Quidax alternatives in Nigeria

Quidax closed peer-to-peer trading on 23 January 2026, and the Nigerian apps that cover what it does are Busha, Daya Coins, Luno, Roqqu, Breet and Monica Cash. Quidax charges 0.1% maker and taker on its order book and nothing on an instant swap, where the cost sits inside the rate instead.

Daya Coins charges no buy fee, no sell fee, no withdrawal fee and no network fee on your side, and it has no minimum, against ₦2,000 to buy on Quidax and ₦250 on Busha.

Why do people look for a Quidax alternative?

Two reasons, and the first one has a date on it. Quidax discontinued its peer-to-peer service on 23 January 2026, closed all remaining merchant ads by 14 January, and moved any P2P balances left behind into users' Spot wallets. If you traded naira with other people on Quidax, that way of buying and selling is gone and it isn't coming back.

Quidax's own notice gives its reason as focusing on what matters most to its customers, and says the vast majority of its community uses other, faster trading methods on the platform. The notice then points those users at two places: instant swap and the order book. That matters more than it sounds, because those two routes are priced completely differently, and the one Quidax lists first is the one whose cost you can't look up.

The second reason is the rate. On an instant swap Quidax charges no fee at all, so the only cost is the gap between the rate you're shown and the rate Quidax is working from. Quidax doesn't state that gap anywhere. That isn't unusual, and it's worth knowing that an app charging you nothing is earning on the rate instead. Daya Coins says this about itself in its own words on daya.co/coins: there is no buy fee, no sell fee, no withdrawal fee and no network fee on your side, and Daya makes its money on the spread built into the rate you see.

What does Quidax actually charge?

Quidax has three ways to buy and sell, and they cost three different things. If you've concluded Quidax is expensive, it's worth checking which of the three you've been using, because the cheapest published rate on the platform is 0.07% and the route most people take publishes no rate at all.

1. Instant swap. No fee on top of the rate. Quidax states there's no fee and that you see the equivalent value at the point of swap. The quote is live for 11 seconds, after which you have to requote. The whole cost sits in the rate, and Quidax doesn't state the margin.
2. Order book. 0.1% as a maker and 0.1% as a taker, and 0.07% as a maker on USDT against naira and USDC against naira. Quidax publishes no taker rate for those two pairs, so assume 0.1% if you're buying into the book. A market order makes you the taker.
3. OTC desk. For trades above $100,000, settling in USDT or local currency. Quidax publishes no fee and no trading hours for the desk.

Naira in and out is separate from all three. Quidax charges nothing to deposit naira by bank transfer, beyond whatever your own bank charges. Taking naira out costs a flat ₦200, plus ₦50 stamp duty on amounts of ₦10,000 and above. Quidax gives you an hour to pay once it shows you the deposit details, and says to allow 30 minutes to an hour for a withdrawal.

One thing to treat carefully if you hold USDT in Quidax Earn. Quidax states three different yields for the same product on its own site today: up to 7% APY in the hero of its Earn page, up to 10% APR in its site navigation, and up to 10% APR paid daily on a feature card on that same Earn page. None of the three carries a date. The minimum stake is 5 USDT, and the Flexible plan can be withdrawn at any time. Treat the higher figure as a number you can't price until Quidax reconciles the three.

Which apps can you use instead of Quidax?

Seven Nigerian apps cover some or all of what Quidax does. The split that decides most of this is whether an app buys as well as sells. Monica Cash only sells, so it can't replace Quidax on its own. Breet buys USDT and USDC only. Busha, Daya Coins, Luno and Roqqu all buy and sell the range.

Two of those cells are worth reading twice. Busha is the app most often recommended as the Quidax replacement, and Busha publishes every naira fee it charges except the one an active trader pays most: there's no trading fee anywhere across its marketing site, its help centre or its developer docs. Luno publishes a maker rebate of 0.01% on USDT and USDC against naira, which means Luno pays you to post an order rather than charging you, and that's the only negative fee among the apps here.

Luno's naira withdrawal is stated two ways on one page, and you'd act differently on each. Luno's fee table says ₦300 excluding VAT, and the notes further down the same article say a ₦500 provider fee excluding VAT per withdrawal. The article carries no date, so there's no way to tell which is newer. Check the figure in the app before you move money out.

Busha against Quidax head to head and the fuller set of Busha alternatives both go deeper on those two apps than there's room for here.

What is the smallest amount you can trade on each app?

The minimums are 40 times apart across these apps, and every figure is published. Luno takes an instant buy from ₦50 and Quidax takes a buy from ₦2,000. If you're learning on small amounts, that difference matters far more than a 0.1% trading fee ever will.

1. Daya Coins: no minimum, and daya.co/coins says it settles in seconds
2. Luno: ₦50 on an instant buy or sell, and ₦1,500 on a withdrawal
3. Busha: ₦250 to buy, and as little as ₦250 worth to sell
4. Quidax: ₦2,000 to buy, and 5 USDT to stake in Earn
5. Breet: $10 to buy and $5 to sell

Quidax publishes no minimum to sell and none to withdraw, which is a gap rather than a zero. Roqqu and Monica Cash publish no minimum anywhere either. Where an app hasn't said, start with a small amount and see what it accepts rather than assuming.

Where does Daya Coins fit?

Daya Coins is the straightforward swap for the part of Quidax most people used. You buy from your own Daya naira account rather than from another person, there's no peer-to-peer, and there's no minimum. Selling works the other way round: you sell in the app and the naira lands in a Nigerian bank account. On fees, daya.co/coins is quotable: no buy fee, no sell fee, no withdrawal fee and no network fee on your side, with Daya making its money on the spread built into the rate you see.

What Daya Coins adds on top of Quidax's range is the long tail. Alongside the majors and the stablecoins it carries memecoins and viral tokens, and you can buy any token by pasting its contract address or a DexScreener link. That's worth pairing with one habit: check the address on a block explorer before you buy, because anyone can create a token with a familiar name and a different contract.

Where Daya Coins isn't the pick is if you want to set your own price. Daya Coins buys and sells at a quoted rate, and it has no order book, so there's no way to post a limit order and wait. If that's how you trade, Quidax's order book at 0.07% as a maker on USDT against naira and Luno's exchange with its 0.01% maker rebate are both built for it, and you should use one of them.

And if you're selling real size, neither Daya Coins nor Quidax's retail screens are where that belongs. Daya Pro runs a USDT/NGN order book with market and limit orders at 0% as a taker and 0.05% as a maker, from $1. On the taker side that's the lowest of the three order books here, against 0.1% at Quidax and 0.10% at Luno. On the maker side Luno's 0.01% rebate beats Daya Pro's 0.05%, so the side you trade on decides which is cheaper for you. For anything from about $5,000 up, the comparison of what each desk will actually take is worth reading before you pick a venue.

Can you take your coins off the platform?

Quidax does let you withdraw crypto to your own wallet, and you choose the network when you do it. What's easy to miss is that Quidax's own fee table lists about 48 of its coins as trade only, with no send fee against them. Quidax doesn't say in prose that those can't be withdrawn, so if you're buying a coin you intend to move, check its row in the fee table first.

The send fees Quidax does publish, on the coins that carry one, run from 0.5 to 5 USDT depending on the network, and 1 USDC. Busha publishes 1 USDT on BEP20, Plasma and Solana, and 3 USDT on ERC20 and TRC20. Breet lets you buy straight to an external address on Tron, Ethereum, BNB Chain, Arbitrum, Base and Polygon, which skips the withdrawal step altogether.

The habit worth keeping, whichever app you use: look up the send fee and the network before you buy a coin you plan to move, not after. A 3 USDT send fee on a $20 position is 15% of your money, and the fee is set by the network rather than by the app, so no app can make it cheaper for you.

Which of these apps does the SEC say it has approved?

Check this yourself for whichever app you're using, because the public record is harder to read than it should be. The SEC's own register of registered fintech operators is published 25 May 2025 and has not been updated since, and it lists only Busha and Quidax under the Accelerated Regulatory Incubation Programme. Everything that happened after May 2025 sits in announcements rather than on the register.

What each source says, with its own date:

• SEC register, published 25 May 2025: Busha Digital Limited and Quidax Technologies Limited, both as Digital Assets Exchange, under ARIP.
• 2 July 2026: the SEC granted approval-in-principle to seven more firms, Luno Fintech Nigeria Limited among them, as reported by Nairametrics on 3 July 2026 quoting the SEC.
• 17 August 2026: three more firms were reported as admitted, Yellow Card Financial Limited among them.
• Breet states in its own footer that it has a pending application for admission to ARIP.
• Monica Cash describes itself as aligned with the SEC's VASP framework, which is a description of itself rather than an approval.
• Roqqu makes no licence claim on its own pages, though it says it files quarterly complaint summaries to the SEC.

Two things to hold on to. An approval-in-principle isn't a licence: the SEC's own wording is that it confirms an entity has satisfied the Commission's admission requirements for the programme, and the SEC says plainly that it isn't a final licence and stays conditional on continued compliance. And Quidax's own homepage states both things at once, with a heading calling it licensed by the SEC and the body on the same page calling it a provisional licence. What the Nigerian rules actually say about crypto goes through this properly, including why the register's figures and the announcements don't add up.

Which Quidax alternative should you use?

Pick by the job you want done rather than by a ranking, because these apps aren't doing the same thing. The honest split comes out like this.

• You just want to buy and sell without haggling, in small amounts: Luno from ₦50, or Daya Coins, which has no minimum and takes no fee on your side.
• You want to set your own price and wait: Quidax's order book at 0.07% as a maker on USDT against naira, or Luno's exchange, which pays a 0.01% maker rebate on the same pairs.
• You only ever cash out and never buy: Monica Cash charges 0% to convert and 0% to withdraw, and Daya Coins takes nothing on your side either, so pick on the naira you're quoted rather than on the fee line.
• You want tiered pricing you can calculate in advance: Breet, at 1.5% up to $999, 1% to $4,999 and 0.5% from $5,000, is the only app here whose selling fee you can work out for any amount before you start.
• You want memecoins, new tokens or anything you can only reach by contract address: Daya Coins.
• You're selling $5,000 or more: Daya Pro, at 0% taker and 0.05% maker from $1.

Whichever you choose, the step that saves you the most money takes two minutes and nobody does it. Quote the same trade in two apps at the same moment and compare the naira you'd actually get, not the fee each one shows you. On a ₦1m trade a 1% difference in the rate is ₦10,000, which is fifty times Quidax's ₦200 withdrawal fee, and the rate is the number almost nobody checks.