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Más del 40% de los inversores en criptomonedas son novatos
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What s driving bitcoin s latest push through $60 000?
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How to make R200k or more per year in crypto arbitrage
With starting capital of R200k â through a technically challenging opportunity for profit that has been made easy for retail investors. 00:04
An added benefit is that clients pay nothing for foreign investment allowance applications to Sars â Ovex covers all those costs. Image: Shutterstock
This article was brought to you by Ovex.
Given the gains from cryptocurrencies such as bitcoin and Ethereum over the last year (900% to 1 400%), it shouldnât surprise anyone that making 100% a year relatively risk-free is also possible in cryptos, says Jon Ovadia, founder of crypto company Ovex.
March 11th, 2021
It is no longer possible to ignore NFTs, the crypto off-shoot that can tie intangible assets to specific, unalterable tokens. Interest in NFTs (non-fungible tokens) has spiked over the last year, and is now breaking into the mainstream with several headline-grabbing deals. On March 6th, Twitter co-founder Jack Dorsey announced that he would “sell” the first ever tweet on an NFT auction site. Right now, the current high bid for Dorsey’s initial missive stands at $2.5 million.
If Bitcoin has become the cryptocurrency world’s version of gold, a method of exchange that its boosters hope will always gain value, then NFTs are its asset class. Bitcoins are all equal, and can be broken down into chunks much like turning a dollar into change but NFTs are not, and cannot. They are intentionally unique and inviolable, allowing you to permanently tie them to a digital or real-world asset. It’s possible to produce a home ownership document as an NFT, but the world
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Crypto arbitrage is the hottest ticket in town
Ovexâs over-the-counter desk is trading R4bn a month on behalf of high volume institutional traders. Many enjoy a risk-free profit from price differences between the US and SA in a stablecoin. 10:57
Image: Chris Ratcliffe, Bloomberg
Seasoned crypto investors have known for years that bitcoin sells for a premium, usually 2% to 4%, on SA exchanges compared with overseas ones.
Using their discretionary allowance of R1 million a year, and their foreign investment allowance of R10 million, they would buy bitcoin on overseas exchanges and ship them for sale in SA, and pocket that 2% to 4% profit. The only risk was that the price of bitcoin would drop while the bitcoin was being shipped to SA, a process that normally takes a few hours.
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