Sending money across borders can be a stressful and expensive process. Traditional methods such as wire transfers or bank drafts often involve high fees and long wait times.
In recent years, digital platforms have emerged as a more affordable and convenient way to send money internationally. Among these platforms are TransferXO and Yellow Card.
While both offer similar services, there are differences in their fees, exchange rates, and user experience.
In this article, we will explore these differences in detail to help you make an informed decision about which platform to use for your next international money transfer.
Let’s see the different aspects of TransferXO and Yellow Card, hence deduce which is the best cryptocurrency exchange platform to work with.
TransferXO vs Yellow Card: A Detailed Comparison
When it comes to transferring money internationally, it’s important to choose a reliable and trustworthy provider.
Two of the most popular companies in this industry are TransferXO and Yellow Card. While both companies offer similar services, there are some key differences that you need to be aware of before choosing the right one for you.
When it comes to fees and exchange rates, TransferXO and Yellow Card are quite competitive. TransferXO charges a flat fee of 0.75% for transfers up to $10,000. Exchange rates are always updated in real-time, and you can expect to receive competitive rates that are close to the mid-market rate.
Yellow Card, on the other hand, charges a fee of 1.5% per transaction, which is quite affordable compared to other providers. The exchange rates offered by Yellow Card are also quite competitive, and you can expect to receive rates that are close to the mid-market rate.
TransferXO offers fast transfer speeds, with most transfers being delivered within 1-2 business days. The company also offers express delivery options for an additional fee, which allows your transfer to be delivered within a few hours.
Yellow Card offers instant transfers within its network, and transfers to external bank accounts are usually delivered within 1-2 business days.
Both TransferXO and Yellow Card offer reliable and trustworthy money transfer services, but they have their own unique features and benefits. TransferXO is a great option for those who need to send money to a wide variety of countries, while Yellow Card is ideal for those who need to send money within Africa or prefer to use Bitcoin.
When choosing between the two, it’s important to consider your specific needs and preferences, as well as the fees, exchange rates, and transfer speeds offered by each company.
TransferXO vs Yellow Card: Overview of Both Exchanges
Overview of TransferXO
TransferXO is an online money transfer service that allows you to send money to over 60 countries worldwide.
The company is known for its fast and secure transfer services, competitive exchange rates, and exceptional customer support.
TransferXO has partnerships with banks and financial institutions worldwide to ensure that your transfers are delivered quickly and efficiently.
Overview of Yellow Card
Yellow Card is also an online money transfer service that allows you to send money to over 30 countries in Africa.
The company specializes in offering affordable and accessible services to people in developing countries who may not have access to traditional banking systems.
Yellow Card allows you to send money through its mobile app or website and also provides a Bitcoin wallet service.
TransferXO vs Yellow Card: Pros and Cons
Pros:
- Affordable fees
- Supports Bitcoin payments
- Instant transfers within the network
- User-friendly mobile app
Cons:
- Limited to certain countries in Africa
- Limited currency options
TransferXO vs Yellow Card: Features and Comparison
When it comes to online money transfer platforms, TransferXO and Yellow Card are two popular choices. They both offer competitive exchange rates and fast money transfers. However, there are some differences between them that you should consider before choosing one.
In this section, we will compare TransferXO and Yellow Card based on various factors such as fees, exchange rates, transfer speed, user experience, and customer support.
Fees
One of the most important factors to consider when choosing an online money transfer platform is the fees charged. Let’s look at the fees charged by TransferXO and Yellow Card.
TransferXO
TransferXO charges a flat fee of 0.75%. For transfers above $999, the fee is waived. TransferXO also offers a price match guarantee, meaning they will match it if you find a cheaper rate elsewhere.
Yellow Card
Yellow Card fees offer a flat fee of 1% with a 0% deposit, but the withdrawal fee varies based on the currency.
Exchange Rates
Exchange rates are another important factor to consider when choosing an online money transfer platform. Let’s compare the exchange rates offered by TransferXO and Yellow Card.
TransferXO
TransferXO offers competitive exchange rates. They have a currency converter on their website that allows you to see the exchange rate and fees before making a transfer.
Yellow Card
Yellow Card also offers competitive exchange rates. However, they do not have a currency converter on their website, so you will need to contact their customer support team to get a quote.
Speed of Transfer
The speed of transfer is also an important factor to consider when choosing an online money transfer platform. Let’s compare the speed of transfer offered by TransferXO and Yellow Card.
TransferXO
TransferXO offers same-day transfers for most countries. However, transfers to some countries may take up to 3 business days.
Yellow Card
Yellow Card also offers same-day transfers for most countries. However, transfers to some countries may take up to 5 business days.
User Experience
The user experience is an essential factor to consider when choosing an online money transfer platform. Let’s compare the user experience offered by TransferXO and Yellow Card.
TransferXO
TransferXO’s website is user-friendly and easy to navigate. They also have a mobile app that is available for both iOS and Android.
Yellow Card
Yellow Card’s website is also user-friendly and easy to navigate. They do not have a mobile app yet, but they have plans to release one soon.
Customer Support
Customer support is an essential factor to consider when choosing an online money transfer platform. Let’s compare the customer support offered by TransferXO and Yellow Card.
TransferXO
TransferXO has a customer support team available 24/7 via live chat, email, and phone. Their website also has an extensive FAQ section covering the most common queries.
Yellow Card
Yellow Card also has a customer support team that is available via live chat, email, and phone. They also have a comprehensive FAQ section on their website.
Is TransferXO Better Than Yellow Card?
Now that we have compared TransferXO and Yellow Card based on various factors let’s try to answer the question “Is TransferXO Better Than Yellow Card?”
The answer to this question depends on your specific needs. If you are looking for a platform with lower fees, TransferXO is a better choice. However, if you are making larger transfers, Yellow Card’s fee structure may be more favorable.
If you are looking for a platform with a user-friendly interface and a mobile app, TransferXO is a better choice. However, if you prefer to speak to a customer support representative before making a transfer, Yellow Card may be a better choice as they offer personalized quotes.
When it comes to speed of transfer and exchange rates, both platforms offer competitive rates.
TransferXO vs Yellow Card: Basic Products
TransferXO Basic Products
TransferXO P2P Exchange
Here is how the TransferXO P2P Exchange functions in case you’re interested in using it:
Step 1: Find a trade that satisfies your requirements, taking into account the desired cryptocurrency you want to buy or sell, the preferred payment method, and the preferred price.
Step 2: After confirming that all of the information provided by the other party is accurate, ask them to begin the trade.
Step 3: Execute the deal by sending the cryptocurrency to the other party’s wallet address and verifying receipt of payment after both parties have agreed to the trade’s terms.
You may rely on TransferXO to act as an escrow agent. Once all conditions are satisfied and the transaction is complete, the cryptocurrency is released and the appropriate parties are paid.
Over-the-Counter (OTC)
The operation of TransferXO’s Over-the-Counter (OTC) is as follows:
Step 1: Fill out the OTC form with the necessary data. Place orders to buy or sell bitcoins on the exchange.
Step 2: After an order is placed, the exchange will match the purchase and sell orders, taking into account the price, quantity, and other specifications given by the customers.
Step 3: After an order is matched, the exchange will facilitate payment. This can include sending money from the buyer to the seller’s account or vice versa, depending on the particulars of the transaction.
Step 4: The digital asset is transferred to the buyer’s account, and the seller’s account is credited with the money.
Virtual Card – Crypto Debit Cards
One such option that provides a simple and secure way to spend your digital assets for regular purchases is TransferXO Crypto Debit Cards.
You can utilize your Bitcoin holdings on TransferXO Crypto Debit Cards, which are prepaid debit cards, at any business that takes Visa or Mastercard.
With these cards, you can rapidly exchange your digital assets for fiat money at point-of-sale terminals, online retailers, or ATM withdrawals. They are connected to your Bitcoin wallet.
TransferXO Crypto Debit Cards are easy to use and understand. Applying for a card and connecting it to your cryptocurrency wallet are the first steps.
Follow these procedures to get a crypto debit card:
Step 1: Create an account with TransferXO. Your personal data must be submitted, and your identity must be verified.
Step 2: The next action is to add more money. To do this, you can link a bank account, transmit funds from a cryptocurrency wallet, or make purchases using a credit or debit card.
Step 3: Following a deposit, you will be given a debit card number, expiration date, and security code that you can use for online purchases.
Step 4: Just like a standard debit card, your crypto debit card can be used to make purchases online or pay bills.
Now you may buy things and transfer money to other accounts using your virtual card.
TransferXO Bill Payment
How to pay your bills with TransferXO is as follows:
Step 1: Describe the amount of the bill and the method of payment in the first step of a payment request.
Step 2: TransferXO calculates the bill payment’s equivalent bitcoin value based on the current exchange rate.
Step 3: The user reviews the exchange’s displayed cryptocurrency equivalent and confirms the payment to authorize the transaction.
Step 4: TransferXO delivers the appropriate cryptocurrency to the bill-paying service provider or a third-party payment processor, who settles the transaction on your behalf. Following that, a confirmation email is sent.
Yellow Card Products
Cryptocurrency Exchange
Yellow Card provides digital currency exchange for the cash market with an emphasis on increasing accessibility to Bitcoin and fundamental financial services.
To make money transfers easier, it creates a platform for currency conversion that converts local currencies into bitcoins.
BTC, USDT, ETH, and a lot more can be bought, sold, sent, and received. To make your transition into Bitcoin easier, we carefully choose the best available.
Start now in just 3 simple steps:
Create a profile: Create a free account by providing your name, email address, and phone number.
Invest in your account: To make a deposit into your account, select your desired payment method (bank transfer, mobile money).
Trade cryptocurrencies now: Start adding the most well-liked cryptocurrencies to your wallet by purchasing them or receiving them.
Yellow Card Payments API
Yellow Card Payments API enables companies all around the world to offer their clients African fiat on-and-off ramps by leveraging stablecoins. Yes, one API key will easily unlock payments across the entire continent of Africa.
The Potential Yellow Card Payments API Unlocks:
- One API key provides access to the entire African continent.
- A significant increase in revenue for your company.
- Safeguarded against the unpredictability of the African banking system and supply base.
- Offer a safe and secure way for your customers to use your app to make deposits and withdrawals.
Yellow Card Over-the-Counter (OTC) Trading
Access OTC liquidity and cryptocurrency transaction services directly. Anywhere in Africa, take advantage of convenient services and trade execution management.
You can trade Bitcoin, Ethereum, and other cryptocurrencies depending on your needs thanks to the vast selection of fiat currencies available.
The strategically placed Yellow Card OTC crew is available at all times to receive your order and oversee your trade executions.
Start trading at our OTC desk in just three easy steps.
- Please complete this form before we can set up an OTC desk for you.
- The necessary paperwork must be uploaded and submitted in order to set up your desk and raise your trading limit.
- To begin executing your orders, get in touch with one of our skilled traders.
TransferXO vs Yellow Card: Fees
TransferXO Fees
Users can access TransferXO’s open and transparent fee structure on a page specifically dedicated to that topic. On the TransferXO exchange, transactions are subject to the following fees:
Fees for swaps at market pricing might range from 0.00% to 0.75% depending on the pairing.
For all pairings, the charge for a swap at your price is set at 0%.
TransferXO is well-known for its reasonably low cryptocurrency trading costs in addition to supporting a number of other cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.
Compared to other cryptocurrency exchanges, TransferXO charges 0.75% less for buying and selling digital assets, allowing consumers to keep more of their gains.
TransferXO charges relatively little maker and taker fees of 0.75% and 0%, respectively. Additionally, there are no fees for deposits or withdrawals, and there is no volume-based pricing.
Blockchain wallets are used by more than 100,000 people, and the minimum transaction size is one bitcoin.
Yellow Card Fees
You can buy and sell Bitcoin on Yellow Card with ease and safety thanks to a variety of payment methods, attractive pricing, and no transaction fees.
By allowing you to trade completely free, we help you get the most out of your cryptocurrency. Get free access to Yellow Card today to buy and trade Bitcoin and other cryptocurrencies swiftly and safely!
TransferXO vs Yellow Card: Buy & Sell Crypto
Buy & Sell Crypto on TransferXO
In Africa, using TransferXO to buy, sell, and store Bitcoin (BTC) and tether (USDT) is the safest, simplest, and most affordable option.
Here’s how to buy and sell cryptocurrency on TransferXO.
How to Buy Crypto on TransferXO
To purchase cryptocurrencies on TransferXO, adhere to the following steps:
Create an Account: Signing up for a TransferXO account is the first step. The creation of a password, name, and email address is necessary. Following account creation, you will receive a confirmation email. You must click the link in the email to verify your account.
Verify Your Identification: Prior to making a Bitcoin purchase on TransferXO, you must first verify your identification. For this routine procedure to be completed, you must enter your name, address, and birthdate. You must also provide a photo of your government-issued ID.
Add Funds to Your Account: Following account verification, you must add funds to your account. Only a few of the payment options accepted by TransferXO include bank transfers and debit cards.
Buy Crypto: Purchasing cryptocurrency is now possible using money in your account. Cryptocurrencies like Bitcoin, Ethereum, Litecoin, and others are supported through TransferXO. Select the cryptocurrency you want to purchase and the price range. After checking your transactional information, click the Buy button.
Store Your Crypto: Once you’ve purchased cryptocurrency, store it in a safe wallet. You can transfer your cryptocurrency to an external wallet in addition to using TransferXO’s built-in wallet. To safeguard your crypto, be sure to keep your private keys secure.
How to Sell Crypto on TransferXO
Another profitable method of making money is by selling cryptocurrencies. Once your account has been created and validated, TransferXO allows you to transfer Bitcoin from your personal wallet to your exchange wallet.
On TransferXO, selling cryptocurrency is a simple and straightforward process. The procedures are as follows:
Create an account: In order to sell cryptocurrencies on TransferXO, you must first establish an account. Proceed to the following step if you already have an account. Visit TransferXO’s website and click the “Sign Up” button to create an account. To create your account, follow the steps and supply the necessary data.
Buy & Sell Crypto on Yellow Card
The simple-to-use Yellow Card interface makes it easy to manage, track, and trade your cryptocurrency.
Create a profile: Create a free account by providing your name, email address, and phone number.
Invest in your account: To make a deposit into your account, select your desired payment method (bank transfer, mobile money).
Trade cryptocurrencies now: Start adding the most well-liked cryptocurrencies to your wallet by purchasing them or receiving them.
TransferXO vs Yellow Card: Security and Trustworthiness
Security and trustworthiness are two of the most important factors to consider when choosing a money transfer service.
Let’s take a closer look at how TransferXO and Yellow Card compare in these areas.
Security
Both TransferXO and Yellow Card take security seriously and have implemented measures to protect their customers’ information and funds.
To protect your Bitcoin, get a free Fiat Wallet. We take seriously the security of your money. We protect your money at all times with multi-sig wallets, One Time Pins, Authenticators, and a strong KYC process.
TransferXO uses 256-bit SSL encryption to secure all online transactions, and they are also regulated by the Anti-Money Laundering (AML).
Yellow Card, on the other hand, uses multi-signature technology to secure all transactions and is also regulated by the FCA.
Trustworthiness
Trust is crucial when it comes to money transfer services, and both TransferXO and Yellow Card have earned the trust of their customers.
TransferXO has a 4.7 out of 5 rating on Trustpilot, with customers praising their fast and reliable service.
Yellow Card also has a 4.7 out of 5 rating on Trustpilot, with customers commending their excellent customer service.
TransferXO vs Yellow Card: Customer Support
Yellow Card’s customer support team is available via email, and they usually respond within 24 hours.
The platform does not offer a live chat option, but they have a phone number that you can call for urgent matters.
Yellow Card’s customer support team is also multilingual and can assist you in English, French, Spanish, and Portuguese.
However, the platform’s FAQ section is not as comprehensive as TransferXO’s, and some information might be hard to find.
When comparing TransferXO vs Yellow Card: Customer Support, there are several factors to consider. Here’s a comparison table that summarizes the main differences between the two platforms:
| Feature | TransferXO | Yellow Card |
|---|---|---|
| Customer Support Channels | Email, Live Chat | |
| Live Chat Availability | Monday to Friday, 9 am to 6 pm GMT | Not available |
| Phone Support | Available | Available |
| Multilingual Support | Yes | Yes |
| FAQ Section Quality | Comprehensive and well-organized | Not as comprehensive |
As you can see, TransferXO offers more customer support channels than Yellow Card, including live chat. However, Yellow Card has a phone number that you can call for urgent matters, which TransferXO does not offer.
Both platforms provide multilingual support and have a dedicated team to assist you. However, TransferXO’s FAQ section is more comprehensive and easier to navigate than Yellow Card’s.
TransferXO vs Yellow Card: Unique Feature
TransferXO Unique Feature
TransferXO Academy
TransferXO Academy is the #1 online university for blockchain and cryptocurrency education in Africa. In addition to using blockchain technology to build their digital wealth, they offer a platform for learning to ONE BILLION Africans.
You can enroll in the TransferXO Academy’s Advanced Courses to expand your understanding of blockchain.
You will be in control and receive the training you need to become an expert thanks to the more than 100 certification programs offered by the Academy. Credentials that are acknowledged globally.
With TransferXO Academy, you have control over your educational journey. After storing your progress, you can return at any time to complete your courses.
Take advantage of the opportunity to learn about one of today’s most innovative technologies.
Fiat Wallet
With TransferXO’s unique “Fiat Wallet” feature, you can have many Fiat Wallets filled with money from Kenya, Ghana, and Nigeria.
Typically, purchases of cryptocurrencies are made using fiat money. With the help of this creative development from TransferXO, you can store cryptocurrency on the platforms and in your TransferXO Fiat Wallet.
Bitcoin and other cryptocurrencies can be instantaneously sent and received from any platform, or you can store them safely in your TransferXO Fiat wallet until you’re ready to withdraw.
Yellow Card Unique Feature
Yellow Pay
Yellow Pay offers a quick, secure, and cost-free solution to send and receive money across borders!
With Yellow Pay, a brand-new payment option on Yellow Card, you can rapidly and cost-free send money across African borders.
Start now in just 3 simple steps:
Create a profile: Create an account on our website or download our mobile app for iOS or Android to register.
Check your account: You must be verified in order to finish your profile. Uploading the necessary identity documents is requested.
Initially send and receive: Use Yellow Pay to instantly send and receive money throughout Africa. IT. ISN’T. PAID!
TransferXO vs Yellow Card: Are They Safe?
TransferXO and Yellow Card are two popular digital payment methods that enable you to transfer money to anyone, anywhere in the world.
They offer faster, easier, and cheaper transactions compared to traditional bank transfers. However, you must ensure that your money is safe before using these platforms.
TransferXO takes the safety and security of their users’ funds seriously, and they have implemented several measures to ensure that their platform is secure. We can say the same for Yellow Card, however, there are discrepancies in some traders’ reviews.
However, both TransferXO and Yellow Card use SSL encryption to protect all communication between their website and users’ browsers.
Equally, on both platforms, users can enable two-factor authentication to add an extra layer of security to their accounts.
Also, TransferXO and Yellow Card store the majority of their users’ funds in cold storage, which is offline and less vulnerable to hacks. However, TransferXO uses sophisticated fraud detection technology to prevent fraudulent transactions.
In conclusion, we can say both TransferXO and Yellow Card have implemented several security measures to ensure that their platforms are secure. However, TransferXO is primarily focused on buying and selling cryptocurrencies and international money transfers, whereas Yellow Card is focused on buying and selling cryptocurrencies.
Therefore, the safety features of each platform are designed to protect against different types of threats.
FAQs
Here are some frequently asked questions about TransferXO and Yellow Card:
Is TransferXO or Yellow Card more secure?
Both TransferXO and Yellow Card use encryption and other security measures to protect users’ information and transactions. However, TransferXO has an additional layer of security with its two-factor authentication process, which may make it a slightly more secure option.
Which platform is faster for international money transfers?
Both TransferXO and Yellow Card offer real-time tracking of transfers, but the actual transfer time may depend on various factors such as the payment method, currency pair, and the recipient’s bank. In general, TransferXO may be slightly faster than Yellow Card due to its faster payment processing times.
Can I cancel a transfer on TransferXO or Yellow Card?
Yes, both TransferXO and Yellow Card allow users to cancel a transfer before it has been processed. However, there may be fees or penalties for canceling a transfer, depending on the platform’s policies.
Is there a mobile app for TransferXO or Yellow Card?
Yes, both TransferXO and Yellow Card have mobile apps available for download on the App Store and Google Play. The apps allow users to send and receive money, track transfers, and manage their accounts on the go.
Are there any hidden fees or charges with TransferXO or Yellow Card?
No, both TransferXO and Yellow Card are transparent about their fees and charges. The fees are clearly displayed before the user confirms the transfer, and there are no hidden fees or charges.
Can I send money to any country with TransferXO or Yellow Card?
Both TransferXO and Yellow Card support transfers to many countries around the world, but there may be restrictions or limitations depending on the country or region. It’s important to check the platform’s list of supported countries before initiating a transfer.
How long does it take to set up an account on TransferXO or Yellow Card?
Setting up an account on both platforms is quick and easy. It should take no more than a few minutes.
Can I send money to any country on TransferXO or Yellow Card?
Both TransferXO and Yellow Card support transfers to a wide range of countries. However, there may be some countries that are not supported.
Is my information secure on TransferXO or Yellow Card?
Yes, both platforms use state-of-the-art encryption to ensure that your information is secure.
Final Verdict
In summary, both TransferXO and Yellow Card offer affordable and convenient options for sending money internationally. While there are similarities between the two platforms, there are also differences in their fees, exchange rates, and user experience.
Depending on your specific needs and preferences, one platform may be a better fit than the other. It’s important to compare the features and fees of each platform before making a decision.
Overall, TransferXO may be a better option if you need to send money to a country with a less common currency or if you want to use a virtual debit card for the transfer. Yellow Card may be a better option for larger transfers or if you prefer a more complex interface.
Regardless of which platform you choose, it’s important to ensure that you have all the necessary information about the transfer, including the exchange rate, fees, and processing time. With the right platform and a bit of research, you can save time and money on your next international money transfer.