How do you own a Bitcoin wallet in Nigeria? Very easy steps.
(This article is focused on Bitcoin software wallets)
There are 2 options we recommend for anyone hoping to own a Bitcoin software wallet in Nigeria:
Blockchain Wallet
The Blockchain wallet is one of the most secure Bitcoin wallets in the world. Founded in August 2011, the wallet is one of the oldest and most reliable in the cryptocurrency space. The company is headquartered in Luxembourg and also very well funded. It now also supports the Ethereum cryptocurrency.
The Blockchain has mobile apps on both Android and iOS devices.
How to get started with the Blockchain Wallet:
- Download the blockchain app from the Android or iOS play store.
- Register with your email and you’re good to go!
- Set your Password AFTER you get the confirmation email.
- Secure your account with your passphrase (Hint: Copy it out for safe keeping).
- Secure your account with a 2 step verification (email and phone) when you log in on the desktop. You will need only a 4-digit pin when you login via mobile.
Luno Wallet
Luno Bitcoin Wallet, formerly known as BitX works as a wallet and also helps users transacts in their home countries. Luno is in more than 40 countries across Europe, Southeast Asia and Africa. The major advantage of Luno is the ability to allow direct fiat currency transactions to Bitcoin.
It’s headquartered in London and also very well-funded.
How to get started with the Luno Wallet:
- Download the app from Android or iOS play store
- Register with your email and use a very strong password (alphanumeric and with special characters). This is like your crypto bank account.
- Confirm your email. Once you do this, you’re all good to go.
- You can have upgrade your account with Luno when you complete your KYC
- To complete the KYC, you need the following: National identity card (front and back), Valid Nigerian passport, Electronic identity card (MasterCard-integrated e-ID), National voter’s card, Nigerian driver’s license, BVN.
Luno helps customers with a bank account in the supported countries to buy, sell and trade Bitcoin.
If you don’t have a bank account (in these countries) or you just want to use Luno to send, receive and store Bitcoin, you don’t need to upgrade your account.
There are different account levels, with deposit and withdrawal limits that apply to each level:
|
LEVEL |
REQUIREMENTS |
|
Level 0 |
Confirm your email address or sign up with your social media profile |
|
Level 1 – 200,000 Naira |
Confirm mobile number and basic personal details |
|
Level 2 – 500,000 Naira |
Submit photo/scan of government-issued ID |
|
Level 3 – 10,000,000 Naira |
Submit proof of residential address |
These limits are applied per instant buy/sell transaction. There is no limit on the number of transactions that can be done. These limits do not apply to the exchange.
BTC 0.0005 – BTC 1.00 is the range of transaction allowed per time in Nigeria.
From this information about these 2 wallets, you can see you do not need to save up your entire life savings to get into cryptocurrency. For as low as the equivalent of 0.0005 Bitcoin, you can start buying into Bitcoin.
Now, you know how to get a Bitcoin wallet in Nigeria. Get started via your mobile devices.
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