A major trading platform in South Africa has added support for Bitcoin and Ethereum
One leading financial companies of South Africa Purple Group declared addition Bitcoin and Ethereum on the platform of GT247.com, giving to the users possibility of purchase these two largest on capitalization cryptocurrencies after fiat. About it reports local edition of Business Day. About beginning support the BTC and ETH made decision in the light of “freight from the side clients” and notable yet and because during many years Purple Group conducted fully successful trade activity and without cryptocurrencies. Addition possibility purchase Bitcoin and Ethereum for the South African rand it is possible thus to consider a large enough event. Besides it, users got possibility of opening short positions on BTC and ETH, that, having regard to current status of the market, also can become an attractive option. We will mark that in South Africa there is strong growth to Bitcoin and other cryptocurrencies. The residents of the country can buy them on local exchanges as though Luno and Ice3x or through the regional offices large international brokers, for example, Saxo Bank.
“We look after large involved from the side of the international banks and exchanges in the questions of adjusting cryptocurrencies. I suspect, in the future they want to see them as a legal class assets”, – a trade specialist Purple Group said Barry Dumas.
He considers also, that is signs that a cryptocurrency market begins to be stabilized.
“We will see volatility yet, but not on those levels, that last year”, – added Dumas.
We will remind, in May intention to start an own cryptocurrency exchange was declared by a being based in Johannesburg investment company Sygnia Ltd. It is expected that it will happen in the third quarter in 2018. Join our Telegram channel https://t.me/blockchaininvestio
I would just like to find out if anyone knows which South African banks I can use to trade in Bitcoin. I would like to have an easier way to cash out my Bitcoin that I get from online transactions. If someone could assist me with some advice I'd really appreciate it, thank you :)
Bitcoin arbitrage trading in South Africa. In South Africa, you can do bitcoin arbitrage by buying on Coindirect.com and selling on Luno.com or localbitcoins.com. The trick is to buy using your credit card/cheque card on Coindirect where credit card purchases are cheaper than other payment methods and sell at Luno where bitcoin is sold at the local premium. Bitcoin rises and falls in value like every other currency pair being traded in the Forex market; this opens the door to a money-making opportunity, which many Forex traders did not hesitate to take advantage of. Since the idea of trading bitcoin became popular in South Africa, many of the early birds trading bitcoin have made thousands of dollars from it. IC Markets is a low cost broker for Bitcoin CFD trading in South Africa. They are regulated with tier 1 ASIC regulation, and have the lowest fees when compared with other bitcoin brokers. Their cryptocurrency instruments available for CFD trading are also higher in number; including Bitcoin, Litecoin, Ripple, Ethereum, Dash Coin & 4 other cryptos. IC Markets has the lowest bitcoin trading fees ... IG is a trading name of IG Markets Ltd and IG Markets South Africa Limited. International accounts are offered by IG Markets Limited in the UK (FCA Number 195355), a juristic representative of IG Markets South Africa Limited (FSP No 41393). South African residents are required to obtain the necessary tax clearance certificates in line with their foreign investment allowance. Traders use bitcoin exchanges to trade bitcoin like Forex 24/7, but for investment purposes, you would just use the exchange to buy your bitcoin when investing, or sell your bitcoin when divesting. Please also take a look at our more recent post on investing in bitcoin here: Easy Bitcoin investment in South Africa
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