In recent years, Crypto Asset Arbitrage has become increasingly popular in South Africa. In lockdown especially, many people opted to take advantage of the difference in price between Crypto Assets overseas and in the local market. By buying Crypto overseas in Dollars or Euros, and selling it locally in Rands, a profit can often be realised. To maximise the return, our clients have looked to us to send funds abroad and to do so at the cheapest possible rate of exchange. While the awareness of the Arbitrage opportunity has grown, for the last 7 years Currency Assist has been trail blazing the movement of personal foreign exchange for crypto asset purchases.
Currency Assist does not handle or manage Crypto Asset purchases and cannot assist with this process. This is normally done on a Crypto Asset Exchange. With careful application of the rules governing Crypto Asset purchases, we simply facilitate the exchange and efficient movement of your South-African Rand (ZAR) into your foreign currency of choice to your Named Account with an approved Crypto Asset Exchange.
It is essential that these transactions occur in a manner that does not contravene the regulatory framework. Choosing the right partner to facilitate these transactions gives you some protection, although it is always your responsibility to comply with all Exchange Control regulations.
We are able to assist you to buy foreign currency. Here are some reasons to work with Currency Assist with your purchase of foreign currency intended for Crypto Asset purchases:
- We have strong relationships with multiple banking partners, ensuring you have access to the best of all available options in foreign exchange Banking.
- Our exchange volumes are significant, enabling us to deliver excellent, bank-beating, exchange rates.
- We can deliver same day settlements through our Telegram trading bot
- Automated trading ensures that your trade arrives at the bank first thing in the morning – right at the front of the queue.
- Our current dealing room team has been facilitating crypto-related foreign exchange transactions for over 4 years, bringing a wealth of experience to serve you in a rapidly emerging niche in our industry.
We have no oversight of your Crypto Exchange accounts. Crypto Assets operate outside of the financial system and all risk associated with buying, selling, and transferring such assets will always remain with you.
Disclaimer: CurrencyAssist neither gives advice nor advocates Crypto Asset arbitrage; we simply facilitate efficient, cost-effective currency transfer. We only facilitate foreign exchange transactions for Crypto Asset flows for individuals and are not able to serve corporate entities in this space.
With the Current South African regulatory framework – Individuals may purchase Crypto and digital assets from abroad through utilisation of their single discretionary allowance (SDA) (R1 million) and/or individual foreign capital allowance (FIA) (R10 million with a SARS Tax Clearance Certificate), per calendar year.
Contact us directly at info@currencyassist.co.za or via the form below, should you wish to open an account and we will provide you with our account opening documentation and requirements. The account opening process is quick and easy. Banking requirements require FICA Documentation and a reliable Source of Funds to be used for sending offshore. Funds can only be remitted to named accounts with known KYC processes in place.