11-07-2019

What is the Best Bitcoin Wallet in Nigeria? – Three Top Choices

By Bitcoin Nigeria

If you are about to buy Bitcoin in Nigeria, it is imperative that you learn how to store coins safely. The best Bitcoin wallet in Nigeria for you will depend on your specific investment strategy. Here, we’ll look at three top choices to consider using.

What is the Best Bitcoin Wallet in Nigeria?

Before we look at our top picks of Nigeria’s best Bitcoin wallets, it is important to note that our choices are not paid wallet promotions.

Searching for ‘what is the best Bitcoin wallet in Nigeria,’ often results in blog posts promoting wallets made available by Paxful and Coinbase. These, though, are not good wallet options.

Never Use International Exchange Wallets to Store Bitcoins

People who regularly buy and trade Bitcoin never store coins in wallets made available by exchanges. There are several reasons for this:

• Bitcoin exchanges are prone to hacking attempts.
• Exchanges like Paxful have a history of suddenly banning Nigerian users. (Often, they confiscate user funds in the process).
• Exchange wallets like those made available by Coinbase and Paxful, don’t put users in control of their coin private keys.

Sadly, major international exchanges pay popular cryptocurrency bloggers to promote their wallets. This is why many appear so prominently in Google searches.

What is the Real Best Bitcoin Wallet in Nigeria? 

There are hundreds of cryptocurrency wallets on the market. When it comes to mobile app wallets, though, we believe that there are only three that most Nigerians should consider using.

Beadwallet (BRD)

Breadwallet originally came to the market in 2015. At the time, Beadwallet fast became the go-to wallet of choice for people new to cryptocurrency. This is thanks to the fact that Breadwallet is super simple to set up and start using.

• Breadwallet is available on IOS and Android mobile devices.
• At present, Breadwallet only offers coin storage support for Bitcoin, Ethereum, Bitcoin Cash, and Ethereum ERC-20 tokens.
• Breadwallet is highly secure. It encrypts mobile device coin storage areas, is easy to backup, and adds security using facial recognition.

Because Breadwallet security has never been compromised, Breadwallet is a fantastic option for Nigerians looking to store Bitcoin long-term. 

Sadly, Breadwallet is not ideal for traders and investors who plan to store a lot of different digital assets.

Coinomi

Coinomi is an app wallet that first came to the market in 2014. Like Breadwallet, Coinomi makes it easy to store Bitcoin. However, Coinomi also surpasses Breadwallet in many ways in terms of core functionality.

• With Coinomi, it is possible to store Bitcoin and hundreds of different altcoins.
• Coinomi allows users to exchange cryptocurrency coins in-app via Shapeshift and Changelly.
• Recently, Coinomi was successful in launching a desktop version of its app for PC and Mac users.

Coinomi supports Bitcoin and several other altcoins. Because of this, Coinomi is a better option for Nigerians looking to diversify their digital asset portfolio. It is worth noting, though, that Coinomi lacks some of the security features of Beadwallet.

Exodus

Exodus is a popular desktop PC Bitcoin wallet that came to the market in 2015. There is now a mobile app version of Exodus. However, syncing the two wallets can be challenging. Otherwise, though, Exodus is very similar to Coinomi.

• Users can use Exodus to store hundreds of different digital assets.
• Exodus features built-in exchange support from Shapeshift.
• The Exodus wallet app is highly secure and very easy to start using.

Many people who use Exodus fall in love with the ease of use of the wallet. Supporting hundreds of altcoins also makes Exodus ideal for traders and investors with large coin portfolios.

At NairaEx.com, we believe that Exodus is the best Bitcoin wallet in Nigeria for new and experienced investors alike. In every case, though, traders and investors will still have to learn how to use and backup wallets safely.