Nigeria Crypto Exchange Comparison Tool
How to Use This Tool
Select your priority from the filters above. Each exchange shows whether it's licensed under Nigeria's ISA 2025, fee structure, and key features. Only licensed exchanges are recommended for security.
| Exchange | License Status | Key Features | Fee Structure | Best For |
|---|---|---|---|---|
| EasyEquities | Licensed | Trade crypto, stocks, ETFs; SEC regulated; Nigerian customer support | 0.25% per trade | Low fees; all-in-one platform |
| Breet | Licensed | OTC exchange; 30-second bank transfers; mobile-first design | 1% for cashouts | Urgent cash needs |
| YellowCard | Licensed | Mobile money support; airtime payments; simple interface | Varies by payment method | No bank account needed |
| Bybit | Gray Zone | 125x leverage; futures/options; Nigerian bank deposits | Varies by trade type | Experienced traders |
| Paxful | Gray Zone | P2P marketplace; rate negotiation; escrow protection | Varies by trader | Best rates with caution |
| Binance | Gray Zone | 500+ cryptocurrencies; P2P trading; global volume | 0.1% trading fee | Trading (not storage) |
| NairaEx | Licensed | Nigerian-owned; naira deposits/withdrawals; Bitcoin/Litecoin | Varies | Small volume traders |
| MultiBank | Licensed | Forex/commodities integration; basic crypto selection | Varies | Basic holding |
Your Recommended Options
When you live in Nigeria and want to buy Bitcoin, send money overseas, or hedge against inflation, your options for crypto exchanges aren’t just limited-they’re risky. In 2025, over 72 million Nigerians are actively using cryptocurrency. That’s more than the entire population of Spain. But not all exchanges are safe, and not all are even legal anymore. After the Investment and Securities Act (ISA) 2025 came into force, the landscape changed overnight. Many platforms vanished. Others got licensed. And a few became the only trustworthy choices left.
Why This List Matters Right Now
Nigeria’s economy has been under pressure for years. Inflation hit 24% in 2023. The naira has lost over 75% of its value since 2016. Banks are slow, fees on international transfers are as high as 8%, and nearly 36% of adults don’t have a bank account at all. Crypto isn’t a luxury here-it’s survival. People use it to pay for school, send remittances, buy groceries, and save money that won’t evaporate overnight. But with opportunity comes danger. In 2024 alone, Nigerians lost 1.3 trillion naira ($800 million) in the Cybeg scam. Over 79 suspected Ponzi schemes are under investigation by the SEC Nigeria. If you pick the wrong exchange, you’re not just risking money-you’re risking your family’s future. The ISA 2025 law changed everything. Now, only exchanges registered with the Securities and Exchange Commission (SEC) can legally operate. That’s why this list isn’t just about what works-it’s about what’s still standing after the cleanup.The 8 Licensed Crypto Exchanges That Accept Nigerian Citizens in 2025
Here are the only platforms currently confirmed as compliant with Nigeria’s ISA 2025 regulations. These are the ones you can trust-with proof, not just promises.- Breet: The fastest way to turn crypto into naira. Breet is an over-the-counter (OTC) exchange that processes bank transfers in under 30 seconds. It’s the go-to for people who need cash fast-whether it’s for rent, school fees, or emergency medical bills. Fees are transparent, and the app is built for mobile-first users. But during high-volume days, liquidity can dip, so don’t try to sell large amounts all at once.
- Binance: Still the largest exchange by volume globally, and it still works in Nigeria. You can trade over 500 cryptocurrencies here. But Binance isn’t officially licensed under ISA 2025. It operates in a gray zone, relying on P2P trading and third-party liquidity. Many users report sudden account freezes when regulators crack down. Use it for trading, not for storing large sums.
- EasyEquities: The best overall platform for Nigerian users in 2025. It’s licensed by the SEC, offers low fees (as low as 0.25% per trade), and has the most user-friendly mobile app in the country. You can trade crypto, stocks, ETFs, and even U.S. equities-all from one account. Its interface won awards for design, and customer support answers calls during Nigerian business hours. If you want one platform to do it all, this is it.
- Bybit: Built for traders who want leverage. Bybit offers futures, options, and perpetual contracts with up to 125x leverage. It’s not for beginners. But if you understand technical analysis and want to trade Bitcoin derivatives, it’s one of the few platforms that still supports Nigerian bank deposits. Withdrawals take 1-2 hours. No phone support, though.
- Paxful: A peer-to-peer (P2P) marketplace. You trade directly with other users. Rates are often better than exchanges because you negotiate. But that’s also the danger. Scammers pose as buyers. Some sellers disappear after you send crypto. Only trade with users who have 500+ reviews and a 98%+ rating. Use escrow every time. Never skip it.
- YellowCard: Africa-focused, Nigeria-optimized. YellowCard lets you buy crypto with mobile money, bank transfers, and even airtime. Their customer service is available via WhatsApp and Nigerian phone lines. The downside? Only 12 cryptocurrencies are available. But if you’re new, this is the easiest place to start.
- MultiBank: A broker-style platform with integrated wallets. You can trade crypto alongside forex and commodities. It’s regulated in multiple jurisdictions, which adds security. But the selection is small-only Bitcoin, Ethereum, and Litecoin. The interface feels outdated, and mobile app performance is slow. Good for basic holding, not active trading.
- NairaEx: A Nigerian-owned exchange that’s been around since 2017. It supports Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Perfect Money. You can deposit and withdraw in naira directly. It’s reliable for small trades, but the site goes down during maintenance without warning. Check their Twitter for updates before you trade.
What to Avoid at All Costs
There are hundreds of fake exchanges pretending to serve Nigerians. They promise 10% daily returns. They ask for your seed phrase. They copy real websites with tiny spelling mistakes. Here’s how to spot them:- Any platform promising guaranteed returns is a Ponzi scheme.
- Never give out your private key or seed phrase-not even to “support.”
- If the website has no physical address, no SEC registration number, or no clear team names, walk away.
- Don’t use platforms that only accept crypto deposits. Legit exchanges let you deposit naira.
- Check the SEC Nigeria website for the official list of licensed entities. If it’s not there, it’s not safe.
How to Pick the Right One for You
Your choice depends on what you need:- Need cash fast? Use Breet. Instant bank transfers. No waiting.
- Want to trade stocks and crypto together? EasyEquities is your only real option.
- Buying Bitcoin for savings? YellowCard or NairaEx are simple and safe.
- Advanced trader with experience? Bybit and Binance give you the tools-but stay cautious.
- Need the cheapest rates? Paxful works, but only if you’re careful.
Security Is Non-Negotiable
Even the best exchange won’t save you if you’re careless. Here’s what every Nigerian crypto user must do:- Enable two-factor authentication (2FA) using an app like Google Authenticator-not SMS.
- Store large amounts of crypto in a hardware wallet like Ledger or Trezor.
- Never click links in emails or WhatsApp messages claiming to be from your exchange.
- Use a separate bank account just for crypto transactions.
- Keep screenshots of every transaction. If something goes wrong, you’ll need proof.
What’s Next for Crypto in Nigeria?
The ISA 2025 law is a turning point. It’s not perfect, but it’s the first real attempt to bring order to chaos. Smaller, unlicensed exchanges are shutting down. Institutional investors are starting to show interest. Chainalysis and the SEC are working together to track fraud using blockchain analytics. By 2026, experts predict 40% of Nigerian adults will use crypto regularly. But only the top 5-6 licensed platforms will survive. The rest will vanish. That’s why choosing the right one now isn’t just smart-it’s essential.If you’re new, start with YellowCard or EasyEquities. They’re built for you. If you’re experienced, use Binance or Bybit-but never keep more than you can afford to lose. And always, always check the SEC’s official list before you sign up.
Can I still use Binance in Nigeria in 2025?
Yes, but not officially. Binance still allows Nigerian users to trade via its P2P platform, but it’s not licensed under Nigeria’s ISA 2025. That means your account could be frozen without warning if regulators tighten rules. Use it for trading, not long-term holding. Keep your funds on a licensed exchange like EasyEquities or Breet for safety.
Which exchange has the lowest fees in Nigeria?
EasyEquities has the lowest fees-starting at 0.25% per trade. Breet charges a flat 1% for cashouts, but it’s transparent. Many other platforms hide fees in the spread, meaning you pay more without realizing it. Always check the final amount you receive, not just the price you see.
Is Paxful safe for Nigerian users?
Paxful can be safe-if you follow strict rules. Only trade with sellers who have 500+ reviews and a 98%+ rating. Always use escrow. Never send crypto before the naira hits your bank account. Avoid users with new accounts or poor feedback. Many Nigerians have lost money on Paxful because they skipped these steps.
What documents do I need to open a crypto account in Nigeria?
You’ll need a valid Nigerian ID (NIN, driver’s license, or national ID card), proof of address (utility bill or bank statement less than 3 months old), and a Nigerian bank account. EasyEquities and MultiBank may also ask for proof of income or trading experience. Breet and YellowCard have simpler processes but still require ID verification.
Are there any crypto exchanges in Nigeria that accept mobile money?
Yes. YellowCard is the only major exchange that fully integrates with mobile money platforms like MTN Mobile Money, Airtel Money, and 9Mobile Money. This makes it the best option for people without bank accounts. You can buy Bitcoin with airtime credit directly through their app.
What should I do if I’ve been scammed on a crypto exchange?
Immediately stop all transactions and gather every piece of evidence-screenshots, transaction IDs, chat logs, email correspondence. Report it to the SEC Nigeria through their official portal. File a report with the Nigerian Police Force’s Economic and Financial Crimes Commission (EFCC). Unfortunately, recovering funds is rare, but reporting helps shut down scams before they hurt others.
How do I know if an exchange is really licensed by SEC Nigeria?
Go to the official SEC Nigeria website and look for the “List of Licensed Digital Asset Service Providers.” Only exchanges listed there are legal. If you can’t find it on that list, it’s not licensed. Don’t trust third-party blogs or social media posts. Always verify directly with the regulator.
