USDT (Tether) is the most popular stablecoin in Nigeria for good reason: its value stays pegged to the US Dollar, making it perfect for storing value and transferring money. This complete guide shows you exactly how to sell USDT and receive Naira in your Nigerian bank account, step by step. We cover the different USDT networks (TRC20, ERC20, BEP20), their fees, and the safest platforms to use in 2026.
Before you begin the process of selling USDT for Naira, make sure you have the following ready. Having everything prepared will make the process smooth and quick.
USDT exists on multiple blockchain networks simultaneously. The same $100 USDT is worth the same on every network, but the cost and speed of transferring it differs dramatically. Think of it like sending a package — the contents are the same, but you can choose between express shipping (expensive) and standard shipping (affordable). Understanding these differences is critical to saving money when selling USDT in Nigeria.
Many Nigerians lose money unnecessarily by using the wrong network. For example, sending $50 worth of USDT on the Ethereum (ERC20) network during peak congestion could cost you $30-50 in gas fees alone — that is more than half your money gone to fees. Choosing TRC20 instead would cost you about $1. This is why network selection is one of the most important decisions you will make when selling USDT.
Let us break down each network so you can make the best choice for your situation.
Gas Fee: ~$1 (paid in TRX)
Confirmation Time: ~3 minutes (19 confirmations)
Best For: Most Nigerian users, everyday USDT transactions
TRC20 is the TRON blockchain's version of USDT and it is by far the most popular choice in Nigeria. The gas fees are consistently low regardless of network congestion, and transactions confirm quickly. About 70% of all USDT transactions in Nigeria happen on TRC20. If you are unsure which network to choose, go with TRC20.
Gas Fee: $5-$50+ (paid in ETH)
Confirmation Time: 5-15 minutes (12 confirmations)
Best For: Large transactions where security is the top priority
ERC20 is the original USDT network on Ethereum. It is the most secure and widely accepted, but the gas fees make it impractical for small transactions. Gas fees on Ethereum fluctuate wildly based on network congestion — during busy periods, a simple USDT transfer can cost $50 or more. Only use ERC20 if you are moving large amounts (above $1,000) where the fee is a small percentage of the total, or if your USDT is already on ERC20 and bridging to another network would cost more.
Gas Fee: ~$0.10 (paid in BNB)
Confirmation Time: ~3-5 minutes (15 confirmations)
Best For: Users already on the Binance ecosystem
BEP20 runs on the BNB Smart Chain (formerly Binance Smart Chain). It has the lowest gas fees of all networks, but it is less widely supported than TRC20 or ERC20. If you already have USDT on BEP20 from using Binance or PancakeSwap, this is a great option. Monica supports BEP20 deposits, so you can send directly without needing to bridge to another network.
| Feature | TRC20 | ERC20 | BEP20 |
|---|---|---|---|
| Gas Fee | ~$1 | $5-$50+ | ~$0.10 |
| Speed | ~3 min | 5-15 min | 3-5 min |
| Security | High | Very High | High |
| Popularity in Nigeria | Most Popular | Common | Growing |
| Monica Deposit Fee | Free | Free | Free |
| Best For | Everyone | Large amounts | Binance users |
Follow these six steps to sell your USDT and receive Naira in your Nigerian bank account. The entire process takes 5-40 minutes and Monica handles the conversion automatically — no need to negotiate with P2P vendors or wait for buyer confirmation.
Monica is the recommended platform for selling USDT in Nigeria for several reasons. It is SEC-compliant, meaning it operates within Nigerian financial regulations. It has over 500,000 active users and has processed more than 400 billion Naira in transactions. USDT deposits are free on all networks (TRC20, ERC20, BEP20), and bank withdrawals are also free. Most importantly, the conversion is automatic — once your USDT arrives, Monica converts it to Naira and sends it to your bank without you needing to find a buyer or negotiate a price.
Other platforms like Binance P2P, Bybit P2P, and Paxful also allow you to sell USDT, but they require you to find a buyer, negotiate, and risk scams. Monica eliminates all these risks with automatic conversion.
Visit monica.cash or download the Monica app from the Google Play Store or Apple App Store. The signup process takes less than 2 minutes. You will need to provide your full name, email address, phone number, and Nigerian bank account details (account number and bank name). Your bank account is where Monica will send your Naira after converting your USDT.
Make sure the bank account name matches the name on your Monica account. This is a security measure that prevents fraud and protects your money. Once your account is created, you can start selling USDT immediately — there is no waiting period or lengthy verification process.
In the Monica app, tap on "Sell Crypto" or "Deposit" and select USDT from the list of supported cryptocurrencies. You will then be asked to choose which network your USDT is on. This is a critical step — you must select the same network that your USDT is currently on in your sending wallet.
If your USDT is in Trust Wallet on the TRON network, select TRC20. If it is in MetaMask on Ethereum, select ERC20. If it is in Binance on BNB Smart Chain, select BEP20. Choosing the wrong network will result in lost funds that cannot be recovered. When in doubt, check your sending wallet to confirm which network your USDT is on.
Our recommendation: If you have the option, always send on TRC20 for the lowest fees. If your USDT is on ERC20 and the amount is small (under $200), consider bridging it to TRC20 first using your exchange — the bridge fee may be less than the ERC20 gas fee.
After selecting the network, Monica will display a unique wallet address for you to send your USDT to. This address is specific to your account and to the network you selected. Copy this address by tapping the "Copy" button — do not try to type it manually as wallet addresses are long strings of characters and any mistake means lost funds.
Some important things to note about your deposit address:
Open your crypto wallet (Trust Wallet, MetaMask, Binance, Coinbase, or wherever your USDT is stored). Navigate to the "Send" or "Withdraw" function and paste the Monica deposit address you copied in the previous step. Enter the amount of USDT you want to sell.
Before confirming the transaction, triple-check the following:
Once you are satisfied everything is correct, confirm the transaction. Your wallet will process the transfer and you will receive a transaction hash (TXID) which you can use to track the transfer on the blockchain.
Once your USDT transaction is confirmed on the blockchain, Monica automatically converts it to Naira at the current market rate and sends the money to your registered bank account. The entire settlement process takes 5-40 minutes depending on your bank and the time of day.
You will receive a notification from Monica confirming the conversion and showing the exact Naira amount sent to your bank. You will also receive a credit alert from your bank. The bank withdrawal is completely free — Monica does not charge any fee for sending Naira to your bank account.
The rate you receive is the live market rate at the moment your USDT deposit confirms on the blockchain. Monica updates rates every 60 seconds to ensure you get fair market value. There are no hidden markups or unfavorable exchange rate spreads.
Follow these tips to get the most out of your USDT-to-Naira conversions and avoid common pitfalls that cost Nigerian crypto users money.
Unlike Bitcoin or Ethereum, USDT is a stablecoin pegged to the US Dollar. This means USDT does not fluctuate in Dollar value — 100 USDT is always worth approximately $100. However, the Naira value of your USDT does change because the Dollar-to-Naira exchange rate fluctuates daily.
If you are not in urgent need of Naira, you might get a better rate by monitoring the Dollar-to-Naira parallel market rate. When the Naira weakens against the Dollar, your USDT buys more Naira. When the Naira strengthens, your USDT buys less Naira. However, trying to time currency movements is risky — if you need the Naira, convert it and move on.
Protecting your USDT and your Monica account is essential. Here are key security practices every Nigerian crypto user should follow:
These are the most common errors Nigerian users make when selling USDT. Avoid them and you will have a smooth, profitable experience every time.
While Monica is the recommended platform, here is an honest comparison of all methods available to Nigerian users for selling USDT.
| Method | Speed | Fees | Safety | Best For |
|---|---|---|---|---|
| Monica (Automatic) | 5-40 min | $0 + free withdrawal | Very Safe (SEC) | Everyone |
| Binance P2P | 15 min - 2 hrs | 0% (but rate spread) | Moderate | Experienced traders |
| Bybit P2P | 15 min - 2 hrs | 0% (rate spread) | Moderate | Bybit users |
| WhatsApp/Telegram Traders | Varies | Negotiated | Very Risky | No one (avoid) |
| Gift Card Exchange | 1-24 hrs | 10-20% loss | Risky | No one (avoid) |
P2P (peer-to-peer) trading was the dominant method for converting USDT to Naira for years, but it comes with significant risks that automatic platforms like Monica have solved. With P2P, you are trusting a stranger with your money. Even on platforms with escrow, scammers have found ways to exploit the system through fake payment screenshots, chargeback fraud, and social engineering.
The biggest risk with P2P in Nigeria is the EFCC factor. When you receive Naira from a P2P buyer, you have no way of knowing where that money came from. If the buyer used funds from a fraudulent source, your bank account could be flagged or frozen by the EFCC during their investigation — even though you did nothing wrong. This has happened to thousands of innocent Nigerian crypto traders.
With Monica, the Naira comes directly from the platform — not from a random stranger. Monica's funds are verified and legitimate, so there is zero risk of receiving tainted money that could get your account frozen. This alone makes automatic platforms worth using even if the rate is slightly less favorable than the best P2P offer.
TRC20 (TRON network) is the best network for selling USDT in Nigeria. It has the lowest gas fees at around $1, fast confirmation times of about 3 minutes, and is widely supported by platforms like Monica. ERC20 works but has much higher gas fees ($5-$50), while BEP20 is also cheap but less commonly supported.
On Monica, the entire process takes 5-40 minutes from sending USDT to receiving Naira in your bank account. TRC20 deposits confirm in about 3 minutes, ERC20 takes 5-15 minutes. After blockchain confirmation, Monica automatically converts and sends Naira to your bank.
Yes, it is legal to sell USDT in Nigeria. While the CBN restricted banks from servicing crypto exchanges in 2021, the SEC has since created a regulatory framework for digital assets. Platforms like Monica operate under SEC compliance, making USDT-to-Naira conversion fully legal and regulated.
On Monica, USDT deposits are completely free on all networks (TRC20, ERC20, BEP20). There is no platform fee for USDT sales. Bank withdrawals are also free. The only fee you pay is the blockchain gas fee when sending USDT from your wallet, which varies by network: TRC20 ~$1, BEP20 ~$0.10, ERC20 $5-$50.
Most legitimate platforms require basic KYC (Know Your Customer) verification to comply with Nigerian regulations. On Monica, you need to provide your name, phone number, and bank account details. This protects you from fraud and ensures your transactions are secure. Platforms that skip KYC entirely are often unregulated and risky.
Monica accepts USDT deposits starting from as low as $1. There is no minimum withdrawal amount for Naira either. This makes it accessible for anyone, whether you are selling $5 or $50,000 worth of USDT.
Sending USDT on the wrong network can result in permanent loss of funds. For example, sending ERC20 USDT to a TRC20 address means your tokens go to a different blockchain and cannot be recovered. Always double-check that the network in your sending wallet matches the network you selected on Monica before confirming the transaction.
Yes, Monica is one of the safest platforms for selling USDT in Nigeria. It is SEC-compliant, has over 500,000 users, has processed over 400 billion Naira in transactions, uses automatic conversion (no P2P vendor risk), and offers free bank withdrawals. There is no counterparty risk since the conversion is handled automatically by the platform.
Join 500,000+ Nigerians converting USDT to Naira safely on Monica — free deposits, free withdrawals, automatic conversion.
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