9 Best Bitcoin Wallets in Nigeria
The 9 Best Bitcoin Wallets in Nigeria revealed. We tested and verified the best Bitcoin Wallets for Nigerian Traders.
This is a complete list of Bitcoin Wallets in Nigeria.
In this in-depth guide you’ll learn:
- What is a Bitcoin Wallet?
- Best free crypto wallet/ Bitcoin wallet in Nigeria?
- How to open a cryptocurrency/bitcoin account in Nigeria.
- What is a decentralized crypto wallet and which one is the best?
- What is a crypto cold storage wallet?
- Can I trade Bitcoin with $5 (2 096 NGN)?
And lots more…
So if you’re ready to go “all in” with the best-tested Bitcoin Wallets in Nigeria…
Let’s dive right in…
- Louis Schoeman
9 Best Bitcoin Wallets in Nigeria (2023)
What is a Bitcoin Wallet?
👉 Any digital wallet that stores cryptographic keys, such as a Bitcoin wallet, may be used to make Bitcoin transactions.
👉 For example, you can store your Bitcoin in a wallet, and only you or someone you trust with your private key will be able to access your Bitcoin, akin to a PIN for a web-based bank account.
👉 Using a cryptocurrency wallet allows for the safekeeping, transmission, and receipt of various tokens and currencies. Some merely allow for basic transactions, while others include more advanced capabilities like integrated access to dApps (decentralized applications) that run on the blockchain.
👉 These may, among other things, facilitate the practice of lending out one’s Bitcoin in exchange for interest payments.
1. BlueWallet
Overview
👉 The Lightning Network is supported by the BlueWallet, a Bitcoin-only wallet that does not store customer funds. It incorporates the vast majority of the newest Bitcoin features and provides a comprehensive set of usability features.
👉 Its simpler user interface is made with beginners in mind, too. About every nation has access to BlueWallet since it is one of the most ubiquitous non-custodial wallets (if the app stores permit it).
👉 As its name implies, BlueWallet serves customers all around the world. To complicate matters further, BlueWallet provides zero setup instructions. Instead, they seem to have settled on having the UI do the explaining while the user works out the kinks.
👉 The initial screen the user sees upon opening the software is unremarkable (see screenshot below) and provides only a few instructions.
👉 BlueWallet now features HodlHodl inside the app. HodlHodl is a decentralized Bitcoin exchange that uses multi-signature wallets to eliminate third-party involvement in the transaction process.
👉 HodlHodl’s decentralized nature means it may be utilized everywhere there is a buyer or seller, making it ideal for international trade.
👉 Protecting your anonymity is another perk of using HodlHodl. Certain vendors do not need your KYC details or minimal personal data to conduct a transaction.
Features
➡️ BlueWallet offers multilingual support in 20 languages.
➡️ Fiat currencies include USD, AUD, BRL, CAD, CHF, CZK, CNY, EUR, GDP, HRK, INR, JPY, MXN, MYR, and RUB.
➡️ Traders receive 24 recovery seed words when they sign up.
➡️ BlueWallet is a Bitcoin-only wallet available on mobile and desktop.
➡️ There is no verification process.
➡️ BlueWallet is integrated with MoonPay to allow traders to buy Bitcoin easily using a credit card.
➡️ BlueWallet offers HodlHodl, a peer-to-peer Bitcoin exchange.
➡️ The app has a “Watch-Only” mode where traders can view their current balance without importing the private key.
➡️ The wallet has SegWit support.
➡️ BlueWallet supports bulk transactions that can easily be executed through the mobile or desktop.
Pros and Cons
| ✔️ Pros | ❌ Cons |
| BlueWallet offers support for the Lightning Network | The onboarding process lacks clear guidance |
| The onboarding process lacks clear guidance | The UX can be confusing for beginners |
| The wallet is offered on desktop and mobile | |
| The wallet incorporates several advanced security features | |
| There are customizable transaction fees | |
| BlueWallet supports biometrics and encryption as additional security features |
2. Trust Wallet
Overview
👉 Trust Wallet is a cryptocurrency hot wallet that does not function as a custodian. One of the finest cryptocurrency wallets, it provides maximum security, can be used without cost, and supports various blockchains and digital currencies.
👉 Binance now uses Trust Wallet as its official decentralized wallet as of 2018. The reputation of cryptocurrency wallets as complicated is undeserved, yet anybody may use Trust Wallet.
👉 The wallet’s straightforward layout and labelling make it easy to transfer and receive cryptocurrency and utilize the other functions. You will not have to worry about any hidden costs when using Trust Wallet. It is open source, so you may get it and use it for safekeeping at no cost.
👉 You will only have to pay your coin’s transaction fees set by the blockchain network. This is because trust Wallet does not take a cut of the transaction cost; rather, it is the blockchain network itself that charges the price.
👉 While other cryptocurrency wallets are solely meant for sending and receiving, the Trust Wallet software allows you to purchase and sell. Ramp processes transactions using cryptocurrency in Trust Wallet.
Features
➡️ Trust Wallet is a mobile-based, non-custodial cryptocurrency wallet that supports over one million distinct coins across blockchains.
➡️ Trust Wallet app Nigerians can purchase cryptocurrencies, transfer and receive coins, and purchase and sell NFTs.
➡️ It may be difficult to utilize Trust Wallet with NFT markets and decentralized exchanges since it functions on cellphones.
➡️ As a decentralized wallet, customer care is confined to technical difficulties; consumers cannot get assistance retrieving secret words or PINs to regain access to their cash.
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Trust Wallet supports Bitcoin and many other altcoins | Nigerians cannot recover lost accounts through customer support |
| The setup is convenient, and Trust Wallet is easy to use on mobile | The wallet is vulnerable to engineering and phishing attacks |
| Nigerians can easily buy and sell crypto directly in their wallet | There is limited utilization with web-based dApps |
3. TREZOR Model T
Overview
👉 The TREZOR Model T is Satoshi Labs’ most recent hardware wallet. Unlike its predecessor, the TREZOR One, the TREZOR Model T has a touchscreen and no physical buttons.
👉 The TREZOR Model T is secure and one of the safest Bitcoin storage methods. As a hardware wallet, it stores your cryptocurrency’s private keys in cold storage. Furthermore, cold storage is protected from hackers and other cyber threats.
👉 When configuring a TREZOR Model T, you generate a PIN code of up to nine numbers. The wallet can only be accessed by inputting the PIN code, and the device deletes all data after 16 unsuccessful tries.
👉 Therefore, assuming you safeguard your PIN code, the likelihood of someone using your TREZOR wallet is almost zero.
👉 Everything entered on the TREZOR Model T is done directly on the device. Therefore, you would be secure even if you linked it to a computer with a keylogger.
👉 The only expense associated with the TREZOR Model T is the $215 purchasing price. TREZOR does not charge any wallet fee for holding or transferring digital assets.
Features
➡️ The TREZOR Model T is the next-generation cryptocurrency hardware wallet from TREZOR.
➡️ A large colour display provides room for a great deal of data and effortless operation.
➡️ There is support for over a thousand cryptocurrencies, including Bitcoin and Ethereum.
➡️ The hardware wallet has been examined by security experts and is open source in its entirety.
➡️ TREZOR Model T can manage your full digital identity, including passwords, SSH access, and U2F.
➡️ TREZOR devices are compatible with all major operating systems, including Windows, Mac OS X, and Linux. However, besides supporting Android mobile devices, they do not support Apple mobile devices.
➡️ Those who own non-fungible tokens may secure them using a TREZOR Model T.
➡️ The TREZOR Model T has a microSD card slot that may be used as an extra security feature.
Pros and Cons
| ✔️ Pros | ❌ Cons |
| TREZOR is well-known for its robust security of crypto funds | The wallet has an expensive price tag |
| There is an intuitive touchscreen display | There is currently no support for iOS devices |
| The wallet supports an enormous range of cryptocurrencies | The hardware wallet does not have the same convenience as software wallets |
| TREZOR offers Digital identity and password management to Nigerians | |
| Nigerians can store their NFTs on TREZOR |
4. Exodus
Overview
👉 Exodus Movement INC. was founded in 2015 by JP Richardson and Daniel Castagnoli to store digital currency safely. The multi-currency wallet supports over one hundred different cryptocurrencies.
👉 Initially accessible solely as a desktop application, the Exodus mobile app is available for Android and iOS. Additionally, Exodus offers over 150 different currencies over seven distinct blockchains.
👉 On Exodus’ internal currency exchange, Nigerians can buy, sell, and swap currencies. In addition, the relationship between Exodus and FTX enables Nigerians to access the exchange directly from the Exodus app, easing the transfer of assets between the two.
👉 Exodus has also just incorporated the Lightning Network as a payment method, as discovered by Nigerians. The Lightning Network is a payment method that operates independently of the Bitcoin network.
👉 Consequently, Exodus Nigerians who use this option will experience quicker and cheaper Bitcoin (BTC) transactions. However, Exodus lacks access to your assets and secret keys.
👉 Due to the wallet’s non-custodial architecture, all storage and encryption occur on the user’s hard drive and not on the Exodus platform.
👉 After downloading the platform, individuals access their accounts using a password. Then, if a user needs to restore their account, a 12-word recovery phrase will be shown to them.
👉 Exodus has teamed up with TREZOR to offer customers can manage their assets via the TREZOR hardware wallet if they want offline asset security. With the Exodus-connected hardware wallet, Nigerians may send, receive, and trade assets while keeping their private keys and assets offline.
Features
➡️ Exodus is the greatest digital currency wallet program for beginners.
➡️ On the Exodus platform, investors can probably choose from a vast selection of digital assets.
➡️ Even though Exodus does not support two-factor authentication (2FA), Nigerians can communicate with TREZOR hardware wallets.
➡️ Exodus is entirely non-custodial, so that Nigerians will keep full control of their assets.
Pros and Cons
| ✔️ Pros | ❌ Cons |
| The Exodus user interface is intuitive and simple to use and should seem such to many users | Currently, transaction fees can only be customized for Bitcoin and Ethereum |
| Currently, Exodus wallet supports over 150 cryptocurrencies for trade, and the number continues to expand | Exodus software wallets are readily compromised, and most users could lose their crypto funds if their device is infected with keyloggers or malware |
| Exodus enables simple integration with Defi systems | It lacks essential security features like as multi-signature support and two-factor authentication |
| Exodus’s customer service is not simply knowledgeable but also responsive | It does not support transactions from crypto to fiat |
| Integrating Exodus with ShapeShift makes transactions anonymous and simple |
5. Coinbase Wallet
Overview
👉 Coinbase Wallet is a free digital wallet that supports many cryptocurrencies and includes a browser for decentralized applications. In addition, you may link your Coinbase account straight to this wallet if you have one, making it a handy place to keep your cryptocurrency.
👉 The Coinbase wallet has become one of the world’s most popular Bitcoin wallets. The extensive usage of Coinbase Consumer, a decentralized Bitcoin exchange, contributes significantly to the popularity of Coinbase wallet.
👉 In 2021, Coinbase became one of the world’s major cryptocurrency exchanges. And the bulk of investors uses the Coinbase Consumer exchange to purchase Bitcoin. As a result, this online platform is more well-known than any other cryptocurrency trading business.
👉 The Coinbase wallet is one of the world’s most secure Bitcoin wallets. Investors and crypto enthusiasts feel secure saving their digital assets on this wallet due to its integration with the Coinbase trading platform.
👉 The Coinbase wallet is a digital wallet that stores cryptocurrency using hot storage. This indicates that the Coinbase wallet is a hot cryptocurrency wallet.
Features
➡️ The Coinbase Wallet makes it simple for anybody to keep Bitcoin securely.
➡️ This cryptocurrency wallet is available for free download and usage, regardless of whether you are a Coinbase member. In addition, it does not charge for the storage of digital assets.
➡️ In the wallet settings, you may connect your Coinbase account to Coinbase Wallet.
➡️ Coinbase Wallet supports various cryptocurrencies, including all ERC-20 tokens and EVM-compatible blockchain tokens.
➡️ The Coinbase Wallet supports non-fungible tokens (NFTs) in addition to Bitcoin.
➡️ The wallet has a browser for decentralized applications (dApps).
➡️ The Coinbase Wallet plugin for the Chrome web browser supports Ledger hardware wallets.
Pros and Cons
| ✔️ Pros | ❌ Cons |
| The organization has sufficient funds to recover lost or stolen digital assets | The wallet could function as a hosted wallet that stores private keys elsewhere, which could put traders at risk |
| Two-factor authentication is used to safeguard user access. Currently, the wallet does not support Bitcoin storing | |
| For all users, the wallet provides multi-signature access | |
| Coinbase, a respected cryptocurrency exchange, supports the wallet | |
| The wallet provides extensive features for enabling access to digital financial instruments such as NFTs |
6. Leger Nano S
Overview
👉 Using a secure chip and a custom operating system, the Ledger Nano S hardware Bitcoin wallet offers a high degree of security. In addition, it gives investors authority over their private keys and is backed by the industry’s most recognizable brand.
👉 Investors can store more than 1,100 coins and tokens on the Ledger Nano S, with Ledger natively supporting 23 cryptocurrencies and third-party apps supporting the others. On the Ledger website, the Ledger Nano S hardware wallet is available for $59.
👉 Security is the primary reason people choose Ledger wallets. The Secure Element (SE) chips in Nanodevices are Common Criteria (CC) EAL5+ certified, making them tamper resistant. In addition, your private keys are stored securely on the chip.
👉 Moreover, Ledger is the first hardware wallet manufacturer that uses Secure Element chips and Blockchain Open Ledger Operating System (BOLOS) as its proprietary operating system (OS).
👉 The French National Agency for the Security of Information Systems (ANSSI) conducts an impartial review of ledger devices. There are extra security precautions at the user level.
Features
➡️ Hardware wallets like the Ledger Nano S employ cold storage to protect cryptocurrency without having to give up control of the wallet’s private keys.
➡️ The most critical characteristic of a blockchain wallet is security, and Ledger excels in this regard. With the Ledger Nano S, your cryptocurrency’s private keys are stored in cold, offline storage.
➡️ The Ledger Nano S is among the least expensive hardware wallets.
➡️ It is most convenient when all digital currencies can be stored in a specific location.
➡️ The Ledger Nano S supports NFTs, letting you store your NFTs alongside your cryptocurrencies.
➡️ Ledger wallets are compatible with Ledger Live. In addition, the software contains several capabilities for managing your cryptocurrency, including receiving cryptocurrency, moving it to another wallet, and staking cryptocurrency to receive incentives.
Pros and Cons
| ✔️ Pros | ❌ Cons |
| At $59, the Ledger Nano S is less costly than a few other hardware wallets, making it an excellent low-cost, highly secure alternative | The device is extremely small and can be easily lost |
| In contrast to hot wallets provided by Bitcoin exchanges, Nano S users control their private keys | The Ledger Nano S lacks Bluetooth |
| In contrast to hot wallets provided by Bitcoin exchanges, Nano S users control their private keys | The Ledger Nano S lacks Bluetooth |
| On the Ledger Nano S, investors may store both famous and lesser-known currencies and tokens | The Nano S only contains up to six applications, depending on their size, and most cryptocurrencies need a crypto application |
7. Ledger Nano X
Overview
👉 Ledger was founded in France in 2014, making it a veteran of the cryptocurrency industry. Its founders come from diverse disciplines, including engineering, internet security, and cryptocurrency. They were inspired by the notion of ‘developing safe solutions for blockchain applications.’
👉 Today, the firm employs over 300 individuals. It operates out of Paris, Vierzon, central France, New York, Zurich, and Singapore.
👉 As their ease of use is one of their greatest assets, hardware wallets need appropriate software to perform the bulk of their tasks.
👉 In this regard, ledger devices depend on Ledger Live, and it is worthwhile to examine its proprietary software in further detail.
👉 The application supports more than 5,500 currencies and tokens. In addition, Ledger allows staking for popular Proof-of-Stake assets.
👉 Cryptocurrencies may be transmitted, received, and swapped. This latter feature is a convenient method to generate interest in your cryptocurrency by putting your coins to work, verifying network transactions, and building new blocks.
Features
➡️ The Nano X is compact and lightweight, weighing just 34 grams, making it unobtrusive and practical.
➡️ The biggest benefit of the Nano X over its predecessor is its Bluetooth connection, which enables it to be controlled from a mobile device.
➡️ The Nano X also boasts a bigger built-in screen. Although the Nano S could only contain three to five wallet applications, the Nano X has space for one hundred.
➡️ The Nano X utilizes the BOLOS operating system from Ledger and features two distinct chips.
➡️ There is also a cool additional feature known as a secret wallet, which enables the configuration of many wallet interfaces on the device.
➡️ The Ledger employs a Certified Secure Element (CC EAL5+), the highest quality in the industry.
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Ledger Nano X can be managed from a mobile device through Bluetooth | The device has a hefty price tag |
| The device is extremely secure | |
| Nano X supports a wide range of cryptocurrencies | |
| The design is flawless and comfortable |
8. Mycelium
Overview
👉 Mycelium, one of the first cryptocurrency wallets, was introduced in 2008. It is a mobile wallet that offers numerous account kinds, including Hierarchical Deterministic (HD), Single Address, Watch Only, Bit ID, and Hardware accounts.
👉 Mycelium wallet is a trustworthy platform for transferring, storing, and exchanging Bitcoin. In addition, the open-source nature of the wallet facilitates quick access to the BTC network.
👉 The Mycelium team’s hardware engineers have built a straightforward user interface that facilitates moving between accounts, adding multiple payment addresses, seeing transaction history, and enjoying various additional features.
👉 Mycelium wallet utilizes the Simplified Payment Verification (SPV) technology, which enables users to download the whole blockchain. In addition, this platform’s cold storage feature is unmatched, enabling users to protect their cash until they are ready to spend or transfer their Bitcoin.
Features
➡️ Mycelium is a simple Bitcoin-centric wallet that places a major emphasis on the security of deposited funds. Mycelium is compatible with Bitcoin, Ethereum, and several ERC-20 tokens. Additionally, users may send, receive, and trade inside the app.
➡️ Android users have access to Mycelium’s Local Trader function, which enables users to purchase and trade Bitcoin with other nearby users.
➡️ Due to its non-custodial architecture, Mycelium cannot access user money or private keys.
➡️ Mycelium also supports interaction with hardware wallets like TREZOR and Ledger and cold storage (paper wallets).
➡️ Mycelium places a premium on user privacy and anonymity. As a result, users are never asked to provide personal information or through a Know Your Client (KYC) procedure.
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Mycelium is a repeatable application whose source code may be examined for security issues | Mycelium, on the other hand, exclusively accepts Bitcoin, Ethereum, and a limited number of ERC-20 tokens, including Tether USD and USD Coin |
| Mycelium facilitates the transfer of cryptocurrencies to reputable hardware wallets for individuals desiring offline storage | Local Trader is offered only to Android users. iPhone users will be unable to access this function |
| Mycelium is one of the oldest Bitcoin wallets currently available | Mycelium users lack desktop access, putting them at a disadvantage compared to wallets that provide both desktop and mobile versions |
| Within the app, Mycelium enables a decentralized exchange | Mycelium’s website has less information than its rivals |
| Users seeking customer help have just the option of sending an email |
9. Electrum
Overview
👉 Established in 2011, Electrum is one of the market’s most popular Bitcoin wallets available for free. It is a simple, secure, lightweight Bitcoin wallet for safe storage.
👉 Electrum utilizes blockchain indices, meaning users do not need to download big, increasing blockchain files to their computers.
👉 As a result, the Electrum wallet is a straightforward and user-friendly BTC wallet, and it is presently one of the oldest Bitcoin wallets on the market.
👉 It supports no other cryptocurrencies save Bitcoin. Numerous engineers have contributed to Electrum’s source code in recent years, making it the most reliable cryptocurrency wallet currently accessible.
👉 Even if new cryptocurrencies are being introduced daily, Electrum’s primary emphasis is Bitcoin, which guarantees that the network operates smoothly and quickly. In addition, Electrum integrates with prominent hardware wallets like KeepKey, TREZOR Model T, and Ledger Nano S.
Features
➡️ Electrum is a desktop wallet compatible with the Mac, Windows, and Linux operating systems. Electrum wallets are available for free download from the official website.
➡️ The Electrum wallet is straightforward and compatible with various hardware wallets.
➡️ Electrum utilizes its servers to gather data, conserving a great deal of RAM.
➡️ Python is used to construct the Electrum wallet, which results in shorter and simpler programs. Offline, the network can validate messages and sign transactions, while Electrum can import and export private keys.
Pros and Cons
| ✔️ Pros | ❌ Cons |
| The platform is user-friendly, and setup is easy | The platform is not ideal for beginners |
| Traders widely use the wallet and platform from around the world | The platform only supports Bitcoin |
| There are robust privacy features | |
| The platform offers integration with a hardware wallet |
What should Nigerians Consider when they Choose a Bitcoin Wallet?
👉 Increasing numbers of individuals are investing in cryptocurrencies to profit from the burgeoning business. However, before purchasing cryptocurrencies, getting a safe and trustworthy crypto wallet to store your tokens is crucial.
👉 Countless solutions are accessible, but they vary in usefulness, usability, security, and compatibility.
👉 Depending on your bitcoin investing objectives, you may not need certain functionalities. However, you must examine a few key things before picking a Bitcoin wallet.
Security Features
👉 Security is an essential component of any cryptocurrency wallet. Since all transactions occur online, thieves will attempt to hack the wallet. Therefore, even though blockchain technology is highly secure, you must verify that your wallet has top-tier security measures.
👉 Ideal crypto wallets should have a two-factor authentication function to guarantee that only you have access to the wallet.
👉 You should also seek a wallet that enables authentication alerts. Then, each time you attempt to access the wallet, you get an email or text message with details about the login attempt.
User Experience
👉 Suppose you do not grasp the fundamental aspects of your wallet, such as how to withdraw. In that case, you will have difficulty navigating the app and maximizing its use.
👉 Regardless of your familiarity with cryptocurrencies, you must have a wallet with an exceptional user experience. This minimizes unneeded difficulties while using the functionalities of the wallet.
Back-up options and Recovery Features
👉 When selecting a crypto wallet, it is crucial to consider what would happen if you lost your device or forgot your login credentials.
👉 It is preferable to use a solution with dependable back-up and recovery options to guarantee that you can recover your wallet fast if you lose your credentials.
👉 In addition, ensure that the back-up method is straightforward to prevent complications during recovery.
Compatibility and Adaptability
👉 A quality cryptocurrency wallet should be interoperable with several platforms, including Android, iOS, Linux, and Windows. This secures the functionality of your wallet regardless of the device you are using.
👉 Some crypto wallets only support a single coin despite their superior technology. This may be a wonderful feature since these wallets often have unique features and integrations for the individual cryptocurrency. As your crypto expertise grows, you will acquire various coins.
👉 You could opt to store your money in several wallets but managing them from many locations might be cumbersome. To ease the procedure, exploring a solution that allows numerous coins may be useful.
Exchange Integration
👉 Some cryptocurrency wallets have a useful feature known as cryptocurrency exchange integration, which enables the wallet to be linked to a decentralized exchange and other DApps. Connecting your wallet to these sites enables a frictionless transfer of payments.
👉 Most importantly, you can easily trade, purchase, and stake cryptocurrencies. It is advisable to check if a wallet provides DEX or DApp integration and platform integration.
The Best Bitcoin Brokers in Nigeria
👉 In this article, we have listed the best brokers that offer trading solutions and opportunities to traders in Nigeria. We have further identified the brokers that offer additional services and solutions to Nigerian traders.
Best MetaTrader 4 / MT4 Broker in Nigeria
Overall Rating
- 4.8/5
Total Pairs
66
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, Axi is the best MT4 Broker in Nigeria. More than 130 different items from Axi are available for trading on MetaTrader 4. Axi offers some of the greatest trading conditions to Nigerian traders, including minimal opening spreads on all account types.
Best MetaTrader 5 / MT5 Broker in Nigeria
Overall Rating
- 4.7/5
Total Pairs
32
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, RoboForex is the best MetaTrader 5 broker in Nigeria. RoboForex provides traders with a selection of 12,000 tradable instruments that may be traded on MetaTrader 5 in addition to a few more potent trading platforms.
Best Broker for beginners in Nigeria
Overall Rating
- 4.9/5
Min Deposit
USD 100 / 41450 NGN
Regulators
ASIC, FSA
Trading Desk
MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central
Crypto
Yes
Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, AvaTrade is the best Broker for beginners in Nigeria. For new traders in Nigeria, AvaTrade provides some of the greatest teaching resources. Along with webinars, seminars, and other events, there are several manuals and videos.
Best Low Minimum Deposit Broker in Nigeria
Overall Rating
- 4.8/5
Total Pairs
50+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, HF Markets is the best Low Minimum Deposit Broker in Nigeria. With a minimum investment of 2,000 Naira, HF Markets provides live trading accounts to Nigerian traders.
👉 Popular MetaTrader cryptocurrency broker HF Markets also has an in-house trading app for iOS and Android users.
Best ECN Broker in Nigeria
Overall Rating
- 4.1/5
Min Deposit
USD 10 / 4145 NGN
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Trading Desk
MetaTrader 4, MetaTrader 5, cTrader and TradingView
Crypto
No
Total Pairs
60+
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Trading margined products carries a high level of risk. Pepperstone Markets Kenya Limited, CMA Licence No. 128
👉 Overall, Pepperstone is the best ECN Broker in Nigeria. One of the biggest forex and CFD brokers in the world, Pepperstone provides services in more than 170 nations.
👉 Nigerian traders should anticipate among of the quickest transaction execution times with little to no slippage and no requotes.
Best Islamic / Swap-Free Broker in Nigeria
Overall Rating
- 4.9/5
Min Deposit
USD 0 / 0 NGN
Regulators
ASIC, BVI, CFTC, FCA, FFAJ, FSC, IIROC, MAS, NFA
Trading Desk
Metatrader 4 and Metatrader 5
Crypto
Yes
Total Pairs
45
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, OANDA is the best Islamic / Swap-Free Broker in Nigeria. Three different retail accounts are available from OANDA. This includes a specific Islamic account that is provided to Muslim traders in Nigeria who adhere to Sharia law.
Best Trading App in Nigeria
Overall Rating
- 4.7/5
Min Deposit
USD 1 (415 NGN)
Regulators
IFSC, FSCA (south africa), ASIC, CySEC
Trading Desk
MetaTrader 4, MetaTrader 5, FBS Trader – all in one mobile trading platform.
Crypto
Yes
Total Pairs
250
Islamic Account
Yes
Trading Fees
Low
Welcome Bonus
$140 (58 116 NGNFind out More)
Account Activation Time
Instant
👉 Overall, FBS is the best trading app in Nigeria. FBS provides its cryptocurrency account through the FBS Trader. Many features and some of the greatest market analyses are available to Nigerians.
Best Nigerian Naira Trading Account Broker in Nigeria
Overall Rating
- 4.9/5
Min Deposit
USD 10 / 4145 NGN
Regulators
CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA
Trading Desk
MT4, MT5, MT4 WebTerminal, mobile (iOS & Android, Exness Trader)
Crypto
Yes
Total Pairs
97
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, Exness is the best Nigerian Naira trading account Broker in Nigeria. One of the top multi-currency brokers that provide accounts in NGN is Exness. Exness is a broker that only works with MetaTrader and has a limited selection of trading options.
Best Lowest Spread Broker in Nigeria
Overall Rating
- 4.7/5
Min Deposit
USD 200 / 82900 NGN
Regulators
ASIC
Trading Desk
Metatrader 4
Crypto
Yes
Total Pairs
65
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, IC Markets is the best lowest spread Broker in Nigeria. IC Markets provides some of the narrowest spreads in the market because of its pure ECN execution mechanism.
👉 Nigerian traders can choose from a variety of crypto CFDs at IC Markets, which offers services to traders all over the world.
Best NDD Broker in Nigeria
Overall Rating
- 4.5/5
Min Deposit
USD 5 / 2 075 NGN
Regulators
IFSC, CySec, ASIC
Trading Desk
Desktop MT4 and MT5, Mobile MT4 and MT5, XM mobile app, Web platform
Crypto
No
Total Pairs
57
Islamic Account
Yes
Trading Fees
No (Just spread)
Account Activation Time
24 Hours
👉 Overall, XM is the best NDD Broker in Nigeria. XM is a well-known No-Dealing Desk broker that offers services to over 2.5 million traders worldwide. A portion of XM’s broad selection of more than 1,000 financial products includes cryptocurrency CFDs.
Best STP Broker in Nigeria
Overall Rating
- 4.7/5
Min Deposit
USD 100 / 41450 NGN
Regulators
CySEC, FCA, FSA, FSCA, Labuan FSA
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, Tickmill is the best STP Broker in Nigeria. One of the finest brokers for new traders in Nigeria is Tickmill, which provides outstanding STP and ECN execution along with clear trading costs.
Best Sign-up Bonus Broker in Nigeria
Overall Rating
- 4.5/5
Min Deposit
USD 1 / 415 NGN
Regulators
IFSC
Trading Desk
Metatrader 4
Crypto
Yes
Total Pairs
300
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, SuperForex is the best sign-up bonus Broker in Nigeria. One of the brokers with the broadest selection of promos and incentives is SuperForex, which provides customers with a choice of 11 trading accounts.
Conclusion
👉 While searching for the optimal Bitcoin wallet, you have a variety of Bitcoin wallets to select from, including a piece of paper with your public and private keys written on it.
👉 Whether you want an easy-to-use web wallet or a highly secure hardware wallet, there is a suitable solution for your cryptocurrency storage requirements.
FAQ
How can I secure my Bitcoin wallet in Nigeria?
To secure a Bitcoin wallet in Nigeria, it is important to use strong passwords and two-factor authentication, keep the wallet software up to date, and regularly backup the wallet. It is also recommended to store large amounts of BTC in a hardware wallet for the highest level of security.
What are the different types of Bitcoin wallets available in Nigeria?
Bitcoin wallets in Nigeria can be classified into several types, including software wallets, hardware wallets, and paper wallets. Each type offers its own unique features and level of security. Examples of Bitcoin Wallets available in Nigeria are BlueWallet, Trust Wallet and TREXOR Model T.
How do I send and receive BTC with a Bitcoin wallet in Nigeria?
To send and receive BTC with a Bitcoin wallet in Nigeria, users need to have a Bitcoin address and private key. To send BTC, users need to enter the recipient’s address and the amount to be sent, and then confirm the transaction. To receive BTC, users need to provide their Bitcoin address to the sender.
Is it safe to store BTC in a Bitcoin wallet in Nigeria?
The safety of storing BTC in a Bitcoin wallet in Nigeria depends on several factors, including the security measures implemented by the wallet provider and the user’s own security practices. It is recommended to store BTC in a hardware wallet for the highest level of security.
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