Is VALR a Good Crypto Exchange for Beginners?
It is important for novice cryptocurrency traders to choose the right crypto exchange. Not all companies can be used when you are just starting your path in trading, which is why the success in cryptocurrency trading depends on making the right choice. Beginners often wonder whether VALR is a good crypto exchange to start trading with. In this article you will learn whether VALR is good for beginners, what its pros and cons are and what a novice trader needs to know.
Short summary about the broker VALR
The VALR exchange is a renowned cryptocurrency trading platform. Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, and other cryptocurrencies are at your disposal for trading here. Instantaneous exchange and margin trading are available (but no leverage). Of the fiat funds, only the South African rand is represented. The crypto exchange has a web version of the trading terminal and applications for iOS and Android for mobile trading. The site offers a referral program with four levels of reward. Traders' assets are stored in the Bittrex system, and the platform uses several levels of security to protect users' funds. Fees are fixed and are below the market average.
| 💰 Account currency: | Cryptos, currencies |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:1 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptos, ZAR |
| 💹 Margin Call / Stop Out: | No |
VALR Pros and Cons
👍 Advantages of trading with VALR:
•a plethora of cryptocurrencies for exchange and trade;
•functional and easy-to-learn trading terminal;
•the presence of an author's application for mobile trading;
•lucrative referral program with discounts and rewards;
•top-tier level of protection of data and user funds;
•all major options for depositing and withdrawing funds;
•low fixed fees for trading operations;
•Crypto4Covid Fund for Covid-19 Affected People.
👎 Disadvantages of VALR:
•the exchange does not offer tutorials;
•only South African rand is presented as fiat;
•communication with technical support can be initiated exclusively through tickets.
What is a Good Crypto Exchange for Beginners?
In order to choose the right broker for a beginner, you need to consider several aspects.
Here are the main ones:
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Education. It is important for novice crypto traders to learn how to trade. An exchange can offer educational courses, video tutorials, articles, webinars, etc. The more learning opportunities there are the better.
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Availability of a demo account. You will need this account to practice. It provides an opportunity for a beginner to trade risk free and try out trading strategies.
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Availability of a simple method to buy cryptocurrencies. An exchange service or a P2P exchange would be an advantage for an exchange.
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Low fees. The level of income of the trader depends on the level of the fees. Therefore, it is important to choose a company that charges minimum fees. Crypto exchanges mostly use the Maker and Taker fee model. It is important that you study them.
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Instruments for passive investing. In addition to active trading, passive income is also important for beginners. Pay attention to availability of copy trading or staking.
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Trading platform. It is important for a novice trader to choose the simplest trading platform that will be easy-to-use for trading.
In addition to these factors, you also need to consider how customer support operates, as it will also be important. Bonuses for beginners are also a nice perk.
Trading Conditions for VALR Users
Before you start working with an exchange, it is important that you evaluate its trading conditions. VALR offers traders the following conditions.
| 💻 Trading platform: | Proprietary (web and app) |
| 📊 Accounts: | Standard |
| 💰 Account currency: | Cryptos, currencies |
| 💵 Replenishment / Withdrawal: | Bank cards and accounts (ZAR only), electronic and cryptocurrency wallets |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptos, ZAR |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Market |
| ⭐ Trading features: | All major cryptocurrencies, only South African rand is available from fiat, low fixed fees, mutually beneficial referral program, no investment |
| 🎁 Contests and bonuses: | Not indicated |
Commissions and Fees
The size of commissions and fees is also an important factor of choice. Traders Union analysts have prepared a short review of VALR commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.
VALR crypto exchange offers a simplistic and transparent system of commission charges. Registration and account maintenance are free of charge, and there are no fees for making a deposit. The fee for withdrawing fiat to South African banks is 8.50 ZAR, and withdrawal to banks in other countries is not possible. There are no restrictions on withdrawals to electronic and cryptocurrency wallets, as well as accounts.
The exchange fee is 0.75% of the transaction amount, regardless of the assets involved and the transaction volume. For exchange trading, fees are also fixed but differ for the taker and the maker. The taker's fee is 0.1%, the maker's fee is 0.01%. Hence, the site pays extra to the maker for the deal.
A decrease in commission charges is possible with an increase in the level of the referral program. The maximum discount on commission fees is available at the third level, which is 15%. As additional savings, you can receive rebates through Traders Union.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | Up to 0.1% per order | Yes |
Investment programs of VALR
It is important for novice traders not only to trade actively, but also earn passive income. Passive investing can help you earn extra profit, and also compensate for the losses you may incur as a result of active trading. VALR offers the following passive income options.
Investment Programs, Available Markets and Products of the Broker
VALR cryptocurrency exchange does not offer investment solutions. Of the passive earnings on the site, only the referral program is available with the payment of a percent of the commission charges of invited traders. The crypto exchange is focused on active trading as the main source of income for users.
If you are a large investor and plan on investments over $ 10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.
VALR’s affiliate programs
The VALR referral (affiliate) program has notable differences from the typical programs of other cryptocurrency exchanges. The program includes four levels, but they are determined not by the depth of the referral network, but by the actions of the user. At each level (except zero), the exchange provides bonuses in the form of discounts on fees or affiliate payments.
Level zero: you register without a referral code and do not receive any benefits.
Level one: you register with a referral (invitation) code and receive a 10% discount on all trading commissions.
Level two: you invite another user with a referral code and get a 15% discount on all fees, and the user gets a 10% discount.
Level three: you invite two or more referrals and get a 15% discount on your fees. Plus, you also have access to 10% of all the commission fees of your referrals.
For you to receive a bonus for an invited referral, he must register, verify (confirm the data), and conduct at least one transaction. Inviting more than two referrals does not increase the discount, but allows you to earn more passively by increasing the number of sources from which you receive 10% of their fees.
The affiliate program is unlimited, you earn each time your partners trade on the site. You can invite an unlimited number of partners. You do not receive bonuses from users who are invited to the site by your partners.
An important advantage of the VALR referral program is that the invited user receives a guaranteed unlimited 10% discount on trading fees. This motivates users to sign up with inviting referral codes.
Conclusion. Is VALR good for beginners?
The VALR cryptocurrency exchange will be an excellent choice for beginners. The exchange offers a convenient trading platform, which a beginner can learn to work with rather quickly. There is an excellent education center with a large number of materials for novice traders. Also, traders can earn passive income on good conditions. Therefore, VALR could be considered as a good cryptocurrency exchange for a start.
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FAQ
What do I need to know about the fees charged by cryptocurrency exchanges?
The majority of cryptocurrency exchanges use the Maker/Taker fee model. As a rule, they use a multi-level system for traders that depends on the trading volume. The higher the trader’s trading volume, the lower the fees.
How do I choose a reliable cryptocurrency exchange?
Crypto exchanges mostly operate without licenses, as the majority of countries haven’t adopted legislation to regulate them. In order to choose a reliable exchange, you need to find out about its reputation and read the reviews about user experiences with it.
How many cryptocurrencies could a crypto exchange offer?
The number of cryptocurrencies on the listing of a cryptocurrency exchange may be very different. Some platforms offer less than 10, while others – several hundreds. It is important that you check the choice of cryptocurrency before registering on the exchange.
What are the risks of investing in cryptocurrencies?
Investing in cryptocurrencies carry high risks due to their high volatility. It could cause substantial losses, which is why it is important to observe the rules of risk management.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.