FAQs - Yellow Card Wallet Address Update (USDT)

Fireblocks is a digital asset management platform which Yellow Card has integrated to manage crypto assets like BTC, USDT and Ethereum.

Our integration with Fireblocks (a crypto gateway provider) assists in making crypto available to our customers and guarantees seamless transactions for you.  These updates are backend in nature and will ultimately improve your experience on the Yellow Card app. 

We have done all we can to minimize the impact of this upgrade on our customers! Below is a non-exhaustive list of questions about our new integration, with concise answers designed for you.

Why is Yellow Card integrating with Fireblocks?

The integration will help make your transactions even more seamless. The updates are majorly backend upgrades that will improve your experience and security on the Yellow Card App. 

When will the change take effect?

We have successfully integrated Fireblocks, and the changes have been rolled out. If you click “receive” on your Yellow Card account, you’ll notice a difference in your wallet address.

What does this mean for me as a Yellow Card customer?

Our integration with Fireblocks means a new wallet address will be generated for you. While your old address will still be operational when you click on "receive", you'll be provided with a new wallet address to receive crypto.

Will my address change?

For all countries we are going live in, a new address will be generated if or when the customer clicks or selects ‘receive’ on their wallet. Old addresses for our customers generated via bitgo and threshold will be retained within the platform, and they can still receive transactions.

What happens to the old wallet after the change?

The old wallet will be retained within our ecosystem. You can still receive digital assets through the address; the balances will reflect on your YC account. If the customer has copied/stored their old address, they can still use it on other exchanges.

What happens to the balance sent to the old wallet address?

Your balances will still reflect on your YC account, and you will be able to transact normally. However, from 1 January 2023, using your old wallet address will result in a permanent loss of funds.

Is there any action required from our customers?

Our customers should continue transacting normally because these are backend processes which will eventually guarantee a better user experience. No action is required from our customers at this time.

Is this going to affect the usage of the App in any way?

These changes are backend in nature and will not affect the interaction with the app directly. The upgraded feature will be extensively monitored to ensure the app continues running seamlessly.

Do we expect downtime?

No, downtime is not expected. In case of any unexpected scenarios, a rollback plan will be executed.

What happens if someone sends crypto to my old address after the change has taken place?

The old address will still be able to receive crypto, and the update on your balance should reflect on your Yellow Card account.

What happens if I notice my address has changed?

This is an indication that you have migrated to the Fireblocks platform. The address change should not affect your old address or your balances.

Are we launching new crypto assets with Fireblocks?

With this launch, we are currently launching USDT on Fireblocks, but the integration allows us to add new and exciting tokens in future with ease.

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