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5 Best Crypto Exchanges in Nigeria
Looking for the best crypto exchanges in Nigeria? After manually testing 50+ platforms, we’ve selected the top 5 picks. You’ll find pros, cons, and expert-backed tips to guide your decision.
By:
Reviewed By:
Updated: Jun 9, 2025
Advanced trading, deep liquidity, and NGN P2P support with 100x to 500x leverage.
Locally licensed with direct NGN transfers, beginner-friendly design, and regional compliance tailored for Nigerian users.
Zero maker fees, 2,000 plus tokens, and NGN P2P support.
Offers 100x leverage, trading bots, and NGN P2P access with advanced tools.
Nigeria's first P2P platform with secure escrow, direct NGN wallets, and 200 plus payment methods.
How Did FXEmpire Choose the Best Crypto Platforms in Nigeria?
- Licensing & Regulation: We prioritized exchanges with recognized licenses and global compliance, focusing on those that operate transparently under Nigerian financial rules to ensure user protection.
- NGN Deposit and Withdrawal Options: We looked for support for Nigerian Naira through bank transfers, fiat deposits, and P2P trading. Platforms offering NGN pairs and multiple ramping methods provide more flexibility for local users.
- Security & Transparency: We favored exchanges that offer robust security measures, like cold storage, 2FA, biometric authentication, and transparent Proof of Reserves.
- Trading Tools & Interface: We tested the platform layout and tools, favoring exchanges that combine advanced features with a clean, beginner-friendly experience.
- Low Fees: We compared maker and taker fees, P2P fees, and deposit or withdrawal costs. Exchanges with low and clearly stated fees help users keep more of their money.
- Liquidity: We reviewed trading volume, especially for NGN pairs. Deep liquidity means smoother execution, better pricing, and less slippage.
- Local User Support: We favored mobile-friendly platforms that support KYC with Nigerian phone numbers and local formatting to deliver a more tailored user experience.
- Customer Support: We tested support speed and quality, especially for Nigeria-specific issues like NGN transfers. Good customer service is essential for a hassle-free experience.
- Tax Reporting Tools: We looked for downloadable reports and clear trade histories to help Nigerian users stay organized and prepare for future tax requirements.
Best Crypto Exchanges in Nigeria Comparison Table
| Exchange | Ranking | Taker/Maker | Available Crypto | Accepts Fiat | Payment Methods | KYC |
|---|---|---|---|---|---|---|
Bybit | 4.6 Read Review | 0.1% / 0.1% | 0 | No | +2 | Yes |
Luno | 3.4 Read Review | 0.6% / 0.0% | 16 | Yes | +1 | Yes |
MEXC | 4.2 Read Review | 0.01% / 0% | 0 | No | +3 | No |
KuCoin | 4.2 Read Review | 0.1% / 0.1% | 938 | Yes | +2 | Yes |
Remitano | No Rating Read Review | 0.25% / 0.25% | 0 | No | +5 | Yes |
Best Overall
- -Available Crypto
- Payment Methods
- FeesHigh
Why We Picked It
Bybit is a Dubai-based exchange ranked among the global top five by trading volume. Known for high-leverage futures, deep liquidity, and expanding access in emerging markets, it’s a top pick for active traders in Nigeria and beyond.
- P2P Platform with NGN Support: It is possible to buy and sell crypto with NGN via local payment methods like Bank Transfer, PalmPay, and Opay on Bybit’s P2P platform.
- Range of Trading Instruments: Bybit offers spot trading, crypto futures with 100x leverage, as well as futures trading on forex, indices, stocks, and commodities, with up to 500x leverage.
- High Liquidity: High daily volume across spot and futures markets ensures fast, reliable execution at all times.
Pros and Cons
Pros
- Supports 700+ cryptos
- Offers spot, margin, futures & options trading
- Low trading fees (0.1% spot)
- Strong security & transparency
- NGN support via P2P
Cons
- No Lite Mode for beginners
- Not officially licensed in Nigeria
- Nigeria is listed as a restricted country for certain fiat services, including One-Click Buy.
Best for NGN Pairs
- 16Available Crypto
- Payment Methods
- FeesLow
Why We Picked It
Luno is a London-based exchange focused on African markets, especially Nigeria and South Africa. With over 15 million users, it offers a simple, user-friendly experience tailored to Nigerian traders.
- Direct NGN On/Off-Ramping: Luno supports direct bank deposits and withdrawals in Nigerian Naira, no third-party apps or P2P required.
- Built for Nigeria: Features a clean interface, savings wallet, and crypto education tools designed for emerging markets.
- Regulatory Compliance: Registered with the Nigerian Financial Intelligence Unit and licensed in South Africa, Uganda, and the UK.
Pros and Cons
Pros
- Spot and P2P trading available
- Direct NGN deposit and withdrawal
- Officially registered in Nigeria
- Beginner-friendly interface
Cons
- Only 50 supported cryptocurrencies
- Limited tools for advanced users
Best for Low Fees
- -Available Crypto
- Payment Methods+1
- FeesLow
Why We Picked It
MEXC is a Seychelles-based exchange, known for ultra-low fees, fast token listings, and a massive coin selection. It’s expanding in underserved regions like Africa, offering tools that suit both new and experienced traders.
- Lowest Fees in the Industry: 0% maker fees on spot and futures, with taker fees as low as 0.05% (spot) and 0.02% (futures). Users can save a further 50% by holding the exchange’s native MX token.
- P2P Platform with NGN Support: MEXC’s P2P platform features several merchants that support NGN, making it easy to buy and sell crypto directly with local payment methods like Bank Transfer, Palm Pay, and Opay.
- High Liquidity & Range of Coins: Supports 2,000+ cryptocurrencies with deep liquidity and high daily volume across spot and futures markets.
Pros and Cons
Pros
- Supports 2,000+ cryptos
- Offers spot, margin & futures trading
- 0% maker fees on all trades
- Strong security & transparency
- P2P Trading with NGN support
Cons
- No Lite Mode for beginners
- Not officially licensed in Nigeria
Best for Leverage Trading
- 938Available Crypto
- Payment Methods
- FeesHigh
Why We Picked It
KuCoin is a Seychelles-based exchange. While not officially licensed in Nigeria, it remains popular among Nigerian traders thanks to high-leverage markets.
- Range of Markets with High Leverage: KuCoin offers over 400 futures markets with up to 100x leverage.
- Advanced Trading Tools: Includes TradingView integration, trading bots, and advanced order types like Iceberg for complex setups.
Pros and Cons
Pros
- Supports 1,000+ cryptos
- Offers spot, margin & futures trading
- Low trading fees (0.1% spot)
- P2P Trading Platform
- Global region support
Cons
- No Lite Mode for beginners
- Not officially licensed in Nigeria
Best P2P Platform
No Rating Available
- -Available Crypto
- Payment Methods+3
- Fees-
Why We Picked It
Remitano is a P2P-focused platform built for users in Africa and Southeast Asia. It’s especially popular in Nigeria thanks to its verified merchant network, escrow-secured trades, and support for local payment methods. Users can also hold NGN directly in their Remitano wallet for seamless fiat-crypto conversion.
- P2P Platform Built for Nigeria: Remitano was designed specifically for African markets, offering the widest selection of P2P merchants with verified merchants and robust security with its secure escrow service.
- Local Payment Methods: Supports NGN through a wide range of Nigerian banks and local services like PalmPay and Opay.
- Integrated Wallet & Fiat Support: Users can hold Naira in their exchange wallet, reducing the need to transfer funds in and out between trades.
Pros and Cons
Pros
- Offers spot, P2P, and earn products
- P2P trading with NGN support
- Direct NGN support in wallet
Cons
- Only 27 supported cryptocurrencies
- Lower liquidity than competitors
- Limited features for advanced users
How to Choose the Best Crypto Exchange for Nigerian Traders?
What Is The Current State Of Crypto Regulation In Nigeria?
Crypto regulation in Nigeria is still evolving, and trading exists in a legal gray area.
The Central Bank of Nigeria (CBN) banned banks from facilitating crypto transactions in 2021 but eased this restriction in late 2023, issuing new guidelines that allow banks to work with crypto firms. However, the regulatory framework remains fragmented between the CBN and the Nigerian Securities and Exchange Commission (SEC), which may confuse users and increase risks.
Because of this, it’s important for Nigerian users to choose secure, well-established platforms that are licensed in other trusted jurisdictions.
What Crypto Taxes Do I Have To Pay In Nigeria And How Do I Report Them?
In 2023, the Nigerian government introduced a 10% capital gains tax on profits from digital assets, including cryptocurrencies. This tax applies when you realize a profit by converting crypto to fiat or swapping one token for another. However, the enforcement infrastructure is still evolving. Tax reporting tools and clear guidance are limited, which may confuse users and increase the risk of non-compliance.
Regulatory responsibility is also fragmented between the Central Bank of Nigeria (CBN) and the Nigerian Securities and Exchange Commission (SEC), adding another layer of uncertainty.
To stay compliant and prepare for tighter oversight, Nigerian crypto users should:
- Keep detailed records of all transactions (download trade histories from your exchange).
- Track gains and losses for each taxable event, such as fiat conversions and token swaps.
- Consult a tax advisor who specializes in Nigerian capital gains tax, especially if you trade in large volumes or earn significant profits.
How to Choose a Safe Crypto Exchange in Nigeria?
When choosing a crypto exchange in Nigeria, security and compliance should be your top priorities. Look for the following features:
- Licensing & Registration to ensure compliance with CBN regulations and AML laws
- Strong Reputation from trusted global exchanges
- NGN Support via bank transfer, payment gateways, or P2P trading
- Robust Security including cold storage, 2FA, and withdrawal whitelists
- Transparent Fees with no hidden charges
- User-Friendly Platforms for both desktop and mobile
- Proof of Reserves or other strong transparency practices
- Reliable Customer Support backed by positive user reviews
What NGN Payment Methods Can I Use on Crypto Exchanges in Nigeria?
Most crypto exchanges that serve Nigerian users support at least one of the following NGN payment options. Local exchanges operating in Nigeria typically offer multiple choices:
- NGN bank transfer: A widely supported option for depositing and withdrawing funds.
- Payment service: Includes popular mobile platforms like PalmPay and Opay, commonly used for fast and convenient transactions.
- P2P trading: Lets users buy or sell crypto directly using region-specific methods, such as bank transfers, payment apps, or even in-person cash.
However, not all exchanges (especially global platforms) support direct NGN deposits due to lingering regulatory caution. Always check available payment methods before choosing an exchange.
Is P2P Trading Available in Nigeria for Buying Crypto?
Yes, P2P trading is widely available and remains one of the most popular ways to convert NGN to crypto in Nigeria. Major exchanges like Bybit and KuCoin offer peer-to-peer platforms where users can trade directly with one another using local payment methods.
If you use P2P trading, always check merchant ratings, choose verified sellers, and use platforms that offer escrow services to protect your funds during the transaction.
What Fees Should You Consider When Choosing a Crypto Exchange?
When choosing a crypto exchange in Nigeria, look out for these common fees:
- Trading Fees: Maker and taker fees for placing or matching orders
- Deposit & Withdrawal Fees: For both crypto and NGN payments
- Spread Fees: Often included in Quick Buy or Sell, where rates can be less favorable
- Currency Conversion Fees: Charged when trading non-NGN pairs
Always check the fee schedule in advance and compare it across platforms to avoid surprises.
How to Avoid Crypto Scams?
To lower your risk of falling for a crypto scam, follow these essential tips:
- Use only licensed and registered exchanges
- Always double-check website URLs and turn on anti-phishing codes
- Set up two-factor authentication (2FA) with a trusted app like Google Authenticator
- Never share your password or recovery phrase with anyone
- Avoid any offer that promises guaranteed profits or sounds too good to be true
FAQ
What Is The Best Crypto Exchange In Nigeria?
Bybit is a top choice among Nigerian users thanks to its wide range of cryptocurrencies and P2P platform. Binance is also widely used, but it suspended NGN support in 2024 following regulatory concerns.
What Is The Best Exchange For Beginners In Nigeria?
Platforms like Remitano and Luno offer simple interfaces and local features, making them accessible for beginners looking to buy crypto with NGN.
Can I Deposit NGN Into A Crypto Exchange?
Yes, you can deposit NGN on certain exchanges, but options are limited. Luno is one of the few platforms that support direct NGN deposits without third-party services.
Are Deposits On Crypto Exchanges Insured?
Most crypto exchanges do not offer deposit insurance like banks. Some provide internal protection funds for platform-related incidents, but these do not cover user errors?
Do I Need To Complete KYC To Use Crypto Exchanges In Nigeria?
Yes, most major exchanges require KYC for fiat deposits or higher withdrawal limits. Non-KYC platforms exist, but they usually restrict fiat services and limit withdrawals.
About the Author
Shennon Hewaauthor
Shennon Hewa is a crypto trader and crypto journalist based in London. Active in the crypto space since 2017, he specializes in scalping, derivatives day trading, and swing trading. At FXEmpire, he has reviewed dozens of crypto exchanges and has extensive knowledge of platform strengths and weaknesses.
Why you can trust FX Empire
At FXEmpire, we strive to provide unbiased, thorough, and accurate exchange reviews by industry experts to help our users make smarter financial decisions.
Why you can trust FX Empire
Table of Contents
- List of Top Crypto Trading Platforms in Nigeria
- How Did FXEmpire Choose the Best Crypto Platforms in Nigeria?
- Best Crypto Exchanges in Nigeria Comparison Table
- Best Overall
- Best for NGN Pairs
- Best for Low Fees
- Best for Leverage Trading
- Best P2P Platform
- How to Choose the Best Crypto Exchange for Nigerian Traders?
- FAQ