VALR Cryptocurrency Exchange is situated in South Africa. VALR Exchange started its functioning in March 2021 and has already accumulated more than 1,00,000 active users. It has also partnered with Bittrex, one of the renowned exchanges of the United States which has helped VALR in increasing its user base across the world.
VALR, being new in the business offers a lot of rewards and rebates to its customers. It offers users rebates on their trading fee, and even a return on their traded value(Plain Profit) as a maker fee, for increasing the liquidity in the Exchange. You can find the details regarding these features below.
VALR Fees and Charges
It has mixed features for different kinds of users. It has two kinds of trading terminologies, Simple Buy & Sell for beginners and Exchange Buy & Sell for advanced traders. The trading fee varies in these two categories.
Trading fees
The users that use the Simple Buy & Sell window of VALR for making their transactions have to pay 0.75% per trade, which is very high. While the users that can use the Exchange Buy & Sell window can have to pay just 0.10% per trade as a taker. They can even make money as a maker, 0.10% of the traded value. This is one of the striking features of VALR, which has helped it attract a lot of users to its platform. VALR is the first Exchange in South Africa and in many other countries to actually offer the money to the traders for increasing the liquidity on its platform.
Exchange Buy/Sell
| Trading fee |
| Makers: -0.01% (user gets paid)
Takers: 0.1% |
Simple Buy/Sell
| Brokerage margin |
| 0.1% for crypto-to-crypto pairs
0.75% for ZAR to BTC, ETH, or XRP pairs 0.85% for ZAR to other cryptos |
Deposit & Withdrawal fees
VALR charges zero fees for deposits made into its trading accounts either through crypto or fiat. Though it does charge some amounts for withdrawals made through its platform. ZAR withdrawals charges on VALR are fixed at R8.50 only. Crytpo withdrawal charges depend on the individual tokens/coins.
PROS AND CONS
|
Pros |
Cons |
| Since its partnership with Bittrex VALR has formed a similar unparalleled secured platform for its users. | VALR is still new and developing, trusting a well-established Exchange would be easier. |
| VALR now has more than 45 listed Crypto and 70+ trading pairs. | Accepts only ZAR Payments in fiat transactions. |
| Offers money to traders as incentives for increasing the volume on its platform. | Does not have a huge volume, which makes some users feel skeptical about the Exchange. |
| No Deposit Fee and very little withdrawal fee. | A minimum deposit amount of $100 is mandatory which is troubling for many users. |
Arbitrage Trading
For a basic understanding of how Arbitrage trading works, you may click on this “link“.
VALR Arbitrage is an additional feature provided by VALR to its interested users, who would like to take the advantage of the Bitcoin price differences in various regions. As per the reports provided by VALR on its official website “Historically, individuals have earned up to R50,000* within days/weeks by using their R1 million annual SA exchange control allowance, and up to 10x more for eligible individuals with SARS approval”. VALR Arbitrage provides the user safety of their initial capital, preferential Forex rates, and proper customer services.
Although, not all users can avail this facility. Only the South African citizens and/or residents who have at least R200,000 of their own money available in their own SA bank account can take advantage of VALR Arbitrage. As charges for this facility, they just deduct the 25% of the Arbitrage profits they make through your funds, and no other fee is charged for the services.
IS VALR SAFE?
Since its inception with Bittrex, VALR cannot be attacked as an unsecured or risky platform. Bittrex is a well-known US cryptocurrency Exchange that emphasizes a lot of resources on forming a secured platform for its users. And now that VALR is a part of Bittrex, it can be termed as a safe and secured platform too. It also has a very transparent payment structure, which is clear for the users, when they make any kind of transactions on the platform.
VALR holds its users’ cryptocurrencies in both “cold storage” and “hot wallets”. Cold storage refers to offline institutional vaults that are geographically dispersed, access-controlled, and video-monitored. Hot wallets are online multi-signature wallets required to maintain operational liquidity.
Conclusion
VALR is a newly found Exchange aspiring for success with its new and attractive features. Then the incentive it provides to the users for bringing in liquidity is another one of the things that have brought VALR into the radar of a lot of crypto traders. It has high grounds for the security of its client’s funds as well, as is shown on the front page of their official website. They provide proper, Account Security, Financial Security, and Secured Coin Storage facilities with the least internal control of the management. VAL R has included all sorts of latest features on its platform, like Auto-Buy, Arbitrage Trading, API, etc.
Since VALR’s inception with Bittrex, it has become a next-level cryptocurrency trading platform that users can trust and use without any fear of losing their assets. Although, it still needs to work on adding new fiat currencies as payments on its platform, for easier reach of the global users to the Exchange.