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Written by Ryan Scribner on May 8, 2023
FTC Disclosure

Is Yotta A Legit Savings Account In 2023?

Ryan Scribner is an angel investor in Yotta. 

Yotta is a new financial technology company that offers its customers a chance to win big while saving money.

But with so many new financial startups popping up every day, it’s reasonable to question whether Yotta is a legitimate company.

In this article, we will discuss the legitimacy of Yotta based on the information available.

Is Yotta Legit?

First and foremost, Yotta is legit.

The company is FDIC insured for $250,000 through its partnership with Evolve Bank & Trust, a Memphis-based bank founded in 1925.

Yotta also takes the protection of your personal information seriously. Any information you enter into the Yotta app is protected by 256-bit AES encryption. This means that your data is encrypted and secure when it is transmitted between your device and Yotta’s servers.

Any funds you deposit through Yotta are held by Evolve, ensuring that your money is always secure.

Plaid, a Visa-owned financial services startup, handles deposits you make using the Yotta app. Plaid is a well-established company that has been around since 2013 and has raised over $700 million in funding. This partnership adds another layer of legitimacy to Yotta.


It’s also worth noting that Yotta has an active community of users online, and the app’s founders are active on social media and also directly engage with account holders.

Yotta is backed by the startup accelerator Y-Combinator, which provides startups with seed funding, mentorship, and resources to help them grow their businesses.

Previous Winners

But the most significant proof of Yotta’s legitimacy is the fact that people have won big using the app.

The largest windfall was to the tune of $500,000, won by a residential cleaner in Atlanta, Georgia.

And in 2021, one Yotta user won a Tesla Model 3 by matching six numbers on the weekly lottery.

Final Thoughts

In conclusion, Yotta is a legitimate financial technology company that offers its customers a unique way to save money and win big.

Be sure to read our full Yotta review here for more info!

This article was generated using automation technology, and thoroughly edited and fact-checked by an editor on our editorial staff.

Article written by Ryan Scribner
Ryan Scribner wrote a book called “From Side Hustle To Main Hustle To Millionaire” about his side hustle journey. He started off as a utility worker in Upstate NY before launching his YouTube channel in 2016 as a side hustle. In 2017, he went full time with the online business, quitting his job. Since then, he has grown his channel to 800,000 subscribers. Ryan now shares side hustle tips with others and is an angel investor in many fintech companies.

Read more

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