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Uber vs Bolt: Which Is The Best Ride-Sharing Investment 2022?

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Uber vs Bolt: Which Is The Best Ride-Sharing Investment 2022?

Uber vs Bolt
Uber vs Bolt

This article is a complete guide on Bolt vs Uber Nigeria E-hailing app in Nigeria, and we will outline which one is better for drivers and riders.

Bolt, as well as Uber, are two ride-hailing applications that have brought revolutionary innovation to how we commute in Nigeria. 

Today, you don’t have to leave and wait in lines or compete for seats on public transport. 

From the comfort of your home, and using your mobile phone you can make a reservation for an appointment and in a matter of minutes, you’ll be transported towards your location in a comfortable and cool vehicle.

There are many other ride-hailing applications, Bolt(formerly called Taxify) and Uber are the most popular among Nigerians. 

Therefore, the question people are asking is: Between Bolt and Uber which is the better choice? Let’s compare!

ABOUT UBER

Uber is a transport company that owns an app that permits users to hail a ride and drivers to charge for fares and be the money.

Furthermore, Uber is a ridesharing company that uses contractors who are independent as drivers. It’s just one of the services that today contribute to the development of the economy. It provides the possibility of connecting existing resources, instead of supplying the physical resources.

Uber was established in 2009 by Travis Kalanick and Garrett Camp in the year 2009, and its headquarters are located within San Francisco. Uber has an estimated amount of more than 110 million customers worldwide.

Uber connects passengers who require rides to drivers through Uber’s Uber app. Uber also offers rides at a price that is a middle for both drivers and passengers.

Uber currently appears as having control of more than 69% of the United States’ consumer transport share and 25 percent of food delivery via the Uber Eats app. 

Uber is accessible in more than 700 cities in 64 countries, which includes Lagos in Nigeria and Abuja. Uber registers a minimum of 50,000 drivers per month. It is estimated that there are 4 million Uber drivers registered. Uber drivers around the world.

How do you become an Uber driver?

Uber-vs-Bolt
Uber-vs-Bolt

Driver requirements details

Essential needs

There are definitely a few fundamental requirements you must meet before you are able to sign up to drive for Uber:

  1. You must be at least 18 years old for driving in your city
  2. At the very least one year of valid driving expertise (3 years if less than 23,)
  3. You must have a valid driver’s license

Choose a vehicle that is eligible for a 4-door.

  1. Documents that are required
  2. An active driver’s license
  3. Insurance proof for your vehicle is required in the event that you are planning to drive your vehicle
  4. Evidence of residency in your city or state
  5. Car insurance certificate and proof of car registration
  6. A driver profile photo
  7. It must be a forward-facing center-focused photo that includes the driver’s face in full and shoulders up to the top, without sunglasses.
  8. The photo must be of the driver and no other subjects in the frame, well lit, and clear The photo is not a driver’s license photo or any other photograph printed
  9. Taxpayer identification number

Car requirements

  1. The model year 2000 or later
  2. 4-door car
  3. Excellent condition, with no cosmetic damage.
  4. A working radio
  5. Your documents
  6. Inspection report for the vehicle
  7. Insurance for vehicles
  8. Certificate of roadworthiness
  9. A valid Hackney permit

Join on the internet

If you have an email account and smartphone, you’re all set to start.

Screening of drivers

Once you have signed up after signing up, you can take an online screening. Check your driving record as well as your criminal record.

You must activate your account

If you’ve done all the steps above If you’ve done all of above, you’re good to start.

You’re now ready to sign up for your account and begin the journey to earn money.

ABOUT BOLT

Bolt is an Estonian mobility service provider that offers cars for rent, micro-mobility, car-sharing, and food delivery service located in Tallinn and with operations in more than 300 cities across 45 countries across Europe, Africa, Western Asia, and Latin America.

The company has more than 75 million users worldwide with greater than 1.5 million drivers utilizing Bolt. Bolt platform to provide rides.

 However, Bolt which was earlier was known as Taxify came into Nigeria at the end of November in 2016. It was introduced to Nigeria just two years following Uber but quickly devised the strategy of focusing on accessibility and affordability which are both essential to capture this Nigerian market.

Therefore, the amount of Nigerian drivers who downloaded the Bolt Bolt application is not identified from the Playstore information, however, there is an estimate of around 220,000 registered Bolt drivers in Nigeria.

How do you turn into a Bolt driver?

For Beginners, each Bolt driver who drives in Nigeria must meet the minimum age and hold several valid documents.

The driver’s requirements are:

  1. Possess a valid driver’s license
  2. Participate in driver training to ensure the quality of service and to use the Bolt driver software
  3. A smartphone equipped with GPS
  4. A clear criminal record

The requirements for vehicles:

  1. Vehicles manufactured from 2003 or later, four doors with AC that are fully functional.
  2. License for vehicles
  3. Certificate of insurance
  4. Documentation of ownership
  5. Certificate of Roadworthiness.

If you are eligible the only thing you have to do to sign up is to do so using the app or the web platform. After you have registered your information (which you can complete in under five minutes) You will then receive an email with all the details about the upcoming training sessions as well as information on how to get your documents examined.

After registration is complete your vehicle needs to be tested and certified by one of Bolt’s approved inspection centers.

The next step is to complete the mandatory training. The training can be conducted in the comfort of your own home. However, you’ll be required to attend the course at a distance and pass two tests.

The course typically takes 3-4 hours to have your account up and running, meaning you’ll be able to go out within a matter of minutes!

Install Bolt Driver. Download the Bolt Driver app and then pick up one of your passengers:

In the beginning, you’ll need to install the Bolt Driver app on your smartphone ( AndroidiOS).

To get started making use of the program, sign in to the app using your username and password. You will receive login details straight to your email address after your driver’s application has been accepted.

What is the minimum amount of capital needed to begin Bolt driving?

The money needed to begin Bolt driving is enough to buy a car that is in compliance with the standards of the business, which is when you decide to begin by driving your own vehicle.

If you’re financially capable of purchasing your vehicle, you can work with someone who has an automobile already and discuss the percentage you’re going to offer them as a reward, perhaps on a monthly or weekly basis.

It can also be a bad option for those who want to leave the area of being a car owner.

Benefits of Bolt/Uber to Riders (Customers).

1. The Bolt application is very easy to use, riders can request rides, track the car ride on a map, pay using their card or in cash and at the end of the ride rate the driver and give feedback on the experience.

2. Using Bolt is way cheaper than Uber.

3. The sum of the payment is calculated before the ride on Bolt, so you know what you are paying even before embarking on the ride, unlike Uber that is after the ride before you get to know what you are paying.

4. Gives cheaper opportunities for commuting without using public vehicles or a transport system.

5. Bolt is rapidly developing and diversifying, we now have Bolt food, Bolt scooter, e.t.c.

6. Bolt operates in more cities in Nigeria than Uber at the moment. as Uber only operates in Lagos, Abuja, and Gulu, therefore it is easy for customers to make use of Bolt in more places than Uber.

7. Uber charges a cancellation fee when a rider cancels a trip. Bolt only charges a cancellation fee after the rider cancels the ride a few minutes after the driver has accepted the ride.

Comparison Between Bolt And Uber In Nigeria: Benefits, Differences & The Best For Drivers And Customers

Bolt and Taxify both make their earnings through connecting drivers to customers at a metered price. Both platforms charge between 20 and 30 percent of the charges that are paid by riders or clients to drivers. Uber pays drivers on a weekly basis during the week, and with business beginning on Monday at 4:45 am Tuesdays are reporting days, which show your activities during the week, and Thursdays are paydays.

Bolt vs Uber Nigeria: Benefits to Drivers.

The benefits of Bolt/Uber platforms for drivers include:

1. Both platforms offer opportunities for drivers, or anyone with a drivers license who want to earn an additional income to supplement their income per month or who simply need a new source of income in addition to their own because in Nigeria today, having just an income source is equivalent being financial suicide.

2. Drivers who use Uber get to keep 70%-75 percent of the cash earned for each journey, while the Uber platforms pay 30 percent to 20 percent. In the case of Bolt Bolt keeps between 15 percent to 20% and their drivers receive 75%-80 percent.

3. Uber offers some tasty incentives to attract drivers. You get an amount of $40,000 in tips per 20 trips for every driver and companion you choose to invite. Isn’t that amazing?

4. Uber isn’t particularly strict about choosing an insurance provider. You just require an insurance policy to protect you in the event of an accident.

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FINANCE

Comparison Between Bolt And Uber In Nigeria: Benefits, Differences & The Best For Drivers And Customers

by FERDTECH May 12, 2021

Comparison of Bolt as well as Uber in Nigeria What is the difference? advantageous to both drivers as well as customers?

Bolt or Taxify as it was previously called and Uber has now become the two most well-known and largest ride-hailing companies in Nigeria in the present.

Platforms such as bolt and Taxify allow users to connect with drivers more easily and with less stress by creating applications that facilitate seamless communications at the convenience of your home.

Bolt and Taxify both make their money by connecting drivers with riders at a fixed price. They each charge between 20 and 30 percent of the fee that is paid by riders or clients to drivers. Uber pays their drivers every week during the week, and with business starting on Mondays at 4:45 am Tuesdays are reporting days that show your work throughout the week. Thursdays are paydays.

Bolt vs Uber Nigeria: Benefits to Drivers.

The benefits of Bolt/Uber platforms include:

1. Both platforms offer opportunities for drivers and those with a driver’s licenses that want to earn extra money to add to their income per month or who simply need a new source of income in addition to their existing income because in Nigeria today, having just an income source is equivalent the equivalent of financial suicide.

2. Drivers who use Uber get to keep 70%-75 percent of the cash earned for each journey, while the Uber Platform charges 30 percent to 20 percent. For Bolt, it keeps the 15 percent to 20% and their drivers get 75%-80 to 80%.

3. Uber offers some tasty incentives to attract drivers. You get an amount of $40,000 in tips after 20 journeys for every driver or partner you choose to invite. Isn’t that incredible?

4. Uber isn’t specific about the insurance company, you simply require an insurance policy that will cover you in the event of an accident.

5. Flexible schedule allows you the option of working as many or as you’d like in accordance with your timeframe and at any time of the day all, and both on Bolt and Uber. as well as Bolt.

6. Another aspect to consider is your safety. Most people are so focused on their customers’ or passengers’ security that they neglect the safety of the driver. But in this particular case, Uber tries to screen riders through a feedback system that lets drivers and passengers give each other ratings during or following the journey.

There are online cases in which riders have a negative impact on drivers and vice versa thus the risk itself is not completely eliminated, in this scenario every driver and rider must be aware of the dangers and remain safe always.

8. Each of Uber Bolt and Uber Bolt has safety measures in place. However, when compared, Uber has more measures of safety than Bolt. Uber allows you to check your trip with pins to ensure that you’re in the vehicle with the correct person. They also offer an extensive screening of the driver speed limit warnings. They also provide a ride check feature in case drivers stop at a specific location for too long due to using sensors, and they provide assistance to customers when they encounter such situations.

For Bolt, they confirm the identity of their driver through their verification portal which has collaborated with YouVerify. They verify this by comparing drivers ‘ documents with databases of the government. When you ride on the Bolt you will receive the driver’s photograph and name, along with the car’s make/model and license number which you can provide to your family members to give them an idea of who’s driving you.

9. If you have the loss of an item, Bolt allows you to reimburse the drivers if they agree to pay to do so when it is replaced. However, Uber will charge you for the return of lost items.

A few precautions to pay attention to while using Uber or bolt are

  • Take your car with the windows closed Avoid Ac as much as you can in this regard.
  • Snap a photo of the number plate of your car and then send it to your family members.
  • Sit directly behind your driver.
  • Always make use of the Google maps on your smartphone to ensure you’re not being confused by the motorist.
  • Inform your family members about the destination of your trip and your current place of residence.
  • How do I become a driver on Uber as well as the bolt platform?

Conclusion

If you’re a driver and want to earn an extra income or just want a new source of income through these two platforms, you can select the one that works best for you. As the rider, you can choose the one that best suits your needs after reading this comparison.

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