If you trade different currency on Luno you must be overwhelmed with their charges. without doubt, luno charges are on the high side and that is why I have come up with an alternative you can use to bypass the mediocre charges from luno.
Yellowcard is a cryptocurrency exchange platform that allows you to By, sell & Store your crypto founded in 2006 by Chris Maurice and entered Africa 2019.
You can buy and sell bitcoin and instantly cash out to your bank account with zero bank transfer charges.
How To start using Yellowcard?
- First, Register an account HERE
- Enter Your Valid Phone Number and password. You will get an OTP code to login on your Yellowcard Account.
- Yellowcard has some restriction upon signing Up as Tier 1 has a transaction limit of N20,000 you need to upgrade to Tier 2 N2million
Click on ‘LIMIT’ and enter your BVN or Valid National Id to upgrade to Tier 2 (Kindly Note that the BVN does not give them access to your bank account) Account Upgrades takes up to 24hours.
How To Deposit
Yellowcard Allows funding using bank transfer, cash and debit/credit card payment.
Using the bank account payment method is something to be done very easily.
Click on Deposit and it will create a virtual bank account for you where you can deposit your cash.
Note down the account number then make the transfer to the provided bank account (you can always find them in your mobile app as Providus Bank) and in few minutes, you will see it visible in your Yellowcard Account.
How To Buy Bitcoin on Yellowcard
Click “Buy” from your dashboard
Enter the amount in Naira and you should see the bitcoin Equivalent.
Click on continue and get your bitcoin credited to BTC wallet
How to Sell Bitcoin On Yellowcard
Click on “sell” on the dashboard click on the amount you want to sell and then click continue
confirm the details and the fiat Equivalent will be credited to your wallet.
How To withdraw to Bank Account From Yellowcard
Click on “withdraw” on the platform
Enter the amount you want to withdraw and Enter your account number and it will be credited.
Charges on Yellowcard are pretty Fair compared to Luno
At the moment, Yellowcard Only Support Bitcoin in the following currencies NGN, ZAR BWP and USD as other cryptocurrencies will be added in the future.
If you stay in Lagos, you can walk into any of their offices for enquiries. You can reach them on social media platforms Telegram and Whatsapp to rectify any issue you face on the platform.