Last updated on August 6th, 2023 at 07:18 am
At a time when everyone is excited about the price of cryptocurrency, one of the best ways to protect your asset is to choose wisely Bitcoin wallet providers that make the security of their users a priority.
In this post, we’ll tell you the most secure crypto wallet providers in Nigeria and share with you some of the things that make them the best.
During the cryptocurrency boom between 2016-2017, many crypto traders sprang up, while some of them provide wallets, we have some focusing on bitcoin exchange services.
Table of Contents
While you’re ready to take the plunge into cryptocurrency trading in Nigeria, in this post we’ll give you the list of the most secured BTC wallet providers in Nigeria.
Good part…Some of them will give you 3-in-1 cryptocurrency wallets: bitcoin, litecoin and ethereum, which makes sending and receiving money easier.
Here is the list of:
Most Secured Bitcoin Wallet Providers in Nigeria
- Buycoins.africa (formerly Bitkoin.africa)
I had set up my bitcoin wallet with another foreign firm before I stumbled upon a Nigerian cryptocurrency firm called jostpay.com.
It can simply be called Nigeria’s No. 1 reliable bitcoin wallet provider for Nigerians and anyone around the world.
The features I found on this platform beat most of the foreign firms that provide the same services in cryptocurrency world.
Available coins on jostpay:
Jostpay Account set-up
Account set up on jostpay is simple but a bit technical as it requires lots verifications. This is understandable for a company that has numerous features in a country where online fraudsters are rampant.
But with the security features put in place by jostpay, it’ll be extremely difficult for an outsider to hack any account with this platform.
Security Level: I’m giving jostpay.com 5stars. This platform is the most secured digital platform right now in Nigeria with following security pass verification:
- Email Authentication
- 2 Factor Authentication
- SMS Authentication
- Transfer pin code?
Guideline for Verification
Below are the list of steps required and the information you may be required to provide. Any personal information you provide is treated as confidential.
Email Verification: Your valid Email address will be needed for verification
Bank Verification: Your personal and active NUBAN (10 digit) bank account number with the name of the bank is required
Drivers’ License Verification: Your license number and date of birth is required
Photo Capture: You will be required to take your face ID
ID Capture: Your personal and valid ID card is required for photo capture
Jostpay is simply a bank in your hand!
How to Create a bitcoin wallet on jostpay
Step 1: Enter www.jostpay.com in any browser of your choice, preferably Google Chrome, or Mozilla Firefox
Step 2: Enter your first name, last name, email address, select your country, and your phone number
Step 3: Enter your jostpay referral ID (optional)
Step 4: Create an account, and verify your email address.
Step 5: From there, proceed to verify your identity.
Jostpay is one of our most Secured Bitcoin Wallet Providers in Nigeria because of its strong security features.
Paxful is my number two Bitcoin exchange in Nigeria. This company operates in other parts of the world. Paxful specifically caught my attention because it’s an all-in-one cryptocurrency platform.
Apart from the fact it’s a trading platform for digital coins, paxful also has a feature where you can send money to anyone, anywhere in the world.
With paxful, you might not need a third party to make a transaction for you. It’s a great P2P platform you can use after the CBN banned banks from processing crypto-related transactions.
Some of the features of paxful.com include:
Bitcoin Wallet: Yes. You can get your own bitcoin wallet on paxful for you to store your btc, or from which you can send payment any time.
Buy and sell feature: On this platform, you can buy and sell bitcoin without going outside the website. You also create an offer in case you have some bitcoins to sell.
Security level: The secure Escrow feature is available on paxful, making it a safe P2P trading platform for anyone anywhere around the world.
There is also more flexible ways to make payment, and send money from Nigeria to any part of the world with different deposit methods with an estimated receiving time of 30 minutes.
Apart from the fact Bitcoin wallet sign up on paxful is very easy and simple, yet is one of the most secured bitcoin wallet providers in Nigeria because of its secure environment.
One of the most secure bitcoin wallet providers in Nigeria. What I love about luno is the fact that you can generate your own bitcoin wallet address on luno.com and start funding it.
You can generate a different wallet address for different transactions, which is mostly a secure way to trade in cryptocurrency.
Security level: High, you can set up two-factor authentication to make your account more secure.
Remitano.com is another Bitcoin platform that makes digital coin investing simple and easy for everyone. You don’t need to a computer savvy to use this platform.
It is not only available in Nigeria, but in some other countries like the United States, Australia, Malaysia, Vietnam, Cambodia, and China.
Benefits of remitano include the following:
BTC Wallet: Yes. You can get your own BTC wallet address on remitano.
Trading: Ability to buy and sell bitcoin right on the platform
Security level: High. A login link is sent to your email address any time you are trying to login into your account, and when your session expires, the login link expires in 15 minutes
You can also set up two-way authentication to secure your account from hackers. Trades on remitano is also faster and customer support is always ready to assist whenever a user initiates a trade (buyer and seller)
Formerly known as Bitcoin.africa, Buycoins.africa has moved from just being a cryptocurrency platform where you can get a secured bitcoin wallet to a platform that allows its users to have access to other assets like Tesla, Google, Apple and Amazon among other stocks.
What I love About BuyCoins Africa
First, BuyCoins Africa platform also exposes Africans to the world of investment opportunities to global stocks.
Second, the platform is founded by a group of vibrant, and highly cerebral young Nigerians: Tomiwa Lasebikan, a former Microsoft engineer who has invented and created several apps in the U.S.A as an undergraduate and after graduation; Ire Aderinokun, a Google developer expert and the daughter of Olutayo Aderinokun (the former CEO and co-founder of Guaranty Trust Bank); and Timi Ajiboye who has co-founded other notable projects that revolve around liberating young Africans from financial bondage
LocalBitcoins.com can simply be called a cryptocurrency market for bitcoin with a long list of buyers and sellers to choose from.
One of the things that make LocalBitcoins unique is the fact that the number of bitcoin sellers is willing to sell is segmented, which makes it simpler for buyers to know who to buy from.
For instance seller A selling range could be N10,000 to N50,000, while seller B selling range could be N100,000-N500,000 etc. Irrespective of how small the quantity of BTC portion you want to buy you’ll always find a buyer that will serve your need.
Buyers are also given the privilege to rate sellers. A high rating means more trading opportunities to sellers. A seller with a good rating stands a better trading chance than the other with poor recommendations.
LocalBitcoins escrow or transaction service protects the buyer and seller of bitcoins…both traders are protected by this service.
However, localbitcoin has shut down operations.
Other benefits of localbitcoins include:
People from different countries can exchange their local currency to bitcoins.
As a user, you can post advertisements, and state your exchange rate and payment methods for buying or selling bitcoins.
Through this platform you can agree to meet your prospective trading partner, alternatively trade directly with online banking.
With operations in 15 African countries (including Nigeria), the downside of Yellowcard.io/nigeria is that it supports only a limited cryptocurrency in Nigeria: bitcoin (BTC), ethereum (ETH), tether (USDT), but its P2P platform provides a secured bitcoin wallet and a security-proven crypto environment for its users.
Quidax.com is another crypto firm that makes it easy to purchase cryptocurrencies in Nigeria and makes provisions for crypto wallets. For Crypto traders in the United States, the best wallets for you can be found in one of our articles.
There are other crypto exchanges in Nigeria that provide secured crypto wallets and have turned into peer-to-peer platforms following the anti-crypto policies by the CBN in February 2021, which banned banks from supporting crypto-relating transactions.