Lots of people have lost their Bitcoins simply because they chose the wrong wallet provider. So it is very important you store your bitcoins with a reputable bitcoin wallet provider. Who are the top bitcoin wallet providers in Nigeria? The popularity of bitcoin and its increased usage in Nigeria cannot be overemphasized. This so because of ease of use, anonymity and increasing value. People now prefer to store their money in bitcoin because unlike the naira bitcoin is always rising in value. Sending money abroad is now cheaper and faster because you don’t have to pay the exorbitant bank transaction fee and you don’t have to wait for days to receive your money.
Income opportunities in Bitcoin have also increase although you have to be careful not to fall into the wrong ones. I was delighted to know that I could pay my hotel bill in Abuja in Bitcoin. The Central Bank of Nigeria has come to appreciate bitcoin and Blockchain that the CBN governor wants to adopt this technology.
Several Bitcoin exchanges have also sprung up in Nigeria, those that deal with digital currencies before the invention of bitcoin have now all included bitcoin in their exchange platform making it their major exchange currency. Although they were quite devastated when some foreign companies made it cheaper.
With all this said, when you acquire bitcoins, you must keep it safe. This brings us to the bitcoin wallet. Here are the Best bitcoin wallets in Nigeria, However, have it in mind the what the safest bitcoin wallet is the Hardware wallet.
Top Bitcoin Wallet Providers in Nigeria
Jostpay is the first Bitcoin wallet provider indigenous to Nigeria. They offer two main services:
- They provide wallet for two digital currencies; Bitcoin and Perfectmoney. On withdrawal, your money is sent instantly to your naira bank account at any time or day. This is one feature that has never been seen by any Bitcoin wallet provider in Nigeria.
- API Integration; through this, you can receive payment for goods, services and donations on your website. The payment can be in Bitcoin, perfect money, Okpay and Payeer. The equivalent of this money will be sent directly and instantly to your Naira bank account.
Note: Jostpay does not sell bitcoin, they only provide you with a wallet for it and helps you convert it to naira on withdrawal.
When opening a Jostpay account and you are asked for referral ID, enter Jude-9328
Luno Bitcoin Wallet
Luno is a bitcoin wallet I use often especially in short term day to day bitcoin activity. Luno is a South African based company that have a strong presence in Nigeria. I have reviewed Luno in the past and even compared it with other bitcoin exchange platform. Luno is the fastest way to buy Bitcoin in Nigeria. They offer 3 services
- Provision of Bitcoin wallet
- Instant purchase of bitcoin. However, withdrawal takes about 24 hours on a working day for your bank account to be credited.
- Bitcoin trading
|Withdrawal:||Up to 24 hrs|
This is one to oldest hot-wallet Bitcoin wallet provider. Blockchain.info has its headquarter in Luxembourg, however, they provide free bitcoin wallet worldwide. In 2017 they also included Ethereum wallet on their website and conversion in Bitcoin to Ethereum and vice versa. You cannot buy or sell Bitcoin/Ethereum on Blockchain.info, however, you can send and receive them. The services offered include
- Provision of Bitcoin and Ethereum wallets
- Conversion of Bitcoins to Ethereum and Vice Versa
There has been an increased use in the btc.com wallet probably because of simplicity and high level of security. They have a feature that allows you to import an external wallet that is BIP44 compatible into btc.com such as wallet from Mycelium, Jaxx and Blockchain.info. They provide you wallet for two cryptocurrencies; bitcoin and bitcoin cash. Withdrawal of bitcoin to fiat money is not supported in btc.com. However, they support the purchase of bitcoin directly from btc.com for only USA residents. In summary, btc.com offers the following services
- Free Bitcoin and Bitcoin Cash wallet
- Importation of BIP44 compatible wallets
|Fees:||Very low||Bitcoin Purchase:||USA Only|
As I stated in the introductory paragraph, hardware wallets are the safest type of bitcoin wallet. Unlike other web wallets, your bitcoins are solely controlled by you. Your wallet is not online so your bitcoins cannot be stolen or hacked into. The three top bitcoin hardware wallet available in the market are:
Conclusion: Which is the best Bitcoin wallet?
There is no straight answer to this it all depends on the user’s want. Hardware wallets are best for storing bitcoin for a long period of time or for a large amount of Bitcoin since its the safest bitcoin wallet out there. Jostpay wallet allows you to instantly convert your bitcoin to naira and have it sent you directly to your bank account. If you sell goods or offer service on your website, Jostpay API also helps you to receive payments from your website in digital currencies. Luno is the easiest and fastest way to buy bitcoin, you could buy bitcoins instantly using your debit or credit card. With the Blockchain.info and btc.com wallets, you are sure to send and receive bitcoins at the lowest transaction fees possible. Armed with this information, I believe you now know the wallet best serve your need. Best of Luck.
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