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With cryptocurrency becoming popular in Africa and following thelaunch of Yellow Card in Rwanda, you must have come across terms such as blockchain, business-consumer model, peer-to-peer cryptocurrency, digital wallet, bitcoin, among other terms.

What is cryptocurrency? Cryptocurrency refers to the digital currency that uses blockchain technology and enables users to send and receive payments from anywhere in the world.

To begin trading in cryptocurrency, you require a digital wallet. Crypto wallets allow users to save their cryptocurrency passwords, popularly known as keys, in a central location. Users use their private keys to access the cryptos. While anyone can deposit cryptocurrency via the public address, funds can only be withdrawn from the wallet using a randomly generated private key.

Notably, there are many platforms offering cryptocurrency trading services. People interested in buying and selling cryptos visit these platforms to meet other interested buyers and sellers.

About Yellow Card in Rwanda

Yellow Card is one of the leading cryptocurrency platforms guaranteeing a secure trading environment for African crypto investors. Yellow Card's concept is entirely aligned with the company's CEO's vision - to ensure security and minimize risks during crypto trading.

Mainly, instead of operating on a widespread peer-to-peer basis, Yellow Card allows users to transact based on a secure business-to-consumer model.

Before Yellow Card was founded, the company's CEO, Chris Maurice, had fallen victim to fraud. Although he believed he had made the right investment decision by investing in bitcoin then, he lost thousands of dollars in the process.

Also, there are thousands of other investors who have lost billions of dollars. For instance,in 2019, over US $4 billion was lost in cases of scams. Many cryptocurrency traders with little knowledge about the trade fell victims to fraud.

Chris, on his part, armed with the lessons learned after the fraud experience, developed a vision to transform the cryptocurrency trading landscape. He is still determined to ensure a safer cryptocurrency trading environment through the Yellow Card platform.

In Rwanda, Yellow Card will be helpful to many Rwandans looking for convenient and safe ways to carry out digital transactions. The platform gives users the freedom to conveniently and safely buy, sell or store their cryptocurrencies.

Benefits of Using Yellow Card in Rwanda

The following are notable benefits of using Yellow Card for cryptocurrency transactions:

Minimum requirements

Yellow Card allows cryptocurrency to trade with minimal requirements, unlike the traditional currencies where one may be required to go through a tedious process of opening a bank account.

In cryptocurrency, you only need to set up an account on the Yellow Card platform by providing basic personal information.

Security for cryptocurrency trading

Cryptocurrency is one of the targets by fraudsters to defraud innocent traders who have little information about cryptocurrency. Yellow Card guarantees top-notch security to its platform users. Users dont have to worry about losing their hard-earned money.

The cryptocurrency traders use unique passwords to ascertain the ownership of the specific blockchain address and to verify transactions too. The keys protect the blockchain owners from fraud and unauthorized access, hence guaranteeing security.

Fees

Yellow Card charges zero feesfor transactions; hence users do not have to worry about exorbitant costs.

Many users prefer carrying out transactions on Yellow Card accounts, especially receiving remittances from abroad and avoiding costly transaction processes via traditional currency exchanges.

Mobile Accessibility

The Yellow Card has an application that is accessible on smartphones.

Using the internet, users can conveniently download the application or open the Yellow Card platform through the web browser right from their mobile devices.

Yellow Card Academy

Since many potential cryptocurrency users doubt the credibility of Yellow Card and crypto,Yellow Card Academyoffers information on cryptocurrencies, blockchain technology, and general financial literacy.

Yellow Card is committed to empowering its users through Yellow Card Academy, where users access information helpful in building their financial literacy.

Partnership with SPENN

Yellow Card has partnered with SPENN,an easy-to-use and popular Android banking app by Access bank.

Using the online banking application, cryptocurrency traders can instantly deposit or withdraw funds without incurring additional charges.

24/7 Customer Service

Yellow Card offers 24/7 customer support.

If you face a challenge while using the platform, you can contact their customer support at any time. The customer support team will respond promptly.

How to Set Up an Account

Signing up for a Yellow Card account is straightforward. Follow these easy steps:

Set up your account. You can sign up via your favorite web browser or mobile device by first downloading the Yellow Card Android or iOS app. Click "sign up"/and enter your basic information, then click "submit."

You will be redirected to a verification page. Also, you will receive a 6-digit PIN via SMS message, which you should enter to complete the phone verification and account sign-up process.

Importantly, signing up for a Yellow Card account is absolutely free.

Deposit funds into your account. Once your account is up, you need to fund it. The minimum funds you should deposit into the account is RWF100. You can deposit money into the account through electronic money transfer or other permitted payment methods.

Notably, depositing and withdrawing funds on Yellow Card is instant. You can deposit or cash out anytime without unnecessary waiting time.

Begin buying and selling crypto. After confirmation of the deposit, the funds reflect in your account balance, and you can start buying and selling cryptos.

There are a variety of cryptocurrencies you can trade-in. These include Bitcoin, Ethereum, and Tether. The platform charges zero hidden trading fees.

Get Started

Yellow Card is committed to offering Rwandans a fast, efficient, and secure way to transact.

Whether you are a beginner or you have already invested in cryptocurrency, you have a chance to succeed in cryptocurrency trading by studying the strategies of cryptocurrency trading on the Yellow Card Academy.

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Read more here:
FEATURED: The rising adoption of cryptocurrency in Rwanda - The New Times