Sometimes things just take a little longer to reach the sunny shores of South Africa. We get it, and for the most part we’re used to it. But that doesn’t mean that we can’t celebrate when we finally do get access, and today folks, we’ve been given the green light to enter the over-the-counter (OTC) crypto trading market with our own Mandelas.
The Money To Be Made On Remitano
Let’s review how much the average South African is making trading Bitcoin and other cryptocurrency on a P2P exchange such as Localbitcoins and Remitano. To figure this out we took the average profit an individual trader profits on a single trade, then calculated his total profits by multiplying their average earned per trade by the total trade volume
Several traders are already tapping into the open market of trading cryptocurrencies on Remitano. Some have seen their fair share of profits, with one trader making about R2,000,000 profit over 3 years of trading. Another trader, who has been active for 3 years has already accumulated about R3,450,000 in profits, averaging to R1,150,000 per year. While buying and selling takes time and effort, making R1,500,000 profit over 3 years (as another trader has done) is certainly achievable.
Remitano Launched in SA
The OTC crypto trading platform, Remitano, has welcomed our South African nation to their crypto trading market. Recently launched, the platform offers local crypto trading markets to users around the world, doing particularly well in Australia, Cambodia, Malaysia, Vietnam, Nigeria, and China. With competitively low fees and an automated escrow service, Remitano offers the perfect solution to local OTC trading.
The team behind Remitano are all from financial banking backgrounds and have done well to create a simple UI interface on which traders can use the escrowed peer-to-peer (P2P) cryptocurrency marketplace. The platform also offers 24/7 customer support, ensuring that any problems traders might face can be ironed out immediately.
ZAR Wallets For South African Traders
Since reaching our shores, Remitano has incorporated a ZAR wallet into their platform, which enables South Africans to trade instantly and conveniently. The new feature is easy to navigate and removes the need to convert your Rands into Dollars and then crypto.
Users need to complete a quick registration process, and then undergo KYC (Know Your Customer) as in depth as desired. Depending on your level of KYC, the platform allows users with level 2 and 3 verification to deposit R10,000 per deposit, and users of level 4 and 5 certification to deposit up to R200,000 per deposit. Remitano has ensured that the process of depositing ZAR into your wallet is as simple and smooth as possible, see below.
Ready to tap into these profits? Here’s a handy step-by-step guide on how to open your account and get trading.
How To Deposit Into The ZAR Wallet On Remitano
Here is a simple step-by-step guide on how to make use of Remitano’s new ZAR wallet feature.
Step 1: Navigate to your Wallets
1.) From the Dashboard drop-down menu, click on “Wallets”.
2.) Here users can view all their available balances for all deposited currencies. Find the South African Rand wallet and click the “deposit” button below.
Step 2: Add Your Deposit Details
1.) Select the South African bank you would like to transfer funds from by clicking the “Deposit From Bank” drop-down option.
2.) Enter the amount that you would like to deposit and click “Deposit”. Minimum deposits start at R300.
Step 3: Make An EFT Using The Provided Account Details
1.) Once you have clicked “Deposit”, Remitano will share its ZAR banking details with you.
2.) Go into your banking account, add Remitano as a beneficiary with the details provided, and make the transfer of money you indicated you’d like to deposit. Once you have made your deposit and Remitano receives the funds, your account will automatically be credited.
If you have any inactive buy crypto ads these will also automatically go live as soon as Remitano picks up your deposit.
When there are funds in any of your wallets, users can easily withdraw them at any time by simply requesting a withdrawal (in the “Wallets” section) and entering your banking details. Limits will depend on your KYC verification level.
OTC Crypto Trading in South Africa
Once your ZAR wallet or any of the supported crypto wallers is funded, you can now create Buy and Sell ads for any of Remitano’s supported cryptocurrencies. The platform allows users to P2P trade any of the following cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Tether (USDT), Litecoin (LTC) and Ripple (XRP).
Users can create Buy ads for any of these cryptocurrencies by following this simple guide. Made visible to traders in South Africa, the platform allows you to name your price. The platform also keeps the crypto in escrow, ensuring that no fraudulent transactions take place. So once you receive the funds from the buyer, the cryptocurrency is automatically delivered to the buyer and you don’t need to deal with them. OTC trading at its best.
Local OTC Trading Platform
Enjoy the many benefits and streamlined services available to you through Remitano, and take advantage of their 0% trading fees. Not only can you deposit and withdraw directly from your bank account, but you can also locally trade with fellow South Africans. Head to Remitano to start trading.
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