How to Send Money to VALR From Kenya
VALR, Africa’s largest crypto exchange by trade volume, offers seamless access to over 110 cryptocurrencies. With strong regulatory compliance and top-tier security measures, VALR provides a trusted platform for users looking to buy, sell, trade or store crypto assets with confidence.
Getting started is simple - create an account, verify your identity, and deposit funds (crypto or fiat). But for users in Kenya, the key question is: What are the available options for sending money to your VALR account?
In this article, we’ll explore the deposit methods available on VALR for Kenyan users.
Understanding How to Send Money to VALR From Kenya
VALR currently supports fiat currency deposits in South African Rand (ZAR), United States Dollar (USD), and Euro (EUR).
For users in Kenya, this means sending money directly to your VALR account with KES isn't possible, as VALR doesn't yet support KES deposits. However, you can deposit USD or EUR via wire transfer, which will be converted into USDC (USD Coin) or EURC (Euro Coin) respectively upon receipt. These stablecoins can then be used to trade over 110 cryptocurrencies available on the platform.
To deposit USD or EUR from Kenya:
Send money via USD Wire Transfer: VALR offers sending money through SWIFT payments in USD, converted to USDC. Detailed instructions are available in this article.
Send money via EUR SWIFT or SEPA Transfer: VALR supports sending money in EUR, converting it into EURC. You can find the step-by-step process here.
Alternatively, you can send money as crypto from another exchange. In the next section, we'll guide you through the process of depositing cryptocurrencies into your VALR account step by step.
How to Send Crypto to Your VALR Account From Kenya
To fund your VALR account with crypto from Kenya, follow these simple steps:
Buy cryptocurrency through a local exchange or a peer-to-peer (P2P) solution. Send money in KES to one of these platforms and exchange it for any of the cryptocurrencies supported by VALR. You can check the current list of available crypto assets on the Wallets page.
Log into your VALR account. Once you've acquired a supported cryptocurrency, head over to VALR and log in. If you don't have an account, you can sign up here. Make sure to verify your account to access all features—it's a quick and straightforward process.
Go to the Wallets page and select your preferred cryptocurrency. Click the three dots next to the asset you want to deposit and choose "Deposit."
Select the correct blockchain network and generate a deposit address. On the next screen, choose the network you'll be transferring from (e.g., Ethereum, Avalanche C-Chain, Solana) and click "Generate Address."
Transfer funds from your wallet to your VALR account. Open your wallet app and either scan the QR code displayed on the page or copy and paste the wallet address to initiate the deposit. Never type in the deposit address manually, as even a small mistake could result in a loss of funds. Always verify that the address and selected network are correct before confirming the transfer.
Wait for the deposit to be credited to your VALR account. Depending on the network you choose, the deposit should reflect within a few minutes. Once it arrives, you're ready to start trading on VALR.
Keeping Your Funds Safe
Sending money to your VALR account from Kenya may involve a few extra steps, but the process is straightforward if you follow the right approach. By carefully executing each step, you can ensure that your deposit arrives safely in your account and is ready for trading.
However, to further protect your funds, it's crucial to follow these security best practices:
Send only the correct cryptocurrency to the correct address. Depositing the wrong digital asset to the wrong address can result in irreversible loss.
Use the correct destination tag for Ripple (XRP). If you're depositing XRP, always include the correct destination tag to avoid issues.
Double-check wallet addresses and networks before making a deposit. A single mistake in the address or network selection could lead to lost funds.
Use copy-paste or QR code scans instead of manual typing. This helps prevent human errors that could result in lost transactions.
Research P2P and local exchanges before using them. Always conduct due diligence on any platform you use to trade fiat for crypto to avoid scams and fraud.
Stay informed about common crypto scams. Check out this guide on avoiding crypto scams to learn how to protect yourself.
Keep your devices secure. If you suspect a device is compromised by viruses or malware, do not use it to transfer crypto to your VALR account.
Follow best practices for crypto security. VALR provides a detailed security guide that you should review to keep your funds safe.
By following these steps and security tips, you can confidently send money to your VALR account from Kenya and start trading with peace of mind.
Risk Disclosure
Trading or investing in crypto assets is risky and may result in the loss of capital as the value may fluctuate. VALR (Pty) Ltd is a licensed financial services provider (FSP #53308).
Disclaimer: Views expressed in this article are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.
