It nudged above 1% last week as the ZAR weakened against the USD.
The crypto arbitrage premium – once a relatively risk-free way of earning 30% or more a year – has been on a steady decline and now hovers a little below the 1% level.
There was a time you could purchase bitcoin (BTC) abroad and sell it in SA at a 4-5% profit on the same day.
The Writer's Room is a curated by Ciaran Ryan, who has written on South African affairs for Sunday Times, Mail & Guardian, Financial Mail, Finweek, Noseweek, The Daily Telegraph, Forbes, USA Today, Acts Online and Lewrockwell.com, among others. In between he manages a gold mining operation in Ghana, and previously worked in Congo. Most of his time is spent in the lovely city of Joburg.
