New Supported Coins on Yellow Card
Why does YC have multiple coins?
Yellow Card offers multiple coins to give our users a wider range of options when managing their digital assets. We aim to provide our customers with greater flexibility, security, and convenience by providing support for multiple coins. Each coin has unique features and benefits; some may be more suitable for specific use cases than others. For example, some coins may be better suited for fast and low-cost transactions, while others may offer more privacy or security features.
By offering support for multiple coins, our users can choose the coin that best fits their needs and preferences. In addition, by offering support for a range of coins, we can provide our users access to a diverse range of blockchain networks and ecosystems. This can help our users stay up-to-date with the latest developments in the cryptocurrency space and take advantage of emerging trends and opportunities.
New supported coins
USD Coin USDC
Celo Dollar cUSD
Tether Gold XAUt
Pay Pal USD PYUSD
Can you tell me more about each new coin?
Sure ;) Each of these coins has its unique characteristics and use cases. Here's a brief overview:
- Ethereum (ETH): Ethereum is a blockchain platform that allows developers to build decentralized applications (dApps). Its native cryptocurrency, ETH, is used to pay transaction fees and to incentivize miners to secure the network. It is the second-largest coin by market capitalization after Bitcoin.
- Solana (SOL): Solana is a blockchain platform that uses a unique consensus mechanism called Proof of History to enable faster and cheaper transactions. It aims to offer a scalable and decentralized infrastructure for building applications. Its native coin, SOL, is used to pay transaction fees and to incentivize validators to secure the network.
- Cardano (ADA): Cardano is a blockchain platform that aims to offer a more secure and sustainable infrastructure for building applications. It uses a proof-of-stake consensus mechanism, designed to be more energy-efficient than Bitcoin's proof-of-work mechanism. Its native coin, ADA, is used to pay transaction fees and to incentivize validators to secure the network.
- USD Coin (USDC): USD Coin is a stable coin pegged to the US dollar. It is used to facilitate transactions on the blockchain, and its value is designed to remain relatively stable compared to other cryptocurrencies. USD Coin is an ERC-20 token that runs on the Ethereum blockchain.
- Celo Dollar (cUSD): Celo is a mobile-first blockchain platform prioritizing accessibility and inclusivity. Celo Dollar (cUSD) is a stablecoin pegged to the US dollar that enables fast and low-cost transactions. It can be used for various financial activities on the Celo platform, and you can earn rewards by staking cUSD or other Celo-based assets.
- Tether Gold (XAUt): Tether Gold (XAUt) is a stablecoin backed by gold. Each XAUt token is backed by one troy ounce (31.1035 grams) of gold held in a vault in Switzerland. XAUt is issued by Tether, the same company that issues USDT, another stablecoin pegged to the United States dollar.
- Polygon (MATIC): MATIC is the native cryptocurrency token of the Polygon network, formerly known as the Matic Network. Polygon is a Layer 2 scaling solution for Ethereum, designed to address scalability issues and high transaction fees on the Ethereum blockchain. The Matic token serves several purposes within the Polygon ecosystem.
- Pay Pal USD (PYUSD): PYUSD, also known as PayPal USD, is a stablecoin launched by the global payment services provider PayPal. As the financial world gradually shifts towards embracing digital currencies, PYUSD stands out as a noteworthy innovation, combining the stability of traditional fiat currency with the versatility of cryptocurrency.
Can I use my yellow card wallet to store all my different coins?
You can use your Yellow Card wallet to store the coins we support. However, it's important to note that not all coins are supported on our platform. We currently support several coins, which are listed above.
If the coin you want to store is not listed there, you won't be able to store it in your Yellow Card wallet. But for the coins we support, you can easily store them in your Yellow Card wallet. Simply log in to your Yellow Card account, navigate to the "Wallet" section, and select the coin you want to store. You'll be given a unique wallet address for that coin, which you can use to receive, store, and send your coins.
It's always a good idea to check our supported coins page periodically, as we may add support for new coins.
How do I send and receive different coins in my wallet?
Yellow Card offers a hosted wallet to provide users with a secure and convenient way to store and manage their coins. A hosted wallet is a type of wallet that is managed by a third-party provider, in this case, Yellow Card.
By offering a hosted wallet, we take on the responsibility of securing our customers' private keys, which are required to access and manage their assets. This can help prevent the risk of losing or damaging a hardware wallet or the inconvenience of managing a software wallet on your own. Our hosted wallet also makes it easy for customers to access their assets from anywhere at any time. They don't need to worry about managing their wallet software or hardware and can access their coins through a simple web interface or mobile app. In addition, our hosted wallet is designed to support a wide range of coins, making it easier for our dear customers to manage their diverse crypto portfolios in one place.
Again, we believe that offering a hosted wallet is an important part of our commitment to providing a secure, convenient, and user-friendly experience for our customers.
You can easily send and receive different coins in your wallet by following these steps:
- Log in to your Yellow Card account and navigate to the "Wallet" section.
- Select the coin you want to send or receive from the list of supported coins.
- To receive coins, click the "Receive" button under “Trade,” You'll be provided with a unique wallet address for that particular coin. You can share this wallet address with anyone who wants to send you cryptocurrency.
- To send coins, click the "Send" button under “Trade” and enter the recipient's wallet address and the coin you want to send. Double-check the wallet address to ensure you're sending the coins to the correct recipient, and click "Send" to complete the transaction.
- After you've sent or received your coin, you can check your transaction history in the "Transaction" section of your wallet. It's important to note that each coin has its unique wallet address, so make sure you select the correct coin before sending or receiving coins. Additionally, be sure to check the transaction fees and processing times before sending coins to ensure you're getting the best deal and that the transaction will be processed in a timely manner.
Is my Yellow card wallet safe?
At Yellow Card, we prioritize the security of our customers’ funds and data, and we offer several security features to ensure the safety of your wallet. Our platform supports passwords, PIN codes, and two-factor authentication (2FA) as possible solutions.
Passwords: A password is a string of characters you create to secure your account. We recommend using a strong and unique password that is not easily guessable. You can change your password at any time to ensure that your account remains secure.
PIN Code: A PIN code is a numeric code that you can use to access your account. This is an additional layer of security that you can enable to help prevent unauthorized access to your wallet. Two-Factor Authentication
(2FA): 2FA is a security measure that requires you to provide two forms of identification to access your account. This could be a combination of a password and a verification code sent to your mobile device. We strongly encourage our customers to use these security features to keep their wallets safe. By using a combination of these solutions, you can significantly reduce the risk of unauthorized access to your account.