Getting a secure Bitcoin wallet is the first step to successful cryptocurrency investment.
Basically, it is an equivalent to your bank account, so it allows you to manage private keys, store, receive and send cryptocurrencies.
But be very careful when selecting your wallets!
Have you ever heard ‘Bitcoin wallet scam‘ or come across ‘cryptocurrency wallet verification problem’?
Pray you don’t, because the former is very painful (losing your investment fund to hackers), while the later is very stressful when your only means of verification are being rejected.
The increase adoption of Bitcoin and blockchain technology in Nigeria, it has become very paramount to safeguard your crypto asset with utmost care.
In this article, am going to list the best BTC wallet, that are secured and reliable for storing Bitcoin and any kind of cryptocurrency in Nigeria.
Best Bitcoin wallets in Nigeria
A Bitcoin cryptocurrency wallet can be an app, website, or device that enables you to send and receive crypto-coins at your comfort and convenience.
Below am going to list both free Bitcoin wallets and those high security ones your will need to purchase, if you really want to secure your crypto for the long-term investment strategies.
1. Ledger hardware wallets (Recommended)
The Ledger Nano X and Nano S are hardware wallets that keep your Bitcoins safe in an offline device that is about the size of a USB flash drive.
Ledger devices connects to your phone, or computer to store and access your digital holdings. The device is surrounded by a stainless steel cover, which makes it very durable.
A Ledger Live software is included as a feature, so you can use it to check your balance, and send and receive currencies.
Ledger supports over 1,200 digital coins and tokens, so you are far from limited to Bitcoin. Ledger Live even supports coin staking, in which you can earn rewards based on your balance.
The Nano S supports up to 20 currencies at a time, while Nano X holds up to 100 at a time. Both use highly secure chips similar to the ones used in a chip-based credit cards.
- Extremely secure offline storage
- Supports many currencies
- Highest-end version includes Bluetooth
- Complex setup for less tech-savvy users
- No incorporated exchange
2. Trust wallet app (Best mobile wallet)
Trust Wallet supports more than 40 blockchains, meaning that it supports thousands of cryptocurrencies and tokens. Needless to say, if you cannot find a wallet that supports a specific token, you should check out Trust Wallet.
Moreover, this cryptocurrency wallet is decentralized and doesn’t collect any of your personal data.
It has multiple card payment processors integrated into the wallet, so you’ll be able to purchase cryptocurrencies without the need to leave the mobile app.
- Decentralized wallet
- Offline mobile crypto wallet app
- Good security
- Supports ERC20 and 23 tokens
- Hot wallet
- Prone to hack due to internet
3. Luno web wallet
Luno Bitcoin Wallet, formerly known as BitX works as a wallet and also helps users transacts in their home countries. Luno is in more than 40 countries across Europe, Southeast Asia and Africa.
Luno makes it safe and easy to buy, store and trade cryptocurrencies like Bitcoin and Ethereum. One major advantage of Luno is the ability to allow direct fiat currency transactions to Bitcoin and Vice-versa.
- Trusted exchange
- Instant access to exchange
- Prone to be hacked
- No access to your private keys
Which is the best Bitcoin wallet in Nigeria?
These are the best Bitcoin wallets you can definitely start with, but if you have enough money to invest in your crypto-coin security, I would always recommend you purchase a hardware wallet.
Ledger Nano X is one of the best recent crypto hardware security devices in the market, and it has HD (Heuristic Deterministic) feature for maximum anonymity.
On the contrary, you can still use Trust mobile wallet app to secure your Bitcoin, as it is one of the best software wallets for crypto-coin security.
As for Luno wallet and any other web wallet, they are all very bad choice of wallets for storing your cryptocurrencies, because these kinds of wallets are prone to online thefts and hacks.