What’s happened to the crypto arbitrage spread? – The Writer’s Room
What was once a thriving cottage industry in SA has shrivelled into irrelevance. What happened? From Moneyweb.
Thousands of South Africans made a decent income over the years from crypto arbitrage – buying crypto assets abroad and selling them at a higher price in SA.
In 2017, you could buy bitcoin (BTC) on an overseas exchange like Kraken and sell it an hour later on Luno and pocket an 8.65% profit. Then repeat the process so long as your R1 million a year Special Discretionary Allowance (SDA) lasted, before tapping into your R10 million a year Foreign Investment Allowance (for which you need South African Revenue Service tax…
