7 best crypto exchanges in Nigeria

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Kraken Cryptocurrency Exchange

220+
Supported cryptos

6
Fiat currencies

• Why we chose it
• Pros & cons
• Fees & deposits

Kraken is one of the longest-running platforms in the industry and has maintained its legacy by constantly improving its services. It's a feature-rich exchange with a strong emphasis on education, which is why it won Finder's Crypto Trading Platform award for best global crypto exchange. You can start building a cryptocurrency portfolio today from 200+ supported coins.

Kraken is popular with over 9 million users and exceeds a daily trading volume of US$500 million, which makes it one of the world's largest exchanges. But for overall features and trading tools, Kraken really blows everyone out of the water. It is clearly made for traders, but it doesn't leave novices behind either.

Kraken has a broad range of staking options and advanced trading features. It prides itself on offering low spreads and providing deep liquidity across markets. This means that you don't need to worry as much about slippage.

While new traders may feel daunted by the exchange at first, the large variety of guides Kraken offers can help anyone become knowledgeable about cryptocurrency, its underlying technology and the different forms of trading. Meanwhile, more experienced traders will appreciate its high-quality system and easy-to-use UI (user interface) as well as be pleasantly surprised by how straightforward it is to trade, move crypto and manage assets.

Pros

• 200+ supported coins
• Launched in 2013: one of the longest-running crypto exchanges
• Low fees for active traders
• Earn yield through staking
• High-quality educational guides and tools

Cons

• NGN deposits not available
• Higher fees for credit card purchases
• No crypto debit card available for spending, unlike some alternatives

Deposit methods	Bank transfer, Credit card, Cryptocurrency, Debit card, Apple Pay, Google Pay
Deposit fees	Fees vary
Withdrawal fees	Fees vary
Trading fees	Maker: 0.00-0.16% Taker: 0.10-0.26%

3. NairaEx – Best Nigerian exchange

NairaEx Bitcoin Exchange

1
Supported cryptos

1
Fiat currency

• Why we chose it
• Pros & cons
• Fees & deposits

NairaEx is a Nigeria-based cryptocurrency exchange that allows users to buy and sell Bitcoin with Nigerian naira.

The platform has been providing a fuss-free way for Nigerians to access the global crypto market since 2015.

With a user-friendly interface and competitive pricing, NairaEx offers a straightforward entry point if you're new to crypto.

The platform supports a number of deposit options, including bank transfers and card payments, making it easy to deposit and withdraw funds.

Pros

• Deposit and withdraw Nigerian naira
• No trading fees
• Users report responsive customer service

Cons

• You can only buy/sell Bitcoin
• Limited liquidity compared to global exchanges
• Dated UI isn't as intuitive as some alternative platforms

Deposit methods	Bank transfer, Cryptocurrency, Perfect Money
Deposit fees	None
Withdrawal fees	None
Trading fees	None

4. Coinbase – Best exchange for beginners

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Coinbase Digital Currency Exchange

250+
Supported cryptos

3
Fiat currencies

• Why we chose it
• Pros & cons
• Fees & deposits

Coinbase is a renowned global exchange known for its beginner-friendly approach to crypto. It is also one of the world's most used crypto exchanges, with more than 108 million verified users across 100+ countries and it has the second largest daily trading volume.

Coinbase's best-known product is its crypto trading platform. Customers can buy, sell or convert cryptocurrency instantly through a streamlined and simple user interface that has been designed to suit newcomers.

It is becoming equally well-known for its Learn and Earn program which rewards users with free cryptocurrency for every learning module they successfully complete.

If you are looking for something more advanced, Coinbase's Advanced Trade (formerly Coinbase Pro) features offer lower trading frees and more trading options including limit orders and stop loss orders.

Pros

• Beginner-friendly interface
• Over 200 coins
• Learn and Earn program pays out crypto rewards while you upskill

Cons

• Fees for instant buys are high
• Customer service is often reported to be slow
• Limited staking and earning opportunities
• Coinbase Visa card not available in Nigeria

Deposit methods	Bank transfer (ACH), Credit card, Debit card, PayPal, Wire transfer
Deposit fees	ACH: Free Wire transfer: US$10 SEPA: EUR€0.15 SWIFT (GBP): Free
Withdrawal fees	ACH: Free Wire transfer: US$25 SEPA: EUR€0.15 SWIFT (GBP): GBP£1
Trading fees	Maker: 0.00 - 0.4% Taker: 0.05 - 0.6%

5. Quidax – Best exchange for extra features

Quidax

20+
Supported cryptos

2
Fiat currencies

• Why we chose it
• Pros & cons
• Fees & deposits

Quidax is a Nigeria-based cryptocurrency exchange and digital asset app that allows users to buy, sell, and store popular cryptos. The platform was launched in 2018 with the goal of making it easy for Africans to access the cryptocurrency market. It has grown to become one of the larger homegrown African exchanges, claiming over 400,000 registered users across the continent.

Quidax offers a range of features to make trading easy and accessible to both beginners and experienced traders. These include a simple and intuitive user interface, low trading fees, instant deposits and withdrawals, a mobile app, and a 24/7 customer support team. It also provides an instant swap feature and an OTC trading desk for large trades.

The platform's commitment to accessibility, security, and ease of use has made it a popular choice for beginner's looking for a full-featured crypto service.

Pros

• Deposit and withdraw Nigerian naira
• Beginner-friendly interface
• Earn yield on USD deposits

Cons

• NGN deposit/withdrawal fees increase based on amount, and can add up fast
• Limited advanced trading options

Deposit methods	Bank transfer, Cryptocurrency, Online wallet
Deposit fees	Fiat: From ₦100 Crypto: None
Withdrawal fees	Fiat: From ₦200 Crypto: Network fees
Trading fees	N/A

6. Luno – Best exchange app

Luno Cryptocurrency Exchange

★★★★★

Finder score

10+
Supported cryptos

12
Fiat currencies

• Why we chose it
• Pros & cons
• Fees & deposits

With over 10 million customers in 43 countries, the Luno exchange offers a simple way to get started in crypto investing. It cements its spot as another of our highly commended trading platforms.

Access a range of popular cryptocurrencies with as little as $1 and set up recurring purchases according to your preferred frequency.

Along with its user-friendly interface and a suite of learning tools, Luno is worth checking out, especially if you're just getting started and prefer an exchange without much of a learning curve.

Pros

• Supports direct bank withdrawals and deposits. Deposit up to $200,000 per transaction into your Luno wallet directly from your bank account.
• Highly secure. Majority of its clients' digital assets are held in 'deep freeze' using a multi-sig wallet where the keys are generated and stored entirely offline and offsite.
• Intuitive trading web platform and mobile app. Beginner-friendly interface and informative learning portal make it easy for anyone to get started in crypto investing.

Cons

• High instant buy and sell fees. Luno charges a trading fee of 0.75% for instant buys and sells, which is high compared to its competitors.
• Limited cryptocurrencies. Luno only offers 8 cryptos.
• May not be suitable for active traders. Luno does not offer margin lending or advanced trading tools.

Deposit methods	Bank transfer, Cryptocurrency, PayID, Debit/credit cards
Deposit fees	Bank Transfer - $0 ($1.30 for below $50.00) PayID - $0 ($1.30 for below $50.00) Credit card - 3.5% Debit card - 3.5% Cryptocurrency - 2%
Withdrawal fees	AUD - $0 ($1.30 for below $50.00) Cryptocurrency - 2%
Trading fees	Maker: 0% Taker: 0.03-0.10%

7. Bybit – Best exchange for advanced trading

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Bybit Cryptocurrency Exchange

★★★★★

Finder score

270+
Supported cryptos

73
Fiat currencies

• Why we chose it
• Pros & cons
• Fees & deposits

Bybit is one of the world's biggest crypto trading and derivatives exchanges by volume. The Singapore-based exchange supports advanced trading types for a large number of crypto coins across a range of spot and derivatives markets. As a result, it is more suited to a seasoned crypto investor who understands leveraged trading and the additional risks that go with it.

While the exchange is known mainly for its derivatives trading feature, it also supports instant buys and has a number of crypto-earning products on offer – some of which are more complex than others.

Plus, if you are intrigued by the NFT market, Bybit's platform is a one-stop shop for minting, purchasing and bidding on NFTs as well.

Pros

• Multiple assets offered, including cryptos and NFTs
• Low trading fees
• Multi-sig cold storage wallets

Cons

• Leveraged trading is high risk, as losses can exceed deposits
• Limited spot trading pairs
• Derivatives trading is not suitable for beginners

Deposit methods	Bank transfer, Credit card, Cryptocurrency, Debit card, P2P
Deposit fees	Fees vary
Withdrawal fees	Fees vary
Trading fees	Fees vary

8. KuCoin – Best exchange for emerging altcoins

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KuCoin Cryptocurrency Exchange

740+
Supported cryptos

50
Fiat currencies

• Why we chose it
• Pros & cons
• Fees & deposits

Sign up and get up to US$10 in rewards. Make trades to get up to US$500 in rewards. T&Cs apply.

KuCoin offers an impressive selection of up-and-coming altcoins compared to other centralized crypto exchanges, which is why it was our standout pick as the best exchange if you're looking for emerging altcoins.

Usually, to buy lesser-known altcoins, you have to purchase them through a decentralized exchange (DEX) like Uniswap or PancakeSwap, which requires you to know how to use a Web3 wallet.

With KuCoin, all you have to do is create your account and, just like that, you have access to 700+ digital assets.

Keep in mind that many of these assets are brand new, untested and much more volatile in price than assets like BTC or ETH, so proceed with caution.

Pros

• Provides access to 700+ digital assets
• Know Your Customer (KYC) process is not required to use the exchange
• Notable P2P exchange
• Offers staking
• Low trading fees

Cons

• Numerous poor customer service reviews
• Many of the assets listed on KuCoin are highly volatile in price

Deposit methods	Bank transfer, Credit card, Cryptocurrency, Debit card, P2P
Deposit fees	None
Withdrawal fees	Cryptocurrency: Fees vary
Trading fees	Maker: 0.005-0.1% Taker: 0.005-.08%
Advanced Trading Features	Yes

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We're a team of crypto nerds with extensive experience in investing, trading and decentralised finance but we also remember how it feels to be a beginner.

How to choose the best crypto exchange in Nigeria

It's important to research a wide range of crypto platforms and compare the pros and cons of each option. The best crypto exchange for you depends on what you're looking for, so consider the following:

• User-friendliness and trading tools

  If you're a crypto novice, getting started buying and selling coins and tokens can be complicated and confusing. On the other hand, experienced traders may want a platform with special features such as advanced charting and order types, plus the option to trade on margin.

  If you're a beginner at crypto trading, look for a platform with a straightforward user interface that's easy to understand.

• Payment methods

  Can you deposit funds into your account via bank transfer, debit card and/or PayPal? The more payment options an exchange has, the more convenient it generally is to use. Make sure your exchange has deposit and withdrawal options that work for you. Remember to check the fees associated with different methods.

• Type of trading

  First, consider the type of trades you want to place. Some exchanges offer these trading options:

  • Fiat-to-crypto
  • Crypto-to-crypto
  • Both fiat-to-crypto and crypto-to-crypto

  For example, if you want to buy BTC with Nigerian nairas, you'll need to find a platform that allows you to buy coins via bank transfer or card. Alternatively, if you want to exchange your BTC or ETH holdings for another cryptocurrency, you'll want a platform that offers direct crypto-to-crypto trades.

• Cryptocurrency selection

  Consider which currencies you want to trade and which platforms list those currencies in one or more trading pairs:

  • Cryptocurrencies. There are thousands of different cryptocurrencies in existence, so don't expect to find them all listed on any single platform. Major cryptocurrencies such as BTC, ETH, XRP and others in the top 20 coins by market capitalisation are listed on an extensive range of exchanges. However, rarer altcoins may be much harder to find.
  • Fiat currencies. If you want to buy crypto with Nigerian nairas, check which currencies the platform accepts.

  You can find an overview of the crypto assets and fiat currencies that each exchange supports in the table. Read the full review for a more detailed analysis.

• Fees

  From depositing to trading and withdrawing funds, how much will it cost you to buy and sell crypto on each platform? Consider your payment method, the currencies you want to use and any discounts you may be entitled to when completing these calculations. For instance, fees for credit card purchases are usually higher than for a bank transfer.

  You can find detailed information on fees for each exchange by clicking on the "View details" text in the table.

• Limits

  Are there any limits on the amount you can deposit into your account or the amount of cryptocurrency you can buy or sell per transaction or per day? This question typically only applies to what some colloquially call "crypto whales" or people who make transactions ranging in value from hundreds of thousands to millions of Nigerian nairas.

  Most exchanges that require the Know Your Customer (KYC) process allow you to deposit and withdraw tens of thousands of Nigerian nairas per day. This is more than most average traders deposit and withdraw on a daily basis.

• App or desktop

  How can you access your trading account? Certain platforms only allow you to trade through a web browser, but some have mobile apps. If trading on the go is important to you, it's worth reading up on whether or not the exchange has a mobile app and how easy it is to use.

• Earning

  If you are looking to earn a yield on your cryptocurrency, you can do so through exchanges that offer earning options. Certain exchanges allow you to either lend or stake your cryptocurrency as a means to earn a yield on it.

  Lending involves loaning out your cryptocurrency to other users or businesses who pay you a fee for doing so. Staking involves locking up your assets to help them secure a blockchain network.

  Before using any exchange to generate yield, make sure you understand the risks involved, what type of earning the exchange offers and whether it's appropriate for your needs.

• Prices

  The price of a digital asset is determined by whatever people are willing to pay for it.

  Most brokers or instant buy services charge a fee as part of the service it provides. This means you will pay anywhere from a fraction of a percent to a few percent more than the going rate of the asset when you make the purchase.

  If you purchase your asset in the spot market, you can set the price that you want to pay and then wait for your order to be filled. For example, if you are willing to pay US$21,000 for 1 BTC, then you can set a limit order to buy BTC at that price in hopes that someone is willing to sell it to you at that price.

• Liquidity

  The level of liquidity on an exchange affects the ease and speed with which you can complete trades. If there's a high level of liquidity – in other words, if the exchange has a high trading volume – then trades should be completed quickly and easily.

  One of the biggest benefits of trading on larger crypto exchanges is they get enough orders to match buyers and sellers without any difficulty. However, low liquidity can lead to substantial price fluctuations.

  You can check websites such as CoinGecko or CoinMarketCap to get a better idea of an exchange's level of liquidity.

• Account verification process

  Most centralised crypto exchanges these days require you to complete a KYC or identity verification process.

  But some exchanges still let you deposit crypto and trade crypto-to-crypto without completing the KYC process.

  The said exchanges may not be properly regulated, so please proceed with caution if you choose to use these, especially if they are located offshore.

  Keep in mind that these exchanges may limit the amount of crypto you can withdraw from the exchange on a daily basis.

  For exchanges that require the KYC process, verification requirements vary. You will likely need to provide some or all of the following:

  • Your name
  • Your email address and phone number
  • Your address
  • Proof of ID
  • Proof of address
  • A photo of yourself holding a signed declaration

  If you need to provide a wide range of personal information, it's important to be sure you're dealing with a trusted exchange.

  It's also a good idea to research how long you can expect the verification process to take. For some exchanges, it can take up to 2–3 business days while others are near-instant.

  Finally, be aware that some exchanges require you to complete additional verification tasks to unlock full account features and permit higher transaction limits.

• Broker vs exchange

  What is the difference between a brokerage and an exchange? How long will it take for your transaction to be completed? Is one better than the other?

  Broker. Brokers buy and sell cryptocurrency to you. They typically charge a convenience fee for this, which may be hidden as a spread or markup on the going market rate.

  The advantage of using a broker is your transactions should be instant. When you purchase crypto using either the fiat you've deposited into your account or with a card, that crypto should be available to you right away.

  The same goes for when you decide to sell your crypto for fiat. You sell the broker your crypto in exchange for fiat and the fiat should instantly register in your account.

  Exchange. An exchange has a spot market, which is where users come to place buy and sell orders on the open market. Doing so allows you to set a specific price for an asset. For instance, if you think the price of Bitcoin will go down from US$23,000 to US$21,000, you can set an order for US$21,000 and wait for it to be filled. Likewise, you can set an order to sell your assets for a higher price than what is being offered.

  Exchanges may also offer brokerage services.

  Most exchanges allow you to withdraw crypto to your own wallet. This is sometimes not the case with brokers.

  Whether you use an exchange or broker will come down to your own needs and whether you plan to trade regularly or make a few one-off purchases now and then.

• Security features

  Security is a crucial factor to consider when choosing a crypto exchange.

  There have been more than a handful of cases in which exchanges have been hacked in crypto's history, so do your research on what security measures are in place to protect your funds.

  Questions you should ask include the following:

  • Is the exchange ld and regulated by the proper authorities?
  • Is 2-factor authentication (2FA) – a code sent to your phone each time you log in – supported?
  • What percentage of customer funds are stored offline or in cold storage? Cold storage refers to storing the private keys to digital assets somewhere offline to greatly reduce the ability for hackers to access the assets.
  • What level of verification is required to open an account?
  • Have you checked the exchange's trust score on CoinGecko or CER?

• Local regulation

  Though authorities around the world are starting to catch up to the rapid growth of crypto exchanges, the industry as a whole is still lightly regulated. How an exchange is regulated depends on where it is based, so do your research to find out whatever information you can about the platform operators.

  Cryptocurrency exchange operators based in Nigeria are likely required to meet the government's Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) compliance and reporting obligations.

  It's also worth noting that due to regulatory requirements, users from certain countries will not be allowed to access some exchanges. As always, check the fine print to find out whether any of these geographical restrictions apply in Nigeria.

• Customer support

  This is a crucial but often overlooked factor when comparing crypto exchanges. If you ever have a problem with an individual transaction or with your account, how will you access a platform's customer support team?

  You'll need to consider the following:

  • Is customer support available through email, phone and/or live chat?
  • Is support available 24/7 or only during specific hours?
  • How quickly does the support team respond to inquiries?
  • Is support offered in a language you are comfortable speaking?

• Reputation

  Does the exchange have a reputation as a secure and reliable platform? Finder has reviewed a number of crypto exchanges to craft a list of the best crypto exchanges in Nigeria.

  In efforts to assess the soundness and reliability of crypto exchanges, we look at whether or not exchanges are properly regulated, how they secure the private keys to the crypto they hold and the level of customer support they provide, among other factors.

  You can also read our dedicated review for each exchange or see what other users think of the platform using a third-party service like Trustpilot.

Compare more crypto trading platforms and apps in Nigeria

How to use a cryptocurrency exchange

For the sake of our example, let's assume that you have ₦500 that you want to use to buy Bitcoin (BTC).

1. Compare cryptocurrency exchanges to find one that offers the right service for you.
2. Register for an account on the platform and provide any personal details and proof of ID required.
3. Navigate your way to the "Buy" screen.
4. Select BTC as the cryptocurrency you want to buy.
5. Select your payment currency, which in this case is NGN, and specify the amount you want to spend as ₦500.
6. Select your payment method, such as a debit card payment or bank transfer.
7. Enter your payment details, such as your account number if sending a bank transfer or your card number and CVV if paying by card.
8. Review the full details of your transaction, including the fees that will apply and the amount of BTC you are purchasing.
9. If you're happy to proceed, click "Buy BTC".
10. Once the transaction has been processed, the BTC will be deposited into your exchange wallet. However, please note that some brokers will automatically send your purchased BTC to an external wallet address that you nominate.

How to pay for your cryptocurrency in Nigeria

Crypto exchanges in Nigeria support a range of deposit methods, including the following:

• Credit and debit cards
• Bank and wire transfers
• Cryptocurrency transfers
• Peer-to-peer (P2P) payments
• Neteller, Skrill and other online payment services

Accepted payment methods vary between exchanges. Prior to signing up, it's worth checking that your preferred payment method is supported.

The different types of cryptocurrency exchanges

The term "exchange" may refer to a variety of cryptocurrency brokers, trading platforms and other services. Different types of exchange are often more geared toward beginners or experienced users.

• Cryptocurrency brokers. Buy directly from cryptocurrency dealers for simple and quick purchases. A broker will facilitate an instant purchase of the digital asset of your choosing and will not offer spot trading.
• Cryptocurrency trading platforms (suited to beginner/intermediate users). Buy and sell cryptocurrency on an open market for competitive fees, a wide selection of cryptocurrencies and optional features like margin trading. Many exchanges now offer brokerage services to be more beginner-friendly.
• Cryptocurrency derivatives platforms (suited to advanced users and not available in some countries). These trading platforms don't sell cryptocurrency outright. Instead, they let certain users trade cryptocurrency derivatives in regions where this restricted-access feature is available. They're for advanced traders who want high speed, high leverage and deeply liquid platforms with a full range of features.

Risks of using a crypto exchange

• Cybersecurity breaches. Hacks and scams are, unfortunately, commonplace in the crypto space. Exchange-related security breaches and targeted phishing scams remain a major concern for exchanges and their customers.
• Not your keys. "Not your keys, not your crypto" is a common industry saying and refers to holding your digital assets in a wallet that another person or company controls, such as on an exchange. By storing cryptos on an exchange rather than in a non-custodial wallet, you're relinquishing full ownership of those assets and putting trust in a third party – which some may see as contradictory to the decentralised philosophy of crypto.
• Lack of consumer protection. While crypto exchanges are increasingly regulated in Nigeria and may be registered with a local regulator, they are still lacking a lot of consumer protections such as mandatory insurance or strict rules about how user assets are managed.
• Proof of reserves. Since the widely publicised collapse of FTX, many traders and investors have demanded centralised exchanges provide proof of reserves and user deposits. This may be done by a third-party auditor or through the use of on-chain data. Proof of reserves is still an evolving concept, and it's not clear yet what the best practices are or how reliable it will prove to be.
• Transaction limits. Most crypto trading platforms have daily deposit and withdrawal limits. This means that even though you may have, for example, 10,000 NGN available, you may not be able to access and withdraw the total balance. Transaction limits depend on the exchange and a local regulator stipulations and typically increase as you provide additional KYC information.
• Frozen accounts. Crypto exchanges freezing deposits and withdrawals can happen without warning. If your account is frozen, you will not be allowed to remove your funds until the exchange approves or denies your request. Precautionary measures such as only holding a trading balance on an exchange are recommended.
• Asset delistings. Centralised exchanges can opt to delist a cryptocurrency at any time. This can happen for numerous reasons, including poor asset performance, security concerns or anti-money laundering (AML) breaches. If delisting is taking place, you will be notified by the exchange and forced to sell your assets or remove them from the platform.

Is it safe to store your cryptocurrency on an exchange?

Securely store your crypto:

• Best crypto wallets
• Best hardware wallets

Cryptocurrency is held in digital wallets. Some exchanges will give you your own wallet that lets you hold cryptocurrency in your exchange account and then transfer it anywhere as desired.

However, once you have purchased what you consider to be a sizeable amount of digital assets, you may want to consider transferring the private keys to those assets to a self-custodial wallet.

This is because the exchange controls the private key to your wallet, which means you don't have total control of your funds. And with exchanges sometimes falling victim to hackers, there is some degree of risk involved with leaving the private keys to your crypto in the hands of a centralised exchange.

Learn about wallets

Bottom line

Not all crypto exchanges are created equal and not all crypto buyers and sellers have the same trading needs. The best exchange or platform for one person might not necessarily be the right choice for someone else, so it's essential to do your own research.

Read our reviews of some of the most popular cryptocurrency exchanges in Nigeria and around the world before you decide which to use. Compare the features, fees and pros and cons of each platform and consider whether they align with your investment goals and budget.

Frequently asked questions

• Which crypto exchange is safest?

  The safest exchanges in Nigeria have stringent security measures like Know Your Customer (KYC) registration, password protection and a 2-factor authentication (2FA) option.

  Other green flags to look out for include the majority of user funds held in cold storage and a publicly available insurance policy for user deposits.

  Keep in mind that all centralised cryptocurrency exchanges are vulnerable to hacking, so consider using a hardware wallet for added security.

• Which crypto exchange has the lowest fees?

  There are lots of fees to take into account when choosing an exchange. Exchanges like Kraken and Binance are known for having competitive transaction fees.

  But, it's also important to consider deposit and withdrawal fees, possible account inactivity fees and spreads on top of this. A good place to start is by comparing fees with our table.

• What is the most trustworthy crypto exchange?

  Due diligence and research are incredibly important when choosing a crypto exchange you can trust.

  As a good rule of thumb, look for exchanges with a long history of serving customers without hacks — like Coinbase, Kraken or Binance.

  A great way to dive deeper is by reading our extended reviews of each crypto exchange and researching customer feedback on platforms like Trustpilot as well as industry data.

• Why do some crypto exchanges ask me to verify my identity?

  Exchanges in Nigeria and several other countries are subject to anti-money laundering and counter-terrorism financing (AML/CTF) laws. In order to comply, exchange operators must gather certain details about their customers – which is why you may be asked to provide proof of ID. This process is typically referred to as "know your customer" or KYC.

Finder's crypto exchange reviews