If you have ever tried to send money home from somewhere outside Nigeria, you know about the challenges with existing digital transfer applications.
In this article, you will discover how to send money to Nigeria online within minutes and without hassle using Cryptofully.
Remittances to Nigeria
Nigeria represents a large chunk of remittance flows to Africa. It represents the biggest migrant remittance flows to Sub-Saharan Africa together with Egypt, according to PWC.
However, Africa remains the most expensive place to send money to, with an average cost of around 9.4% in 2019.
The central bank of Nigeria estimates that the annual remittance inflow is close to $24bn and is expected to continue to grow in the next few years. As this is the case, diaspora Nigerians need a platform that allows them to send money to Nigeria fast and cheaply.
Cryptofully: the Easiest Way to Send Money to Nigeria Online
Cryptofully understands the frictions Nigerians face when sending money to their home country. The blockchain-powered platform helps to solve these issues and makes it easy to send money to friends and families in Nigeria.
The digital platform allows people to send money from anywhere in the world to any Nigerian bank by using the blockchain to enable fast settlement of transfers and enables low fees. It works if you already have bitcoin or don’t want to interact with bitcoin directly. The payment options available include debit card providers like Visa and Mastercard to send money to Nigeria. Alternatively, you can also use Apple Pay or Google Pay as payment options.
Cryptofully leverages a local peer-to-peer network on the backend that enables it to convert dollar and bitcoin transfers into naira and directly settle in a Nigerian bank account. However, this process is absorbed from users, allowing you to have a smooth experience.
All you have to do is sign up, fill in the amount you intend to send, put in the details of the recipient and send money to your recipient.
How to Send Money to Nigeria Using Cryptofully
Use the Cryptofully Mobile App to Send Money to Nigeria
Step 1: Create an account on Cryptofully app
- Search for Cryptofully on Google Playstore or Apple iOS store.
- Download the Cryptofully app
- Create your account with an email address. Set a username, password and security code to keep your app safe.
An email is sent to your email address to verify the email address you used to register.
- Add a Nigerian bank account to your account. You would need a BVN for this section. Complete the KYC with your BVN and add a bank account.
Congratulations, your account verification is successful! The whole process doesn’t take more than 3 minutes, including verification.
Now, let’s send some money to a family member living somewhere in Nigeria.
Step 2: Specify the amount you want to send to this family member
- Log into your Cryptofully account on the app, which you should have set up.
- Choose the preferred currency you want to send the money in from your end: either naira, Bitcoin, US dollars, or Dash.
- Put in the amount you want to send.
- Click on ‘Send.’
- A pop-up will appear. Choose Bitcoin as the preferred option.
Step 3: Time to specify the bank account details of the person receiving the money
- Fill in the recipient account number, bank name, and your email address.
- You can save the account details as a beneficiary too.
- On the next page, you are shown a Bitcoin wallet address to send the BTC equivalent of the amount you want to send.
- Send the BTC equivalent and within a few minutes, the money is received by your family member in their Nigerian bank account.
Use the Web App to Send Money to Nigeria Within Minutes
1. Visit https://www.cryptofully.com