ZAR/BTC: what to know
The ZAR/BTC rate shows how much BTC you get for 1 ZAR. Right now, 1 ZAR buys 0.000000800736 BTC at the mid-market rate. In the other direction, 1 BTC is worth 1,248,851.17 ZAR.
In the short term ZAR is driven mainly by commodity prices and risk appetite, while BTC responds to crypto-market sentiment and liquidity.
The South African Rand (ZAR) is issued by South African Reserve Bank. The rand is named after the Witwatersrand ridge, where gold was discovered. The supply is capped at 21 million coins.
Over the past 12 months the ZAR/BTC rate has ranged between 0.000000465996 and 0.00000104239 — a change of +61.13% 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.