| Route | Typical cost | Typical speed | Reversible |
|---|---|---|---|
| Bank SWIFT transfer | 1.5% to 3% plus fees | 2 to 5 days | No |
| Specialist forex provider | 0.3% to 1% | 1 to 2 days | No |
| Stablecoin on a low-fee network | Under USD 1 | Minutes | No |
| Bitcoin | Network dependent | 10 to 60 minutes | No |
| Exchange withdrawal fee | Varies by asset and network | Minutes | No |
| Question | Position |
|---|---|
| Is crypto a financial product | Yes, under FAIS since October 2022 |
| Does exchange control apply | The Reserve Bank treats crypto transfers as subject to it |
| Does it use my allowance | Taking value offshore counts against the allowances |
| Is a platform licensed | A South African platform needs a CASP licence |
| Does SARS see it | Yes, and CARF extends that to offshore platforms |
| Item | Note |
|---|---|
| Exchange spread on buying | Often wider than a forex spread |
| Network fee | Varies enormously between networks |
| Exchange withdrawal fee | Flat per asset, can exceed the network fee |
| Spread on selling at the other end | The second conversion |
| Tax on each disposal | Every conversion is a disposal to SARS |
Data maintained by TradeAnswers · updated as the figures change