Revolut vs PayPal: Which App Works Better for Nigerians Abroad?
Nigerians increasingly use CoinCola for spot trading, how to get bitcoins in Nigeria, and escrow-backed transactions that are safer than traditional banks.
Introduction
When it comes to sending money home, Nigerians abroad don’t joke with reliability and speed. Over 17 million Nigerians are living outside the country, and according to Statista, Nigeria is among the top 10 remittance-receiving nations in the world. This means digital money transfer apps like Revolut and PayPal are a lifeline. But the big question is: which app works better for Nigerians trying to support their loved ones back home? Let’s break it down.
Understanding Revolut and PayPal
What is Revolut?
Revolut is a UK-based fintech app that started in 2015. It’s popular for multi-currency accounts, low-cost international transfers, and virtual or physical cards. Nigerians abroad love it because you can hold money in USD, GBP, or EUR and swap currencies instantly.
What is PayPal?
PayPal, on the other hand, has been around since 1998. It’s one of the oldest and most recognized digital payment systems. It’s widely used for online shopping, business transactions, and sending money globally. But when it comes to Nigeria, PayPal has always had some restrictions that frustrate users.
Availability for Nigerians Abroad
Can Nigerians Use Revolut Abroad?
Revolut works in over 30 countries including the UK, EU, US, and some parts of Asia. Nigerians living in these countries can use it freely. However, Revolut isn’t available in Nigeria yet, which makes direct transfers to Nigerian bank accounts tricky.
Is PayPal Accessible for Nigerians Abroad?
Yes, Nigerians abroad can use PayPal without stress. However, those back home have limited accounts that only allow them to send money but not receive. So, if you’re sending money to Nigeria, you’ll need a workaround.
Ease of Sending Money to Nigeria
Revolut to Nigeria Transfers
Revolut doesn’t support direct transfers to Nigerian bank accounts. Some Nigerians abroad use USD or GBP cards linked to Nigerian banks as a workaround, but it’s not seamless.
PayPal to Nigeria Transfers
PayPal doesn’t support direct transfers to Nigerian banks either. Instead, people use PayPal-to-PayPal transfers, then connect it to a dollar card or sell the PayPal balance on P2P platforms.
This is where alternatives like CoinCola Express stand out. On CoinCola, you can send Bitcoin or USDT directly to Nigeria, and your family cashes out in naira instantly.
Exchange Rates and Fees
Revolut Fees for Nigerians Abroad
Revolut is known for its low fees and competitive exchange rates. However, if you’re sending money indirectly to Nigeria, you might still face extra card charges.
PayPal Fees for Nigerians Abroad
PayPal charges higher fees, especially for international transfers. Worse still, their exchange rate markup eats deep into your money. That’s why many Nigerians prefer P2P trading on CoinCola, where you get market-driven rates.
User Experience and Convenience
Revolut User Experience
Revolut’s app is sleek, fast, and easy to use. But the lack of direct support for Africa, especially Nigeria, limits its usefulness.
PayPal User Experience
PayPal’s app and website are user-friendly, but Nigerians often complain about frozen accounts and poor customer support. For remittances, it’s not the best option.
Security and Trustworthiness
Both apps are safe, but PayPal is notorious for sudden account restrictions. Revolut uses advanced encryption and security checks. For Nigerians abroad, CoinCola’s escrow services provide even better peace of mind, ensuring that neither buyer nor seller gets cheated during P2P transactions.
Pros and Cons for Nigerians
Revolut Pros and Cons
Pros: Low fees, multi-currency support, good for people in the UK/EU.
Cons: Not available in Nigeria, no direct transfers.
PayPal Pros and Cons
Pros: Global acceptance, great for online shopping.
Cons: High fees, restrictions for Nigerians, frozen accounts.
Best Use Cases for Nigerians Abroad
● Use Revolut if you live in Europe/UK and want low-cost spending abroad.
● Use PayPal mainly for online shopping or business payments.
● For remittances, Nigerians abroad find more value in CoinCola P2P trading, where you can buy and send Bitcoin, then your people in Nigeria convert it to naira instantly.
Alternative Options for Nigerians Abroad
Wise, WorldRemit, and CoinCola Express are popular choices. But with crypto P2P trading, you get the cheapest and fastest option. Nigerians increasingly use CoinCola for spot trading, how to get bitcoins in Nigeria, and escrow-backed transactions that are safer than traditional banks.
Conclusion
Revolut and PayPal are decent, but neither fully solves the challenges of sending money to Nigeria. PayPal is too expensive, and Revolut is not yet accessible back home. For Nigerians abroad who want speed, security, and better exchange rates, CoinCola is the smarter choice. Whether you’re learning how to get bitcoins in Nigeria or exploring P2P trading, CoinCola gives you the flexibility both Revolut and PayPal lack.
FAQs
1. Can I use Revolut to send money directly to Nigeria?
No, Revolut doesn’t support direct transfers to Nigerian banks.
2. Does PayPal work in Nigeria for receiving money from abroad?
Not directly. Nigerians in Nigeria can only send, not receive.
3. Which is cheaper for Nigerians abroad: Revolut or PayPal?
Revolut is cheaper, but neither beats CoinCola’s P2P rates.
4. Are there restrictions for Nigerians opening Revolut accounts?
Yes, Revolut is not available to residents in Nigeria.
5. What is the best alternative to Revolut and PayPal for Nigerians abroad?
CoinCola – it’s cheaper, faster, and uses escrow to protect transactions.