Are you interested in Bitcoin and have been looking for how to open a Bitcoin wallet in Nigeria? Not to worry! I’ve got you covered.
As a Nigerian, it’s very likely that you have heard about bitcoin and how it has helped improve Nigeria’s economy. Especially in 2021, when many crypto traders in Nigeria became ballers. So maybe, you’re tired of being a mechanic and now want to become a baller, this article will teach you what a Bitcoin wallet is, how to open a Bitcoin wallet in Nigeria, and how to secure your wallet. Check out my previous article, titled “Exploring Different Types Of Bitcoin Wallets: Which One Is Right For You?” to gain more knowledge of the types of Bitcoin wallets available and which is best for you.
What Is a Bitcoin Wallet?
Your private keys are kept in a software application called a bitcoin wallet. Let’s now create some images to establish the tempo. I want to say that a bitcoin device is secure. Keep in mind that safes have locks, so in order to access them and store money or valuables, you need the keys to secure and unlock them. Similar to Bitcoin purses, this is. As I’ve already said, bitcoin is digital money rather than physical one. You also need a wallet to keep your digital money, which is bitcoin, safe. The secret keys are the safe lock keys, and this wallet can be compared to a safe. Accessing your Bitcoin accounts and sending or receiving money both require these private keys. Your wallet contains your Bitcoin address, which is where the currency is sent when you acquire it.
CHECK OUT: Best Cryptocurrency Wallets In Nigeria
Beginner’s Guide on How To Open A Bitcoin Wallet In Nigeria
Opening a Bitcoin wallet for yourself is very easy and straightforward. You can do this with just a smartphone, either an Android or iPhone device. Here’s how to open a Bitcoin wallet with Breet:
- Download Breet app on Google Play Store or Apple Store. Breet web version will be available soon.
- Install the app on your device
- Sign up by creating a Breet account for yourself.
If signing up seems difficult for you, click here for a step-by-step simpler guide.
How to Locate Your Bitcoin Wallet Address and Share It
Whenever you want to receive Bitcoin, you will need to share your Bitcoin wallet to receive BTC. For instance, the Naira is a native currency in Nigeria. Naira is tangible; you can see and handle it. You need a Naira bank account number and bank name in order to save your Naira. You need your pin for activities that only you know to access your bank account. This holds true for Bitcoin. As of Naira, Bitcoin is digital money. Like other fixed currencies like the Ghana Cedi, there are other currencies like Ethereum.
It is possible to read this bank’s identity as the name of the cryptocurrency trading platform you are currently using. There are many Naira institutions, including Kuda, UBA, and First bank. Therefore, there are bitcoin accounts (banks) like Breet for Bitcoin.
Now the question is, how do you find your Bitcoin wallet and share? Let’s find out.
- Log into your Breet account
- You will see a different list of crypto available for trade. Click on ‘Bitcoin’
- Once clicked on, you will see your BTC wallet address displayed. You can copy the address by simply tapping on the ‘copy’ icon
- Or you can click on the ‘share’ icon and share with your senders via various communication platforms on your device.
- You can also share your Bitcoin wallet by QR code. Click on the ‘show QR Code’ button. Your QR code will appear, then your sender can scan the code to send Bitcoin to you easily.
How to Securely Use a Bitcoin Wallet
1. Don’t Use Public Internet
Wifi hosts can potentially collect data and information from transmitted internet, these include passwords, private information, and sensitive data. Public wifis are wireless connections with no encryption which makes them unsafe. Avoid public networks.
2. Create a Challenging Password
You have to use a password that will be very different for hackers to predict. Do not use cliche passwords like your date of birth, full name, or phone number. Create a more challenging phrase with a combination of words, numbers, and even symbols. Use capitalization as well.
3. Make Use Of The Two -Factor Authentication Available
Breet app offers users maximum safety. One of the protocols available is 2-factor authentication. It’s important you use this feature to give you more level-headed security in cases where you are a victim of theft.
Check out my colleague’s article on how to protect your Bitcoin wallet, to gain more ideas on safeguarding your crypto funds.
Conclusion: How To Open A Bitcoin Wallet In Nigeria
Bitcoin wallet is paramount. You cannot trade BTC without having to open a Bitcoin wallet first. I believe with the information provided in this article, you can easily open a Bitcoin wallet in Nigeria stress-free. I also have a well-researched article on how to become a better crypto trader in Nigeria, check it out. And good luck with your crypto journey!