In this video, I’ll read this article from Moneyweb when they wrote about profiting from Bitcoin Arbitrage.
Step One. Open an account at Kraken.
Kraken is the offshore exchange that you will buy your bitcoin from to sell it on the South African exchange. Use this link:
You need to first convert the ZAR in your bank account into USD or EUR (in my case I’m transferring to the EUR account on Kraken, most people use the USD to transact though)
After the fund clear in your Kraken account, buy BTC using the USD (or EUR) using a Market Order.
Send the Bitcoin you bought in Step one to the South African exchange that you opened in Step Two.
Sell the bitcoin for ZAR using a Market Order.
Withdraw the ZAR back into your bank account to start the process again.
As a South African citizen, you can trade this way, sending up to R1million to your Kraken account.
If you’d like to more, you’ll have to apply for a Tax Clearance Status using your SARS efiling account.
If you’d like me and my team to help you make money from arbitrage trading bitcoin, then please leave a message using one of the methods on this page and we will get in touch to give you more information.