What is Valr Pay and how does it work

VALR is a cryptocurrency exchange launched in 2019 and funded by Bittrex and Montegray Capital. The exchange received a $1.5 million seed round investment from Bittrex, a well-known international trading platform. CEO and co-founder Farzam Ehsani is in charge of the startup. Ehsani worked as the Blockchain Lead at FirstRand Group and Rand Merchant Bank before founding VALR. Additionally, he served as the South African Financial Blockchain Consortium’s first Chairperson.

Features of Valr exchange

Valr cryptocurrency exchange has impressive features and a state-of-the-art interface. The one significant drawback of the VALR trading platform, which is an intriguing choice for African-based cryptocurrency traders, is the absence of support in the USA and other developed nations. With its outstanding and simple-to-use features, cheap pricing, and superb middle-ground positioning, VALR is an excellent choice. For both professional and novice traders alike, this cryptocurrency exchange platform is undoubtedly one of the most desirable crypto trading platforms.

  • Cryptocurrency trading and support

Although VALR accepts a wide range of cryptocurrencies, only the South African Rand is supported currently as a fiat currency. There is no way to transmit fiat money like the USD or EUR. It seems reasonable given that the company was created and has its headquarters in South Africa, but it substantially negatively impacts users from other countries. Despite the fiat restriction, VALR has an outstanding assortment with over 70 supported currencies, including stablecoins and trading pairs. Apart from Bitcoin and Ethereum, additional cryptocurrencies such as Bitcoin Cash (BCH), Ripple (XRP), Litecoin (LTC), Cardano (ADA), Dogecoin (DOGE), VEChain (VET), and others are also supported.

  • Valr API

VALR offers an open API to those that want to fully utilize a cryptocurrency market or keep up with the Bitcoin exchange. Global platform VALR utilizes many blockchain technologies. The potential of each of these marketplaces is combined into one, and users can also block your VALR account online in cases of emergency or restricted access.

  • Valr Pay

The exchange provides a range of digital services and goods to marketplaces worldwide and seeks to give customers and traders a seamless and exciting experience. One of the most well-known products is VALR Pay, a liquidity provider. Users of this product can add money or assets to the wallets of their friends and family members. Then, users can get quick money. Transferring money across bank accounts is simple with VALRPay. Depending on the user’s account profile, all needed to deposit or receive ZAR is the user’s phone number, email address, or exchange ID.

  • Valr Referrals

To help its users extend their word-of-mouth marketing plan as far as possible, VALR provides its customers with various referral bonuses. Referral coupons are a promotion that enables registered users to profit by endorsing more investors. Since VALR referral is linked to machine learning, it might result in a positive outcome. Additionally, the platform can gain knowledge from its users to enhance its features and functionality.

Valr Pay – How it works

VALR users can send ZAR to one another for free via VALR Pay using a mobile number or email address. If the recipient does not yet have a VALR account, an invitation to sign up for VALR for free to claim the money is usually sent to the recipient by email or SMS. The exchange verifies the identification of consumers using machine learning and artificial intelligence (AI) technologies. VALR currently provides a mobile app for Android and iOS smartphones, making it accessible to users regardless of their preferred platform. Valr Pay is conveniently accessible in the mobile app, which is convenient for any VALR user who frequently finds themselves on the go.

Using their mobile number, email address, or VALR Pay ID, users of Valr can send Rands (ZAR) to anybody, anywhere. Any VALR customer can instantly send money by simply providing their information or VALR Pay ID via WhatsApp, Telegram, and other platforms. The transactions are quick and free. Valr Pay offers one of the simplest ways to swiftly and safely send Rands to friends, family, and community members.

Getting started with using Valr pay

Making ZAR payments to any mobile number, email address, or VALR Pay ID is free, quick, and simple with VALR Pay. Users can scan a unique QR code called VALR Pay ID to get money from a VALR account and go to the “Pay” option in the VALR app or the VALR website to get started. The process to complete payments is as follows:

  • Receive ZAR payment: To request payment, users provide an existing VALR customer’s phone number, email address, or VALR Pay ID.
  • Send ZAR: Users can send money from VALR fast and efficiently to any phone number, email address, or by scanning the VALR Pay ID of another client. Users can also add a message for the recipient and decide whether or not to transfer the cash anonymously. The anonymous option will not share the sender’s details with the recipient.

Transactions made with VALR Pay will appear in the user’s transaction history. Clicking on a specific transaction record allows users to view further information, such as the sender, recipient message, and personal note.


Fiat accounts are maintained separately from the rest of the system’s data, and each account is protected using two-factor authentication. Know Your Customer (KYC) compliance is applied to every user to guarantee that the platform is safe for all users. The exchange has compliance programs, including AML (Anti-Money Laundering) and CTF (Counter-Terrorism Funding), that intend to stop any unlawful activity, including money laundering, financing terrorism and criminal activity. These rules and principles are closely adhered to and regarded as being very important. Be aware that VALR is a centralized platform rather than a DeFi. The South African exchange’s platform provides cold and hot coin storage choices. Hot wallets for coins are multi-signature since they are online, which provides more security. 

Fees and Valr account funding

The pricing structure of VALR makes a distinction between makers and takers, with takers subject to a flat fee of 0.1 percent on all transactions. Users who frequently fill this position in trades might consider VALR an excellent budget choice because of its very reasonable fee. On the platform, many features are free. It includes no monthly fees, management costs, or fees for deposits made in fiat or cryptocurrency.

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