Busha alternatives in Nigeria

Seven Nigerian apps cover some or all of what Busha does: Quidax, Daya Coins, Roqqu, Luno, Breet, Obiex and Monica Cash. Daya Coins charges no buy fee, no sell fee, no withdrawal fee and no network fee on your side, against ₦150 to put naira into Busha and ₦107.50 to take it out.

Busha here means Busha Digital Limited, the Nigerian exchange that runs both busha.io and busha.co. Which one you land on matters, because the two pages print different numbers for the same product. Every figure below came off each company's own pages on 13 October 2026, and where a company's two pages disagree, both readings are here.

What does Busha actually do, and what would you be giving up?

Busha does seven separate jobs: buy crypto with naira, sell it back, move naira in and out of a Nigerian bank, send and receive on-chain, earn yield on stablecoins, borrow against your holdings, and spend through a dollar card. No single app on this page replaces all seven, which is why "the best Busha alternative" depends entirely on which part you use.

Busha publishes its naira and network fees on its developer documentation: ₦150 to deposit naira, ₦107.50 including VAT to withdraw it, and 1 to 3 USDT to send USDT depending on the network. What it doesn't publish anywhere is a trading fee. Its consumer pages say "low fees", and the fee schedule has rows for deposits, withdrawals and network charges and no row for buying or selling.

That matters more than it sounds, because a buy or sell is the thing you'll do most often, and an app that doesn't print a trading fee is earning on the rate instead. You can't compare that against another app's rate in advance. The only way to see it is to quote the same purchase in two apps and compare the naira.

What does each Busha alternative charge?

Quidax charges 0.1% to trade on its order book and nothing on an instant swap. Daya Coins charges nothing on your side on a buy or a sell. Roqqu charges a flat 2%, Luno 2% on an instant buy or sell, and Breet 1.5% falling to 0.5% as the sale gets bigger. Monica Cash charges 0% and only sells.

Roqqu is the odd one on that table and it's worth saying why. It's the cheapest of the lot on moving money in and out, at nothing either way, and roughly twenty times the price of Quidax on the trade itself. If you buy rarely and withdraw often, that arithmetic favours Roqqu. If you trade weekly, it's the most expensive app here.

What does it cost to move naira in and out?

Busha charges ₦150 to deposit naira and ₦107.50 to withdraw it. Quidax deposits are free and withdrawals are ₦200 plus ₦50 of stamp duty from ₦10,000 upwards. Luno charges ₦150 to deposit by bank transfer and either ₦300 or ₦500 to withdraw, depending which part of its own page you read. Roqqu charges nothing either way, and Daya Coins charges no withdrawal fee.

These are the numbers you pay every single time, and they're missing from every round-up currently ranking for this query. On a ₦200,000 withdrawal they're small. On twenty ₦50,000 withdrawals a month they're the whole difference between two apps, and unlike a trading fee hidden in a rate you can check them before you sign up.

Luno's contradiction is the one to be careful with, because the gap is nearly double. Its Nigerian fees page shows ₦300 excluding VAT in the fee table and ₦500 excluding VAT in the explanatory text directly below it, with no indication which is current. Confirm it in the app before you rely on either, and treat the higher figure as the one to budget for.

Which trading fee applies to you, maker or taker?

On an order book there are two prices and most round-ups quote only one. A maker posts an order and waits; a taker fills an order that's already there. If you buy or sell at the price showing on screen, you're the taker, and the taker fee is the one you pay.

That changes the ranking on two of these apps:

• Quidax prints 0.07% for USDT and USDC against the naira, and that is the maker side only. Its taker fee is 0.1%, which is what you'll actually pay on a normal buy or sell. Its instant swap is free.
• Luno pays a maker rebate of 0.01% on USDT and USDC against the naira, meaning it pays you to post an order, and charges 0.10% to take one on its exchange. Its instant buy and sell, which is the screen most people use, is 2%.
• Roqqu's 2% isn't an order-book fee at all, so no side applies. Same flat price whichever way you trade.

Luno's split is the sharpest thing on this page for anyone used to tapping buy. Twenty times the price sits between Luno's instant buy screen and Luno's own exchange, on the same app, with the same money.

Where does Daya Coins fit?

Daya Coins suits the Busha user who buys and sells and wants the price on the screen to be the price. It buys from your own Daya naira account with no peer-to-peer and no minimum, sells and pays the naira out to a Nigerian bank account, and carries the majors, stablecoins, memecoins and viral tokens, with any token buyable by pasting its contract address or a DexScreener link.

On what it charges, daya.co/coins says it plainly: "There is no buy fee, no sell fee, no withdrawal fee and no network fee on your side", and "We make our money on the spread built into the rate you see." That last sentence is true of every app on this page that charges you nothing, and Daya is the one saying it out loud. So compare the naira you'd receive rather than the fee line.

Where Daya Coins isn't the pick. A trader who wants to post a limit order and be paid a rebate for it wants an order book, so Luno's exchange or Quidax is the better screen, and Daya Pro is the Daya product built for that. If the reason you're on Busha is the Earn wallet, Quidax publishes a yield on USDT and Busha pays on stablecoins. And if you're buying a token by pasting an address, check that address against a second source first, because anyone can create a token with a familiar name.

Which of these apps is actually approved by the SEC?

Luno is the only one of these with a documented approval, and it's the one that doesn't advertise it. The Securities and Exchange Commission granted Luno Fintech Nigeria Limited an approval-in-principle on 2 July 2026, one of seven firms named in its own circular. The SEC's wording is worth keeping: an approval-in-principle "is not a final licence".

Busha and Quidax both describe themselves as SEC-licensed. The SEC's own register of registered fintech operators lists Busha Digital Limited and Quidax Technologies Limited as digital asset exchanges under the Accelerated Regulatory Incubation Programme, which is an incubation programme rather than a licence. Quidax's own 2024 press release is more careful than its homepage, calling it a provisional operating licence.

The rest publish less than that. Breet states that its application for admission to the programme is pending. Roqqu makes no status claim on its site, though its complaints page says it submits quarterly reports to the SEC. Obiex's terms never mention the SEC at all. Monica Cash says it's "aligned with" the SEC's virtual asset service provider framework, which describes an intention rather than a status.

So the standard advice to check the register is right, and it will surprise you. Look up whichever app you're using on the SEC's register yourself, read what the company claims next to what the register says, and remember the register itself runs behind: it was published in May 2025 and doesn't yet carry the seven firms approved in July 2026. There's more on how the rules work in our guide to whether crypto is legal in Nigeria.

What if you only want to sell crypto and get naira?

Monica Cash is the fastest and the cheapest for that one job: 0% to convert, 0% to withdraw, and naira in your account in 5 to 10 seconds at a digital bank or 30 to 60 seconds at a tier one bank. You pay only the network fee to send the coin in. What it can't do is buy, so it replaces half of Busha and not the other half.

Breet also sells, on a size-based fee that falls from 1.5% to 0.5% above $5,000, and it now buys USDT and USDC too from a $10 minimum. Daya Coins does both sides and pays naira out to a Nigerian bank with no withdrawal fee. There's a fuller comparison of the cash-out route in our round-up of apps that sell USDT for naira.

What if you're selling $5,000 or more?

At that size you're not a retail buyer any more and the rate matters far more than the fee. Daya Pro is the Daya product for it: a USDT and naira order book with market and limit orders, from $1, at 0% on the taker side and 0.05% on the maker side. Obiex and Quidax both run desks, with minimums of $50,000 and above $100,000.

That gap between $5,000 and $50,000 is a real hole in this market, and we've worked through who will actually quote a trade that size.

Which Busha alternative should you use?

Pick by the part of Busha you actually use, because no app here covers all seven jobs. Match your situation to this list:

• You buy and sell and want no fee on your side: Daya Coins, which charges nothing on a buy, a sell or a withdrawal.
• You want a published trading fee you can check before you trade: Quidax at 0.1% taker, or Breet's 1.5% to 0.5% by size, which is the only fee here that falls as the amount grows.
• You post limit orders rather than tapping buy: Luno's exchange, which pays a 0.01% maker rebate on naira stablecoin pairs, or Quidax at 0.07% maker.
• You withdraw naira often and trade rarely: Roqqu, at nothing in and nothing out, as long as you can live with 2% on the trade.
• You only want to cash out: Monica Cash, at 0% and under a minute to a Nigerian bank.
• You're on Busha mainly for the Earn wallet: Quidax, which publishes a yield on USDT, though see the warning below.
• You're selling $5,000 or more: Daya Pro, at 0% taker and 0.05% maker.

One warning on yields before you move money for one. Busha prints "up to 18% annual interest" on busha.io and "up to 7.5% APY" on busha.co, and its help centre says 7.5%. Quidax prints "up to 7% APY" in one part of its Earn page and "up to 10% APR paid daily" in another. When a company prices its own yield two ways, treat the higher number as a risk you can't size, and don't choose an app on it.

Whichever you pick, do the same thing first: quote the same buy or the same sale in two apps on the same screen, and compare the naira at the end. That's the only comparison that catches what a published fee can't show you.