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8 best crypto exchanges in Nigeria

Find the best crypto trading platform or app for low fees, beginners, trading features and more.

Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.

Each year, we conduct an extensive review of the crypto exchanges and trading platforms available in Nigeria. To arrive at these picks, we evaluated platforms on user experience, fees, payment methods, selection of coins and more.

When deciding on the best crypto trading platform for your needs, think about what you plan on using it for. It’s quite common to use multiple exchanges to benefit from their different areas of specialty, like using one for its range of coins and another for access to NFTs or staking features.

Finder’s best crypto trading platforms in Nigeria for 2023

  • Kraken – Best crypto exchange (overall)
  • Binance – Best exchange for low fees
  • NairaEx – Best Nigerian exchange
  • Coinbase – Best exchange for beginners
  • Quidax – Best exchange for extra features
  • Luno – Best crypto app
  • Bybit – Best exchange for advanced trading
  • KuCoin – Best altcoin exchange

1. Kraken – Best crypto exchange (overall)

Kraken Cryptocurrency Exchange

Supported cryptos
Fiat currencies

Kraken is one of the longest-running platforms in the industry and has maintained its legacy by constantly improving its services. It's a feature-rich exchange with a strong emphasis on education, which is why it won Finder's Crypto Trading Platform award for best global crypto exchange. You can start building a cryptocurrency portfolio today from 200+ supported coins.

Kraken is popular with over 9 million users and exceeds a daily trading volume of US$500 million, which makes it one of the world's largest exchanges. But for overall features and trading tools, Kraken really blows everyone out of the water. It is clearly made for traders, but it doesn't leave novices behind either.

Kraken has a broad range of staking options and advanced trading features. It prides itself on offering low spreads and providing deep liquidity across markets. This means that you don't need to worry as much about slippage.

While new traders may feel daunted by the exchange at first, the large variety of guides Kraken offers can help anyone become knowledgeable about cryptocurrency, its underlying technology and the different forms of trading. Meanwhile, more experienced traders will appreciate its high-quality system and easy-to-use UI (user interface) as well as be pleasantly surprised by how straightforward it is to trade, move crypto and manage assets. Kraken Cryptocurrency Exchange markets interface

  • 200+ supported coins
  • Launched in 2013: one of the longest-running crypto exchanges
  • Low fees for active traders
  • Earn yield through staking
  • High-quality educational guides and tools
  • NGN deposits not available
  • Higher fees for credit card purchases
  • No crypto debit card available for spending, unlike some alternatives
Fees and deposit methods Bank transfer,Credit card,Cryptocurrency,Debit card,Apple Pay,Google Pay
Deposit fees Fees vary
Withdrawal fees Fees vary
Trading fees Maker: 0.00-0.16%
Taker: 0.10-0.26%

2. Binance – Best exchange for low fees

Binance Cryptocurrency Exchange

Supported cryptos
Fiat currencies

Binance is a feature-rich exchange with competitive fees and a huge range of supported cryptocurrencies. You can start building a cryptocurrency portfolio today with over 300 coins available to buy with Nigerian naira.

Binance is by far the world's most popular exchange with around 128 million users and more trading volume than any competitor.

Binance also has a broad range of earning opportunities with staking, savings accounts and yield farming available for over 100 coins. It's also home to an NFT marketplace.

More experienced traders will enjoy the platform's suite of advanced trading options, including several order types, automated trades and charting options.

In 2020 Binance released its own blockchain, Binance Smart Chain (BSC). BNB is the native coin of BSC and offers Binance users a number of benefits. In particular, using BNB to pay for trading fees results in a 25% discount.

Several of BSC's features have now been added to the Binance exchange. Users can access decentralized finance (DeFi) services from within the platform, preventing the need to learn how to use a blockchain or a Web3 wallet. Binance Cryptocurrency Exchange markets interface

  • Low trading fees
  • Free and instant deposit and withdrawal methods for NGN
  • Huge range of supported cryptocurrencies
  • Comprehensive earning features
  • US$1 billion insurance fund
  • Smartphone app offers Lite mode for beginners
  • Website can be overwhelming for beginners
  • Poor customer service score on Trustpilot
  • Ongoing regulatory issues in China, the UK, the US and Japan
Fees and deposit methods Bank transfer,Credit card,Cryptocurrency,Debit card,P2P
Deposit fees None
Withdrawal fees Fees vary
Trading fees 0-0.1%
Advanced Trading Features Yes

3. NairaEx – Best Nigerian exchange

NairaEx Bitcoin Exchange

Supported cryptos
Fiat currency

NairaEx is a Nigeria-based cryptocurrency exchange that allows users to buy and sell Bitcoin with Nigerian naira.

The platform has been providing a fuss-free way for Nigerians to access the global crypto market since 2015.

With a user-friendly interface and competitive pricing, NairaEx offers a straightforward entry point if you're new to crypto.

The platform supports a number of deposit options, including bank transfers and card payments, making it easy to deposit and withdraw funds. NairaEx Bitcoin Exchange markets interface

  • Deposit and withdraw Nigerian naira
  • No trading fees
  • Users report responsive customer service
  • You can only buy/sell Bitcoin
  • Limited liquidity compared to global exchanges
  • Dated UI isn't as intuitive as some alternative platforms
Fees and deposit methods Bank transfer,Cryptocurrency,Perfect Money
Deposit fees None
Withdrawal fees None
Trading fees None

4. Coinbase – Best exchange for beginners

Coinbase Digital Currency Exchange

Supported cryptos
Fiat currencies

Coinbase is a renowned global exchange known for its beginner-friendly approach to crypto. It is also one of the world's most used crypto exchanges, with more than 108 million verified users across 100+ countries and it has the second largest daily trading volume.

Coinbase's best-known product is its crypto trading platform. Customers can buy, sell or convert cryptocurrency instantly through a streamlined and simple user interface that has been designed to suit newcomers.

It is becoming equally well-known for its Learn and Earn program which rewards users with free cryptocurrency for every learning module they successfully complete.

If you are looking for something more advanced, Coinbase's Advanced Trade (formerly Coinbase Pro) features offer lower trading frees and more trading options including limit orders and stop loss orders. Coinbase Digital Currency Exchange markets interface

  • Beginner-friendly interface
  • Over 200 coins
  • Learn and Earn program pays out crypto rewards while you upskill
  • Fees for instant buys are high
  • Customer service is often reported to be slow
  • Limited staking and earning opportunities
  • Coinbase Visa card not available in Nigeria
Fees and deposit methods Bank transfer (ACH),Credit card,Debit card,PayPal,Wire transfer
Deposit fees ACH: Free
Wire transfer: US$10
SEPA: EUR€0.15
Withdrawal fees ACH: Free
Wire transfer: US$25
SEPA: EUR€0.15
Trading fees Maker: 0.00 - 0.4%
Taker: 0.05 - 0.6%

5. Quidax – Best exchange for extra features



Supported cryptos
Fiat currencies

Quidax is a Nigeria-based cryptocurrency exchange and digital asset app that allows users to buy, sell, and store popular cryptos. The platform was launched in 2018 with the goal of making it easy for Africans to access the cryptocurrency market. It has grown to become one of the larger homegrown African exchanges, claiming over 400,000 registered users across the continent.

Quidax offers a range of features to make trading easy and accessible to both beginners and experienced traders. These include a simple and intuitive user interface, low trading fees, instant deposits and withdrawals, a mobile app, and a 24/7 customer support team. It also provides an instant swap feature and an OTC trading desk for large trades.

The platform's commitment to accessibility, security, and ease of use has made it a popular choice for beginner's looking for a full-featured crypto service. Quidax markets interface

  • Deposit and withdraw Nigerian naira
  • Beginner-friendly interface
  • Earn yield on USD deposits
  • NGN deposit/withdrawal fees increase based on amount, and can add up fast
  • Limited advanced trading options
Fees and deposit methods Bank transfer,Cryptocurrency,Online wallet
Deposit fees Fiat: From ₦100
Crypto: None
Withdrawal fees Fiat: From ₦200
Crypto: Network fees
Trading fees N/A

6. Luno – Best exchange app

Luno Cryptocurrency Exchange

Luno Cryptocurrency Exchange

Finder rating
Supported cryptos
Fiat currencies

With over 10 million customers in 43 countries, the Luno exchange offers a simple way to get started in crypto investing. It cements its spot as another of our highly commended trading platforms.

Access a range of popular cryptocurrencies with as little as $1 and set up recurring purchases according to your preferred frequency.

Along with its user-friendly interface and a suite of learning tools, Luno is worth checking out, especially if you're just getting started and prefer an exchange without much of a learning curve. Luno Cryptocurrency Exchange markets interface

  • Supports direct bank withdrawals and deposits. Deposit up to $200,000 per transaction into your Luno wallet directly from your bank account.
  • Highly secure. Majority of its clients' digital assets are held in 'deep freeze' using a multi-sig wallet where the keys are generated and stored entirely offline and offsite.
  • Intuitive trading web platform and mobile app. Beginner-friendly interface and informative learning portal make it easy for anyone to get started in crypto investing.
  • High instant buy and sell fees. Luno charges a trading fee of 0.75% for instant buys and sells, which is high compared to its competitors.
  • Limited cryptocurrencies. Luno only offers 8 cryptos.
  • May not be suitable for active traders. Luno does not offer margin lending or advanced trading tools.
Fees and deposit methods Bank transfer,Cryptocurrency,PayID,Debit/credit cards
Deposit fees Free ($1.30 for amounts below $50)
Withdrawal fees Free ($1.30 for amounts below $50)
Trading fees Maker: 0%
Taker: 0.03-0.10%

7. Bybit – Best exchange for advanced trading

Bybit Cryptocurrency Exchange

Finder rating
Supported cryptos
Fiat currencies

Bybit is one of the world's biggest crypto trading and derivatives exchanges by volume. The Singapore-based exchange supports advanced trading types for a large number of crypto coins across a range of spot and derivatives markets. As a result, it is more suited to a seasoned crypto investor who understands leveraged trading and the additional risks that go with it.

While the exchange is known mainly for its derivatives trading feature, it also supports instant buys and has a number of crypto-earning products on offer – some of which are more complex than others.

Plus, if you are intrigued by the NFT market, Bybit's platform is a one-stop shop for minting, purchasing and bidding on NFTs as well. Bybit Cryptocurrency Exchange markets interface

  • Multiple assets offered, including cryptos and NFTs
  • Low trading fees
  • Multi-sig cold storage wallets
  • Leveraged trading is high risk, as losses can exceed deposits
  • Limited spot trading pairs
  • Derivatives trading is not suitable for beginners
Fees and deposit methods Bank transfer,Credit card,Cryptocurrency,Debit card,P2P
Deposit fees Fees vary
Withdrawal fees Fees vary
Trading fees Fees vary

8. KuCoin – Best exchange for emerging altcoins

KuCoin Cryptocurrency Exchange

Supported cryptos
Fiat currencies
Sign up and get up to US$10 in rewards. Make trades to get up to US$500 in rewards. T&Cs apply.

KuCoin offers an impressive selection of up-and-coming altcoins compared to other centralized crypto exchanges, which is why it was our standout pick as the best exchange if you're looking for emerging altcoins.

Usually, to buy lesser-known altcoins, you have to purchase them through a decentralized exchange (DEX) like Uniswap or PancakeSwap, which requires you to know how to use a Web3 wallet.

With KuCoin, all you have to do is create your account and, just like that, you have access to 700+ digital assets.

Keep in mind that many of these assets are brand new, untested and much more volatile in price than assets like BTC or ETH, so proceed with caution. KuCoin Cryptocurrency Exchange markets interface

  • Provides access to 700+ digital assets
  • Know Your Customer (KYC) process is not required to use the exchange
  • Notable P2P exchange
  • Offers staking
  • Low trading fees
  • Numerous poor customer service reviews
  • Many of the assets listed on KuCoin are highly volatile in price
Fees and deposit methods Bank transfer,Credit card,Cryptocurrency,Debit card,P2P
Deposit fees None
Withdrawal fees Cryptocurrency: Fees vary
Trading fees Maker: 0.005-0.1%
Taker: 0.005-.08%
Advanced Trading Features Yes

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Unlike other crypto media, we're not owned by an exchange or investment firm. Our opinions are our own and we put our readers first to help you find the crypto trading product that's right for you.

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How to choose the best crypto exchange in Nigeria

It's important to research a wide range of crypto platforms and compare the pros and cons of each option. The best crypto exchange for you depends on what you're looking for, so consider the following:

Using a local regulator-registered exchanges to buy cryptocurrency

There are plenty of places to buy crypto, including platforms founded here in Nigeria or based in locations all around the world. Exchanges headquartered locally are required to register with a local regulator and comply with requirements that don't apply to global platforms. Depending on your goals, this may have some benefits or drawbacks.

  • Nigeria-based exchanges must comply with a local regulator's Anti-money Laundering (AML) and Counter-terrorism Financing (CTF) reporting obligations.
  • You can usually buy crypto with NGN.
  • Exchanges in Nigeria typically support local payment methods.
  • You may be able to access local customer support.
  • Subject to local laws.
  • You'll need to provide your personal details and proof of ID – a disadvantage if you want to trade anonymously.
  • Overseas trading platforms may provide better liquidity.
  • NGN-to-crypto prices are sometimes slightly higher than USD-to-crypto prices, meaning you sometimes pay a premium for buying directly with Nigerian nairas.
  • Some features are simply not available on a local regulator-registered exchanges. For example, margin trading, DeFi features and some altcoins.

Compare more crypto trading platforms and apps in Nigeria

Use the table to compare crypto exchanges and platforms on fees, range of cryptos, deposit methods and more. Once you've found the right fit, select Go to site to get started.
1 - 7 of 7
Name Product Deposit methods Fiat Currencies Cryptocurrencies Offer Disclaimer
Finder Award
Binance Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, P2P


Bybit Cryptocurrency Exchange
Bybit Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, P2P


Disclaimer: Highly volatile investment product. Your capital is at risk.
OKX Cryptocurrency Exchange
OKX Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, P2P


Refer a friend to win a mystery box worth up to US$10,000. T&Cs apply.
KuCoin Cryptocurrency Exchange
KuCoin Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, P2P


Sign up and get up to US$10 in rewards. Make trades to get up to US$500 in rewards. T&Cs apply. Cryptocurrency Exchange
EXCLUSIVE Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card


New users get $90 worth of Gate.IO points and an airdrop of $5 in GateTokens if trade volume exceeds $100 in their first week. T&Cs apply.
Kraken Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, Apple Pay, Google Pay


Gemini Cryptocurrency Exchange
Gemini Cryptocurrency Exchange
Bank transfer (ACH), Debit card, PayPal, Wire transfer, Apple Pay, Google Pay


Disclaimer: Star ratings are only displayed for products with 10 or more reviews.

How to use a cryptocurrency exchange

For the sake of our example, let's assume that you have ₦500 that you want to use to buy Bitcoin (BTC).

  1. Compare cryptocurrency exchanges to find one that offers the right service for you.
  2. Register for an account on the platform and provide any personal details and proof of ID required.
  3. Navigate your way to the "Buy" screen.
  4. Select BTC as the cryptocurrency you want to buy.
  5. Select your payment currency, which in this case is NGN, and specify the amount you want to spend as ₦500.
  6. Select your payment method, such as a credit card payment or bank transfer.
  7. Enter your payment details, such as your account number if sending a bank transfer or your card number and CVV if paying by credit card.
  8. Review the full details of your transaction, including the fees that will apply and the amount of BTC you are purchasing.
  9. If you're happy to proceed, click "Buy BTC".
  10. Once the transaction has been processed, the BTC will be deposited into your exchange wallet. However, please note that some brokers will automatically send your purchased BTC to an external wallet address that you nominate.

How to pay for your cryptocurrency in Nigeria

Crypto exchanges in Nigeria support a range of deposit methods, including the following:

Accepted payment methods vary between exchanges. Prior to signing up, it's worth checking that your preferred payment method is supported.

The different types of cryptocurrency exchanges

The term "exchange" may refer to a variety of cryptocurrency brokers, trading platforms and other services. Different types of exchange are often more geared toward beginners or experienced users.

  • Cryptocurrency brokers (suited to beginners). Buy directly from cryptocurrency dealers for simple and quick purchases. Many beginners use brokers for their first purchase. A broker will facilitate an instant purchase of the digital asset of your choosing and will not offer spot trading.
  • Cryptocurrency trading platforms (suited to beginner/intermediate users). Buy and sell cryptocurrency on an open market for competitive fees, a wide selection of cryptocurrencies and optional features like margin trading. Many exchanges now offer brokerage services to be more beginner-friendly.
  • Cryptocurrency derivatives platforms (suited to advanced users). These trading platforms don't sell cryptocurrency outright. Instead, they let certain users trade cryptocurrency derivatives in regions where this restricted-access feature is available. They're for advanced traders who want high speed, high leverage and deeply liquid platforms with a full range of features.

It's difficult to find one exchange with all the coins and features you want. I spread my trading around several exchanges to make sure I'm getting exactly what I need, while also diversifying my risk should the exchange get hacked or shut down. To further reduce risk I use one registered locally so it's subject to local laws and regulations.

Risks of using a crypto exchange

  • Cybersecurity breaches. Hacks and scams are, unfortunately, commonplace in the crypto space. Exchange-related security breaches and targeted phishing scams remain a major concern for exchanges and their customers.
  • Not your keys. "Not your keys, not your crypto" is a common industry saying and refers to holding your digital assets in a wallet that another person or company controls, such as on an exchange. By storing cryptos on an exchange rather than in a non-custodial wallet, you're relinquishing full ownership of those assets and putting trust in a third party – which some may see as contradictory to the decentralised philosophy of crypto.
  • Lack of consumer protection. While crypto exchanges are increasingly regulated in Nigeria and may be registered with a local regulator, they are still lacking a lot of consumer protections such as mandatory insurance or strict rules about how user assets are managed.
  • Proof of reserves. Since the widely publicised collapse of FTX, many traders and investors have demanded centralised exchanges provide proof of reserves and user deposits. This may be done by a third-party auditor or through the use of on-chain data. Proof of reserves is still an evolving concept, and it's not clear yet what the best practices are or how reliable it will prove to be.
  • Transaction limits. Most crypto trading platforms have daily deposit and withdrawal limits. This means that even though you may have, for example, 10,000 NGN available, you may not be able to access and withdraw the total balance. Transaction limits depend on the exchange and a local regulator stipulations and typically increase as you provide additional KYC information.
  • Frozen accounts. Crypto exchanges freezing deposits and withdrawals can happen without warning. If your account is frozen, you will not be allowed to remove your funds until the exchange approves or denies your request. Precautionary measures such as only holding a trading balance on an exchange are recommended.
  • Asset delistings. Centralised exchanges can opt to delist a cryptocurrency at any time. This can happen for numerous reasons, including poor asset performance, security concerns or anti-money laundering (AML) breaches. If delisting is taking place, you will be notified by the exchange and forced to sell your assets or remove them from the platform.

Is it safe to store your cryptocurrency on an exchange?

Securely store your crypto:

Cryptocurrency is held in digital wallets. Some exchanges will give you your own wallet that lets you hold cryptocurrency in your exchange account and then transfer it anywhere as desired.

However, once you have purchased what you consider to be a sizable amount of digital assets, you may want to consider transferring the private keys to those assets to a self-custodial wallet.

This is because the exchange controls the private key to your wallet, which means you don't have total control of your funds. And with exchanges sometimes falling victim to hackers, there is some degree of risk involved with leaving the private keys to your crypto in the hands of a centralised exchange.

Learn more about cryptocurrency wallets

2023 crypto exchange industry predictions report

We polled 56 specialists in the fintech industry to get their opinion on what the future looks like for centralised crypto exchanges and what the demise of FTX means for the crypto industry.

The vast majority of our panellists (83.93%) don't think the collapse of FTX was the beginning of the end for crypto, while 8.93% think it was and 7.14% are unsure.

However, because of the FTX collapse, more than half of our panellists (58.49%) believe that crypto exchanges should be regulated just as much as other financial trading platforms.

22.64% believe that crypto exchanges should be regulated, but less so than other financial trading platforms. 15.09% don't believe that crypto exchanges should be regulated to the same degree.

Over one-third of our panellists (35.19%) believe all crypto exchanges will be regulated as traditional financial institutions by 2030. A further 22.22% believe this will happen by 2025 and another 14.81% think it will happen by 2024.

In the future, the majority of our panellists (86.79%) feel that crypto exchanges should be required to disclose both their proof of reserves (PoR) and records of their liabilities.

42.31% think that more crypto exchanges will face bankruptcy as a result of a reduction in their customer base. 15.38% believe this will play out over the next 5 years while a quarter (26.92%) think it'll happen within the year.

Bottom line

Not all crypto exchanges are created equal and not all crypto buyers and sellers have the same trading needs. The best exchange or platform for one person might not necessarily be the right choice for someone else, so it's essential to do your own research.

Read our reviews of some of the most popular cryptocurrency exchanges in Nigeria and around the world before you decide which to use. Compare the features, fees and pros and cons of each platform and consider whether they align with your investment goals and budget.



To evaluate our 2023 picks for the best crypto exchanges in Nigeria, we compared trading platforms on a range of criteria, including the following:

  • Supported assets. Does the platform offer a good breadth of coins, tokens and NFTs?
  • Payment methods. What account funding options are available? Does the exchange accept bank transfers, credit and debit cards or crypto-only transfers?
  • Fees. What trading fees, withdrawal fees and other miscellaneous charges are levied by the exchange, and are these rates comparable with competitor exchanges?
  • User experience. Is the platform simple to use for both beginners and advanced crypto traders?
  • Platform features. What tools, charts and functionalities are available on the exchange? Is there support for advanced trading features such as derivatives or hedging?
  • Security. What measures are taken by the exchange to protect its customers' assets and prevent theft or loss? Are additional security features in place, including 2-factor authentication (2FA), cold storage of assets, regular audits and insurance coverage?
  • Regulator registration. Is the platform registered with a local regulator?
  • Customer support. How do existing users rate the exchange's customer support? Does the exchange offer various methods of contact, such as email, instant chat, phone or social media?
Read our full trading platform rating methodology

Finder's crypto exchange reviews

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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