No peer to peer vendors. No waiting for approval. No negotiating rates. Monica automatically converts your Bitcoin, USDT, Ethereum, and other cryptocurrencies to Naira the moment they hit your wallet. True instant settlement that actually works.
Bitcoin, USDT, USDC, ETH, SOL, TRX, or BNB
USDT TRC20: 1-2 min | Bitcoin: 15-40 min
No approval needed, happens automatically
Free bank transfer or pay bills immediately
We tested actual settlement times on every major Nigerian crypto platform. Here's what we found when converting ₦100,000 worth of USDT to Naira and withdrawing to a Nigerian bank account:
| Platform | Method | Average Time | Fastest Time | Slowest Time |
|---|---|---|---|---|
| Monica | Automatic | 5 minutes | 2 minutes | 8 minutes |
| Quidax | Exchange | 18 minutes | 12 minutes | 35 minutes |
| Luno | Exchange | 32 minutes | 18 minutes | 65 minutes |
| Binance P2P | Vendor | 45 minutes | 15 minutes | 3+ hours |
| Patricia | Mixed | 28 minutes | 10 minutes | 2+ hours |
Test conducted: October 2024 with USDT TRC20, ₦100,000 equivalent, withdrawn to GTBank. Times measured from deposit confirmation to Naira in bank account. P2P times vary significantly based on vendor availability.
Traditional exchanges and P2P platforms require a human to approve your withdrawal. Even with automated systems, there's a queue. Monica eliminates this entirely. The moment blockchain confirms your crypto deposit, our system automatically calculates the Naira equivalent at current exchange rate and credits your balance. No queue, no approval, no delay.
When you withdraw Naira from your Monica balance to your Nigerian bank account, it happens through direct API integration with Nigerian banks. We're connected to all major banks: GTBank, Access Bank, First Bank, Zenith, UBA, Kuda, and more. This means your money moves instantly without going through intermediary payment processors that add delays.
Monica maintains substantial Naira reserves specifically for instant payouts. When you convert crypto, your Naira balance is backed by real money already in our reserve accounts. Other platforms have to move money between accounts or wait for their own banking processes, creating delays. Monica's reserve system guarantees instant availability.
P2P platforms are slow because humans have to agree on rates. You post your crypto, vendors see different rates, you counter-offer, they think about it, time passes. Monica uses algorithmic pricing that pulls real-time rates from CoinGecko API updated every 60 seconds. The rate you see is the rate you get, instantly, no back-and-forth.
USDT on TRC20 network is the fastest cryptocurrency to convert on Monica. Blockchain confirmation takes 1-2 minutes, then automatic Naira conversion is instant. Total time from sending USDT to having Naira in your Monica balance: under 3 minutes on average. This is why Nigerian freelancers prefer getting paid in USDT—it converts to spendable money almost immediately.
USDT on other networks also works but is slightly slower. ERC20 (Ethereum network) takes about 5-8 minutes. BEP20 (Binance Smart Chain) takes 3-5 minutes. Monica supports all USDT networks with zero deposit fees, so you can use whichever network the sender prefers.
Bitcoin is slower because the blockchain itself requires more confirmations for security. Bitcoin transactions typically need 1-3 confirmations depending on amount, which takes 15-40 minutes on average. However, once your Bitcoin transaction confirms on the blockchain, Monica's automatic conversion to Naira is still instant. The delay is purely blockchain confirmation time, not Monica processing.
Despite being slower than USDT, Bitcoin on Monica is still faster than Bitcoin on P2P platforms where you add vendor approval time on top of blockchain confirmation time. With Monica's $2 flat fee, Bitcoin is also the most economical for large amounts. A ₦10 million Bitcoin deposit costs only $2 (₦3,160), while percentage-based platforms charge ₦50,000-100,000 in fees.
Ethereum, USDC, Solana, BNB, and Tron all settle within 5-15 minutes total on Monica. Ethereum requires a few confirmations (about 5-10 minutes), Solana is very fast (under 1 minute for blockchain), BNB on BEP20 takes 3-5 minutes, and Tron is similar to USDT TRC20 at 1-2 minutes. All have instant automatic Naira conversion once blockchain confirms.
Nigerian freelancers on Upwork, Fiverr, and Toptal often receive payment in cryptocurrency. With traditional exchanges, you might wait hours for vendor approval, then wait more for bank withdrawal. Monica's instant conversion means you can receive crypto payment in the morning and use that money to pay your rent by afternoon. No waiting, no stress about rates changing while you wait for approval.
Example: A developer receives 200 USDT for a completed project at 10am. Sends it to Monica address. By 10:05am, he has ₦316,000 in his Monica balance (at ₦1,580 per dollar). By 10:10am, he's withdrawn ₦200,000 to his GTBank account to pay rent, and used ₦50,000 from his Monica balance to pay electricity and buy airtime with 3% discount. All before lunch.
Crypto traders know that every minute counts when markets are volatile. If Bitcoin pumps and you want to lock in Naira profits, waiting 30-60 minutes for vendor approval means the rate might drop before you can sell. Monica's instant conversion lets you lock in the exact rate when you decide to sell. Send Bitcoin to your Monica address when it hits your target price, and the Naira equivalent is locked in automatically within minutes.
Nigerians receiving money from family abroad through crypto save huge amounts versus Western Union (which charges 6-8% fees and takes days). With Monica's instant settlement, your relative in the US can send you USDT and you can have Naira in your bank account 10 minutes later. No 3-day Western Union wait, no expensive bank wire fees, no foreign exchange bureau markups.
Nigerian businesses accepting crypto payment from international clients used to worry about settlement delays affecting cash flow. Monica's instant conversion means a business can receive crypto payment for goods or services and have Naira available to pay suppliers or employees the same day. This makes crypto payment actually practical for Nigerian business operations, not just speculation.
Monica's system constantly monitors the blockchain for incoming transactions to your deposit addresses. When a new transaction appears, the system immediately validates it, checks the amount, and begins the settlement process. No human involvement means no delays from employees being busy, away, or offline.
For supported networks like Ethereum, BNB, and Tron, Monica uses smart contract monitoring to detect deposits even faster. The moment the smart contract registers your transaction, Monica's system knows about it and can begin preparing the Naira conversion before full blockchain confirmation completes.
Monica pulls cryptocurrency prices from CoinGecko API which aggregates prices from hundreds of global exchanges. This data updates every 60 seconds, ensuring the rate you get is always current market rate. The Nigerian Naira exchange rate is updated multiple times daily based on parallel market rates, giving you fair conversion value.
Your Monica app balance updates in real-time through websocket connections. You don't need to refresh or wait for email notifications. The second your crypto converts to Naira, your app balance updates and you get a push notification. You can immediately withdraw that balance to your bank or use it to pay bills.
Yes. Monica uses global market rates from CoinGecko API, the same source that CoinMarketCap and major exchanges use. There's no hidden markup in the conversion rate. The only fees are transparent: $2 flat for Bitcoin, zero for USDT and other deposits, zero for bank withdrawals. What you calculate on our crypto to Naira calculator is what you actually receive.
You get the rate at the moment Monica receives your confirmed transaction, not when you initiated it. For USDT which confirms in 1-2 minutes, rate changes are minimal. For Bitcoin which takes 15-40 minutes, rates can change, but this is true on every platform. The difference is Monica still settles instantly once confirmed, while other platforms add additional delays on top of blockchain time.
No limits on Monica. Whether you send ₦10,000 or ₦10,000,000 worth of crypto, the automatic settlement works the same way and takes the same time. Large amounts don't require special approval or additional verification. The instant settlement system handles all transaction sizes automatically.
Monica maintains 99.8%+ uptime. In the rare event of system maintenance, deposits are queued and processed automatically when the system comes back online. Your crypto is safe in your Monica wallet address—it's a real blockchain address, not custodial. Once our system is back, all pending conversions process in order with the rate at time of processing.
No, conversions are automatic and instant, so they cannot be reversed. This is by design to enable the speed. Make sure you want to convert before sending crypto to your Monica address. If you want to hold crypto without converting, use a regular crypto wallet like Trust Wallet or Metamask, not Monica which is specifically built for instant conversion to Naira.
Instant settlement doesn't mean weak security. Monica uses multiple layers of fraud detection that work in real-time without slowing down legitimate transactions. Machine learning algorithms analyze transaction patterns instantly, flagging suspicious activity for additional verification while normal transactions proceed at full speed.
Monica waits for sufficient blockchain confirmations before converting your crypto to Naira. For USDT this is typically 1 confirmation, for Bitcoin it's 1-3 confirmations depending on amount. This prevents double-spend attacks while still maintaining fast settlement. You can't spend crypto twice, and Monica won't credit your Naira balance until the blockchain definitively confirms your transaction.
Monica operates in full compliance with Nigerian Securities and Exchange Commission regulations. This means proper know-your-customer procedures, transaction monitoring, and reporting requirements that protect both users and the platform. Compliance doesn't slow down individual transactions—it happens in the background through automated systems.
Download Monica, sign up with your email, verify your email address, and you're ready to start. Send your first deposit of Bitcoin, USDT, or any supported crypto and experience true instant settlement. Within 5 minutes, you'll have Naira in your Monica balance ready to withdraw to any Nigerian bank or spend on bills, airtime, virtual cards, and more.
No peer to peer vendors, no waiting for approval, no rate negotiations. Just send crypto and get Naira automatically. This is how crypto to Naira conversion should work. Try it once and you'll understand why 450,000+ Nigerians have switched to Monica.
Zero human approval needed. Smart contracts and blockchain monitoring handle everything automatically.
Monica maintains Naira reserves for immediate payout. Your money is ready the moment your crypto confirms.
Connected directly to all Nigerian banks. No intermediaries means no delays in withdrawals.
CoinGecko API updates every 60 seconds. You always get current market rates, no stale pricing.
SEC compliance and fraud detection work in real-time without slowing legitimate transactions.
Websocket connections update your balance immediately. Know the exact moment your crypto converts.
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