fbpx

Easy Equities Crypto Platform Review 

Easy Equities is an South African investing platform that enables South Africans to participate in investing with property, crypto, shares and bonds. Easy Crypto is their latest and greatest new platform where you can fractionally invest in crypto or get involved with their EC10 token, as well as many of the most popular cryptocurrencies. 

Investing in Cryptocurrency markets might be complicated for the typical investor. This is also true for the majority of South Africans. For some, investing in the crypto market may seem risky, while for others it is the ideal way to diversify. In essence, the crypto market is a place where financially savvy investors purchase and sell digital assets. Easy Equities Crypto makes this process easy and safe, run by a registered and regulated platform based in South Africa. 

How To Get Started On Easy Equities Crypto

Many will be surprised to see you need to create a Easy Crypto Account and cannot use your regular Easy Equities account. Here is how to get started  

  • Visit their Easy Crypto site  
  • Click the “Register” button.  
  • Follow the on-screen instructions and your Easy Crypto account will be activated within a few minutes.  
  • Fund Your Account 

You are now prepared to acquire cryptocurrencies. After logging into your Easy Crypto account, a popup opens on the screen offering you to buy Bitcoin (BTC) using rands. As a beginner, you may want to stick with Bitcoin (BTC) and Ethereum (ETH) or alternatively the EC10 which will have both included. 

Cryptocurrencies, ETFs & Investing on Easy Equities 

The creators of DCX stated that the DCX10 Index and DCX10 chart of Top 10 Cryptocurrencies would be relaunched as the EC10 (” Easy Crypto 10″) and that they will continue their efforts to make the EC10 the first registered and regulated Crypto Asset Index in South Africa. 

Here are some of the cryptocurrencies you can buy on Easy Crypto: 

  • Bitcoin 
  • Ethereum 
  • Cardano 
  • Binance 
  • Ripple 
  • Dogecoin 
  • Polkadot 
  • Solana 
  • Uniswap 
  • Terra Luna 
  • Avalanche 

Whether you are one of the hundreds of INVSTRs who have already added some EasyCrypto to your portfolio or just crypto-curious, you will want to learn more about the EC10 Crypto Asset Bundle, but more on that later. 

What Is EC10? 

The EC10 Crypto Asset Bundle is maintained by DCX Capital and comprises BTC, ETH, and XRP. FWT Nominees keep customers’ EC10 Crypto Assets in a highly secure institutional-grade custody system. Instead of making individual purchase orders for each Crypto Asset separately, the EC10 enables you to submit a single buy Order, and you will be issued with the Crypto Assets featured in the EC10 Index in line with the Rand value of your Order. 

If your investment in the EC10 index price with Crypto Asset Bundles surpasses R1 million, you may acquire direct ownership of the underlying Crypto Assets inside the bundle. The price of the EC10 Crypto Asset Bundle is determined by the value of the underlying Crypto Assets. You may invest in the EC10 Crypto Asset Bundle the same way you invest in other products on Easy Equities. With any amount, you have 15-minute delayed pricing, this is one of the most attractive factors of the EC10. 

How EC10 Works 

You give them your money, they invest it in cryptocurrency, and you can withdraw it whenever and wherever you want. Investing in EC10 is mostly an investment in the future of crypto currency. It must be based on the premise that crypto money will one day gain widespread usage and consequently rise in value. You should recognize that cryptocurrency is very volatile at this moment; your investment might skyrocket or plummet when Elon Musk tweets. At some point, though, markets will cease responding to Elon or any other individual and become educated.  

In essence, they turn your funds into cryptocurrencies that they manage, then rebalance the fund weekly to account for any profits or losses. Some countries throughout the globe may prohibit cryptocurrencies, but they will ultimately accept them. Cryptocurrency is a positive idea that may meet some opposition, but if individuals and governments have a thorough knowledge of how it works, its value might climb dramatically. 

You can see the asset breakdown of the fun here

Fees on Easy Equities Crypto 

If you had R200 to invest in the EC10 Bundle and each EC10 token price was a cost of R20, you would obtain 10 EC10 Bundles but that is all dependant on EC10 performance. If you had R2400 to invest in the EC10 Bundle and the EC10 pricing was R25.50, you would acquire 94.1960 EC10 Bundles. 

The costs associated with the value of your transaction are as follows: 

  • The Easy Equities standard 0.25 percent commission 
  • Settlement & administrative procedures 
  • VAT 
  • IPL 
  • NO securities transfer tax 

This amounts to around 38 cents on a R100 investment.  

DCX Capital charges a 2 percent annual management, administration, and custody fee for the EC10 Bundle. This cost is already included in the purchase of EC10, and holders are not charged individually for it. This is not included in the cost breakdown since it is included in the daily price of the EC10 Bundle. 

Do I Own The Currency In My EC10? 

Yes. When you purchase an EC10 Crypto Asset Bundle, you will get the specified Crypto Assets according to the Rand worth of your investment. Your Crypto Assets are maintained securely in an institutional-grade custody solution in the name of FWT Nominees on your behalf. However, you will not be able to trade them separately on the Easy Equities website.  

If you hold more than R1,000,000.00 (one million Rand) worth of EC10, you may request a withdrawal of the individual Crypto Assets to your own wallets. Otherwise, you cannot transfer the Crypto Assets included in your EC10 Crypto Asset Bundle, and you must convert them back into Rands in order to withdraw cash. 

DCX Capital calculates the price of the EC10 Crypto Asset Bundle by weighting the prices of the underlying Crypto Assets by their market capitalization. There is no minimum investment amount for the EC10 Crypto Asset Bundle, so you may start small and gradually increase your investment over time. 

3 Ways South Africa Is Regulating & Keeping Investors Safe 

In its 2022 Budget Speech, the South African government explained that it takes cryptocurrency extremely seriously. The government has adopted the interventions presented by the Intergovernmental Fintech Working Group (“IFWG”), which require the following: 

  • Including crypto asset service providers as responsible entities under the Financial Intelligence Centre Act (2001). This modification will address concerns about money laundering and funding of terrorism using crypto-assets and align the act with FATF criteria for virtual assets and associated service providers. The proposed revisions to the statute were submitted for public comment in June 2020 and are anticipated to be finalized in 2022. 
  • Protecting consumers by examining the classification of crypto assets as financial products under the Financial Advisory and Intermediary Services Act (2002). According to this announcement, anybody offering advisory or intermediary services linked to crypto-assets must be recognised as a financial services provider under the said act and must comply with the act’s obligations. This includes crypto-asset exchanges and platforms, as well as consultants and brokers. This project is anticipated to be completed in 2022. 
  • Compliance with the Exchange Control Regulations of 1961 by enhancing the monitoring and reporting of crypto-asset transactions. The process of incorporating crypto assets into rules is now ongoing and also should be finalised sometime in 2022. 

The first and second interventions illustrate the need for a regulatory agency to oversee cryptocurrencies and cryptocurrency trading in South Africa. This will be a fantastic step as you as a potential investor will want all the possible protection in your endeavors.

History Of Easy Equities 

Easy Equities is a Johannesburg Stock Exchange-listed Purple Group Limited subsidiary with headquarters in Braamfontein, Johannesburg. In an attempt to establish a low-cost, user-friendly investing platform for all South Africans, the firm was founded in 2014. As of 2020, Easy Equities employs 200 individuals. Employees work in a range of fields inside the firm, including consulting, web engineering, programming, marketing, and advertising, among others. 

Easy Equities is a legally recognized firm in South Africa, having an FSCA (Financial Sector Conduct Authority) trading license number of 225. First World Trader (Pty) Ltd is FSCA-registered, enabling EasyEquities to operate as a financial services provider. In addition to Purple Group Limited, another major stakeholder is Sanlam, who purchased a 30% stake in EasyEquities for R100 million in 2017. Sanlam intends to invest an additional R25 million in EasyEquities in 2019 to cover operational expenses. 

With any of the accounts provided by Easy Equities, you may trade both domestic and foreign ETFs. Investing as little as R0.01 is available in Vanguard, Black Rock, Global X, and FirstRand ETFs. Exchange-Traded Notes are accessible for trading on Easy Equities, with 32 ETNs tradable from a ZAR account. Its USD account has just one ETN, iPath S&P 500, which gives investors exposure to equities market volatility.