Quick Answer: Nigeria's Top 10 Cryptocurrencies
The most popular cryptocurrencies in Nigeria are: 1. USDT (most traded by volume), 2. Bitcoin (BTC) (most well-known), 3. Ethereum (ETH), 4. Solana (SOL), 5. BNB, 6. TRON (TRX), 7. USDC, 8. Dogecoin (DOGE), 9. XRP, and 10. TON. All of these can be sold for Naira on Monica with free bank withdrawals.
Nigeria is consistently ranked among the top five countries globally for cryptocurrency adoption. Tens of millions of Nigerians interact with crypto in some form — whether receiving international payments, trading for profit, storing value against Naira depreciation, or earning through DeFi protocols. But with thousands of cryptocurrencies in existence, which ones actually matter in the Nigerian market?
This guide examines the 10 most popular cryptocurrencies among Nigerian users in 2026, explaining what each coin does, why it has gained traction in Nigeria specifically, and how you can convert each one to Naira when needed.
Bitcoin (BTC) — Digital Gold
Bitcoin is the original cryptocurrency, created by the pseudonymous Satoshi Nakamoto in 2009. It introduced the concept of a decentralized digital currency that operates without banks, governments, or intermediaries. Bitcoin's fixed supply of 21 million coins makes it inherently deflationary — a property that has earned it the nickname "digital gold."
Why it is popular in Nigeria: Bitcoin was the first cryptocurrency most Nigerians encountered. It serves as a store of value against Naira depreciation — as the Naira has weakened over the years, Bitcoin's value in Naira terms has increased dramatically. Bitcoin is also widely used for international transfers, allowing Nigerians to send and receive value globally without the restrictions and fees of traditional banking. Nigeria has consistently been among the world's top Bitcoin trading markets. For a complete explanation, read our beginner's guide to Bitcoin.
Sell Bitcoin for NairaUSDT (Tether) — The Dollar Stablecoin
USDT (Tether) is a stablecoin — a cryptocurrency designed to maintain a stable value of exactly $1 USD. It achieves this through reserves held by Tether Limited that back each token. USDT is the most widely traded cryptocurrency in the world by daily volume, surpassing even Bitcoin.
Why it is popular in Nigeria: USDT is arguably the most important cryptocurrency for Nigerian everyday use. Its stable dollar value makes it perfect for receiving international freelancing payments (no conversion volatility), holding savings in dollars (protecting against Naira depreciation), remittances from family abroad, and business payments. The availability of USDT on cheap networks like TRC20 (fees under $1) has made it accessible to everyone. Read our detailed USDT guide for Nigerians.
Sell USDT for NairaEthereum (ETH) — The Smart Contract Platform
Ethereum is the world's second-largest cryptocurrency and the first blockchain to introduce smart contracts — self-executing programs that run on the blockchain. This innovation created an entirely new industry: decentralized applications (DApps), DeFi (decentralized finance), and NFTs all run primarily on Ethereum.
Why it is popular in Nigeria: Ethereum is popular among Nigerian tech-savvy users for DeFi yield farming and liquidity provision, NFT creation and trading, receiving ETH payments from international projects, and as a long-term investment alongside Bitcoin. The Ethereum ecosystem is the largest in crypto, and Nigerian developers actively build on it. The main drawback is high gas fees on the Ethereum mainnet, which has pushed some activity to Layer 2 solutions and competing chains like Solana and BNB Chain.
Sell Ethereum for NairaSolana (SOL) — The Speed Chain
Solana is a high-performance blockchain known for its incredible speed (theoretically up to 65,000 transactions per second) and extremely low fees (typically under $0.01 per transaction). It uses a unique consensus mechanism called Proof of History combined with Proof of Stake.
Why it is popular in Nigeria: Solana has gained massive traction among younger Nigerian crypto users for several reasons: meme coin trading (the Solana ecosystem has become a hub for meme tokens), NFT trading with much lower fees than Ethereum, DeFi protocols with fast execution, and USDT transfers on Solana are fast and cheap. The low barrier to entry — you can start using Solana with very small amounts due to minimal fees — has made it particularly appealing in Nigeria where transaction costs matter.
Sell Solana for NairaBNB — The Binance Ecosystem Token
BNB (originally Binance Coin) is the native token of the BNB Chain ecosystem and the Binance exchange. It powers one of the largest smart contract platforms and is used for transaction fees on BNB Chain, trading fee discounts on Binance, staking, and governance.
Why it is popular in Nigeria: BNB's popularity in Nigeria is directly tied to Binance's dominance in the Nigerian market before regulatory challenges. Many Nigerians hold BNB from their Binance trading activity. BNB Chain (formerly BSC) also hosts many DeFi protocols with lower fees than Ethereum, making it popular for yield farming. USDT on BEP20 (BNB Chain) is also commonly used in Nigeria due to low transfer fees.
Sell BNB for NairaTRON (TRX) — The USDT Highway
TRON is a blockchain platform founded by Justin Sun. While TRON has its own ecosystem of DApps and smart contracts, its primary significance in the crypto world is as the network that carries the most USDT transactions globally. The TRC20 standard has become the preferred method for USDT transfers due to its speed and low cost.
Why it is popular in Nigeria: TRON's popularity in Nigeria is almost entirely driven by USDT-TRC20. When Nigerians talk about receiving USDT, they most often mean TRC20 USDT on the TRON network. The reasons are clear: TRC20 USDT transfers typically cost less than $1 in fees, confirm in under 3 seconds, and are supported by virtually every exchange and wallet. TRX itself is needed to pay gas fees on the TRON network, so many Nigerian USDT users also hold small amounts of TRX.
Sell TRON for NairaUSDC — The Regulated Stablecoin
USDC (USD Coin) is a stablecoin issued by Circle, a regulated US financial company. Like USDT, USDC maintains a 1:1 peg with the US dollar. The key difference is transparency: Circle publishes regular attestation reports from Grant Thornton verifying that USDC reserves fully back all tokens in circulation.
Why it is popular in Nigeria: USDC is preferred by Nigerians who prioritize transparency and regulatory compliance. Many international platforms and employers pay in USDC rather than USDT. It is also the stablecoin of choice for many DeFi protocols. While USDT has larger volume in Nigeria, USDC's share is growing, particularly among tech professionals and businesses that value its clearer regulatory standing.
Sell USDC for NairaDogecoin (DOGE) — The People's Crypto
Dogecoin started as a joke cryptocurrency in 2013, featuring the Shiba Inu dog meme as its mascot. Despite its humorous origins, Dogecoin has become one of the largest cryptocurrencies by market cap, bolstered by a passionate community and high-profile endorsements from figures like Elon Musk.
Why it is popular in Nigeria: Dogecoin appeals to Nigerian crypto users who are looking for speculative gains at low entry prices. A single DOGE costs a fraction of a Bitcoin, making it psychologically accessible. Social media trends around DOGE regularly drive trading activity among younger Nigerians. While it lacks the utility of coins like Ethereum or the stability of USDT, its volatility creates trading opportunities that Nigerian traders actively pursue.
Sell Dogecoin for NairaXRP — The Cross-Border Payment Coin
XRP is the cryptocurrency associated with Ripple Labs and its cross-border payment solutions. XRP was designed specifically for fast, cheap international money transfers — transactions settle in 3-5 seconds with fees typically under $0.01. Ripple's technology is used by financial institutions worldwide for cross-border settlements.
Why it is popular in Nigeria: XRP resonates with Nigerians because cross-border payments are a real, everyday need. Whether receiving remittances from the diaspora, paying international suppliers, or receiving freelancing income, the ability to transfer value quickly and cheaply across borders is valuable. XRP also has a large and loyal community in Nigeria that actively trades the token.
Sell XRP for NairaTON — The Telegram Blockchain
TON (The Open Network) is a blockchain originally designed by Telegram's team. After regulatory issues prevented Telegram from launching it officially, the community continued development and relaunched it independently. TON's deep integration with Telegram — which has over 900 million users globally — gives it a unique distribution advantage.
Why it is popular in Nigeria: Telegram is extremely popular in Nigeria, particularly within the crypto community. TON's integration with Telegram allows users to send and receive TON directly within Telegram chats, making it one of the most accessible cryptocurrencies. Mini-apps and games on Telegram that reward users with TON tokens have driven significant adoption among Nigerian users. As the TON ecosystem grows, its presence in Nigeria is expanding rapidly.
Sell TON for NairaHow to Sell Any of These Cryptocurrencies for Naira
Convert Any Crypto to Naira on Monica
All 10 of the cryptocurrencies listed above can be sold for Naira on Monica. The process is the same for every coin: send your crypto to your Monica address, and it is automatically converted to Naira and deposited to your bank account for free within 5-40 minutes. No P2P, no waiting for buyers, no frozen bank account risk. Check current rates on the crypto calculator.
The Nigerian crypto market in 2026 is diverse and growing. While Bitcoin and USDT dominate in terms of volume and recognition, each of the top 10 cryptocurrencies serves a distinct purpose in the Nigerian ecosystem. Whether you are storing value in Bitcoin, receiving payments in USDT, trading on Solana, or participating in the TON ecosystem through Telegram, Monica provides the easiest path from any cryptocurrency to Naira in your bank account.
Understanding what each cryptocurrency does and why it matters helps you make better decisions about which ones to hold, trade, and use. The Nigerian market's preferences will continue to evolve, but the fundamentals remain the same: utility, accessibility, and the ability to easily convert to Naira when needed.