If Bitcoin becomes daily payment in Naija, which wallet type dies first

[SatoPrincess]

And it's also a lie about saying that sending Bitcoin through the Lighting network is the most cheapest, because sending it through the Binance Smart Chain is the most cheapest and fastest. But however, users will have to be using an exchange wallet to be able to send and receive through this method.

However, in the image below you could see the transfer fees from an exchange wallet (i.e Bitget Exchange), and you can see that even the fees here are even higher than using a non-custodial Bitcoin wallet which has a fee of 0.0000015 BTC.

The thing here be say these centralized exchanges dey add their own fees so the fees you dey see there na Bitget fees no be lightning fee. When person dey use lightning network to send bitcoins, na from wallet - wallet no be from cexs.

[Nathrixxx]

Of course, we all know that the answer to this will be a custodial wallet because many who are using exchanges see it as a threat to them because of the KYC challenges they may pass through when using it before making their transaction, furthermore, we should also remember that this is going to be a day-to-day digital currency we are going to be using to perform our transactions

[Salahmu]

Of course, we all know that the answer to this will be a custodial wallet because many who are using exchanges see it as a threat to them because of the KYC challenges they may pass through when using it before making their transaction, furthermore, we should also remember that this is going to be a day-to-day digital currency we are going to be using to perform our transactions

Exchange will even become more inevitable than before and even if people could have left it because of the kyc but they wouldn't still have an option but to still come back and sort out the kyc so that the transactions will be very easy for them because in non custodian wallet I don't think you can be buying any coin of your choice so actually it will still take you back to an exchange for it and besides do you think if government should give the permission people will not trade again?, actually so long as there would be trading, custodian and non custodian wallet will be very useful and even if is not important for some persons in payment but for other purposes.

[BluebloodCXVI]

I feel like this topic is pointless. Bitcoin can never replace our legal tender as a means of daily payment so there’s no need debating about it. Transaction fees and volatility would put you in a chokehold. Not to mention the government and CBN policies that will be out in place just like the same way they did with exchange wallets. Or do you think that the Nigerian government will allow what they cannot control to flourish?. That’s why most people don’t like to keep their money in exchanges because of the risks and the government policies that encompass them. Bitcoin can only be used as an alternative form of payment but it can never replace the naira so there is little wisdom in lingering over possibilities that were never destined to become a reality.