Yellow Card, a leading Africa-focused finance platform for trading cryptocurrencies has finally arrived in Kenya. The company claims it already has offices in 9 African countries, allowing customers from Nigeria, Botswana, Cameroon and South Africa, and others, to buy and sell crypto through its platform. “Yellow Card is a cryptocurrency exchange on which you can buy or sell supported cryptocurrencies with your local currency,” reads Yellow Card’s official website.
The company “offers a secure cryptocurrency wallet with which you send, receive, and store your cryptocurrencies. You gain access to your personal crypto wallets once you sign up for a Yellow Card account.” The platform will automatically create users a virtual wallet for every type of crypto they wish to deal in. “You can receive cryptocurrency into these wallets when other Yellow Card users send you tokens or from external wallets.”
What is Yellow Card?
Founded in 2016 in Lagos, Nigeria, Yellow Card also seeks to partner with local merchants in countries and accelerate digital payments and e-commerce through crypto trading.
“The company partners with local merchants, vendors, and convenience stores to sell their vouchers and once the customer purchases the voucher, they redeem it for cryptocurrency through a mobile platform and they can even send money to their family or buy whatever they may need online, allowing even bankless individuals to participate in e-commerce,” reads a blurb about Yellow Card from Startups List Africa.
For Kenyan users, there are 3 types of cryptocurrency that can be traded on Yellow Card. These are namely Bitcoin, Ethereum, and Tether. All of which can be traded without any hidden fees, the company says.
At the top of its list of priorities, Yellow Card is focused on the security of its customers’ funds and e-wallets. The platform uses a distributed security system built from the ground up that specialises in its particular trading scheme.
The system is streamlined for both customers and agencies, using multi-sig wallets to ensure user funds are airtight.