Breet vs Luno: A Longer Track Record, or a Rail That's Never Been Cut Off?
Luno has been operating for 13 years, and in Nigeria, it holds only a provisional SEC status; it has a documented history of suspending naira service. Breet's naira and cedi settlement has never been shut off. This page covers the full comparison, including where Luno genuinely leads.
As a crypto platform, part of our job is to understand what other providers are building. My team and I review public documentation, pricing, product flows, and the evidence we can verify. We give credit where it is due, and we state the limits we find. This comparison describes what we found during our review of Luno, what it does well, where it may not fit, and who should consider it.
Note that we did create an account to test Luno's response times, payout speed, support, uptime, and product behaviour.
Head-to-head comparison
Luno is a long-running, genuinely licensed exchange elsewhere in the world, with a Nigerian naira rail that's been suspended before and only holds provisional local status. Breet is a Nigeria-and-Ghana platform built around a naira and cedi settlement that's never been switched off.
| Breet | Luno | What that gets you | |
|---|---|---|---|
| Rate | Better | Good | As of the time we checked, 17th August 2026, Breet's rate was ₦5 better than Luno's rate. |
| Nigerian regulatory status | SEC ARIP application on record | SEC Approval-in-Principle (provisional) | Comparable stage, neither fully licensed |
| History of suspending NGN service | None found | Yes, Feb 2021, no advance notice | This is the deciding row. See below |
| Ghana support | Yes | Not confirmed anywhere in its materials | A platform that actually serves both markets |
| Track record | Since 2021 | Since 2013 | Luno is ahead here |
| Crypto invoicing for individuals | Yes, multi-currency, free | Not offered | A tool Luno doesn't have |
Where Luno wins
A longer track record. Operating continuously since 2013, with a large coin list, staking, and tokenised stocks in some markets.
A mature, tiered trading fee structure, with clear volume-based discounts on the Exchange.
Where Luno falls short, for Nigerian users specifically
Its Nigerian entity holds only a provisional SEC Approval-in-Principle, not a full license. In February 2021, it disabled all naira deposits and withdrawals with no warning. Ghana support isn't confirmed anywhere in its materials.
Where Breet wins
No history of cutting naira service without warning. Breet's naira settlement has been part of the core product since the start, and Breet does not plan to remove it.
Both markets, one platform. Naira and cedi settlement means Ghanaian users can use the app and withdraw in their local currency without needing any app, something Luno doesn't confirm anywhere.
Automatic settlement. Breet settles to your Naira account automatically once the crypto deposit is confirmed without having to initiate a withdrawal (once set up).
Free multi-currency crypto invoicing, a tool for getting paid that Luno doesn't offer.
Why our customers prefer Breet
500,000+ users across Africa. The tweets speak for themselves.
Read more Breet reviewsReady to switch from Luno to Breet?
1. Download Breet and complete KYC. iOS, Android or web. Registration takes under a minute.
2. Send your crypto to your Breet wallet address. Withdraw from Luno to the Breet deposit address on the matching network.
3. Get paid to your bank or mobile money, in Nigeria or Ghana. See the exact rate before you confirm, with no history of the rail being switched off.
Frequently Asked Questions
Should I use Luno or Breet?
If you want a fully licensed exchange with a long global track record and don't mind Nigeria's provisional regulatory status, Luno is a real option. If you want a platform whose naira and cedi settlement has never been suspended, and that also works in Ghana, Breet is built for that.
Has Luno cut off Nigerian users before?
Yes. In February 2021, it disabled all NGN deposits and withdrawals without advance notice, following a Central Bank of Nigeria directive, and didn't fully restore service until later that year.
Is Luno rated better than Breet?
No. Luno's 4.2 from about 3,700 ratings is below Breet's 4.4 from 1,200.
Can I move crypto from Luno to Breet?
Yes. Withdraw to your Breet deposit address on the matching network.
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