What is the best Bitcoin Wallet in Nigeria?

A Bitcoin wallet is an app or platform that allows you to store your BTC and conduct transactions. In this article, I’ll be telling you all about the best Bitcoin wallet in Nigeria.

What is Bitcoin?

Bitcoin is the most popular cryptocurrency with an interesting background. Founded in 2009, it is the oldest cryptocurrency and was founded by an anonymous person, Satoshi Nakamoto.

It is the most traded cryptocurrency with a current market cap of 442.22B, which stands at the position of the largest market cap in the world. 

Another interesting fact about Bitcoin is that there will only be 21 million BTC. 18.6 million have been mined in the past ten years, and only 2.3 million BTC are left to be mined.

Mining Bitcoin is the process of releasing more Bitcoin into circulation. It can only be mined every four years. This means it will take another 120 years to mine the remaining 2.3 million BTC.

With the current Bitcoin price in Nigeria being over 9 Million NGN, lots of people have jumped on this wave and are making the most of it.

Because of Bitcoin’s popularity and it’s most traded cryptocurrency in the world, Nigeria has not been left out. In a statement by PUNCH, they said, “A cryptocurrency trading platform, Paxful, has said Nigeria is the largest crypto-trading country in Africa with a trading volume worth over $760m in 2021….The company also said that Africa was leading the way for global Bitcoin, adding that the market in the continent had grown over 1,200 per cent, with countries like Kenya, South Africa, and Nigeria ranking among the highest in grassroots adoption in the world.”

Because of the increase in crypto popularity In Nigeria and Africa as a whole, numerous companies have sprung up and paved the way for the accommodation of digital currencies.

Let me tell you about the best Bitcoin wallet in Nigeria, Breet App.

Bitcoin Wallet in Nigeria- Breet App

Breet is an over-the-counter (OTC) crypto trading platform that allows users to Sell Bitcoin in Nigeria, convert them to cash, and withdraw straight to their local bank account in less than five minutes. 

Breet utilizes an over-the-counter method, which makes transactions easier, safer, and faster than P2P exchanges. Using Breet is simple and stress-free, and with a consumer-centric app interface, the trading journey from the beginning to the end is seamless. 

The Breet app is built with its users in mind, so it has a user-friendly and user-centric interface with various features to keep you up to date on the crypto world as well as provide you with crypto education, such as the “Latest Crypto News” section and the “Learn With Breet” section.

Below are some unique features of Breet

Features of Breet

1. Reward Points:

For every transaction you make on Breet, you earn a reward point. For every dollar sent to your breet wallet address, you earn a reward point, which you can redeem for cash or airtime. 

1. Rate Calculator:

On the Breet app, the rate calculator feature is available to calculate how much your BTC sent to your wallet address will be worth in Naira, depending on the current rate.

All you have to do is input the necessary details such as the crypto type, currency type (Nigerian Naira or Ghanaian Cedis), and the USD amount. When all this information has been provided, you have to click on “Calculate” and your total will be displayed according to the rate of the day, which will also be displayed.

1. Automatic Settlement:

This is a new feature recently introduced to Breet. This feature allows users to automate the process of withdrawing their funds after every transaction. Users have the option to turn this feature off or on. When turned on, after every transaction, your funds will be withdrawn straight to your local bank account provided. 

1. Incentives:

When you complete certain available easy tasks, you receive 200 reward points as incentives on Breet. You can redeem these reward points for cash or airtime. 

1. Refer and Earn:

Every user has a referral code which when shared with non-users, earns 200 reward points once they complete up to a $100 transaction(s). 

1. Two-Factor Authentication:

For a crypto exchange platform, security is very important and Breet does not take that lightly. To keep users’ funds safe, they make use of two-factor authentication for an added layer of security.

How To Generate a Bitcoin Wallet Address on Breet

This process is simple and only requires a few steps.

1. Log in to your Breet Account
2. On the dashboard, click on “BITCOIN” which opens up the Bitcoin trade page.
3. Click on “Generate Wallet Address”

Your Bitcoin wallet address is automatically generated. A QR code for scanning and the option to copy your address to your clipboard is available.

How To Sell Bitcoin on Breet

1. The first step after creating your account is to generate a Bitcoin wallet address. You do this by clicking on the Bitcoin trade page on the dashboard and selecting “generate Bitcoin wallet address”. 

1. Next, just like regular bank account details, you send your wallet address to the sender. Bitcoin sent will automatically be converted to your fiat currency. 

1. You have to wait for a minimum of 3 confirmations from the blockchain network before the transaction can be considered successful and reflected in your wallet. 

1. Your Naira value is then added to your balance and you’re ready to withdraw with ZERO FEES. 

Note that if your Automatic Settlement is on, after your transaction, your funds will be automatically withdrawn to your provided local bank account without you having to do anything.

Why Should I Use Breet?

1. Secure:

Breet makes use of two-factor authentication to make your trading process as risk-free as possible while also keeping your funds completely safe and secure.

1. Instant Fiat Payment:

Convert your crypto straight to your local currency and local bank account with the best rates.

1. No Limit:

There are no restrictions on how much you can receive, sell, convert and withdraw in a day, month, or even a year. Enjoy unlimited withdrawals with Breet.

1. No Withdrawal Fee or Hidden Charges:

Breet continues to strive for transparency, so there are no hidden charges when you make a transaction, and you can enjoy free withdrawals and don’t have to worry about hidden charges.

1. 24/7 Customer Support:

You can reach Breet support at any time of the day with multiple options to reach a representative. You can use the LIVE CHAT button available on the app, or you can contact them at [email protected] or Call/Whatsapp at 08090569499.

Conclusion

When choosing the platform to store your Bitcoin and make transactions, there are many things to consider. With all those factors in place, Breet has been deemed the best Bitcoin wallet in Nigeria. 

Breet provides an easy trading experience and numerous features to make the whole process as stress-free as possible. Their users are their main priority, so the Breet app has a clean, user-friendly, and user-centric interface with various features to accommodate new and experienced crypto enthusiasts. 

BREET is highly secure, and you can receive Bitcoin, convert it to cash and withdraw to your local bank account risk-free.