BTC/ZAR: what to know
The BTC/ZAR rate shows how much ZAR you get for 1 BTC. Right now, 1 BTC buys 1,244,696.28 ZAR at the mid-market rate. In the other direction, 1 ZAR is worth 0.000000803409 BTC.
In the short term BTC is driven mainly by crypto-market sentiment and liquidity, while ZAR responds to commodity prices and risk appetite.
The supply is capped at 21 million coins. The South African Rand (ZAR) is issued by South African Reserve Bank. The rand is named after the Witwatersrand ridge, where gold was discovered.
Over the past 12 months the BTC/ZAR rate has ranged between 959,336.95 and 2,145,942.12 — a change of -37.94% versus a year ago.
Because this pair involves a cryptocurrency, expect much higher volatility than typical fiat pairs. Use this mid-market figure as your benchmark: compare it with the rate your bank or broker quotes, and the difference is the margin you would pay.