When asked about what is the best app to buy crypto in Nigeria, most people will start pointing to an exchange platform and its hosted wallet service. They will be right in a great many respects, but there are some factors that need to be considered before making such a hasty decision. Users who are new to cryptocurrencies must be aware of a number of facts before they opt for a popular crypto application for their daily decentralized operation needs.
With the abundance of services available in the decentralized space, it is easy for users to get lost in the variety of choices. There are dozens of exchange platforms, each vying for the title of the best of the best, offering users a plethora of services crammed into the scope of a single application. But users who are new to the space must first weigh all the pros and cons before jumping on the bandwagon of popularity. In this material, we shall take a quick look at how to select a crypto app suitable for the Nigerian average crypto user.
The Best App to Buy Crypto in Nigeria
The most common question for new users willing to enter the crypto space is “what is the best app to buy crypto in Nigeria?” Naturally, the first instance they will turn to for answers is the internet or their acquaintances who are already familiar with decentralized assets. However, new users must be made aware of the fact that the internet is full of biased and outright sponsored reviews of applications that do not reflect the reality of things or do not consider individual needs or cases. In the second scenario, what is best for a more proficient user, who may have already tried out a number of applications, may not be suitable for a new user.
As such, before selecting the app to buy Bitcoin in Nigeria, users must consider the following criteria that will decide whether an application suits their needs or not:
- High security;
- Availability of a holistic trading interface;
- Intuitive interface;
- Availability of support services;
- Broad range of supported cryptocurrencies;
- Low commissions.
Taking into account the above criteria, users will have a better understanding of how to buy cryptocurrency in Nigeria via any given app. The many apps to buy any kind of crypto in Nigeria give users a wide range of choice and allow them to opt for a platform that will fulfill all of their requirements. The key factor is deciding first which services and functions are of prime importance. Users must also remember that the best app to buy Bitcoin in Nigeria is not necessarily the most popular one, but the one that best answers the requirements of a specific user.
The most easy-to-use app to buy Bitcoin in Nigeria is, of course, Binance, which is not only the most complete trading interface out there, but also the most accessible. The huge variety of functions the application offers gives users a wide berth of choice in terms of cryptocurrencies to use and the operations they can perform with them. Apart from cryptocurrencies, the app also offers the best wallet to buy and sell Bitcoin in Nigeria, since it is secure, supports virtually all blockchain networks, and has rather low fees.
Start with a Wallet
The wallet to best buy and sell Bitcoin in Nigeria is not always the most popular one, just as is the case with exchanges. The reason is quite simple – most wallets are custodial on exchanges, meaning they store the users’ private keys, depriving them of control over their funds. As such, to buy and sell Bitcoin in Nigeria, the best wallet is a non-custodial one, however, most exchanges do not provide such an option for reasons of legislation. The exchange is obliged to keep records of their users, and is responsible for the funds it operates.
So, when looking for an answer to the question about which app is the best wallet to buy Bitcoin in Nigeria, users must look to decentralized exchanges. Such venues seldom are included in lists of the answers about the app that is the best, and which one could resort to in order to buy Bitcoin in Nigeria. However, they provide far greater security and privacy when it comes to storing user funds and ensuring the impermeability of the exchange to hacker attacks.
Returning to the list of the best answer about to which app users should turn to and which is the most optimal choice to buy Bitcoin in Nigeria, users should apply the same criteria to wallets. There is no straightforward answer about what is the best app to buy Bitcoin in Nigeria, since each application will find its user. That is why there are so many applications, so similar and so different at the same time. They all offer something in a way that makes them both distinct and near identical. The identical nature comes from the similarities in user demands and the fact that the underlying infrastructure is the same. The differences stem from varying user requirements in terms of security, privacy and other factors.
So, which is the best app and how to buy Bitcoin in Nigeria? Is it Binance or KuCoin, Coinbase or Bitget? That depends on the requirements of the individual user. The place to buy Bitcoin in Nigeria best is a peer-to-peer exchange, since such venues offer a fair and transparent means of interacting with other users without the involvement of an intermediary. The best site to buy Bitcoin in Nigeria is a native peer-to-peer decentralized exchange that offers a guaranteed exchange between two users on the basis of individual price setting. Other cryptocurrencies will also be presented on such platforms and will be traded on the same terms.
Key Takeaways
There are dozens of exchanges in Nigeria, each operating on almost equal terms. The differences between them can be categorized into user interface distinctions and functionality lineups. Just like the price of Ethereum in Nigeria, the offerings of such exchanges will be leveled by market demand and will depend on their ability to act as a reliable trading platform. What is important is that your account will be secure, and that can only be guaranteed if the exchange provides enough layers of security that include the user.
There has been a recent shift towards non-custodial storage, but any standalone wallet that offers a reliable repository for Bitcoin will likely be such anyway. Exchange-based wallets are a different story, since the platform will be required to keep user private keys to ensure password recovery in some cases. You can always browse reviews of different applications and decide which application suits your needs. But keep in mind that you can buy any cryptocurrency on a peer-to-peer basis even without an exchange.
