VALR is a South African based crypto exchange that allows its users buy, sell, store and transfer cryptocurrencies at ease. This platform solves the problem which users often face with converting fiat currencies into digital assets and vice versa, by providing a user-friendly exchange that users can easily use.
The goal of this platform is to provide a new financial paradigm that makes financial services readily available to the general public with transparent pricing and seamless experience. This exchange is one of the leading cryptocurrency platforms in South Africa.
We will work you through getting started on the VALR crypto exchange.
Getting started – Signing Up
The first thing to do is to create an account on VALR exchange. Doing this is quite simple. You can either create an account through the webpage or via its mobile application.
To create an account via the Webpage, launch the https://www.valr.com on your browser, and click “Get Started”. Fill in the required details on the fields provided, take the RECAPTCHA test, and click “Next”.
Once that is done, you will receive a link on your email, which you will use to activate your account. Click on the link to activate your account. When you verify your account, you will be requested to sign in to complete your account setup.
When you sign in, you will be asked to verify your phone number. A code will be sent to the phone number you will provide and you will have to provide the code to continue the process.
Once your phone number is verified, you will proceed to identity verification. Fill in the required details on the various boxes provided, and click “Save and Continue”.
Next is document verification. Documents accepted are International passport, National ID card or Driver’s license. Choose any of the documents you wish to use for the verification. It is advisable you do this verification using a mobile device because, once you get to this point, you will have to take a snapshot of the document you chose and your selfie, whilst holding your ID document. Once you are done submitting your data and documents for verification, your account will be verified and will be ready for use within minutes or few hours.
Linking Your Bank Account to VALR
Once your account is ready, proceed to linking your bank account with your VALR account. Hover your mouse on the place your name is displayed, and a dropdown menu will pop out. Click “Bank Accounts” and then, “Link bank account”. Fill in the required fields and click “Next: Authorize by email”. Then follow the instructions provided to you on your email, to complete the process. It is worthy of note that only South African bank accounts are accepted for this.
Depositing South African Rands (ZAR) on VALR
The next thing to do is to deposit fiat current to the exchange. To do this, just log in and click “wallet and then “Deposit ZAR”, if you wish to deposit South African Rand. You will be provided with account details which you will use to complete your Rand deposit.
Copy the details carefully and complete the payment. Also, make sure you select the bank you are sending the payment from. When you have completed the payment, click the icon which bears: “I have transferred funds”. After some hours, your Rand will appear on your Rand ZAR balance.
Depositing Bitcoin or any other Cryptocurrency on VALR
There are up to 50 digital assets available on VALR for trade. To deposit BTC or any other available digital asset, click “Deposit BTC” or any other digital asset you wish to deposit. Copy the address or barcode that appears on your screen and send it to the person sending the digital asset to you. Once the digital currency is sent to your address, it will appear on your balance after blockchain confirmation is completed.
Once you have funds on your account, you can now trade any digital asset you want. You can use your fiat to buy BTC, ETH or XRP and then use any of these to trade other digital assets available here.
There are two methods of trading on VALR. You can use “Simple Buy/Sell” to trade instantly, or you can use the VALR exchange to place a limit order. To trade instantly, click “Buy Crypto”, choose any of the assets you wish to trade and then, click “Buy” or “Sell”, as the case may be. Fill in the amount of the assets you wish to buy, and click “Review buy”.
If the terms are fine by you, go ahead and complete your trade.
Placing a Limit Order
This is another method of trading on VALR. Here, you place a limit order at a price you desire to buy or sell. This is unlike in instant trade where you immediately buy or sell at a market price. To place this trade, hover your mouse on “Exchange” and then, click the “BTC/ZAR” pair or any other pair you wish to trade.
You will see an interface that contains three sections. One of the sections displays the order book that contains waiting orders yet to be filled, whilst the other section displays a trade chart which showcases market movements using candle sticks, and the last section shows a trade history which contains completed trades.
Fill in the price you want, the amount you want to trade with, and place your order. Once your order is placed, it will appear on the order book.
Withdrawing South African Rand (ZAR)
Once your bank account is linked to your VALR account, withdrawing Rand into your account is very easy. Just go to “Wallet”, then click “Withdraw” under the ZAR balance.
Fill the required fields, and complete the withdrawal. You will need to verify the withdrawal using a code that will be sent to your registered mobile number. Once you verify your withdrawal, your account will be credited within 2 business days.
Withdrawing Bitcoin and Crypto
Withdrawing digital assets from VALR is as easy as depositing it. To withdraw, go to “Wallet”, then click “withdraw” under the balance of any asset you wish to withdraw. Fill in the address you are withdrawing to, the amount you wish to withdraw, and click “Review withdraw”. If the terms are good, complete your withdrawal.