VALR is registered in South Africa and has been operational since 2019. This exchange is favorable for newbies and experts alike. VALR allows users to buy, sell, store, and transfer cryptos easily. This platform aims to offer financial services to the general public through transparency and seamless experience. VALR’s trading platform is also mobile compatible. You can download the app from google play or the app store.
VALR does not allow American investors on its platform because of the Securities Exchange Commission. The Securities Exchange Commission is a threat since America prohibits foreign companies from soliciting its investors. If the US finds out that you are soliciting its investors, they may pursue legal action.
Getting started with VALR
The first step is creating an account through the website or mobile app. Follow the steps and verify using the link sent to your email. After that, you will also verify your phone number. The next step is verification using the required documents.
Once your account is set, link your bank to VALR for you to be able to make deposits. You can either deposit the South African rand from your bank account or crypto.
VALR exchange fees
For every order you place, VALR charges a trading fee. This exchange charges takers 0.20%. As for the maker fees, VALR offers negative maker fees at -0.10%. What this implies is that guys creating the new buy or sell orders get paid to trade.
This exchange does not charge for any crypto you withdraw, but you will have to think of the network fees which are paid to miners. For you to withdraw South African rand, click on withdraw under your wallet. A code will be sent to your mobile number, and once you verify, your funds will be credited within two business days.
Permitted deposit methods
You can deposit fiat or crypto. You can deposit fiat only through wire transfer, no credit/debit card.
As soon as you have funded your account, you are now free to trade any digital asset you want. You can use fiat to buy any crypto of your choice, which you can then use to trade other digital assets. You can trade using Simple buy/sell or the VALR exchange to place a limit order.
To trade instantly, click on buy crypto, choose the assets you wish to trade, and then click on buy or sell. Alternatively, you can place a limit order to the price you want to buy or sell.
This exchange was run through the Mozilla Observatory-test to determine how secure it is. It received a B score, which is quite impressive. VALR has some features that stand out and make it secure, secure custody, layered security, and top-level regulatory compliance.
The exchange has partnered with Bittrex, a leading international crypto custodian that ensures your assets’ safety. It also recently raised funding from 100X Group which is associated with BitMEX. Secondly, it uses several protection layers to keep your account secure. Lastly, it complies with all the regulatory standards.