Technext Technext
  • Home
  • Stories
    • With the European Super League Targeting $10Bn in Broadcast Rights, Fans Might be Paying More to Watch
      With the European Super League Targeting $10Bn in Broadcast Rights, Fans Might be Paying More to Watch
      8 hours ago 0
      57
    • POS and Mobile Growth Drove e-Payment Transactions to Record N58.8tn in Q1 2021
      POS and Mobile Growth Drove e-Payment Transactions to Record N58.8tn in Q1 2021
      10 hours ago 0
      42
    • ‘Uber and Bolt will Feel it’: e-Hailing Drivers Say as they Begin Week-long Strike
      ‘Uber and Bolt will Feel it’: e-Hailing Drivers Say as they Begin Week-long Strike
      11 hours ago 0
      70
    • Clubhouse Raises Undisclosed Series C Fund at $4Bn Valuation as Competition Grows
      Clubhouse Raises Undisclosed Series C Fund at $4Bn Valuation as Competition Grows
      13 hours ago 0
      48
    • Andela Announces Global Expansion With Developers in 37 Countries Including Latin America
      Andela Announces Global Expansion With Developers in 37 Countries Including Latin America
      15 hours ago 0
      53
    • Tech Events this Week: Digital Economic Summit, Crypto Regulation Webinar and Others
      Tech Events this Week: Digital Economic Summit, Crypto Regulation Webinar and Others
      16 hours ago 0
      38
    • Social Media Roundup: Twitter in Ghana, Ahmed Musa Rejoins Kano Pillars and others
      Social Media Roundup: Twitter in Ghana, Ahmed Musa Rejoins Kano Pillars and others
      2 days ago 0
      47
    • ‘Banks Told me I was too Young to Buy Stocks’ – Tomie Balogun on why she Ventured into Investments
      ‘Banks Told me I was too Young to Buy Stocks’ – Tomie Balogun on why she Ventured into Investments
      3 days ago 0
      89
    • Global Tech Roundup: Facebook Faces $3.4Bn Fine for Latest Data Breach
      Global Tech Roundup: Facebook Faces $3.4Bn Fine for Latest Data Breach
      3 days ago 0
      60
  • Features
    • Jamb Isn’t the First! Here are 10 times Nigerian Govt Agencies have Been Hacked in the Last Decade
      Jamb Isn’t the First! Here are 10 times Nigerian Govt Agencies have Been Hacked in the Last Decade
      4 days ago 0
      100
    • Ramadan Kareem: 5 Ways Tech Can make Ramadan Easier for Your Body and Soul
      Ramadan Kareem: 5 Ways Tech Can make Ramadan Easier for Your Body and Soul
      7 days ago 0
      132
    • Identity Theft, Foolproof Scams: How Data Breaches in Tech Companies can Cost You
      Identity Theft, Foolproof Scams: How Data Breaches in Tech Companies can Cost You
      1 week ago 0
      139
    • CBN’s BVN Verification Ban: What it Means for Nigerian Fintechs and their Customers
      CBN’s BVN Verification Ban: What it Means for Nigerian Fintechs and their Customers
      2 weeks ago 0
      503
    • ‘Limiting Mindsets Prevent Women from Making the Most of Tech Communities’ – Temilade Adelakun
      ‘Limiting Mindsets Prevent Women from Making the Most of Tech Communities’ – Temilade Adelakun
      2 weeks ago 0
      197
    • Electronic Transactions Increased by 77% to N2.3bn in 2020 as USSD Transactions Increased by 80%
      Electronic Transactions Increased by 77% to N2.3bn in 2020 as USSD Transactions Increased by 80%
      2 weeks ago 0
      195
    • The dying cybercafe culture is still driving ICT penetration in low-income areas
      The dying cybercafe culture is still driving ICT penetration in low-income areas
      2 weeks ago 0
      266
  • Reviews
    • POS and Mobile Growth Drove e-Payment Transactions to Record N58.8tn in Q1 2021
      POS and Mobile Growth Drove e-Payment Transactions to Record N58.8tn in Q1 2021
      10 hours ago 0
      42
    • Tech Events this Week: Digital Economic Summit, Crypto Regulation Webinar and Others
      Tech Events this Week: Digital Economic Summit, Crypto Regulation Webinar and Others
      16 hours ago 0
      38
    • Global Tech Roundup: Facebook Faces $3.4Bn Fine for Latest Data Breach
      Global Tech Roundup: Facebook Faces $3.4Bn Fine for Latest Data Breach
      3 days ago 0
      60
    • Fundall is Helping Nigerians Gain Financial Intelligence and Make Investments
      Fundall is Helping Nigerians Gain Financial Intelligence and Make Investments
      4 days ago 0
      76
    • Lagos is the PoS Capital of Nigeria with about 70% of Total Transactions Carried out in 2020
      Lagos is the PoS Capital of Nigeria with about 70% of Total Transactions Carried out in 2020
      6 days ago 0
      134
    • Tech Events this Week: Cashless Africa, Deloitte’s Black in Tech Summit and Others
      Tech Events this Week: Cashless Africa, Deloitte’s Black in Tech Summit and Others
      1 week ago 0
      138
    • Global Tech Roundup: Twitter Wanted to Buy Clubhouse for $4 Billion!
      Global Tech Roundup: Twitter Wanted to Buy Clubhouse for $4 Billion!
      1 week ago 0
      172
  • Women in Tech
  • Videos
  • Contact Us
Go to...

    App Review: Cryptofully Eases Global Remittances Through Bitcoin, but it has no Wallet Feature Yet

    Gbemileke Babatunde
    4 months ago
    App Review: Cryptofully Eases Global Remittances Through Bitcoin, but it has no Wallet Feature Yet

    Cryptofully is a Nigerian crypto platform which facilitates remittances into Naira bank accounts globally using bitcoin. The Cryptofully app was recently launched as a sister product to crypto exchange, NairaEx.

    Overview

    Remittances in Naira are completed every day especially by Nigerians residing overseas when sending money back home to their loved ones or paying Nigerian gig workers and merchants.

    Many Nigerians now prefer to process remittances through crypto platforms due to lower charges, faster completion rates and higher limits on maximum transaction volumes. This is unlike traditional international money transfer operators which are more expensive and take longer processing times.

    For instance, WorldRemit charges up to $28 on every $1,000 transaction to Nigeria which could take up to 3 days before completion.

    Suggested read: TransferWise, WorldRemit; Top 5 Platforms to Send and Receive Money Globally

    Looking to ease global remittances, the Cryptofully app enables users to transfer money via Bitcoin to Nigerian account holders at zero charges.

    The Android app has over 1,000 downloads on Google Play Store. It is rated an average of 3.6 out of 5 stars and also available for iOS on the App Store. In this article, I review the version 1.1.4 of the app based on its user interface set-up, operability of available features and feedback structure.

    User Interface

    The Cryptofully app comes with a very simplified user interface that makes signing up to the platform easy and quite straightforward.

    Cryptofully app screenshot

    After installing the app, I set up my account within five minutes. Sign-up details required are your email address, a unique username, password and a 4-digit security code. You can also enable a fingerprint lock for added security.

    Once your registration is approved, you will have to verify your email. Upon successful verification, you will then be redirected to the Cryptofully home page.

    Operability

    I found the app to offer quick response time for processes as I explored the app’s features. The main interface shows the Naira, Bitcoin and dollar tabs for every amount inputted.

    However, the profile icon at the top right end of the page is too small but a gentle tap loads your profile display.

    Cryptofully app screenshot

    Bitcoin prices are updated in real-time and the app enables up to 150 Nigerian banks as well as fintechs including Flutterwave and Kuda for payments.

    All transfers are zero-rated but the maximum amount is $5,000 – which is still 400% higher than the $1,000 limit transacted by the likes of WorldRemit and TransferWise to Nigeria.

    To send money, you only have to enter the recipient’s Naira bank account number and select the bank. However, you must own an external Bitcoin wallet to fund the transfer. This is not very convenient, as users are not able to complete remittances entirely on the platform.

    A Cryptofully user on the Play Store, Elvis Essomeonu noticed this and asked, “Is there a way we can fund our account using bank transfer or cryptocurrency directly from our cards?”

    On the other hand, receiving payments generates a QR code Bitcoin address which can easily be shared with the sender.

    Cryptofully app screenshot

    With its “Bills” feature, Cryptofully users can also make payments for airtime, mobile data, Cable TV and electricity.

    Feedback Structure

    The Cryptofully app integrates a customer support service where users can ask questions or make complaints.

    After my experience using the app, I asked the contact person “Nora” if I could buy Bitcoin and save it in a wallet on cryptofully. She responded in about five minutes.

    Cryptofully app screenshot

    The fact that users cannot buy Bitcoin and store in a wallet via the app to easily fund transfers is a concern, with the app not wholly functioning independently. But Cryptofully says it will soon introduce the service.


    If you’d like to get featured on our Entrepreneur Spotlight, click here to share your startup story with us.


    SUBSCRIBE

    Get latest Technology news, reviews, business-related content with a deliberate emphasis on the African narrative and insightful analysis in Nigeria – straight to your inbox.


    Comments

    Share :
    • Facebook
    • Twitter
    • Google+
    • Pinterest
    • Linkedin
    • Email

    Gbemileke Babatunde

    Mechanical Engineer; Telling Africa-focused tech stories on startups, policy and governance.

    Russian Government Officials and Family Members to Declare their Crypto Assets According to New Order
    Next article
    Russian Government Officials and Family Members to Declare their Crypto Assets According to New Order
    Tech Events this Week: Digitalisation of African Agriculture Webinar, TC  Space 2020 and Others
    Previous article
    Tech Events this Week: Digitalisation of African Agriculture Webinar, TC Space 2020 and Others

    Related Posts

    • Stories 8 hours ago

      With the European Super League Targeting $10Bn in Broadcast Rights, Fans Might be Paying More to Watch

      With the European Super League Targeting $10Bn in Broadcast Rights, Fans Might be Paying More to Watch
      Reviews, Stories 10 hours ago

      POS and Mobile Growth Drove e-Payment Transactions to Record N58.8tn in Q1 2021

      POS and Mobile Growth Drove e-Payment Transactions to Record N58.8tn in Q1 2021
      Stories 11 hours ago

      'Uber and Bolt will Feel it': e-Hailing Drivers Say as they Begin Week-long Strike

      ‘Uber and Bolt will Feel it’: e-Hailing Drivers Say as they Begin Week-long Strike
    • Stories 13 hours ago

      Clubhouse Raises Undisclosed Series C Fund at $4Bn Valuation as Competition Grows

      Clubhouse Raises Undisclosed Series C Fund at $4Bn Valuation as Competition Grows
      Stories 15 hours ago

      Andela Announces Global Expansion With Developers in 37 Countries Including Latin America

      Andela Announces Global Expansion With Developers in 37 Countries Including Latin America
      Reviews, Stories 16 hours ago

      Tech Events this Week: Digital Economic Summit, Crypto Regulation Webinar and Others

      Tech Events this Week: Digital Economic Summit, Crypto Regulation Webinar and Others

    Bitcoin Recent Prices

    Brandest

    Sign up for Newsletters

    Popular News

    • Global Tech Roundup: Facebook Rolls out Vanishing messages on Instagram and Messenger
      Global Tech Roundup: Facebook Rolls out Vanishing messages on Instagram and Messenger
      5 months ago 0
    • Bus-hailing Startup Plentywaka Joins Techstars Accelerator, Plans Expansion into Canada
      Bus-hailing Startup Plentywaka Joins Techstars Accelerator, Plans Expansion into Canada
      1 month ago 0
    • How PayCentre Processed N60bn Worth of Transactions in 2018 Using Just A Network of Agents
      How PayCentre Processed N60bn Worth of Transactions in 2018 Using Just A Network of Agents
      May 14, 2019 0
    • AfDB Announces $2m Fund for African Fashion and Tech Entrepreneurs
      AfDB Announces $2m Fund for African Fashion and Tech Entrepreneurs
      September 27, 2018 0
    • Tech Events in Africa: Ogun Digital Summit, AR/VR Africa Meetup and Edustart Global Conference
      Tech Events in Africa: Ogun Digital Summit, AR/VR Africa Meetup and Edustart Global Conference
      January 20, 2020 0

    Follow Us

    Latest Tweets

    • technextdotng New post: With the European Super League Targeting $10Bn in Broadcast Rights, Fans Might be Paying More to Watch https://t.co/outy0AwjP7
      about 4 hours ago
    • technextdotng New post: Dear Nigerians, We Might be Paying Much More to Watch the European Super League https://t.co/outy0AwjP7
      about 7 hours ago
    • technextdotng RT @mmekid_mfon: I’ve not opened my clubhouse app in a month. The initial excitement seems to be wearing out, but happy to see them raising…
      about 7 hours ago
    • technextdotng New post: POS and Mobile Growth Drove e-Payment Transactions to Record N58.8tn in Q1 2021 https://t.co/GpMChhRmaQ
      about 9 hours ago

    Instagram

    technextdotng

    Technext.ng is the go-to site for news, reviews and insightful analysis in the Nigerian tech space.
    http://ow.ly/ayTM30mSlGS

    The Federal Government of Nigeria has lifted its s The Federal Government of Nigeria has lifted its suspension on the sale and activation of new SIM Cards in the country from Monday, 19th of April 2021.

So if you have you been wanting to get one, you can get from now.
.
.
.
.
 #Nigeria #Terrorism #Communication #Tech #TechNews
    Nigeria’s Joint Admissions and Matriculation Boa Nigeria’s Joint Admissions and Matriculation Board (JAMB) has reported that hackers breached its website.

Speaking to journalists, the registrar of the board, Ishaq Oloyede, revealed that the hackers stole over N10 million after gaining access to its intranet site and altering the profiles of its ad hoc staff.

He added that the investigation led to the arrest of one Sahabi Zubairu from Taraba state, among several others.

Sahabi, however, isn’t the first hacker to successfully hack a government website. Over the last 10 years, there have been several attempts but not all have been reported.

Based on Technext’s findings, here are some of the government hacks that have been reported in the last decade.
.
.
.
.
.
#cybersecurity #infosec #IoT #AI #hacking #hacker #pentest #tech #code #coding #python #php #linux #java #webdev #programming #programmer #webdeveloper #digital #technology #security #government
    @uduXmusic, a Nigerian music streaming service has @uduXmusic, a Nigerian music streaming service has partnered with @Piggybanng to developed an artists investment program called #PopRev. The new product will allow fans to invest in a musician’s project and make profits based on its digital streaming performance.

According to the CEO of uduX, Chidi Okeke, PopRev intends to harness the opportunity between musicians and people who are directly ‘invested’ in their music.
.
.
.
.
.
#dj #radioshow #podcast #electronic #dance #music #progressive #pro #Spotify #Nigeria #Africa #music #love #hiphop #art #rap #musician #singer #rock #life #dance #photography #song #guitar #happy #style #producer #fashion #newmusic
    In the wake of the planned boycott by Kenya’s e- In the wake of the planned boycott by Kenya’s e-hailing drivers, Bolt PR Manager for Africa, Nthabiseng Mokoena has told Technext that the e-hailing company is currently reviewing rates to arrive at a favourable outcome for driver-partners.

Ride-hailing drivers in Kenya under the aegis of the Digital Taxi Forum had recently threatened to withdraw their services if Uber and Bolt do not increase base fares and/or cut down commissions following a sharp increase in fuel prices. The drivers gave e-hailing operators a 30-day ultimatum to meet their demands or face a massive boycott.
.
.
.
.
.
#survivalfundng #survivalfund #msmes #msmes #kenya #bolt #boltdrivers #uber #transportworkers
    @JoinClubhouse has raised Series C funding from it @JoinClubhouse has raised Series C funding from its partners. The amount is undisclosed but the startup says the round was led by Andrew Chen at a16z and had participation from major investors including DST Global, Tiger Global, and Elad Gil.

The startup released its iOS app in March 2020 and raised funds at a $100 million valuation in May of the same year. 

Now a unicorn, the startup’s valuation has grown exponentially since its first raise and its latest raise is reportedly at a valuation of $4 billion according to market rumours.

With this raise, the unicorn says it will be focusing on scaling its team heavily to support international growth.
.
.
.
.
.
#startupnews #startupstories #startupstory  #clubhouse #clubhouseapp #Tech #Startups #SocialMedia #App #MobileApp #Voice #Tech
    @TomieBalogun did not start out with the goal to p @TomieBalogun did not start out with the goal to provide highly sought-after financial insights for over 60,000 Millenials by the year 2021. But, when she realized that she had a challenge with increasing her wealth even after working a number of corporate jobs, she decided to do something about it.

Currently, her fintech startup, The Green Investment Club, is on the verge of committing a 6-figure fund in dollars into a venture capital (VC) vehicle to be invested into African startups. TGIC has invested over $14 million into small and medium businesses and created more than 2,000 jobs. Tomie is also the founder of The Vestract Company; a financial education and investment opportunity platform.
.
.
.
.
.
.
.
#investingwithtomie #tomiebalogun #themillennialinvestor #forextrader #forextrading #fxtrader #daytrading #forexprofit #millionairemindset #technicalanalysis #VentureCapital #VC
    Load More... Follow on Instagram

    Random News

    • Google Pledges $6m to Help Innovative Non-Profit Organisations in Africa
      Google Pledges $6m to Help Innovative Non-Profit Organisations in Africa
      May 24, 2018 0

      Google has announced the launch of its 2018 Google Africa Impact Challenge, which will give $6 million to selected innovative ...

      Read More
    Copyright 2020 technext.ng | Privacy Policy | Media Policy