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How to Buy Crypto with Capitec Bank

How to Buy Crypto with Capitec Bank

Adrian Graham
Fact Checked
Jan 8, 2023

Summary: The only way to buy Bitcoin with a Capitec Bank account is by depositing fiat to a regulated and licensed cryptocurrency exchange. With this method, you can transfer ZAR via bank transfer, debit card or credit card.

If you are looking to get started quickly, we recommend the OKX platform. They offer fast and cheap ZAR deposits via bank transfer from Capitec Bank to over 350 cryptocurrencies with low fees in South Africa.

Table of Contents

Best Crypto Exchange for Capitec Bank

Platform Highlights

  • Fast and cheap South African Rand (ZAR) deposits via Bank Transfer from Capitec Bank.
  • Trade & Stake over 300 Cryptos with low fees and tight spreads.
  • Feature-rich platform with Staking, an NFT Marketplace, OKX Chain, OTC Support & more.
OKX - Capitec Bank
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Can I buy Crypto or Bitcoin with Capitec Bank?

Capitec Bank does not yet offer any services for their clients to buy Bitcoin and other cryptocurrencies through their internet banking platform. 

With that said, Capitec Bank does have friendly policies toward cryptocurrencies. This means that customers can sign up to licensed digital asset trading platforms and deposit South African Rand (ZAR) directly from their Capitec Bank account.

How to buy Crypto with Capitec Bank online

The easiest way to buy cryptocurrencies with Capitec Bank from South Africa is through the Binance exchange. They offer easy and safe onboarding for residents of South Africa and cheap ZAR deposits. 

Follow the guide below to get started.

  1. Create an account on OKX and complete your verification.
  2. Select the 'Buy Crypto' tab in the navigation menu and click 'Third-party Payment'.
  3. Select ZAR and the token you want to buy, then choose 'Banxa' as your Service Provider.
  4. Input the amount you want to buy and finalise your bank transfer. The crypto will arrive in your OKX wallet in 2-10 minutes.
Buying USDT with ZAR via Capitec Bank on OKX.

Is Capitec Bank Crypto Friendly?

Yes, Capitec Bank is a crypto friendly financial institution in South Africa. They do not have any internal banking policies that prohibits their customers and clients from trading and holding digital assets. Further, there has been no mandate from the South African Central Bank to place any banking bans on cryptocurrency investors and traders.

About Capitec Bank

Capitec Bank is a South African retail bank. It was established in 2001 and offers its clients banking products and services through a network of over 850 branches nationwide. As South Africa's second-largest retail bank, Capitec Bank has over 12 million clients and employs more than 9 000 people. The bank is headquartered in Stellenbosch, Western Cape.

Capitec Bank

Capitec Bank offers a range of banking products and services, including savings accounts, credit cards, loans, and insurance. The bank also has a mobile app and an online platform that allow clients to manage their accounts and make transactions.

They were named the Best Retail Bank in South Africa for the sixth consecutive year in 2020. The bank has also been awarded the Reader's Digest Trusted Brand Platinum Award for the past three years. Capitec bank is committed to financial inclusion and offers banking products and services that are accessible to all South Africans. The bank has a low-cost banking model that makes it possible for clients to save money and access credit.

Capitec Bank is regulated by the South African Reserve Bank and is a responsible lender and promotes responsible borrowing. The bank has a National Credit Regulator-approved credit policy.

Final Thoughts

The only way to buy Bitcoin and other cryptocurrencies with a Capitec Bank account is by depositing South African Rand (ZAR) to a regulated and licensed crypto exchange. For this, we recommend the OKX platform as they offer fast onboarding for customers from South Africa and cheap ZAR deposits.

Adrian Graham

Co-Founder & former banker turned Full-Time DeFi analyst and researcher. Left traditional finance to pursue my interest in digital assets and decentralized finance.

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