Nigerians are one of the biggest users of cryptocurrency worldwide as the adoption of bitcoin and other altcoins continue to rise.
If you’re looking to join the bitcoin train in Nigeria, then it’s important you understand the need for bitcoin wallets in Nigeria or any crypto(insert coin here) wallet for that matter.
If you’re going to keep your precious bitcoins safe, then you need to use bitcoin wallets in Nigeria that are secure and would let you manage your crypto transactions well.
That’s why we have created this resource of the best bitcoin wallets in Nigeria, so you can easily go through your options and choose the one most suitable for you.
But before we get into the list of bitcoin wallets in Nigeria that you can use. Let’s talk a bit about what a bitcoin or cryptocurrency wallet is.
- 1 Bitcoin Wallet: Hot, Cold, Custodial & Exchange wallets
- 2 Why do I Need A Cryptocurrency Wallet?
- 3 List of Best Bitcoin Wallets in Nigeria
- 4 1. Coinbase Wallet
- 5 2. Luno Wallet
- 6 3. Quidax Wallet
- 7 4. Coinomi
- 8 5. Bitpay Wallet
Bitcoin Wallet: Hot, Cold, Custodial & Exchange wallets
A bitcoin wallet is no different from the normal physical wallet you use to hold your cash and cards. A bitcoin wallet is essentially a cryptocurrency wallet for storing digital money (cryptocurrencies).
A cryptocurrency wallet is an application or device used to store and manage cryptocurrencies. This wallet has a private and public key which are tools that are used to manage your crypto transactions.
A bitcoin wallet is what you’ll use to interact with your cryptocurrencies.
The Crypto wallets in use now are either hot wallets (online) or cold wallets (offline).
Hot wallets are the ones you use on the web and on mobile apps. They are the less secure crypto wallets since they are online and need an internet connection to use them, this internet connection can leave them open to remote attacks.
Although hot wallets are less expensive and more flexible than cold wallets, Cold wallets or hardware wallets are more secure as they are offline and can’t be attacked remotely.
However, they’re vulnerable to physical attacks. The types of cold wallets are paper wallets, hardware wallets, and brain wallets.
Why do I Need A Cryptocurrency Wallet?
Plain simple Security!.
While a lot of people use crypto exchanges for storing their crypto, it can be risky to this as it exposes your digital assets to hacks as these exchanges operate online. If the exchange gets hacked, you might never see your cryptocurrencies again.
While crypto exchanges are great for trading these currencies, they are not exactly the safest place for holding your cryptos.
To keep your currencies more secure, it’s better to hold your crypto assets in a wallet, instead of putting them at risk with crypto exchanges.
List of Best Bitcoin Wallets in Nigeria
- Coinbase Wallet
- Luno Wallet
- Trust Wallet
- Buycoins Wallet
- Quidax Wallet
- Remitano Wallet
- Paxful Wallet
- Busha Wallet
- Patricia Wallet
1. Coinbase Wallet
Coinbase launched in 2012 and is now one of the most popular crypto platforms in the world for providing a safe and user-friendly way to buy and trade multiple cryptocurrencies. This is evident with its over 43 million customers around the globe.
Coinbase wallet is one of the top bitcoin wallets in Nigeria Nigeria as it supports many different crypto assets, access to decentralized apps (DApps), uses bank-level security, and offers Cloud integration (Google Drive and iCloud).
But it’s important to note that Nigerians can only use Coinbase’s wallet services to transfer their coins between Coinbase and other wallets, Trading on the Coinbase exchange itself is not available for Nigerians.
Coinbase is very easy to use especially for beginners its ease of use. However, if you’re an advanced crypto person, you can use the Coinbase Pro to access advanced tools like the ability to monitor fluctuations on the market in real-time.
Note: Аlthough you can download the Coinbase Wallet and send cryptos to other wallets and from other wallets to your Coinbase wallet. You can not trade on Coinbase as an exchange, as Nigeria is not one of Nigeria’s supported countries for this feature as of May 2021.
2. Luno Wallet
First Launched in 2013 as BitX. Luno is both a cryptocurrency exchange and a wallet provider.
Luno is still one of the best bitcoin wallets in Nigeria to use despite the CBN circular that stops its Nigerian users from depositing and withdrawing from the Luno app.
But you can still trade cryptocurrencies on Luno. You can’t just deposit from a Nigerian bank account to your Luno wallet and you can deposit from your Luno wallet to your Nigerian bank account.
However, you can send cryptocurrencies from other wallets to your Luno wallet and use it to trade.
Luno supports 5 cryptocurrencies that you can trade:
- Bitcoin – BTC
- Ethereum – ETH
- Bitcoin Cash – BCH
- Ripple XRP
- Litecoin LTC
3. Quidax Wallet
Quidax is another one of the best bitcoin wallets in Nigeria. it is both a trusted cryptocurrency exchange and a wallet provider that has users from over 70 countries.
The Quidax Wallet allows you to trade and exchange cryptocurrencies on the platform.
Quidax which is headquartered in Malta has never been hacked or scammed. You can access your Quidax wallet via the web and through the Quidax app. However, its web wallet does not give you access to your private key.
Quidax which recently launched a P2P service currently supports 6 Currencies; Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Dash (DASH), Tether (USDT)
Coinomi offers a reliable web and mobile wallet (iOS and Android).
Coinomi started in 2014 and is considered one of the reputable wallets in the world with over a hundred thousand users.
If you’re looking for an efficient wallet to use, Coinomi is one of the best bitcoin wallets in Nigeria to consider.
The Coinomi wallet is multi-lingual and provides support for over 125 cryptocurrencies and 382 ERC20 tokens.
5. Bitpay Wallet
BitPay is one of the best bitcoin wallets in Nigeria to use. This online cryptocurrency wallet gives owners access to store, send or receive Bitcoin (BTC) and Bitcoin Cash (BCH).
With Bitpay you can convert bitcoins to fiat and buy items with bitcoin. Bitpay also provides visa cards to its users which can be used to withdraw cash from any ATM that accepts cryptos around the globe.
All your transactions on Bitpay go through an account that can be managed on multiple devices.
The Bitpay wallet also has a clear user interface for easy navigation for users.
The BitPay wallet supports over 200 countries (including Nigeria) and displays prices in about 150 currencies.
The Bitpay Chrome version can also integrate with hardware wallets. if you need to pay for products or services online using a bitcoin wallet in Nigeria, then you should open a Bitpay wallet.
6. Trust Wallet
Trust wallet is one of the most trusted & secure crypto wallets in the world. Just ask the 10 million+ people using Trust Wallet.
With this open-source wallet you can buy, store, collect NFTs, exchange & earn crypto. You can exchange your crypto without leaving the Trust wallet app, track charts and crypto prices within the app.
Binance acquired Trust Wallet in 2018 as its official wallet.
With Trust wallet, you can buy Bitcoin in less than five minutes, earn interest on the crypto in your wallet and store your collectibles (Art & NFTs) in one place.
Trust Wallet supports over 150 cryptocurrencies including ERC 20 tokens. Its server-free infrastructure means no one has access to your assets except you.
It has some added in-app security like Pin and biometric scanning
Trust wallet has a simple and easy to use interface as well as cross-platform support.
7. Kraken Wallet
Kraken launched in 2011 and has since grown to become one of the biggest crypto platforms out there.
Kraken offers one of the most trusted bitcoin wallets in Nigeria for buying, selling, storing and trading cryptocurrencies.
Kraken was the first cryptocurrency exchange to pass a Proof of Reservation crypto audit. This crypto platform offers some of the lowest transaction fees among cryptocurrency exchanges.
It also offers very competitive rates for withdrawals on its wallet, while offering zero-fee deposits.
Nigerians can trade more than 20 different cryptocurrencies on Kraken.
Funds stored on Kraken are deemed to be highly secure.
Kraken’s app interface is easy for users to use in transacting in cryptocurrencies.
Buycoins is one of the popular bitcoin wallets in Nigeria to buy, sell, and manage your cryptocurrency portfolio.
Buycoins offers a secure wallet to store your cryptocurrencies for free.
With this crypto platform, there are Zero transaction fees. There are no extra fees when you buy & sell on Buycoins.
Buycoins secure P2P trading platform is also very popular among Nigerians.
9. Remitano Wallet
10. Paxful Wallet
Paxful is one of the bitcoin wallets in Nigeria you can trust. Paxful is a great crypto platform for trading Bitcoin just ask the over 3 million people who have used the Paxful wallet to send and receive bitcoin in Nigeria.
Paxful wallet uses best-in-class security so you’ll never have to choose between security and convenience when doing bitcoin transactions.
It’s simple to use the platform but lacks support for other digital currencies.
You can use the Paxful wallet on all your devices. It lets you easily manage your bitcoin funds and top up directly via the Paxful peer-to-peer marketplace. So you can send or receive bitcoin in just a few clicks.
The multiple payment options on Paxful wallet include gift cards, debit or credit card, cash, and Skrill.
Paxful also has excellent customer support.
11. Busha Wallet
Not popular as other crypto wallets we’ve mentioned here, but Busha wallet is one of the best bitcoin wallets in Nigeria to use.
The Busha wallet is a multi-sig wallet- these are cryptocurrency wallets that require two or more private keys to sign and send a transaction. Multi-sig wallets have been said to be one of the most secure and fail-proof ways to store cryptocurrency.
Busha is designed to make it extremely easy for anyone to get started with selling and buying bitcoin and other cryptocurrencies.
12. Patricia Wallet
You should consider the Patricia wallet if you want a bitcoin wallet in Nigeria that you can easily use to make everyday payments.