Which Bitcoin wallet is best in Nigeria? You asked.
In this guide, I will show you the top 10 best cryptocurrency wallets to store and trade your Bitcoin in Nigeria.
The most beautiful thing about this crypto wallets is that you can also use them store other cryptocurrencies apart from Bitcoins.
Gone are those days when there were misconceptions that Nigerians use outdated phones and does not have access to the internet. Now, the number of smartphone users in the country is at it’s peak. To the extent that a lot of people are using their smartphones to do cryptocurrency businesses.
Also Read: El Salvador adopts Bitcoin as a legal tender
What Is A Bitcoin Wallet?
Bitcoin wallets are programs, applications, or device that is used to store and manage cryptocurrencies.
Bitcoin is the fastest growing Cryptocurrency in the world. The wallet stores the private and public keys which are the tools that are used to manage your crypto transactions.
A bitcoin wallet creates the interaction between a user and his cryptos. A bitcoin wallet can store other Cryptocurrencies also like ethereum, dogecoin, litecoin, etc.
Here’s A List Of The Best Bitcoin Wallets In Nigeria Presently
Below is a list of the best bitcoin wallet to either store or trade your bitcoin:
Coinbase is a United States-based cryptocurrency platform that first launched in 2012.
It has since built a solid reputation for providing a safe and user-friendly way to buy and trade multiple cryptocurrencies.
Its mobile wallet app is one of the most popular in Nigeria.
Since its launch, over 43 million customers globally have used Coinbase’s crypto wallet services to store their holdings.
Binance is a cryptocurrency exchange that first launched in China in 2017.
Due to increasingly stringent anti-cryptocurrency regulations in China, Binance is now a completely decentralized company.
Binance is regarded as one of the best platforms out there to buy, sell and trade cryptocurrencies.
The exchange also offers a mobile app version for smartphone users.
Kraken is a United States-based crypto exchange that first launched in 2011.
Since its inception, it has grown to become one of the largest platforms out there.
Kraken offers a mobile app that Nigerians can easily download and use to buy, sell, store and trade cryptocurrencies.
Kraken charges some of the lowest transaction fees among exchanges and offers very competitive rates for withdrawals, whilst supporting zero-fee deposits.
Luno is a cryptocurrency exchange/wallet provider. It was launched in 2013 as BitX.
The company is headquartered in Singapore and has spread to several parts of the world.
Luno records its highest trade volume in South Africa, followed closely by Nigeria.
Quidax is a cryptocurrency exchange/wallet provider that was launched in August 2018.
Headquartered in Malta but the platform has most of its operations here in Nigeria.
It offers the basic services needed for any crypto investor to interact in the crypto market.
Coinomi was founded in 2014 and is one of the oldest and reputed wallets with over a hundred thousand users worldwide.
It was originally a mobile wallet that was only available on androids. It recently developed to desktop and iOS versions.
The wallet is multi-lingual and provides support for over 125 cryptocurrencies and 382 ERC20 tokens.
Bitpay is a crypto payment processing platform that is based in Atlanta, Georgia.
It was established in 2011 but had only launched its wallets service back in 2016.
This wallet allows you to convert bitcoins to fiat and buy items with bitcoin.
Bitpay provides visa card to its users which can be used to withdraw cash from any ATM that accepts cryptos around the globe.
Bitpay is available in over 200 countries including Nigeria.
Roqqu is a Nigerian Cryptocurrency exchange/wallet provider. It was launched in 2018. The headquarter is at Lagos, Nigeria.
You can buy/sell over 30 Cryptocurrencies on roqqu and it has an easy peer to peer withdrawal option. You can also make a withdrawal of N50,000 and above directly to your bank account.
Roqqu supports zero fee deposits and has minimal charge over each transaction performed. Withdrawal on roqqu is free.
9. Cold Storage Hardware Wallets
Hardware wallets are indisputably the best form of storage for any crypto investor especially if you’d be storing large amounts.
The wallet’s offline mode makes them very secure from remote attacks. An example of this hardware wallet is ‘Trezor One’.
Ensure this hardware is safely kept after storage, because when you misplace your hardware, your crypto is gone.
Before making a choice on the best Cryptocurrency wallet to store or trade your bitcoin, check out the transaction fee.
The transaction fee on each wallet differs, but you need not worry, the Bitcoin wallets listed above are tested and trusted. Your cryptocoins are very safe with them.
I hope you find this information useful, if yes, please feel free to share.