What Is VALR?
VALR Is A Cryptocurrency Exchange Established In South Africa In 2019. It Is One Of The Most Popular Cryptocurrency Exchanges In Africa With Over 100,000 Users. VALR Offers Trading In Over 80 Cryptocurrencies Including Bitcoin, Ethereum, Tether And Binance. It Also Offers Leveraged Trading And Staking, Two Features Not Found On Many Other African Cryptocurrency Exchanges. As Of March 8, 2023, VALR Has A 24-hour Trading Volume Of Over $100 Million. VALR Has A Transaction Fee Of -0.01% (they Pay You) And An Order-eating Fee Of 0.03% -0.1%. This Means That You Can Save On Processing Fees With Lower Limit Orders (pending Orders).
Pros And Cons
VALR Excels In The Following Areas:
- Over 80 Cryptocurrencies To Choose From, Giving Traders More Options.
- Offers Two Features, Margin Trading And Staking, Which Are Not Available On Many Other Cryptocurrency Exchanges In Africa.
- Offers A Limited Number Of Cryptocurrency Reward Staking, Such As BTC, ETH, USDT, BNB, Etc.
- - 0.01% Trading Fee, Meaning That If Your Trading Amount Is Less Than $100,000, You Will Actually Get Paid For Trading On VALR, Which Is Rare Among Cryptocurrency Exchanges.
The Following Areas Are Missing From VALR:
- A Relatively New Exchange, Which Means It May Not Have The Same Level Of Liquidity As Some Of The More Established Exchanges.
- VALR Has A Minimum Deposit Amount Of $100, Which May Be A Barrier To Entry For Some Users.
Some Users Have Reported That VALR's Customer Support Is Slow To Respond. If You Are Experiencing Problems With Your Account, This May Be A Problem.
- Not Regulated By Any Regulatory Authority, There Is A Certain Risk To Traders.
Security
VALR Takes A Number Of Security Measures To Protect Its Customers' Funds. These Measures Include:
- Cold Storage: VALR Keeps The Majority Of Its Customers' Funds In Cold Storage, Which Means They Are Offline And Not Connected To The Internet. This Makes Them More Secure And Less Vulnerable To Hackers.
- Multi-Factor Authentication: VALR Requires Its Users To Log Into Their Accounts Using Multi-Factor Authentication (MFA). This Means They Need To Enter A Verification Code On Their Phone In Addition To Their Password. This Adds An Extra Layer Of Security To Prevent Unauthorized Access To Accounts.
- Security Audit: VALR Conducts Regular Security Audits To Identify And Address Any Vulnerabilities. This Helps Maintain The Security And Stability Of The Exchange.
Insurance: VALR Insures Its Clients' Funds Up To $100 Million. This Means That Clients Will Be Compensated If The Exchange Is Hacked And Loses Their Funds.
These Security Measures Are Designed To Protect VALR's Client Funds From Hackers And Other Threats. However, It Should Be Noted That No Exchange Can Guarantee 100% Security.
Trading Marketplace
The Trading Platform Offers A Range Of Products Designed To Meet The Needs Of Different Experience Levels And Investment Strategies In Cryptocurrency Trading:
- Simple Buying And Selling: This Feature Is Suitable For Beginners Or Those Who Prefer Simple Trading. It Enables Users To Easily Buy Or Sell Cryptocurrencies, Bypassing The Complexities Of Advanced Trading Features. Ideal For Cryptocurrency Novices Or Those Who Prefer A Straightforward, Less Technical Way Of Trading.
Advanced Exchange: A Platform Tailored For More Experienced Traders, Offering Customizable Options To Execute Complex Trading Strategies. It May Include Detailed Charting Tools And Various Order Types Such As Limit And Stop-loss Orders, As Well As Access To A Wider Range Of Cryptocurrencies. This Option Is Suitable For Traders Who Need More Control And Advanced Features In Their Trading Activities.
- Futures Trading: This Service Allows Trading Cryptocurrency Futures, Including Perpetual Futures With A Maximum Leverage Of 5x. Perpetual Futures Are Derivative Contracts With No Expiration Date, Allowing Traders To Hold Positions Indefinitely. The Leverage Feature Enables Traders To Hold Positions That Far Exceed Their Actual Account Balance, Amplifying Potential Gains And Risks. This Is Designed For Experienced Traders Who Have An In-depth Understanding Of The Complexities And Risks Of Leveraged Trading.
- Automated Cryptocurrency Purchases: An Automated Investment Service Where Users Can Set Up Regular Purchases Of Cryptocurrencies. This "set And Forget" Strategy Is Often Used For Long-term Investments And Is Especially Beneficial For Those Who Wish To Invest In Cryptocurrencies Without Actively Managing Their Trades. It Is Also A Strategy That Employs The "dollar Cost Averaging Method" For Those Who Believe In The Long-term Growth Of The Chosen Cryptocurrency.
Each Product Meets Different Trading Needs And Risk Preferences, From Options Suitable For Beginners To Complex And Higher Risk Strategies Suitable For Experienced Traders. Users Should Understand Their Trading Objectives And Risk Tolerance Before Using These Products.
