USDC FAQs And Self-Help Processes

VALR (pronounced “Valour”) is a regulated cryptocurrency exchange in South Africa. It is a Crypto Asset Service Provider (CASP) licensed by South Africa’s Financial Sector Conduct Authority (FSCA).
VALR offers the ability to buy,store and sell United States Dollar Coin (USD Coin)

For more information about who VALR is, you can visit their website – www.valr.com

NOTE: ALL customer support/servicing will be contact Mukuru

Cryptocurrency is a digital asset in which transactions are verified and records are maintained by a decentralized system (the block chain). These currencies can be created by individuals, private or public institutions, but are generally created by private entities.

USD Coin, specifically, is managed by Centre, a joint enterprise between regulated peer-to-peer payment provider – Circle – and one of the largest crypto exchanges in the world – Coinbase. 

Mukuru currently only offers the ability for customers to buy, hold and sell USD Coin, a cryptocurrency known as a stablecoin, which is pegged to the USDollar.

The only currency pair available through the Mukuru and VALR partnership is ZAR-USDC / USDC-ZAR.

USD Coin (USDC) is a type of cryptocurrency known as a stablecoin.

USD Coin value is tied to the US Dollar (USD). 1 USD Coin is worth 1 USD

Every USD Coin token in circulation is backed by $1 USD in cash or cash equivalents, such as short-term U.S. Treasury bonds held by regulated U.S. financial institutions.
USD Coin is managed by Centre, a joint enterprise between peer-to-peer payment provider – Circle – and one of the largest crypto exchanges in the world – Coinbase. 
This offers a secure and transparent way to gain exposure to value pegged to the Dollar and provides a stable digital asset to store funds.

You need to be a registered Core or Max Mukuru Customer. As a verfied Mukuru Customer you can select “Invest” on Mukuru’s WhatsApp channel and follow the prompts to sign-up in minutes.

This product is currently only available to verfiied Mukuru Core and Max customers in South Africa. You may need to verfy and provide more details in order to access this product. Contact Mukuru on +27 860 018 555 to upgrade.

Once fully verified you will then be able to access the USD Coin Wallet menu and have access to the Product.

Currently, the product is accessible via Mukuru’s WhatsApp channel.

You can sign-up via Mukuru’s WhatsApp channel.

On the Main Menu

1. Select “Save in Dollars” Follow the prompts to sign up for your USD Coin Wallet:
2. Verify or create your 4-digit pin to secure your Wallet
3. Read through some information to ensure you’re fully informed with the product
4. Accept terms and conditions
5. Confirm and verify your details

Currently, through Mukuru’s platforms, we have only made USD Coin available.

Creating a Wallet, and signing up is completely FREE. No sign-up fees required.

Because the USD Coin’s value is designed to be pegged to the US dollar, it provides a mechanism to hold your money in an asset that has, relativlty lower price volatility and
⁠Investing in USD Coin gives you the potential to help preserve your money’s value—even when the Rand slides.
⁠Mukuru provides Instant access to buy and sell USD Coin with VALR, within seconds through Mukuru’s WhatsApp channel.

Be sure to do your own research and understand the risks before investing. Trading or investing in crypto assets involves risk and may result in capital loss due to market fluctuations or regulatory changes.

Trading or investing in crypto assets involves risk and may result in capital loss due to market fluctuations or regulatory changes.
USD Coin is a cryptocurrency asset with some risks. Ensure you understand these risks before investing.
Just like any currency, the value of USD Coin can go up or down over time and may result in the loss of money.
Cryptocurrencies are evolving and regulatory changes and market dynamics can impact their value and access.

Just like any currency, the value of USD Coin can go up or down over time and may result in some loss of money. Be sure to do your own research.

The value of your USD Coin in South African rand (ZAR) depends entirely on the USDC/ZAR rate at the time you convert. Because USD Coin is a stablecoin pegged to the U.S. dollar, one USD coin will always be worth approximately one USD—but the amount of ZAR you receive per USD Coin will rise and fall with the market.

There is no guaranteed return. Because rates are can go up and down overtime, there’s no reliable way to predict exactly how many rand you’ll end up with in the future.

Your USD Coin balance won’t change. If you buy X USDC today, you will still have X USDC in your Wallet tomorrow, next month, or next year.

Your ZAR proceeds will vary. To know how much ZAR you’ll get when you sell, you can see this as a quote at that moment in time.

From your USD Coin Wallet menu, select Buy USD Coin or Sell USD Coin, then enter the amount you wish to transact. You will be shown the rate along with the estimated ZAR you’ll receive when selling, or the USD Coin you’ll receive when buying.

During the sign-up process for your USD Coin Wallet, you will be asked to secure your Wallet with a 4-digit Mukuru pin. Do not share this PIN with anyone. If you already have a 4-digit Mukuru PIN, you will be asked to confirm the pin. This will be the same pin used for both Mukuru card and your USD Coin Wallet

If you already have a 4-digit Mukuru Pin. You will use the same Pin to access your USD Coin Wallet. This would be the same pin you use to access your Mukuru Card on the App, USSD and WhatsApp channels.

No. This is not a feature part of the product. The USD Coin Wallet only allows for customers to Deposit, Trade (Buy and Sell) and Withdraw.

Only with the Mukuru Card you are able to send Money (Rands) to other Mukuru Card holders.

No. This is not a feature part of the product. The USD Coin Wallet only allows for customers to Deposit, Trade (Buy and Sell) and Withdraw.

Only with the Mukuru Card you are able to make payments with your card at retailers in South Africa.

You will be able to see the value of your USD Coin at anytime via the USD Coin Wallet menu.
From the Mukuru Menu:
1.Select “Save in Dollars”
2.Enter your 4-digit Mukuru Pin
3.You will be able to see both your ZAR and USD Coin balances from the menu. You can see the current rate by selecting buy USD Coin or Sell USD Coin to see how much value you can receive for your USD Coin or ZAR.

You can contact us via the following methods:

Chat with us via Whatsapp: Say hi to +27 86 0018 555 on WhatsApp and Select Help Me. Select “Save in Dollars” and start a chat with an agent.
Call us on +27 86 0018 55 for further assistance.
Email us at [email protected].

You can learn more about the product by selecting “Save in Dollars” from the WhatsApp menu or view more information can also be found on our website.

For more information on VALR – Vist VALR’s website – www.valr.com
For More information on USD Coin and Circle – visit www.circle.com/usdc

You will be able to keep money in your Wallet as long as you like and as long as the product is available with no additional fees. There is no time limit.

VALR does not provide tax forms or statements.

It is the customer’s responsibility to determine if any taxes apply to the trades completed through VALR. We will provide the customer with a full Transaction history from VALR, which they can use for their own tax reporting.

If you require a record of your trade history, contact Mukuru to assist.

USDC (USD Coin) is a stablecoin that is pegged to the US Dollar. It’s backed by real U.S. dollars and equivalents and issued by a regulated company called Circle. Because its value doesn’t change much, it’s great for everyday transactions and protecting your money during market ups and downs.

Bitcoin (BTC), on the other hand, is a decentralized cryptocurrency with a limited supply.Its price can go up or down a lot.Unlike USD Coin, Bitcoin isn’t controlled by any company or government—it runs on a global network of users ,which makes it more unstable and unpredictable.

No, through your USD Coin Wallet on Mukuru’s platform, you do not earn interest.

No, through your USD Coin Wallet on Mukuru’s platform, you do not earn interest.

VALR prioritizes the security of your cryptocurrencies and account through robust measures. For coin storage, VALR uses a combination of cold storage, warm, and hot Wallets. Cold storage involves keeping private keys offline in highly secure, geographically dispersed vaults with multi-signature transaction requirements. Hot Wallets, necessary for operational liquidity, employ multi-signature keys managed through secure cloud services. For more information, please see here: https://support.valr.com/hc/en-us/articles/360019061091-How-does-VALR-keep-my-cryptocurrencies-safe

No, customers holding USD Coin on the Mukuru platform will only be able to access their USD Coin balances via Mukuru’s platforms.

No, you cannot send USD Coin from Mukuru to VALR or from VALR to Mukuru. If you want to withdraw funds, you would need to sell your USD Coin and cash-out through Mukuru’s payment network.