There are several crypto saving platforms in Nigeria, so which are more reliable?
If you’re anything like me, you’re definitely looking for dependable ways to make some money through investment. Financial investment is now necessary because instead of leaving the money in your bank account, there are different investment types you can buy into and make some profit from.
But with the emergence of so many cryptocurrency-saving platforms in Nigeria, it can be quite confusing to know what saving platform is the best to use. There are several things you have to consider when choosing a cryptocurrency saving platform. Certain factors like cost, requirements, or limitations should surely be reviewed.
In this article, I will provide the top 8 crypto saving platforms that you should consider when saving in crypto. But before we proceed, why should one invest in cryptocurrency?
Why Should You Save In Cryptocurrency?
You may be asking, “Why Cryptocurrency?” Well, that’s a valid question. There are several other types of investment, such as the stock market or real estate. Then, why must one leave these options for cryptocurrency?
I will love to add that I am not a financial advisor but with my little but knowledgeable idea about money making, I believe I do have some convincing reasons.
Cryptocurrency has been a buzzword in the world of finance and investments for quite some time now and for good reason. While traditional investments like stocks, bonds, and real estate have their own advantages, here are some reasons why you should consider investing in cryptocurrency:
1. Decentralisation
The fact that cryptocurrencies are decentralised—that is, not governed by a single central authority or government—is one of their main advantages. As a result, it is less vulnerable to financial manipulation by large banks and other financial institutions and resistant to political and economic turmoil. Isn’t it so cool that there’s transparency in the crypto market and no hides out? And I can even send money internationally through crypto without those unnecessary limits.
2. Security
Cryptography is used to protect cryptocurrency transactions, making them significantly more secure than those made using more conventional payment methods. Additionally, the majority of cryptocurrencies employ blockchain technology, which offers an unchangeable record of transactions. You know, you don’t want hackers snubbing around. Talking of security, I wrote a good piece on how to self-custody in crypto and SAFU funds, you should check it out.
3. Accessibility
Anyone with an internet connection can invest in cryptocurrencies, regardless of their location or financial situation. People who might not have access to conventional investing options are now able to take part in the global economy.
4. Profit
Despite the risks associated with cryptocurrency investing, I mean, there’s a lot but there is also the potential for big profits. For instance, many early Bitcoin investors witnessed the exponential growth of their assets over time. And currently, there are several uncommon cryptos that are gaining over 50% over time.
5. Diversification
Including cryptocurrencies in your financial portfolio can help spread out your risk and lower it overall. You may better withstand market volatility and unpredictability by diversifying your assets across several asset types. I mean, you don’t want to put all your eggs in one basket. Even if I am not an expert, at least I am sure of that!
Note: However, it’s important to note that cryptocurrency investments come with risks and should be approached with caution. As with any investment, it’s important to do your research, understand the risks involved, and only invest what you can afford to lose. Well, if you’re looking to start. I usually advise beginners to save in USDT, a crypto pegged to USD currency.
8 Best Crypto Saving Platforms In Nigeria
1. BuyCoins
BuyCoins is an extensively used crypto platform in Nigeria that provides a diverse range of services encompassing investing in cryptographic assets. The service enables users to accumulate interest on their digital money which may be cashed out at any given instance alongside the potentiality of establishing cyclical investments for convenience purposes. Conveniently, beginners can operate this interface with ease due to its user-friendly design and impeccable layout standards making it very ideal for those who have just started venturing into cryptocurrency finances.
2. Quidax
Quidax is another great Nigerian crypto platform that offers a savings feature. It allows you to earn interest on your Bitcoin, Ethereum, and other crypto assets. The interest rates are competitive, and you can withdraw your funds at any time. The platform is also available as a mobile app, which makes it convenient for on-the-go savings.
3. Bundle
BundleAfrica is a popular Nigerian crypto platform that offers a range of services, including crypto savings. The interest rates are competitive, and you may earn income on your Bitcoin, Ethereum, and other crypto assets. Additionally, the site offers a clear and user-friendly layout that makes it simple to move about.
4. Trove
Trove is an investment app that hails from Nigeria and presents you with the opportunity to store your funds in digital currencies such as Bitcoin and Ethereum, among others. Additionally, it offers a chance for interest accumulation on these savings which are accessible at any given period. The platform’s features extend further with its availability on mobile devices allowing effortless management of investments while out and about.
5. Busha
On the Nigerian cryptocurrency network Busha, you may store Bitcoin, Ethereum, and other digital currencies. Savings may be rewarded with interest, and the website is simple to use. Additionally, customer support is dependable, allowing you to relax knowing that your money is safe.
6. BitNob
Bitnob is a Nigerian platform that lets you save in various prominent cryptocurrencies such as Bitcoin, Ethereum, and other virtual values. Not only can this service allow for saving to accumulate interest on your deposit, but it’s also user-friendly. Which makes the entire experience swift and effortless. The reliability of customer support further corroborates the satisfaction guarantee with certainty concerning the safety of your funds being taken care of properly by Bitnob team members who are adept at their craft.
Bitnob is a Nigerian platform that lets you save in various prominent cryptocurrencies such as Bitcoin, Ethereum, and other virtual values. Not only can this service allow for saving to accumulate interest on your deposit, but it’s also user-friendly which makes the entire experience swift and effortless. The reliability of customer support further corroborates the satisfaction guarantee with certainty concerning the safety of your funds being taken care of properly by Bitnob team members who are adept at their craft.
7. RiseVest
Risevest is a Nigerian platform for investors that provides the opportunity to save in Bitcoin, Ethereum, and other such crypto assets. You can collect interest on your savings while also being presented with an interface that’s user-friendly. Furthermore, their customer service team is dependable so you may have faith in them to handle your funds adeptly.
8. YellowCard
YellowCard is a cryptocurrency exchange where you can buy, trade, and save in cryptocurrencies like Bitcoin, Ethereum, and others. Savings may be rewarded with interest, and using the platform is simple. The portal also provides a number of payment alternatives, such as bank transfers and cash deposits.
My Final Thoughts on Saving in Cryptocurrency
I like to say that crypto is fun. You can do so much with cryptocurrency, one of them being its saving opportunity. And ideally, there are so many other proven ways to make money with cryptocurrency, especially this 2023. Let me paint a scenario. Instead of just leaving your money dumped in your bank account, imagine saving the money in crypto, and over time, the value of your investment increases. So instead of having your initial money, you now have that with some more profit.
See! Saving in cryptocurrency is honestly something you should not miss out on. However, I repeat that it is important you do proper research and maybe divulge the advice of a financial expert.
But I do have some more helpful crypto resources. And until next time, happy saving!
