Cost breakdown for a $500 transfer: buying USDT abroad, 0% to 0.5% depending on the exchange ($0 to $2.50). Network fee, about $1 on TRC-20 (some exchanges charge a fixed ~$1 withdrawal fee instead). Receiving, converting, withdrawing in Nigeria, ₦0. Total: $1 to $3.50, or under 0.7%. The same transfer through a legacy remitter costs $25 to $40 once the exchange-rate markup is counted.
About $1 total on the TRC-20 network, regardless of amount. Monica charges 0% to receive, 0% to convert, 0% to withdraw. Compare: the Sub-Saharan average for traditional routes is 8.8% (World Bank, Q1 2025), $44 on a $500 transfer.
A verified Monica.cash account, your NIN plus a selfie, about 4 minutes, and any Nigerian bank account for the naira.
About $1 in network fees on TRC-20. Monica charges 0% to receive, convert, and withdraw.
Seconds to a few minutes for the network to confirm, then under 60 seconds from conversion to bank alert, 24/7, weekends included.
0% conversion fee on the Nigeria side. Live market rate. Every Nigerian bank.
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