Crypto Business Payment Nigeria Settle Vendors and Suppliers in Naira
For business owner with crypto inflows, naira outflows the cleanest crypto to naira route in Nigeria.
The Problem
International revenue arrives in crypto. Local suppliers and salaries are in naira. Need reliable, large-volume conversion.
The Context
Common pattern for Nigerian SaaS, agencies, manufacturers with foreign B2B clients.
How Monica Solves This
Verified business account on Monica unlocks higher daily limits suitable for SME volumes.
Step by Step for Business owner with crypto inflows, naira outflows
Set up Monica01
Download from Google Play or App Store. Complete one screen of KYC (NIN plus a selfie).
Get your deposit address02
Choose USDT (most common for this use case). Copy the permanent address and save it.
Receive crypto03
Share your Monica address with the sender (client, employer, sponsor, family). Crypto deposits typically confirm in 30s to 3 minutes.
Withdraw naira04
Once confirmed, naira credits to your Monica balance at live rate. Withdraw to your bank Opay, Kuda, GTBank, Zenith, all banks supported.
FAQ Business owner with crypto inflows, naira outflows
How does Monica work for business owner with crypto inflows, naira outflows?
Verified business account on Monica unlocks higher daily limits suitable for SME volumes. The same flow that works for any Monica user deposit crypto to a permanent address, naira credits at the live rate, withdraw to your Nigerian bank in seconds.
What coins does Monica support for this use case?
USDT, USDC. All major networks supported. The most common choice for this persona is USDT.
What are the typical amounts for business owner with crypto inflows, naira outflows?
₦5M, ₦100M+ monthly. Monica handles all of these verified accounts have ₦50M/24h default limits with higher available on request.
How fast does the naira reach my bank?
Sub-60 seconds typical. Digital banks (Opay, Kuda, Moniepoint) clear in 5 to 10 seconds; tier 1 commercial banks (GTBank, Zenith, Access) clear in 30 to 60 seconds via NIBSS.
Are there fees specific to this use case?
No. 0% conversion fee apply universally on Monica. Only onchain network fees (paid to validators/miners) apply, and those exist on any platform.
Can I use Monica internationally?
Monica is Nigerian-focused the conversion is to naira, the bank withdrawal is to Nigerian banks. The crypto deposit can come from anywhere globally.
Is this use case legal in Nigeria?
Yes. Following the CBN's December 2023 reversal of the 2021 banking restriction, crypto to naira conversion is legal across Nigeria.
What if I have questions specific to business owner with crypto inflows, naira outflows?
In the app live support is 24/7 with average two-minute response. Common questions for this use case are well-handled.
Can a business in Nigeria accept crypto from customers and keep naira?
Yes. A business can receive BTC, ETH, USDT, USDC, SOL, BNB or TRX at its Monica address and have the naira paid to its Nigerian bank account within 60 seconds of the network confirming. Monica converts the crypto you receive; it never sells crypto to you.
Which coins can a merchant settle to naira with Monica?
Monica settles seven coins to naira: BTC, ETH, USDT, USDC, SOL, BNB and TRX. Many merchants invoice in USDT or USDC because the value stays close to the dollar between the customer paying and the naira landing in the bank.
What does it cost to settle crypto payments to naira?
Monica charges a 0% conversion fee and a 0% bank withdrawal fee. Deposits of USDT, USDC, ETH, SOL, BNB and TRX are free; Bitcoin deposits carry a flat $2 fee. The customer pays the blockchain network fee when the crypto is sent.
How long does settlement to a Nigerian bank account take?
Naira reaches your business bank account within 60 seconds of the network confirming the deposit. Confirmation time depends on the coin and network the customer used, so the total wait is the network confirmation plus that payout window.
Does Monica collect payment from my customers or only convert what I receive?
Monica only converts what arrives at your Monica address. It is not a checkout or invoicing tool; you share your address with the customer, they send the crypto, and Monica pays the naira to any Nigerian bank. The minimum deposit is $5 worth of crypto.
Get started with Monica
0% conversion fee, within 60s of confirmation payouts, all Nigerian banks. Built for the situations Nigerians actually face.