Download Monica, verify, open the USDT wallet. The app shows one address per network — TRC-20, ERC-20, BEP-20, Solana. The address is permanent: save it, print it, send it to your sister in Toronto and your client in Dubai. Every deposit to it, forever, lands in your balance.
A push notification tells you the moment a deposit confirms on-chain. From there you choose: convert immediately at the live rate, or hold USDT in-app as dollar savings against naira moves — many receivers hold and convert only what they need each week. Conversion and bank withdrawal together take under 60 seconds.
Family remittances (the classic case), freelance clients paying invoices, foreign employers running crypto payroll, forex brokers processing withdrawals — the receiving flow is identical for all of them. One address, any sender, any country.
The old way to receive dollars — a domiciliary account — means branch visits, reference letters, minimum balances, and withdrawal queues under CBN cash rules. The USDT route requires none of it: dollars arrive on-chain and become naira in your regular GTBank, Opay, or Kuda account.
Fees shown are typical all-in costs including exchange-rate markup — the honest number, not the advertised one.
| Route | Fees on $500 | Typical timing | What the receiver actually gets |
|---|---|---|---|
| USDT → Monica.cash | 0% platform fee — only the network fee (~$1 on TRC-20) | Seconds to a few minutes on-chain, then under 60 seconds to the bank | ≈ ₦810,000 at the live market rate, full amount, any Nigerian bank |
| Western Union | 5%–8% + exchange-rate markup | Minutes to days | Agent or bank payout at a marked-down rate |
| MoneyGram | 4%–7% + rate markup | Minutes to days | Cash pickup limits apply ($200 per IMTO payout rules) |
| Bank wire (SWIFT) | $25–$50 flat + correspondent fees | 2–5 business days | Lands in a domiciliary account at the official rate |
| Fintech remitters (Remitly, WorldRemit, etc.) | 1%–4% + rate spread | Minutes to 2 days | Rate is set by the app, usually below the open market |
Your family member (or you, on the Nigeria side) downloads Monica from Google Play or the App Store and completes KYC — BVN or NIN plus a selfie, about 4 minutes.
Inside the app, choose USDT and pick a network — TRC-20 is the popular choice for remittance because the network fee is about $1 and confirmation takes seconds to a couple of minutes.
From any exchange or wallet abroad — Coinbase, Kraken, Binance, Bybit, or a self-custody wallet — send USDT to the Monica address. The blockchain doesn't care about borders, weekends, or banking hours.
Once the deposit confirms on-chain, naira credits the Monica balance at the live rate. Bank withdrawal completes in under 60 seconds — Opay, Kuda, GTBank, Zenith, all Nigerian banks.
"Rent for my family house in Surulere goes through this route now. Landlord gets a bank transfer, I pay no remittance fee at all."
"Sent my mum's hospital bill money from the US at 2am. She paid the hospital before 7am. Nothing else I know can do that."
"School fees deadline was the next morning. USDT from Italy to naira in my account the same night. That saved my semester."
"No more asking my cousin to queue for cash pickup. I send USDT, she taps withdraw, and the money is in her Kuda in minutes."
Download Monica, verify with BVN or NIN plus a selfie (about 4 minutes), open the USDT wallet, and copy your permanent address. One per network — share the one matching what the sender will use.
The live USDT/NGN market rate shown in the app at the moment you convert. No markup, no spread, 0% platform fee.
Under 60 seconds after you tap withdraw. Digital banks (Opay, Kuda, Moniepoint) typically clear in 5–10 seconds; tier-1 commercial banks clear via NIBSS in 30–60 seconds.
No. USDT sits in your Monica balance as dollars until you choose to convert. Plenty of receivers treat it as dollar savings and convert weekly or as needed.
No. Receiving is free, converting is 0%, and bank withdrawal is 0%. The sender pays only the ~$1 network fee.
Yes. Following the CBN's December 2023 reversal of the 2021 banking restriction and the SEC's Virtual Asset Service Provider (VASP) framework — with provisional licences issued to Nigerian exchanges from August 2024 — receiving and converting stablecoins is legal in Nigeria.
Verified accounts handle ₦50,000,000 per 24 hours by default; business verification unlocks more. For a typical $200–$5,000 remittance you'll never notice a limit.
0% platform fees on the Nigeria side. Live market rate. Every Nigerian bank. Set the route up once — use it for years.
Download Monica