The Busha app has become one of the most talked-about crypto apps in Nigeria, and many people want to know if it actually lives up to the hype. With about 32% of Nigerians owning and trading crypto, the need for a trustworthy platform has never been higher. But is Busha truly safe to use or just another platform that is out to scam users?

This review breaks down everything you need to know like how the app works, the key features it offers, pros and cons, etc. 

What is Busha?

Busha app review

Busha is an app that allows users to buy, sell, and store cryptocurrencies like Bitcoin and Ethereum using Naira. Think of it as a digital wallet and exchange all in one, designed to make crypto simple, safe, and accessible for everyone. Busha is backed by the Securities and Exchange Commission (SEC) and they were given a provisional license in 2024 as a regulated Virtual Asset Service Provider.

This means the platform follows the rules, keeps your funds secure, and operates transparently under Nigerian law. Busha allows you to  easily deposit Naira, trade crypto, and even hold it for the future and the platform meets all formal regulatory standards. 

Key Features of Busha

1. Local currency support

Users can deposit and withdraw in Naira, making it simple to interact without needing foreign currency. This lowers the barrier for many who don’t have foreign-denominated wallets. 

2. Buy, sell, and swap crypto

The app supports basic crypto trading: buying crypto with Naira, swapping one crypto for another, and selling back to fiat (or Naira) when allowed. 

3. User-friendly interface

Busha is designed to be easy to use, with intuitive controls and simplification of complex processes. People new to crypto will especially find the app easy to use.

4. Additional services

Beyond basic exchange, Busha has introduced services like “Busha Spend” which allows users to spend digital assets  and potentially yield or savings products for crypto. This makes the app useful beyond just trading crypto alone.

5. Regulation and compliance

As noted above, Busha has a provisional license from the Nigerian SEC to operate as a Virtual Asset Service Provider. That means it must follow compliance standards and is officially recognised. 

What Are the Security Features of Busha?

1. Data protection

Busha uses advanced encryption technologies to ensure that user data is kept private and secure. This means that sensitive information such as personal details and transaction records are protected from unauthorized access. In addition, the platform stores users’ crypto assets in a secure, regulation-compliant infrastructure, which is designed to prevent hacks and cyberattacks.

2. Identity verification (KYC)

Busha requires identity verification through Know Your Customer (KYC) procedures before users can access the full range of services. This process involves submitting valid identification and sometimes additional information to confirm the user’s identity. KYC helps prevent fraud, money laundering, and other illegal activities.

3. Anti-fraud measures

Busha takes active steps to detect and prevent fraudulent activity on its platform. The exchange monitors transactions for unusual or suspicious patterns that could indicate scams or theft attempts. These measures ensure that any potential risks are identified quickly and addressed before they can affect users. 

4. Protection against scams

Busha educates its users about common scams and phishing attempts. The platform regularly warns against fake emails or messages that pretend to be from Busha, which often aim to steal login credentials or private keys. Users are advised to always verify email domains, avoid clicking on suspicious links, and enable two-factor authentication (2FA) for additional account security.

5. Licenced by SEC

Busha operates under a provisional license as a regulated Virtual Asset Service Provider in Nigeria. This regulatory oversight requires the platform to follow strict rules similar to traditional banks and financial institutions. Compliance includes adhering to anti-money laundering (AML) standards, combating financing of terrorism (CFT), and maintaining transparent operations. 

Pros and Cons of Busha App

Pros

  • Local-currency deposits and withdrawals make crypto accessible to many Nigerians
  • Easy-to-use interface suitable for beginners and first-time crypto users
  • Official recognition via provisional license from Nigerian SEC which provides  regulatory compliance
  • A variety of services such as trading, spending crypto, possibly savings/yield options
  • Security controls, identity verification, and anti-phishing guidance aim to protect users.

Cons

  • As with many crypto platforms, digital asset value can be volatile, so investments carry risk
  • The range of supported cryptocurrencies can be limited compared to global exchanges. Some desired coins may not be available
  • The value you hold may drop suddenly if the market moves unfavourably due to fluctuations 
  • Regulatory license is “provisional,” which means full regulatory frameworks in Nigeria for crypto are still evolving.
  • Withdrawal and deposit delays are a potential risk depending on network, bank processes, or compliance checks.

Steps to Get Started with Busha

  • Download the Busha mobile app from their website or on Google Play Store or App Store
  • Sign up and complete required registration information. This includes identity verification steps (KYC) such as submitting valid ID or verification documents
  • Deposit Naira into your Busha wallet using supported payment methods. This allows you to buy crypto
  • Select the cryptocurrency you want to buy, or choose to swap between cryptos if needed.

Is Busha App Legit or Scam?

The short answer is yes. Busha is a trusted platform for cryptocurrency in Nigeria. It is regulated by the Nigerian Securities and Exchange Commission as a Virtual Asset Service Provider under a provisional license, giving it formal recognition and oversight.

The platform provides a range of services, including crypto trading, wallet storage, support for Nigerian Naira, and options for spending crypto. Busha’s strong encryption, compliance processes, and security guidance align with the standards of reputable exchanges, offering users a reliable environment to manage digital assets.

However, like any crypto platform, using Busha comes with risks. Cryptocurrencies are highly volatile, and market fluctuations can affect the value of your holdings. Not all cryptocurrencies may be available at all times, and users must remain vigilant against phishing and other scams that exist both within and outside legitimate platforms.

Frequently Asked Questions (FAQs) on Busha App Review

Is Busha licensed and regulated in Nigeria?

Yes. Busha holds a provisional licence from the Nigerian SEC as a Virtual Asset Service Provider, which means it operates under regulatory oversight. 

Can I deposit Naira and withdraw in Naira on Busha?

Yes. Busha supports Naira deposits and withdrawals, making it easier for Nigerians without foreign currency wallets to trade crypto. 

Is my crypto safe on Busha?

Busha uses encryption, requires user verification, and enforces security policies designed to protect accounts. The platform also educates users on avoiding phishing attempts. 

Can I trade many types of cryptocurrencies on Busha?

Yes to a degree. Busha supports popular cryptocurrencies and offers swaps among them. However, the coin selection may be more limited than global exchanges, so some assets might not be available. 

Does using Busha guarantee profit?

No. Like all crypto exchanges, gains and losses depend on market volatility. Crypto value can rise or fall, and returns are never guaranteed.

Conclusion

Busha is a great app for Nigerians who want to get started with crypto trading. It is licensed, supports Naira, and has a simple, user-friendly interface that makes buying, selling, and storing crypto straightforward. With its strong focus on compliance and security, Busha stands out as one of the more trustworthy platforms in Nigeria, making it a great choice for beginners exploring the world of digital assets.

Last updated on November 29, 2025