Bitmama — review & details
Nigerian-founded crypto platform for buying and selling Bitcoin, Ethereum, USDT, USDC and other assets directly with naira, plus virtual and physical crypto debit cards for international spending. No SEC Nigeria provisional licence has been verified for it.
Naira on-ramp + cards
Bitmama
★★★★☆
Direct NGN buy/sell pairs on the platform (BTC, ETH, USDT, USDC and others)
Ngn Support
In-app trades are near-instant; NGN settlement depends on bank rails
Speed
No SEC Nigeria provisional (ARIP) licence verified during this research
Licence/ Registration
Nigerians who want naira on/off ramps plus a dollar card for foreign payments
Best For
Local retail exchange + crypto cards
Type
Pros
- Direct naira buy/sell — no P2P workaround needed
- Crypto debit cards usable for international subscriptions and shopping (site cites over $10,000/month card spend)
- Built for the Nigerian market, with local payment culture and support
Cons
- Not among the exchanges with a verified SEC Nigeria provisional licence (only Quidax and Busha held ARIP provisional licences as of this research)
- Crypto prices are highly volatile and holdings sit largely outside any investor-protection or deposit-insurance scheme
- Card fees, limits and availability are only fully visible inside the app
Fees, eligibility & documents
Fees
Trading costSpread built into quoted buy/sell rates; compare the effective NGN rate against other platforms before trading
Card feesIssuance and usage fees apply to the crypto cards — check the in-app schedule before ordering
Eligibility
- Nigerian residents aged 18+
- Completed identity verification (KYC)
- Nigerian bank account or supported funding channel for NGN
Documents needed
- Government-issued photo ID (NIN slip, driver's licence, or passport)
- BVN and/or selfie verification
- Proof of address may be requested at higher tiers
How Bitmama compares in crypto exchanges
| Bitmama | Quidax | Busha | |
|---|---|---|---|
| Ngn Support | Direct NGN buy/sell pairs on the platform (BTC, ETH, USDT, USDC and others) | — | — |
| Speed | In-app trades are near-instant; NGN settlement depends on bank rails | — | — |
| Licence/ Registration | No SEC Nigeria provisional (ARIP) licence verified during this research | — | — |
| Best For | Nigerians who want naira on/off ramps plus a dollar card for foreign payments | Local, regulated buying | Simple naira buying |
| Visit Bitmama → | Visit Quidax → | Visit Busha → |
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