How To Make Money From Cryptocurrency In South Africa

Overview

In computer science, a cryptocurrency, crypto-currency, or crypto is a digital currency that does not rely on any central authority to uphold or maintain it. Instead, transaction and ownership data is stored in a digital ledger using distributed ledger technology, typically a blockchain.

Cryptocurrencies are powered by blockchain networks. A blockchain is essentially a digital ledger made up of expanding blocks of data. With a blockchain’s distributed ledger, records are be kept across multiple computers on a network. Each computer is called a node, and these nodes verify and store the data.

How To Make Money From Cryptocurrency In South Africa

There are many ways to make money from the cryptocurrency markets. Not only does this include buying and HODLing digital currencies in the conventional sense – but also via staking, interest accounts, airdrops, play-to-earn games, and more.

When it comes to OVEX, South Africa’s leading crypto arbitrage platform and digital exchange, there are three core investment opportunities on offer: Arbitrage, Over-the-Counter Trading (OTC) and Interest Accounts.

In South Africa’s current challenging economic climate, additional revenue streams are very attractive – especially ones that allow for passive income.

What’s more, South Africa’s economy also makes for fertile investment ground when it comes to crypto services like arbitrage – where exchange disparities can be leveraged for a profit.

Arbitrage

This is when you purchase a product in one market at a lower price and sell it in a different market for a profit.

With its instant trading capability, OVEX helps customers do this easily with its presence in both local (ZAR) and international (USD) markets.

This means you can purchase an asset at a lower price on one exchange (internationally) and sell the asset for a higher price in South Africa almost simultaneously. The difference in price becomes your profit, a profit that is protected by OVEX’s fast and efficient trade across exchanges by avoiding prolonged exposure to volatile markets due to delayed trade transactions.

Crypto arbitrage, just as traditional arbitrage in other industries, for example, trading commodities, comes with risks too.

Crypto arbitrage is, however, the safest entry point for newcomers as it is the least risky form of trading crypto-currencies.

OTC trading

The OTC service provides a secure, private and personalised platform for institutions and high net-worth customers to trade crypto-currency at scale.

With low fees (zero for high volume investors), 24-hour plus full asset support and ultra-deep liquidity to preserve market price, the OTC trading platform will provide you with unmatched execution and settlement services.

Interest account

This is a way to take advantage of passive interest-earning investment opportunities.

With OVEX, all that is required on your end is to deposit crypto-currency into your OVEX interest account.

Interest will be accrued on a daily basis with earning potentials of up to 20% annualised interest on certain crypto-currencies.

Other ways to make money from Cryptocurrency

If you’re wondering how to make money from cryptocurrency right now – these are some methods:

Investing in Promising New Coins Early – Overall Best Way to Make Money With Cryptocurrency
Staking and Interest – Earn Passive Income on Idle Cryptocurrency Tokens
Day Trading – Make Money by Trading Cryptocurrency Pairs
HODLing – Invest in Cryptocurrency and HODL Long Term
Play-to-Earn Crypto Games – Earn Rewards for Playing Crypto Games
Crypto Yield Farming and Lending – Generate an Attractive APY on Your Cryptocurrencies
Faucets – Earn Free Cryptocurrency by Completing Simple Tasks
Airdrops – Cryptocurrency Tokens Deposited Into Your Wallet for Free
DAOs – Buy a Share in a Decentralized Autonomous Organization
Mining – Mine Cryptocurrency by Connecting Hardware to Your Desktop Device

Frequently Asked Questions (FAQs)

Is cryptocurrency a good investment in South Africa?

Cryptocurrency is inherently risky, and we are not providing investment advice here. That helps explain why in March 2021 — when Bitcoin was near its all-time high price— 62% of crypto investors (opens in new tab) believed crypto would make them rich. Four months later, Bitcoin’s price had dropped by nearly 50%.

Is crypto real money?

Cryptocurrency, sometimes called crypto-currency or crypto, is any form of currency that exists digitally or virtually and uses cryptography to secure transactions. Cryptocurrencies don’t have a central issuing or regulating authority, instead using a decentralized system to record transactions and issue new units.

Can cryptocurrency be converted to cash in South Africa?

There are two main avenues to convert bitcoin to cash and ultimately move it to a bank account. Firstly, you can use a third-party exchange broker. These third parties (which include bitcoin ATMs and debit cards) will exchange your bitcoins for cash at a given rate.

Does crypto have a future in South Africa?

Predictions state that the global crypto market will increase by more than triple by the year 2030. The overall valuation of this market would be close to 5 billion dollars.

Who gets the money when you buy crypto in South Africa?

A buyer and seller agree on a price and a trade is executed over an exchange. So our $50k investor buys that amount of bitcoins and the seller receives the $50k in the form of a cash deposit. That seller may now keep it in the bank, buy other cryptos or withdraw it and spend it in any way they choose.

Who owns the most Bitcoin?

The entity that is widely acknowledged to hold the most Bitcoin is the cryptocurrency’s creator, Satoshi Nakamoto. Nakamoto is believed to have around 1.1 million BTC that they have never touched throughout the years, leading to several theories regarding their identity and situation.

How do you make money with crypto in South Africa?

This is the most common way of earning money from cryptocurrencies. Most investors buy coins such as Bitcoin, Litecoin, Ethereum, Ripple, and more and wait until their value rises. Once their market prices rise, they sell at a profit.

What crypto should I buy for a beginner in South Africa?
Best Cryptocurrencies To Invest In

Bitcoin.
Ethereum.
Binance Coin.
Cardano.
Polygon.
Terra 2.0.
Avalanche.
Chainlink.

Where will Dogecoin be in 5 years in South Africa?
Dogecoin Price Prediction 2026

The future price increase of DOGE/USD is predicted to be around $0.35 around 2026, according to our long-term Dogecoin price prediction. The maximum price estimated for the next 5 years is $0.78.

How do I cash out a million bitcoins in South Africa?

Cashing out Bitcoin is best done via a third-party broker, over-the-counter trading, or on a third-party trading platform. You can also trade it peer-to-peer. Cashing out a massive amount of Bitcoin comes with limited restrictions on daily withdrawals.

Will crypto make me rich in South Africa?

There are literally thousands of cryptocurrencies you can trade, but many, if not most, of these won’t ever amount to anything. Although you may get lucky and make money trading any crypto, if you’re looking to build long-term wealth, you’ll have to invest in cryptos that have staying power.

How much should I invest in crypto as a beginner in South Africa?

It’s your first form of investing: To echo Varun Marneni, a certified financial planner with Atlanta’s CPC Advisors, it’s best to have $100,000 in safe investments first before you invest in crypto.

What is the minimum amount to invest in Bitcoin in South Africa?

Search for Bitcoin – Type ‘BTC’ or ‘Bitcoin’ into the search bar at the top of your screen and click ‘Trade’. Invest – Enter the amount you’d like to invest in Bitcoin (minimum of $10), double-check everything is correct, and click ‘Open Trade’.