Best Apps to Save Money in Dollars in Nigeria

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You would agree that the naira has become grossly undervalued these days. Therefore, using apps to save money in dollars in Nigeria has not only become a necessity but a wise decision.

Due to an understandable lack of trust regarding money, you might wonder where or how to begin this process.

This article will be a useful guide to help you understand why and how you can start saving money in dollars.

Why Should You Save Money in Dollars in Nigeria?

The following are some vital reasons why you should save your money in dollars in Nigeria;

person getting 1 U.S. dollar banknote in wallet

Rising inflation:

Even a child these days knows that naira currently has little value. Therefore, saving in dollars will help you protect your money against devaluation.

Global acceptance:

using naira to trade online is mostly limited to Nigeria. Dollars, on the other hand, are globally accepted on various sites and platforms.

Cost savings:

Having dollars in savings saves you the trouble of battling exchange rate costs and procedures from Nigerian banks.

Protection against unregulated currency supply:

You may have witnessed the fiasco during the currency change during the 2023 elections. This has led to the current hyperinflation, which you wouldn’t have to face with dollars.

How to Save in Dollars in Nigeria

There are three major ways in which you can save money in dollars in Nigeria. These are;

Domiciliary Account

This is a type of bank account where you can transact in foreign currencies. This includes different denominations, including dollars.

However, this account has some cons. These include the stress and protocol involved in opening the account, which can be overwhelming.

Also, saving your money in dollars in a Nigerian bank is one thing, and having access to it is another.

Stable Coins

This is a great option to save money in dollars. Stablecoins are simply a type of cryptocurrency that is backed up by fiat currency (that is, government-issued currency). These currencies include dollars, pounds, and so on.

The idea behind the use of stablecoins is that the price remains steady. This depends on the currency that is attached to them.

Some types of stablecoins are USDT, USDC, and BUSD. These stand for US Dollar Tether, US Dollar Coin, and Binance USD, respectively.

Using Fintech Apps

A fintech app is a special app or technology designed to automate financial transactions. This simply means you can use these apps to perform specific financial transactions.

There are different fintech apps for saving money in dollars in Nigeria and other foreign currencies. All you need to do is download the app, register, and have access to their services.

8 Best Saving Apps in Nigeria With High Interest

The Best Apps to Save in Dollars in Nigeria

These are some of the best apps to save in dollars in Nigeria:


This is one of the biggest online savings and investment platforms in Nigeria. This app will enable you to save both in dollars and naira.

Piggyvest review

To save in dollars, you have to first fund your naira account on something called Piggy Flex, which you can then convert to dollars. The annual interest rate on your dollar savings on this platform is 7%.

There are other impressive interest rates on this online savings and investment platform, depending on the particular savings plan you subscribe to.


This is another reliable app to save money in dollars in Nigeria. With Cowrywise, you can save and invest in dollars for a long period of time and get good returns.

There are three major types of savings and investment plans available on this platform. These are regular savings, life goals, and halal savings (for Muslims).

Also, the annual interest rate depends on the particular investment you want. These investment plans can be Treasury bills, mutual funds, or government bonds. The good news is that you will be informed about the prevailing rates and how much you will earn.


This platform will help you invest in dollars, real estate, stocks, and fixed income. This app works like your personal investment adviser, and that will help you invest in dollar-denominated assets with stable returns over time.

Risevest will enable you to build and maintain your wealth while monitoring your progress along the way. The interest rate varies depending on the investment.

All you need to do is download the app, create an account, fund it, and enjoy the benefits.


This is another online investing technology platform. Here, you can invest in stocks, exchange-traded funds (ETFs), and so on with as little as $10 or N1,000.

This platform has different charges depending on the transaction. However, deposits and withdrawals from your naira or dollar wallet are free.


This is an investment app where you can access smarter investment options and earn great returns. On Bamboo, you can invest in the US stock market and receive fixed returns with an 8% annual interest rate.

You also have access to currency conversion. That means this is one of the best apps to save in dollars in Nigeria. To do this, the platform sources the best rates available and provides regular updates for your transactions.

The fees and charges differ depending on the transaction. Their services are available in different currencies, such as naira, dollars, and cedis.


This is an app with easy and diversified investment options. It is another recommended app to save money in dollars in Nigeria.

The different options available for your dollar savings:

  • Flex Dollar: This will allow you to save your money in dollars on your own terms.
  • Flex Savings: Here, you can save and withdraw your money at any point in time.
  • Vault: As the name implies, the money you invest with this option will be inaccessible for a given number of months, with interest. The annual interest rate for this app is 15%.


This is a technology app that offers digital investment and wealth management opportunities. It is also a great app to save money in dollars in Nigeria.

This can be done via a designated platform called SmartInvest.

Once you get started on this platform, your SmartInvest portfolio will be managed by a specialized wealth manager to help you meet your financial goals and make smart investment decisions.

With SmartInvest, you will have a dollar mix of US stocks, international bonds, and real estate all in one portfolio. SmartInvest works in three simple steps:

  1. You answer some relevant questions for a better understanding of your goals and timeline.
  2. A portfolio is recommended for you based on your answers.
  3. Then, you can fund your portfolio and watch your money multiply.


This is a crypto app that allows you to save a variety of stablecoins. These include Bitcoin, USDN, Waves, and more.

The USDN is a stablecoin tied to the United States dollar (USD). So, with Muna, you can save your money in dollars through USDN.

Additionally, you can accumulate an annual interest rate of 15% while saving on the Muna app. The best part is that you will receive interest rewards daily until you withdraw your funds. However, they deal solely in cryptocurrencies with a 15% annual interest rate.


This is a leading financial service that offers specialized services on various investments. This is one of the best apps to save your money in dollars in Nigeria. This app has a package called Cordros Dollar Fund.

This fund will enable you to invest in dollar-denominated securities such as bonds, mutual funds, assets, and the rest.

This fund has an edge over domiciliary accounts offered by Nigerian banks. This is because you are assured of the best returns on your investments. All you need to do is visit their website, fill out the application form, and follow the subsequent instructions.

Best Apps to Buy Dollars in Nigeria

First, let’s review the best apps to buy dollars in Nigeria from your smartphone;

a pen sitting on top of a pile of gold coins


This is a platform where you can buy and sell e-currency. This app is very flexible, as you have a variety of payment methods. These are bank deposits, mobile or online transfers, and cryptocurrency.


This cryptocurrency exchange app allows you to buy, sell and save cryptocurrencies in dollars. You can also request a virtual card from your crypto wallet. With it, you make purchases from stores and merchants globally.


This is an app to buy dollars in Nigeria with other foreign exchange services to customers worldwide. With this app, you can also sell dollars at a good exchange rate compared to commercial banks.


This is an international crypto exchange app where you can buy and store crypto conveniently. With this app, you can also buy and store dollars digitally.


This app offers various services such as payment of bills, sending and receiving money, and other financial services. You can also request a virtual dollar card for online purchases.


This is a well-known cryptocurrency exchange app. It enables users to save digital currencies in dollars, like USDT. You can also use this app to buy dollars in Nigeria. 


If you are a freelancer, you can use this app to receive payments from abroad. You also have the option of currency conversion for dollar saving and invoice generation.

How Does Dollar Investment Work in Nigeria?

Saving and investing in dollars is the surest way to secure your future and reduce the risk of naira depreciation. Therefore, you can use an app to save money in dollars in Nigeria by following the following easy steps:

How dollar investments work

  • Download the app: A comprehensive list of the best apps to save in dollars in Nigeria has already been given. Therefore, choose the one most suitable for what you want to achieve.
  • Fill out your registration details, including email verification.
  • Provide a valid means of identification and wait for the account verification notification.
  • Next, you can fund in local currency and then convert to dollars, depending on the rate the app is using.
  • Choose an investment option or get help from experts designated on the app.

Tips for Selecting an App to Save in Dollars in Nigeria

Now, before you make a commitment or download an app to save money in dollars in Nigeria, the following tips are recommended:

Conduct in-depth research

This includes checking the track record of the investment platform and how long it’s been in business.

Considering the economic situation of the country, it’s no longer news that companies are shutting down operations. Therefore, you need to ensure you do the necessary research to safeguard your money.

Read user reviews

Before selecting an app to save money in dollars in Nigeria, you need to check for authentic user reviews. This includes their experience with the platform in terms of reliability and trust.

Compare the fees and charges.

You also need to visit the app website and find out the charges for transactions. This is because high transaction charges can eat into the returns on your investment.

Check if they have responsive customer service

You should also inquire about the customer support offered by the app. Choose an app that is responsive and offers helpful advice when faced with challenges.

Bottom Line

In this article, we’ve reviewed the best apps to save in dollars in Nigeria. We’ve also covered the different types of apps to buy dollars in Nigeria and how to get started. The final decision is left to you.

Diversifying your earnings is the ticket to financial freedom. You can have a win-win situation by saving in dollars and investing in different assets. This is guaranteed to set you up for life.

Frequently Asked Questions

Is It Safe to Save in Dollars in Nigeria?

Yes, keeping your savings in dollars can provide a relatively safe store of value over time. This is because of the stability of dollars over naira.

How Reliable Are Apps to Save Money in Dollars in Nigeria?

The apps are relatively safe, but you still need to do background research before making an investment. The tips given above will help you make a great choice.

Which Stable Coin Should I Choose?

In terms of high reputation, USDT, USDC, and BUSD are the best stablecoins today. This is because they have the largest share of the market and are available on various cryptocurrency exchanges, including Quidax.

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