Comparison of Valr vs Coinsbank [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Valr vs Coinsbank comparison!

Your expert: Alejandro Borja

VALR

Valr

  • Threenvest valuation: 3,8/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

coinsbank

Coinsbank

  • Threenvest valuation: 2,5/5
  • US legal: No
  • Security: Low 2/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Main points

Fees

-0,01%/0,10%

Earns

No

Customer service

4/5
0,20%/0,50%

Fees

Yes

Earns

2/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

No

Buy and hold

Yes
No

Beginners

No

Trading

Yes

Passive income

No

Buy and hold


Comparison of fees

Rating

4.0 – Competitive fees with strong local support in South Africa.
3.7 – Competitive fees with additional benefits for cardholders.

Level

-0,01%/0,10%
0,20%/0,50%

Brief explanation

VALR’s commission structure is designed to be competitive and attractive to both novice and experienced traders. The exchange employs a tiered fee system where the trading fees decrease as the user’s monthly trading volume increases. This incentivizes higher trading volumes while maintaining affordability for smaller traders. Fees for typical trades start relatively low, with further reductions possible depending on the trade volume and currency pairs being traded. Additionally, VALR occasionally runs promotions that temporarily reduce fees or offer rebates, enhancing the trading experience.
CoinsBank structures its commission model to accommodate both crypto-to-crypto and fiat-to-crypto transactions. The trading fees are notably higher than the industry average, typically around 0.50% for takers, which is double the more commonly seen rate of 0.25% among various exchanges. This elevated fee structure can impact high-volume traders significantly, making it a critical consideration for anyone looking to use CoinsBank for frequent trading activities.

Valr

VALR
Read VALR review
  • Strong Security Measures: VALR employs robust security protocols including cold storage of assets, two-factor authentication, and secure encryption technologies to ensure user funds are protected against unauthorized access.
  • Compliance with Local Regulations: As a South African exchange, VALR adheres to local financial regulations and guidelines, which bolsters its credibility and reliability as a trustworthy platform in the eyes of both users and regulators.
  • High Trading Volume and Liquidity: VALR supports a high trading volume and offers substantial liquidity, making it easier for users to enter and exit positions, which is especially beneficial for traders looking to execute large volume trades.
  • Reputation and Reviews: Since its launch, VALR has built a solid reputation within the cryptocurrency community. Positive user reviews often highlight its user-friendly interface, range of supported cryptocurrencies, and responsive customer support.
  • Year Founded: Established in 2018, VALR has rapidly grown to become one of the leading exchanges in South Africa, demonstrating strong market resilience and continuous adaptation to user needs and technological advancements.
  • Pros
  • Wide range of cryptocurrencies
  • Competitive trading fees
  • Strong security measures
  • Cons
  • Limited global fiat options
  • Slow customer support response

Read VALR review

Coinsbank

coinsbank
Read VALR review
  • Year Founded: Established in 2016, CoinsBank has been active for several years, providing a stable and evolving service platform in the cryptocurrency exchange market.
  • Customer Service: Offers a comprehensive array of customer support options including email, telephone, and live chat, ensuring that users have access to assistance whenever needed.
  • Security Methods: Implements robust security measures including two-factor authentication (2FA), cold storage of funds to protect user assets, and SSL encryption for data security.
  • Reputation and Reviews: Despite some challenges, CoinsBank has managed to maintain a mix of positive reviews particularly for its user-friendly interface and multi-functional platform, highlighting its commitment to customer satisfaction.
  • Regulation: CoinsBank is licensed under the International Financial Services Commission (IFSC) of Belize and is registered with FinCEN MSB in Belize, indicating compliance with certain regulatory standards.
  • Pros
  • Supports multiple fiat currencies.
  • User-friendly interface and mobile app.
  • Offers wallet, card, and merchant services.
  • Cons
  • High transaction fees.
  • Limited cryptocurrency assets.

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Product selection

Native token

No
No

Earns

No
Yes

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

VALR Pty Ltd.
CB Exchange LP

Regulation

Regulated in Sudáfrica
Not regulated

Year founded

2019
2016

Founder

Farzam Ehsani
Unknown

Payment methods

Transfers

Yes
Yes

Mastercard

Yes
Yes

Wire transfer

Yes
Yes

Card

Yes
Yes

Comparative table

Valr FEATURES Coinsbank
VALR allows relatively low minimum trades, making it accessible for beginners to start trading without requiring large initial investments.
Minimum Trade
The platform offers a low minimum trade amount, making it accessible for beginners or those looking to start with small investments.
One of VALR’s strongest features is its competitive fee structure, which ranks among the lowest in the industry, benefiting all types of traders.
Trading and Transaction Fees
CoinsBank charges higher than average fees, which could be a deterrent for high-volume traders.
The exchange offers a wide selection of cryptocurrencies, providing ample opportunities for diversification.
Number of Cryptocurrencies
Offers a moderate selection of cryptocurrencies including major ones like Bitcoin, Ethereum, Litecoin, and Ripple, but lacks a wider range as seen in larger exchanges.
VALR supports a broad range of trading pairs, allowing users to trade directly between various cryptocurrencies without needing to convert to fiat.
Crypto-to-Crypto Trading Pairs
A decent range of trading pairs is available, though not as extensive as some of the larger platforms.
While VALR generally provides clear information, some users might find details regarding certain policies and operational procedures could be better highlighted.
Website Transparency
The platform lacks some transparency regarding team details and operational insights, which could affect user trust.
The VALR card integrates seamlessly with the exchange, providing convenient access to funds and attractive rewards, enhancing the overall utility of the platform for everyday transactions.
Credit/Debit Card
Dont’ have crypto card
VALR offers secure storage options including cold storage, ensuring high security for stored digital assets.
Storage Offering
Excellent security measures with cold storage options that ensure the safety of digital assets.
The platform provides competitive staking options and rewards, making it attractive for users looking to earn passive income.
Staking and Rewards
Offers some staking options, but the rewards and varieties are not as competitive as other top exchanges.
VALR offers both mobile and desktop platforms that are user-friendly and feature-rich, facilitating trading on-the-go as well as from a desktop setup.
Mobile App and Desktop
Both mobile and desktop platforms are user-friendly and reliable, suitable for trading on the go.
While available, customer service response times can be slow, which might frustrate users, especially those needing urgent support.
Customer Service
Provides various channels for support including live chat and email, although response times can vary.
Deposits and withdrawals are facilitated smoothly, but improvements can be made in terms of speed and the variety of supported currencies and methods.
Deposit and Withdraw
Supports multiple deposit and withdrawal methods including bank transfers and cards; however, the high fees on certain transactions can be a disadvantage.

Key features

Analysis tools

Basic charting tools
Basic charting tools

Mobile APP

No
No

Security

High 4,6/5
Low 2/5

Additional features

Staking, fiat on/off ramps, VALR Earn, institutional services
Crypto debit card, OTC trading, staking, Coinsbank wallet

Anonymity

No
No

Key points

Available cryptocurrencies

50+
Few, primarily major cryptocurrencies

User-friendliness

VALR offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.
Coinsbank provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

Value for money

Offers good value for money with competitive fees and strong local support in South Africa, making it a good choice for regional users.
Delivers reasonable value for money with competitive fees and a wide range of supported cryptocurrencies, though it may lack some advanced features.

Countries of operation

South Africa
United Kingdom, Europe, United States, Canada, Australia

Best for

Suitable for South African investors looking for a reliable platform with competitive fees and strong local support.
Ideal for traders seeking a secure platform with a wide range of supported cryptocurrencies and competitive fees.

Base currencies available

ZAR, BTC
USD, EUR, GBP, RUB, BTC

Account

Trading

VALR is a popular exchange in South Africa, offering a user-friendly platform and easy fiat integration. It supports a good range of cryptocurrencies and competitive fees but lacks some advanced trading tools.
CoinsBank provides a secure trading platform with a good selection of cryptocurrencies. It offers additional services like a wallet and card but has higher fees compared to some competitors.

Deposit and withdrawal

VALR is popular in South Africa, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.
CoinsBank provides multiple deposit options, including bank transfers and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.

Account opening process

VALR provides a seamless and fully digital account registration process. Users need to submit personal details and verify their identity. The process is quick and usually takes less than a day to complete.
CoinsBank provides a straightforward account registration process. Users need to submit personal information and verify their identity. The process is efficient and usually takes less than a day to complete.

KYC required?

Yes
Yes

Customer Service

VALR provides customer support via email and live chat. The support team is responsive and helpful, but the lack of 24/7 support may be a limitation for some users.
CoinsBank provides support via email and live chat. The support team is knowledgeable and responsive, but the lack of 24/7 support may be a drawback for some users.

Security

VALR employs robust security features, including 2FA and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some investors.
CoinsBank employs comprehensive security measures, including 2FA and cold storage. However, it lacks regulation from major financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As an expert reviewer on our website, I highly recommend VALR for anyone entering the cryptocurrency market in South Africa. The platform’s wide array of cryptocurrencies paired with some of the most competitive fees in the market makes it a top choice. However, if you’re trading from outside of South Africa or require swift customer support, you might want to consider these aspects before deciding.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert on our website, I’ve extensively evaluated CoinsBank and can confidently share my insights. For individuals new to cryptocurrencies or those seeking a multifunctional platform, CoinsBank stands out with its user-friendly interface and versatile offerings, including wallets, cards, and merchant services. However, it’s crucial to be aware of the higher transaction fees and the limited information about the team behind the scenes. These factors should be carefully considered when deciding if CoinsBank aligns with your trading and investment needs. Overall, if convenience and a variety of services are your priority, CoinsBank could be a suitable choice.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

More comparatives Valr and Coinsbank