Bitcoin Field Tools for Cross-cultural Workers

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 (https://help.blockstream.com/hc/en-us/categories/900000061906-Blockstream-Jade) 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’s seed phrase when making a transaction. Alternatively, and perhaps more appropriate for the global south context, we recommend the Tap Signer card (https://tapsigner.com) for use in conjunction with the Nunchuk app (https://nunchuk.io) on a smartphone with an NFC sensor. The card is used to safely verify the user’s 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. It’s quite important to have a working understanding of how Bitcoin’s layers function and when to apply the use of each one. Smartphone Lightning Wallets Lightning is the name for one of Bitcoin’s 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 (https://aquawallet.io) 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. Though it gives up much of the decentralized protection, it provides global access and non-custodial ownership of your assets (the user is responsible for storing the seed phrase securely). It also allows interaction with USDT, which is a stablecoin that is commonly used in exchanges or to convert to other local currencies. Fedi (https://www.fedi.xyz) 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. This option would require a group of trusted leaders to operate and a degree of technical assistance to set up. Featured Remittance Tool Strike (https://strike.me) is a smartphone app with unique features that allow users in a growing number of countries (https://strike.me/faq/where-is-strike-available-wr/) 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. The process bypasses the SWIFT system and other intermediaries like Western Union entirely. Strike requires “Know Your Customer” (KYC) compliance, which means there is an identity verification process when you open your account. Not only does Strike offer cross- border funds transfer, it also offers an easy way for users to buy or sell their Bitcoin through a connected 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. There is no active listing of global buyers and sellers. A centralized list would be difficult to keep up-to-date and carries security concerns when operating in certain jurisdictions. We’ve opted instead to give some pointers for how individuals can discover creative local options while being “shrewd as serpents and innocent as doves.” 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. In many countries, the local money changer may exchange Bitcoin in addition to various fiat currencies. In a recent training webinar, Human Rights Foundation Bitcoin Development Lead, Alex Li, suggested, “Tell the local watermelon seller that you’d like to buy from him, but all you have is Bitcoin. Perhaps he can direct you to someone who can help. He wants to sell to you after all.” A Bitcoin Core Developer who joined us in El Salvador shared the story of his year-long trip traveling the world with his family. He visited over 40 countries and in every country he found people who wanted to buy his Bitcoin in exchange for their local currency. There are also some online services which help facilitate peer-to-peer transactions depending on a person’s jurisdiction. Hodl Hodl (https://hodlhodl.com) is an escrow service that matches buyers and sellers, but one needs to pay close attention to how much fees are requested. Bitrefill (https://www.bitrefill.com) allows you to buy gift cards using Bitcoin that can then be spent at local businesses.