Cryptocurrency is just money in digital form which can be spent or transferred from one digital wallet to the other like you send an email or text message, and unlike your local currency it’s decentralized, no nation or bank controls it so you don’t need one to transact with it.

It’s called cryptocurrency because of its use of cryptography for network security & regulation of monetary units.

Cryptocurrency came to be when the Bitcoin was created in 2008 by an unknown person or group of persons known as Satoshi Nakamoto and is now the fastest-growing monetary system globally.

Blockchain: This is a string of ongoing digital records created within a distributed network. Each block is a continuation of the previous block, carrying all the transactions earlier recorded, and when linked together these become a chain of blocks filled with information, blockchain.

Common Cryptocurrencies:

Bitcoin: This is the world's first peer-to-peer decentralized digital currency created in 2008 by an unknown person or group of persons known as Satoshi Nakamoto.

Ethereum: Ethereum is an open source, global, decentralized platform for money and new kinds of applications. Its cryptocurrency is used by applications built on Ethereum as platform fees to keep the applications running.

Litecoin: Litecoin is a peer-to-peer digital currency with the same source code as bitcoin. It is a cryptocurrency as it utilizes cryptography to secure the Litecoin network, verify transactions, and regulate the creation of new coins. It was created in 2011 as a complement to bitcoin.

Stellar: Stellar is an open source, decentralized protocol for digital currency to fiat money transfers. The cryptocurrency, originally known as stellar, was later called Lumens or XLM to differentiate it from the protocol. It was created in 2014.

Dash: Dash (formerly called Darkcoin) is a fast payment cryptocurrency that was built using a copy of the Bitcoin source code in 2014, however, some significant improvements have been made to it that makes it’s major holders vote on network governance & use.

Cryptocurrency can be used as a medium of exchange in any kind of transaction as there is a growing use for it globally.

For some it’s a store of value like real estate or gold to preserve wealth because of its limited supply, while others see it as an expression of freedom from restrictions on financial transactions due to its decentralized design & low barrier of entry.

Cryptocurrency transactions are also cheaper than using traditional remittance services.

Advantages of Crypto over fiat:  

1. Cryptocurrency transactions are cheaper.
   In a typical credit/debit card (fiat) transaction, there are actually 5 parties involved: consumer, merchant, issuer, acquirer, and the switch. These several layers incur high fees, especially when it’s international.
   One of the prominent features of cryptocurrencies is that users are not required to pay huge transaction fees. The transactions, in most cases are nearly free.
   
2. Cryptocurrency transactions are secure and anonymous.
   Sometimes when making payments in cash paper money could be counterfeit, but there is no way to counterfeit Bitcoin or another cryptocurrency. Cryptocurrencies use cryptographic protocols - extremely complex code systems - to protect sensitive data transfers. These protocols also shield the identities of cryptocurrency users, making transactions and fund flows difficult to attribute to specific individuals or groups.
   
3. Better store of value.
   One of the major attributes of money is its ability to function as a store of value, but with the rising cases of inflation globally this is no longer the case with fiat. This is where cryptocurrencies like Bitcoin which has a limited monetary supply come to the rescue. 

You can store your cryptocurrency in a secure digital wallet like Yellow Card and can send & receive accordingly with your wallet address.

A wallet address is to a cryptocurrency wallet what an account number is to a bank account, you send & receive cryptocurrencies with it.

Software wallet: A software wallet is a cryptocurrency application that sits on your computer's hard drive and allows you complete control and great security, because each cryptocurrency you hold is only accessible on your own computer.

Online wallet: Online wallets also called web wallets are wallets that run in your web browser just like any other website.

Mobile wallet: A mobile wallet is a cryptocurrency application that is in your phone very much like a PC wallet.

Hardware wallet: Hardware wallets store your coins on a hardware device like a USB drive.  Even though hardware wallets make transactions online, they are stored offline which helps to increase security. Hardware wallets can be compatible with multiple web interfaces.

Paper wallet: A paper wallet is an offline mechanism for storing cryptocurrency. The process involves printing the private keys and Bitcoin addresses onto paper. Whatever can happen to cash can happen to a paper wallet so safekeeping is advised.

Sign up for an account
Sign up for an account online or on our app, it’s quick and easy.

Load your Account
Choose from our multiple payments options: Credit Card, Debit Card, Cash or Bank transfer to load your account.

Start Trading Cryptocurrency
Instantly buy the crypto of your choice. The crypto will appear in your Yellow Card wallet in seconds.To learn more how to use the Yellow Card platform visit the Learn Page