Busha vs Quidax: which Nigerian exchange should you use?

Quidax is the cheaper of the two to put naira in, and it's the only one of the pair that publishes a trading fee: 0.1% for both sides of a trade, dropping to 0.07% for makers on USDT/NGN and USDC/NGN. Busha is cheaper to take naira out, at ₦107.50 against Quidax's ₦250, and it carries more products around the trading. Daya Coins is a third option, and like Busha it doesn't publish a trading fee, where Quidax publishes 0.1%. It buys direct from a Nigerian naira account with no minimum.

Every figure on this page came off Busha's and Quidax's own published pages on 14 September 2026. If you're new to this, buying and selling USDT and USDC in Nigeria covers how the whole thing works before you pick a platform.

What does it cost to use Busha, Quidax and Daya Coins?

Busha charges ₦150 to deposit naira and ₦107.50 to withdraw it. Quidax charges nothing to deposit naira beyond whatever your own bank charges for the transfer, and ₦200 to withdraw, plus ₦50 government stamp duty on amounts of ₦10,000 and above. On the trade itself, Quidax charges 0.1% and Busha doesn't publish a figure. Daya Coins doesn't publish one either.

Which one is cheaper to move naira in and out of?

On naira charges alone the two land in almost exactly the same place. Put ₦100,000 in and take ₦100,000 back out, and Busha costs you ₦257.50 while Quidax costs ₦250 plus whatever your bank charges to send the transfer.

Which one suits you depends on how you actually use the account:

• If you top up often and cash out rarely, Quidax's free deposits save you ₦150 every time you fund.
• If you cash out often, Busha's ₦107.50 withdrawal is less than half Quidax's ₦250, and that adds up faster than the deposit difference does.
• If you withdraw under ₦10,000 at a time, Quidax's stamp duty doesn't apply, so its withdrawal drops to ₦200.

What you can't price on Busha is the trade in between. On Quidax, a ₦100,000 buy costs ₦100 at the standard 0.1%, or ₦70 at the 0.07% maker rate on USDT/NGN. On Busha there's no published figure to run the same sum on.

Which one publishes its trading fee?

Quidax does and Busha doesn't. Quidax's fee page states 0.1% for both maker and taker on standard pairs, 0.07% for makers on USDT/NGN and USDC/NGN, and no fee at all on Instant Swap. Busha publishes naira deposit, naira withdrawal and per-coin sending fees, but no buy or sell fee anywhere.

What it means for you: when an exchange doesn't publish a trading fee, the cost is usually built into the rate you're quoted rather than shown as a separate line. You still pay it. You just can't work out how much before you press buy, and you can't compare it against anyone else's.

You can still check it yourself. Look at the buy price and the sell price for the same coin at the same moment. The further apart they are, the more the platform is taking out of your money.

Are Busha and Quidax both licensed in Nigeria?

Both hold approval from Nigeria's Securities and Exchange Commission, and they were the first two exchanges in the country to get it. In August 2024 the SEC granted Busha Digital and Quidax Technologies approval-in-principle under its Accelerated Regulatory Incubation Programme, a scheme for firms that were already operating before the virtual asset rules came in.

The wording each company uses today is worth reading closely. Busha's site calls it being "Nigeria's pioneering SEC-licensed digital assets provider". Quidax's site says it is "the first crypto exchange to receive a provisional Digital Assets Exchange license by Nigeria's SEC". Both descriptions refer to the same August 2024 approval.

What it means for you: both companies operate under SEC oversight rather than outside it, which is the main practical difference between either of them and an offshore exchange with no Nigerian standing. It isn't a guarantee about your money, and a provisional approval isn't the same thing as a full licence.

What can you do on Busha that you can't on Quidax?

Busha is the broader app of the two. Alongside trading, Busha advertises 80+ digital assets, savings products, a virtual USD card and bill payments, all in the same place. Quidax is narrower and more focused on the trading itself.

• Busha Spend. A virtual USD card that Busha says works wherever Visa is accepted, plus airtime, data, electricity and voucher payments.
• Savings. Busha advertises up to 20% a year on naira savings and 7.5% a year on USD savings. Those are Busha's own advertised rates rather than guaranteed returns, so read the terms in the app before you move money into them.
• Scale. Busha's site claims more than 1 million users. Quidax doesn't publish a user number.
• A published sending-fee table. Busha lists a fixed fee per coin and per network, so you can check the cost of a transfer before you make it.

What can you do on Quidax that you can't on Busha?

Quidax gives you more control over how a trade is placed and what it costs. The published maker and taker fees mean you can work out the cost in advance, and the separate pro platform gives you an orderbook rather than a single buy button.

• A published fee you can calculate. 0.1% standard, 0.07% as a maker on the two naira stablecoin pairs.
• Free naira deposits. You pay only what your own bank charges to send the transfer.
• USDT staking. Quidax advertises up to 10% APR on USDT, with flexible and fixed plans starting from 5 USDT. Again, that's an advertised rate, not a promise.
• A pro trading platform. Quidax runs a separate orderbook platform at pro.quidax.io alongside the main app.

So should you use Busha or Quidax?

Pick Quidax if the cost of the trade matters most to you, because it's the only one of the two you can price in advance. Pick Busha if you cash out to naira regularly, or if you want a card and bill payments in the same app. It depends on what you're actually doing with the account:

1. Buying and holding USDT or USDC. Quidax. The 0.07% maker fee on USDT/NGN and USDC/NGN is the cheapest published rate between the two, and free deposits help if you're topping up monthly.
2. Cashing out to naira often. Busha. At ₦107.50 a withdrawal against ₦250, the gap is ₦142.50 every time, which is roughly ₦1,700 over a year of weekly cash-outs.
3. Wanting a card and bills in the same app. Busha. Quidax doesn't advertise a card or bill payments.
4. Trading actively rather than buying occasionally. Quidax, for the orderbook and the maker rate.
5. Sending USDT out to a wallet regularly. Busha, because the sending fee is published per network so you can check it first. Busha charges 5 USDT on TRC20 against 2 USDT on Ethereum, BNB Chain and Solana, which is worth knowing before you pick a network.

That last point catches a lot of people out, because TRC20 has a reputation for being the cheap network and on Busha it currently isn't. TRC20 vs ERC20 vs BEP20 goes through which network to pick and what happens if you get it wrong.

Where does Daya Coins fit?

Daya Coins sits in the same category as Busha and Quidax, for buying and selling crypto in Nigeria without arranging a trade with a stranger. You fund from a naira account and buy directly, with no peer-to-peer step in the middle, and there's no minimum.

On the one thing this page is built around, Daya Coins loses. It doesn't publish a trading fee, so you can't price a Daya Coins trade before you make it any more than you can price a Busha one.

Daya Coins is stronger on funding and on what you can buy. You buy straight from a Nigerian naira account with no minimum, and you can buy tokens that aren't on Busha's or Quidax's list by pasting a contract address or a DexScreener link. Buying and selling stablecoins in Nigeria covers the options in more detail.