Best Cryptocurrency Wallets In Nigeria-The cryptocurrency industry is rapidly expanding and gaining popularity. This includes Nigerian bitcoin wallets. As digital money grows in popularity, more companies opt to use it. Now is the moment if you haven’t considered using bitcoin as a payment option yet. Bitcoin is a peer-to-peer electronic payment system that enables you to move money from one person to another without using banking institutions. It is one of the most common online payment methods used by many companies. There are many methods for storing and accessing bitcoin, and not all of them are appropriate for the whole globe. This section will look at the best cryptocurrency wallets in Nigeria.
Best Cryptocurrency Wallets In Nigeria
Capital.com
Those who have yet to invest in digital currency should think twice about using a traditional crypto exchange and wallet. This is because Capital.com enables consumers to obtain exposure to cryptocurrencies without owning or storing any tokens. This is because Capital.com specializes in CFDs.
CFDs are real-time mirrors of bitcoin prices. Users may go long or short on their selected crypto CFD based on whether they believe its price will grow or decline. As a result, Capital.com customers may try to profit from the cryptocurrency markets without the necessity for a wallet.
Importantly, when a user cashes out their crypto CFD position, the proceeds are credited to the account balance. Another advantage of utilizing Capital.com to access Nigeria’s crypto marketplaces is that the company charges no commission. This is true across all of its supported markets, which include 470+ crypto pairings as well as thousands of equities, ETFs, currencies, and commodities.
Coinbase Bitcoin Wallet
Coinbase was founded in 2012 and is currently one of the world’s most prominent cryptocurrency platforms, offering a secure and user-friendly means to purchase and exchange different cryptocurrencies. This is obvious because it has over 43 million customers worldwide. Coinbase wallet is one of the best bitcoin wallets in Nigeria since it supports a wide range of crypto assets, provides access to decentralized applications (DApps), employs bank-level security, and provides cloud connectivity (Google Drive and iCloud).
However, Nigerians may only utilize Coinbase’s wallet services to move coins between Coinbase and other wallets; trading on the Coinbase exchange is not accessible to Nigerians. Coinbase is relatively simple to use, particularly for novices. However, if you’re a more skilled cryptocurrency user, you may utilize Coinbase Pro to access additional capabilities such as tracking market swings in real-time.
Binance Wallet
Although the cryptocurrency sector is flourishing, it is still a new and unregulated industry. People who want to acquire and trade cryptocurrency need a safe location to keep their digital assets. This is where the Binance wallet enters the picture. It’s a decentralized software for buying, selling, and trading cryptocurrency. It is built on the blockchain and offers the same degree of security as conventional exchanges.
The Binance wallet lets you purchase, sell, and exchange cryptocurrency using your phone. It has its coin, BNB, that can be used to pay for trading fees and transaction charges. The wallet also integrates with Binance DEX, a decentralized exchange that lets you trade cryptocurrency directly with other users without using an exchange.
Quidax
Quidax is a well-known exchange that caters to African merchants. The website enables users to purchase and trade bitcoins for a fee of 0.3%. The Quidax also functions as a custodial wallet that can be accessed online or via the iOS/Android app. Quidax controls the wallet’s private keys, which may appeal to newcomers. The fact that tokens kept in the Quidax wallet will be placed into the ‘Vault’ is a significant advantage of choosing this service. Users may earn interest on their tokens using an automated stacking mechanism.
Because there is no minimum redemption duration, staking rewards may be withdrawn at any time. Another advantage of Quidax is that the wallet provider accepts debit and credit cards. This implies that customers in Nigeria may quickly purchase digital money without leaving the wallet interface.
Quidax also has its native digital cryptocurrency called QDX. This digital currency is traded publicly and runs on the Binance Smart Chain. One of the primary disadvantages of this supplier is that it only supports 20+ tokens. As a result, diversification will be more difficult.
Trust Wallet
Trust wallet is one of the world’s most trustworthy and safe crypto wallets. Just ask the tens of millions of users that use Trust Wallet. You may use this open-source wallet to purchase, store, and collect NFTs, trade, and earn cryptocurrency. You may swap your cryptocurrency without leaving the Trust wallet app, and you can also see charts and cryptocurrency values inside the app.
Binance bought Trust Wallet as its official wallet in 2018. With the Trust wallet, you can purchase Bitcoin in under five minutes, earn interest on the cryptocurrency in your wallet, and keep all of your collectibles (art and NFTs) in one spot. Over 150 coins, including ERC 20 tokens, are supported by Trust Wallet. Because of its server-free technology, only you have access to your assets. It contains additional in-app security features such as Pin and biometric scanning. Trust wallet provides a straightforward user interface and cross-platform functionality.
ZenGO
ZenGO is one of the best cryptocurrency wallets in Nigeria for people looking for a straightforward and jargon-free interface. This wallet is a free mobile app for iOS and Android smartphones. It takes a few seconds to set up the wallet, and users may encrypt their accounts using biometrics. Even though ZenGo is a non-custodial wallet, restoring access to an account is simple.
For example, users may restore their wallets with a simple facial scan if the phone is misplaced or the app is inadvertently removed. Several organizations, including Scorpiones and Kudelski, have audited ZenGo. ZenGO provides a variety of different things in addition to storage. Users may exchange one digital token for another with a button, even across chains. ZenGo’s app has also been connected with Nexo, allowing users to earn interest on idle tokens.
Kraken Wallet
Kraken Wallet Kraken was founded in 2011 and has since evolved to become one of the largest cryptocurrency platforms available. Kraken is one of Nigeria’s most trusted bitcoin wallets for buying, selling, storing, and trading bitcoins.
Kraken was the first bitcoin exchange for passing a crypto audit using Proof of Reservation. This crypto platform has some of the lowest transaction costs among cryptocurrency exchanges. It also has incredibly cheap withdrawal rates on its wallet and no-fee deposits. On Kraken, Nigerians may trade over 20 different cryptocurrencies. Kraken funds are considered to be very secure. Users may easily utilize Kraken’s app interface to deal in cryptocurrency.
Paxful Wallet
Paxful is a trustworthy bitcoin wallet in Nigeria. Paxful is an excellent cryptocurrency trading platform for Bitcoin, as shown by the over 3 million users who have used the Paxful wallet to send and receive bitcoin in Nigeria. Paxful wallet employs industry-leading security, so you’ll never have to compromise security and ease while doing bitcoin transactions.
The platform is easy to use. However, it does not support other digital currencies. The Paxful wallet is compatible with all of your devices. It allows you to manage your bitcoin money effortlessly and top up directly via the Paxful peer-to-peer marketplace.
So you can transfer or receive bitcoin in a matter of seconds. Paxful wallet accepts gift cards, debit or credit cards, cash, and Skrill as payment methods. Paxful also provides exceptional client service.
Frequently Asked Questions
You must first exchange the token for Bitcoin or Ethereum via Trust Wallet. Then, you must transfer your Bitcoin or Ethereum to a renowned exchange where you may cash out your cryptocurrency. You may withdraw fiat dollars from the crypto exchange to your bank account after you have sold your cryptocurrency.
Capital and Trust Wallet is among the safest crypto wallets in Nigeria, thanks to its excellent security technology and the financial transparency that the firm is compelled to give. Capital is a fully-regulated British exchange, which means it’s a safe, secure platform supervised by reputable authorities.
Capital is the crypto wallet with the lowest costs since it does not charge trading, deposit, or withdrawal fees. Suppose you used a hardware or software wallet instead. In that case, you’d have to pay for the wallet ($100 or more) and all of the transaction fees associated with transferring money onto and off the wallet, which may quickly mount up to 1% – 5% of your entire crypto holdings.
In Nigeria, you may purchase cryptocurrencies using a cryptocurrency exchange like Luno. Each site has its own set of features and perks, but this list compares and contrasts some of the best platforms in Nigeria for buying and trading cryptocurrencies, all of which are very safe.
Capital is the best bitcoin purchasing app in Nigeria. It has a 4.7/5 rating in the Google Play Store, over 30,000 5-star ratings, and presently supports over 100 cryptocurrencies.
References
- https://www.business2community.com/ng/cryptocurrency/best-crypto-wallets
- https://koboline.com.ng/best-bitcoin-wallets-in-nigeria/
- https://primegatedigital.com/best-bitcoin-wallets-in-nigeria/
- https://www.yoreoyster.com/blog/best-crypto-wallet-nigeria/
- https://www.nigeriabitcoincommunity.com/bitcoin-wallet-nigeria/
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