Arbitrage Updates in South Africa #
If you are in South Africa then there is a very good opportunity to make money doing arbitrage. As we explained in previous courses, arbitrage is the activity we perform when we buy an asset in a market and sell it in another market for a better price. If we do this many times, we can get large profits.
In this opportunity, you can buy Bitcoin (BTC) in Europe or in the United States for cheaper, and sell it in South Africa for more. This would allow you to make money. One of the possibilities you have is to open the OVEX cryptocurrency exchange, register to this platform and link your bank account to it. OVEX does the whole process for you for a commission. The process entails OVEX sending the money in USDT to the United States where you can convert it to Bitcoin and send the BTC back to South Africa. In South Africa, you can sell the BTC in just a few seconds and make profits with BTC price differences across countries.
Introduction to CoinMarketCap #
CoinMarketCap is one of the most popular and important platforms in the cryptocurrency market. This listing website shows most of the cryptocurrencies in the world. At the moment of writing this guide, there are more than 7,433 cryptocurrencies, 31,358 markets, and the entire valuation of virtual currencies surpasses $355 billion.
The site will be very useful for traders and investors that want to get valuable information about cryptocurrencies. You can see virtual currencies, their market capitalization, the price of the coin, the volume in the last 24 hours, the circulating supply and the price graph in the last 7 days.
You can also get information about historical snapshots that will show you past information about virtual currencies, including price, market valuation, etc. This can be very useful to understand how cryptocurrencies evolved over time. With CoinMarketCap you will also get data about small cap coins. This is going to be useful if you want to invest in these virtual currencies.
CoinMarketCap is also providing information about volumes of each of the virtual currencies they have listed. This means you will be able to get valuable data on which are the currencies that are currently being traded the most and which tokens do not have trading volume or are not liquid.
If you want to invest in low-cap coins, then the best thing you can do is to search for those that have high volumes and that can be acquired in most of the largest exchanges in the world such as Binance, or Coinbase. If you are a trader or a regular investor in virtual currencies, CoinMarketCap should be the tool you use on a daily basis to get a clear overview of the market, the price of the most popular virtual currencies and more. Furthermore, you will also find valuable information about decentralized finance (DeFi), derivatives and Yield Farming, among other things.
