USDT savings in Nigeria has gone from niche to mainstream. The setup is simple buy USDT, hold it, watch the naira-equivalent value.
This guide covers the practical mechanics, the security setup, and the question of yield.
What's in this guide
1. Buy USDT on Monica
Fund naira balance, buy USDT at live rate, 0% fee.
2. Hold options
On Monica (custodial, instant access). On hardware wallet (self-custody, slower access). On a yield platform (interest, but counterparty risk).
3. Yield products
Some platforms (Busha, foreign DeFi) offer yield on USDT. Most Nigerian retail savers prefer no-yield self-custody for simplicity and risk control.
4. Liquidity planning
Keep some USDT immediately convertible (Monica). Park the rest in cold storage if amounts are large.
FAQ
Yield?
Available, but adds counterparty risk.
Custodial vs self-custody?
Custodial for active use; self-custody for large balances.