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The Best Crypto Wallets in Nigeria for 2024
Swen Keller
Best For Access to Multiple Blockchain Networks
Promo Code N/A
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Best for Rewards on Crypto Exchanges
10 AWC Sign Up Bonus
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Best for Large Selection of Assets
25 TWT after use of Promo Code
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Best For Third-Party Software Integration
$10 in Bitcoin after referral
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This article lists the best crypto wallets in Nigeria. For each of these best crypto and Bitcoin wallets in Nigeria, we analyze their pros and cons, unique features, security measures, and what makes them different.
To build our list of the top crypto wallets in Nigeria we got first-hand experience with each crypto wallet, analyzed user reviews from platforms like TrustPilot, and took into consideration expert opinion of the best crypto and Bitcoin wallet in Nigeria.
That said, by leveraging our expertise in crypto wallets, we observed that Trezor comes out as the best crypto wallet (our pick) in Nigeria.
This is primarily for its high-level security measures and ease of setup.
Coldcard MK4 - Best Bitcoin Wallet in Nigeria
Made in Canada, Coldcard MK4 made it to our list of the best crypto wallets in Nigeria for its Bitcoin-only storage.
The hardware Bitcoin wallet focuses on ease of use as it offers a full-sized numeric keypad that makes entering your PIN for Bitcoin signing quick.
Coldcard also features a MicroSD card slot for data storage and backup, which enables you to truly sign your Bitcoin wallet transactions offline by transferring both the signed/unsigned transactions in SneakerNET.
Aside from these, the Coldcard MK4 Bitcoin wallet has a 124×64 pixel OLED screen, which is quite clear enough to view important details of your Bitcoin transactions.
In comparison to its previous model, the MK3, this Bitcoin wallet in Nigeria, Coldcard MK4 differs with the following features:
USB-C Connector
Unlimited Memory with no Bitcoin transaction size restrictions
NFC Tap for all types of data, PSBT, Address, etc.
A Bitcoin wallet sliding cover protects the screen
Dual SE (Secure Elements)
Extensive duress PIN features
Multi-vendor solution
USB Virtual Disk mode
Features
Duress PIN
This is one of the features that make Coldcard MK4 one of the best Bitcoin wallets in Nigeria.
The Duress PIN code is an optional security feature that allows the user in security-threatening situations to enter a pseudo PIN instead of the real PIN code.
This will show a fake screen where everything operates as normal. However, the Bitcoin private key that is generated won’t be the main key.
Simply put, it is a completely different Bitcoin wallet.
Coldcard advises that to take full advantage of this MK4 feature, you should send some Bitcoin to the Duress wallet.
How much is dependent on the amount you’re willing to lose or need to make it believable.
Note that the Duress Wallet is still derived from the original Coldcard MK4 BIP39 words, so there’s no need to back it up individually. That said, there’s no way to move from that wallet back to the original wallet with real money in it.
Security
Coldcard MK4 offers a wide range of security measures making it one of the best crypto wallets in Nigeria.
Security features include:
A classic slidable protective cover to prevent exposure of the screen to damage
Duress PIN and Wallet for situations where you’re forced to sign transactions physically
AirGap SneakerNET for maximum security during data transfer between deducted l services
PIN code
Dual Secure Element for Bitcoin key storage
Recovery seed phrase
Dice roll BIP39 seed phrase generation
Encrypted backup
Pros
- Duress PIN available
- Dice roll BIP39 seed phrase generation supported
- Full-sized numeric keypad
Cons
- Supports only Bitcoin
- Not truly Air-Gapped
Cost
The base price of the Coldcard MK4 is $157.94.
However, from time to time the Bitcoin wallet offers discounts for customers willing to pay in Bitcoin and using promo codes.
Exodus Wallet - Best Crypto Wallet in Nigeria for Access to Multiple Blockchain Networks
Founded in 2015 by Daniel Castagnoli and JP Richardson, the Exodus wallet is a software or hot wallet for storing over 1,000 cryptocurrencies.
The Bitcoin wallet made it to our list of the best crypto wallets in Nigeria for its support for a large selection of blockchain networks (over 50) allowing you to swap between thousands of digital currencies.
Exodus also allows you to buy cryptocurrency using your local fiat currency via credit card, debit card, bank transfer, Google Pay, and Apple Pay.
Exodus wallet is available on the Chrome and Brave browser, Android and iOS, and desktop devices.
On the Exodus mobile wallet, for instance, you can manage multiple portfolios, stake eligible cryptocurrencies for up to 18% APY, view your NFTs, and explore Web3 apps.
Exodus is also compatible with the Trezor hardware wallet, allowing you to gain access to Trezor’s tight hardware security while being able to swap digital currencies between both products.
Features
Web3 Wallet
Exodus Wallet offers a Web3 crypto wallet via the Chrome and Brave browser that allows you to connect to Decentralized Finance (DeFi) apps and all of Web3.
The Web3 wallet allows you to send, receive, and swap digital assets including NFTs on all 12 supported networks (Binance Smart Chain, Solana, Ethereum, etc).
You can also stake Cardano and Solana directly from the Exodus Web3 wallet for passive rewards.
For its on-chain cryptocurrency swaps, Exodus Web3 wallet automatically scans numerous decentralized exchanges to find the best price.
Security
Exodus, the best wallet for access to multiple blockchain networks, is a self-custodial crypto wallet.
This means that you have complete control and ownership of the private keys of your cryptocurrencies.
Exodus customer support team does not have access to your wallet or digital assets, which means that you are 100% responsible for the security of your crypto private keys and cryptocurrencies.
However, the non-custodial wallet in Nigeria offers some security measures such as compatibility with hardware wallets, Trezor Model T and Trezor Model One, for additional safety.
The hardware crypto wallets are generally impregnable except with physical access.
Exodus also features an auto-lock security measure that automatically locks your wallet after a particular timeframe set by you.
Once the feature is enabled you will need to enter a password when you want to initiate transactions, view private data, etc. during the auto-lock period.
Pros
- Supports thousands of cryptocurrencies
- Gives access to more than 50 blockchain networks
- Hardware compatibility available
- Easy to use
Cons
- High third-party fees for buying cryptocurrency using fiat currency
Cost
The Exodus wallet, like most non-custodial crypto wallets, is completely free.
That said, you’ll need to pay fees applicable if you intend to use third-party apps connected to the wallet.
These fees are not charged by Exodus.
Atomic Wallet - Best Crypto Wallet in Nigeria for Rewards on Crypto Exchanges
Used by more than 5,000,000 cryptocurrency investors and traders, the Atomic wallet is a self-custody cryptocurrency wallet built for buying, staking, and exchanging cryptocurrencies and digital assets.
The wallet made it in our list of best crypto wallets for its instant cashback rewards program for users who use the exchange feature of the wallet.
This feature is available when you swap over 60 cryptocurrency pairs.
That said, the Atomic wallet supports more than 1,000 digital assets and allows you to hold your NFTs.
The wallet also offers between 5% to 22% APR in rewards for staking Ethereum, Cardano (ADA), Hedera (HBAR), Binance (BNB), Solana, and other coins.
Features
Cashback Rewards
Atomic Wallet offers a cashback rewards program built to give users cashback on every exchange or purchase they make via the in-built crypto exchange.
The amount earned via the cashback program depends on the membership status of the user.
There are 4 cashback levels with the lowest cashback level offering 0.25% with a monthly maximum amount of 50 USD and the highest level offering 1% cashback with a maximum of USD 600 monthly.
All cashbacks are sent to eligible users before the 15th of each month.
Security
Atomic wallet is a non-custodial decentralized crypto wallet. So unlike centralized crypto exchanges, Atomic Wallet does not own your backup phrase and private keys, you do.
This means that you fully control and own your digital assets and Atomic Wallet has no access to your wallet and private data.
Also, the 12-word recovery phrase and crypto private keys are stored locally on your device in an encrypted format.
In addition, your cryptocurrencies are not located in the wallet itself but are securely stored on the relevant blockchain.
So Atomic wallet is directly connected to the blockchain nodes to reveal data about your portfolio, wallet balance, transaction history, and anything you can see in your wallet.
For wallet access, the Atomic wallet is secured with a password and as long as you don’t share your recovery seed phrase or device with a third party, the wallet remains secure.
Pros
- Supports more than 1,000 crypto assets, including NFTs
- Gives users full ownership of private keys
- Offers high staking rewards
- Cashback rewards available
Cons
- The wallet has been hacked in the past
- No hardware wallet integration
Coinomi - Best Crypto Wallet in Nigeria with a Strong Industry Reputation
Coinomi is one of the oldest crypto wallets in Nigeria as well as the entire world. It was founded in 2014 and has never been hacked or compromised since its inception. Beyond its strong safety reputation, our practical experience with this wallet has shown that Coinomi offers a large selection of cryptocurrencies (over 1,700 digital assets) and connects with 125 blockchain networks.
Also, like most self-custody crypto wallets in Nigeria, Coinomi supports in-app exchanges and staking of supported assets.
The cryptocurrency wallet is available in more than 24 languages including Portuguese, Spanish, and French.
Features
Coinomi Crypto Exchange
This cryptocurrency wallet allows you to swap and trade over 1,770 digital assets without having to leave the app.
Coinomi achieves this via decentralized exchange integrations and various monetary processing partnerships.
For safety when using the on-site exchange features, Coinomi masks your IP address to prevent identity leaks.
The crypto wallet also allows users to buy digital assets using debit and credit cards via its Simplex integration.
Coinomi also supports the conversion of cryptocurrencies into gift cards.
Security
Since Coinomi is a non-custodial crypto wallet, it does not store or hold your private keys.
Rather, your private keys are encrypted by an AES key derived from your selected password and stored locally on your device.
So when you enter your Coinomi password your private keys are decrypted locally and used in signing transactions after which it destroys plain text keys immediately.
The wallet also offers protection against excessive wrong PIN input, which will permanently delete your wallet from the device.
To regain access you’ll need to use your secret recovery phrase.
Also, all transactions on Coinomi are anonymous and the wallet does not log private data.
Pros
- Coinomi has never been hacked
- Gives access to private keys
- Supports a large selection of cryptocurrencies
Cons
- No hardware compatibility
- Does not support NFTs
Trust Wallet - Best Hot Wallet in Nigeria for Large Selection of Assets
The Trust wallet is a non-custodial hot wallet that gives you total control of your private keys and crypto assets. The wallet has a beginner-friendly interface that allows newbies to buy, store, receive, send, and stake cryptocurrencies.
This Bitcoin wallet in Nigeria supports over 9 million crypto assets. It also supports the storage of NFTs and the staking of over 2 million crypto coins and tokens directly from your mobile device.
Trust Wallet app is available for download on the Google Play Store, Huawei App Gallery, and the Apple App Store.
The Wallet app gives you access to your crypto assets on the go and allows you access to all of Trust Wallet’s features including staking.
Trust Wallet is available to download free of charge.
Fees required go to miners and validators.
Features
Trust Wallet DApp Browser
The Trust Walletallet dApp browser allows you to interact with any decentralized application. This includes OpenSea, Uniswap, and PancakeSwap.
All decentralized applications are thoroughly vetted and optimized before they are added to the DApp Marketplace.
The dApp browser is optimized for mobile. It is compatible with both Android and iOS devices.
It also has different tools that provide a simple and secure connection between Trust Wallet and any decentralized application in the Binance Smart Chain and Ethereum network.
Security
Trust Wallet is a non-custodial hot wallet, which means that all your crypto assets are stored online.
As a non-custodial wallet, you have full custody of your private keys and can store them on your computer or mobile devices. This means that you are responsible for the security of your private keys.
Trust Wallet has security measures in place that ensure the security of your assets.
This includes the encryption of all private keys to one master private key. The master key is run through an algorithm that generates a 12-word recovery phrase which you will use to back up your wallet immediately after you sign up.
Other available security features include PIN code, Passcode, Touch ID, and Face ID.
Trust Wallet also conducts regular audits through the security firm known as Stateful.
Pros
- Large selection of cryptocurrencies and NFTs
- User-friendly interface
- It is available for free
- It is a non-custodial wallet
Cons
- It has no web wallet or browser extension
- Susceptible to malicious attacks
Trezor Wallet - Best Portable Hardware Wallet in Nigeria
Launched in 2014, the Trezor hardware wallet is a portable and secure hardware wallet suitable for beginners.
Trezor is the first cold cryptocurrency wallet and has remained at the top as one of the best Bitcoin wallets in the country.
The wallet supports over 1,500 cryptocurrencies. Trezor only supports NFTs via a third-party interface. It also does not offer staking rewards.
The Trezor wallet can be connected to a laptop or computer via Trezor Suite. This allows you to easily manage your crypto assets in a controlled ecosystem.
Trezor offers 2 models: Trezor Model T and Trezor Model One.
The Trezor model T costs 213 USD.
It has a 1.54-inch Touchscreen color LCD and supports the selling, buying, swapping, sending, and receiving of over 1456 cryptocurrencies with no fees.
It is protected with several security features including PIN and passphrase entry directly on the touchscreen, Advanced Samir Backup, FIDO2 & U2F authentication standards, and Standard seed Backup.
The Trezor Model One, on the other hand, costs USD 67 and has a two-button pad. Model one supports 1,289 cryptocurrencies.
Available security features in the Trezor Model One include Standard seed Backup, U2F security technology, and secure Trezor access using a computer.
Features
Trezor Suite
Trezor Suite is an app that allows you to monitor and manage your crypto assets stored on the Trezor hardware wallet.
Trezor Suite has a user-friendly interface and it is available on Android and iOS devices.
Once you connect your hardware wallet to Trezor Suite, you can send and receive coins, make crypto payments, and track your portfolio.
For security reasons, all transactions on Trezor Suite must be directly confirmed on the Trezor hardware wallet before approval.
You can also set up a hidden wallet or add extra privacy by going incognito with CoinJoin.
Security
After our detailed analysis and use of this crypto wallet, we discovered that the Trezor wallet is one of the most secure Bitcoin wallets.
All Trezor wallets use the Trezor custom-built operating system known as Trezor Core.
The wallets also have firmware signature verification which allows only signed firmware to run on the wallet.
This prevents hackers from infiltrating the device and overwriting specific code like the operating system and the firmware.
Trezor hardware wallets are also protected by a 50-digit long user-defined PIN.
All transactions on the wallet must be confirmed by inputting this PIN on the wallet device.
Pros
- Portable design
- Highly secure
- Large selection of cryptocurrencies
- Beginner-Friendly
Cons
- A bit pricey
Cost
Trezor Model One costs $69 and Trezor Model T costs $213.
Ledger Hardware Wallet: Best Hardware Wallet For Third-Party Software Integration
Launched in 2014, the Ledger hardware wallet is arguably one of the best Bitcoin wallets in Nigeria.
It allows users to buy, sell, receive, send, and store over 5,500 cryptocurrencies. It also supports the storage of NFTs.
Due to its strong security, the Ledger hardware wallet is the best wallet for occasional crypto investors who wish to store large amounts of crypto assets for an extended period.
The Ledger wallet offers 3 hardware models with the most popular options being: Ledger Nano X and Ledger Nano S Plus.
The Ledger Nano X hardware wallet is suitable for advanced users. It features a large screen, 8 hours of battery life in standby mode, a 128 X 64 pixels screen, a USB-C connector, and Bluetooth compatibility.
The Ledger Nano X weighs 34g.
It allows users to install up to 100 apps at the same time and is compatible with Ledger Live and over 50 other crypto wallets.
Available security features in the Nano X include a PIN code, a certified secure chip (CC EAL5+), and a 24-word recovery phrase.
The Ledger Nano S Plus on the other hand is suitable for beginners. Ledger Nano S weighs 21g and features a 128 X 64 pixels screen and a USB connector.
Ledger Nano S does not have any Bluetooth connectivity and lacks a standby battery.
Features
Ledger Live App
The Ledger Live app is a mobile app that allows you to manage your crypto assets in the Ledger Nano S and other Ledger hardware wallets on the go.
With Ledger Live you can buy Bitcoin and other cryptocurrencies and have them deposited directly into your Ledger hardware wallet.
Aside from the buying of crypto assets, Ledger Live also allows you to manage your crypto assets, swap over 50 crypto assets, stake your crypto assets, and earn crypto rewards.
You can also access over 15 Web3 applications including Lido, ParaSwap, 1inch, and Zerion.
The Ledger Live app has a Secure Element which makes it tamper-proof and resistant to hacking attacks.
All transactions on the Ledger Live app must be physically validated on the hardware wallet before approval.
Security
All Ledger hardware wallets are protected with a special chip known as the Secure Element.
Users’ private keys are isolated, encrypted, and stored in the Secure Element chip which is tamper-resistant.
The Secure Element makes the Ledger wallet able to withstand the most sophisticated attacks.
Ledger also uses its custom operating system BOLOS. This OS provides extra security against malicious attacks by ensuring that each crypto wallet is isolated from other crypto wallets.
Other available security measures on Ledger wallets include regular tests by Ledger’s white hacking security lab, a Ledger-developed authentication known as Genuine Check, a 24-word recovery phase, and a PIN code.
Pros
- Easy to set up
- It supports swapping, lending, and staking
- Large selection of cryptocurrencies
- Good security
Cons
- Limited storage space for crypto applications
Cost
Ledger wallets cost from $79 to $149 depending on the model you go for.
MetaMask - Best Browser Extension Hot Wallet in Nigeria
The MetaMask Bitcoin wallet is a non-custodial hot wallet that stands out for its browser extension.
MetaMask supports all Ethereum-based tokens and NFTs. It also supports other blockchain networks like Arbitrum, Polygon, and the Binance Smart Chain.
MetaMask is compatible with hardware wallets like Ledger, Trezor, Keystone, Lattice, and AirGap Vault.
MetaMask is available on both web and mobile and it is suitable for both beginners and advanced traders.
The MetaMask browser extension has a swap feature known as MetaMask Swaps which has an in-built decentralized aggregation solution, this allows the wallet to easily interact with decentralized applications.
Since the MetaMask wallet is non-custodial, no sign-up or KYC verification is required to use the wallet. It is also available for use free of charge.
The Wallet has a banking integration feature that allows investors to fund the wallet directly from their bank using third-party payment processors like Simplex and MoonPay.
Features
MetaMask Browser Extension
The Metamask wallet was created as a browser extension, but a mobile app was created down the line to enhance accessibility.
That said, the MetaMask Browser Extension is still very active and the most preferred option for several users.
The browser extension allows users to access Ethereum-enabled decentralized applications in their browsers.
With the browser extension, you can interact with Web3 Dapps, access ICOs, and NFTs, and swap cryptocurrencies.
The MetaMask browser extension is compatible with the following browsers Brave, Opera, Google Chrome, Firefox, and Edge.
The most popular and recognized extension of MetaMask is the MetaMask Chrome browser extension.
Security
MetaMask is a self-custody wallet. This means you have full control of your private keys.
That said, MetaMask ensures the safety of the wallet by using several security measures, which include the customization of your privacy preference to help you activate certain security features like phishing detection, Batch account requests, Token auto-detect, and Custom IPFS gateway.
MetaMask’s security libraries are regularly being audited by independent researchers and security experts.
Pros
- Supports NFT Storage
- Offers staking and crypto swaps
- Large selection of cryptocurrencies
Cons
- Not as secure as hardware wallets
- Poor customer service
Quidax - Best Crypto Wallet For Buying Crypto With Naira
Founded in 2018, the Quidax wallet is a simple Bitcoin wallet in Nigeria that allows you to not just store but also buy and sell crypto using Naira.
The Wallet has a beginner-friendly interface and can be accessed through the Quidax mobile app. The Quidax mobile app is available for download on the Google Play Store and the Apple App Store.
The Quidax wallet supports over 20 cryptocurrencies including Bitcoin and other cryptocurrencies like Ethereum, Dogecoin, QDX, etc.
It also supports the staking of QDX tokens and offers up to 10% daily interest when you save crypto in your wallet.
Features
Instant Buy and Sell
The Instant Buy and Sell feature lets you instantly buy and sell crypto directly from your Quidax wallet within seconds.
You need to have enough funds in your fiat account balance to use this feature.
To use this feature all you need to do is go to the Instant Buy and Sell section, select the crypto you wish to buy or sell, and input the amount.
The crypto will be instantly deposited or withdrawn from your wallet immediately after the transaction is complete.
Security
The Quidax wallet is a hot custodial wallet. This means you do not have full control of your crypto private keys.
That said, the Quidax wallet is protected with various security measures including two-step verification using Authy or Google Authenticator.
Pros
- Offers instant buy and sell
- Supports staking of selected crypto assets
- Beginner-friendly
Cons
- Limited cryptocurrencies supported
- Susceptible to malicious attacks
Cost
Opening an account on Quidax is free. However, it charges trading fees.
Luno - Best Crypto Wallet For Crypto Investing In Nigeria
The Luno Crypto wallet is one of the best Bitcoin wallets in Nigeria. It allows you to buy, sell, receive, and store different cryptocurrencies.
Supported cryptocurrencies include Bitcoin, Bitcoin Cash, Ethereum, XRP, Solana, Chainlink, Litecoin, etc.
A major outstanding feature of the Luno wallet is its support for investing in multiple crypto assets at the same time through the Luno Large Cap Bundle.
The bundle comprises top-performing coins tracked by market capitalization on the Large Capitalization Select Index.
When you buy a bundle, Luno splits your investment equally across all the coins on the bundle and deposits the purchased crypto in your Luno wallet.
The minimum amount of bundle you can buy in Nigeria is ₦2,500, while the maximum amount you can buy is ₦3,600,000.
There is no minimum if you are selling the whole bundle. But if you are selling a portion, you must sell at least ₦2,500 worth.
When you sell a portion of the bundles, you are selling a portion of all the coins in the bundle. You cannot sell or send individual coins in the bundle.
The Luno wallet also has a local currency wallet which allows you to deposit fiat currency. All deposits you make from your bank account via payment vouchers, show in the local currency wallet.
Features
Luno Repeat Buy
The Repeat Buy feature allows you to automatically buy crypto at the frequency of your choice – monthly, weekly, or daily.
The Repeat Buy runs on autopilot and will constantly buy crypto whether the price is high or low, this helps to build your crypto portfolio over time.
The Repeat Buy feature can be activated from the Luno Wallet app.
All you need to do is to ensure that there is enough fiat currency in your local currency wallet.
You can view and manage your repeat buys from your Wallet’s main screen. You can also pause, resume, or remove Repeat Buys.
Security
The Luno wallet is a custodial hot wallet. Our detailed first-hand scrutiny of this crypto wallet showed that the Luno wallet has never been compromised.
Luno stores 95% of users’ crypto assets in deep freeze multi-signature wallets, while the remaining 5% in the hot wallet are protected with several security measures.
Available wallet security measures include two-factor authentication and passwords. The passwords are stored in a hashed form so that no one else can access them.
Pros
- Beginner-friendly
- Simplified investments
- Has never been hacked
Cons
- Limited cryptocurrencies supported
- Limited Features
Cost
Opening an account on Luno is free. However, trading fees apply.
Crypto Wallets in Nigeria Comparison Table
Exodus
URL: https://www.exodus.com
Hardware Wallet Compatible: Yes (Trezor Model One and Trezor Model T)
Price: Free
Staking Rewards: Yes (Up to 18.97%)
Platform App: Desktop/Mobile
NFTs Storage: Yes
No. of Cryptocurrencies Supported: 1000+
Type of Wallet: Non-custodial software wallet
Coldcard MK4
URL: https://coldcard.com/
Software Wallet Compatible: Yes (BlueWallet, Bitcoin Core, Casa, Electrum, Unchained, and more)
Price: $157.94
Staking Rewards: N/A
Platform App: N/A
NFTs Storage: N/A
No. of Cryptocurrencies Supported: 1 (Bitcoin only)
Type of Wallet: Hardware crypto wallet
Atomic Wallet
URL: https://atomicwallet.io
Hardware Compatible: No
Price: Free
Staking Rewards: Yes
Platform App: Desktop/Mobile
NFTs Storage: Yes
No. of Cryptocurrencies Supported: 1000+
Type of Wallet: Non-custodial software wallet
Coinomi
URL: https://www.coinomi.com
Hardware Compatible: No
Price: Free
Staking Rewards: Yes
Platform App: Desktop/Mobile
NFTs Storage: N/A
No. of Cryptocurrencies Supported: 1770+ (on 125 blockchains)
Type of Wallet: Non-custodial software wallet
Quidax Wallet
URL: https://www.quidax.com
Hardware Compatible: No
Price: Free
Staking Rewards: Yes
Platform App: Desktop/Mobile
NFTs Storage: N/A
No. of Cryptocurrencies Supported: 20+
Type of Wallet: Custodial software wallet
Luno Wallet
URL: https://www.luno.com
Hardware Compatible: No
Price: Free
Staking Rewards: Yes
Platform App: Desktop/Mobile
NFTs Storage: N/A
No. of Cryptocurrencies Supported: 11+
Type of Wallet: Custodial software wallet
Ledger Wallet
URL: https://www.ledger.com
Software Compatible: Yes (Ledger Live app)
Price: $79 to $149
Staking Rewards: Yes
Platform App: Desktop/Web/Browser
NFTs Storage: Yes
No. of Cryptocurrencies Supported: 5500+
Type of Wallet: Hardware wallet
Trust Wallet
URL: https://trustwallet.com
Hardware Compatible: Yes (Ledger hardware wallet)
Price: Free
Staking Rewards: Yes
Platform App: Mobile/Web
NFTs Storage: Yes
No. of Cryptocurrencies Supported: 4.5 million
Type of Wallet: Non-custodial hot wallet
Trezor Wallet
URL: https://trezor.io/
Software Compatible: Yes (Trezor Suite)
Price: From $69 to $219
Staking Rewards: Yes
Platform App: Desktop/Mobile
NFTs Storage: Yes (via third-party wallets)
No. of Cryptocurrencies Supported: 1400+
Type of Wallet: Hardware wallet
What is a Crypto Wallet?
A crypto wallet is a program, service, device, or physical tool that stores the public keys and private keys for cryptocurrency transactions.
A Bitcoin wallet allows you to send, receive, and manage cryptocurrencies like you would fiat currencies.
How does a Crypto Wallet Work?
A crypto wallet does not hold or store a user’s digital currencies rather it holds the private keys to their assets which are kept on public blockchain networks.
To carry out transactions users must verify their address via a private key that comes in a set of codes.
Types of Crypto Wallets
There are 2 primary types of crypto wallets: custodial and non-custodial. Custodial wallets are usually hot (software) wallets on crypto exchanges while non-custodial crypto wallets can be hardware wallets or software wallets that give users complete ownership of their coins’ private keys.
How to Use Your Wallet
To use your crypto wallet you’ll need your recovery seed phrase to access it on any device as well as a PIN code.
To receive or send currencies you’ll need to access the wallet app and copy your crypto address or copy the recipient’s address to send funds to them.
How to Choose the Right Wallet?
To choose the right wallet, it is best you choose a Bitcoin wallet that suits your needs. To pick the right one, you’ll need to consider:
Hardware compatibility
Pricing if applicable
Staking availability
NFT support
Amount of cryptocurrencies supported
Ease of use
Type of wallet (custodial or non-custodial)
Final Thoughts
The above-listed crypto wallets are the best in Nigeria. But to choose the right wallet for your specific needs ensure that you use the parameters listed in the “How to Choose a Wallet Section”.
FAQ
Most frequent questions and answers
Here are some available cryptocurrency wallets in Nigeria: TrustWallet, Ledger, Trezor, Quidax wallet, and Atomic wallet.
Trust Wallet is one of the best USDT wallets in Nigeria.
Trezor is the best and safest crypto wallet for its integration with software wallets, high-grade security measures, and ease of setup.
Yes, Bitcoin wallets can work in Nigeria and Coldcard MK4 is a great option.
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