Avoiding coin scams

Note: As a precautionary measure, we will always post any event from which you can win a prize on our blog.

As interest in digital assets and their utility to the average African increases, coin-related scams are also rising.

Like most legitimate on-and-off ramp platforms, Yellow Card deals with continuous attacks from scammers. As a platform that prioritizes the safety of our customers’ data and funds, we keep working around the clock to ensure that our users and potential customers do not fall victim to these scams. 

Because financial literacy and education levels can be low where people need access to our services, unbanked communities can be the worst affected by this criminality.

While we continue to strengthen our systems, we must keep our customers informed about the threats they may face. Here are a few ways to protect yourself from scammers.

How to protect yourself

Do not share your Yellow Card password with anyone on the internet.

One of the ways we’ve noticed that scammers operate is to pretend to be a Yellow Card support agent on social platforms like Facebook, WhatsApp, and Twitter, then request personal details like your password, BVN, bank statement, or any means of identification.

Please note that no Yellow Card personnel would ask for any of your details on social media regardless of any issue you might have with your account. The most secure way to make a complaint is by sending a mail to us at [email protected].
  • Do not reply to any message in your social media inbox from a “Yellow Card Agent”:
    • Yellow Card Is not an investment scheme. We never offer investments of any kind.
    • We are not involved with Foreign Exchange. We Only offer Personal Accounts to users to buy, sell, and trade Coins. Anyone claiming otherwise Does Not represent Yellow Card.
    • Yellow Card is an on/off ramp platform ONLY. We Will NEVER ask you to send your money to us so we can invest (or trade) on your behalf.
    • If you get such messages, do not hesitate to report the account and block them.
  • Do not send your funds to anyone to deposit on Yellow Card on your behalf: 

Our platform is designed for easy and safe use by anyone; we would never ask you to send your money or coins outside our platform. To use Yellow Card, download the app or visit web.yellowcard.io and sign up (or log in if you already have an account). That way, you can securely fund your account and keep your funds safe.

  • Only engage with the real Yellow Card accounts on social media: We have seen an increase in fake accounts created in our name to deceive unsuspecting users with counterfeit giveaways and other promos.

    To not fall victim to any of these scams, kindly ensure to check that the account username corresponds precisely with the following:

    Twitter - @yellowcard_app

    Instagram - @yellowcard_app

    Facebook - @yellowcardapp

The Yellow Card Page on Facebook has over 48,000 followers. Most scam pages do not have these numbers as they are usually opened recently. Also, if in doubt, email our customer support at [email protected].

  • Be careful of social media giveaway scams: 

While we reward our customers by occasionally running activities where you can stand a chance to win something, we will never ask you to deposit any money or crypto in any wallet before winning a prize.

Thank you for choosing Yellow Card.

Did this answer your question? Thanks for the feedback There was a problem submitting your feedback. Please try again later.

Related Articles