Auto-Buy is the easiest way to buy Bitcoin (BTC), Ethereum (ETH) or XRP (XRP) directly from your bank account. As soon as we receive your funds, we'll buy BTC, ETH or XRP for you and credit it to your VALR account. All you have to do is make an EFT payment using your unique Auto-Buy beneficiary reference for the selected crypto.
You'll be able to buy BTC, ETH or XRP daily, weekly or at any interval of your choice using Auto-Buy. Just schedule recurring EFT payments from your bank and we'll do the rest.
Auto-Buy makes it easy to buy crypto in one step by depositing ZAR using your Auto-Buy reference. It's useful for:
- Making a one-time purchase of crypto without having to remember to log in and trade once funds have reflected in your VALR account;
- Setting up recurring payments from your bank account in order to average into crypto on a regular basis.
To differentiate between ZAR deposits that are credited to your ZAR wallet and Auto-Buy deposits that are used to buy crypto automatically, a new unique reference is generated for each crypto that is enabled for Auto-Buy. You can find the unique Auto-Buy deposit reference for each supported crypto by clicking on Auto-Buy Crypto on the wallets page. You will then be prompted to choose which crypto you wish to Auto-Buy.
A few things to keep in mind:
- Auto-Buy deposits send a simple trade instruction to buy crypto when that ZAR deposit is credited to your VALR account;
- Simple trades are analogous to market orders, so Auto-Buy deposits are limited to R10,000 per individual deposit in order to protect against slippage;
- If you make a deposit of more than R10,000, auto-buy will fail, the full ZAR value of that deposit will be credited to your VALR account and we'll send you an email notification to let you know your deposit exceeded the Auto-Buy limit;
- Only deposit from a bank account in your own name;
- Please don't make multiple Auto-Buy deposits of the same value on the same day, your second deposit will be delayed in these cases;
- VALR reserves the right to request proof of payment in any instance where a deposit is made, this may delay Auto-Buy in these instances.
- VALR only supports three cryptos for the Auto-Buy feature at the moment: Bitcoin (BTC), Ethereum (ETH) and XRP (XRP)