Cryptofully is a Nigerian crypto platform which facilitates remittances into Naira bank accounts globally using bitcoin. The Cryptofully app was recently launched as a sister product to crypto exchange, NairaEx.
Overview
Remittances in Naira are completed every day especially by Nigerians residing overseas when sending money back home to their loved ones or paying Nigerian gig workers and merchants.
Looking to ease global remittances, the Cryptofully app enables users to transfer money via Bitcoin to Nigerian account holders at zero charges.
The Android app has over 1,000 downloads on Google Play Store. It is rated an average of 3.6 out of 5 stars and also available for iOS on the App Store. In this article, I review the version 1.1.4 of the app based on its user interface set-up, operability of available features and feedback structure.
Operability
I found the app to offer quick response time for processes as I explored the app’s features. The main interface shows the Naira, Bitcoin and dollar tabs for every amount inputted.
However, the profile icon at the top right end of the page is too small but a gentle tap loads your profile display.
Bitcoin prices are updated in real-time and the app enables up to 150 Nigerian banks as well as fintechs including Flutterwave and Kuda for payments.
All transfers are zero-rated but the maximum amount is $5,000 – which is still 400% higher than the $1,000 limit transacted by the likes of WorldRemit and TransferWise to Nigeria.
To send money, you only have to enter the recipient’s Naira bank account number and select the bank. However, you must own an external Bitcoin wallet to fund the transfer. This is not very convenient, as users are not able to complete remittances entirely on the platform.
A Cryptofully user on the Play Store, Elvis Essomeonu noticed this and asked, “Is there a way we can fund our account using bank transfer or cryptocurrency directly from our cards?”
On the other hand, receiving payments generates a QR code Bitcoin address which can easily be shared with the sender.
With its “Bills” feature, Cryptofully users can also make payments for airtime, mobile data, Cable TV and electricity.
Feedback Structure
The Cryptofully app integrates a customer support service where users can ask questions or make complaints.
The fact that users cannot buy Bitcoin and store in a wallet via the app to easily fund transfers is a concern, with the app not wholly functioning independently. But Cryptofully says it will soon introduce the service.
