Considering a Koyn alternative? Here is what Monica.cash offers Nigerian users.
Monica.cash charges 0% on conversion and 0% on bank withdrawal. Koyn sets pricing in its quoted rate at the time of trade. Run both numbers for your amounts.
Monica.cash payouts typically clear in under 60 seconds after on-chain confirmation. Koyn processes payouts after conversion.
500,000+ active Nigerian users with ₦500B+ processed. The track record is independently verifiable through public coverage in Nairametrics and other Nigerian financial press.
| Feature | Monica.cash | Koyn |
|---|---|---|
| Transaction Fee | 0% | Priced in quoted rate |
| Typical Payout Speed | Under 60 seconds | After conversion; varies |
| Supported Coins | 7 (BTC, ETH, SOL, TRX, BNB, USDT, USDC) | BTC, USDT, ETH |
| Bank Coverage | All NIBSS-connected banks (40+) | Nigerian banks |
"Sold SOL around 1am on a Sunday and the Opay alert came in under two minutes. No wahala."
"Verification took a few minutes and that was it. Smooth since USDC to Zenith Bank, done."
"App is clean and easy. My uncle who barely uses a smartphone figured it out in minutes."
"Tested with a tiny amount because I no dey trust crypto apps. It paid out before I finished doubting it."
Reasons vary by user; the common considerations are fees, payout speed and supported assets. Koyn sets pricing in its quoted rate at the time of trade, while Monica.cash charges 0% with payouts typically under 60 seconds after confirmation.
Free in the sense of 0% transaction fees, yes. The app itself is free to download and use. Network fees on the underlying blockchain still apply (those go to miners, not Monica).
Yes. Withdraw from Koyn to your Monica deposit address (same network on both ends), and the conversion runs automatically once the deposit confirms.
Monica is a one-way off-ramp and does not custody user crypto. Monica's treasury, KYC data handling and operating standards are NDPA-aligned and SEC VASP-framework aligned. Koyn publishes its own security practices — compare both before moving size.
Monica.cash supports 7 coins (BTC, ETH, SOL, TRX, BNB, USDT, USDC). Koyn covers BTC, USDT and ETH. Compare both lists for your specific assets.
0% fees. Under 60s payouts. 500K+ users can't all be wrong.
Download Monica