Naijacrypto Crypto Exchange Review: Why It's Not Listed in 2025 Nigerian Guides
If You're Searching for Naijacrypto, Here's What You Need to Know
Ever heard of Naijacrypto as a crypto exchange in Nigeria? If you search major 2025 guides, you won't find it. Not in NFTEvening's "10 Best Crypto Exchanges in Nigeria," not in BrokerChooser's "Best Crypto Brokers in Nigeria," and not in Bitcoin.com's "Top Nigerian Crypto Exchanges." This isn't an oversight. It's a red flag. Why? Because these guides rigorously review exchanges serving Nigerian users. They check security, fees, user experience, and regulatory compliance. If Naijacrypto isn't there, it's for a reason. Let's break it down.
How Reputable Exchanges Get Reviewed
Major publications like NFTEvening and BrokerChooser don't just pick exchanges randomly. They use clear criteria. BrokerChooser states they evaluate "overall service quality, number of available coins, crypto fees, mobile app functionality, broker security, and whether the broker offers crypto wallets." These guides include exchanges with varying market sizes but all have verifiable track records. For example, Luno is highlighted for its "user-friendly interface geared toward people transitioning from traditional finance to digital assets" and a 9.8 user score. Breet Wallet is praised for "bank withdrawals that are fast, within 287 seconds, secure, and stress free." Naijacrypto isn't mentioned anywhere. That's not accidental. It means it failed to meet basic standards for inclusion.
The Real Risks of Unverified Crypto Exchanges
Crypto scams targeting Nigerian users are rampant. The DFPI's Crypto Scam Tracker shows victims lost over $179,000 through fake platforms using "Pig Butchering" schemes. Here's how they work: scammers promise high returns, then block withdrawals with fake "regulatory tax" demands. The Central Bank of Nigeria restricts traditional banks from processing crypto transactions. This makes it harder to report fraud and easier for unregulated platforms to operate. Without verified ownership, security protocols, or regulatory licenses, Naijacrypto fits the pattern of these scams. Legitimate exchanges always publish transparent details about their team, licenses, and security measures. Naijacrypto provides none of this.
What to Look for in a Legitimate Exchange
Trusted Nigerian crypto exchanges share key traits. First, they offer direct Luno is a cryptocurrency exchange that has been operating in Nigeria since 2013. It offers direct naira deposits and withdrawals, cold storage security, and a user score of 9.8 in 2025 reviews.. Second, they have clear fee structures. For example, Breet Wallet states "No processing, receiving, or withdrawal fees" and uses "encrypted transactions, Google 2FA authentication." Third, they comply with regulations. The Nigerian Securities and Exchange Commission has increased scrutiny, as seen in their 2023 case against Kraken (settled in March 2025). Legitimate exchanges work within these rules. Fourth, they have responsive local support. Luno's "built-in wallet" and "local staff handling common deposit or withdrawal issues" are proof. Naijacrypto shows none of these traits.
Trusted Alternatives for Nigerian Users
Here are three vetted exchanges Nigerian users trust:
| Exchange | Naira Integration | Security Features | 2025 User Score | Regulatory Status |
|---|---|---|---|---|
| Luno | Direct bank transfers and local payment solutions | Cold storage, 2FA, risk checks | 9.8 | Operates under global regulations |
| Breet Wallet | Instant Naira conversions with bank withdrawals in under 5 minutes | Encrypted transactions, Google 2FA | 9.5 | Compliant with Nigerian financial standards |
| EasyEquities | Supports multiple fiat currencies including naira | Multi-factor authentication, regular audits | 9.6 | Registered with international financial authorities |
Breet Wallet is a cryptocurrency wallet that specializes in instant Naira conversions with bank withdrawals in under 5 minutes, encrypted transactions, and Google 2FA authentication.. It handles over 300 million trades and serves 250,000+ users. EasyEquities is a crypto broker that offers extremely low fees, a wide range of coins, and a mobile platform trusted by Nigerian traders.. It's ranked top by BrokerChooser for its "unmatched range of products and markets." These platforms have clear licenses, transparent fees, and active user communities. Naijacrypto has none of these.
Frequently Asked Questions
Is Naijacrypto a scam?
Yes, it's highly likely. Naijacrypto doesn't appear in any major 2025 Nigerian crypto exchange reviews. It has no verifiable ownership details, regulatory licenses, security protocols, or user reviews. Scam platforms like this often use "Naijacrypto"-style names to mimic legitimacy. Avoid it completely.
How can I verify a crypto exchange's legitimacy?
Check three things: First, see if it's listed in trusted guides like NFTEvening or BrokerChooser. Second, look for clear regulatory licenses (e.g., Nigerian SEC or international regulators). Third, verify security features like cold storage and two-factor authentication. Legitimate exchanges publish all this openly. If you can't find it, walk away.
Why do Nigerian banks restrict crypto transactions?
The Central Bank of Nigeria restricted bank transactions for crypto in 2021 to prevent fraud and money laundering. This made it harder for scams to operate through banks. However, it also forced users to use P2P methods. Legitimate exchanges like Luno and Breet Wallet work within this system by offering secure P2P options. Unregulated platforms exploit this gap.
What's the safest way to buy crypto in Nigeria?
Use trusted exchanges like Luno or Breet Wallet. Both support direct naira deposits, have strong security (cold storage and 2FA), and transparent fees. Start with small amounts to test withdrawals. Never share your private keys, and always use official apps from verified app stores. If a platform promises "guaranteed high returns," it's a scam.
What should I do if I lost money to a crypto scam?
Report it immediately to the Nigerian Financial Intelligence Unit (NFIU) and local police. Share all transaction details and platform names. While recovery is rare, reporting helps authorities track scams. Also, warn others on trusted forums like Reddit's r/Nigeria. Never pay "recovery fees" to third parties-this is a common scam tactic.