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How to Get Funds in Valora

WHAT'S IN THIS ARTICLEWhat do I need to know before sending funds to and from Valora?How do I add funds to my Valora account?How do I withdraw funds from my Valora account?

What do I need to know before sending funds to and from Valora?

Set up your Account Key

Before you can securely send funds to your Valora account, you will want to set up your Account Key. If you send any funds before setting up your Account Key, you could lose those funds permanently. Read more about your Account Key.

Remember not to send Celo Dollars (cUSD) to a CELO-only wallet. Remember not to send CELO to a cUSD-only wallet.

Although Valora supports both cUSD and CELO, all wallets do not necessarily support this feature. So when sending CELO or cUSD to either another wallet or to an exchange, it’s important to ensure you send the supported asset you want to use. Doing otherwise might mean you could lose those funds permanently. Learn more about CELO and cUSD.

Double-check Account Numbers

Celo is a network that records and secures transactions using blockchain technology. This means that it’s important for you to send funds to the correct account. If not, it means you could lose those funds permanently. You can double-check the first 4 digits and last 4 digits of any Account Number where you want to send funds for the first time. You can do this whether you enter the Account Number manually, or if you copy and paste the address.

By confirming your phone number you can use your friend’s phone numbers instead of their Valora Account number reducing the risk of sending funds to the wrong account. Read up on phone number confirmations.

Do a test transaction

Whenever you send money to a new account, it’s best to always send a test transaction with a small amount (less than $0.10 cUSD) if possible and confirm the amount arrived with the recipient. This will ensure that:

  1. You are sending to the correct address

  2. You are sending to an account that supports that asset

  3. Both accounts have been properly set up

How do I add funds to my Valora account?

There are currently a few different options for adding funds to Valora. These options have varying support for CELO and Celo Dollars (cUSD), and only support certain regions or countries; please select the option that is right for you.

  1. In Valora, go to Menu > Add and Withdraw > Add Funds.

  2. Select the currency (CELO or cUSD) you wish to buy, and then select your preferred payment method available in your region. 

  3. When you’re presented with a list of cash-in options*, you can select one.

  4. You will be redirected to an external webpage to continue the process. For some options, such as an exchange, it may be easier to access these websites on a computer instead of a mobile phone.

We have partner-specific guides available for the following:

  1. Purchase funds in-app

    1. Simplex

    2. MoonPay

  2. Send funds from an exchange

    1. Coinbase

  3. Send funds from another Valora account

You can read through the sections below to learn more about sending funds to and from Valora.

*The first time you use a provider you may be required to complete a Know Your Customer (KYC) identification process, which will require a form of ID.

Send CELO and/or Celo Dollars (cUSD) to Valora from a cryptocurrency exchange

  1. Sign up or log in to an exchange that supports Celo Dollars (cUSD) or CELO and is available in your country. If this is your first time using an exchange, you may need to complete a Know Your Customer (KYC) process to confirm your identity and your funds may be held while the KYC is processing. Follow the instructions provided by the exchange to sign up. As of writing (Oct 26, 2020) CELO and cUSD are listed at these exchanges: 

    1. CELO: Bittrex US, Bittrex Global, OKCoin, OKEx, CoinList Pro, Coinbase Pro, Binance, LAToken

    2. Celo Dollars (cUSD): OKCoin, Bittrex Global, CoinList, CoinList Pro

  2. Follow the steps to buy either CELO or Celo Dollars (cUSD) from the exchange. Once your order is complete, you can then send your funds to Valora.

  3. First, locate your Account Number in your Valora app at the bottom of the Menu (this is indicated by the green circle in the picture below). You can copy it by simply clicking on it. Have this ready for the next step.

  4. Send CELO or Celo Dollars (cUSD) to your Valora app.

    1. Within the exchange, find a button that says “Withdraw” or “Send”. The withdrawal process for each exchange varies, so if you are unsure of how to withdraw your funds you can often contact the exchange’s customer support, or try a quick internet search to point you in the right direction. To avoid any mishaps, it’s important to double check you are following instructions found on the exchange’s website and that you are sending the correct asset. If you require assistance with any part of this process, please contact the exchange’s customer support directly.

    2. When asked to enter an address, enter your Valora Account Number from Step 3. 

    3. Fill in any other relevant information, including the amount, and click “Send” or “Withdraw”. The exchange may charge a fee for this service.

  5. In Valora, you should see a new item on your Home screen under Activity, and your Total Balance (found in the Menu) will increase by the amount transferred once the transaction is completed on the Celo network. This may take up to a few minutes, depending on the exchange you are using.

How do I withdraw funds from my Valora account?

Before withdrawing any funds, remember to note that all wallets do not necessarily support both cUSD and CELO. You can read through the sections above to know more about sending to and from Valora, to help make sure you do not lose any of your funds.

How to withdraw Celo Dollars (cUSD):

  1. Open the Valora app and find the “Send” button at the bottom of the screen.

  2. Enter the target address into the search bar. If you are withdrawing to an exchange you may be able to scan a QR code. To scan a QR code you can use the icon (four green squares) at the top right corner.

  3. Enter your PIN. This step is skipped if you have recently entered your PIN.

  4. Enter the amount you wish to send. Then click “Review” to view the details of the transaction, including the estimated fees and overall total cost of the transaction.

  5. You can choose to add a description to the transaction.

  6. Confirm the details of the transaction are correct, then click “Send”.

  7. The transaction will show in your Activity feed in your Valora Home screen, and the status will update once the transaction is completed.

How to withdraw CELO:

  1. In the Valora app, go to Menu > CELO

  2. If you have CELO in your Valora account, click on “Withdraw CELO”. If you do not have any CELO in your Valora account, you can buy it through the app, or send it to your Valora account from an exchange (see steps in How do I send funds from Valora?)

  3. Enter the address where you want to send CELO. When possible, it’s better to use the paste option (double square icon), or scan the recipient’s QR code (four square icon). 

  4. Enter the amount of CELO you want to send. If you want to send all of the CELO in your Valora account, tap “Max”.

  5. Click “Review” and have a look to ensure Valora completed all information correctly.

  6. Once you’ve confirmed the information is correct, click “Withdraw”.

Get in touch

You can reach us within the Valora app by going to the Menu > Help > Contact.

Email Us

support@valoraapp.com

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