, just imagine how much money do you get if 1 Dogecoin is worth $1? According to Cryptocurrency experts, that Doge will rise the leaves in time.

Okay, before it’s too late again like Bitcoin, let’s collect your Doge right now. So, you can be rich in Doge from the Internet.

Collect your coins now and save them well in your DOGE wallet and wait some time ahead.

And look at what happened with Dogecoin in the future because past data can not predict which will happen future.

Must be adjusted to your budget and do not force yourself to buy it.