How We Ensure Security On Yellow Card
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April, 3 2023
Our mission here at Yellow Card, “Financial inclusion for all”, is pursued with our customers as our priority. For us, providing financial inclusion also means prioritising our customers' security and the security of their assets.
We value our customers' trust in choosing Yellow Card in their crypto journey. This is why we employ state-of-the-art security measures and data security controls across all our platforms to ensure the safety of our customers' assets.
Working with the most experienced security professionals in our teams and alongside partners, we have fortified Yellow Card with strict security protocols to create a sustainable, secure foundation for our customers to access crypto.
With our no-nonsense regulatory and compliance structure and advanced data security measures, we set in place innovative mechanisms to protect the customers we serve. This article highlights the process we have put in place to ensure the security of our customers and their assets.
Yellow Card’s Platform Security Measures
- AML and KYC Compliance:
We request certain details from customers when signing up per the KYC and AML (Anti-Money Laundering) standards of the countries in which we operate. This ensures that our clients can safely buy, sell, or store cryptocurrencies on our platforms.
We collect this information as an internal security measure to ensure that we always follow local laws and international standards while protecting our clients. This helps with the safe recovery of your account in a situation you lose access to your account.
- Multi-factor Verification
We offer the best protection to your assets with our multi-factor verification tools. When signing up, users verify their email address, create a security password to secure their account and a secure pin to verify their transactions.
Two-factor authentication (2FA) and One Time Password verification are alternative measures we offer customers to secure their accounts. You can enforce 2FA on your account, allowing you to use another medium such as a unique password sent to your device anytime you wish to access your account. OTP passwords are also sent to your account to verify that you are the one trying to access your account.
These multiple layers of protection ensure that in a situation of a security breach, hackers will face limitations in accessing customers’ funds. Multi-factor verification provides an extra layer of protection to your account, and you are automatically enrolled once you sign up.
- Organisational Security
We prioritise your security which is why our organisation is structured to ensure that your safety isn’t compromised. Our employees undergo a series of security and privacy policies training to ensure compliance with our security measures when dealing with sensitive data. All devices that access customers' data are guarded with state-of-the-art security protection to ensure that your assets and data are not compromised.
- Data Privacy and Advanced Data Encryption
We understand the sensitivity of passwords and data stored in our database; this is why your data and passwords are encrypted for security. With our top-notch advanced data encryption model, nobody can read or decrypt your passwords, not even us. They are strictly yours and known to you alone.
We also ensure that when creating a password for their account, customers use a strong and secure password to protect their data and assets.
- Real-Time Monitoring
We are on the lookout for threat indications in third-party data breaches and automatically secure your login credentials if it appears that your account is at risk. If you notice any suspicious behavior, you can utilise our simple process to lock your account automatically and prevent any future activity or transactions.
We recognise the significance of security research in keeping our community safe. That's why we're constantly updating our apps with the most up-to-date security features, checking for vulnerabilities that could jeopardise your data while ensuring quick and easy transactions.
- Storage Security measures
Yellow Card integrates industry-leading security and encryption to ensure your crypto assets are stored securely. Our vaults receive crypto like any other assets but are integrated with additional security features to ensure they are safe from threats.
- Security Notifications
We also communicate all main security changes in your account settings to our customers so you can stay updated on all security initiatives in Yellow Card.
How You Can Aid Security of Your Yellow Card Account
While we have put in place these stringent security measures on our platform, we believe working together with our customers is the best way to ensure the best protection for their assets. Customers are recommended to:
- Enable 2FA: Our multi-factor authentication system is essential for customers' security, and we recommend that they opt in for this. This is why we have made the authentication process simple, fast and safer to ensure account security without compromising your convenience.
- Use a strong and unique password: We recommend our customers use a strong password as an additional layer of security. A strong password should be about twelve characters, including capital and lower case letters, special cases and numbers.
- Steer clear of Public Wifi: Our cutting-edge technology protects your assets on Yellow Card; however, hackers may gain access to your mobile device via public Wifi. We advise our customers to steer clear of Public WiFi when handling sensitive data.
- Be wary of phishing: Scammers are clever and have been known to mimic websites, social media accounts, emails, and apps to scam customers. This is why we created a channel through which you can verify any Yellow Card channel.
Note: Yellow Card is not an investment platform and will never ask you to share the password or details of your account.
Read also: How To Spot And Avoid Crypto Scams.
Here at Yellow Card, we respect and value your trust, which is why we implement the most sophisticated security measures for you and your assets. We are proud to set a record as Africa's most secure crypto exchange. We continue to invest in more security measures as we guide you on your journey to financial freedom.