Bitcoin Wallet, Which One?
So, we know the world is changing and we know the fintech sector is key when it comes to payments, processing transactions etc. In my previous post, I covered some of the key players in brief when it comes to bitcoin. Was speaking to a few people in third world countries who are finding challenges when it comes to bitcoin wallets etc. This then provoked me to put something for the benefit of many. Many of these countries now have an option as you will see in this post. This also includes countries like Zimbabwe etc
I suppose one of the fundamental questions is of course, what your goals are for the wallet and also the type of digital currencies you are after. This then further extends to your long term play when it comes to the Digital Currencies. This is important as you will see. Okay, in saying that, lets dig in.
Wirex.
This is a global player, and as per my previous post, have a new partnership with Mastercard that should hit the market any moment. This new mastercard will bethe world’s first multicurrency card. Also their recent offering in the market was oversubscribed and they hit their official target to raise 1 million pounds in a few hours. They also have a VISA ATM card, and also run promotions from time to time, with different rewards etc. This could be from getting reimbursement for a percentage of your spending etc. So for someone who is interested in having a card, plus the rewards, and of course your actual bitcoin wallet, this can be the path for you. Some countries are unavailable for the full scope of services. In some countries Wirex isn’t available. In saying that, for a full list of countries and what features key featurs are available, go through the list. A place like Estonia is also on the list, and has full scope of service whilst countries like Zimbabwe dont make it on the list of countries that have the service. Of course, Wirex covers all the major digital currencies, from Bitcoin, Ether etc
Coinbase.
Coinbase is a key player when it comes to Bitcoin. Very big across Europe and has been a competitor for Wirex for a bit. I have bumped into a few coinbase VISA Cards across the socials, from Facebook to Whats App groups etc. This of course means, there is an ATM card. Recent news is of course is that Coinbase will be going on the offensive in the American market. It boasts of over 100 countries and also over 35 million customers. In some countries, you can buy, sell and convert, but in some countries, you can only covert. This will differ of course depending on many things including the local regulations as instituted by the revelant jurisdictions. For example, in some countries, you cant sell bitcoin. For a full list of countries and what is permissible and available when it comes to Coinbase, have a look at their compehensive list. Of course, if you are in Monaco, or Luxemborg, you can do all three, buy, convert and sell! This is the part where I tell you that both countries are my dream destinations, particularly Monaco.
Blockchain
This is one of the popular ones. You are able to buy, hold and use Bitcoin. Blockchain boasts of $620 Billion in terms of transactions. Deposits can be made in four fiat currencies, Turkish Lira ( TRY), Euros, British Pound ( GBP), and of course the US Dollar (USD). There is also 24/7 Live Chat. In terms of Social Channels, there is Turkish Telegram and also the English Telegram. We then have the staples, Facebook, Instagram, and of course Twitter.There is also a dedicated Twitter channel specifically for Support purposes. Another cool feature is the ability to exchange one crypto for another one. I went through some of the countries supported, South Africa is supported, Zambia and Zimbabwe are some of the countries that are not supported. This echoes one of the things that I have been very vocal about, that many third world countries will continue to miss out on some of the new developments in industries because of issues that make it next to impossible to gain forex and move it etc. In a lot of third world countries that are being plagued by chronic poverty, its next to impossible for the average person on the street to be able to gain or have access to forex etc. Not only that, in some countries, its easy to get forex inside the country, but its a mammoth task to get it out, this also makes such countries difficult to do business with and some companies and investors, simply stay away from such countries to avoid ‘’headaches’’. In saying that, Blockchain is one of the leading Bitcoin Wallet Platforms, and for a full list of which countries are supported etc check your country here.
Paxful
This is considered a Peer to Peer Bitcoin Marketplace. They list their mission, as to “empower the forgotten 4 Billion unbanked and underbanked, so that they have control over their money in a way, that they have never had before.” One of their values, is to ‘’Stay Connected to the Streets”’, which is something that I have found fascinating. Growing up in Africa, where I saw raw talent and raw hustle and people considered, ‘’Street Savvy’’, who never lacked a day in their lives. Some didnt do exceedingly well, but they stayed afloat despite the harsh economic climate, their ability to master the ‘’streets’’ meant they knew when to change markets, drop a product, pick up a new one, change countries etc One time, people were flocking to South Africa, to buy and sell goods of all kinds, then the market shifted, and then came Botswana, and then Namibia etc. In saying that, many of those people with their hustle, were able to send kids to school, some of those kids grew up, graduated and some have settled in the corporate world across many countries.
So, that value to, ‘’stay connected to the Streets’’, just reminded me of the power of being street savvy. Paxful pride themselves in not being in a ‘’Skyscrapper’’ but being ‘’on the streets’’ with the people. In simple terms, they are always talking to their users, and making adjustments as necessary as they move and grow like that. They boast of having 300 payment methods available. Yes, you read that right, 300 payment methods. Your Crypto Wallet is easy to set up and is free. In saying that, some Third World countries are banned and some countries are deemed high risk. Was going through the list and its a very interesting list. Some of the many countries, there is a lot of political tension if you are paying attention to media reports. In saying that, you can have a look
CONCLUSION.
Whilst there are many wallets out there. I wanted to feature some of the key ones here. In saying that, you can choose your Wallet based on your needs, be it short term or long term goals. Some of these providers, provide an ATM Card and some dont, service differs from country to country and also company to company. So choose what works for you and do you due diligence. In saying that, this is a new decade where we are seeing industries and commerce evolve and transform. Its an exciting time to be alive. Digital Currencies are here, and there is no turning back!
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Regards
Wis