Selling Bitcoin on Coinbase in South Africa

[johnt22]

A friend of mine decided to open a Coinbase account as their first step starting out in Crypto. I sent them a test transaction of some crypto and was walking him through how to Buy, Sell, and Convert. He said the Sell feature is not an option. It says sell is not supported in his country, South Africa. Any idea how he can sell crypto if he wanted to?

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[GbitG]

A friend of mine decided to open a Coinbase account as their first step starting out in Crypto. I sent them a test transaction of some crypto and was walking him through how to Buy, Sell, and Convert. He said the Sell feature is not an option. It says sell is not supported in his country, South Africa. Any idea how he can sell crypto if he wanted to?

I just check on site they are supporting into South Africa for more details you can ask support because they are giving replies very quickly here is link for supported countries  https://www.coinbase.com/places/

[johnt22]

That's where its a little shady. They say they support South Africa but once you sign up and get some crypto and tells you that you can sell because selling is not supported.

[GbitG]

That's where its a little shady. They say they support South Africa but once you sign up and get some crypto and tells you that you can sell because selling is not supported.

Mate there is nothing shady please read carefully they are clearly saying you can buy or convert, so selling is not allowed in South Africa all details available on this page that in which country it's allowed and where it's not allowed.

[Oshosondy]

That's where its a little shady. They say they support South Africa but once you sign up and get some crypto and tells you that you can sell because selling is not supported.

Possibly you and your friend are not getting something right by there are more options.

You can check this site and make research of the ones that are good and not shady, you can use https://trustpilot.com for review.

https://www.buybitcoinworldwide.com/south-africa/

[johnt22]

Thanks. So best option at this point is to open on another exchange and move coins to that exchange to sell?

[Trojane]

South Africans don't support coinbase transactions?
I don't think so bud.
You never said you wanted to sell any coins ...
If trading of crypto isn't supported by your country on coinbase then why don't you try selling these coins you mentioned through another exchange app with a different location? (Using vpn to maybe switch your location, sell the coins and get your payments)

[Jawhead999]

I don't know what does can't sell you mean, it's coinbase exchanges right, not the wallet?

If your friend can withdraw the coins, better to do that... there're many good exchanges e.g FTX.

If trading of crypto isn't supported by your country on coinbase then why don't you try selling these coins you mentioned through another exchange app with a different location? (Using vpn to maybe switch your location, sell the coins and get your payments)

AFAIK Bitcoin is legal in South Africa, so it's not the problem of the country. However your suggestion is bad, you're do illegal stuff on your country and you hide it with VPN? VPN has a bad privacy concern.

[jrrsparkles]

South Africans don't support coinbase transactions?
I don't think so bud.
You never said you wanted to sell any coins ...
If trading of crypto isn't supported by your country on coinbase then why don't you try selling these coins you mentioned through another exchange app with a different location? (Using vpn to maybe switch your location, sell the coins and get your payments)

https://www.coinbase.com/places here you can find coinbase support where and what, as far as I have seen the buy and sell options are available in only selected countries and its surprising to know that they support buy option in few countries but you can't sell them back like in Costa Rica for example so it doesn't mean that they don't support transactions, you can able to make deposits and withdrawals the only thing you can't do is buying and selling for fiat.

Using VPN doesn't do anything buddy, to trade your cryptocurrencies on coinbase you have to complete KYC and then only you can make purchases or selling even though if its supported in your country.

But the choices for trading bitcoin is unlimited even jf your country banned bitcoin and shutdown all the exchanges still you can trade it via p2p exchanges or other marketplaces.

[Oshosondy]

If trading of crypto isn't supported by your country on coinbase then why don't you try selling these coins you mentioned through another exchange app with a different location? (Using vpn to maybe switch your location, sell the coins and get your payments)

AFAIK Bitcoin is legal in South Africa, so it's not the problem of the country. However your suggestion is bad, you're do illegal stuff on your country and you hide it with VPN? VPN has a bad privacy concern.

I will follow what you said, before making use of an exchange, it is good to read the terms and conditions, many of the centralised exchanges do not support vpn or tor. I have even used some exchanges that always block VPN and tor connection while many others will have to block the person's account to ask for verification or more verification before allowing the person to continue to trade.

[noorman0]

-snip-
Any idea how he can sell crypto if he wanted to?

Just had a quick surf. Your friend has several methods of buying and selling bitcoin in South Africa, one of which is using bitcoin ATMs located at several points in big cities. There are currently 14 ATMs in that country (reference), I hope that's the latest data. Also note that not all bitcoin ATMs issue cash (exchange your bitcoins for cash).

Other methods are buying and selling bitcoins on p2p exchanges such as bisq, localcryptos, localbitcoins or the country's most recommended centralized exchange (KYC required), eg Luno.

[Oshosondy]

Your friend has several methods of buying and selling bitcoin in South Africa, one of which is using bitcoin ATMs located at several points in big cities.

It will be good for people to know that 10% of amount converted will be deducted as fee, it can even be more.

Other methods are buying and selling bitcoins on p2p exchanges such as bisq, localcryptos, localbitcoins or the country's most recommended centralized exchange (KYC required), eg Luno.

Localbitcoins is also kyc required, it is centralized but p2p unlike localcryptos and bisq that are decentralized and p2p.

[GeorgeJohn]

A friend of mine decided to open a Coinbase account as their first step starting out in Crypto. I sent them a test transaction of some crypto and was walking him through how to Buy, Sell, and Convert. He said the Sell feature is not an option. It says sell is not supported in his country, South Africa. Any idea how he can sell crypto if he wanted to?

I think south African is making use of remitano exchange for selling of any kind of cryptocurrency listed in the exchange called ramitano, if actually is not operating there as well, you can equally use Google to ask for the possible platform you exchange a coin with south African currency, i hope Google will provide solution, and also try to access link provided here, because i notice that someone has dropped a link already, check if it will work out.

[johnt22]

https://www.coinbase.com/places here you can find coinbase support where and what, as far as I have seen the buy and sell options are available in only selected countries and its surprising to know that they support buy option in few countries but you can't sell them back like in Costa Rica for example so it doesn't mean that they don't support transactions, you can able to make deposits and withdrawals the only thing you can't do is buying and selling for fiat.

Using VPN doesn't do anything buddy, to trade your cryptocurrencies on coinbase you have to complete KYC and then only you can make purchases or selling even though if its supported in your country.

But the choices for trading bitcoin is unlimited even jf your country banned bitcoin and shutdown all the exchanges still you can trade it via p2p exchanges or other marketplaces.
[/quote]

Thank you. That's my point exactly what some of the others that are replying were missing. He signed up for the Coinbase exchange, and was able to receive crypto. The BUY and CONVERT options are available but when he clicks SELL, Coinbase says it does not support selling crypto in his country at this time but to keep checking the blog. So now trying to find a place he can transfer the crypto from Coinbase to another platform so he can cash it out.

[DdmrDdmr]

It’s pretty eye opening to see the list of countries where Coinbase does not process buy/sell operations, or delimits it to buy (without sale). They state that this is due to the partnerships they manage to make per country with regards to banks and payment processors. Countries where cards are the only payment option are allowed to make buy operations but not sell operations (i.e. South Africa).

What one takes for granted in certain countries, is quite a chimera in other latitudes …

[jrrsparkles]

Thank you. That's my point exactly what some of the others that are replying were missing. He signed up for the Coinbase exchange, and was able to receive crypto. The BUY and CONVERT options are available but when he clicks SELL, Coinbase says it does not support selling crypto in his country at this time but to keep checking the blog. So now trying to find a place he can transfer the crypto from Coinbase to another platform so he can cash it out.

Make sure you quote the comments properly to avoid getting reported for plagiarism.

Localbitcoins: https://localbitcoins.com/instant-bitcoins/?action=sell&amount=&currency=ZAR&country_code=ZA&online_provider=ALL_ONLINE&find-offers=Search

Locacryptos: https://localcryptos.com/Ethereum/South_Africa/Sell

I posted the links above where you can sell BTC to ZAR directly on both LBC and localcryptos, but the fact is you need to complete KYC to trade on LBC and which is not required in Localcryptos still you have only one active trader from Localcryptos to trade with and price is 15% below the market place so better trade on LBC or any other centralized exchanges if you don't want to lose value for BTC while converting fiat and a bonus note recently LBC removed their deposit fee so you can make deposit for free and trade for better prices since more active traders are there from South Africa.

[Kakmakr]

Why use Coinbase if Luno.com are the preferred site in South Africa to Buy/Sell Bitcoin and Ethereum?  A lot of my South African friends are using Luno.com and they are VERY satisfied with their service. A lot of the African countries are also using Luno.com ...so they have a nice trading volume and it is quick and easy.  

I will stay away from Coinbase if I am not a USA citizen, because you will probably never get your money out of it.. after you bought some coins. They have VERY strict KYC/AML requirements.. so not even a VPN access to their service is recommended.