Comparison of Valr vs Wirex [ 2024 ]

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

Your expert: Alejandro Borja

VALR

Valr

  • Threenvest valuation: 3,8/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

Wirex

Wirex

  • Threenvest valuation: 3,8/5
  • US legal: Yes
  • Security: High 4,6/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Main points

Fees

-0,01%/0,10%

Earns

No

Customer service

4/5
1%

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.
3.8 – Reasonable fees with additional benefits for cardholders.

Level

-0,01%/0,10%
1%

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.
Wirex’s fee structure is designed to encourage both the use of its native token and engagement with its broad range of services. The platform charges a clear, competitive trading fee of 1% for buying or selling cryptocurrencies, which is straightforward and easy to understand for all users. For crypto-to-fiat transactions, Wirex imposes a fee that includes a small percentage of the transaction amount plus a fixed nominal fee, which varies depending on the currency involved. This system allows users to manage their costs effectively by understanding the exact fees in advance, making financial planning simpler and more predictable. Wirex also incentivizes the use of its native WXT tokens by offering reduced fees, enhancing savings for regular users.

Valr

VALR
Read VALR review
  • 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.
  • Pros
  • Wide range of cryptocurrencies
  • Competitive trading fees
  • Strong security measures
  • Cons
  • Limited global fiat options
  • Slow customer support response

Read VALR review

Wirex

Wirex
Read VALR review
  • Security Methods: Wirex employs robust security measures including cold storage for funds, 2FA, and the latest encryption technology to protect user data and transactions.
  • Reputation and Reviews: Wirex has established a strong reputation in the cryptocurrency space, backed by positive reviews from users appreciating its ease of use, innovative features, and reliable customer service.
  • Regulation: As a principal member of Mastercard, Wirex adheres to strict regulatory standards, ensuring a secure and compliant environment for handling your digital and traditional currencies.
  • Customer Service: Wirex supports its users with a dedicated customer service team, providing help and guidance to ensure a smooth user experience across its platform.
  • Volume Managed and Liquidity: Wirex handles a significant volume of daily transactions, offering high liquidity which ensures that users can perform transactions efficiently and at competitive rates.
  • Pros
  • User-friendly interface
  • Crypto-backed Visa card
  • Multi-currency support
  • Cons
  • High foreign exchange fees
  • Limited customer support

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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.
Wirex Limited

Regulation

Regulated in Sudáfrica
Regulated in the Reino Unido

Year founded

2019
2014

Founder

Farzam Ehsani
Pavel Matveev and Dmitry Lazarichev

Payment methods

Transfers

Yes
Yes

Mastercard

Yes
Yes

Wire transfer

Yes
Yes

Card

Yes
Yes

Comparative table

Valr FEATURES Wirex
VALR allows relatively low minimum trades, making it accessible for beginners to start trading without requiring large initial investments.
Minimum Trade
Wirex allows flexible trading amounts, making it accessible for users of all investment levels, though specific minimums depend on currency pairs.
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
Wirex offers competitive trading fees, but its foreign exchange fees can be higher than average, which might affect those trading or using multiple currencies frequently.
The exchange offers a wide selection of cryptocurrencies, providing ample opportunities for diversification.
Number of Cryptocurrencies
Wirex supports a solid range of cryptocurrencies including major ones like Bitcoin, Ethereum, and Litecoin, making it suitable for most traders’ needs.
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
There is a good selection of trading pairs available, providing users with various trading strategy options.
While VALR generally provides clear information, some users might find details regarding certain policies and operational procedures could be better highlighted.
Website Transparency
The Wirex website provides clear information about fees, services, and user guidelines, making it easy for users to find the information they need.
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
Wirex offers a Visa card that integrates with cryptocurrency accounts, allowing users to spend their cryptocurrency at any Visa-compatible point of sale. The card functionality scores highly for its convenience and integration.
VALR offers secure storage options including cold storage, ensuring high security for stored digital assets.
Storage Offering
Wirex provides secure cryptocurrency wallets with cold storage options, ensuring safety for user funds, though it’s less customizable than dedicated crypto wallet services.
The platform provides competitive staking options and rewards, making it attractive for users looking to earn passive income.
Staking and Rewards
Offers rewards such as Cryptoback™ rewards on card purchases, but the staking options are somewhat limited compared to dedicated staking platforms.
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
The Wirex app and desktop platform are user-friendly and provide a seamless experience for managing cryptocurrencies and fiat currencies.
While available, customer service response times can be slow, which might frustrate users, especially those needing urgent support.
Customer Service
Customer service is a known issue with reports of slow response times and unresolved issues, impacting the overall user experience.
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
Deposits and withdrawals are generally smooth with support for multiple fiat currencies, but sometimes can experience delays which should be noted.

Key features

Analysis tools

Basic charting tools
Basic price tracking

Mobile APP

No
No

Security

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

Additional features

Staking, fiat on/off ramps, VALR Earn, institutional services
Crypto debit card, staking, Wirex rewards, fiat on/off ramps

Anonymity

No
No

Key points

Available cryptocurrencies

50+
10+

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.
Wirex 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 reasonable value for money with competitive fees and a user-friendly platform, though it may lack some advanced features.

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 global traders looking for a reliable platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

ZAR, BTC
USD, EUR, GBP, BTC

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.
Wirex provides a secure platform with easy fiat integration and a good range of cryptocurrencies. It offers additional services like a debit card but has higher fees compared to some exchanges.

Deposit and withdrawal

VALR is popular in South Africa, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.
Wirex supports multiple deposit options, including bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed quickly, with competitive 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.
Wirex provides an easy and fast account registration process. Users need to fill out personal details and verify their identity. The process is fully digital and usually completed within a day.

KYC required?

Yes
Yes

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.
Wirex provides comprehensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely assistance.

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.
Wirex ensures security through 2FA, encryption, and cold storage. It is regulated by several financial authorities, making it a highly secure platform for investors.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

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.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As a Wirex exchange expert, I’d like to share a little advice on why you might consider using Wirex for your crypto transactions. Wirex offers a uniquely integrated platform where you can manage both fiat and cryptocurrencies seamlessly. The ability to use a Visa card linked directly to your Wirex account allows you to spend your crypto holdings just as easily as fiat, virtually anywhere Visa is accepted. This feature alone makes Wirex an excellent choice for those who want to make cryptocurrencies a regular part of their financial toolkit. Plus, their user-friendly interface makes navigating through crypto transactions straightforward, even for beginners.

View all comparisons against Valr

View all comparisons against Wirex

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.

More comparatives Valr and Wirex