How VALR plans to steal a march in a busy SA crypto space

… its own funding round – worth US$1.5 million and featuring Michael Jordaan’s Montegray Capital and global blockchain platform Bittrex – in March.

The cryptocurrency space in South Africa is hotting up, with a host of local startups raising funding. But the Johannesburg-based cryptocurrency exchange VALR feels it has an edge.

Disrupt Africa reported recently on the rise of South Africa as a crypto hub, with the likes of DCX, OVEX, Coindirect, Revix and Centbee – the majority of them also exchanges – raising funding in the last few months alone.

Founded last May and launched to the public in December, VALR announced its own funding round – worth US$1.5 million and featuring Michael Jordaan’s Montegray Capital and global blockchain platform Bittrex – in March. But co-founder and chief executive officer (CEO) Farzam Ehsani believes the startup, which helps customers buy, sell, store and transfer cryptocurrencies, has certain advantages over its competitors.

One of these is in the breadth of options available on VALR.

“We support over 50 cryptocurrencies on our platform, making us the platform with the largest selection of cryptocurrencies in South Africa and the continent at large. Currently customers can trade their bitcoin or ether for over 50 other cryptocurrencies in the simplest way. In a month or two we will be enabling South African rand on our platform so that customers can buy and sell cryptocurrencies with their rands,” Ehsani told Disrupt Africa.

Whereas previously South Africans needed to buy bitcoin or ether on one of the local South African exchanges and then send it to overseas exchanges to access a broader range of cryptocurrencies that exist, VALR brings this large range of cryptocurrencies directly to the South African public without the hassle of needing to “exchange jump”.

“VALR is also bringing the simplest buying experience to our customers at much more competitive rates than the market currently offers. For our market-makers – those that bring liquidity to VALR – we actually have negative fees,” Ehsani said.

“This means that we pay our customers 0.1 per cent of the value of their trades for the liquidity they bring to our platform. This is a first for South Africa, Africa and most of the world. We’re very excited to be offering this to our customers and have already received a very positive response.”

Positive indeed. Within 10 hours of going live, VALR had averaged one sign-up per minute, and it welcomed its thousandth customer shortly thereafter. Ehsani said the response in general had been “great”.

“We have been particularly pleased with the market’s response to our referral programme where customers can earn up to ZAR1,500 (US$100) for each referral they make to VALR through commissions they receive and they also get 15 per cent off their trading fees once they have referred one friend to VALR,” he said.

VALR, which makes money from trading fees, is positioning itself as a global platform, accepting customers from 160 countries worldwide, but faces challenges for customers at home and abroad. Backers like Jordaan and Bittrex will help, but Ehsani is under no illusions as to what lies ahead.

“Building a cryptocurrency exchange is a complex affair. From the technical build, to ensuring industry-leading security, to navigating and anticipating regulatory frameworks to marketing to attract a wide customer base that is needed for any company that requires network effects,” he said.

“Any startup is really in the business of problem solving, and that’s exactly what we’ve been able to become good at.”

Others will fancy their chances too, in what is an increasingly busy space. Yet all the signs are VALR has what it takes to last the distance.

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Hxro (HXRO) One Day Trading Volume Reaches $3558.00

One Hxro token can currently be bought for about $0.0582 or 0.00000927 BTC on exchanges including Bittrex and IDEX. Hxro has a total market …

Hxro (CURRENCY:HXRO) traded down 1.2% against the dollar during the 1-day period ending at 0:00 AM E.T. on May 9th. Over the last week, Hxro has traded down 13.4% against the dollar. One Hxro token can currently be bought for about $0.0582 or 0.00000927 BTC on exchanges including Bittrex and IDEX. Hxro has a total market capitalization of $3.74 million and $3,558.00 worth of Hxro was traded on exchanges in the last day.

Here is how other cryptocurrencies have performed over the last day:

  • XRP (XRP) traded 0.6% lower against the dollar and now trades at $0.30 or 0.00004764 BTC.
  • Tether (USDT) traded 0.1% lower against the dollar and now trades at $1.00 or 0.00015917 BTC.
  • Binance Coin (BNB) traded down 7.7% against the dollar and now trades at $19.11 or 0.00304525 BTC.
  • Stellar (XLM) traded down 3.3% against the dollar and now trades at $0.0911 or 0.00001452 BTC.
  • TRON (TRX) traded 3.6% lower against the dollar and now trades at $0.0235 or 0.00000374 BTC.
  • Bitcoin SV (BSV) traded 1% lower against the dollar and now trades at $57.20 or 0.00911614 BTC.
  • COZ (COZ) traded 26.7% higher against the dollar and now trades at $0.22 or 0.00004541 BTC.
  • NEO (NEO) traded 2% lower against the dollar and now trades at $8.79 or 0.00140009 BTC.
  • Crypto.com Chain (CRO) traded down 2.3% against the dollar and now trades at $0.0698 or 0.00001113 BTC.
  • Basic Attention Token (BAT) traded down 3% against the dollar and now trades at $0.30 or 0.00004817 BTC.

About Hxro

Hxro’s total supply is 1,575,000,000 tokens and its circulating supply is 64,249,443 tokens. The official message board for Hxro is medium.com/@hxromedia. Hxro’s official Twitter account is @RealHxro. Hxro’s official website is www.hxro.io.

Hxro Token Trading

Hxro can be traded on the following cryptocurrency exchanges: IDEX and Bittrex. It is usually not possible to purchase alternative cryptocurrencies such as Hxro directly using U.S. dollars. Investors seeking to trade Hxro should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Changelly or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Hxro using one of the aforementioned exchanges.

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Emercoin (EMC) Market Capitalization Reaches $9.90 Million

One Emercoin coin can currently be bought for about $0.23 or 0.00003615 BTC on cryptocurrency exchanges including Bittrex, Tux Exchange, …

Emercoin logoEmercoin (CURRENCY:EMC) traded down 5.4% against the dollar during the 24 hour period ending at 0:00 AM ET on May 9th. In the last seven days, Emercoin has traded 19.2% lower against the dollar. One Emercoin coin can currently be bought for about $0.23 or 0.00003615 BTC on cryptocurrency exchanges including Bittrex, Tux Exchange, Cryptopia and HitBTC. Emercoin has a total market cap of $9.90 million and $76,601.00 worth of Emercoin was traded on exchanges in the last 24 hours.

Here’s how similar cryptocurrencies have performed in the last 24 hours:

  • BitcoinDark (BTCD) traded flat against the dollar and now trades at $16.23 or 0.00246929 BTC.
  • Experience Points (XP) traded 25.7% higher against the dollar and now trades at $0.0000 or 0.00000000 BTC.
  • Internet of People (IOP) traded down 1.5% against the dollar and now trades at $0.0858 or 0.00001369 BTC.
  • Sprouts (SPRTS) traded down 1.3% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
  • MAZA (MAZA) traded flat against the dollar and now trades at $0.0003 or 0.00000005 BTC.
  • BitTokens (BXT) traded 0.2% higher against the dollar and now trades at $0.53 or 0.00007883 BTC.
  • Neutron (NTRN) traded 20.1% lower against the dollar and now trades at $0.0063 or 0.00000101 BTC.
  • PX (PX) traded flat against the dollar and now trades at $0.0010 or 0.00000015 BTC.
  • Universal Currency (UNIT) traded flat against the dollar and now trades at $0.0063 or 0.00000154 BTC.
  • Breakout (BRK) traded flat against the dollar and now trades at $0.0052 or 0.00000099 BTC.

Emercoin Coin Profile

Emercoin is a PoW/PoS coin that uses the SHA-256 hashing algorithm. Its genesis date was December 8th, 2013. Emercoin’s total supply is 43,814,900 coins. Emercoin’s official Twitter account is @EmerCoin_EMC. Emercoin’s official website is emercoin.com. Emercoin’s official message board is emercointalk.org. The Reddit community for Emercoin is /r/EmerCoin and the currency’s Github account can be viewed here.

Buying and Selling Emercoin

Emercoin can be bought or sold on the following cryptocurrency exchanges: Tux Exchange, Crex24, Bittrex, CoinExchange, LiteBit.eu, Livecoin, HitBTC, Cryptopia, Upbit and xBTCe. It is usually not possible to buy alternative cryptocurrencies such as Emercoin directly using U.S. dollars. Investors seeking to trade Emercoin should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, Gemini or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Emercoin using one of the aforementioned exchanges.

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Syscoin (SYS) One Day Volume Hits $436099.00

One Syscoin coin can currently be purchased for $0.0579 or 0.00000924 BTC on popular cryptocurrency exchanges including Bittylicious, Bittrex, …

Syscoin logoSyscoin (CURRENCY:SYS) traded down 7.3% against the U.S. dollar during the twenty-four hour period ending at 23:00 PM Eastern on May 9th. One Syscoin coin can currently be purchased for $0.0579 or 0.00000924 BTC on popular cryptocurrency exchanges including Bittylicious, Bittrex, Upbit and Binance. Syscoin has a market cap of $32.03 million and $436,099.00 worth of Syscoin was traded on exchanges in the last 24 hours. During the last week, Syscoin has traded up 1.2% against the U.S. dollar.

Here’s how other cryptocurrencies have performed during the last 24 hours:

  • Litecoin (LTC) traded down 2.8% against the dollar and now trades at $73.33 or 0.01169353 BTC.
  • Dogecoin (DOGE) traded down 1.4% against the dollar and now trades at $0.0025 or 0.00000040 BTC.
  • Verge (XVG) traded 4.5% lower against the dollar and now trades at $0.0063 or 0.00000101 BTC.
  • Bytom (BTM) traded 6.5% lower against the dollar and now trades at $0.0907 or 0.00001446 BTC.
  • NEXT (NET) traded 0.5% lower against the dollar and now trades at $1.04 or 0.00016517 BTC.
  • Polymath (POLY) traded down 5.1% against the dollar and now trades at $0.0766 or 0.00001221 BTC.
  • Linkey (LKY) traded up 0% against the dollar and now trades at $0.57 or 0.00009101 BTC.
  • Lightning Bitcoin (LBTC) traded down 6.9% against the dollar and now trades at $5.76 or 0.00091788 BTC.
  • Einsteinium (EMC2) traded 5.6% lower against the dollar and now trades at $0.0888 or 0.00001416 BTC.
  • Matrix AI Network (MAN) traded down 0.8% against the dollar and now trades at $0.11 or 0.00001776 BTC.

About Syscoin

SYS is a proof-of-work (PoW) coin that uses the Scrypt hashing algorithm. Its genesis date was April 27th, 2014. Syscoin’s total supply is 552,805,533 coins. The official website for Syscoin is syscoin.org. The Reddit community for Syscoin is /r/SysCoin and the currency’s Github account can be viewed here. Syscoin’s official Twitter account is @syscoin and its Facebook page is accessible here.

Buying and Selling Syscoin

Syscoin can be traded on these cryptocurrency exchanges: Bittylicious, Binance, Trade By Trade, Upbit, Livecoin, YoBit, Bittrex, Tux Exchange, Poloniex and Sistemkoin. It is usually not presently possible to buy alternative cryptocurrencies such as Syscoin directly using U.S. dollars. Investors seeking to acquire Syscoin should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Changelly, Coinbase or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Syscoin using one of the aforementioned exchanges.

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Komodo Price Tops $1.17 (KMD)

Komodo can be traded on these cryptocurrency exchanges: Crex24, Cryptopia, HitBTC, Binance, Bittrex, Bitbns, Upbit, CoinExchange and BarterDEX.

Komodo logoKomodo (CURRENCY:KMD) traded 4.6% higher against the dollar during the twenty-four hour period ending at 22:00 PM ET on May 9th. In the last week, Komodo has traded up 15.1% against the dollar. One Komodo coin can now be purchased for approximately $1.17 or 0.00018765 BTC on major cryptocurrency exchanges including Cryptopia, Upbit, Bittrex and Crex24. Komodo has a market cap of $132.66 million and $1.26 million worth of Komodo was traded on exchanges in the last day.

Here’s how other cryptocurrencies have performed in the last day:

  • Zcash (ZEC) traded down 3.9% against the dollar and now trades at $56.34 or 0.00901982 BTC.
  • Bitcoin Gold (BTG) traded 2% lower against the dollar and now trades at $19.29 or 0.00308912 BTC.
  • Horizen (ZEN) traded 2.9% higher against the dollar and now trades at $11.25 or 0.00180127 BTC.
  • ZClassic (ZCL) traded 0.1% lower against the dollar and now trades at $1.33 or 0.00021256 BTC.
  • CrypticCoin (CRYP) traded 13.3% lower against the dollar and now trades at $0.0011 or 0.00000017 BTC.
  • Bitcoin Interest (BCI) traded 9.4% lower against the dollar and now trades at $0.0860 or 0.00001377 BTC.
  • BitcoinZ (BTCZ) traded down 4.7% against the dollar and now trades at $0.0002 or 0.00000003 BTC.
  • Bitcoin Private (BTCP) traded 19.5% lower against the dollar and now trades at $0.19 or 0.00002967 BTC.
  • Hush (HUSH) traded 8.5% lower against the dollar and now trades at $0.11 or 0.00001789 BTC.
  • Commercium (CMM) traded down 23.5% against the dollar and now trades at $0.0118 or 0.00000189 BTC.

Komodo Coin Profile

Komodo is a dPoW/PoW coin that uses the Equihash hashing algorithm. Its launch date was September 1st, 2016. Komodo’s total supply is 113,190,051 coins. The Reddit community for Komodo is /r/komodoplatform and the currency’s Github account can be viewed here. Komodo’s official Twitter account is @komodoplatform and its Facebook page is accessible here. Komodo’s official website is komodoplatform.com. Komodo’s official message board is blog.komodoplatform.com.

Buying and Selling Komodo

Komodo can be traded on these cryptocurrency exchanges: Crex24, Cryptopia, HitBTC, Binance, Bittrex, Bitbns, Upbit, CoinExchange and BarterDEX. It is usually not currently possible to buy alternative cryptocurrencies such as Komodo directly using US dollars. Investors seeking to trade Komodo should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, Changelly or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Komodo using one of the exchanges listed above.

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