If you signed up on VALR using a referral code, or if you have successfully referred others, you are eligible for trading fee rebates.
You normally receive a 10% rebate on your own trading fees. This increases to 15% once you have successfully referred five or more people.
All eligible users have a rebate cap of approximately $100 (regardless of the rebate percentage). Referral commissions are different and remain uncapped.
Your rebate cap is tracked in a reference currency (e.g. USDC). Every rebate you receive is converted to this reference currency using the prevailing exchange rate on the day of the trade. Once the total value of your rebates reaches approximately $100, the cap is hit and you stop receiving further rebates.
Example:
Day 1: You receive a rebate of 0.0001 BTC.
BTC price that day = $50,000.
This rebate is worth $5.00 toward your $100 cap.
Day 2: You receive a rebate of 0.0009 BTC.
BTC price that day = $51,000.
This rebate is worth $45.90 toward your $100 cap.
Total so far: $50.90
Once the total value of your rebates reaches approximately $100, the cap is reached and rebates stop.