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 | 16 (BTC, USDT, ETH, USDC, SOL, BNB, TRX, LTC, XRP, DOGE, ADA, MATIC, AVAX, BCH, SHIB, DOT) | 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 (Kudiwave Technologies Ltd) | 2013 |
| Active User Base (NG) | 500,000+ | ~50,000 global reviews |
| Lifetime NGN Volume | ₦400+ billion | Not publicly disclosed |
"First time using Monica I was sceptical. Sent 5000 SOL as a test. Three minutes later naira was in my Moniepoint."
"The best part isn't the speed. It's that I never have to argue with a vendor about rate again."
"Withdrew to Palmpay 14 times this month without a single failed payout. That alone is worth it."
"Sent 2 SOL to my Monica wallet on a Sunday night. Naira hit my Kuda account before I could finish making tea."