As regulators in Nigeria continue to tighten their grip on crypto exchanges, most notably the clampdown on Binance, many traders are left wondering which platforms remain active in 2025.
One name that often resurfaces in these conversations is Luno, once among the most popular crypto exchanges in pre-COVID-19 pandemic Nigeria.
Founded in 2013 (originally as BitX), it rebranded to Luno in 2016 to better reflect its evolving mission and identity.
Fast-forward to today, a lot of people always ask: is Luno still working in Nigeria in 2025?
In this guide, we’ll answer that question directly, walk you through Luno’s latest features and updates, weigh its pros and cons, and highlight the best alternative available to Nigerian traders.
Related:
- Does Binance Work in Nigeria? (2025 Update)
Is Luno Still Working in Nigeria in 2025?
Yes, Luno is still working in Nigeria in 2025. Despite regulatory challenges, the exchange continues to allow users in Nigeria to buy, sell, and store cryptocurrencies like Bitcoin, Ethereum, and USDT.
Luno currently supports Naira deposits and withdrawals, making it a convenient option for traders using bank transfers and P2P methods.
However, following recent compliance requirements, you need to complete KYC verification, which includes providing a valid ID and proof of address to use the platform.
Related:
- The Best 7 Busha Wallet Alternatives in 2025
Breet: The Best Alternative to Luno in 2025
While Luno remains operational in Nigeria, many crypto users now prefer Breet for its speed and simplicity.
Unlike Luno, which focuses on buying and selling crypto through an exchange model, Breet is an OTC platform built for instant crypto-to-cash conversion.
Breet offers a seamless, automated process that allows you to send your crypto and receive instant settlement in your bank account within 287 seconds.
Why Breet Beats Luno in 2025:
- Instant payouts: Automatically converts your crypto to Naira and deposits it in your bank account in less than 287 seconds on average.
- Zero transaction fees: No hidden charges or fees on conversions.
- Supports 40+ tokens: It supports over 40 cryptocurrencies including BTC, ETH, TRX, USDC, AVAX, and SOL.
- Breet 3.0 features: With the recent updates on Breet 3.0, you can pay bills directly with crypto, generate crypto invoices, get real-time price alerts and market insights, and enjoy access to the revamped receive feature.
Pros
- There are no P2P delays, and funds land in your bank account almost instantly.
- Localized service designed around banking infrastructure and needs.
- Access to smart invoicing, bill payments, and market tools in one place.
Cons
- Currently only available in Nigeria and Ghana.
Breet vs Luno: Full Comparison
| Feature | Breet | Luno |
|---|---|---|
| Transaction Speed | Completes transactions in under 5 minutes | Fast trades, but deposits and withdrawals can take longer |
| Fees | Low transaction fees, costs built into rates | Charges fees that vary by region and trade type |
| Ease of Use | Very simple app designed for quick crypto use | Beginner-friendly, includes charts and trading tools |
| Features | Crypto to cash, crypto swaps, bill payments, invoices, auto settlement, VIP desk | Wallet service, spot trading, recurring buys, API, price alerts |
| Supported Coins | Over 170 cryptocurrencies supported | About 25 cryptocurrencies supported |
| Security | Bank-grade encryption, fraud prevention | Multi-signature wallets, cold storage, 2FA, proof of reserves |
| Customer Reviews | Rated highly for speed, reliability, and support | Positive reviews but some complaints about support and limited tools |
| Focus Market | Focus on Africa, supports Naira and local needs | Operates in over 40 countries, including Nigeria |
Luno Review: Performance and Reliability in Nigeria (2025)
When it comes to crypto trading platforms in Nigeria, performance and reliability are key factors. Here’s an in-depth look at how Luno performs in Nigeria in 2025:
Luno Performance in Nigeria
- Fast Deposits and Withdrawals: Many Nigerian users report that Luno processes withdrawals within minutes when using supported banks. However, delays can occur during peak periods or when Nigerian banking restrictions tighten.
- User-Friendly Platform: Luno is designed for beginners, offering an intuitive interface, instant buy/sell options, and trading view charts for market analysis. This makes it a good option for Nigerians looking for a simple entry into crypto trading.
- Reliable Mobile App: The Luno app for Nigeria performs well on both Android and iOS devices. It supports quick transactions and recurring buy features for dollar-cost averaging.
Reliability Issues Reported by Nigerian Users
- Occasional Withdrawal Delays: Some Nigerian traders have experienced withdrawal approvals without instant processing, requiring follow-up with Luno customer support in Nigeria.
- Limited Crypto Options: Luno mainly supports Bitcoin (BTC), Ethereum (ETH), and a few other major coins. Nigerians who trade a wide range of altcoins may find Luno restrictive.
On the other hand, alternatives like Breet have gained attention because they tackle these limitations.
With instant settlements, no P2P risk, and zero conversion fees, Breet offers a smoother experience for users who prioritize speed and reliability.
Top Pick:
- The Best 11 Play to Earn (P2E) Crypto Games in 2025
Pros and Cons of Using Luno in Nigeria (2025)
Before you decide whether to use Luno in Nigeria, it’s important to weigh the advantages and disadvantages.
Pros of Luno in Nigeria
- Trusted and Regulated Platform: Luno is a globally recognized exchange with a good reputation for security, making it a safe choice for Nigerians who want to avoid scams.
- Beginner-Friendly Interface: The Luno app is simple, clean, and easy to navigate.
- Multiple Payment Methods: Supports bank transfers, card payments, and P2P, for deposits and withdrawals.
- Crypto Staking Feature: Luno now allows Nigerian users to stake crypto and earn passive income, giving traders more ways to grow their holdings.
- Strong Security: Features like two-factor authentication (2FA), encryption, and cold storage help protect users’ funds.
Cons of Luno in Nigeria
- Limited Cryptocurrency Options: Luno supports only a few major coins like BTC, ETH, XRP, LTC, and USDC, making it less practical for crypto traders looking to trade a wide range of altcoins.
- Higher Fees Compared to P2P Platforms: Buying and selling through Luno can be more expensive than using local P2P exchanges in Nigeria.
- Withdrawal Delays During Peak Times: Some Nigerian users report slow withdrawals when there’s heavy transaction volume.
- No Advanced Trading Tools: While Luno has added charts, it lacks advanced features for professional Nigerian traders who prefer detailed order books and futures trading.
Luno Review: What are users saying?
Recording a reputation rating of 2.2/ 5 on Trustpilot, 3.6/5 on Google Play, and 4.2/ 5 on Apple App Store, here’s what real users are saying about Luno exchange:
Ease of Use
Users generally appreciate Luno’s simplicity:
- “Very easy to use for beginners. Buying Bitcoin took me less than five minutes.”
- “The interface is clean and simple, especially compared to other exchanges.”
Customer Support
Customer support is the most criticized area:
- “It’s been 3 days and I’m still waiting for feedback on my ticket.”
- “Terrible response times. You can’t talk to a real person when your account is locked.”
Withdrawals & KYC
Some users report delays with verification and fund withdrawals:
- “Refund back my money… two weeks now and still no update.”
- “Had to wait 10 days to unlock sending. Very frustrating.”
Fees & Transparency
Mixed opinions on Luno’s fees:
- “Their fees are too high compared to Binance and KuCoin.”
- “For convenience, I don’t mind paying extra.”
In summary, though Luno remains one of the easiest platforms for beginners to buy and sell crypto, high transaction fees, slow customer support, and delays with withdrawals and KYC verification continue to frustrate many users in 2025.
Users looking for faster settlements and zero withdrawal delays are increasingly turning to alternatives like Breet, which offers instant cash-outs and lower fees.
Final Verdict: Should You Use Luno in 2025?
So, is Luno still worth using in Nigeria, and is it worth using in 2025? The answer depends on your needs.
Luno remains one of the most trusted and beginner-friendly cryptocurrency exchanges in Nigeria, especially for those who value security, simplicity, and regulatory compliance.
However, it has certain limitations: high transaction fees, limited coin options, and occasional withdrawal delays can be frustrating for crypto traders who need more flexibility and lower costs.
Luno is considered a top choice in Nigeria, but if you want fast crypto-to-cash conversions and instant settlements, Breet stands out as the smarter choice in 2025.
Don’t Miss:
Frequently Asked Questions about Luno
Is Luno still working in Nigeria in 2025?
Yes, Luno is still working in Nigeria as of 2025. The platform allows users to buy, sell, and trade cryptocurrencies like BTC and ETH. It also recently added crypto staking, giving users a way to earn rewards on their holdings.
Is Luno safe in Nigeria?
Yes, Luno remains a regulated exchange with strong security measures like 2FA and cold storage. However, users should be cautious with P2P trades to avoid scams.
Does Luno in Nigeria support USDT?
Yes. While staking does not yet cover stablecoins, Luno supports trading and holding USDT. You can swap and hold it just like BTC or ETH.
Does Luno Nigeria charge high fees compared to P2P platforms?
Yes, Luno’s spot trading and instant buy/sell features may carry higher fees compared to P2P exchanges. However, its simplicity and staking options offer trade-offs for beginners.
Can I withdraw money from Luno to a bank account in Nigeria?
Yes, you can withdraw from Luno to your Nigerian bank account in 2025, and withdrawals are processed within a few hours, though standard fees and limits apply.
