Luno — review & details

In Crypto exchanges · By the Rateweb editorial team · How we rate · Details checked 18 Jul 2026

In the SEC incubation programme, Luno offers the cleanest naira rail and the simplest first buy - the usual default for beginners, though incubation is not a full licence yet.

Beginner-friendly

Luno

In the SEC incubation programme, Luno offers the cleanest naira rail and the simplest first buy - the usual default for beginners, though incubation is not a full licence yet.
★★★★☆
4.1/5 · How we rate
SEC incubation (ARIP)
Regulation
Direct (bank)
Naira Onramp
First-time buyers
Best For
Low local rates
Trading Fee
Pros
  • In the SEC incubation programme — a regulatory pathway
  • Cleanest naira on/off-ramp; very simple to use
  • Strong track record + education
Cons
  • Incubation is not a full licence yet
  • Fewer coins / no advanced trading
  • Crypto is volatile — capital at risk
Fees, eligibility & documents
Fees
Trading feeInstant-buy spread vs exchange fee - compare
Naira depositDirect naira rail
WithdrawalNetwork fee (varies by network)
Eligibility
  • 18+ Nigerian resident
  • Active BVN
  • A Nigerian bank account for naira rails
Documents needed
  • BVN
  • Valid ID
  • Selfie / phone number for KYC
Visit Luno
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How Luno compares in crypto exchanges

Luno scores 4.1/5 in our crypto exchanges rankings. Our current top pick is Quidax (4.4/5). Always compare a few before you decide — see the full crypto exchanges comparison.

Luno
4.1/5 · this page
 Quidax
4.4/5
 Busha
4.2/5
Regulation SEC incubation (ARIP) SEC-licensed (Nigeria) SEC-licensed (Nigeria)
Naira Onramp Direct (bank) Direct (bank) Direct (bank)
Best For First-time buyers Local, regulated buying Simple naira buying
Trading Fee Low local rates Low local rates Low local rates
Visit Luno → Visit Quidax → Visit Busha →

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Details last checked: July 2026

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