What is Bitcoin and how do you create a bitcoin wallet?

What is Bitcoin, How To Create A Bitcoin wallet in Nigeria? (The Best Bitcoin Wallet in 2021)

Bitcoin is the most popular one of all the cryptocurrencies in the world, It is a cryptocurrency that was created in January 2009 and is operated digitally, digital currencies are instruments that we can only see the value on public ledgers (blockchain) using our electronic gadgets e.g laptops and phones but can never be touched physically.

What is Bitcoin, How To Create A Bitcoin wallet? The Best Bitcoin Wallet in 2020.

Like every other digital currency, Bitcoin can be Traded, saved, invested, used for payment or exchanged amongst users based on agreements, since it is a peer to peer currency. It follows the white paper works of Satoshi Nakamoto, the system offers lower transaction fees unlike traditional systems e.g Banks where huge fees are charged for every transaction.

Bitcoin is operated on a decentralized network, this implies that there is no Central Bank printing the currency, distributing, monitoring, or regulating the affairs of the network. The users determine everything, in fact the higher the acceptability level of Bitcoin the higher the value of it worldwide.


Imagine the value of bitcoin as of Jan2009 — March 2010 when the value of the coin was less than a dollar, have you checked the worth of bitcoin lately in 2020? Last time I did on my Binance trading account, it was exchanged at $10,056 for one Bitcoin. Can you imagine?

This means that on a daily basis, Individuals, Societies, Groups, Nations are beginning to identify with Bitcoin and crypto technology as a whole. tell me what you are still waiting for?

Cryptocurrency Is Legal In The Following Countries

  • Morocco
  • Nigeria
  • Namibia
  • South Africa
  • Zimbabwe
  • Canada (banned by banks)
  • Mexico
  • United States
  • Costa Rica
  • Nicaragua
  • Trinidad and Tobago
  • Jamaica
  • Brazil
  • Argentina
  • Colombia
  • Chile
  • Kyrgyzstan
  • Cyprus
  • Israel
  • UAE
  • Jordan
  • Saudi Arabia
  • Iran
  • Lebanon
  • Turkey
  • India (banned by banks)
  • Pakistan
  • China
  • Japan
  • Hong Kong
  • Taiwan
  • South Korea
  • Indonesia
  • Philippines
  • Cambodia
  • Malaysia
  • Thailand (banned by banks)
  • Singapore
  • Vietnam (not allowed as a payment tool)
  • Croatia
  • Germany
  • Poland
  • Austria
  • Czech Republic
  • Romania
  • Slovenia
  • Slovakia
  • Switzerland
  • United Kingdom
  • Australia
  • New Zealand
  • Ireland
  • Netherlands
  • Belgium
  • France
  • Luxembourg
  • Greece
  • Italy
  • Bulgaria
  • Bosnia and Herzegovina
  • Malta
  • Spain
  • Portugal
  • Sweden
  • Iceland
  • Norway
  • Denmark
  • Ukraine

The legalization of cryptocurrencies doesn’t necessarily mean that the government of the particular country supports or promotes virtual currencies in any way.

Following Countries Have Declared Cryptocurrencies As Illegal

  • Algeria
  • Bolivia
  • Ecuador
  • Bangladesh
  • Nepal
  • Macedonia

Iceland, Norway, Denmark, Ukraine are some of the other currencies where it is legal to own and trade cryptocurrencies e.g Bitcoin. Bitcoins are saved & Kept in digital wallets just like you do save your money in your Local Banks, every wallet created on the blockchain network has its own wallet address where users can send funds & receive payments with, just like your Bank account numbers where you can give out for friends & family to send money to you.

Here is my Wallet Address — 1DevTTXNN5ovxYQxjsgK59nHR36ZJCScqk, feel free to send me some Bitcoins, I will be damm excited !!!

To own a wallet address, you will have to create an account with very trusted & flexible trading platforms. Digital Wallets help you to save, trade, exchange, invest your Bitcoins and other cryptocurrencies at any time, this is very simple with BinancePlatform, it is the worlds No 1 recommended platform for traders, It will only take a few minutes to get your account & wallet address set, so go follow the link above to get one for yourself.

The good thing about using Binance is that it is totally free to sign up, 100% secured, trustworthy, user-friendly, flexible, and very comfortable to surf with very low transaction fees and charges.


Binance is the leading Trading, exchange, Savings Cryptocurrency trading platform with over 1000+ crypto coins listed on the platform and traded every day by millions of traders, you can dare ask for me.

It is very clear now, that a Bitcoin Wallet stores your digital assets, while the Bank stores your FIAT currencies, MOVING ON……

What makes a wallet Best (According to the Question) is how Safe & reliable, Efficient, Easy to make transactions, lower transaction Fees, Improved features for trading, storing of digital assets, bugs fixing, responsiveness, and many others.

There are so many companies with which you could easily sign up with to create a bitcoin wallet today, I will particularly talk about BINANCE because I have very good experience of the platform (Trading & Saving, Lending, Investing my digital assets).


Binance is the third wallet I am using ever since I started copy trading crypto-signals, what I love particularly about Binance is the low transaction fees involved. sincerely finance charges far lesser than whatever other companies for buying & withdrawing cryptocurrencies. Imagine charging 20 Naira as withdrawal FEE an equivalent of (0.052USD) only.

You can do almost everything with a Binance account; Live Trading of over 500 Cryptocurrencies, storing of cryptocurrencies in your wallets, low transaction fees, Crypto margin trading, Crypto Loaning, Crypto Investments, P2P Trading; Peer to Peer transactions (You can buy and sell cryptocurrencies with other members in different countries for very good Margins.

Search no further for the best bitcoin wallet & Trading platform, SIGN UP with Binance today, it is very free and easy to manage.

Can I transfer Bitcoin to my bank Account?

Of course, you can always send the profit made from accruing or trading bitcoins for a period of time to your Bank. For this to work, then you will need to verify your account using either a National Identity Card, Drivers License, or International Passport.

The whole transfer is very easy once you have passed the verification stages, Personally I use Binance for my Bitcoin Investments and trading. The process takes just 4 minutes to get my Funds in NGN to my local Bank.


First Click on Wallet on the Top dashboard, this will Open up to the Balance, Deposit & Withdraw Session. Navigate to the withdrawal session, Click on Withdraw Select FIAT as seen below. Input the amount you want to withdraw in FIAT then Continue.


One thing I love about Binance is the Lower fees they charge for transactions. Imagine paying 10 Naira (0.026 USD) for transactions (check the screenshot). Amazingly Binance is free, you can SIGN UP for an account today and start enjoying your trades with over 1200 Cryptocurrencies, 24/7 withdrawals of your Bitcoins to your Local Banks, low charges, and lots more.

Credit Me On MEDIUM, these motivations keep me going….. 🤙🤙🤙🤙

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