FAQ
What is Valeo?
Valeo is a self-custody cryptocurrency wallet built on the Solana blockchain. It allows you to send, receive, and manage digital assets like USDC and SOL with complete control over your funds. Unlike traditional banks or exchanges, Valeo never holds your cryptocurrency—you maintain full ownership through your private keys.
Key features:
Instant global transactions (settle in ~1 second)
Self-custody design (you own your assets)
Passwordless login with email verification
Biometric security (Face ID/Touch ID)
No account fees or monthly charges
24/7 availability
Is Valeo safe? How are my funds protected?
Yes. Valeo uses multiple layers of security:
Your funds are protected by:
Self-custody architecture: You hold your private keys, not Valeo. We cannot access, freeze, or seize your funds.
Device-level encryption: Private keys are stored in your device's Secure Enclave and never leave your phone.
Biometric authentication: Face ID/Touch ID required for all transactions.
Recovery phrase backup: 12-word phrase enables wallet restoration if device is lost.
Blockchain security: Solana's proof-of-stake network with 1,900+ validators.
What you must protect:
Your 12-word recovery phrase (write it down, store offline)
Your device access (strong passcode, Face ID enabled)
Your email account (used for verification)
Important: Because Valeo is non-custodial, if you lose your recovery phrase, your funds are permanently inaccessible. Valeo cannot recover lost phrases.
Will I need to verify my identity to get a Valeo card?
Yes. When Valeo cards launch, you'll need to complete KYC (Know Your Customer) verification to comply with financial regulations.
What you'll need to provide:
Full legal name and date of birth
Residential address with proof (utility bill or bank statement)
Government-issued photo ID (passport, driver's license, or national ID)
Selfie for identity verification
Why KYC is required: Card issuance is a regulated financial service. Unlike the current Valeo wallet (which is non-custodial and doesn't require KYC), cards interface with traditional banking systems and payment networks like Visa. This means we're legally required to verify your identity to prevent fraud, money laundering, and comply with financial regulations.
Privacy note: Your KYC information is encrypted and stored securely. We only collect what's legally required and never sell your personal data. Your cryptocurrency transactions remain pseudonymous on the blockchain—KYC only applies to card services.
The entire verification process takes about 5-10 minutes, and most applications are approved within 24-48 hours.
How will crypto-to-fiat conversion work when I use my Valeo card?
When you make a purchase with your Valeo card, your cryptocurrency is automatically converted to USD (or local currency) in real-time at the point of sale.
The process happens instantly: You swipe your card at a store for $50 → Valeo checks your crypto balance → Converts $50 worth of USDC to USD at current market rate → Merchant receives $50 USD → Your USDC balance decreases by $50 (plus small conversion fee if applicable) → Transaction appears in your app immediately.
Conversion fees:
USDC/USDT to USD: 0% (since they're already pegged 1:1 to the dollar)
SOL or other crypto to USD: 0.5-1% conversion fee
No hidden markups or spreads
Which crypto gets used first: You'll be able to set your payment priority. By default, stablecoins (USDC/USDT) are used first since they have zero conversion fees. If you don't have enough stablecoins, the card will automatically convert from your other holdings like SOL.
The exchange rate is locked at the moment you swipe, so there's no price volatility risk during the transaction. What you see is what you pay.
What's the difference between Valeo and Coinbase/Binance?
Custody
Self-custody (you hold keys)
Custodial (they hold your crypto)
Ownership
You own assets on blockchain
You have IOU from exchange
Account Control
Only you can access funds
Exchange can freeze account
KYC Required
No (for current features)
Yes, extensive verification
Withdrawal Limits
None
Daily/monthly limits
Transaction Speed
~1 second
Minutes to hours
Fees
Network fees only (~$0.001)
Trading fees (0.5-2%) + withdrawal fees
Trading
Basic swap feature
Full trading platform
Fiat On/Off Ramp
Not yet (coming soon)
Yes, buy/sell with bank
When to use Valeo:
You want full control of your crypto
You make peer-to-peer payments
You value privacy and self-sovereignty
You understand self-custody responsibility
When to use an exchange:
You need to buy crypto with USD/EUR
You actively trade cryptocurrencies
You prefer customer support recovery options
How do I get my first cryptocurrency into Valeo?
There are three main ways:
Method 1: Receive from a friend (Easiest)
Tap "Receive" in Valeo
Show your QR code to friend
They scan and send USDC or SOL
Funds arrive in ~1 second
Method 2: Transfer from an exchange
Buy USDC or SOL on Coinbase, Kraken, or Binance
In Valeo, tap "Receive" and copy your address
Withdraw from exchange to your Valeo address
Wait for exchange processing (1-10 minutes)
Funds appear in Valeo
Method 3: Transfer from another wallet
Copy your Valeo wallet address
Send USDC or SOL from MetaMask, Phantom, or other Solana wallet
Confirm on Solana network
Funds arrive in ~1 second
Important:
Make sure you're sending Solana-based tokens (USDC on Solana, not Ethereum)
Test with a small amount first ($5-10)
Save the transaction ID for tracking
Need fiat on-ramp? Direct bank purchases are coming in Q2 2026. For now, use an exchange to convert USD → crypto, then transfer to Valeo.
What happens if I lose my phone?
Your funds are safe as long as you have your 12-word recovery phrase.
Immediate steps:
Install Valeo on a new device (or use Find My iPhone to locate device)
Tap "Restore Wallet"
Enter your 12-word recovery phrase in order
Your wallet, balance, and transaction history restore completely
Set up Face ID on new device
What gets restored:
✓ Your wallet address
✓ All cryptocurrency balances
✓ Transaction history (from blockchain)
✓ Access to your funds
What doesn't restore:
✗ App settings and preferences
✗ Saved contacts (coming soon)
✗ Face ID (must re-enroll on new device)
If you also lost your recovery phrase: Unfortunately, your funds are permanently inaccessible. This is the nature of self-custody—no one can recover lost keys, including Valeo. This is why we emphasize:
Write down your recovery phrase during setup
Store it in multiple secure physical locations
Never store it digitally (photos, cloud, email)
Verify your backup works
What are network fees and why do I have to pay them?
Network fees (also called "gas fees") are small payments to Solana blockchain validators who process and confirm your transactions.
Key facts:
Typical cost: $0.001 to $0.002 per transaction
Paid to: Solana network validators (not Valeo)
Paid in: SOL (Solana's native token)
Purpose: Prevent spam, compensate validators
Required: Yes, even if transaction fails
Fee breakdown:
Send USDC
~$0.001
0.000005 SOL
Receive USDC
Free
0 SOL
Swap tokens
~$0.002
0.00001 SOL
Failed transaction
~$0.001
0.000005 SOL
Why so cheap? Solana is one of the fastest and cheapest blockchains:
65,000+ transactions per second capacity
Sub-second confirmation times
Minimal network congestion
Efficient proof-of-stake consensus
Compare to other networks:
Bitcoin: $1-50 per transaction
Ethereum: $5-100 per transaction
Solana: $0.001 per transaction ✓
Important: You must have a small amount of SOL in your wallet to pay fees. If you only have USDC, you'll need to swap a small amount (~$1) to SOL for transaction fees.
Can I reverse a transaction if I sent to the wrong address?
No. Blockchain transactions are irreversible once confirmed.
This is a fundamental feature of cryptocurrency, not a limitation of Valeo. Once a transaction is broadcast and confirmed on the Solana blockchain, it cannot be:
Cancelled
Reversed
Refunded by Valeo
Undone by anyone
Why transactions are irreversible:
Blockchain provides immutability and finality
No central authority to reverse transactions
Prevents double-spending and fraud
Ensures trustless system
What you can do:
Before sending:
✓ Verify recipient address (first 6 and last 4 characters)
✓ Send small test amount first to new addresses
✓ Double-check amount and decimal point
✓ Take your time—transactions are instant but final
If you sent to wrong address:
Contact the recipient if you know them
Request they return the funds voluntarily
If sent to your own old wallet, restore with recovery phrase
If sent to invalid address, funds may be lost permanently
Protection features in Valeo:
Address format validation (catches typos)
Confirmation screen before sending
Biometric authentication requirement
Clear transaction summary
Recovery not possible for:
Wrong address (funds go to that address permanently)
Incorrect amount (transaction executes as sent)
Wrong blockchain (e.g., sent to Bitcoin address)
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