One of the biggest obstacles for crypto arbitrage traders in South Africa is banking restrictions. Many local banks have imposed limits on crypto transactions, making fiat on- and off-ramps a critical consideration.
Why Banking Restrictions Matter
Limited Crypto-Friendly Banks: Some South African banks block or delay crypto transactions.
Foreign Exchange (Forex) Controls: Moving money between local and international exchanges requires compliance with SARB regulations.
Delays and Transaction Fees: Traditional banking processes can slow down arbitrage trades, reducing profitability.
Solutions for Traders
Choose Crypto-Friendly Banks: Banks like Mercantile Bank and Investec are more open to crypto transactions.
Use Alternative Payment Methods: Stablecoins or P2P platforms can help move funds faster.
Work Within SARB Limits: Ensure your foreign investment allowances are not exceeded.
Struggling with banking restrictions? At Dooya, we provide tailored crypto arbitrage solutions to streamline your transactions. Get started today!