Are you looking for Binance alternatives in Nigeria? With recent regulatory changes and increasing restrictions, many Nigerian crypto enthusiasts seek reliable platforms to continue trading. In this guide, we’ll explore the best Binance alternatives that offer robust features, security, and ease of use for Nigerians.
Top Options to Replace Binance for Nigerian Traders
With Binance scaling back, several crypto exchanges have stepped up to fill the gap. Here are the top choices that can serve as alternatives.
Jackocoins
The platform gives the best and highest rate in Nigeria’s cryptocurrency exchange market, which allows you to make more profit on your sale on their platform. With quick and fast payment due to enough liquidity from partners, payments are received between 30 minutes to 1-hour.
You can easily choose between automatic and manual trading (Wallet Mode) while trading with your favorite coins. Currently, available cryptos are Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and Tether(USDT), BEP20 USDT. All Cryptos are stored in an advanced hot wallet.
Trading Features: The platform supports several coins, including major tokens like BTC, ETH, and USDT. Enjoy fast fiat conversions, auto trading, and high coin rates on an advanced blockchain program.
Trading Fees: Jackocoins maintains a NO FEE policy that allows you to trade freely, making trading more affordable.
Security: We prioritize security, maintaining international blockchain security standards.
Luno
Luno, based in Lagos, is a local exchange. It follows strict rules set by the Nigerian Financial Intelligence Unit (NFIU) for Know Your Customer (KYC) and Anti-Money Laundering (AML) standards. You can buy about 20 cryptocurrencies with Nigerian Naira (NGN), including popular ones like Bitcoin, Ethereum, Bitcoin Cash, USDC, XRP, Litecoin, Chainlink, Uniswap, Cardano, Solana, and Avalanche.
Being an African exchange, it supports several regional languages and has a customized interface for Nigerian investors and traders. However, it charges high fees for depositing and withdrawing NGN.
Remitano
Specializing in P2P trading, Remitano is a strong alternative to Binance’s former services. The platform supports a variety of cryptocurrencies and offers secure escrow services to ensure safe transactions. Remitano’s user-friendly interface makes it easy for Nigerians to trade directly.
The trading fee is calculated as 1% of the price listed for sale. This means that the price shown to viewers already includes the fees. For example, if an item is advertised for $7,000, the total amount paid will be $7,070. From this amount, $7,000 goes to the seller, and $70 (which is 1% of $7,000) is the trading fee
Kucoin
KuCoin is one of the top Binance alternatives, with more than 30 million users worldwide and a daily trading volume exceeding $2.8 billion. It offers access to over 700 cryptocurrencies for buying, selling, trading, and staking, with fees now at 7.5% VAT. The platform supports various markets like spot and margin trading, leveraged tokens, and derivatives trading with up to 100x leverage, providing diverse options for traders.
KuCoin applies a flat fee of 0.1% and a VAT of 7.5% for both parties, ensuring competitive pricing across trades.
Yellow Card
Yellow Card simplifies the process of buying and selling cryptocurrencies with local currency.
The platform is straightforward and accessible. Yellow Card also supports cash transactions, allowing you to buy crypto at physical locations across Nigeria.
Binance alternative comparison
| Alternatives | Trading fees | Wallet Type | Deposit Modes | Cryptocurrencies | Key Features |
| Jackocoins s | Zero fees | Hot Wallet | Bank transfer, credit/debit card | Bitcoin (BTC), Ethereum (ETH)Tether (USDT), ERC-20, and more coming | Fast payments, highest rates, blockchain wallet security, Naira fiat conversions for Nigerians |
| Luno | 1% Fiat to Crypto & 0.25% for Crypto to Crypto | Hot and cold TV wallets | Bitcoin (BTC) Ethereum (ETH), (USDT), ERC-20, and more coming | Supports Staking Only | Multicurrency wallet, API key permissions, high security standards, |
| Remitano | Variable depending on trade | Hot and cold wallets | Bank transfer, credit/debit card, gift card, Skrill, PayPal, and Perfect Money. | Cash, bank transfers to gift cards and payment applications | P2P trading, escrow service, secure transactions |
| Kucoin | Debit card, Google Play, or deposit local currency to your local wallet | Hot wallets | Internal Transfers | Bitcoin (BTC), Ethereum (ETH), Notcoin (NOT), Toncoin (TON), Hamster Kombat (HMSTR), KuCoin Token (KCS), Solana (SOL), Dogecoin (DOGE), Bitcoin Cash (BCH), new crypto and even meme coins | Advanced trading features, low fees, global availability |
| Yellow Card | Variable depending on country | Hot Wallet | Manual deposit, Momo deposit, Manual Momo deposit, SPENN deposit, EFT deposit, Instant Transfer. | Bitcoin, USDT, and other cryptocurrencies at the best rates. | Focus on African market, user-friendly app, support for local currencies |
| Paxful | Variable depending on trade | Hot Wallet | Focus on the African market, user-friendly app, support for local currencies | Bitcoin (BTC), Tether (USDT), Ethereum (ETH), and USD Coin (USDC) | P2P trading, multiple payment methods. |
Conclusion
Binance’s exit from Nigeria’s crypto market has caused significant disruption, leaving you to look for reliable alternatives.
Jackocoins matches Binance’s offerings, enhancing the user experience with unique features and strong local support. Our commitment to transparency, security, and seamless trading makes it the ultimate choice for trading with confidence. As the crypto landscape evolves with uncertainty, you can be sure to trade on our platform with optimism and security.
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