How to Buy Altcoins in Nigeria: Platforms That Actually Work

The New Era of Crypto in Nigeria

Nigeria's crypto landscape has transformed dramatically in 2025. With the Investment and Securities Act (ISA) 2025 officially recognizing cryptocurrencies as securities under SEC regulation, buying altcoins in Nigeria is now more accessible and regulated than ever.

Whether you're looking to diversify beyond Bitcoin or explore emerging crypto projects, this guide highlights the most reliable platforms for Nigerian investors. 

What Are Altcoins — and Why Nigerians Are Buying Them

Altcoins are alternative cryptocurrencies to Bitcoin, including Ethereum (ETH), Ripple (XRP), Solana (SOL), and Cardano (ADA).

These assets power various blockchain use cases — from payments to smart contracts — offering higher growth potential for investors seeking diversification.

New to crypto?  For a deeper understanding of the differences, check out our guide on Bitcoin vs. Altcoins. 

Top Platforms to Buy Altcoins in Nigeria 

Here are the most trusted exchanges currently serving Nigerian investors, based on SEC recognition, user feedback, and transaction reliability:

 Use nairaCompare’s crypto platform comparison tool to evaluate transaction fees, naira deposit options, and available tokens.

Step-by-Step: How to Buy Altcoins in Nigeria 

Step 1: Choose Your Platform 

Start with SEC-recognized exchanges like Quidax and Roqqu. They lead as Nigerian-focused exchanges with robust naira support.

For more options, compare features on nairaCompare's crypto page. 

Step 2: Complete KYC Verification 

All licensed platforms require Know Your Customer (KYC) verification, including BVN, NIN, and photo ID. This step ensures compliance with SEC and anti-money laundering (AML) standards.

Step 3: Fund Your Account 

Most platforms accept bank transfers and P2P trading due to CBN banking restrictions. Roqqu supports deposits via bank transfer, debit cards, and multiple currencies. 

Step 4: Select and Purchase Altcoins 

Select your desired coin (e.g., ETH, SOL, XRP), input your amount in naira, and confirm. Most platforms process transactions instantly.

Step 5: Secure Your Investment 

Transfer your coins to a personal crypto wallet for maximum security. Learn more in our crypto wallet guide. 

Nigeria’s Current Crypto Regulations

In March 2025, President Bola Tinubu signed the Investment and Securities Act (ISA 2025), officially bringing crypto under the Securities and Exchange Commission (SEC). 

Security Best Practices for Nigerian Traders

• Use Licensed Platforms: Quidax and Busha hold SEC approval-in-principle 
• Enable Two-Factor Authentication (2FA): Adds an extra security layer 
• Start Small: Test platforms with minimal amounts first 
• Avoid Sharing Private Keys: No legitimate platform requests private keys 
• Research Before Investing: Verify project legitimacy and tokenomics

Frequently Asked Questions 

Q: Is it legal to buy altcoins in Nigeria? 

Yes, crypto trading is legal under ISA 2025, with the SEC providing regulatory oversight. 

Q: Which platform has the lowest fees? 

Roqqu offers minimal trading fees compared to competitors, while Quidax provides competitive rates for Naira transactions. 

Q: Can I use my Nigerian bank card? 

Direct card purchases face restrictions due to CBN policies. Most platforms use P2P or bank transfer methods. 

Q: How long does verification take? 

Roqqu typically processes KYC within minutes, while other platforms may take 24-48 hours. 

Final Takeaway 

The legalization of crypto trading under ISA 2025 marks a turning point for Nigerian investors.
With Quidax, Roqqu, and Luno offering secure, naira-supported platforms, buying altcoins in Nigeria is now straightforward and regulated.

Start small, stay informed, and always trade on SEC-approved platforms.

💬 Crypto is no longer the future — it’s Nigeria’s present financial reality.

Ready to explore altcoin opportunities? Compare current rates and platforms on nairaCompare today.