Today, I’ll take you through the best bitcoin wallet in Nigeria in 2022. This is all you need if you want to know the bitcoin wallet best for you here in Nigeria and most profitable. Get yourself somewhere to sit and enjoy this useful information.
A bitcoin wallet is identical to the typical physical wallet you use to store your cash and credit cards. In essence, it serves as a wallet for storing cryptocurrencies or digital currency.
I am aware that you came to this page in search of the greatest bitcoin wallet, but what you really require is a superior cryptocurrency exchange.
It’s not easy to pick the optimum bitcoin wallet in Nigeria. This is because there are so many various types of wallets available, each with unique features.
So let’s move on to the top exchanges you can utilize in place of a pricey cryptocurrency wallet.
What You Should Know know about bitcoin wallet in Nigeria in 2022
A hardware or software device that saves your cryptocurrency assets is known as a cryptocurrency (or Bitcoin) wallet. Cryptographic wallets can be compared to online checking accounts.
When you conduct transactions, they both store your cryptocurrency and send and receive them.
Public keys and private keys are the two types of keys that are stored in cryptocurrency wallets. For accepting crypto, you need public keys.
You can provide someone your public key so they can complete the transaction if you want to get Bitcoin or another digital currency from them.
A private key is used to spend cryptocurrency. You’ll need access to your private keys if you wish to spend or send cryptographic assets to an exchange.
Never divulge your private keys to anyone as doing so will give them access to your money. Consider your private keys to be the online banking password.
Your entire investment might gone in an instant if they get into the wrong hands.
See how you can make money with cryptocurrency and bitcoin in Nigeria.
Types of Crypto Wallets
Talking about the best bitcoin wallets in Nigeria in 2022, you have to know the types of crypto wallets we have first of all.
Paper, software, and hardware wallets are the three basic types of cryptocurrency wallets:
- Paper Wallets — the most fundamental kind of Bitcoin wallet is a paper one. Your private keys are written on a piece of paper, nothing more.
Of course, there is a drawback to paper wallets: if you lose them, your digital possessions would be lost forever.
You should therefore always, always retain numerous copies of a paper wallet in locations you are certain are secure. For instance, you might put them in a number of inconvenient places all over your home.
- Software Wallets — Generally speaking, software wallets may be installed on any computer or smartphone with an internet connection.
They are quite practical, but because they operate online, they could be hacked. This is why they’re also known as “hot wallets.”
- Hardware Wallets — Large-scale cryptocurrency storage using hardware wallets is typically the most secure option.
This is due to the fact that without physical access to the device, they cannot be utilized at all or hacked. Hardware wallets have been increasingly popular among crypto exchanges in recent years due to their emphasis on security.
Are Crypto Wallets and Bitcoin Safe?
The reliability of crypto wallets will be influenced solely by the sort of wallet and how you’re utilizing it. A hardware wallet is the safest place to save your funds (also known as cold storage).
Hardware wallets are very secure since they keep your private keys offline.
This is because no one can access them until they’re right in front of the wallet, and even then, it’s a challenging thing to
Software wallets, which are online and vulnerable to hacking, trade convenience for security.
While paper wallets also provide a reasonable level of security, there is always a potential that you will misplace your private keys, and if you do, there is no way to recover them.
Best Bitcoin Wallet in Nigeria in 2022
The top cryptocurrency wallets in Nigeria have been tried and evaluated by us, and we have only included these on our list of the best service providers.
Below are reviews of each cryptocurrency wallet provider:
Those who haven’t made any cryptocurrency investments yet can think twice before using a conventional crypto exchange and wallet.
This is possible because Capital.com gives customers access to cryptocurrencies without requiring them to store or own any tokens. This is due to Capital.com’s focus on CFDs.
Simply said, CFDs reflect the real-time price of a coin. According to whether they believe the price of their selected cryptocurrency will climb or fall, users have the option of getting long or short on the CFD.
So without having to worry about a wallet, Capital.com users can try to profit from the cryptocurrency markets.
The fact that Capital.com charges no commission makes it advantageous to use it to access the Nigerian cryptocurrency markets.
This is true for all of its supported markets, which include thousands of equities, ETFs, currencies, and commodities in addition to 470+ crypto pairs.
Leverage is available when trading on Capital.com. As a result, individuals are able to buy or sell using more money than is really in their account.
The proliferation of trading tools, like as charts and technical indicators, is another factor. Through user-friendly lessons and guidance, Capital.com users may also understand how the trading markets operate.
One of the greatest Bitcoin wallets in Nigeria is provided by Coinbase, which is mostly recognized for its user-friendly cryptocurrency exchange. The bitcoin wallet gives a multitude of options when it comes to storing.
First off, a lot of investors who use Coinbase will continue to use its web wallet. Simply logging into Coinbase will give you access to this custodial wallet.
As a result, installing or configuring any software is not necessary.
Two-factor authentication and IP/device whitelisting are used to protect the Coinbase web wallet.
Additionally, 98 percent of client money are always stored offline, which is a significant security measure.
The Coinbase mobile app for iOS and Android let users to access their tokens if they prefer the custodial wallet option.
Due to the app’s inclusion of a QR scanning function, sending and receiving tokens is made simpler.
A non-custodial wallet that gives consumers more control over their cryptocurrency investments is also available from Coinbase.
Several other items are included with Coinbase’s non-custodial wallet. This includes support for hundreds of decentralized applications and access to NFTs.
The best cryptocurrency wallet in Nigeria for people who want to actively trade digital assets is probably Binance.
You can log into your account on the main website, through an iOS or Android app, or by using the Binance wallet.
In either case, the Binance wallet is packaged with a trading platform that supports 600 coins and more than 1,000 markets.
With Binance, traders will pay a charge of 0.10 percent when buying and selling tokens. This implies that an order will only be charged a fee of $0.20 for every $200 transacted.
When a cryptocurrency token is bought, it is immediately placed into the Binance wallet for convenient access.
The user’s email address, password, and two-factor authentication all serve as security measures for the Binance wallet.
Additional security measures are put in place when the user enters into the wallet from a new device.
Binance also says that the majority of its customers’ digital tokens are kept in a cold cryptocurrency wallet.
Additionally, Binance provides access to yield farming, staking, and interest accounts. Some of these DeFi products have APYs that are greater than 100%.
Additionally, there is a Binance NFT marketplace where users can trade non-fungible tokens for a profit.
Binance is the company behind the Trust Wallet software, which is a decentralized wallet with non-custodial access.
Best Bitcoin Wallet in Nigeria in 2022
A well-known exchange that supports African traders is called Quidax. The system provides users a very attractive commission of just 0.3 percent when buying and selling bitcoins.
The Quidax may be viewed online or through the iOS/Android app, and it also functions as a custodial wallet.
The fact that Quidax maintains exclusive control over the wallet’s private keys may be advantageous for newcomers.
The fact that tokens held in the Quidax wallet will be placed into the “Vault” is a significant advantage of choosing this provider.
Through an automatic staking tool, this enables users to earn interest on their tokens.
Utilizing Quidax has the added advantage of supporting debit and credit cards. As a result, users in Nigeria can instantaneously purchase digital currency without ever leaving the wallet UI.
The native digital token QDX is also available on Quidax. This virtual currency trades on open markets and uses the Binance Smart Chain as its foundation.
The fact that Quidax only allows 20+ tokens is one of the primary disadvantages of this supplier. Diversification will therefore be more difficult.
ZenGO – Best Bitcoin Wallet in Nigeria in 2022
One of the ideal bitcoin wallets in Nigeria for people looking for a straightforward and uncomplicated interface is ZenGO.
On both iOS and Android smartphones, this wallet is available as a free mobile app.
The wallet can be set up in a matter of seconds, and users can utilize biometrics to secure their accounts. Despite being a non-custodial wallet, ZenGo makes it simple to get back into an account.
For instance, the user can retrieve their wallet via a straightforward facial scan if the phone is lost or the software is unintentionally removed.
Scorpiones and Kudelski are only two of the organizations that have audited ZenGo.
ZenGO provides a number of additional items in addition to storage.
Users can instantly switch between different digital tokens, even across different chains, with the touch of a button.
Additionally, ZenGo has integrated Nexo into its app, enabling users to earn interest on their dormant tokens.
Users of the cryptocurrency trading site Luno can buy, sell, and trade cryptocurrencies directly from their wallets.
With a UI that shows the ups and downs of the cryptocurrency coin, it enables users to keep bitcoin, XRP, Litecoin, Ethereum, and USDT on their wallets.
With Luno, you can deposit your cryptocurrencies and earn a monthly interest rate of 7.60% without having to pay any withdrawal or deposit fees.
Only Bitcoin, USDT, and Ethereum are eligible for the Luno discounts.
Unlike other cryptocurrency platforms, Luno creates a strong and effective ecosystem that enables its users to transfer and receive funds more quickly.
The fact that Luno informs its consumers about cryptocurrencies is one of its many advantages.
You can download the Luno mobile app from the play store or the app store to use their WhatsApp.
Best Bitcoin Wallet in Nigeria in 2022
The blockchain wallet named Coinomi was established in 2014. Thousands of people appreciate it because it is one of the first multi-chain wallets.
Numerous coins are supported by the platform. With its quick built-in exchange, it enables its user to safely store, manage, and exchange Bitcoin, Ethereum, and other blockchain assets.
No one has ever been able to breach Coinomi’s excellent security.
Additionally, it never charges fees for transactions and has an active customer service record. You may download their app for iOS, Android, and Windows to get started.
The most dependable and safe cryptocurrency wallet is Trust wallet, which lets users buy, store, accumulate NFTs, trade, and earn cryptocurrency.
More than 25 million people use this trading site, which also contains a number of cryptocurrencies. When using trust wallets, no one else can access your wallet, and no personal information is gathered when you sign up.
Decentralized apps can also be used without taking money out of your wallet.
Remitano is a blockchain platform that offers a secured peer-to-peer marketplace where users may purchase and trade tokens.
It completes transactions quickly, and its customer care responds quickly to any issues that could arise.
It provides services including P2P Exchange, Remitano Swap, Remitano Invest, Wallets, and Affiliate Program.
You can get money through its affiliate program every time you send them a new user. It provides an accessible user interface and affordable transaction fees.
One of the first bitcoin exchanges is Kraken wallet, which is also one of the top sites for buying and selling cryptocurrencies online.
On Kraken, which has over fifty cryptocurrencies in its exchange and charges cheap costs, you can start trading with just $10.
Users can also withdraw fiat currency. Therefore, if you’re new to the cryptocurrency industry and wondering where to start, you can join Kraken.
You only need to download their smartphone app.
Given the variety of wallets available and the various features they each offer, selecting the best bitcoin wallet in Nigeria is far from simple.
Cryptocurrency wallets are actually more expensive and less safe than simply storing your cryptocurrency on a reliable exchange.
All of the exchangers I’ve suggested here feature bank-level security, negligible or no fees, and top-notch customer service in the event of a problem.
Having said that, these handful remain the constant favorites of savvy Nigerian cryptocurrency investors.
I can’t express enough how much I encourage using these platforms for all of your future interactions.