Luno Wallet App Review & Top 7 Alternatives (2025)

Luno is a reputable crypto exchange that has made waves in the Nigerian crypto space.

The platform claims to attend to the crypto needs of Nigerians by supporting Naira deposits and withdrawals.

This has led to its widespread acceptance. But how good is the Luno App at what it does?.

Well, we have answers. In this concise review, we explore the good and bad of the Luno app alongside the top 7 alternatives you should check out. Stick around for a comprehensive overview. 

Luno Wallet App Review: Key Features 

Luno App, formerly known as Bitx, is a mainstream crypto trading platform with a plethora of services.

Here are the features and a brief discussion on them to have an idea of what the Luno app offers its users: 

Cryptocurrency Trading and Wallet Function

The Luno app enables instant buy/sell trading for popular crypto tokens like Bitcoin, Ethereum, Solana, and USDT. You can trade these cryptocurrencies against fiat, including Naira.

This platform also supports an exchange with charts, analytics, indicators, and order books; there are trading pairs like ETH/NGN and BTC/NGN.

Moreover, Nigerians can generate wallet addresses and use the Luno app as a wallet for several cryptocurrencies. 

Savings Options

There are several saving options available at the Luno App.

Users can leverage Luno’s saving wallet and earn interest on their deposits. They can earn as high as 7% per annum on their savings.

The interests are computed daily; there are no fixed lock-ins or fees. Hence, the saving feature is flexible. 

Crypto Staking 

Staking is a popular crypto feature that is now available on the Luno App for Nigerians.

Luno’s staking offers users up to 18% per annum on the amount they stake. Some of the stackable tokens include ATOM, SOL, and NEAR.  

API Access & Developer Tools

The Luno app offers a robust API enabling businesses and developers.

With the platform, you can create wallets and automate transactions.

The Luno app also provides access to market data, which makes the app an ideal partner for business. Plus, the app’s security is enhanced with features like multi-signature wallets and cold storage.

Related to Luno:

• Does Luno Still Work in Nigeria? 2025 Review

Luno Review: Pros and Cons 

Luno App has so many features; in this section, we discuss the pros and cons of the app, so you know what to expect when you visit or if to try other alternatives:

Top 7 Alternatives to Luno App

While Luno is a great app, it is not without its flaws. On days when Luno’s customer support is laggy or there are high fees, here are seven alternatives that offer similar services to the Luno app: 

1. Breet 
2. Binance 
3. KuCoin 
4. Paxful 
5. Bybit 
6. OKX
7. Coinbase 

1. Breet 

The Breet App is a top-rated Nigeria-focused app that supports quick crypto-to-cash and crypto-to-crypto transactions.

It has a responsive customer service, zero hidden charges, and business invoicing that automates international payments.

The Breet app is rich in features, which provide users with a premium experience while on the app. 

Why it’s better than LUNO: It serves as an ideal Luno alternative, but with lower transaction fess, and more reliable.

Trusted by over 250,000 users and having tons of positive reviews, Breet outshines its competition in speed by processing withdrawals in less than 287 seconds as opposed to Luno’s hours. 

2. Binance

Binance is widely regarded as Nigeria’s favourite crypto exchange.

This platform supports low trading fees, a Naira-friendly P2P marketplace, staking, and several advanced trading features. Many users also report that Binance is easy to use and navigate.

However, there is a ‘but’. Binance is currently under fire as regards regulations. Notwithstanding, the platform remains a go-to option for most Nigerians. 

3. KuCoin

KuCoin is the place any experienced trader wants to be.

The platform features over 700+ tokens, P2P trading, and extensive trading features. Users can also leverage trading bots and low trading fees. KuCoin is growing in popularity.

It is a great alternative to the Luno App, especially for those who need more trading features than the Luno app provides. 

4. Paxful 

Paxful is a P2P platform where Nigerians can trade their crypto for Naira or Naira for crypto. The P2P platform comes with an escrow service too.

This ensures that the trade between both parties proceeds smoothly.

Paxful is a good Luno alternative for crypto-to-crypto and crypto-to-cash transactions. Moreover, the platform supports multiple local payment methods, such as bank transfers, gift cards, and mobile money. 

5. Bybit

Bybit offers custodial and non-custodial wallet functionality, enhanced security (Multi-signature, 2FA, and cold storage), and demo trading accounts.

This platform also supports 800+ crypto tokens and P2P functionality for Naira users. The app might seem a little daunting for beginners with the multiple features on the display.

Hence, we often recommend the app for users with prior experience with exchanges. 

6. OKX

OKX provides access to both a Web3 wallet and an exchange in one platform. The app has one of the best user experiences of any crypto exchange.

Many users tag it as one of the starter packs for those entering into crypto and Web 3. There are several altcoins and trading pairs to explore. Plus, this platform supports NFT trades as well. 

7. Coinbase 

Coinbase is a household name in the crypto world. It has global recognition and is now being made accessible to the Nigerian audience.

The platform has a user-friendly interface and tons of educational resources. You can do all the basic crypto transactions here. Coinbase allows Nigerian users to trade between crypto pairs and enjoy basic trading features. 

Related to Luno:

• Roqqu vs Luno: Which is Better in 2025?

Final Verdict: Is Luno the Right Choice for You?

It depends on your needs. The Luno app is a great crypto platform that offers several perks like crypto-to-cash transactions, basic trading features, and staking.

As a beginner in need of these basic trading features and staking, Luno is probably the best option. However, when it comes to crypto-to-cash transactions, the Breet App reigns supreme for Nigerians.

It processes transactions in less than five minutes and features transparent and zero trading fees. 

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• Top 11 Crypto Exchanges in Nigeria (2025)

Frequently Asked Questions about Luno App 

How Much Does the Luno App Charge per Transaction? 

The Luno app charges about 2% provider fee for deposits. The provider fee is capped at 1,200 naira, excluding VAT fees for bank transfers. However, the 2% provider fee is capped at 2,000 naira for voucher deposits. On the other hand, the withdrawal fees at Luno App is 500 naira for amounts below 50 million naira. Hence, 50 million naira and above attract a fee of 1,500 naira. 

What is the Minimum Withdrawal from the Luno App? 

There is a minimum withdrawal limit on the Luno App for Nigerians. The amount is 200 naira. However, you need to have enough money to cover both the withdrawal fee and the amount being withdrawn. 

How Long Does the Luno Withdrawal Take?

In Nigeria, Luno withdrawals are processed instantly. However, it can take about six to twelve to reach your local bank account. If there are any delays, discuss with the customer service to get the issue resolved. 

Is the Luno App Safe to Use As A Nigerian? 

Yes, the app is regulated by the Nigerian federal government and leverages several security measures such as 2FA and cold wallet storage. This ensures that all its users are confident that their funds are safe. 

Which Luno Alternative is Recommended? 

When it comes to crypto-to-crypto transactions, crypto-to-cash transactions, and wallet functionality, Breet clears all Nigerian platforms, including the Luno App. Breet is fast with zero transaction fees. Over 250,000+ users use its services, which confers a level of trustworthiness.