Yellow Card is a cryptocurrency exchange platform present in many regions of Africa. It is an on-/off-ramp that uses local currency to purchase or sell supported cryptocurrencies (BTC, ETH, USDT, ADA, SOL, USDC, Matic, XAUt, and cUSD). The platform enables users to purchase and sell Bitcoin and other cryptocurrencies in Africa, utilizes various payment methods, and offers low fees at competitive rates.

What is Yellow Card?

Yellow Card is a financial services firm that focuses on bitcoin exchanges, payment solutions, and offerings. It is a pan-African cryptocurrency exchange that provides African users with the most secure means to purchase, sell, and trade digital currency. In the past four years, its expansion has been driven by the rising demand for digital tokens for diverse applications, including stable coin savings, revenue creation through trading, and payment facilitation. This has significantly contributed to the acceptance of cryptocurrencies.

Yellow Card upheld regulatory compliance measures at the highest worldwide standards. They adhere to all international anti-money laundering standards and Financial Action Task Force travel regulations and know your customer obligations across all territories. Another illustration of Yellow Card establishing a standard for compliance among cryptocurrency companies is their license in Botswana. On September 29, 2022, Yellow Card became the inaugural cryptocurrency startup to receive a Virtual Asset Service Provider license to operate in Botswana.

Background of Yellow Card

Yellow Card was established in 2016 by Chris Maurice in the United States and is now present in other African nations, headquartered in Atlanta, Georgia. Chris Maurice is the Chief Executive Officer, and Justin Poiroux is the Chief Technology Officer of Yellow Card. In 2018, Chris Maurice (CEO) and Justin Poiroux (CTO) encountered an individual who transferred $200 from the United States to his relatives in Nigeria. The financial institution imposed a fee of $90. In 2019, Yellow Card was established in Nigeria to provide “basic financial services for all,” subsequently expanding to 20 African nations.

In 2020, Yellow Card raised $1.5 million in a seed round with notable investors such as Celo and Polychain. As part of the company’s commitment to improving financial literacy in Africa, the Yellow Card Academy was launched in 2021. Customers increased from 1 million in 2022 after the company became the first company in Africa with the VASP license to operate in Botswana to 1.7 million customers in 2023. The Yellow Card Payment API was launched the same year to connect local businesses to local fiat on/off ramps across Africa. Yellow Card is accessible in Nigeria, South Africa, Kenya, Cameroon, Tanzania, and Botswana.

Yellow Card Features

• Security: Users’ assets are secure with Yellow Card due to its utilization of multi-signature wallets. Their distributed system is constructed from the foundation with optimized security for clients and agents.
• Simple registration: The exchange permits registration using the user’s name, email address, and phone number to begin buying and selling cryptocurrency.
• Optimal rates: This platform offers exceptionally competitive rates for the purchase and sale of cryptocurrency. You can securely exchange your assets for fiat currencies at optimal rates.
• Effortless withdrawal: This exchange’s withdrawal process is easy. Instant cash withdrawal is always available. Users may withdraw directly to their bank account or obtain cash from nearby shops.
• No trading fees: Trading on the Yellow Card incurs no costs, which is one reason it is suitable for investors.

Yellow Card App

The Yellow Card app is a Pan-African financial technology firm enabling users to purchase, sell, and store cryptocurrencies and stablecoins. The application is accessible in 20 nations, including Nigeria, Ghana, Uganda, Kenya, Zambia, the Democratic Republic of the Congo, Côte d’Ivoire, South Africa, Tanzania, and Gabon. Yellow Pay utilizes Yellow Card’s cryptocurrency exchange platform to execute consumer transactions in USDT. Yellow Pay is not a money remittance or foreign currency exchange service.

Users can buy, liquidate, and preserve cryptocurrencies like Bitcoin, Ethereum, and USDT with the Yellow Card App. Users can also finance their wallets using local payment methods, including bank transfers and mobile money. Using Yellow Pay, users can also transfer funds to fellow Yellow Card users in Nigeria and 21 additional African nations.

Since the product’s introduction in Nigeria, a notable enhancement has been that consumers can now transfer money to any individual in all Yellow Card nations using only their phone number, enabling the recipient to receive and withdraw the money upon registration. Previously, only existing customers could send and receive with Yellow Pay. Transfers within the same country are now complimentary.

Features of Yellow Card App

• Diverse payment alternatives: Replenish your wallet using local payment methods such as bank transfers, mobile money, and credit card transactions.
• Competitive pricing: Engage in purchasing and selling cryptocurrencies at advantageous rates.
• No trading fees: Engage in cryptocurrency trading that is devoid of any transaction fees.
• Secure cryptocurrency wallet: The application prioritizes the safeguarding of your funds.
• Yellow Pay: Transfer funds instantaneously to Nigeria and 21 additional African nations.

How Does Yellow Card Work?

Yellow Card enables the instantaneous sending and receiving of cryptocurrency across any platform. Users may safely store funds in their Yellow Card wallet until they are prepared to withdraw.

How to buy coins on Yellow Card?

To purchase any of the accepted cryptocurrencies on Yellow Card, users must go to the following straightforward steps:

• Create a Yellow Card account or use your existing account.
• Replenish their local currency wallet using their chosen payment method—instructions for funding your wallet.
• Access their dashboard, select “Buy,” and choose the desired cryptocurrency.
• Specify the quantity they wish to purchase in their native currency: USDT, USDC, USD, BTC, SOL, ADA, Matic, XAUt, and CUSD. Subsequently, select “Next.”
• Examine and validate the details.
• Upon confirmation of the details, their wallet will be immediately credited with the purchased coin.

How to sell coins on Yellow Card?

To sell coins on Yellow Card, users must follow these steps:

• Register for a Yellow Card account or access your account if you are a current user.
• Press “Sell” and choose the cryptocurrency they wish to divest.
• Input the quantity they wish to sell in your local currency, USDT, BTC, or USD, then select “Next.”
• Examine and verify the details.
• Upon confirmation of the details, their local currency wallet will be funded immediately. They may transfer funds from their local currency wallet to their bank account or convert them to cash at any moment.

How to receive coins into your Yellow Card wallet?

A wallet is automatically established for each supported cryptocurrency upon establishing a Yellow Card account. Users can get their digital assets in these wallets when other Yellow Card users transfer coins or from external wallets. For users to receive coins in their Yellow Card wallet, go to these steps.

• Create a Yellow Card account or use their existing account.
• Choose the coin they wish to receive from their dashboard.
• Select “Receive.” Duplicate the wallet address and transmit it to the receiver. You can also scan the QR code directly from the originating wallet.
• Upon the successful transmission and confirmation of the coin, it will be shown in their wallet.

How to send coins from your Yellow Card wallet?

Users must follow these steps to send coins from their Yellow Card:

1. Sign up for a Yellow Card account or log in to their account if they are an existing user.
2. Select the coin they want to send from their dashboard.
3. Select “Send.”
4. Enter the amount they want to send in their local currency, USDT, BTC or USD, and tap “Next.”
5. Select the destination they want to send the crypto tokens to. They can send it to another Yellow Card user using the “Wallet Address” or “Phone Number” options. They can also use the “Email Address” option to send to another Yellow Card user or an external wallet.
6. Input the preferred destination—the receiver’s wallet address, phone number, or email address.
7. Review and confirm the details.

What is Yellow Pay?

Yellow Pay is an efficient and safe method for instantaneous, cost-free cross-border financial transfers utilizing stablecoins. USDT supports it, so Yellow Pay rates are determined based on the US dollar. This gives customers access to quick, borderless transactions at competitive rates and costs. Upon creating a Yellow Card account, users can remit payments to vendors or receive payments from clients using stablecoins from Nigeria, Malawi, Botswana, Rwanda, and 20 additional African nations.

How Does Yellow Pay Work?

Yellow Pay enables users to transfer payments to recipients’ registered mobile numbers. The recipient obtains the corresponding amount in their local currency according to the prevailing exchange rate. If they are not Yellow Card customers, they will receive a registration notification. Upon receipt of the cash, recipients can immediately withdraw the corresponding amount in their local currency to their bank account or Mobile Money (MoMo).

Users must ensure they own a Yellow Card account linked to their registered cellphone number to receive cash with Yellow Pay. Upon receipt of funds, a notification will be issued, allowing customers to withdraw the same amount in their local currency. Yellow Pay efficiently manages currency conversion, enabling users to quickly transfer and receive cash in local currencies.

Benefits of Yellow Pay

• Immediate transactions: Clients can transfer and receive funds instantaneously without additional fees.
• Elimination of remittance expenses: Customers are not required to purchase dollars using their local currency and convert them back to the local currency in the destination country.
• Withdraw funds to a bank account or cash out at a mobile money agent: Customers may withdraw funds to their bank account or cash out at a mobile money agent.

Trading on Yellow Pay

• Create an account: Sign up for a free account with your name, email and phone number.
• Fund your account: Choose your preferred payment method (bank transfer, mobile money) to deposit money into your account.
• Start trading: Start buying or receiving the most popular coins on the market into your wallet.

Conclusion

Yellow Card is Africa’s largest and most inaugural licensed stablecoin on/off-ramp, offering secure and economical solutions for purchasing and selling USDT, USDC, and PYUSD using your local currency directly and through our Payments API. Yellow Card supports digital currencies such as Bitcoin, Ethereum, and Tether (USDT). The exchange accommodates fiat currencies, including USD, GHS, NGN, ZAR, BWP, XAF, KES, TZS, UGS, and ZMW. The exchange offers payment methods such as cash, bank transfer, debit/credit card, and mobile transfer.