6 Best Apps to Save in Dollars in Nigeria with High Interest Rates


Alt: = "Hands counting dollar bills"

Why You Should Save in Dollars in Nigeria

It’s important that one saves some fractions of one’s earnings against the rainy days or to meet up some needs. Unfortunately, saving in naira might not be the best to do. The local currency can easily lose value due to inflation and exchange rates. That’s why it’s more advisable to save in US Dollars instead.

Preserve the value of your money. One of the key fundamentals in wealth creation and management is preserving the value of your savings. It means not losing value on your savings over time. Saving in foreign currencies like dollar helps to hedge against that. So consider saving in dollars as a means of store of value.

How to Start Saving in Dollars in Nigeria

Conventionally, people save money in dollars in domiciliary account. But saving in domiciliary account has some limitations. One of the major limitations is the difficulty in opening a domiciliary account. Opening a domiciliary account has some stringent requirements, which may not be easy to meet. To save in domiciliary account, you also have do deposit dollar cash in the bank or receive dollar through your domiciliary account. This means if you don’t access to dollars or don’t anyone who will send your dollar from abroad, you can’t save in dollars in a domiciliary account.

Over the years, the proliferation of Fintech apps and cryptocurrencies has made saving dollars in Nigeria easy.

The beauty of it all is that you don’t need dollar bills to start saving in dollars when you make use of Fintech apps and cryptocurrencies.

Blockchain technologies introduced digital assets of the United States dollars, and Fintech apps enabled access to saving in dollars.

These offer people living in Nigeria and across the globe the opportunities to own and start saving in dollars without owning domiciliary accounts.

What you need to own the blockchain version of the US Dollar is to have access to an exchange or a crypto wallet you can fund and withdraw from.

Here we have compiled top Apps or platforms you can save money in dollars with competitive interest rates while living Nigeria

Best Platforms to Save Dollars in Nigeria

  • PiggyVest
  • CowryWise
  • Muna
  • Binance Exchange
  • Bundle Africa
  • Waves Exchange


Alt: = "PiggyVest Flex Dollar Wallet Screenshot"

PigyVest Flex Dollar  enables you save, invest and transfer funds in dollar. Funding your wallet is very easy. You can fund your Flex Dollar Wallet from your PiggyVest Flex Naira Wallet or from your naira bank card. You don’t need to transfer or deposit dollar in your PiggyVest Flex Dollar Wallet. All you need is to transfer from your naira card and it will be converted to dollar for you according to parallel market prevailing sell price. You can save minimum of $1. You can withdraw your dollar savings in Naira into your local bank or Dollar into your Dollar denominated domiciliary account at prevailing buy price at the parallel market. 

PigyVest offers 7% interest rate on your dollar savings. 

You should consider saving dollars with PiggyVest as it offers seamless savings and withdrawal processes with comparative interest rate.

PigyVest also offers savings in Naira and investment opportunities. See more on PiggyVest website


Cowrywise is a mobile platform where you can save money, invest money in different currencies including dollar and earn impressive interest.


Alt: = "Muna exchange logo"

Muna is another good platform to save in dollars as a Nigerian as the app currently ranks as one of Nigeria’s best apps for saving naira in dollar-related cryptocurrencies.

You earn  interest of up to 15% yearly on your savings.

The Muna app wallet supports a wide variety of stable currencies.  The value of one USDN is same as one USD. This implies Muna users may use USDN to save US dollars.

Binance Exchange

Alt: = "Binance Exchange app"

Binance is a major cryptocurrency trading platform in the globe. The app can be used to  store various coins.

You may pick from various US Dollar stable coins to use in your savings.

Some of the USD coins you may store on Binance include USDT, USDC, and BUSD.

The only constraint in using Binance is Nigeria is the lack of direct deposit option. But then, Nigerians can simply fund their Binance accounts by connecting with other Nigerians interested in selling and buying, using Binance’s safe P2P trading method.

You may pick from various traders, but must make sure you adhere to Binance’s P2P guidelines for your financial security.

Bundle Africa Vault

Bundle Africa is one of the top crypto wallet that offer Nigerians an opportunity to save cryptocurrencies, including BUSD, a stable coin pegged to the United States Dollar.

The platform enables saving in US Dollars for its users via BUSD. You can save from as low as 0.1 BUSD.

Funding your account on Bundle Africa is very easy through its secure P2P exchange method that connects you with other Nigerians looking to buy and sell.

Your savings on Bundle earns you up to 6%  per annum. That’s very attractive, if you ask me.

You cannot withdraw from the fixed BUSD plan until its due date.

Waves Exchange

Waves exchange is another crypto trading platform that enables its users to save in dollars. 

The platform offers competitive interest rates of up to 15% per annum, and enable USD saving via USDN.

The only challenge in using this platform is that funding your wallet might take a bit of time to master since there is no direct deposit method for Nigerians. 

If You want to save in USD via USDN, Muna should be your choice.

Read Also: Best 6 Apps to Buy US Stock from Nigeria

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