The Nigerian crypto story is both explosive and fragile. On the one hand, the country ranks among the world’s top adopters of digital assets in 2025, with millions relying on cryptocurrency as a hedge against inflation, for cross-border remittances, and as an investment vehicle. On the other hand, regulators’ shifting stances and the collapse of unreliable platforms have left users wary. This tension has created an urgent demand for platforms that are not only accessible but also genuinely trustworthy.
In this volatile environment, Luno Nigeria has carved a unique niche. Rather than chasing hype or making bold claims, the platform has chosen to build quietly, layer by layer, prioritizing safety, education, and usability. It offers Nigerians the chance to interact with crypto in ways that feel simple and safe, while still being globally competitive in design and functionality.
What truly differentiates Luno is its philosophy: make crypto work for ordinary people. While many exchanges focus on speculation, Luno focuses on practicality, allowing users to buy, sell, stake, and save with clarity. This characteristic has allowed it to survive a decade in the industry, an achievement in itself in a sector where most platforms fail within a few years.
How it started
Luno burst onto the scene in 2013 under the name BitX, founded in South Africa to tackle a growing pain frontier markets faced: limited, unreliable access to cryptocurrency tools. It rebranded to Luno in 2016, reflecting its ambition to go beyond borders with a user-centric identity and global vision.
The founders noticed a gap: while cryptocurrency exchanges thrived in Western markets, emerging economies remained underserved. Nigeria, with its mobile-first population and currency instability, proved fertile ground; hence, Luno extended its platform to offer local-currency deposits, fiat-crypto trading, and wallet services tailored for African users.
Core Features & Services
- Wallet & Instant Trading
Luno blends a custodial wallet with a simple buy/sell interface. Users can trade BTC, ETH, XRP, and other major cryptos against local fiat, like NGN, in just a few taps.
- Exchange & Spot Market
It’s exchange offers TradingView charts, order books, and advanced order types designed for professional or mid-level users. Liquidity remains strong, with tight spreads and volume-based fee tiers.
- Recurring Buys & Alerts
Luno includes dollar-cost averaging tools and price alerts that notify users based on custom thresholds, helpful for disciplined investing.
API & Business Accounts
An API lets developers automate trading, fetch market data, or integrate with external tools like TradingView. Business clients benefit from reporting dashboards, liquidity access, and tailored service.
Staking in Nigeria
Luno became the first locally operational crypto platform in Nigeria to launch a staking service, allowing users to earn up to 18% annual returns on PoS assets like Cosmos (ATOM), Solana (SOL), Polkadot (DOT), and NEAR Protocol (NEAR).
The offering introduces flexibility that resonates with Nigerian users: no minimum lock-up, instant access to funds, and transparent rewards paid regularly. Ayotunde Alabi, Luno Nigeria’s CEO, captures its impact well: staking offers Nigerians a “secure, compliant way to grow their wealth”
This matters more against a larger backdrop: Nigeria’s crypto activity hit $59 billion in on-chain transactions between July 2023 and June 2024. By matching global standards for safety with local relevance, Luno gives Nigerians a regulated, transparent alternative to high-risk offshore platforms
Values & Philosophy
Luno’s guiding principle is clarity married with custody-grade safety. The team consistently emphasizes building “a safe and transparent ecosystem”, especially important in Nigeria’s turbulent regulatory environment, Luno. That means respecting existing financial norms, while also pushing toward a frictionless, more secure future.
The company highlights sensible investing as well. According to a survey of nearly 7,000 Nigerians, only 2% had no investment plan, while 31% limited speculative trading, and 29% stuck methodically to their plan. This reflects Luno’s belief that crypto should serve long-term goals, not short-term gains, a philosophy that shapes its educational content, UI, and service rollouts.
Adoption & Market Reach
Luno has scaled significantly: globally, it handles over $52 billion in crypto transactions, with more than 10 million customers across 40 countries. Africa is central to that growth, with 4.7 million users on the continent, up significantly from 2.3 million in early 2020, with trading volumes rising from $555 million to $7 billion.
In Nigeria, Luno has become a trusted choice, even as other platforms faltered under regulatory stress. It holds over 3 million customers in-country, offering local-currency deposits, withdrawals, and NGN-native wallets through Luno. Beyond its product adoption, Luno’s survey revealed that Nigerian crypto users are financially savvy: 74% invest crypto proceeds toward family wellbeing, such as education (45%), home deposits (43%), or intergenerational savings (40%)
Regulatory Standing & Compliance
Luno continues to operate in Nigeria amid tightening regulations, offering NGN deposits and withdrawals by enforcing KYC and platform compliance. Globally, Luno’s operations include proof-of-reserves audits and custody partnerships with enterprises like Fireblocks, highlighting its commitment to transparency and scalability.
Tokenomics
Luno does not use a proprietary token or native cryptocurrency. It focuses on fiat-to-crypto services, steering clear of complex token economies or speculative models—keeping clarity for users and compliance intact.
Roadmap
Key milestones:
- 2013: Founded as BitX
- 2016–17: Rebranded to Luno
- 2021: Expanded to 40+ countries
- 2025: Launched staking in Nigeria
Wins & Achievements
- Over 15 million global users and presence in 40+ countries.
- Zero reported hacks since inception, a testament to security practices
- First crypto platform to offer staking in Nigeria, with compelling yields.
- Partnerships with Fireblocks for secure, scalable custody and settlements.
Closing thoughts
Luno Nigeria is more than a crypto exchange. It is a bridge safely guiding millions in a volatile environment toward digital assets. By marrying intuitive design with security and transparency, it empowers users without overwhelming them. Its strengths, simplicity, trust, local relevance, and proven security position it as a solid choice for African individuals and businesses navigating crypto.
Read also: EU Regulator Warns that Tokenized Stocks Could Mislead Investors.
