Luno fees and limits in Nigeria

Deposit fees and limits

More info

• Bank transfer: You’ll be charged a flat fee of ₦150 (excl. VAT). The final amount you receive in your account is after the payment provider has deducted VAT.
• Voucher deposits: You’ll be charged a 2% provider fee capped at ₦2,000 (excl. VAT) per deposit up to ₦5 million. For deposits over ₦5 million, you will be charged a provider fee of ₦3,000 (excl. VAT). The final amount you receive is after the payment provider has deducted VAT.
• The limits above are per transaction, and may vary depending on your verification level. You’ll see your limit when entering the amount you want to deposit.

Withdrawal fees and limits

More info

• You’ll be charged a ₦500 provider fee (excl. VAT) per withdrawal. The final amount you receive in your account is after the provider has deducted VAT.
• The withdrawal fee is deducted from your NGN wallet if it has a sufficient balance. If there aren’t enough funds in your NGN wallet to cover the withdrawal fee, the fee will be deducted from the withdrawn amount instead.
• The limits above are per transaction, and may vary depending on your verification level. You’ll see your limit when entering the amount you want to withdraw.

Verifications levels and limits

You can find out what verification level you’re on by going to your Profile and selecting Settings. Under Verification, you’ll see Level 1, Level 2, or Fully verified.

The following deposit and withdrawal limits apply for each verification level:

Instant buying or selling

These transaction costs and limits apply when you buy or sell crypto from the the Portfolio screen.

They do not apply to transactions on the Luno Exchange.

Transaction costs

Limits

These limits are applied per transaction. There is no limit on the number of transactions you can make.

Exchange tiers and fees

The fee you pay when buying or selling crypto on the Luno Exchange depends on your total 30-day trading volume, and whether you’re placing a maker order or a taker order.

Your tier (NG) is calculated once per day by summing up all of your trading activity across all markets on the Luno Exchange platform over the last 30 days (converted to your primary currency). You are then assigned a fee tier based on this total 30-day volume according to the table below.

A taker order is an order that trades at market price. A maker order trades at a limited price.

We have special fees and rebates for USDT/NG and USDC/NG pairs. If you trade these pairs, the stablecoin pair pricing below applies.

Exchange trading limits

When placing an order on the Luno Exchange, each currency pair (or market) has minimum and maximum volumes and prices you can set.

Volume refers to the size of the order you can place, applicable to all order types.

Price refers to the range within which you can specify the price for an order. It does not apply to market orders, which are automatically set at the current market price.

Tokenised stocks

Customers verified in Nigeria can buy tokenised stocks or exchange-traded funds (ETFs) on Luno. The trade cost you pay allows us to facilitate your trade instantly at a guaranteed price.

*The maximum limit per transaction is subject to change and may vary per asset.

Bundle fees and limits

Bundles are a collection of some of the largest cryptocurrencies. It automatically rebalances once per quarter to reflect market changes. Here are the fees and limits involved:

Fees

Limits

* If you’re selling your whole bundle, there is no minimum (you’re able to sell it even if your bundle balance is less than ₦ 2,500).

Staking fees

Staking enables you to earn back a percentage of your staked crypto for contributing to the continued operation of proof-of-stake blockchains.

Prediction markets

Buying or selling your position: Limitless fee 

Prediction Markets on Luno are powered by Limitless, a peer-to-peer decentralised exchange operating on the blockchain. When you buy or sell your position, Limitless charges the following adaptive fees as part of their Prediction Markets service on the blockchain:

• Buy Fees range from just 0.03% to 3% — the higher the probability of event, the lower the fee.
• Sell Fees start at 0% and gradually rise to 1.5% as the event probability approaches 50%.

Successful prediction payout: Network fee

If you make a prediction successfully, you’ll get a payout sent to your USDC Predictions wallet via the blockchain. This transfer incurs a dynamic network fee that the blockchain protocol calculates based on how busy the network is.

Send fees

Luno charges a dynamic fee for crypto sends. The only exception to this is:

• XRP, which has a fixed 0.03% send fee

You’ll always see the exact fee amount before confirming you want to proceed with the transaction.

Send limits

Luno may limit the amount of cryptocurrency you can send during 24-hour and 30-day rolling periods.

These limits form part of our anti-financial crime measures, and they are in line with best practices in the industry.

Maximum send limits

US dollar amounts are converted to the equivalent crypto that you’ve selected.

Minimum send amounts

Receive fees and limits

It's free to receive cryptocurrency, except:

• If you’re receiving Bitcoin and the amount received is lower than BTC 0.00000546, an equivalent fee will be charged to combat dusting attacks.

We’ve also set minimum receive amounts for some cryptocurrencies to help prevent dust attacks.