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2022-01-07

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Yellow Card

We are pleased to announce that Tether (USDT) is now live on Yellow Card. 2021 marked significant gains and adoption in the crypto space, with the crypto market in Africa growing by 1200%. With this in mind, there has been a lot of expectations and positivism about what 2022 will hold for the crypto space. 

We at Yellow Card, recognising this, have been making strides in our mission of financial inclusion by creating services and products that would help foster crypto accessibility and adoption. In line with this, our team has been hard at work and has successfully rolled out our latest feature, USDT wallets, allowing users from across Africa to buy, sell and hold USDT effortlessly.

USDT and How Yellow Card Users Benefit From This New Addition

USDT is a stablecoin pegged to the US dollar (USD), giving it price stability that many other cryptocurrencies, such as BTC, ETH, SOL, and ADA, do not possess. USDT is tethered to the dollar at a 1:1 ratio, which means its price is the same as the current dollar price. Because USDT is immune to the volatility that other cryptocurrencies suffer from, it is a prime choice amongst Africans.

With USDT, you can enjoy: 

  • Limitless and borderless transactions

With USDT, you can enjoy all the benefits of the traditional cryptocurrency while being protected from volatility. This means you can complete local and cross-border transactions with ease and with no limitations. 

  • A hedge against inflation

High inflation rates have polarised African countries like Zambia and Nigeria, making it difficult to save with increased living costs. USDT, like every other cryptocurrency, is a hedge against inflation, and it is pegged to USD, which has a relatively stable price. This means you can easily save your funds with no worries about inflation while being assured you will still maintain the value of your funds. 

Cryptocurrencies are amazing to invest in, but they may be disheartening to those who do not find volatility appealing. This is because, while cryptocurrencies may have highs, they may also experience lows, making them more challenging to use for everyday transactions. USDT, on the other hand, has a steady price because it is tethered to the US dollar, which means it retains its value over time, making it more suitable for payment systems and savings.

  • Lightening speed transactions with lower transaction cost

Depending on the form of transfer, regular USD fund transfers via traditional banking could take anywhere from one day to weeks. The transaction may take considerably longer to complete if initiated during weekends or public holidays. USDT transfers, on the other hand, are faster. This is excellent news for traders, whose profits might be lost if transfers take that long. 

Here at Yellow Card, we recognise this and are committed to making USDT more accessible to Africans by allowing them to buy and sell cryptocurrency with their local currency. As a Yellow Card user, you have the option to directly swap USDT for other cryptocurrencies. The Yellow Card USDT wallet is also built on the Tron network (TRC-20), which has recorded significantly lower transaction fees than ERC 20, ensuring that you can enjoy the very best rates. Get started with USDT today to enjoy these benefits and much more.