VALR, South Africa’s largest crypto exchange by volume, has launched an arbitrage desk to help its clients take advantage of the differences in local and international Bitcoin prices to amplify their funds.
The service, dubbed VALR Arbitrage, is still in pilot stage but is open to South Africans or residents looking to get in.
VALR Arbitrage helps customers “buy low and sell high” simultaneously in local and international cryptocurrency markets to lock in a profit.
Crypto arbitrage in South Africa has had impressive returns. Eligible individuals that have SARS regulatory approval, with R1,000,000 (about $65, 000) for example, which is the annual SA exchange control allowance, have historically earned up to R50, 000 (about $3,500).
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SEE ALSO: VALR Sees 5x Increase to Become the Largest Crypto Exchange in South Africa in 2020
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Depending on the initial capital being traded, it takes between a few days to a few weeks of arbitrage trading to get your capital and profits back.
In summary, the higher the initial amount of trading capital, the quicker your principal and profits will be returned and the better the return will be.
Speaking to BitKE, Farzam Ehsani, CEO, VALR, said:
“VALR launched the VALR Arbitrage service to help people take advantage of pricing dislocations in local and international markets.
This opportunity really exists because of capital controls in the South African market.
We’re excited that this product will be of benefit to South African citizens and residents.”
– CEO, VALR
The VALR Arbitrage service comes with 3 key benefits:
- Capital Protection – Proprietary automated and hedged trading system guarantee your initial capital investment
- Preferential Rates – Best negotiated FX rates to maximize your profit
- Caring Service – Process guidance by an attentive staff to ensure your peace of mind
Who is eligible for the service?
- South African citizens / residents
- Have at least R200, 000 (about $15, 000)
- A South African bank account
A service fee of 25% on profits generated is charged. This fee however is only charged if you make a profit. If there are no generated profits, there will be no fee.
To sign up for the VALR Arbitrage service, visit: www.valr.com/arbitrage
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NB: The above is not investment advice. The return on your allowance is not guaranteed and is subject to market conditions
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RECOMMENDED READING: We Grew from 15, 000 Customers to Nearly 100, 000 in 2020, Says VALR, a Leading South African Crypto Exchange
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