The crypto-currency sphere is a fast-moving and often times relentless environment. Prices can rise and fall quite dramatically day to day, and novice traders are often duped into panic selling when prices are low. Leading prime brokerage exchange, OVEX, recommends such investors find projects they truly believe in and can hold long term. The exchange homes some of the crypto sphere’s most exciting projects, thus enabling both veteran and novice investors to be on the very cutting edge of crypto investing.
Jonathan Ovadia, CEO of OVEX, points out that with OVEX, investors can avoid crypto volatility altogether by investing in stablecoins. These are a type of crypto-currency whose price is pegged to that of an outside real world asset, usually the USD.
“Worth noting are OVEX’s interest accounts, which allow users to generate yield, even on their idle crypto-currencies. Many OVEXians (a term used by the exchange for their growing community) lock up stablecoins like USDC in OVEX’s interest accounts and generate yields unheard of in traditional finance. “These interest accounts have proven so popular that we have just crossed the R1 billion mark for funds managed in these particular accounts,” says Ovadia.
Ovadia made a point of the fact that OVEX was originally launched to break down the barriers that prevent people from entering the traditional financial system. After all, he asks, why should wealth-creating investment opportunities only be accessible to those who are already rich? OVEX is on a mission to democratise finance through crypto-currency.
“What sets OVEX apart is not only the fact that it is South Africa’s largest institutional crypto-currency platform, but also the fact that it deals in a wide variety of crypto-currencies, from Bitcoin and Ethereum to TUSD, USDC and Solana.”
Why is OVEX able to offer yields unmatched in traditional finance? Well, mainly because of a fairly recent innovation known as decentralised finance (DeFi). DeFi is a peer-to-peer money service that you would normally obtain through a bank or some other form of centralised financial intermediary. DeFi in the the crypto universe affords access to standard financial services – such as the ability to borrow, lend and earn interest – without intermediaries and completely outside the ‘centralised’ financial services sector. By skipping the middleman, we ensure that the generous portion of yield allocated to financial intermediaries can instead be passed on to investors,” he adds.
With OVEX interest accounts, you can beat the banks and generate annual percentage rates (APRs) unheard of in traditional finance. OVEX offers yield generating interest accounts for an array of USD stablecoins – including USDT, BUSD and TUSD, all with yields of around 9.5%-10% – as well as a stablecoin for the South African rand, known as $ZARP, which offers yields of up to 11%. The impressive selection of stablecoin pegs is what separates OVEX from other exchanges.
“If you aren’t earning interest yet, because you are yet to dip your toes in crypto-currency, OVEX makes it easy for you to buy or sell a plethora of crypto-currencies at the simple click of a button, all while charging zero trading fees.” The OVEX buy/sell trading tool is referred to as a ‘Request for Quote’ feature. This makes purchasing crypto-currency so simple, as it automatically produces buy and sell order quotes for any currency on the platform. It is then as easy as accepting the quote and buying your chosen crypto-currency. Ovadia adds: “Our platform caters to all traders and offers the best available rates, including zero trading fees.”
Ovadia indicates that the request for quote service is supported by an over the counter (OTC) service, aimed at high-volume traders. With a trading desk that is open 24/7/365 and trades over 5.5 billion rand in volume per month, while offering continuous asset support to its customers, regardless of the hour, OTC allows you to invest at scale in a variety of crypto-currencies and stablecoins. A growing number of wealth managers, brokers and HNWIs are choosing OVEX because of the sophistication of the OTC Desk, thanks to single price execution for orders of any size, its industrial grade custodial security and its post trade settlement, which is essentially a buy now and pay later option.
“The real beauty of OVEX’s interest accounts is that when you are not trading in your chosen crypto-currencies, we enable you to still generate yield on them, even while idle.
“Best of all, with a notice period of only 14 days, investors can easily move in and out of OVEX interest, so you can choose which crypto you want to hold, and for how long, all while earning a passive income on your investments. You could say that with OVEX, you don’t merely buy crypto, you earn it,” Ovadia concludes.
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