We identified 4 areas of classification that are most important for field workers to learn when preparing to use Bitcoin: Cold storage hardware wallets, smartphone lightning wallets, Remittance receiving tools, and local Bitcoin buying/selling strategies (see the next graphic diagram). We tried to pick the best one or two options of each, including our reasoning for those choices, though it should be understood that we are not financial advisors and each person should do their own research and carefully choose the best options for their needs.
Cold Storage Hardware Wallets
The Blockstream Jade device is a cold storage hardware wallet for self-custody of on-chain Bitcoin. It is among the cheaper of the choices at approximately $65 USD, but we have not learned how accessible it is for shipping to African countries. Devices like this connect to a laptop or desktop computer to safely verify the user seed phrase when making a transaction.
Alternatively, and perhaps more appropriate for the global south context, we recommend the Tap Signer card for use in conjunction with the Nunchuk app on a smartphone with an NFC sensor. The card is used to safely verify the user seed phrase when making a transaction by coming in contact with the back of the phone. In addition, Nunchuk provides the option of sharing access to one wallet by many parties for greater security by requiring multiple signatures to make transactions (multi-sig). Africans are familiar with this type of accountable community savings group called a Chama that often uses a cash box with multiple locks on it to secure community funds.
The transfer fees for sending Bitcoin is variable and goes up as demand for sending transactions increases. Recently it has been anywhere between $.50 and $30 USD. Consequently, we recommend using a cold storage wallet like this only for long term savings of amounts of perhaps $1,000 USD or more.
Smartphone Lightning Wallets
Lightning is the name for one of Bitcoin layer 2 protocols. The benefits of using Lightning include faster transaction time and much lower fees. Buying a cup of coffee and making other everyday local exchanges is far more efficient using the lightning network. We thought Aqua might be the most advisable option for its versatility in transferring value between its three forms (on-chain, Lightning, and Liquid). Aqua operates on something called a side-chain that functions using Bitcoin, but through a sufficiently centralized federation of 15 Bitcoin-focused guardian organizations.
Fedi is another federated community software that is being developed to provide private communities of various sizes (from family to city) with their own banking and messaging platform.
Featured Remittance Tool
Strike is a smartphone app with unique features that allow users in a growing number of countries to connect the app to their bank accounts and send money directly to other global users instantly and with almost no fees. Strike accomplishes this by utilizing the global decentralized qualities of Bitcoin and the convenience of the lightning network to flash-convert the funds while in transit and back into the currency of choice for the recipient to deposit into their own bank account.
Local Bitcoin Buying and Selling Strategies
The number of reliable Bitcoin exchanges is hard to pin down. Traders often need to be scrappy about where they find others who would like to buy or sell Bitcoin on a peer to peer level. Both Telegram and the platform formerly known as Twitter are great places to look for people with whom you can set up a face-to-face meeting. There are also some online services which help facilitate peer-to-peer transactions depending on a person jurisdiction. Hodl Hodl is an escrow service that matches buyers and sellers. Bitrefill allows you to buy gift cards using Bitcoin that can then be spent at local businesses.