Reading time 7
What is Valora mobile app
PayPal, a provider of financial services, created the smartphone app Valora. Users of the software can purchase, sell, and store cryptocurrencies. Additionally, it enables users to send and receive payments in crypto or fiat money like USD or EUR.
In-app budgeting tools, financial news, and educational resources on cryptocurrency are among the additional features of the Valora app. The software is presently accessible in a number of nations, including the United States, Germany, and France, and can be downloaded on both iOS and Android smartphones.
The history of Valora mobile app
As a peer-to-peer (P2P) payment mobile wallet, Valora was originally introduced by PayPal in 2019. The software was initially only accessible in Germany, but it was warmly accepted there and quickly became well-liked by users.
Valora launched cryptocurrency functionality in late 2020, enabling customers to purchase, trade, and hold a variety of digital assets, such as Bitcoin, Ethereum, and Litecoin. The action was viewed as a strategic move by PayPal to increase its market share in the cryptocurrency space and benefit from the rising demand for virtual currencies.
Since then, Valora has expanded to include new functions and increase the number of nations where it is accessible. The software was made available in the United States, one of the world’s biggest markets for cryptocurrencies, in the beginning of 2021. Other European nations including France, Spain, and Italy have also made it accessible.
Overall, Valora has swiftly risen to prominence as one of the most widely used smartphone apps for P2P payments and cryptocurrency transactions, providing consumers with a practical and simple platform for managing their digital assets.
How Valora app works
Valora is a mobile app that allows users to buy, sell, and hold cryptocurrencies, as well as send and receive payments in both crypto and traditional currencies. Here’s how it works:
- Creating an account: Before using Valora, users must download the app and do so. They will be required to submit certain private data, like their name, phone number, and email address.
- Users can finance their Valora accounts with a bank transfer, debit card, or credit card. Additionally, they can move cryptocurrency from one wallet to another.
- Cryptocurrency purchases and sales: After funding their accounts, users can purchase or sell cryptocurrencies like Bitcoin, Ethereum, or Litecoin. They can specify the amount they wish to buy or sell, and Valora will display the going market rate along with any associated costs.
- Paying and getting money: Valora enables users to send and receive money using both digital and fiat currencies. Users must either enter the recipient’s address or scan a QR code in order to transfer a payment. Additionally, they can add a message and specify the payment amount. Users must give the sender their wallet address or QR code in order to receive payments.
- Managing the wallet: Users of Valora can keep their cryptocurrencies in a digital wallet that Valora offers. A PIN code and biometric authentication are used to safeguard the wallet. Users can also configure alerts to track their transactions and receive notifications in real-time.
Overall, Valora is a simple and user-friendly app that offers a convenient way to manage cryptocurrencies and make payments using digital assets.
Can Valora app be trusted
The smartphone app Valora is produced by PayPal, a reputable and well-known supplier of financial services. Users can trust Valora to be a reliable program that has passed stringent security checks to protect user data and money.
Valora has put in place a number of security measures to safeguard user accounts, including two-factor authentication, and is governed by the German Federal Financial Supervisory Authority (BaFin). The software also uses SSL encryption to protect users’ financial and personal information.
Additionally, Valora has been created to adhere to global anti-money laundering (AML) and counter-terrorism financing (CTF) laws. The app has strong know-your-customer (KYC) procedures in place that call for users to confirm their identity and supply personal data before using it.
Valora has a solid reputation for security and dependability, which is supported by its partnership with PayPal and adherence to legal regulations. But just like with any financial software, it’s crucial for users to use prudence and take the necessary precautions to safeguard their accounts and valuables.
Does Valora app charge a fee
Yes, Valora does charge fees for some of its services. Here’s a breakdown of the fees charged by the app:
- Cryptocurrency purchases and sales are subject to a fee from Valora, which varies according to the currency and the value of the transaction. Before the user confirms the transaction, the fee is displayed to them.
- Payments: Valora does not charge a fee to transmit or receive payments in conventional currencies like the US dollar or euro. The blockchain network’s network fees, for example, may be levied while transmitting or receiving payments in bitcoin.
- Fees for withdrawals: When money is taken out of the Valora app and transferred to a bank account or external wallet, a fee is charged. The cost varies according to the currency and the size of the withdrawal.
It’s important to note that Valora often charges lesser costs than many other cryptocurrency exchanges and wallets. Users of the app can view the precise amount they will be charged before approving a transaction, and the service is clear about its fees.
Overall, Valora’s prices are competitive and acceptable, and the app offers a user-friendly platform for storing cryptocurrencies and sending money that is both convenient and straightforward to use.
