7 Things You Can Do On the Bitnob APP

By Kwabena Okyire Appianing •  Updated: 07/09/21 •  5 min read

Growing up, I kept hearing that seven is the number of completeness and perfection. My overly religious mother never failed to remind me of the significance of the number, 7.

Not that I cared much about the number 7 but I always indulged her. Upon writing this article today, I went down memory lane of my mother’s love for the number 7 and it felt like a full circle, thinking about the perfection that is Bitnob.

What is Bitnob?

Bitnob is the leading Bitcoin savings platform in Africa that helps users to grow and protect their wealth over time, through automated savings.

But there is even more to Bitnob, that you can leverage on as a Bitnob user. Below are seven things that you can do with Bitnob –

Bitnob’s key feature is the Bitnob Plan. This feature is at the very core, Bitnob’s purpose to solve the challenges its target audience have regarding investment in Bitcoin.

It is widely believed that Bitcoin investment is for the big guns, who are very rich in DOLLARS and given the volatile nature of Bitcoin, many people see investment in Bitcoin as very high risk and this couldn’t be further from the truth, especially when you are investing through a strategic and thorough platform as Bitnob.

Not only has Bitnob demystified investment in Bitcoin regardless of one’s financial status, Bitnob leverages Dollar Cost Averaging, which is an age-old investment strategy, to help protect your investment even in a highly volatile market like Bitcoin.

What is the significance of this? It simply means that even with as little as $1, you too can create a plan on Bitnob, gain access to some units of Bitcoin and grow your wealth gradually.

It is a double packed feature that helps you to make automated investment in Bitcoin while maximizing your gains and minimizing loss, as against when you invest huge sums of money in Bitcoin at once.

On Bitnob, users are referred to as Nobles and you can send USD to them at any time for FREE! It is a very seamless process, all you need is the accurate username of the account you intend to send USD to, just click send on your USD wallet, input the username you are sending to, the amount and a note if you like to.

For every transaction that you carry out on your Bitnob app, you will be provided the transaction history.

Recently, Bitnob introduced a feature, through which you can send USD to external wallets on other Fintech platforms.

With this new feature, it is easier to transfer money from your Bitnob account to external accounts, without having to withdraw into your bank account or mobile money account first.

To be able to carry out this transaction, you need to first activate the partner company on the Bitnob app and confirm that the external wallet you intend to send USD to is on a Fintech platform that has been activated.

Aside from investing in Bitcoin, many people love to buy and sell Bitcoin. Which is why on Bitnob, you have the opportunity to buy and sell Bitcon in very simple steps! And the best part is that you can buy and sell Bitcoin instantly on the app.

You do not need to spend so much time trying to carry out a BTC purchase or sale on Bitnob.

By the time you are done carrying out any of your preferred transactions, either of your USD wallet or your BTC wallet will be credited instantly, and the best of this is that the transaction fee for either of these is very low.

On Bitnob, you can receive or send BTC from and to other Bitnob wallets or external wallets.

To receive Bitcoin from external wallets, you can generate your BTC wallet or provide your username to receive Bitcoin from other Bitnob users.

Likewise, you can send Bitcoin to other Bitnob users by inputting the accurate username and with the accurate BTC wallet address, you can send Bitcoin to external wallets.

The best part of sending Bitcoin to external wallets, is that you can choose how fast you want your transaction to be processed by simply choosing a priority fee. Trust me, even the priority fee is lower than the regular fees of other Bitcoin platforms.

One of the key things you can do on Bitnob is to withdraw your money at any time.

On Bitnob, you can withdraw into your bank account, your mobile money account or to your wallet on other Fintech platforms.

Currently, Bitnob pays withdrawal transactions via two currencies — Cedis for its Ghanain users and Naira for its Nigerian users. Upon withdrawal, you will be shown the equivalent of your transaction in your local currency, as well as be shown the exchange rate.

Nobcredit may just be my favorite feature on the Bitnob app. Staying true to its purpose of helping users grow wealth, Bitnob has the loan feature, built to encourage users to still HODL their Bitcoin, instead of selling in the event of emergency needs.

With this feature, you can easily apply for a loan, using your Bitcoin as collateral. The loan that you take can be repaid over a period of three months to twelve months and immediately you are done repaying your loan, your Bitcoin used as collateral will be returned to you within twenty four hours.

I know that the title of this article is “7 things you can do on Bitnob” and I started by saying that seven is synonymous with perfection, but I will be doing you a huge disservice if I do not tell about this extra amazing thing you can do on Bitnob. Who knows, it may even be more beneficial to you than you would assume.

Kwabena Okyire Appianing