Valr Review 2024

Autor

Revisor

Last update: 4 months ago

Our veredict

VALR, a South African cryptocurrency exchange, presents a robust platform for both newcomers and experienced traders in the crypto market. It stands out for its wide range of supported cryptocurrencies and competitive trading fees, making it an appealing choice for those looking to diversify their portfolio with digital assets. The exchange is also recognized for its strong security measures, which include cold storage of assets, two-factor authentication, and compliance with local financial regulations, enhancing user trust.

However, despite its many strengths, VALR faces challenges in terms of global reach and fiat currency support. The platform primarily supports the South African Rand, which may limit its usability for international traders not looking to engage with ZAR. Moreover, while the exchange offers a user-friendly interface, the customer service response times can be slow, which might affect user experience during critical trading periods or support needs.

Pros

Cons

3,8

Threenvest Score

Fees

-0,01%/0,10%

U.S Legal

With the confidence of Threenvest

Strong Security Measures: VALR employs robust security protocols including cold storage of assets, two-factor authentication, and secure encryption technologies to ensure user funds are protected against unauthorized access.

Compliance with Local Regulations: As a South African exchange, VALR adheres to local financial regulations and guidelines, which bolsters its credibility and reliability as a trustworthy platform in the eyes of both users and regulators.

High Trading Volume and Liquidity: VALR supports a high trading volume and offers substantial liquidity, making it easier for users to enter and exit positions, which is especially beneficial for traders looking to execute large volume trades.

Reputation and Reviews: Since its launch, VALR has built a solid reputation within the cryptocurrency community. Positive user reviews often highlight its user-friendly interface, range of supported cryptocurrencies, and responsive customer support.

Year Founded: Established in 2018, VALR has rapidly grown to become one of the leading exchanges in South Africa, demonstrating strong market resilience and continuous adaptation to user needs and technological advancements.

Best Crypto Exchanges

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About Valr

VALR is a South African-based cryptocurrency exchange that has garnered attention for its comprehensive approach to digital asset trading. Launched with a vision to bridge the gap between traditional financial paradigms and the new digital economy, VALR supports a broad spectrum of cryptocurrencies and provides a secure, user-friendly platform for both novice and experienced traders.

What is VALR?

VALR is a digital asset platform that enables the buying, selling, and trading of cryptocurrencies. It is designed to cater to the needs of a diverse user base, offering features that facilitate easy entry into the crypto market for beginners, as well as advanced tools for seasoned traders.

Background and History

Founded in 2018, VALR was established to simplify the process of trading digital currencies while ensuring high standards of security. The exchange has quickly risen to prominence within the South African cryptocurrency community due to its robust security measures and a wide array of supported cryptocurrencies.

Founders

The exchange was co-founded by Farzam Ehsani, a former blockchain lead at Rand Merchant Bank, and has since attracted a team of experts in finance, technology, and compliance. Ehsani’s leadership is supported by a vision to make financial services more inclusive and efficient through blockchain technology.

Fun Fact

One interesting aspect of VALR is its partnership with Bittrex, a leading global blockchain platform. This partnership enhances VALR’s platform with secure trading technology and a wide network of cryptocurrency pairs, solidifying its position in the global market.

Why Choose Valr?

Choosing VALR as your cryptocurrency exchange comes with several significant advantages. Firstly, the platform offers a wide range of cryptocurrencies, which is ideal for traders looking to explore diverse investment options. Additionally, VALR’s competitive trading fees make it an attractive option for both high-volume traders and beginners seeking to minimize costs. The user interface is specifically designed to be navigable and intuitive, ensuring that even those new to cryptocurrencies can trade comfortably.

Secondly, VALR places a strong emphasis on security, incorporating multiple layers of protection including cold storage of assets, two-factor authentication, and compliance with stringent local financial regulations. This focus on security builds a high level of trust with its users and safeguards investments against potential threats.

Lastly, VALR’s commitment to compliance with local financial laws not only enhances its reliability but also ensures that it operates within the bounds of financial legality, reducing risks for its users. This adherence to regulations, coupled with its robust security measures and user-friendly environment, makes VALR a wise choice for anyone looking to venture into the cryptocurrency market.

Where it falls short

Two of VALR’s most notable weaknesses are its limited global fiat currency support and slower customer service response times. These areas, while not detrimental, could be improved to enhance the overall user experience and broaden its market appeal. Firstly, VALR’s primary support for the South African Rand (ZAR) restricts its utility for international traders who may prefer to transact in other major currencies such as USD, EUR, or GBP. Expanding its fiat currency support would not only attract a wider global audience but also facilitate easier entry and exit for international investors looking to engage in the African cryptocurrency markets.

Secondly, the reported slow response times of customer support can be a critical issue, especially in a fast-paced trading environment where timely assistance can be crucial. Improving response times and perhaps adding more support channels or enhancing the efficiency of existing ones could significantly improve user satisfaction and trust in the platform, especially during high traffic periods or in urgent situations.

Features	Explanation
Minimum Trade	VALR allows relatively low minimum trades, making it accessible for beginners to start trading without requiring large initial investments.
Trading and Transaction Fees	One of VALR’s strongest features is its competitive fee structure, which ranks among the lowest in the industry, benefiting all types of traders.
Number of Cryptocurrencies	The exchange offers a wide selection of cryptocurrencies, providing ample opportunities for diversification.
Crypto-to-Crypto Trading Pairs	VALR supports a broad range of trading pairs, allowing users to trade directly between various cryptocurrencies without needing to convert to fiat.
Website Transparency	While VALR generally provides clear information, some users might find details regarding certain policies and operational procedures could be better highlighted.
Credit/Debit Card	The VALR card integrates seamlessly with the exchange, providing convenient access to funds and attractive rewards, enhancing the overall utility of the platform for everyday transactions.
Storage Offering	VALR offers secure storage options including cold storage, ensuring high security for stored digital assets.
Staking and Rewards	The platform provides competitive staking options and rewards, making it attractive for users looking to earn passive income.
Mobile App and Desktop	VALR offers both mobile and desktop platforms that are user-friendly and feature-rich, facilitating trading on-the-go as well as from a desktop setup.
Customer Service	While available, customer service response times can be slow, which might frustrate users, especially those needing urgent support.
Deposit and Withdraw	Deposits and withdrawals are facilitated smoothly, but improvements can be made in terms of speed and the variety of supported currencies and methods.

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert reviewer on our website, I highly recommend VALR for anyone entering the cryptocurrency market in South Africa. The platform’s wide array of cryptocurrencies paired with some of the most competitive fees in the market makes it a top choice. However, if you’re trading from outside of South Africa or require swift customer support, you might want to consider these aspects before deciding.

Fees

VALR’s commission structure is designed to be competitive and attractive to both novice and experienced traders. The exchange employs a tiered fee system where the trading fees decrease as the user’s monthly trading volume increases. This incentivizes higher trading volumes while maintaining affordability for smaller traders. Fees for typical trades start relatively low, with further reductions possible depending on the trade volume and currency pairs being traded. Additionally, VALR occasionally runs promotions that temporarily reduce fees or offer rebates, enhancing the trading experience.

Pros

Competitive Tiered Fee System: VALR offers a tiered commission structure, rewarding high-volume traders with lower fees, which can significantly reduce trading costs over time.
Incentives for Increased Trading Volumes: As users increase their trading activity, they benefit from progressively lower trading fees, encouraging more frequent trading and liquidity.
Regular Promotional Discounts: The exchange often introduces promotional periods during which trading fees are further reduced, making it an even more cost-effective option.

Cons

Complexity for Beginners: The tiered structure, while beneficial for active traders, can be complex and daunting for new users unfamiliar with how trading volumes affect commission rates.
Higher Base Rates for Low Volumes: Traders with lower trading volumes face higher base rates, which might be less attractive compared to flat-rate fee structures offered by other platforms.

Product selection

VALR offers a diverse array of services and products tailored to meet the needs of both novice and experienced cryptocurrency traders. The platform provides a comprehensive trading experience with features like direct fiat-to-crypto purchases, crypto-to-crypto trading, and advanced order types. Additionally, VALR supports staking, allowing users to earn rewards on their cryptocurrency holdings. The inclusion of a mobile app ensures that users can trade and manage their portfolios from anywhere, enhancing convenience and accessibility.

Pros

Cons

Read more about product selection in Valr

VALR provides a wide range of services and products designed to meet the needs of a diverse user base, from cryptocurrency newcomers to seasoned traders. Here’s an extensive overview of what VALR offers:

Leveraged Tokens and Futures: VALR allows traders to engage in leveraged trading through leveraged tokens and futures contracts, offering a way to potentially increase returns on investment through borrowed funds.
Debit Card: The platform offers a crypto-linked debit card, enabling users to spend their cryptocurrency holdings easily in everyday transactions.
Mobile App: VALR’s mobile application is comprehensive, supporting all trading features and wallet functionalities, ensuring users can trade and manage their accounts from anywhere.
Own Cryptocurrencies and Network: While VALR primarily focuses on popular cryptocurrencies, it also supports unique tokens and may engage in network partnerships that enhance its ecosystem.
Financial Products: The exchange offers a variety of financial products including spot trading and futures, providing traders with multiple ways to engage with the market.
Launchpad: VALR provides a launch platform for new tokens and projects, giving users early access to upcoming cryptocurrencies.
EARN and Staking: Users can participate in staking programs through VALR’s EARN feature, allowing them to earn interest on their idle crypto assets.
Loans: Crypto-backed loans are available, offering users liquidity without the need to sell off their holdings.
Liquid Swap: This feature allows for instant token swaps at market rates, with liquidity provided by other users.
Promotions and Referral Codes: VALR frequently runs promotional campaigns and offers referral incentives, adding extra value for its users.
Tournaments: The platform occasionally hosts trading tournaments, offering prizes and incentives to encourage competitive trading.
Demo Account: For those new to trading, VALR offers a demo account where users can practice trading without financial risk.
Wallet: A secure digital wallet is provided for users to store, send, and receive cryptocurrencies.
Derivatives: In addition to traditional trading, VALR offers derivatives trading, allowing for speculation on price movements without owning the underlying assets.
Research and Education: The platform offers resources for learning about cryptocurrencies and trading techniques, which is beneficial for both beginners and experienced traders.
API and Trading View: Advanced users and developers have access to APIs for automated trading and integration, along with Trading View charts for in-depth market analysis.
Yielding Pools and Bonus Deals: Users can participate in yielding pools for specific cryptocurrencies and take advantage of periodic bonus deals.

These services and products make VALR a versatile platform catering to various aspects of the cryptocurrency market, designed to enhance user experience and provide multiple avenues for investing and trading.

Account opening

Opening an account with VALR is a straightforward and streamlined process designed to be accessible for users at all levels of experience. Initially, new users must complete a standard registration form that requires basic personal information. Following registration, VALR requires identity verification (KYC) to comply with financial regulations, which involves submitting documents such as a government-issued ID and proof of address. This step ensures a secure trading environment for all users. Once verified, users can immediately begin funding their account and trading across a wide range of cryptocurrencies. The platform’s commitment to security and regulatory compliance is evident throughout the account setup process, providing new users with a reassuring sense of trust and safety.

Pros

Cons

How to Sign Up on VALR

Visit the VALR Website: Start by navigating to the VALR website and clicking on the ‘Sign Up’ button.
Enter Your Details: You will need to provide your email address, create a password, and enter other personal information such as your name and date of birth.
Email Verification: Verify your email address through the link sent to your registered email to proceed with the setup.

Opening An Account

Complete KYC (Know Your Customer) Process: Upload a government-issued ID and a proof of address. VALR may also require a selfie to ensure that the ID belongs to the person creating the account.
Wait for Verification: The KYC process can take from a few hours to a couple of days, depending on the volume of sign-ups being processed.

How to Buy Your First Cryptocurrency

Fund Your Account: Once your account is verified, you can deposit funds using supported methods like bank transfer or credit card.
Navigate to Trading Interface: Select the cryptocurrency you wish to buy and enter either the amount of fiat currency you want to spend or the amount of cryptocurrency you want to purchase.
Execute the Trade: Confirm the details and execute your trade. The purchased cryptocurrency will appear in your account balance.

Account Types

VALR offers different types of accounts, including basic accounts with lower transaction limits and advanced accounts that allow higher volume trading. These account types are based on the level of KYC documentation provided.

How to Use VALR?

Using VALR involves navigating its user interface, which is designed to be intuitive. Users can access various features such as market viewing, trading, and managing portfolios directly through the dashboard.

Registration and KYC

It’s important for users to accurately complete the KYC to comply with regulatory requirements and ensure the security of the trading environment. By following these steps, users can successfully set up their VALR account and start trading. Remember, it’s important to understand the security features and ensure that all personal information is accurate and secure.

Security

VALR prioritizes the security of its users’ assets and personal information, employing a variety of robust measures to safeguard its platform. The exchange utilizes cold storage for the majority of its digital assets, significantly reducing the risk of theft from online hacks. Additionally, VALR enforces two-factor authentication (2FA) for all transactions and changes to account settings, adding an extra layer of security. Continuous monitoring and regular security audits are conducted to ensure that the platform’s defenses remain impervious to new threats. This comprehensive security framework aims to create a secure trading environment where users can confidently conduct their transactions.

Pros

Cons

Is VALR Legit?

VALR is widely recognized as a legitimate cryptocurrency exchange, compliant with South African financial regulations. This compliance adds a layer of reliability and trust, assuring users that the platform operates under strict legal and ethical standards.

Regulation and Licensing

VALR adheres to local regulations and has secured the necessary licensing to operate legally within South Africa. This regulatory oversight ensures that VALR maintains high operational and financial standards, which are critical for user protection.

Is VALR Safe?

Security at VALR is robust, utilizing multiple strategies to ensure the safety of user funds and data:

Cold Storage: A significant portion of digital assets are stored offline, reducing the risk of theft from online breaches.
Two-Factor Authentication (2FA): Required for all transactions and sensitive account actions, providing an additional security layer beyond just the username and password.
Continuous Monitoring: The platform is monitored round the clock to detect and respond to suspicious activities swiftly.

Security Methods

In addition to the above measures, VALR employs encryption technologies to secure users’ data and regularly updates its systems to guard against emerging security threats. The exchange also encourages users to follow best security practices, such as using strong, unique passwords for their accounts.

History of Security

Since its inception, VALR has maintained a strong security record with no major incidents, underlining its commitment to safeguarding user assets and information. Conclusion: VALR’s comprehensive security measures make it one of the safest cryptocurrency exchanges in the market today. By continuously investing in advanced security technologies and strict compliance with regulatory standards, VALR provides a secure environment for cryptocurrency trading. If there were ever concerns about its safety, these would likely stem from broader market risks associated with trading cryptocurrencies, rather than shortcomings in VALR’s operational security.

Customer service

VALR provides a customer service experience that aims to support its users efficiently and effectively. The platform offers various channels through which customers can seek help, including email support, a comprehensive FAQ section, and a live chat feature. This accessibility ensures that users can find help whenever they need it. Moreover, VALR’s customer service team is known for its knowledgeable support staff, equipped to handle a wide range of issues from technical troubleshooting to account inquiries. However, despite these provisions, response times can vary, sometimes leading to delays in resolving user queries, especially during peak trading times. Overall, VALR strives to maintain high standards in customer support to enhance user satisfaction and platform reliability.

Pros

Cons

Read more about customer service in Valr

VALR’s customer service is designed to address the needs of its diverse user base, ensuring that both novice and seasoned traders can receive assistance when required. Here’s a detailed exploration of VALR’s customer support features and offerings:

Customer Support

VALR provides a range of customer support options to ensure users can find help efficiently:

Email Support: For detailed inquiries, users can contact VALR via email, where they can expect thorough responses to their queries.
Live Chat: Available directly on the platform for real-time assistance, live chat is ideal for immediate help with trading issues or account problems.
FAQ Section: For self-help, VALR’s comprehensive FAQ section covers a wide range of topics, from account management to trading specifics.

Reputation and Customer Feedback

The general feedback from users regarding VALR’s customer service is positive, particularly praising the knowledgeable support staff. However, there are occasional reports of delays in response times, especially during periods of high demand, such as market surges or downtimes.

Contact Methods

VALR emphasizes accessibility through multiple contact methods:

Direct Calls: For urgent matters, direct calls can be made during business hours.
Social Media: VALR maintains an active presence on platforms like Twitter and Facebook, where users can reach out for less urgent support or updates.

Response Time

While VALR generally provides timely responses, the speed can vary:

Immediate to a Few Hours: For live chat and social media during working hours.
Up to 24 Hours: For email inquiries, depending on the complexity of the issue.

Additional Support Insights

VALR also encourages user education to prevent common issues. They offer guides and tutorials on how to use the platform and manage security settings effectively, which can reduce the frequency of user errors and related support queries. By maintaining a multi-faceted customer support approach, VALR aims to enhance user experience and ensure platform reliability. However, it is essential for VALR to continue improving its response times and consistency in service quality to fully meet user expectations and maintain its reputation in the competitive cryptocurrency exchange market.

Is VALR Right for You?

–

Valr compared to other crypto exchanges

Threenvest score

3,8

Fees

-0,01%/0,10%

US Legal

Security

High 4,6/5

On the exhange website

Threenvest score

4,7

Fees

0,10%

US Legal

Yes

Security

High 4,9/5

crypto.com

Threenvest score

4,9

Fees

US Legal

Yes

Security

High 4,9/5

Available cryptocurrencies and countries available

–

Main cryptocurrencies available

Bitcoin (BTC)
Ethereum (ETH)
Ripple (XRP)
Litecoin (LTC)
Binance Coin (BNB)
Solana (SOL)
Chainlink (LINK)
Bitcoin Cash (BCH)
Stellar (XLM)
Uniswap (UNI)
Aave (AAVE)
Cosmos (ATOM)
Monero (XMR)
Dash (DASH)
Zcash (ZEC)
Tezos (XTZ)
Algorand (ALGO)
Maker (MKR)
Compound (COMP)
VeChain (VET)

Main countries where you can open an account

South Africa
Namibia
Botswana
Kenya
Nigeria
Ghana
Uganda
Zambia

FAQs

What cryptocurrencies can I trade on VALR?

You can trade a variety of cryptocurrencies on VALR, including major ones like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP), along with a selection of altcoins and emerging tokens, totaling around 100 different cryptocurrencies.

2. Is VALR available in my country?

VALR primarily services countries in Africa, including South Africa, Namibia, Botswana, and a few others. It is not available to residents of the USA, Canada, Japan, and certain other countries due to regulatory restrictions.

3. What are the trading fees on VALR?

VALR employs a tiered fee structure where trading fees decrease as your trading volume increases. Fees start competitively low, with further reductions available for high-volume traders.

4. How do I open an account with VALR?

To open an account, visit the VALR website and click on ‘Sign Up.’ Provide your email, set a password, and complete the KYC process by submitting the required documents. Once verified, you’re ready to deposit funds and start trading.

5. How does VALR ensure the security of my investments?

VALR uses cold storage for the majority of its digital assets, employs two-factor authentication for all transactions, and conducts regular security audits to ensure your investments are secure against unauthorized access.

6. Can I use fiat currency on VALR?

Yes, VALR supports fiat-to-crypto transactions. The primary fiat currency supported is the South African Rand (ZAR), which can be used to purchase various cryptocurrencies directly.

7. What should I do if I have a problem with my account?

If you encounter any issues, VALR’s customer service is accessible via email, live chat, and through a comprehensive FAQ section. For urgent issues, using the live chat feature during business hours is recommended for the fastest response.

Final opinion on Valr

Threenvest concludes that VALR offers a compelling service, particularly for traders within its operational base in South Africa and selected other African nations. Its strengths lie in a broad array of available cryptocurrencies and a competitive fee structure that benefits both high-volume and entry-level traders. This makes it an attractive option for a diverse clientele ranging from beginners to experienced traders. Additionally, VALR’s strong commitment to security, demonstrated through rigorous measures like cold storage, two-factor authentication, and regular audits, establishes it as a trustworthy platform in the volatile realm of cryptocurrency trading.

However, compared to other global exchanges, VALR’s geographical focus and limited fiat currency options might constrain its appeal to international traders who require broader currency support. Moreover, potential delays in customer service response times could pose challenges for users needing timely support. Despite these limitations, Threenvest recognizes VALR as a robust choice for users in its available regions, offering a user-friendly interface, educational resources for beginners, and advanced trading tools that stand up well against more established platforms. This blend of features ensures that VALR remains a competitive player in the growing African cryptocurrency market, making it a recommended option for users in its serviceable areas.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.