FAQ

- A South African ID number 🇿🇦 - You should be over the age of 18 years old. - A minimum of R100 000 in your bank account to trade with. Proof of funds will be required. - By law, you need to have not utilised your full SDA or FIA

Complete the form on the start trading page OR Send an email to onboarding@dooya.co.za with your name and we'll send you more information regarding registration details.

Crypto arbitrage involves purchasing and selling cryptocurrency at the same time across various markets to profit from price differences for the same asset.

After your trade is complete, the money will be deposited back into your Capitec Business bank account. This account offers you online banking services and constant access to your funds via https://business.capitecbank.co.za/. No notice period is required when wanting to withdraw funds. Trades completed after 11AM will be paid the following weekday business day, however it may take longer due to delays with our service providers, or events that are out of our control.

We do have a referral system in place. Once you have signed up, you will receive a unique link that you can share with your friends and family to sign up with. For more information visit our Fees page or email support@dooya.co.za.

One trade is typically 24 - 48 hours from the start of the purchasing of the foreign currency to the profit being paid back to you

Price differences pop up because of supply and demand quirks in different markets. For us at Dooya, focusing on South Africa, it’s largely tied to capital controls—rules set by the government that limit how much money can flow in and out of the country. In South Africa, these controls come in the form of yearly Foreign Exchange Allowances. These limits cap how much cash you can send overseas, which ramps up local demand for crypto assets like Bitcoin. At the same time, they choke the supply of crypto coming into South Africa. The result? Crypto often trades here at premiums above 2% compared to international markets. The good news? As an individual in South Africa, you can use your Foreign Exchange Allowance to buy crypto abroad and cash in on this gap—something companies and other entities can’t do. That’s why this arbitrage opportunity has been around for over 5 years and counting. Normally, arbitrage gaps close fast—think minutes—as markets sort themselves out. But in South Africa, these price differences are baked into the system because of those controls. They’re not something the market can just ‘fix’ on its own. So, as long as these restrictions stick around, this crypto arbitrage edge is likely here to stay. Ready to make it work for you? We’ve got your back!

Dooya has sourced funding to enable us to hedge the foreign currency exposure risk on your arbitrage trades. This means that as soon as your trade is booked, we can lock in the arbitrage rate without having to wait for your funds (USD) to arrive in your Gemini account

Together with our FSP and Intermediary partner, Phynans, our new premium service means that you don't even have to book trades yourself! This is all handled for you, so you can sit back, relax and enjoy your coffee in the morning, instead of having to worry about whether to book a trade or not. The cost of your FIA applications is included, and together with Phynans we offer a semi-automated FIA application process to reduce the time and effort it takes to get FIA applications approved.

That's absolutely fine - we will not force any of our existing clients to change to a process they are not comfortable with. You are welcome to continue on the existing arbitrage process/fees should you so wish.

You will still have access to our Telegram bot to monitor your trades and the arbitrage rates. Instead of updates after each trade, you will receive a monthly statement summarising your trading activity for the month, in line with industry practise for most FSPs.

No, It does not make sense for us to book trades no matter the rate, as our profit is aligned with the interest of our client's.

Instead of sending EUR to your Kraken account, you now send USD to your Kraken account. From there, we send the funds to our Dooya Kraken account and then everything remains exactly the same from there, with the proceeds from your trade being paid back to your designated bank account.

Luno is a global crypto exchange that enables users to buy, sell, store and trade Bitcoin, Ethereum, XRP and other altcoins with local currencies. Luno has a simple and user-friendly interface, low fees, high security standards and a dedicated customer support team. Luno was founded in 2013 and operates in over 40 countries including South Africa

Gemini is a regulated and secure cryptocurrency exchange and custodian that allows you to buy, sell, store and earn interest on digital assets. The primary advantage of Gemini compared to our previous option is lower trading and bank fees. Gemini also has some features that make it more convenient and user-friendly. It was founded in 2014 by Cameron and Tyler Winklevoss.

VALR is a South African crypto exchange that connects users to the global blockchain ecosystem and allows them to buy, sell, store and transfer cryptocurrencies seamlessly and securely. VALR has over 60 crypto assets available, low or negative fees for market makers, fast verification process and an intuitive mobile app. VALR was launched in 2019 and is backed by leading global blockchain platforms such as Bittrex

Phynans are a registered FSP and Forex Intermediary, who we have partnered with to bring our clients an even better arbitrage service. All your arbitrage trades will still be on Dooya's trading service, with Phynans handling the Forex trades and FIA applications at no extra charge. More details can be found on their website

Gemini is a reputable cryptocurrency exchange that prioritises security. Here's a breakdown of their safety measures: - Regulation: Gemini is a licensed and regulated exchange in New York, adhering to strict compliance standards. - Insurance: USD held on Gemini is insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000 per individual. - Cold Storage: The majority of Gemini's assets are stored offline in secure cold storage, minimising online hacking risks. - Two-Factor Authentication (2FA): Gemini uses 2FA to add an extra layer of security to your account login. Overall, Gemini implements strong security practices to safeguard your USD deposits. For further details on Gemini's security practices, you can visit their website: https://www.gemini.com/security

Every South African citizen qualifies for an SDA (Single Discretionary Allowance) of R1 000 000. This amount means that you can trade up to one million rand per calendar year (1st of January to 31st of December). An SDA does not require SARS approval. Once your SDA has been exhausted, you can apply for an FIA (Foreign Investment Allowance) of up to R10 000 000. This amount means that you can trade up to ten million rand per calendar year (1st of January to 31st of December). To obtain an FIA, a tax clearance must be completed showing proof of funds. You do not need to apply for the full R10 000 000 in one go, but can do any amount required for your trade. Each trade requires a new tax clearance. To summarise, each South African citizen can make full use of trading up to R11 000 000.

Through white listed crypto withdrawal addresses, IP restrictions, encrypted API Keys and many more security measures we ensure your funds are safe throughout the trade process.