Comparison of Bit vs Yellow Card [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Bit vs Yellow Card comparison!

Your expert: Alejandro Borja

bit

Bit

  • Threenvest valuation: 3,8/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

Yellow Card

Yellow Card

  • Threenvest valuation: 3,6/5
  • US legal: No
  • Security: High 4,5/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Main points

Fees

0.07%/0.04%

Earns

Yes

Customer service

3/5
hidden

Fees

No

Earns

4/5

Customer service


Recommended for

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold

Yes
Yes

Beginners

No

Trading

No

Passive income

Yes

Buy and hold


Comparison of fees

Rating

3.6 – Reasonable fees but higher for certain advanced trading options.
3.8 – Reasonable fees with strong local support in Africa.

Level

0.07%/0.04%
hidden

Brief explanation

Bit.com offers a competitive fee structure that’s attractive for both casual and serious traders. The exchange charges a 0.06% fee for takers and a 0.04% fee for makers, which is below the industry average. This low fee schedule is beneficial for high-volume traders as it allows them to maximize their profits on each trade. Additionally, Bit.com does not charge any deposit fees for cryptocurrencies, though there are fees associated with fiat withdrawals and deposits, which vary depending on the payment method and the currency involved. Overall, this fee arrangement supports an active trading environment at a reduced cost.
Yellow Card’s fee structure is designed to be straightforward and competitive, particularly catering to its primary audience in Africa. The platform charges a nominal fee on transactions, which varies slightly depending on the payment method used and the specific fiat or cryptocurrency involved. These fees are generally on par with regional standards and are structured to encourage frequent small transactions, which is typical among its user base. This makes Yellow Card an appealing option for users who value transparency and affordability in their trading activities.

Bit

bit
Read bit review
  • Security Methods: Bit.com employs advanced security protocols including multi-factor authentication, cold storage of assets, and continuous system monitoring, ensuring a high level of protection for user funds and personal data.
  • Reputation and Reviews: Since its inception, Bit.com has quickly built a strong reputation for reliability and professionalism within the crypto community. The positive reviews and testimonials from seasoned traders underline its credibility and trusted status in the market.
  • Trading Volume and Liquidity: Bit.com is known for its high trading volume and liquidity, which is crucial for executing large trades without significant price slippage. This makes it an ideal platform for institutional investors and professional traders who require quick order execution.
  • Transparency: The exchange is transparent about its fee structure, trading processes, and the security measures it implements. This openness is essential for building trust with users and is a core reason why many choose to trade on Bit.com.
  • Withdrawal and Deposit Policies: Bit.com offers clear and user-friendly policies regarding withdrawals and deposits. These policies are designed to provide convenience while also ensuring the security of transactions, which significantly enhances user trust and satisfaction with the platform.
  • Pros
  • Advanced trading features integrated.
  • High liquidity ensures efficient execution.
  • Competitive fee structure for traders.
  • Cons
  • Complex interface, steep learning curve.
  • No fiat currency support available.

Read bit review

Yellow Card

Yellow Card
Read bit review
  • Focus on African Markets: Yellow Card specifically targets African users, understanding and addressing the unique financial challenges and needs in the region, which highlights their commitment to their user base.
  • Reputation and Reviews: Despite being relatively new, Yellow Card has garnered positive reviews for its user-friendly interface and the ease with which users can trade cryptocurrencies, which is crucial for building trust among new entrants to the crypto space.
  • Customer Service: Yellow Card places a strong emphasis on customer support, ensuring that users have access to help whenever they need it. This is especially important for users new to cryptocurrency, making the platform more approachable.
  • Security Methods: The exchange employs robust security measures to protect user accounts and transactions, which is fundamental for user confidence in handling digital assets.
  • Year Founded: Having been established in 2016, Yellow Card has had time to develop and refine its services, gaining valuable experience and insights into the market, which help in providing reliable and effective services.
  • Pros
  • User-friendly interface
  • Focus on African markets
  • Supports local payment methods
  • Cons
  • Limited cryptocurrency variety
  • Smaller user base

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Product selection

Native token

No
No

Earns

Yes
No

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Unknown
Yellow Card Financial

Regulation

Regulation not specified
Not regulated

Year founded

Unknown
2016

Founder

Unknown
Chris Maurice

Payment methods

Transfers

No
Yes

Mastercard

No
No

Wire transfer

No
No

Card

No
No

Comparative table

Bit FEATURES Yellow Card
Allows small minimum trades, accessible for those looking to start with modest amounts.
Minimum Trade
Yellow Card supports relatively low minimum trades, making it accessible for beginners who might want to start small.
Competitive fees across trading types, appealing to high-volume traders due to lower costs.
Trading and Transaction Fees
The platform offers competitive fees, though not the lowest in the market. This could be more attractive with clearer fee structures.
Offers a decent variety of cryptocurrencies, though not as extensive as the largest platforms.
Number of Cryptocurrencies
Offers only a limited selection of cryptocurrencies, which could be a limitation for those looking to trade beyond the most popular coins.
Provides a wide range of crypto-to-crypto trading pairs, enabling diverse trading strategies.
Crypto-to-Crypto Trading Pairs
Limited trading pairs are available, focusing primarily on major cryptocurrencies, which restricts trading strategies.
The website provides clear and detailed information about fees, policies, and trading options.
Website Transparency
Yellow Card’s website provides clear information about their services and fees, enhancing user trust.
Bit.com lacks an exchange card, limiting additional spending flexibility and benefits for its users compared to some competitors that offer branded cards with rewards.
Credit/Debit Card
Yellow Card lacks an exchange card, missing an opportunity to extend additional benefits and conveniences to its users.
High-level security storage solutions including cold storage options to protect user assets.
Storage Offering
Provides secure storage options, though details on cold storage or insurance would enhance user confidence further.
Offers staking options but with limited rewards compared to leading competitors.
Staking and Rewards
Offers basic staking services but lacks the variety and competitive rates found on more established platforms.
Both mobile and desktop platforms are well-designed, offering full functionality and user-friendly interfaces.
Mobile App and Desktop
Both mobile and desktop platforms are user-friendly and highly functional, suitable for traders on-the-go or at home.
Customer service is available, but response times can vary, impacting user experience during peak times.
Customer Service
Generally responsive and helpful customer service, although peak times can see slower responses.
Efficient processes for depositing and withdrawing funds, though improvements could be made in speed.
Deposit and Withdraw
Supports multiple deposit and withdrawal methods, though some users may find the options limited compared to larger exchanges.

Key features

Analysis tools

Basic charting tools
Basic buying and selling, no advanced tools

Mobile APP

No
No

Security

High 4,6/5
High 4,5/5

Additional features

Spot trading, margin trading, lending services, OTC trading
Crypto-to-fiat services, bill payments, mobile top-ups, staking

Anonymity

Yes
Yes

Key points

Available cryptocurrencies

30+
Few, primarily major cryptocurrencies

User-friendliness

Bit offers a straightforward and intuitive platform that is easy for beginners to use. The interface is clean and provides essential features without overwhelming new users.
Yellow Card provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

Value for money

Offers reasonable value for money with competitive fees and a straightforward trading experience, though it may lack some advanced features.
Provides decent value for money with competitive fees and strong local support in Africa, making it a good choice for regional users.

Countries of operation

United States, Canada, United Kingdom, Australia, Singapore
Nigeria, South Africa, Botswana, Kenya, Ghana

Best for

Great for beginners and experienced traders looking for a straightforward trading experience with competitive fees.
Ideal for African investors seeking a reliable platform with competitive fees and strong local support.

Base currencies available

JPY, USD, EUR, BTC
Multiple local currencies, BTC

Account

Trading

BIT exchange offers robust security and a user-friendly interface. While it provides essential trading features, it lacks the advanced tools required by professional traders. The exchange also has moderate liquidity.
Yellow Card is a popular exchange in Africa, offering easy fiat integration and a user-friendly platform. It supports a good range of cryptocurrencies but has higher fees compared to some other exchanges.

Deposit and withdrawal

BIT exchange supports multiple deposit options such as bank transfers and cryptocurrencies. Withdrawals are processed efficiently, usually within a day. Fees are minimal, enhancing accessibility.
Yellow Card is popular in Africa, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.

Account opening process

BIT exchange provides an easy account registration process. Users need to provide personal details and verify their identity. The account is usually approved within a day, ensuring quick access to trading.
Yellow Card provides a straightforward and user-friendly account registration process. Users need to provide personal information and verify their identity. The process is efficient and typically takes less than a day to complete.

KYC required?

No
No

Customer Service

BIT offers customer support through email and live chat. The support team is knowledgeable and responsive, but the absence of phone support and limited availability can be a disadvantage.
Yellow Card provides support through email and live chat. The response time is quick, and the support team is available 24/7, making it reliable for users in Africa.

Security

BIT offers strong security features, including 2FA and encryption. Despite its robust security measures, the platform lacks regulation from major financial authorities, which could be a concern for some users.
Yellow Card employs comprehensive security measures, including 2FA and cold storage. It is regulated by African authorities, ensuring high security for investors.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As an expert on our website, I recommend Bit.com for traders looking for a robust platform that excels in derivatives trading and offers high liquidity. Its advanced security and comprehensive trading tools make it a strong choice for experienced traders. However, new traders should be aware that the platform’s complexity and limited fiat support could pose initial hurdles. Overall, Bit.com is a standout exchange for those looking to leverage sophisticated trading strategies in the cryptocurrency market.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert closely analyzing Yellow Card, I appreciate its focused approach to serving the African market. Its user-friendly interface and support for local payment methods make it an excellent choice for newcomers. However, I recommend potential users consider the limited variety of cryptocurrencies offered. This platform is ideal for those starting their journey in crypto trading or those who primarily deal with major cryptocurrencies.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

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