Comparison of Valr vs Simpleswap [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Valr vs Simpleswap comparison!

Your expert: Alejandro Borja

VALR

Valr

Your expert: Xavier Tarrasó

simpleswap

Simpleswap

Main points

Fees

-0,01%/0,10%

Earns

No

Customer service

4/5
≈ 1,20%/2%

Fees

No

Earns

3/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

No

Buy and hold

Yes
Yes

Beginners

No

Trading

No

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.0 – Competitive fees with strong local support in South Africa.
4.0 – Competitive fees with a focus on instant crypto swaps.

Level

-0,01%/0,10%
≈ 1,20%/2%

Brief explanation

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.
SimpleSwap’s commission structure is streamlined to cater primarily to crypto-to-crypto transactions. It charges a variable fee for each transaction, which typically ranges from 0.1% to 0.5% depending on the specific cryptocurrencies involved and market conditions. This fee is integrated into the exchange rate displayed at the time of the transaction, ensuring transparency. The platform does not impose additional fees for deposits or withdrawals in cryptocurrencies, which is a significant advantage for users looking to minimize costs. However, users should be aware of network fees determined by the blockchain of the cryptocurrency being used, which are not controlled by SimpleSwap but are necessary for processing the transactions on the respective networks.

Valr

Simpleswap

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Product selection

Native token

No
No

Earns

No
No

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

VALR Pty Ltd.
SimpleSwap Ltd

Regulation

Regulated in Sudáfrica
Not regulated

Year founded

2019
2018

Founder

Farzam Ehsani
Unknown

Payment methods

Transfers

Yes
No

Mastercard

Yes
No

Wire transfer

Yes
No

Card

Yes
No

Comparative table

Valr FEATURES Simpleswap
VALR allows relatively low minimum trades, making it accessible for beginners to start trading without requiring large initial investments.
Minimum Trade
SimpleSwap supports flexible trading with no minimum deposit, making it accessible for casual users and beginners to start trading with any amount.
One of VALR’s strongest features is its competitive fee structure, which ranks among the lowest in the industry, benefiting all types of traders.
Trading and Transaction Fees
The platform operates with a straightforward fee structure but lacks the transparency of detailed fee breakdowns that might benefit users looking for cost efficiency.
The exchange offers a wide selection of cryptocurrencies, providing ample opportunities for diversification.
Number of Cryptocurrencies
Offers a wide variety of over 300 cryptocurrencies, providing users with extensive options for trading different digital assets.
VALR supports a broad range of trading pairs, allowing users to trade directly between various cryptocurrencies without needing to convert to fiat.
Crypto-to-Crypto Trading Pairs
Supports numerous trading pairs, allowing for versatile crypto-to-crypto exchanges, though it could expand into more niche or emerging cryptocurrencies.
While VALR generally provides clear information, some users might find details regarding certain policies and operational procedures could be better highlighted.
Website Transparency
While the website is user-friendly, it could improve by providing more detailed information about the company’s background and operational logistics.
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.
Credit/Debit Card
SimpleSwap focuses solely on cryptocurrency exchanges and does not provide additional financial tools like an exchange card, limiting its utility for everyday transactions.
VALR offers secure storage options including cold storage, ensuring high security for stored digital assets.
Storage Offering
Provides secure storage options, though detailed information on security measures and storage capabilities could be more transparent.
The platform provides competitive staking options and rewards, making it attractive for users looking to earn passive income.
Staking and Rewards
Limited staking options and rewards are available, which could be enhanced to attract long-term investors.
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.
Mobile App and Desktop
Offers a functional mobile app that is efficient and convenient for trading on the go, although further enhancements could improve user experience and features.
While available, customer service response times can be slow, which might frustrate users, especially those needing urgent support.
Customer Service
Generally receives positive feedback for customer service, but could benefit from extended support hours and faster response times.
Deposits and withdrawals are facilitated smoothly, but improvements can be made in terms of speed and the variety of supported currencies and methods.
Deposit and Withdraw
Crypto deposits and withdrawals are supported, but the addition of fiat options and reduction of withdrawal fees would improve this feature.

Key features

Analysis tools

Basic charting tools
No trading tools, primarily a swap service

Mobile APP

No
No

Security

High 4,6/5
High 4,5/5

Additional features

Staking, fiat on/off ramps, VALR Earn, institutional services
Instant crypto swaps, SimpleSwap Earn, loyalty program

Anonymity

No
Yes

Key points

Available cryptocurrencies

50+
300+

User-friendliness

VALR offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.
SimpleSwap features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.

Value for money

Offers good value for money with competitive fees and strong local support in South Africa, making it a good choice for regional users.
Delivers good value for money with competitive fees and a straightforward swapping service, making it an easy option for quick trades.

Countries of operation

South Africa
Global, including United States, Canada, United Kingdom, Australia, Germany

Best for

Suitable for South African investors looking for a reliable platform with competitive fees and strong local support.
Best for traders looking for a straightforward and quick cryptocurrency swapping service with competitive fees.

Base currencies available

ZAR, BTC
BTC, ETH (varies by transaction)

Account

Trading

VALR is a popular exchange in South Africa, offering a user-friendly platform and easy fiat integration. It supports a good range of cryptocurrencies and competitive fees but lacks some advanced trading tools.
SimpleSwap is a non-custodial exchange known for its fast and anonymous transactions. It offers a wide range of cryptocurrencies but lacks advanced trading features and tools.

Deposit and withdrawal

VALR is popular in South Africa, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.
SimpleSwap is a non-custodial exchange known for its fast transactions. It supports various deposit methods, and withdrawals are processed quickly with low fees.

Account opening process

VALR provides a seamless and fully digital account registration process. Users need to submit personal details and verify their identity. The process is quick and usually takes less than a day to complete.
SimpleSwap offers an easy and quick account registration process. Users need to submit personal details and verify their identity. The process is fully digital and typically takes less than a day to complete.

KYC required?

Yes
No

Customer Service

VALR provides customer support via email and live chat. The support team is responsive and helpful, but the lack of 24/7 support may be a limitation for some users.
SimpleSwap offers customer support via email and live chat. The response time is quick, but the support team is not available 24/7, which may be a drawback for some users.

Security

VALR employs robust security features, including 2FA and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some investors.
SimpleSwap offers strong security with 2FA and encryption. Despite its robust security measures, the platform is not regulated by top-tier financial authorities, which could be a concern for some investors.

Which of these exchanges is for you?

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.
As an expert on cryptocurrency exchanges, I find SimpleSwap to be a commendable platform for those just starting with cryptocurrencies. Its straightforward and intuitive interface removes much of the complexity typically associated with crypto trading. This accessibility makes it an excellent choice for newcomers who might be overwhelmed by more advanced trading platforms. However, it’s important to note that while SimpleSwap excels in simplicity and ease of use, it may not fully satisfy the needs of more seasoned traders looking for advanced trading tools and features. For those just entering the crypto space, SimpleSwap offers a gentle introduction without the intimidating barriers to entry seen in other exchanges.

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.

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