A Simple Swap allows VALR customers to buy any cryptocurrency directly with ZAR (or sell any cryptocurrency to receive ZAR). Previously, customers could only trade Bitcoin (BTC), Ethereum (ETH) or XRP (XRP) for ZAR, but now the ability to trade with ZAR has been extended to all cryptocurrencies.
The main reason we didn't previously have more direct ZAR trading pairs was due to liquidity considerations. To solve this, Simple Swaps pair two liquid markets together in order to bring you a seamless experience of buying or selling any cryptocurrency on VALR directly with ZAR. Simple Swaps use BTC or ETH as a bridge currency to enable your trade. For example, if you wish to buy DOGE with ZAR you can now do that on VALR. To enable this, VALR automatically trades ZAR for BTC and then BTC for DOGE.
Please note that Simple Swaps encompass two trades. One to swap the asset you have for a bridge currency and then a second to swap the bridge currency for the asset you want. You will see both transactions in your transaction history when a Simple Swap is executed.
Charges for Simple Swaps can be found here.