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How to buy Bitcoin with Capitec Bank to Luno (2021)

Summary: You can connect your Capitec Bank account to Luno and start depositing South African Rand (ZAR) in minutes. Deposits from Capitec Bank to Luno can take up to one-two business days.

Tanya Chen

Editor at Buy Bitcoin Finder

Buying Crypto with Capitec Bank

Unfortunately for Capitec Bank account holders, there is no way to purchase crypto natively through the Capitec Bank app, or through any of their other services.

However, Capitec Bank account holders in South Africa can register with a cryptocurrency exchange and connect their bank account for fast ZAR deposits and withdrawals to get started investing or trading.

Buy Bitcoin Finder recommends Luno as the best exchange in South Africa to connect a Capitec Account.

How to Deposit Money from Capitec to Luno

The guide below is a quick summary on how to deposit money from your Capitec Bank account into the Luno cryptocurrency exchange.

  1. Sign up to Luno and verify your identity.
  2. Select 'Wallets' in the top menu on your Luno dashboard
  3. Select your 'South African Rand' wallet (or alternative fiat currency) 
  4. Click the Deposit Funds button on your screen
  5. Follow the prompts to transfer funds from Capitec to Luno

Luno vs Binance in South Africa

Although Luno is the more popular exchange for resident of South Africa, Binance offer lower fees and faster ZAR deposits to start trading. The fees to trade on Luno are 0.2% per transaction, where Binance offers 0.1% per trade.