Crypto Exchanges That Allow Nigerian Citizens in 2026: Full List and What You Need to Know
Feb, 26 2026
Over 72 million Nigerians are actively using cryptocurrency - more than the entire population of South Africa. With inflation hitting 24% and the naira losing over 75% of its value since 2016, crypto isn’t just a trend here - it’s a lifeline. But not all exchanges work the same way for Nigerians. Some freeze withdrawals. Others hide fees. A few even vanish overnight. The good news? Since the Investment and Securities Act (ISA) 2025 passed, Nigeria now has a legal framework for crypto exchanges. That means you can finally pick platforms that are safe, regulated, and built for your needs.
Top 8 Crypto Exchanges That Work for Nigerians in 2026
If you’re looking for real access to crypto - fast payouts, low fees, local support - here are the eight exchanges that actually serve Nigerian users today.
- Breet - Best for instant bank payouts. If you need Naira in your account within minutes after selling crypto, this is your go-to. It’s an over-the-counter (OTC) platform, so you trade directly with liquidity providers. No waiting 2-5 days like with other exchanges. But during high-volume days, liquidity can dip, and prices may shift slightly.
- Binance - The biggest exchange in the world still lets Nigerians trade. You get access to over 500 cryptocurrencies, deep liquidity, and advanced tools like futures and staking. But it’s not licensed under ISA 2025. That means if regulators tighten rules, Binance could pull out overnight. Use it for trading, not long-term holding.
- Bybit - Built for traders who want leverage. If you’re into margin trading or perpetual contracts, Bybit offers up to 125x leverage. It supports Naira deposits via bank transfer and has a clean mobile app. But it’s not regulated in Nigeria. High risk, high reward.
- Paxful - A peer-to-peer (P2P) marketplace where you buy crypto directly from other users. Great for finding better rates than fixed exchanges. But you’re on your own. Scammers exist. Always check seller ratings, trade history, and use escrow. Never skip the chat verification step.
- YellowCard - Made for Africa. This platform integrates with Nigerian mobile money, bank transfers, and even airtime payments. Customer support answers calls during Lagos business hours. They’ve added 12 new crypto pairs in 2025. But their selection is still smaller than Binance’s. Ideal for beginners.
- EasyEquities - The best overall experience in 2026. It’s a licensed broker under ISA 2025, so your funds are protected. Fees are transparent: as low as 0.1% per trade. You can buy crypto, stocks, ETFs, and even U.S. real estate investment trusts (REITs) from one app. Their mobile interface won awards. Over 85% of users rate it 5 stars for ease of use.
- MultiBank - Offers crypto trading with integrated wallet features. You can deposit Naira, trade crypto, and hold it in their secure wallet. But they only support 8 coins - Bitcoin, Ethereum, Litecoin, and a few others. No altcoins. Good for simple buys, not for portfolio builders.
- NairaEx - A Nigerian-founded exchange focused on Bitcoin, Ethereum, and Litecoin. It accepts direct bank transfers and has a simple interface. But it’s prone to maintenance outages. If you’re trading during holidays or weekends, expect downtime. Still, it’s one of the few platforms that clearly displays Naira conversion rates in real time.
How These Exchanges Compare
| Platform | Regulated under ISA 2025? | Best For | Supported Payment Methods | Number of Coins | Customer Support | Mobile App Rating |
|---|---|---|---|---|---|---|
| Breet | No | Instant Naira payouts | Bank transfer | 12 | Email + chat | 4.7/5 |
| Binance | No | Trading volume & coin variety | Bank, P2P, card | 500+ | Global chat/email | 4.5/5 |
| Bybit | No | Margin trading | Bank, P2P | 150 | Chat/email | 4.3/5 |
| Paxful | No | P2P deals | Bank, mobile money, gift cards | 8 | Chat only | 3.9/5 |
| YellowCard | Yes | African market focus | Bank, airtime, mobile money | 25 | Phone + chat | 4.6/5 |
| EasyEquities | Yes | All-in-one investing | Bank, card | 100+ crypto + stocks | Phone + chat + email | 4.9/5 |
| MultiBank | Yes | Simple buys & wallet | Bank transfer | 8 | 4.1/5 | |
| NairaEx | Yes | Bitcoin-focused trading | Bank transfer | 5 | Email + phone (limited hours) | 4.0/5 |
Why Regulation Matters - And What Happens If You Ignore It
Before ISA 2025, Nigerian crypto users were flying blind. The Securities and Exchange Commission (SEC) reported that over 1 trillion naira was lost to Ponzi schemes between 2000 and 2023. In 2024 alone, the Cybeg fraud collapsed - stealing 1.3 trillion naira from over 200,000 people. Many victims lost their life savings. Some ended up in hospitals. Others couldn’t afford treatment.
Now, under ISA 2025, only exchanges that meet strict rules can operate. That means:
- They must hold client funds in segregated accounts
- They must pass third-party security audits
- They must report suspicious activity to regulators
- They must have Nigerian-based customer support
Platforms like EasyEquities and YellowCard are licensed. Binance and Bybit are not. That doesn’t mean they’re illegal - but if Nigeria bans unlicensed platforms tomorrow, you could lose access to your funds. If you’re holding more than 50,000 naira in crypto, pick a licensed exchange. It’s not about trust. It’s about legal protection.
What You Need to Get Started
Signing up isn’t hard, but you need the right documents:
- Nigerian ID - Driver’s license, national ID card, or international passport
- Proof of address - Utility bill or bank statement from the last 3 months
- Bank account - Must be in your name. GTBank, Access Bank, and Zenith Bank work best
- Phone number - Must be active and registered under your name
EasyEquities and MultiBank ask for extra steps: proof of income and a short trading quiz. Breet skips most of this - you can start trading in under 10 minutes. If you’re under 18, you’ll need a parent or guardian to co-sign.
Red Flags to Avoid
Not every platform that says it works in Nigeria actually does. Watch out for:
- “Guaranteed 10% daily returns” - That’s a Ponzi scheme. Always.
- No clear company address - Legit exchanges list their Lagos or Abuja offices
- Only accepts crypto deposits - If they won’t take Naira, they’re not serving you
- No phone support - If you can’t call them during business hours, walk away
- Too-good-to-be-true referral bonuses - 20% for inviting friends? That’s how scams lure people
The SEC has flagged 79 suspected scams since January 2025. Most operate through Telegram or WhatsApp. If someone DMs you with a “secret” exchange, it’s fake.
What’s Next for Crypto in Nigeria?
By 2026, analysts predict over 40% of Nigerians will use crypto regularly. More banks are partnering with licensed exchanges. The Central Bank is testing a digital naira that could integrate with crypto wallets. But growth won’t come from shady platforms. It will come from licensed players like EasyEquities and YellowCard - the ones that follow the rules, pay taxes, and protect users.
If you’re new to crypto, start with EasyEquities. It’s simple, safe, and legal. If you’re experienced and want to trade aggressively, use Binance - but keep only what you can afford to lose. And never, ever send money to someone who promises you riches from crypto.
Can I use Binance in Nigeria in 2026?
Yes, Binance still operates in Nigeria. But it’s not licensed under ISA 2025. That means it doesn’t follow local rules on fund protection, customer support, or reporting. You can trade, but your funds aren’t legally protected. If Nigeria bans unlicensed platforms, Binance could shut down access overnight. Use it for active trading, not long-term storage.
Which exchange has the lowest fees in Nigeria?
EasyEquities has the lowest fees - as low as 0.1% per trade. Breet charges 0.5% for instant Naira payouts. Binance charges 0.1% for spot trades but adds hidden fees on margin trades. P2P platforms like Paxful often have higher spreads - sometimes 5-10% above market rate. Always check the final price before confirming a trade.
Is it safe to use P2P exchanges like Paxful in Nigeria?
It can be, but it’s risky. Paxful works because it uses escrow - your crypto is held until you confirm payment. But scams still happen. Sellers sometimes claim they never received payment. Buyers may send fake screenshots. Always trade with users who have 500+ completed trades and 98%+ positive feedback. Never release crypto before you see the Naira in your account.
Do I need to pay taxes on crypto profits in Nigeria?
Yes. Under ISA 2025, crypto gains are taxable. The Federal Inland Revenue Service (FIRS) now requires exchanges to report large transactions. If you sell crypto for profit, you owe capital gains tax. Licensed platforms like EasyEquities automatically track your trades and provide annual tax reports. Unlicensed ones don’t. Keep your own records.
Why do some exchanges block Nigerian users?
Some global exchanges block Nigeria because of past fraud and high chargeback rates. In 2021, many banks stopped processing crypto-related payments. Even though ISA 2025 fixed this, some platforms still assume Nigeria is high-risk. But now that regulation is clear, platforms like YellowCard and Breet have reopened services specifically for Nigerian users - because they know the market is huge and growing.
Can I buy Bitcoin with mobile money in Nigeria?
Yes - but only on YellowCard and Paxful. They integrate with MTN Mobile Money, Airtel Money, and 9Mobile Airtime. Other exchanges require bank transfers. If you don’t have a bank account, these two are your only options. Just be aware: mobile money trades often come with higher spreads than bank transfers.
What’s the fastest way to cash out crypto in Nigeria?
Breet is the fastest - withdrawals hit your bank account in under 5 minutes. EasyEquities takes 1-2 hours. Binance and Bybit can take up to 24 hours. P2P trades depend on the buyer - some pay instantly, others take 2-3 days. If you need cash fast, Breet is your best bet.
Which exchange is best for beginners?
EasyEquities. It has a clean app, step-by-step guides, no confusing charts, and live customer support in Nigeria. You can buy $10 worth of Bitcoin in 2 minutes. YellowCard is a close second - especially if you use mobile money. Avoid Binance and Bybit until you understand how trading works.
Final Advice
Crypto in Nigeria isn’t about getting rich overnight. It’s about protecting your money from inflation, avoiding bank fees, and accessing global markets. The best move isn’t chasing the highest returns - it’s choosing a platform that won’t vanish tomorrow. Stick to licensed, transparent, and locally supported exchanges. They’re your only real shield against fraud. And remember: if it sounds too good to be true, it is. Always.