Since its 2019 introduction and being a registered company in South Africa ( Registration Number 2018/211274/07), VALR, a cryptocurrency exchange has been creating ripples in the digital asset market.
This article will examine VALR’s offerings in detail, including its user-friendly interface, cryptocurrency selection, trading fees, security features, and more.
Whether you are a seasoned crypto trader or just starting out in the world of digital assets, this analysis seeks to provide valuable insight into VALR’s strengths and opportunities for growth.
This review examines VALR’s history, popularity, partnerships, and global reach aimed at providing you with a comprehensive understanding of what this exchange has to offer.
Using customer feedback and a product overview to provide a balanced evaluation of its strengths and areas for refinement, let’s scrutinize the various aspects that make or break VALR.
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1. VALR User Experience And Interface
The user interface and experience provided by VALR have been met with varied reviews. Positively, many users have found the platform to be relatively intuitive and uncomplicated, making it accessible to both novice and seasoned traders.
The design and layout are generally user-friendly, with distinct sections for purchasing, selling, and managing cryptocurrencies. Those who favour a hassle-free trading experience appreciate this straightforwardness.
There are however areas in which the user experience could be enhanced. Some users have reported minor bugs and sluggish loading times, which can be aggravating during peak trading hours when navigating the platform.
Moreover, while the interface is relatively intuitive, there is still room to improve educational resources for those new to the crypto space. At the time of writing, there are no guides or tutorials on the official YouTube channel for VALR, which would have been useful for users just beginning their cryptocurrency voyage.
The support for multiple fiat currencies, including US Dollars (USDC), South African Rand (ZAR), and Zambian Kwacha (ZMW), is a notable advantage of the VALR user interface.
This diversity accommodates users from various regions, making it more accessible and practical for a worldwide audience.
The user interface of VALR is reasonably user-friendly, but there is room for minor performance and educational resource enhancements.
The platform’s support for multiple fiat currencies is a notable advantage that makes it accessible to users from a variety of geographic regions. As with any platform, however, there is always space for improvement in order to meet the evolving requirements of cryptocurrency traders.
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2. VALR Cryptocurrency Selection
VALR features a diverse selection of cryptocurrencies, giving consumers access to a vast array of digital assets.
This diversity is unquestionably one of the platform’s assets, as it enables traders to investigate alternative investment opportunities beyond Bitcoin and Ethereum.
The incorporation of lesser-known altcoins and tokens offers consumers diversification options and the possibility of higher returns.
VALR offers support for a diverse selection of cryptocurrencies, allowing users to trade, purchase, and sell the following digital assets:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Solana (SOL)
- Binance Coin (BNB)
- Avalanche (AVAX)
- Shiba Inu (SHIB)
- USD Coin (USDC)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
- Cardano (ADA)
- Chainlink (LINK)
- Polkadot (DOT)
- EOS (EOS)
- Polygon (MATIC)
- Tezos (XTZ)
- Stellar (XLM)
- Dogecoin (DOGE)
- Algorand (ALGO)
- Filecoin (FIL)
- Cosmos (ATOM)
- Dash (DASH)
- Compound (COMP)
- Decentraland (MANA)
- Yearn.finance (YFI)
- Maker (MKR)
- Uniswap (UNI)
- SushiSwap (SUSHI)
- Aave (AAVE)
- VeChain (VET)
- Theta (THETA)
- Tron (TRX)
- Kusama (KSM)
- Waves (WAVES)
- Polymath (POLY)
- Ocean Protocol (OCEAN)
- Golem (GNT)
- Siacoin (SC)
- Icon (ICX)
- Ontology (ONT)
- Ren (REN)
- RenBTC (RENBTC)
- Band Protocol (BAND)
- Orchid (OXT)
- DAI (DAI)
- OMG Network (OMG)
- Enjin Coin (ENJ)
- Qtum (QTUM)
- Loom Network (LOOM)
- StormX (STMX)
- Storj (STORJ)
- Status (SNT)
- 0x (ZRX)
- Augur (REP)
- iExec RLC (RLC)
- The Graph (GRT)
- Numeraire (NMR)
- Kyber Network (KNC)
- Balancer (BAL)
- Loopring (LRC)
The platform’s support for more than 60 cryptocurrencies is remarkable, making it one of the most comprehensive offerings on the African market. This extensive selection is appealing to traders who wish to investigate emergent projects or invest in specialised cryptocurrencies.
However, there are a few things to keep in mind.
Some users have expressed a desire for even more cryptocurrencies, including newer and more prominent tokens, to be added to the platform.
In order to remain competitive in the swiftly evolving cryptocurrency market, VALR must stay abreast of market trends and continuously expand its selection.
The extensive selection of cryptocurrencies offered by VALR provides diversification for traders interested in exploring various digital assets.
Nonetheless, the quality and popularity of some of these cryptocurrencies may vary, and users may have specific token preferences.
Essential to VALR’s continued success in serving its user base is keeping the selection current and responsive to market demands.
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3. VALR Trading Fees and Options
With VALR, there are no monthly fees, management fees, or cryptocurrency storage fees associated, making it a cost-effective option for consumers.
Customers have praised the free deposits for ZAR and cryptocurrencies, which make it convenient and inexpensive to finance their accounts, as well as the free auto-enabled rapid withdrawals to Standard Bank, which are regarded as a practical feature.
Customer reviews frequently highlight the competitive trading fees, in particular the negative maker fees in USD and ZAR pairs, which encourage liquidity providers.
However, some users have noted that the brokerage margin for “Simple Swaps” (0.85%) and Auto-Buy (0.75%) for ZAR is relatively costly compared to other cryptocurrencies platforms like Bybit and Revix, which could be viewed as a disadvantage.
4. VALR Deposits And Withdrawal
A brief summary of VALR deposits fees are listed below:
VALR Deposit fees:
- ZAR deposit via EFT: FREE ( deposit in South African rand)
- ZAR deposit via Card: 3.9%
- Crypto deposits: FREE
- USDC via USD wire transfer: 0.13%
VALR Withdrawal Fees:
- ZAR Normal Withdrawals: 30 FREE withdrawals per month, R8.50 thereafter
- Crypto withdrawals: Variable
VALR’s withdrawal fees can vary depending on the specific cryptocurrency you wish to withdraw. The withdrawal fee is not a fixed amount but is typically based on the network fees associated with processing the transaction on the respective blockchain.
To find the exact withdrawal fee for a particular cryptocurrency, you can follow these steps:
- Log in to your VALR account.
- Navigate to the withdrawal or “Send” section, where you would initiate a withdrawal.
- Select the cryptocurrency you want to withdraw.
- Enter the withdrawal amount and recipient address.
- VALR should display the withdrawal fee before confirming the transaction. This fee can vary based on the cryptocurrency’s current network congestion and transaction costs.
And for Fast Withdrawal for Rands on the VALR platform, see below:
- To Standard Bank: Auto-enabled & FREE
- To RTC and other banks : R30
VALR Exchange Buy & Sell
- Trading fee – USDC Pairs (e.g., BTC/USDC)
- Makers: -0.01% (VALR pays you)
- Takers: 0.03%
- Trading fee – ZAR Pairs (e.g., BTC/ZAR)
- Makers: -0.01% (VALR pays you)
- Takers: 0.1%
VALR Simple Buy/Sell
- Brokerage margin
- 0.1% for crypto-to-crypto pairs
- 0.75% for ZAR to BTC, ETH, XRP, SOL, or USDC pairs
- 0.85% for ZAR to other cryptos (Simple Swaps)
- Brokerage margin: 0.75% per trade
- Payment processing fee: FREE
VALR provides competitive trading fees, particularly with negative maker fees in USD and ZAR pairs and a structure that rewards liquidity providers.
Free deposits, particularly for cryptocurrencies, encourage account funding without incurring additional fees.
The clear fee structure with no hidden monthly or storage fees enhances trust and transparency while the Auto-enabled rapid withdrawals to Standard Bank are a convenient feature for users of the same financial institution.
The 3.9% fee on ZAR card deposits is relatively excessive, discouraging users from employing this deposit method. On the other hand, cryptocurrency withdrawal fees continue to vary based on network activity and specific cryptocurrencies, which could result in unpredictable costs.
The brokerage margin for “Simple Swaps” (0.85%) and “Auto-Buy” (0.75%) has been perceived as somewhat excessive by users, particularly those who trade ZAR for other cryptocurrencies frequently.
Although, it is evident that VALR endeavours to provide trading fees that are competitive and transparent, some fees, such as card deposits and certain withdrawal fees, could be seen as less favourable by users seeking to minimise transaction costs.
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5. VALR Security Measures
Security is a fundamental aspect of VALR’s platform, as evidenced by its commitment to regulatory compliance and use of cold storage for cryptocurrencies. Offline and geographically dispersed, cold storage is widely regarded as an effective safeguard against online threats such as malware and cyberattacks.
The platform’s emphasis on complying with South African financial regulations demonstrates its commitment to operating within the legal framework, assuring users that their cryptocurrency transactions are legitimate.
This compliance-focused approach is consistent with industry best practices, as regulatory compliance is essential in the swiftly evolving cryptocurrency landscape.
Compliance with regulations and the use of cold storage for cryptocurrencies contribute to VALR’s commendable security posture. Positive customer feedback confirms that platform users have faith in its security measures.
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6. VALR Trading Volume and Popularity
Since its inception in 2019, VALR’s trading volume and popularity have shown encouraging signals, as it has gradually garnered traction on the cryptocurrency market.
In November 2022, VALR reported a significant trading volume of over “$480 million or R8 billion,” indicative of its expanding user base and prospering cryptocurrency exchange.
In addition, reports indicate a significant increase in the number of unique monthly visitors to VALR.com, which now exceeds 110,000. This upward trend indicates a growing user base and increased interest in the platform.
Today, VALR claims “half a million retail customers and over 800 corporate and institutional clients from across the globe,” in a diverse user base, comprised of retail and institutional clients.
Nevertheless, it is crucial to recognise that VALR’s trading volume and popularity are contingent upon its regional context. Despite being the largest cryptocurrency exchange in South Africa, its global standing varies considerably.
The trading volume and popularity of VALR have been on the rise, bolstered by remarkable trading figures and a diverse user base.
Nonetheless, a more comprehensive evaluation would involve contextualising its performance within the landscape of global cryptocurrency exchanges.
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7. VALR Partnerships and Integrations
As emphasised in its product overview and organic customer feedback, VALR’s partnerships and integrations play a crucial role in expanding its services and augmenting its offerings.
The collaboration between VALR and Standard Bank to provide consumers with a fiat on-ramp and off-ramp service is notable.
This integration with traditional banking services is a major benefit for users, as it facilitates the process of converting between cryptocurrencies and fiat currency, thereby removing a common obstacle in the cryptocurrency industry.
Users appreciate the ease of transferring funds between their bank accounts and the VALR platform, according to customer feedback, so this partnership has been well received.
Another noteworthy integration is VALR’s introduction of VALR Pay, which allows users to make payments in cryptocurrencies like Bitcoin.
When analysing customer feedback, it becomes clear that VALR Pay is an exceptional feature. This feature enables users to make instant, free payments in cryptocurrencies or South African Rand (ZAR) to beneficiaries identified by their mobile phone numbers, email addresses, or VALR Pay IDs.
VALR highlights its strategic alliance with CryptoConvert, a partnership that enables VALR payments at all Pick n Pay cashier terminals in South Africa.
This partnership effectively enhances the utility of VALR Pay by enabling users to use Bitcoin to purchase products and services at Pick n Pay, one of the largest supermarket chains in sub-Saharan Africa.
Despite the fact that these partnerships and integrations are commendable, it is necessary to examine their profundity and impact on fees and transaction times
The partnerships and integrations of VALR are crucial to expanding its services and enhancing user experiences.
The collaboration with Standard Bank and the introduction of VALR Pay are noteworthy accomplishments that have received positive user feedback.
It is crucial to note, however, that the sustained adoption of VALR Pay may depend on broader industry efforts to promote cryptocurrency acceptability among a broader range of merchants, a factor that is beyond VALR’s control.
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8. VALR Staking Service
The VALR Staking Service is a notable addition to its platform, allowing users to earn rewards through the staking of particular crypto assets.
Users value the capacity to passively earn rewards on their crypto holdings, and particularly noteworthy is the appreciation for VALR’s incorporation of staking options for Solana (SOL) and Avalanche (AVAX), both well-regarded and prospective blockchain projects.
VALR highlights an annual percentage rate (APR) of up to 5.9% on select crypto assets, illustrating the potential for users’ holdings to increase over time.
Moreover, VALR emphasises that staking on its platform is conducted on Proof-of-Stake blockchains, which are known for their energy efficacy in comparison to Proof-of-Work blockchains like Bitcoin.
The VALR Staking Service aligns flawlessly with the platform’s commitment to competitive fees and provides users with a way to collect rewards via designated crypto assets.
There is room for development, including diversifying the range of staking assets and providing more comprehensive educational support for those interested in staking, according to user sentiment.
Watch this video about the 5 years journey of VALR ( and their accomplishments)!!
9. VALR Supported Countries and Global Reach
Global Reach and expansion are crucial factors to consider when evaluating a cryptocurrency exchange, and VALR’s approach to these factors is exemplified by the fact that the platform accepts users from nearly every country.
This approach is well-received by the cryptocurrency community, as it demonstrates VALR’s dedication to servicing international clients.
In addition, the lack of various fees, such as monthly charges and cryptocurrency storage fees, contributes to VALR’s appeal to a global audience.
Nevertheless, there are limitations based on international sanctions lists and regulatory environments. Currently, VALR cannot offer its services to citizens of the following nations:
- Bosnia and Herzegovina
- Democratic Republic of the Congo
- North Korea
- South Sudan
- United States
If your country of residence is not on this list, you should be able to use VALR’s services for trading cryptocurrencies and related activities.
Despite the fact that restrictions on some countries are frequently beyond the control of the exchange, they may pose obstacles for prospective users in these regions.
However, VALR is actively pursuing opportunities for expansion beyond its current scope. The company summary mentions the exchange’s authorization to offer crypto services in Europe, signifying its intent to expand into additional jurisdictions.
Moreover, ongoing efforts to obtain licences in Dubai, Mauritius, and South Africa demonstrate VALR’s dedication to expanding its operations and increasing its global accessibility to users.
Based on evidences from various sources, VALR’s global reach and expansion efforts demonstrate its commitment to serving a diverse international user base.
While regulatory restrictions limit access in some regions, ongoing expansion efforts demonstrate VALR’s resolve to surmount obstacles and extend its services to a larger audience within the cryptocurrency ecosystem.
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How To Buy Bitcoin On VALR
To buy Bitcoin on VALR, you have two options: Simple Buy/Sell and Exchange Buy/Sell.
1. Simple Buy/Sell (For Beginners)
To implement this and buy bitcoin on VALR, follow the steps highlighted below:
- Log in to your VALR account
- Click on “Explore markets.”
- Choose Bitcoin
- Enter the amount of South African Rand (ZAR) or other cryptocurrency you want to spend
- Review your buy/sell order
- Confirm your buy/sell order.
2. Exchange Buy/Sell (For Advanced Traders)
The VALR exchange is designed for advanced trading of Bitcoin with South African Rand (ZAR). This option allows users to set a specific price for buying or selling Bitcoin, rather than using the current market price.
Exchange orders may not be filled instantly as they represent offers on the order book. To complete a transaction, someone else must accept your offer to buy or sell the Bitcoin listed on the order book.
What is the minimum deposit for VALR?
As a cryptocurrency exchange, VALR typically does not require a traditional minimum deposit like a bank. Instead, the minimum deposit sum varies based on the cryptocurrency being deposited.
To deposit Bitcoin (BTC) into your VALR account, for instance, you would need to transmit at least the equivalent of a fraction of a Bitcoin (e.g., 0.001 BTC or more).
The minimum deposit amount can vary for different cryptocurrencies, so it’s essential to consult VALR’s official website or contact their customer support for precise information on the minimum deposit requirements for the specific cryptocurrency you plan to deposit.
In addition, some deposit methods may have associated fees, so it’s a good idea to review these details.
Which Bank is Used by VALR?
Towards the end of February 2020, VALR shifted from utilising First National Bank (FNB) and Standard Bank as its banking associates to exclusively utilising Standard Bank’s services.
Therefore, you should only make deposits to VALR’s Standard Bank account if you intend to do so.
VALR Review: Final Assessment
Mamzansi’s comprehensive review of VALR, the South African cryptocurrency exchange, reveals a platform that has made significant strides in the world of digital assets. Through an in-depth analysis incorporating both customer feedback and the product overview, we’ve assessed various facets of VALR, shedding light on its strengths and areas with room for growth.
Before rendering a verdict, let’s explore VALR’s main advantages and disadvantages to shed light on what makes it a compelling option and what may leave some users wanting more.
Pros of VALR Cryptocurrency Platform
1. User-Friendly Interface
VALR offers a user-friendly and uncomplicated interface, making it accessible to both novice and experienced traders. The intuitive design enhances the user experience as a whole.
2. Extensive Cryptocurrency Selection
VALR boasts a wide range of over 50 cryptocurrencies for trading, providing users with ample options to diversify their portfolios and explore various digital assets.
3. Competitive Trading Fees
VALR’s fee structure is designed to be transparent and competitive. Zero-fee trading for makers is a notable advantage, reducing costs for traders.
4. Security Measures
The platform places a strong emphasis on security, employing multiple layers of protection and adhering to regulatory standards. User feedback generally reflects trust in VALR’s security practices.
5. Real-World Usability
VALR’s partnership with CryptoConvert and Pick n Pay allows users to make payments in cryptocurrency for everyday goods and services. This integration bridges the gap between digital assets and traditional commerce.
6. Global Accessibility
VALR accepts international customers from nearly all countries worldwide, demonstrating its commitment to serving a global user base.
7. Staking Service
VALR’s staking service enables users to earn rewards on select crypto assets, aligning with its ethos of competitive fees and offering a passive income opportunity.
8. Payment Features (VALR Pay)
VALR Pay facilitates instant payments in crypto or South African Rand (ZAR) to any cell phone number, email address, or VALR Pay ID, enhancing the convenience of everyday transactions.
9. Regulatory Compliance
It is safe to emphatically say that VALR is trustworthy, safe, legit and not scam. The company adhered to financial regulations in South Africa , fully registered with registration Number 2018/211274/07 and they have more than 101,000 users who trusted the platform with their money.
VALR also received approval for crypto services in Europe, indicating a commitment to regulatory compliance.
10. Growing Popularity
VALR’s trading volumes have demonstrated steady growth, attracting an increasing number of users and contributing to its prominence in the cryptocurrency exchange space.
11. Transparent Fees
VALR does not charge monthly fees, management fees, or cryptocurrency storage fees, providing users with clarity and cost-efficiency.
12. Ongoing Expansion
The platform’s expansion efforts, including securing licenses in new jurisdictions, show a dedication to serving an increasingly global user base.
13. VALR Pay Integration
The VALR Pay feature enhances the practicality of cryptocurrencies in everyday life, allowing users to pay for groceries, bills, and more using digital assets.
14. Positive Feedback
Customer reviews generally express satisfaction with VALR, highlighting its ease of use, transparent fee structure, and robust security measures.
Collectively, these benefits make VALR an appealing option for individuals and merchants interested in cryptocurrencies, and they contribute to the exchange’s growing reputation in the cryptocurrency exchange industry.
Cons of VALR Cryptocurrency Platform
1. Limited Cryptocurrency Withdrawal Information
Some users have mentioned that information regarding cryptocurrency withdrawal fees is not readily available on the platform. Cryptocurrency withdrawal fees can be variable and network-dependent. This variability may lead to uncertainty for users, as fees can change based on factors such as blockchain network activity and the specific cryptocurrency being withdrawn.
2. Limited Staking Asset Selection
While VALR’s staking service is generally praised, it currently offers staking for a limited selection of crypto assets (Solana and Avalanche).
3. Limited VALR Pay Merchant Adoption
The utility of VALR Pay depends on merchant adoption. While it’s integrated with Pick n Pay, its broader acceptance by merchants across various industries could be a challenge. The success of VALR Pay may be influenced by the prevalence of cryptocurrency acceptance among merchants beyond the initial partnership.
4. Restricted Access in Some Countries
VALR is unable to serve residents of countries on international sanctions lists and regions with restrictive cryptocurrency regulatory environments. While this is not within VALR’s control, it could be limiting for potential users in those areas.
5. Limited iOS Support for VALR Pay
At the time of assessment, VALR Pay was initially available on Android devices, with iOS support expected to be rolled out later. Although this issue is expected to be resolved, it temporarily restricts access for iOS users.
6. Limited Educational Resources
While VALR offers a user-friendly interface, some users may benefit from more extensive educational resources, especially for complex features like staking.
7. Dependence on Partner Banks
VALR’s banking partnerships, particularly with Standard Bank, are crucial for deposit and withdrawal processes. Any issues or disruptions with these partner banks could impact users’ ability to transact on the platform.
Notably, some of these disadvantages are inherent to the cryptocurrency industry as a whole, while others represent areas where VALR could be improved. When utilising the platform, users should perform their due diligence and consider these factors.
In conclusion, VALR is a credible cryptocurrency exchange that is trustworthy, legit and can be trusted; with an expanding presence on the South African and international markets. The importance of trustworthiness is underscored by VALR’s commitment to security and compliance.
While there are areas for development, such as expanding the selection of cryptocurrencies and enhancing customer service, VALR’s overall trajectory is one of expansion and innovation.
It provides a compelling platform for users interested in interacting with cryptocurrencies, and with ongoing enhancements, it has the potential to solidify its position as a reputable participant in the cryptocurrency exchange market.