Founded in 2018, VALR is a cryptocurrency exchange that offers beginners and experts exposure to the cryptocurrency market and currently boasts over 60 crypto-assets, and… that pays you to trade.
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Trading Pairs
With over 60 crypto-assets, you are able to explore the widest selection of crypto assets available from a South African centralised exchange. Cryptocurrencies include all the popular coins and tokens like Bitcoin or Ethereum as well as new and upcoming projects.
VALR is able to offer traders access to such a large variety of tokens thanks to partnerships with global exchanges and intermediaries which enable VALR to execute fast trades and provide users industry-leading security.
Exchange
VALR has several ways to trade cryptocurrency. You can swap your coins or crypto tokens, buy or sell crypto using their Simple Buy and Sell user interface – similar to that of many beginners investing platforms, or you can buy and sell via their intuitive exchange with all the features you’d ever need.
Mobile App
VALR also has a mobile app available on Google Play and the Apple App Store where you can monitor your crypto trades and holdings and make trades on the go. In my opinion, this is the best designed crypto trading mobile app I’ve used and looks great.
Features
VALR has a cool autopilot feature which allows crypto traders or especially passive investors to schedule recurring EFT payments from your bank and automatically buy your desired crypto and credit it to your account.
Sign-up
VALR makes use of artificial intelligence combined with machine learning technology to enable a smooth and fast sign up process while ensuring the highest security and maintaining compliance with local and international regulations.
All you need to do to sign up is take a picture of your national ID document, pass a liveness test with a short video or selfie. VALR then uses machine learning to match your face to your submitted ID.
Within minutes you’ll be able to deposit funds and start trading.
Security
VALR states that your trust and security are important to them and that they are committed to keeping your assets and personal information safe.
In order to do this, VALR keeps your crypto assets in both ‘cold storage’ and “hot wallets’, with the cold wallets being geographically-dispersed and access controlled, while the hot wallets are online multi-signature wallets which are required to main their operational liquidity.
Next, your personal sensitive account information is encrypted in transit and rest. A great requirement from VALR is that authorisation is needed whenever you access your account from any new device or new location.
Furthermore, two-factor authentication is required for all critical transactions.
Lastly, VALR also has internal controls for financial security. In which no individual within the company may single-handedly transfer crypto-assets. Multiple signatories are required to move your funds and their offices do not store any crypto assets.
VALR also makes it clear that all customer fiat funds are always held in segregated accounts, distinct from VALR’s operational accounts.
Pricing and Fees
VALR’s makes it’s pricing and fees transparent and like most crypto exchanges such as Luno, their fees are minimal.
Deposits
- Free crypto deposits
- Free fiat deposits
Withdrawals
- Fiat withdrawal: R8.50
- ZAR fast withdrawal: R60
- Crypto Withdrawal: Variable (Some coins have gas fees)
VALR Pay
- Free cash and crypto payments to an cellphone number
- Free cash and crypto payments to any email address
- Receive cash and crypto payments free
Simple Buy and Sell
- 0.75% per trade
Simple Swap
- 0.85% per trade
Exchange Buy and Sell
- 0.1% for takers
- -0.01% for makers (VALR pays you)
Furthermore, there are no monthly management fees.
Team
VALR is led by Farzam Ehsani. Farzam aided in establishing the Foundery, RMB’s FinTech unit, where he previously led RMB’s Blockchain Initiative.
VALR’s team further consists of skilled software engineers and executives.
Referral Program
VALR has one of the best referral programs which enable you to save 15% on your trading fees when you refer someone and earn additional lifetime rewards when you refer more people.
There are also levels to these rebates and rewards. You can earn more by referring more people.
The current rebate and rewards referral levels are as follows:
| Referral level | Requirements | Rebate | Reward |
| Level 1 | Sign-up with referral your unique code | 10% | – |
| Level 2 | Refer one sign-up | 15% | – |
| Level 3 | Refer two or more sign-ups | 15% | 10% |
Final Thoughts
VALR and Luno are the two leading crypto exchanges in South Africa. Of the two, VALR is my go to due to its simplicity and softer user interface. If I had to compare VALR to a banking app, it draws similarities to FNB and everything works all the time. Deposits reflect in your account quickly and withdrawals are fast.
If you’re looking for exposure to more than just a select few cryptocurrencies, VALR is definitely a good choice. Oh, and don’t forget you also get paid for being a market maker.