One of the features of Bitcoin and cryptocurrency, in general, is that you are entirely in control of your assets, including their safety. It would help if you safely secured your Bitcoin in the most suitable wallet.
In our today’s useful guide, we would like to share with you the best guide on how to open a Bitcoin wallet in Nigeria.
Nigeria is known for many things; the giant of Africa, the largest population in Africa, and its fast-rising cryptocurrency popularity. It has been reported that Nigerians traded Bitcoin worth N497.35 billion ($1.16 billion) from January to June 2022, according to a report by PUNCH.
With the rising popularity, it is essential that Nigerians get access to the best Bitcoin wallet to use conveniently.
But first, let’s understand what a Bitcoin Wallet is.
What is a Bitcoin Wallet?
A Bitcoin wallet is an electronic wallet which comes in the form of an application, software or platform where you can store your Bitcoin and conduct transactions.
Due to the nature of Bitcoin, you need to store them in a wallet that is as secure as possible and look out for certain features a secure bitcoin wallet must have.
How does a Bitcoin wallet work? It works just like a bank account does. Like a traditional bank, you store and save your Bitcoin in it and send and receive It when you want.
Coins themselves are not stored in the Bitcoin wallet, only the private key.
The Bitcoin blockchain stores your coins, and transfers cannot be made to another person’s crypto wallet without authorization through your private key.
Types of Crypto Wallets
There are two types of cryptocurrency wallets
- Hot wallet
- Cold wallet
Hot Wallet:
This is a cryptocurrency wallet that you only have access to through the use of the internet. These wallets are only found online.
Cold Wallet:
This type of wallet is an offline wallet that you do not need the internet to access. They are also known as Hardware wallets. They are physical wallets where you store your cryptocurrencies. With Cold wallets, you get to choose a security pin code, and you must confirm every action you make. This wallet offers total protection through its added encryption.
Best Bitcoin Wallet In Nigeria- Breet App
Considering all the factors that make up a suitable Bitcoin wallet, I recommend Breet.
Breet is an African OTC cryptocurrency trading app where users can receive Bitcoin, sell, and withdraw straight to their local bank account in their fiat currency in less than five minutes.
Unlike other exchange platforms, which mainly use peer-to-peer, Breet uses an over-the-counter method. An OTC crypto trading method is where a transaction is made between two parties without the involvement of intermediaries or a third party.
The OTC crypto trading method makes selling your Bitcoin on Breet much easier, faster and safer.
Selling your Bitcoin is quick and easy on Breet, as the app was built specifically with the users in mind. It is easy to navigate, so it helps the users trade their cryptocurrency seamlessly.
Breet does not accept Bitcoin alone; instead, there is an array of cryptocurrencies to trade. Cryptocurrencies such as;
- Ethereum
- Litecoin
- Tether USDT
- Dogecoin
- Bitcoin Cash
They are currently available in Nigeria and Ghana and have plans to be made available to other countries around Africa in the near future.
Breet also has unique features that add to users’ superb crypto trading experience.
Features of Breet
1. Zero Fees:
Conducting transactions with Breet is 100% free. Breet does not charge a deposit or withdrawal fee, and there are no hidden charges. Be assured that you get the most out of your crypto coins when trading with Breet.
2. Two-Factor Authentication:
The safety of your assets is essential to the Breet team, so with two-factor authentication available, you can trade your Bitcoin risk-free.
3. Free Crypto Wallet:
Your Breet account comes with a free-to-generate crypto wallet address, a different wallet for all supported crypto on Breet. With this wallet, you can receive crypto from all over the world and withdraw straight to your local bank account. It only requires a few steps and is generated within seconds.
4. Referral Program:
Every Breet user has a unique referral code which they can share with people to join Breet. When they share their referral code, they and the new user(s) get 700 free reward points.
5. Reward Points:
These are points you get for every transaction made on your Breet account. For every 1 dollar sent to your Breet wallet, you get 1 point.
Recently, Breet increased the new user reward points from 100 to 700! They can claim these points when they register.
One reward point equals 1 Naira. You can redeem these points for cash or airtime.
6. Automatic Settlement:
With this feature, you do not need to withdraw your funds to your local bank account manually. Instead, when turned on, your funds are immediately transferred to your local bank account after completing a transaction.
You have the choice to turn this feature off or on.
7. No Deposit or Withdrawal Limit:
There are no limits when trading on Breet. You can deposit or withdraw any amount you want without worrying about hidden charges. There are no limits if you wish to receive, sell, convert, or withdraw money daily, monthly, or annually.
8. 24/7 Breet Customer Support:
No matter the time of the day, there is always a Breet representative ready to listen to your enquiries and solve your trading issues. For Breet support, you can get in touch with a Breet representative at [email protected] or Call/Whatsapp at 08090569499, or you can use the LIVE CHAT button available on the app.
How To Register on Breet
So you have decided you deserve peace of mind while selling your Bitcoin? Here’s how to register on the best app to sell Bitcoin in Nigeria, Breet
- Download the app from Google Play Store or Apple App Store
- Click on REGISTER
- Enter all required details
- A verification code will be sent to your provided email address
- Input the code
That’s it!
How to Open a Bitcoin Wallet In Nigeria
I believe after knowing more about Bitcoin, you would love to know much about how to open a wallet for your bitcoin in Nigeria, and we have the best guide for you to follow and learn how to open a Bitcoin wallet in Nigeria. Opening a Bitcoin wallet address is super easy on Breet and only requires a few steps.
- Log in to your Breet account
- On your dashboard, click on BITCOIN.
- Scroll down and click on GENERATE BITCOIN WALLET ADDRESS
That’s all! You can now receive Bitcoin from all over the world and sell it for the best rates on Breet.
Conclusion
With Breet, opening a Bitcoin wallet address is quick and super easy. Due to the app’s simplicity, trading with Breet is a stress-free experience, and thousands of users have attested to this with good reviews.
To begin selling your Bitcoin and getting the most out of it, download the Breet app from Google Playstore or Apple App store and start trading!
Kindly note that this article should not be taken as financial advice.