JOHANNESBURG – After going live a month ago, South African cryptocurrency VALR has paid out R295 000 to its clients.
According to a statement released by the crypto trading in South African Rand (ZAR), VALR has paid out close to R300 000 in Maker Rewards.
As the currency continues to grow, it has also launched Ethereum-Rand (ETHZAR) last week which is another opportunity for consumers to buy and sell Ether.
In a statement to the media, VALR announced that customers can already start funding their accounts with ETH and ZAR.
Ethereum-Rand trading has been live for 24 hours.
24h volume: 80+ ETH
We currently have the most liquid book in the market. Thank you for your support Mzansi! 🇿🇦
— VALR (@VALRdotcom) July 12, 2019
The platform to trade or fund accounts on ETH and ZAR went live on Thursday this week, but VALR announced that it is still on Limit-only mode.
“ETHZAR is still in “Limit-only mode”. We’ll enable “Full-trading mode” shortly where Market Orders and Simple Buy/Sells will be enabled,” VALR said.
“Full-trading mode” now enabled on ETHZAR trading! You can now buy Ether directly with Rand using our Simple Buy/Sell feature. Market Orders are also enabled on the Exchange Buy/Sell feature.
The Johannesburg-based cryptocurrency trading platform with over 50 cryptocurrencies, is representing the largest selection offered by any platform in South Africa.
Since the launch in June, Bitcoin-Rand trading has already facilitated over R170m worth of Bitcoin trades in its three weeks of existence.
“We were delighted by the market’s response to our Bitcoin-Rand trading launch, and in just three weeks VALR now represents about 5% of South Africa’s 24-hour trading volume,” said CEO Farzam Ehsani.
“Ethereum is the second most valuable cryptocurrency in the world, and it brings us great pleasure to now offer Ether-Rand trading to our growing customer base at the lowest fees in the market,” he concluded.