Cryptocurrency continues to increase in popularity in South Africa as people see it as an alternative to investing in the weak local economy.
This is evident in the success of OVEX, which is processing billions of rand worth of cryptocurrency investments every month.
OVEX is preferred by South African investors due to its low fees, tight spreads, and fast settlements.
It offers several ways to invest your cryptocurrency, each of which offer great returns.
Interest accounts are a great way to invest with OVEX.
This is because they function similarly to a traditional savings account – you put your cryptocurrency in the account, and earn annualised interest on it.
This interest is then paid out daily and is a guaranteed revenue stream.
You can invest in either tethered cryptocurrencies like TrueUSD and Binance USD, or traditional cryptocurrencies like Bitcoin – and earn up to 20% annualised interest depending on your investment choice.
OVEX operates a high-volume OTC desk which offers private and personalised services for clients.
Trading is open 24/7 and provides institutions and high net-worth individuals unmatched execution and settlement services.
Key features include:
- Post-trade settlement
- Ultra-deep liquidity
- Full asset support
- 24/7 communication
- Margin services
- Low fees
A popular investment option offered by OVEX is cryptocurrency arbitrage.
This allows investors to exploit mismatches between the price of Bitcoin in US Dollars and the price in South African Rand.
Over the past few years, BTC/ZAR markets have traded at an average premium of 4.6% when compared to BTC/USD markets, and this allows for buying Bitcoin in one market and selling in another to make a profit.
South African OVEX customers are allowed to use their annual Single Discretionary Allowance (SDA) of R1 million and Foreign Investment Allowance (FIA) up to an R10 million to earn arbitrage trading profits.
Sign up to OVEX
If you’d like to make money through cryptocurrency, OVEX has a product that suits your needs.