On the three things Nigerian users care about fees, speed, reliability Monica.cash beats Luno cleanly.
| Feature | Monica.cash | Luno |
|---|---|---|
| Transaction Fee | 0% | Up to 2% buy/sell + withdrawal |
| Typical Payout Speed | Under 60 seconds | 30–120 minutes typical |
| Supported Coins | 7 (BTC, ETH, SOL, TRX, BNB, USDT, USDC) | BTC, ETH, USDT, USDC, XRP, BCH, LTC, SOL |
| Bank Coverage | All NIBSS-connected banks (40+) | Most NIBSS banks |
| App Store Rating | 4.6★ (App Store) / 4.7★ (Play) | 4.5★ / 4.3★ |
| KYC Requirement | BVN or NIN + selfie (4 min) | Full ID + selfie + proof of address |
| Customer Support | 24/7 in app chat, ~2 min response | Standard ticket support |
| Founded | 2022 (Monica Technologies Limited) | 2013 |
| Active User Base (NG) | 500,000+ | ~50,000 global reviews |
| Lifetime NGN Volume | ₦400+ billion | Not publicly disclosed |
"I run a small business and move money through here weekly. Zero failed payouts so far."
"Left Patricia after they delayed my payout for days. With Monica the money just enters, no story."
"Switched from Patricia and never looked back. Faster, and the 0% fee is real I checked the maths."
"Cashed out the day naira was falling and locked a solid rate while P2P people were still queuing."