What exactly does Valora do? Valora believes your digital assets should be as easy to use as cash. Theu have built a mobile wallet that makes sending, saving and spending crypto as easy as sending a text. Whether you’re splitting the lunch bill with a friend in California, sending a remittance to the Philippines, or purchasing groceries at a supermarket in Brazil, Valora can do it all. Keep reading down below to learn more.
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Valora App Features
Have you ever tried to send money abroad? It’s a cumbersome task. Fees for traditional transfers cost upwards of 15% of the total transaction and can take a few days to complete. With Valora, you can do it cheaply, easily and instantly, from anywhere in the world (more on pricing and fees later). All you need is a mobile phone. Here’s how it works:
- Download Valora to your phone.
- Sign up for an account using your phone number.
- Fund your Valora account with Celo Dollars (cUSD).
- Select someone in your contact list to send funds.
- Valora sends a text message to your recipient to redeem their cUSD.
The transaction happens at the speed of sending a text, even in parts of the world with slow internet connections. Funds are available as soon as the recipient downloads and registers for a Valora account.
Valora works with Celo Dollars (cUSD), a stablecoin, because it tracks the value of the U.S. Dollar and avoids the price fluctuations seen in other digital assets.
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Crypto Interest Account
Valora provides up to 5% interest annually on every cUSD in your account. There are no minimums, no commitments, and the earnings happen automatically.
Crypto Gift Cards
Not only a P2P payment app, Valora also lets members pay for goods with major retailers, services and subscriptions around the world that accept cUSD directly. Simply transfer your funds to a crypto exchange and convert cUSD to gift cards at Amazon, Starbucks, Walmart and more.
Valora is a self-custodial wallet, which means you have complete control over your funds. You’re the only person that has access to your account keys. This means no one else, not even Valora, can get into your account.
Valora App Pricing & Fees
Valora charges minimal fees, as low as $0.001 per transaction. That’s next to nothing. In comparison, the average remittance costs 7%.
Valora makes it easy to send funds internationally, earn interest, and make payments, all using cUSD. All you need is a smartphone and the Valora app.