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While it has been around for over a decade now, the world’s foremost cryptocurrency recently began to gain traction around the world. This in large part was due to the global pandemic caused by the spread of COVID-19 which affected virtually every sector of the economy and our individual lives.
Surprisingly, bitcoin seems to not just be resilient but appears to be antifragile. Through economic recessions that have led to inflations and loss of jobs for many, bitcoin has emerged stronger than ever. And we can see that clearly in how much its value has risen in less than six months - recently crossed the US$60,000 mark. In fact, many institutional investors including Square, Inc., Tesla, MicroStrategy have turned to bitcoin has a hedge against the failing fiat currencies while the likes of MasterCard, Visa, JP Morgan Chase & Co. and America’s oldest bank, BNY Mellon have all gotten into the crypto space.
Evidently, bitcoin has a lot to offer. The very premise on which it was created, as a peer-to-peer global currency that is built on an open ledger known as the blockchain has made it all the more valuable in our current world. Specifically, many experts have seen bitcoin as a currency developed for Africa. This is because bitcoin offers a cheaper and faster means of sending and receiving money from anywhere in the world as well as an alternative investment option that is posed to help the average person achieve financial independence.
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Yellow Card
One major way that cryptocurrencies have been made easily available to everyone is through cryptocurrency exchanges and Yellow Card is leading the charge in Africa. Yellow Card is an American cryptocurrency exchange with a focus on Africa and a mission of “financial freedom for all”. The fast-growing fintech company recently began operations in Ghana, having established its presence in over 10 African countries including Nigeria, South Africa, Botswana and Cameroon.
Recognised as one of the top startups in 2020, Yellow Card’s way of bringing cryptocurrency to the public is by ensuring that even the unbanked and underbanked can easily open an account where they can buy and sell bitcoin safely and at the best rates with their local currency. So, the company’s arrival in Ghana meant that using bank transfer, cash or mobile money, you can buy bitcoin directly in your Yellow Card account with cedis. Even better, you can sell bitcoin and withdraw cash to your bank account almost instantly.
Just recently, Yellow Card launched an upgraded version of its mobile app on Android and iOS, making it further easy to trade cryptocurrency on the go without any hassle and the guarantee that at all times your fiat money and crypto are secured with the best wallet technology.
Beyond this, Yellow Card is also creating opportunities for users to get rewarded for using the platform and inviting others. One is through the Yellow Card referral program which rewards users when they invite their friends to sign up with their referral code and trade on the platform. The other is by rewarding the top high-volume traders on Yellow Card.
And as bitcoin continues to set new price records and its adoption increases in Ghana with more people benefitting from it, one can expect that it will help many regain their financial footing and thrive despite the current economic situation.
Written by Joel Ogunjimi (Head of SEO)