Recent content by Melch

  1. M

    SARB appeals court ruling declaring cryptocurrency is not money in South Africa

    As things currently stand do purchases on Valr or Luno count towards your SDR or FIA or are these purchases count as local spend.
  2. M

    SARB appeals court ruling declaring cryptocurrency is not money in South Africa

    Does anyone know what this means for tax purposes or for how sars considers crypto purchaced locally on sites like VALR or LUNO counting towards your SDA or FIA? Previously I understood that any crypto bought on a local exchange did not count towards SDA and FIA as the money does not leave the...
  3. M

    SARB appeals court ruling declaring cryptocurrency is not money in South Africa

    It gets taxed as normal income.
  4. M

    Buying crypto using Capitec bank transfer

    Capitec blocked my payments to valr (last time I tried was around April). It was really annoying, they payments would just fail with no explanation. I am not sure if I called them or if its in their documentation but I found out they were blocking all cypto related payments at the time. If I...
  5. M

    Need some advice on crypto trading

    Perpetual futures make use of a funding rate mechanism to keep the perpetual future price close to the spot price. "Normally" when the price has been increasing the long position pays the short position. this funding rate eats into your profits over time. This is on top of the risk of bitcoin...
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