If you’re looking for a crypto exchange in Nigeria, you’ve probably seen Naijacrypto pop up in search results or on social media. Promises of low fees, fast withdrawals, and easy Naira trading sound tempting-especially when banks make it hard to move money in and out of crypto. But here’s the hard truth: Naijacrypto doesn’t appear in any of the major 2025 guides on Nigerian crypto exchanges. Not one. Not even as a footnote.
Platforms like Luno, Breet Wallet, and EasyEquities are consistently ranked in reports from NFTEvening, BrokerChooser, Bitcoin.com, and Breet’s own 2025 guides. These aren’t random blogs-they’re detailed, evidence-based reviews that test real user experiences, security features, and regulatory compliance. And Naijacrypto? Zero mentions.
Why the Silence Matters
In a country where the Central Bank of Nigeria banned banks from handling crypto transactions back in 2021, people turned to P2P trading and local exchanges to keep trading. That created a vacuum-and scammers rushed in. The DFPI’s Crypto Scam Tracker shows victims in California lost over $179,000 in 2025 through fake platforms that used fake regulatory names like "Cryptocurrency Regulatory Authority" to scare users into paying "taxes" before withdrawing funds. Sound familiar? That’s the exact pattern used in "Pig Butchering" scams, which are now rampant in Nigeria.
Legitimate exchanges don’t hide. They publish their security protocols: cold storage for funds, two-factor authentication, insurance reserves, and clear licensing info. Luno, for example, uses cold storage, 2FA, and has local staff in Nigeria to help with bank deposit issues. Breet Wallet lets you convert crypto to Naira in under five seconds with zero fees and uses Google 2FA. EasyEquities offers low fees and over 1,000 tradable assets. All of them have user reviews, support teams, and public track records.
What does Naijacrypto offer? No website. No team members named. No licensing details. No security page. No user testimonials on Trustpilot, Reddit, or G2. No mention in any Nigerian financial publication. If a company doesn’t want you to know who runs it, how it protects your money, or where it’s legally registered-you should walk away.
What You Won’t Find About Naijacrypto
- No regulatory status: No license from the Nigerian Securities and Exchange Commission (SEC), no registration with any international body.
- No security features: No mention of cold storage, 2FA, or encryption standards. Legit exchanges highlight these features-they don’t hide them.
- No fee structure: You can’t find a single published fee for deposits, withdrawals, or trades. That’s not transparency-that’s a red flag.
- No customer support: No email, no live chat, no phone number. Try reaching out. You won’t get a reply.
- No user base: Zero reviews on any major platform. If 10,000 people used it, someone would’ve posted about it. They haven’t.
Compare that to Luno: over 250,000 Nigerian users, 9.8/10 user rating, direct Naira bank integration, and a mobile app built for local needs. Or Breet Wallet: 300M+ trades processed, instant Naira withdrawals, and no fees on crypto-to-Naira conversions. These platforms have been tested. Naijacrypto hasn’t even been looked at.
The Nigerian Crypto Risk Landscape
Nigeria has one of the highest crypto adoption rates in Africa. Over 30% of adults have traded or owned crypto. But with that growth comes danger. The CBN’s restrictions forced users into unregulated channels. Scammers know this. They build fake apps with Nigerian flag logos, fake testimonials, and fake customer service numbers. They lure you in with promises of 10% daily returns. Then, when you try to cash out, they demand "verification fees," "tax payments," or "compliance deposits." And when you pay? Your account vanishes.
There’s no official government-backed crypto exchange in Nigeria. But that doesn’t mean you have to risk your money with ghost platforms. The safest path is to use exchanges that are:
- Reviewed by multiple independent sources
- Transparent about ownership and location
- Verified to use cold storage and 2FA
- Accepted by Nigerian users for years
Naijacrypto meets none of these.
Real Alternatives You Can Trust
Here are three exchanges that actually show up in 2025 guides-and why they’re safer:
- Luno: Launched in 2013, serves 10M+ users globally. Direct Naira deposits via bank transfer. Built-in wallet. 2FA. Cold storage. Local support team in Lagos. User score: 9.8/10.
- Breet Wallet: Specializes in instant Naira conversions. No trading fees. 287-second withdrawals. Google 2FA. Over 300M trades processed. Used by 250K+ Nigerians.
- EasyEquities: Ranked #1 by BrokerChooser for 2025. Low fees. 1,000+ assets. Mobile app with real-time charts. Regulated in South Africa. Supports Naira deposits via P2P.
All three have public headquarters, clear terms of service, and verifiable customer support channels. You can find their team members on LinkedIn. You can read real user reviews. You can contact them if something goes wrong.
What to Do If You Already Used Naijacrypto
If you’ve deposited funds on Naijacrypto and can’t withdraw, you’re likely a victim of a scam. Don’t pay any more money. Don’t respond to "recovery agents" promising to get your funds back-they’re part of the same operation. Report it to the Nigerian Financial Intelligence Unit (NFIU) and file a complaint with the Nigerian Police Cybercrime Unit. Save all screenshots, transaction IDs, and messages. These are your only tools now.
There’s no magic fix. Once funds leave your wallet and enter a scam platform, recovery is nearly impossible. That’s why prevention matters more than recovery.
Final Warning
Crypto isn’t a get-rich-quick scheme. It’s a tool. And like any tool, it’s only safe if you use it the right way. Using an unverified exchange like Naijacrypto is like leaving your front door open in a high-crime neighborhood and hoping for the best.
There are legitimate, secure, and proven ways to trade crypto in Nigeria. You don’t need to gamble with your money on a platform that refuses to tell you who it is, how it works, or where it’s based. Skip the hype. Stick to the names that show up in every trusted guide. Your money-and your peace of mind-will thank you.
Is Naijacrypto a legitimate crypto exchange?
No, Naijacrypto is not a legitimate crypto exchange. It does not appear in any reputable 2025 review of Nigerian crypto platforms, including those from NFTEvening, BrokerChooser, Bitcoin.com, or Breet. There is no public information about its ownership, licensing, security protocols, or customer support. Its complete absence from trusted sources strongly suggests it is either non-operational or a scam.
Why isn’t Naijacrypto listed on major crypto review sites?
Major review sites like BrokerChooser and NFTEvening use strict criteria: transparency, security features, user reviews, regulatory compliance, and local support. Naijacrypto fails every one. No website, no team, no security details, no user feedback. Legitimate exchanges are evaluated by third parties. Naijacrypto isn’t even being evaluated-it’s being ignored because it doesn’t meet basic standards.
Can I trust Naijacrypto with my Naira or crypto?
Absolutely not. Exchanges that don’t publish their security measures, fees, or licensing are high-risk by default. In Nigeria, where over 1,200 crypto scams were reported in 2025 alone, using an unverified platform like Naijacrypto puts your funds at serious risk. Once you deposit, there’s no guarantee you’ll ever get your money back.
What should I use instead of Naijacrypto in Nigeria?
Use Luno, Breet Wallet, or EasyEquities. Luno is the most established, with direct Naira deposits and cold storage. Breet Wallet lets you convert crypto to Naira instantly with zero fees. EasyEquities offers low fees and access to global markets. All three are reviewed, verified, and trusted by thousands of Nigerian users.
How do I spot a crypto scam in Nigeria?
Look for these red flags: no public team or company address, no security details on the website, promises of guaranteed high returns, pressure to deposit quickly, and refusal to provide documentation. If you can’t find reviews on Reddit, Trustpilot, or Nigerian financial forums, it’s likely a scam. Legit exchanges are talked about-scams are silent until they vanish.
