Last Updated on December 23, 2022
Nigerians have become some of the biggest users of cryptocurrency worldwide, as the adoption of crypto and other altcoins continue to rise.
If you’re looking to join the crypto train in Nigeria, then it’s important you understand the need for apps for cryptocurrency trading in Nigeria.
If you’re going to keep your precious cryptos safe, then you need to use cryptocurrency trading apps in Nigeria that are secure and would let you manage your crypto transactions securely.
That’s why we have created this resource of the best apps to use for cryptocurrency trading 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 apps for cryptocurrency trading in Nigeria that you can use. Let’s talk a bit about what a crypto or cryptocurrency wallet is.
See: Games & Apps That Pay Real Money in Nigeria
ON THIS PAGE
Crypto Wallet: Hot, Cold, Custodial & Exchange wallets
A crypto wallet is no different from the normal physical wallet you use to hold your cash and cards. A crypto 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 crypto 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.
ALSO READ: Best P2P Crypto exchanges in Nigeria
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 do 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 for cryptocurrency trading in Nigeria, it’s better to hold your crypto assets in a wallet, instead of putting them at risk with crypto exchanges.
List of Apps for Cryptocurrency Trading in Nigeria
- Coinbase Wallet
- Luno Wallet
- Quidax Wallet
- Coinomi Wallet
- Trust Wallet
- Remitano Wallet
- Paxful Wallet
- Presmit Wallet
- Busha Wallet
- Patricia Wallet
Best Apps for Cryptocurrency Trading in Nigeria
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 cryptocurrency trading apps in Nigeria as it supports many different crypto assets, has 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 in 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.
First Launched in 2013 as BitX. Luno is both a cryptocurrency exchange and a wallet provider.
Luno is still one of the best cryptocurrency trading apps 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 them to trade. Luno supports 5 cryptocurrencies that you can trade:crypto – BTC, Ethereum – ETH, crypto Cash – BCH, Ripple XRP, and Litecoin LTC.
Quidax is another one of the best cryptocurrency trading apps 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; crypto (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 most 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 cryptocurrency trading apps in Nigeria to consider.
The Coinomi wallet is multi-lingual and provides support for over 125 cryptocurrencies and 382 ERC20 tokens.
BitPay is one of the best cryptocurrency trading apps in Nigeria to use. This online cryptocurrency wallet gives owners access to store, send or receive crypto (BTC) and crypto Cash (BCH).
With Bitpay you can convert cryptos to fiat and buy items with crypto.
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 crypto wallet in Nigeria, then you should open a Bitpay 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, and track charts and crypto prices within the app.
Binance acquired Trust Wallet in 2018 as its official wallet. With Trust wallet, you can buy crypto in less than five minutes, earn interest on the crypto in your wallet and store your collectables (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.
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 cryptocurrency trading apps 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 cryptocurrency trading apps 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
Remitano is an escrow peer-to-peer crypto trading platform
Remitano’s wallet is geared towards trading cryptos than storing. However, Remitano is still one of the better bitcoin wallets in Nigeria that are out there.
Remitano’s Swap feature allows you to swap between digital currencies, back and forth. Despite the fact that Remitano doesn’t support that many currencies.
But it has support for popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Bitcoin Cash (BCH), Litecoin (LTC), Ripple (XRP). Remitano’s interface is easy to use and the platform offers very good support.
10. Paxful Wallet
Paxful is one of the cryptocurrency trading apps in Nigeria you can trust. Paxful is a great crypto platform for trading crypto just ask the over 3 million people who have used the Paxful wallet to send and receive crypto in Nigeria.
Paxful wallet uses best-in-class security so you’ll never have to choose between security and convenience when doing crypto 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 crypto funds and top up directly via the Paxful peer-to-peer marketplace. So you can send or receive crypto in just a few clicks.
The multiple payment options on Paxful wallet include gift cards, debit or credit cards, cash, and Skrill. Paxful also has excellent customer support.
11. Presmit Wallet
Presmit crypto wallet is starting to gain popularity as one of the best cryptocurrency trading apps in Nigeria.
Presmit is a platform for trading, buying and selling digital assets like gift cards, crypto, USDT, litecoin, and dogecoin. You can use Naira, crypto or USDT for making payments on Presmit.
Once you open a Presmit account, you automatically own a crypto wallet. There’s no minimum or maximum amount of crypto you can trade using a Presmit crypto wallet.
Presmit offers a state of the art crypto wallet where you can send, receive and save your BTC.
12. Busha Wallet
Not popular as other crypto wallets we’ve mentioned here, but Busha wallet is one of the best cryptocurrency trading apps 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 cryptocurrencies.
13. Patricia Wallet
Patricia lets you do more with crypto than just sell, buy or transfer. You can buy data, buy gift cards and buy international airtime with Crypto.
The Patricia wallet can be accessed via desktop, mobile, or online by signing into your Patricia account or signing up as a new user your wallet is accessible.
Patricia wallet provides extra security layers like two-factor authentication and additional pin code requirements every time a wallet application gets opened.
You should consider the Patricia wallet if you want a bitcoin wallet in Nigeria that you can easily use to make everyday payments.
Leave a Reply