Today, we’ll see the top 10 cryptocurrency wallet apps in Nigeria.
I get it, you’ve begun your journey into the ever-changing world of cryptocurrency. The benefits you hear are amazing. The risks? Every business has its risks.
“This is wonderful,” you say to yourself. You dive in. You learn the fundamentals.
You’re eager to start trading. To see how lucrative cryptocurrency investment is. You don’t want to miss out on the rewards. But frankly speaking, you need a wallet; a cryptocurrency wallet where you can store your bitcoin, Ethereum and other coins you have.
And that’s a problem:
I mean, the problem of knowing which of the wallet apps is meant for you.
You’re overwhelmed…
…but you’re also smart! “There must be an answer,” you say. (Sure there is!)
So you beseech Google for answers:
- What’s the best cryptocurrency wallet in Nigeria?
- What’s the best Bitcoin wallet in Nigeria?
- What’s the best Ethereum wallet in Nigeria?..
Enough of the search! Take a seat, because…
…you’ve come to the right place, I’ll be answering your questions. And at the end of this blog post, you’d be able to choose what’s best for you.
Also, I’ll also be highlighting the pros and cons of each cryptocurrency wallet app listed here.
But before we get to the list, let’s understand some of the basics:
What is a Cryptocurrency Wallet?
A cryptocurrency wallet is used to store digital money or currencies, just as we use conventional wallets to store our money. And in some cases, they double as a cardholder.
And to store your digital assets securely, certain features need to be in place. Unfortunately, not all wallets are secure.
We have two broad categories of wallets, which are:
- Full Node and
- SPV Wallets.
SPV Wallet is further divided into:
- Hot wallets
- Cold wallets
Cold Wallets are more secure since they are offline.
In contrast, Hot Wallets are not as secure and are less expensive as Cold Wallets. This is due to their online nature which makes them susceptible to remote attacks.
In this blog post, I’ll be focusing on Hot Wallets which are:
- Web Wallets
- Desktop Wallets
- Mobile Wallets
Specifically, Mobile Cryptocurrency Wallets. And you may be thinking that…
Why Do I Need A Cryptocurrency Wallet?
You need a cryptocurrency wallet simply because of Security!
Let me explain: Storing your digital currencies on an exchange platform exposes your assets to risks, If the exchange gets hacked, you lose everything!
Since an exchange operates via an online structure, they run a risk of getting hacked.
We’ve had a lot of hacks in the crypto world:
Most recently, was the Italian cryptocurrency firm, Altsbit, which occurred in February 2020. They lost over $70,000 worth of cryptocurrency. A lot of traders lost huge sums due to this attack.
What’s my point?
Inasmuch as it is convenient to trade on exchanges, it is not a good option for holding cryptocurrencies. It is much safer to trade in chunks from your wallet, instead of risking it all on exchanges.
You should never store your digital assets on an exchange!
Now we’ve gotten that out of the way, what are the best cryptocurrency wallet apps in Nigeria?
We’re about to find out.
Top 10 Cryptocurrency Wallet Apps in Nigeria
#1. Blockchain Wallet App
Have you heard anything about Blockchain wallet apps in Nigeria, right? I bet you have, But there’s more to hear.
Blockchain wallet is the go-to choice for most beginners and enthusiasts alike. It’s simple and straightforward, with no fancy features. Only the required features needed for a cryptocurrency wallet.
Features of Blockchain wallet App
- Support for your favorite assets
- Direct trading from your wallet
- Price charts history
- Adequate security features
- And much more
So, if you need a top-of-the-line cryptocurrency wallet, I’ll recommend using Blockchain. It is much secure since it’s just that — a wallet.
Pros of Blockchain Wallet App
- Advanced Security features like Hierarchical deterministic for each transaction.
- Easy to use.
- Direct trading from your wallet.
Cons of using Blockchain Wallet app
- Can’t buy FIAT through the wallet.
- Blockchain wallet is only compatible with Bitcoin, Bitcoin Cash, and Ethereum.
#2. Luno Wallet
Luno is the most popular cryptocurrency wallet app in Nigeria because the interface is neat and easy to navigate. Trading experience on Luno is one of the good options you can get.
As for the Luno wallet, you can store Bitcoin, Ethereum, LiteCoin, Bitcoin Cash, and Ripple.
Apparently, the limited number might be a let down especially if you love to invest in altcoins.
But you still get a good trading experience on all five currencies. Whether you’re a newbie with no experience, or a pro looking to flex his muscles.
Security-wise, Luno has adequate security measures to keep your assets safe. And at the same time, provide a seamless trading experience.
Pros of Luno Wallet App
- Easy to use
- Adequate security measures
- Live charts
Cons of Luno wallet app
- Limited currency support
#3. Coinbase Wallet
As far as popularity goes, Coinbase is a household name world over. Don’t take my word for it.
Take a look at some of the features you get:
Features of Coinbase wallet app
- A functional UI that makes trading seamless
- Supports your favorite cryptocurrencies
- Regular tips for beginners (and for experts)
- Access to decentralized apps (DApps).
- Coinbase now lets you pay other Coinbase users with their usernames. Goodbye, boring string of cryptic characters!
- Coinbase offers bank-level security
- Cloud integration (Google Drive and iCloud)
- Feature to remotely disable your account, and
- In-app security.
And the best part?
- You don’t need a Coinbase account to use the wallet. You can import your private keys from other wallets and get the best Coinbase has to offer.
Now you see why they’re so popular?
It starts at $20 and you can get all these and more.
Pros of using Coinbase wallet app
- Instant transfer using usernames
- Easy to use interface
- A large variety of deposit and withdrawal options
- Top-notch security
Cons of using coinbase wallet app
- Privacy concerns
- Below par support
- Delayed deposit and withdrawal
#4. Trust Wallet (Binance)
In 2018, Binance acquired Trust Wallet as its official wallet. The acquisition brought a lot of improvements to the already great wallet.
With Trust Wallet, you don’t have to sign up or fill forms; download the app, and you’re locked and loaded.
Trust Wallet supports 150+ cryptocurrencies including all Binance, TRON, and ERC 20 tokens. It’s also open-source and this makes it more secure than most wallets.
Its server-free infrastructure means no one has access to your assets except you. Pin and biometric scanning is also provided for in-app security.
You also get a Multi-coin wallet with the Bitcoin and Ethereum wallet. And yes, the UI is simple.
Pros of using Trust wallet
- Large range of currency support
- Easy to use
- Cross-platform support
Con of Trust wallet
- No 2FA
#5. Buycoins Wallet
Buycoins is a home breed. One of the few brands that you can instantly buy and sell crypto. They’ve gained a good reputation in a few years with their secure P2P trading platform.
As for security, your wallet lives on secure servers. So you can trade instantly from your wallet knowing that Buycoins got you covered.
And before I forget, their rates are okay.
Want to know the best part?
Transactions are free on Buycoins: whether you’re trading on Bitcoin, Ethereum, or LiteCoin. It’s free!
Pros of Buycoins wallet
- Ease of use
- 0% transaction fee
Cons of Buycoins wallet
- Inadequate security
- Supports only three currencies
#6. Quidax Wallet App
Quidax is an African brand with focus on the growth of digital currency in the continent. This is why they’ve created the Quidax app to cater to all and sundry in this regard.
Quidax doesn’t offer a lot of options when it comes to supported currencies. But it supports some notable coins: Bitcoin, Ethereum, Litecoin, Ripple, Dash, and USDT.
Quidax’s wallet is backed by some good security features for safer transactions. Quidax also provides a 2FA system using Google Authenticator, Authy, or Email.
With Quidax, you’ve got a wallet that protects your digital assets and allows convenient trading.
Pros of Quidax wallet
- Easy to use
- Convenient for trading
Cons of Quidax wallet app
- Below par support
#7. Remitano Wallet App
Are you looking for an escrowed peer-to-peer trading platform? If yes, look no further because Remitano got you covered.
While its P2P exchange is one of the better options out there, the wallet still has room for improvement.
But Remitano isn’t a full-fledged wallet, its focus is on trading.
It doesn’t mean you shouldn’t use Remitano.
The mobile app has fantastic features that you don’t see on other cryptocurrency apps. The Swap feature allows you to swap between digital currencies, back and forth.
Remitano doesn’t support many currencies. But have the usual suspects: Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Bitcoin Cash (BCH), Litecoin (LTC), Ripple (XRP).
You can also earn more money using Remitano Invest. With this, you can invest in altcoins using USDT.
It’s an interesting addition and a nice way to make passive income.
Pros of Remitano Wallet app
- 24/7 P2P trading
- Good support
- Easy to use
Cons of Remitano Wallet app
- A limited number of cryptocurrencies
#8. Paxful Wallet App
Paxful is a good platform for trading Bitcoin. It’s a simple platform but lacks support for other digital currencies.
Yet there are lots of options to simplify trading from its Bitcoin wallet.
One is its multiple payment options: You can buy Bitcoin using over 300 payment options. Some of which are Gift cards, debit or credit card, cash, and Skrill
You don’t have cash? You can use your credit or debit card.
No card? Make use of Skrill.
The payment options are endless. Nothing stops you from buying Bitcoin via Paxful.
But before you buy, check out the pros and cons.
Pros of using Paxful wallet app
- Easy to trade Bitcoin
- Multiple payment options
- Excellent customer support
Cons of Paxful Wallet app
- High exchange rates
- Inadequate security
- No 2FA
#9. Busha Wallet
Not popular as a brand, but Busha makes it to our list of cryptocurrency wallet apps in Nigeria.
Here’s why:
Unlike many platforms, trading of cryptocurrency on Busha is free.
And you’re thinking…
“Their rates will be high.” Not true!
Busha offers you competitive rates on Bitcoin, Ethereum, and LiteCoin.
It’s the best of both worlds!
As for Busha’s cryptocurrency wallet, it is user-friendly but falls short in many areas.
You wouldn’t expect much from somewhat of a new player, would you? I bet you won’t!
Either way, you can start using Busha by visiting your app store.
Pros of Busha Wallet app
- User friendly
- Good rates
Cons of Busha wallet app
- Below par support
- No 2FA
- Only supports Bitcoin, Ethereum, and LiteCoin.
#10. Patricia Wallet
Patricia is a new player in the crypto space. They’re now getting traction as the days go by.
Although still in their early stages, Patricia’s services are one to look out for. They’re not at the bleeding edge in the crypto world, at least not yet.
But they’ve got a team focused on continuously improving on its services. And if this continues, they may as well go ahead of every other player in the Nigerian crypto space.
Patricia only supports Bitcoin which you can easily trade directly from your wallet.
- The wallet has multi-level security in place to make sure funds are secure.
- It’s a functional wallet but there’s still room for improvements.
- Supporting other digital currencies will be great.
- An added layer of protection with 2FA.
- And if possible, a cold storage facility.
All these and more will make a lot of difference.
But for now, you can download Patricia from your favorite store and start trading Bitcoin.
Pros of Patricia wallet app
- Easy to use
- Competitive Bitcoin rates
Cons of patricia wallet app
- Below par support
- No 2FA
- Only supports Bitcoin
There you go! Those are the top 10 cryptocurrency wallet apps in Nigeria. But here is a bonus:
3 Safety Tips to Remember when using any cryptocurrency wallet apps
- Remember to keep your device (smartphone, laptop, or PC) secure. Be mindful of links you click.
- Don’t keep your seeds on your device. Some apps above integrate seamlessly with cloud storage options. Try utilizing these options.
- Finally, no one needs to know you have a crypto asset. If anyone does…well… you don’t want to hear what I’ll say next.
Conclusion on top cryptocurrency wallet apps in Nigeria
Which is the best for you?
Is it Luno’s wallet and its straightforward system? Blockchain wallet with the Hierarchical deterministic feature? Or Trust Wallet with support for many digital currencies?
Perhaps you want to try the new players, they’re also good options.
Note that, none of these wallet apps are promoted, and this post is not sponsored by any brand or person. Kindly like this blog on Facebook.
