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The bottom valve is the most-replaced part on an IBC, and the part with the most variation across manufacturers. Here is what each common option changes about how the tote actually operates in your line.
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Ball valves are positive shut-off, lower-pressure-drop, and slightly more durable. Butterfly valves are typically cheaper, slightly slower to open and close, and tolerant of suspended solids in the product. For most industrial liquids either will do; for products with particulate the butterfly is the safer call.
Two-inch is the industry default and what your transfer pump is almost certainly plumbed for. Three-inch valves exist for high-flow drain applications (under-truck unloading, gravity drains into large reactors) but require pump-end adaptation.
A leaking valve is almost always a gasket or seat issue, not a bottle issue. Swap the valve; do not replace the tank. We sell replacement valves and gaskets a la carte for exactly this case.