Luno alternatives in Nigeria

The main Luno alternatives in Nigeria are Quidax, Daya Coins, Busha and Breet. Luno hasn't left Nigeria and naira deposits and withdrawals still work, so this is a question of price rather than access. Luno charges 2% to buy or sell instantly and ₦300 to move naira out. Daya Coins charges no buy fee, no sell fee and no withdrawal fee.

Every fee here came off each platform's own fee or help pages on 24 September 2026. For how buying and selling stablecoins works in the first place, the Nigerian's guide to stablecoins covers the ground before you pick an app.

Is Luno still available in Nigeria?

Yes. Luno still serves Nigerian customers, and you can still deposit and withdraw naira. Its Nigeria page advertises buying and trading with naira, its fees and limits page for Nigeria lists naira bank deposits and withdrawals, and a maintenance issue that delayed Nigerian withdrawals in early September 2026 was marked resolved on 14 September.

If anything, Luno has been moving the other way. In July 2026 Luno Fintech Nigeria was reported as one of seven firms granted an approval in principle under the Securities and Exchange Commission's Accelerated Regulatory Incubation Programme, and in September 2026 Luno relaunched its Nigerian exchange with a temporary zero-fee trading promotion. So if someone told you Luno was pulling out, that isn't what happened.

What that means for you: you don't have to move in a hurry. You can take your time comparing what you'd actually pay somewhere else.

Why do people look for a Luno alternative?

Cost, mostly, and specifically the 2% Luno charges on its instant buy and instant sell. On a ₦500,000 purchase that's ₦10,000 gone before the price moves at all. The rest of the reasons come down to friction rather than money.

The complaints that come up most:

• The 2% instant buy and sell fee, which is what most people use because it's the simplest button in the app.
• ₦300 plus VAT to withdraw naira to your bank, where Quidax charges ₦200 and some apps charge nothing.
• Not being able to send crypto out straight after signing up. Luno says Nigerian users at the first verification level can't send crypto until they're fully verified, and then only after 24 hours.
• Naira withdrawals taking 6 to 12 hours to reach the bank, by Luno's own estimate, when several Nigerian apps settle in minutes.
• The OTC desk, for anyone trading size, starting at $50,000. Below that you're back on the ordinary app paying ordinary fees.

None of that makes Luno a bad app, and its exchange fees are genuinely low if you use the exchange rather than the instant buttons. The gap between those two prices inside the same app is the thing most people never notice.

What does Luno charge in Nigeria?

Luno charges 2% on an instant buy or an instant sell, and 0.10% as a taker on its exchange, dropping to 0.05% at high volume. A taker is someone who accepts a price already sitting on the order book; a maker is someone who posts a price and waits. Luno pays its makers a small rebate on stablecoin pairs rather than charging them.

The rest of its published charges:

1. ₦150 plus VAT to deposit naira by bank transfer.
2. ₦300 plus VAT to withdraw naira to your bank, with a minimum of ₦1,500 and a ceiling of ₦100 million.
3. Voucher deposits at 2% capped at ₦2,000 up to ₦5 million, then ₦3,000 above that.
4. Instant buy and sell limits running from ₦50 up to ₦60 million.
5. Crypto receives free, and crypto sends charged at a rate that moves with the network rather than a fixed figure.

Luno relaunched its exchange in September 2026 with a temporary zero-fee promotion on every pair, so the trading fee you see in the app may be lower than the published one while that runs. It's worth checking in the app on the day, because a promotion is a reason to try something rather than a reason to stay.

Which Nigerian apps can you use instead of Luno?

Quidax, Daya Coins, Busha and Breet are the four Nigerian apps a Luno user would realistically move to. All four let you buy or sell crypto and get naira into a Nigerian bank account, and none of them needs you to haggle with a stranger to do it.

Quidax is the best-documented of the Nigerian platforms and the easiest to check yourself: its fee page carries a date and a figure for every line. Busha publishes its naira and per-network charges but not a trading percentage, and neither Breet nor Roqqu publishes a fee schedule you can read before you sign up. When a price isn't published, the way to find out is to run a small trade and compare the naira you get against another app on the same day.

A note on who's missing. Binance ended all naira services in March 2024, so it isn't an option for depositing or withdrawing naira however much you liked it. Yellow Card still serves Nigeria but has moved towards serving businesses rather than individuals.

Where does Daya Coins fit?

Daya Coins is the one here with no fee on any of the four steps. Its page says there's no buy fee, no sell fee, no withdrawal fee and no network fee on the customer's side, and that Daya makes its money on the spread built into the rate you're quoted. Against Luno's 2% instant buy and ₦300 withdrawal, that's a straightforward comparison to run.

What it does:

• Buying straight from your own Daya naira account, with no peer-to-peer and no minimum.
• Selling crypto and having the naira paid out to a Nigerian bank account.
• The major coins and stablecoins, plus memecoins and viral tokens.
• Buying any token by pasting its contract address or a DexScreener link, which is covered further down.
• Sending crypto out to an external wallet on supported networks.

Because the cost is in the rate rather than in a fee line, the number to compare isn't a percentage: it's the naira that lands in your bank. Buy or sell the same small amount on two apps on the same day and the difference shows up immediately. That's the right test for any app on this page, Daya included.

Where it isn't the answer: if you're selling more than about $5,000 at a time, you want an order book rather than a buy button, and the section below covers that.

Which of these still lets you trade naira with another person?

Almost none of them, and that's the biggest change in the Nigerian market in the past two years. Peer-to-peer trading, where you match with another person and send naira to their bank directly, has been closing down across the board.

1. Binance ended naira deposits, naira withdrawals and its naira peer-to-peer pairs in March 2024.
2. Quidax discontinued its peer-to-peer service on 23 January 2026, moved everyone's P2P balances into their spot wallet, and pointed users at its instant swap and order book instead.
3. Luno, Busha, Breet and Daya Coins don't run peer-to-peer at all. You buy from or sell to the platform.

What it means for you: the choice now is between an app that quotes you a price and an order book where you set your own. Buying from an app is simpler and you pay for that in the spread. An order book takes a little learning and usually costs less. Busha vs Quidax and how to convert USDT to naira both go through the mechanics.

Which Nigerian crypto exchanges are actually licensed?

Two, and neither holds a full licence. The Securities and Exchange Commission's own register of fintech operators lists Busha Digital Limited and Quidax Technologies Limited as digital asset exchanges under its Accelerated Regulatory Incubation Programme, checked on 24 September 2026. That programme grants an approval in principle, which the SEC describes as conditional clearance to operate rather than a finished registration.

What it means for you: when an app's homepage says "licensed by the SEC", the accurate version is usually that it holds a conditional approval in principle. That's a real thing and it's better than nothing, but it isn't the same as a full licence, and knowing the difference is worth more than any marketing line on a homepage.

Luno's approval in principle was reported in July 2026 rather than confirmed on the SEC register, which lists neither Luno nor Roqqu nor Breet as of 24 September 2026. Registers lag announcements, so treat an absence as a reason to check rather than as a verdict.

What does it cost to sell USDT and get naira in your bank?

Take ₦1 million of USDT you want to turn into naira. The fee you pay depends on which of the four steps each platform charges for: the sale itself, the spread between the platform's price and the market price, the naira withdrawal, and the network fee if you're moving the USDT in from somewhere else.

1. On Luno's instant sell, the 2% takes ₦20,000, then ₦300 plus VAT to withdraw. The spread sits inside the quoted price on top of that.
2. On Quidax's order book, 0.07% takes ₦700 on a USDT to naira trade, then ₦200 plus the ₦50 stamp duty to withdraw. An instant swap carries no fee, with the cost in the rate instead.
3. On Daya Coins, there's no sale fee and no withdrawal fee, and the cost is in the rate you're quoted.

Sending the USDT in has its own cost, and the network you choose matters more than most people expect. Busha's published send fees run from 1 USDT on BNB Chain and Solana to 3 USDT on Ethereum and Tron, so picking the wrong network on a small transfer can cost more than the trade. How to buy USDT in Nigeria covers which network to use.

What if you're selling more than $5,000 at a time?

Then you want an order book or a desk, not a buy button, and this is where the Nigerian market has an awkward gap. Daya Pro runs a USDT against naira order book with a $1 minimum, charging 0% as a taker and 0.05% as a maker. Luno's OTC desk starts at $50,000. Quidax's desk describes itself as being for trades above $100,000.

So a trader moving $5,000 to $50,000 is too big for a retail buy button, where the spread on that size gets expensive, and too small for every formal desk in the market except one. If that's you, Quidax OTC alternatives for P2P merchants works through the desks and their minimums in detail.

If you're selling a few hundred dollars at a time, ignore all of this. A retail app is the right tool and an order book is more work than it's worth.

Can you buy memecoins and new tokens?

Not on Luno. Luno carries the major coins and stablecoins, which suits most people and means you're never going to fat-finger your way into something worthless. Daya Coins carries the majors and stablecoins too, plus memecoins and viral tokens, and lets you buy any token by pasting its contract address or a DexScreener link.

That flexibility comes with a real risk attached, so it's worth saying plainly: anyone can create a token and give it a familiar name. A contract address is the only thing that identifies a token uniquely, and a name or a logo isn't. Before you paste an address, check it against the project's own website or its official channel, not against a post someone sent you. Getting that wrong is the most common way Nigerians lose money on new tokens, and no platform can undo it for you.

If you mainly hold Bitcoin, Ethereum and USDT, none of this changes your decision. Roqqu alternatives in Nigeria covers the same ground from another app's side.