VALR

What is VALR？

VALR is a cryptocurrency exchange that was founded in 2019 in South Africa. It is one of the most popular cryptocurrency exchanges in Africa, with over 100,000 users. VALR offers over 80 cryptocurrencies to trade, including Bitcoin, Ethereum, Tether, and Binance Coin. It also offers margin trading and staking, which are two features that are not available on many other cryptocurrency exchanges in Africa. As of March 8, 2023, VALR's 24-hour trading volume is $100M+. VALR's trading fees are -0.01% ( they pay you) and taker fees are 0.0.3%-0.1%. This means that you can save money on fees by placing limit orders (maker orders).

Pros and cons

VALR excels in these areas:

• Over 80 cryptocurrencies available, more choices for traders.

• Margin trading and staking offered, which are two features that are not available on many other cryptocurrency exchanges in Africa.

• Offering reward staking for a limited number of cryptocurrencies, such as BTC, ETH, USDT, BNB, etc.

• -0.01% marker fee, means that you will actually get paid to make trades on VALR if your trades are less than $100,000, which is rare among cryptocurrency exchanges.

VALR lacks these areas:

• A relatively new exchange, which means that it may not have the same level of liquidity as some of the more established exchanges.

• VALR has a high minimum deposit of $100, probably a barrier to entry for some users.

• Some users have reported that VALR customer support can be slow to respond. This may be a problem if you have a problem with your account.

• Not regulated by any regulatory authority, posing some risks for traders.

Regulation

VALR is not currently regulated by any financial services regulator outside of South Africa. We are in the process of applying for regulatory approval in other jurisdictions. This means that VALR is not subject to the same level of regulation as some other cryptocurrency exchanges. This could be a risk for some users, as it means that there is no guarantee that VALR will be safe or secure.

Security

VALR has taken a number of security measures to protect its clients' funds. These measures include:

• Cold storage: VALR keeps the majority of its clients' funds in cold storage, which means that they are offline and not connected to the internet. This makes them much more secure from hackers.

• Multi-factor authentication: VALR requires its users to use multi-factor authentication (MFA) to login to their accounts. This means that they need to enter a code from their phone in addition to their password. This adds an extra layer of security to prevent unauthorized access to accounts.

• Security audits: VALR conducts regular security audits to identify and address any vulnerabilities. This helps to keep the exchange safe and secure.

• Insurance: VALR has insurance for its clients' funds up to \$100 million. This means that if the exchange is hacked and funds are lost, the clients will be compensated.

These security measures are designed to protect VALR's clients' funds from hackers and other threats. However, it is important to note that there is no guarantee that any exchange will be 100% secure

Trading Markets

The trading platform offers a range of products designed for various levels of experience and investment strategies in cryptocurrency trading:

• Simple Buy/Sell: This feature is for beginners or those who prefer straightforward transactions. It enables users to buy or sell cryptocurrencies easily, bypassing the complexities of advanced trading features. Ideal for newcomers to crypto or for those who favor a more direct, less technical approach to trading.

• Advanced Exchange: Tailored for more experienced traders, this platform offers customizable options for executing sophisticated trading strategies. It may include detailed charting tools and a variety of order types, such as limit and stop orders, along with access to a broader range of cryptocurrencies. This option suits traders who need more control and advanced features in their trading activities.

• Futures Trading: This service allows trading in cryptocurrency futures, including perpetual futures with up to 5x leverage. Perpetual futures are derivatives contracts without an expiration date, allowing traders to hold positions indefinitely. The leverage feature enables traders to take positions that are significantly larger than their actual account balance, amplifying both potential gains and risks. It's meant for experienced traders who are knowledgeable about the complexities and risks of leveraged trading.

• Auto-Buy Crypto: An automated investment service where users can set up recurring purchases of cryptocurrencies. This 'set-and-forget' strategy is often used for long-term investment horizons and is especially beneficial for those looking to invest in crypto without actively managing their trades. It's also favorable for those who believe in the long-term growth of their chosen cryptocurrencies, adopting a strategy known as “dollar-cost averaging”.

Each product caters to different trading needs and risk appetites, from beginner-friendly options to complex and riskier strategies for seasoned traders. Users should understand their own trading goals and risk tolerance before engaging with these products.

Cryptocurrencies available

VALR offers over 80 cryptocurrencies for trading. These include Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance Coin (BNB), XRP (XRP), Cardano (ADA), Solana (SOL), Terra (LUNA), Avalanche (AVAX), and Polkadot (DOT), etc. Here you can find the full list of cryptocurrencies available on the VALR exchange: https://www.valr.com/buysell.

VALR has a relatively quick coin listing speed. The exchange typically lists new cryptocurrencies within a few weeks of them being announced. However, VALR does have some criteria that it must meet before listing a new cryptocurrency. These criteria include:

• The cryptocurrency must have a working product and a team of developers.

• The cryptocurrency must have a strong community and a track record of growth.

• The cryptocurrency must be compliant with all applicable laws and regulations.

Other Services

The trading platform offers a diverse array of services catering to individual and business needs in the cryptocurrency space:

Stake Crypto: This service allows users to earn crypto by staking their assets. The platform handles the complexity of on-chain staking, enabling users to earn hourly rewards on select crypto assets with ease. Users can stake and unstake their assets at any time, with rewards paid out regularly to their spot wallet. This feature is designed for ease and flexibility, allowing users to earn passive income by holding their crypto assets on the platform.

VALR API: VALR provides a robust API that includes REST endpoints for transactional operations and a Websocket service for streaming market, order, and balance updates. The API allows users to access current and historic market data, submit trade orders, and manage their cryptocurrency and fiat currency wallets. This is governed by the platform's Terms of Service, and support is available for users with questions or feedback regarding the API.

Full-Suite Crypto Services for Businesses: VALR offers a comprehensive set of crypto services tailored for businesses. Companies can leverage VALR's infrastructure to offer crypto services to their customers through their own interface, with the advantage of no additional user onboarding, instant transactions, and an attractive commercial model. This service is a combination of front-end flexibility, where businesses handle their customer interface, and back-end support provided by VALR's infrastructure. It includes features like depositing and withdrawing both crypto and fiat, trading over 65 cryptocurrencies, submitting various order types, accessing market data, creating subaccounts, and utilizing VALR Pay for transactions in both cash and crypto.

Each of these services is designed to cater to different aspects of crypto trading and management, offering both individual users and businesses a range of tools and features to manage their crypto assets effectively.

How to open an account？

The registration process of VALR can be completed in the following steps:

1. Visit the VALR website and click on the “Get Started” button.

2. Enter your email address and create a password for your account.

3. Verify your email address by clicking on the verification link sent to your inbox.

4. Provide your personal information, including your full name and date of birth.

5. Complete the KYC (Know Your Customer) verification process by uploading a copy of your ID or passport and proof of address.

6. Once your account has been verified, you can start trading and deposit funds into your account.

How to buy Cryptos？

To buy or sell cryptocurrencies on VALR, the platform offers two main trading methods: Simple Buy/Sell and Exchange Buy/Sell.

Simple Buy/Sell: This method is ideal for beginners and supports transactions in over 50 cryptocurrencies. To use it, you first log in to your VALR account. Then, you navigate to 'Explore markets' and select 'buy' or 'sell' for the cryptocurrency you want to trade. You enter the amount in South African Rand (ZAR) or in another cryptocurrency that you wish to spend. After reviewing your buy or sell order, you confirm the transaction.

Exchange Buy/Sell: This is a more advanced platform mainly for trading Bitcoin, Ethereum, XRP, and soon other cryptocurrencies with Rand (ZAR). It differs from Simple Buy/Sell as it allows users to set specific prices at which they want to buy or sell, instead of transacting at the current market price. In this method, you place an order which is then listed on the order book. For your order to be filled, another user must accept your buy or sell offer. This process may not result in instant transactions as it depends on matching offers on the order book.

Fees

Trading fees on the exchange vary depending on the type of pair being traded. For USDC pairs like BTC/USDC, makers receive -0.01% (a rebate), while takers pay 0.03%.

As you can see, the maker fee is negative for all USDC pairs, which means that the exchange will pay you a small percentage of your trade size for placing a maker order. The taker fee is 0.03% for all USDC pairs, which is the standard fee that you will pay for taking liquidity from the order book. rewrite this sentence to make it easy to understand

For ZAR pairs like BTC/ZAR, makers also get -0.01%, but takers pay a higher fee of 0.1%.

Additionally, for simple buy/sell transactions, there's a brokerage margin of 0.1% for crypto-to-crypto pairs. An ongoing promotion offers reduced fees of 0.75% for ZAR to BTC, ETH, XRP, SOL, or USDC pairs, and 0.85% for ZAR to other cryptocurrencies (Simple Swaps).

Deposit & Withdrawal

VALR supports the following deposit and withdrawal methods:

• Fiat currency: VALR supports deposits and withdrawals in South African Rand (ZAR) and Zambian Kwacha (ZMW). You can deposit ZAR into your VALR account via EFT or card.

• Cryptocurrency: VALR supports deposits and withdrawals in a variety of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and USD Coin (USDC). You can deposit cryptocurrency into your VALR account by transferring it from another wallet or exchange.

Withdrawal procedures differ based on whether you are a client from South Africa or from other parts of the world.

For traders in South Africa, deposits and withdrawals have different fee structures:

• Deposits in ZAR (South African Rand) via EFT are free.

• Deposits in ZAR via Card have a fee of 3.9% for the first month and R8.50 thereafter.

• Crypto deposits are free.

• Withdrawals in ZAR are free up to a cap of 30 per month.

• Crypto withdrawals have variable fees.

For clients outside of South Africa, withdrawal fees are as follows:

• Withdrawals in ZAR are free up to a cap of 30 per month. After that, a fee of R8.50 applies.

• Crypto withdrawals have variable fees.

Educational Resources

VALR only provide basic glossary for clients to use.

Customer Support

VALR offers customer support to assist users with their queries and concerns. The customer support team is available during business hours, which are typically from Monday to Friday, 9:00 AM to 5:00 PM South African Standard Time (SAST).

Users can contact VALR's customer support team through various channels, including email and a support ticket system. The email address for customer support can be found on the VALR website. Users can submit their inquiries or issues through these channels, and the support team will respond as soon as possible.

VALR's customer support is available in English, which is the primary language of communication for the platform. Users should ensure that their queries and communications are in English for effective assistance.

Is VALR a Good Exchange for You？

VALR maybe a good exchange for traders in the following types:

• Traders who like getting rewards from staking

• Traders who prioritize low trading fees

• Traders who want to try margin and stake trading

Has VALR experienced any controversy？

Yes, VALR has experienced some controversy:

In 2021, the Financial Sector Conduct Authority (FSCA) of South Africa fined VALR ZAR 3 million (about US$200,000) for failing to comply with anti-money laundering regulations. The FSCA found that VALR had not implemented adequate measures to prevent money laundering and terrorist financing, and that it had failed to report suspicious transactions to the authorities.

VALR has also been criticized for its high fees. In 2022, the company announced that it would be raising its fees for both fiat and cryptocurrency transactions. This move was met with criticism from some users, who argued that VALR was already one of the most expensive exchanges in South Africa.

Compare VALR with other exchanges

Features
Trading Fees	Maker: -0.01%, Taker: 0.0.3%-0.1%	Maker: 0.04%, Taker: 0.075%	Maker: 0.05% - 0.1%, Taker: 0.1% - 0.5%	Up to 0.40% maker fee and up to 0.60% for taker fee
Cryptocurrencies	80+	500+	11	200+
Regulation	No regulated	Regulated by NMLS, MAS/FinCEN (Exceeded)	Regulated by FSA ( Japan), NMLS, CSSF, DFI, NYSDFS	Regulated by NMLS , FCA, NYSDFS, SEC (Exceeded), FINTRAC (Exceeded)

User Reviews

Emily Anderson

March 15, 2023

“I had a pretty bad experience with VALR. First off, their customer support is incredibly slow. I had an issue with a withdrawal, and it took ages for them to even respond. Not a great start. And when it comes to fees, they can be pretty steep, especially for certain cryptocurrencies. Also, the interface feels a bit clunky and confusing. I couldn't find some basic order types easily, and that's frustrating. Plus, their withdrawal speed is not impressive at all. Took way longer than I expected. Definitely not feeling secure trading here, especially with the lack of transparent information on their security practices.”

Jonathan Williams

May 28, 2023

“VALR has been a solid exchange for me. The interface is clean and straightforward, making it easy to navigate and trade. The variety of cryptocurrencies available is impressive, giving me plenty of options to diversify my portfolio. I appreciate that they prioritize security with their multi-signature wallets and cold storage. Plus, they're regulated, which adds a layer of trust. Customer support, though not instant, has been helpful whenever I had questions. The liquidity is usually good, and the trading fees are reasonable. Also, they've got pretty quick deposit and withdrawal speeds. I've found their privacy and data protection measures reassuring. All in all, VALR has been a reliable choice for my crypto trading journey.”

Conclusion

In short, VALR is a cryptocurrency exchange with good things like different fees based on your level, an easy-to-use trading platform, and lots of cryptocurrencies to choose from. They also help you learn about trading . But some people have had technical problems and slow deposits or withdrawals. So, when deciding about VALR, think about what you like and your own experiences.

FAQs

Q: How do I deposit funds into VALR？

A: You can deposit funds into VALR in a variety of ways, including EFT, card, and cryptocurrency. EFT deposits are free, while card deposits incur a 3.9% fee. Cryptocurrency deposits are free.

Q: What are the withdrawal methods supported by VALR？

A: VALR currently supports bank transfers as the main withdrawal method.

Q: How long does it take for withdrawals to be processed on VALR？

A: The processing time for withdrawal requests may vary depending on the specific circumstances, but it typically takes within a few business days for the funds to be transferred to the user's bank account.

Q: How many cryptocurrencies are listed on the VALR exchange？

A: Over 80 cryptocurrencies are available on the VALR exchange.

Q: Has VALR encountered any controversies？

A: VALR has not encountered any significant controversies or negative publicity. However, users should conduct independent research and stay updated on the latest news for a comprehensive understanding of the exchange.

Risk Warning

Cryptocurrency trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.