Set up your Recovery Phrase
Before you can securely send funds to your Valora account, you will want to set up your Recovery Phrase. If you send any funds before setting up your Recovery Phrase, you could lose those funds permanently. Read more about your Recovery Phrase.
Remember to only send funds to a wallet that support the asset you are sending.
Although Valora supports CELO, cUSD, and cEUR, other wallets do not necessarily support this feature. So when sending to either another wallet or to an exchange, it’s important to ensure you send an asset supported by the wallet or exchange. Doing otherwise might mean you could lose those funds permanently.
Double-check Account Addresses
Celo is a network that records and secures transactions using blockchain technology. This means that it’s important for you to send funds to the correct address. If not, it means you could lose those funds permanently. You can double-check the first 4 digits and last 4 digits of any Account Address where you want to send funds for the first time. You can do this whether you enter the Account Address manually, or if you copy and paste the address.
By connecting your phone number you can use your friend’s phone numbers instead of their Valora Account Address and reduce the risk of sending funds to the wrong account. Read more on connecting your phone number..
Do a test transaction
Whenever you send money to a new account, it’s best to always send a test transaction with a small amount (less than $0.10 cUSD) if possible and confirm the amount arrived with the recipient. This will ensure that:
You are sending to the correct address
You are sending to an account or address that supports that asset
Both accounts have been properly set up