Yellow Card, a cryptocurrency exchange platform, is making inroads in Ghana; offering Ghanaians an opportunity to embrace digital currencies and benefit from their financial advantages.
The company’s mission, according to Peter Mureu – Director of Marketing at Yellow Card, is to provide Ghanaians access to cryptocurrencies and financial independence through a platform that is safe, simple to use, and has a variety of payment choices. More than 200,000 Ghanaians have already signed-up and started using the exchange site.
“Understanding cryptocurrency is not only the future but also another financial investment vehicle to store value, move it around, and even to invest and hedge against inflation. Just like stocks, land or anything that you invest in, crypto is just the same. It’s digitised, and people need to be educated enough to understand that digital currency is just like mobile money – it’s digital money at the end of the day,” Mureu said in an interview with the B&FT.
An important milestone was Yellow Card’s introduction into Ghana’s cryptocurrency market in 2020, even though the brand has been in existence since 2018 – giving Ghanaians the chance to use digital currencies and gain from their financial advantages. With its safe platform, a variety of payment methods and instructional tools, Yellow Card is in a good position to take over as Ghana’s preferred cryptocurrency exchange.
The Director of Marketing says that, for now, raising awareness is a priority in Ghana. The goal of Yellow Card is to debunk bad cryptocurrency stories and demonstrate that they are respectable forms of investment. Mureu pointed out that Yellow Card is a phenomenal business promoting diversity and inclusion, and has employed Africans for perhaps four or five years. To guarantee the protection of clients’ funds, the platform is constructed using simplified security measures.
“Yellow Card can become the go-to exchange for Ghanaians in all things crypto: storing value, hedging against inflation, saving and cross-border transfers across African countries. The number-one benefit is the exchange rates you get when you buy and sell,” Mureu said. “With the ability to have USDT, you have a chance to be able to send money across Africa. With Yellow Card, you are able to move value from one place to another across our 16 countries without any fees.”
Depending on the location, Yellow Card offers a range of payment options such as bank transfers and mobile money. Users can also buy crypto directly from Yellow Card merchants near them. The platform is built on the mission of financial inclusion for all, and Yellow Card seeks to give everyone access to cryptocurrency and the financial freedom it provides.
“Security of our customers’ funds is our top priority. Our distributed system is built from the ground up with streamlined security for both customers and agents, including multi-signature wallets and various other best-of-breed security controls,” Mureu assured.
Mureu pointed out that Nigeria, which has the largest cryptocurrency market in Africa, has made Yellow Card the go-to platform of choice. “Looking at Nigeria, one of the biggest crypto markets, the need has forced people to bring crypto into their daily lives because it’s easier for you to be able to move money between crypto and naira than you having U.S. dollars in cash and moving it. It’s safer to have crypto because it’s digitised money,” he said.
Prior to making an investment or downloading the Yellow Card app, Mureu emphasised the significance of educating people about cryptocurrencies. For those who want to learn more about using Bitcoin, its advantages and potential hazards, the Yellow Card Academy provides free instructional materials. He highlighted that like stocks and real estate, cryptocurrencies are a viable form of investment. He advised Ghanaians to start small and put aside just US$5 or US $1 to test out the system.