Valora is a new digital wallet that makes sending, saving, and spending digital money as easy as sending a text. Make payments, send internationally, or simply split the bill with a friend – no matter where they are in the world. All you need is their phone number.
Continue reading below to learn more about Valora.
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Valora App Features
If you’ve tried sending money abroad, you understand how it can be a nuisance sometimes. Traditional transfers costs up to 15% of the total transaction and may take a few days to be completed. When you use Valora, you can do it for much cheaper and instantly from anywhere in the world.
How it works:
- Download Valora to your phone
- Then sign up for a new account using your phone number
- Fund your Valora account with Celo Dollars (cUSD)
- And select someone in your contact list to send money to
- Valora will then send a text message to your recipient to redeem their cUSD.
The transactions happen instantly even if they have slow internet connections. The funds will be available as soo as the recipient download and register for a new Valora account.
Valora uses Celo Dollars (cUSD), a stablecoin, since it’s tracks the value of the US dollar and avoid the price fluctuation that are seen in other digital assets.
Crypto Interest Account
Valora offers up to 5% annually on every cUSD dollar in your account. There are no minimums. No commitments since your earnings happens automatically. Please note that the earnings are subject to change without notice.
Crypto Gift Cards
Valora also lets their users pay for goods with major retailers, services and subscriptions around the world that accepts cUSD directly. You can transfer your funds to a crypto exchange and convert cUSD to gift cards at Amazon, Starbucks, Walmart and more.
Security
Valora is secured by the Celo blockchain. You’re the only person who can see and access your funds in Valora. This means that only you have ‘custody’ over your account by way of your unique Account Key. Your Account Key is a private code which keeps your funds safe and secure. You’re the only person who can see your Account Key, no one else–not even Valora–can access this key.
Valora App Pricing & Fees
Valora charges minimal fees, as low as $0.001 per transaction in comparison to their competitors.
Conclusion
Use the Varo App to send money to any smartphone, anywhere in the world. Sent funds are available as soon as you download and set-up Valora.