Why Nigerians Are Looking for Remitano Alternatives in 2026
Remitano is a peer-to-peer cryptocurrency marketplace that has been available to Nigerian users for several years. The platform connects crypto sellers with buyers using an escrow system to facilitate trades. While Remitano served a purpose in the early days of Nigerian crypto adoption, the P2P model has fundamental limitations that increasingly drive users to seek better alternatives in 2026.
The core issue with Remitano is that your ability to sell crypto and receive Naira depends entirely on other people. If no buyer is available, you wait. If the buyer is slow to pay, you wait. If there is a dispute, you wait even longer. In a world where automatic conversion platforms like Monica exist — delivering Naira in 5-40 minutes with zero counterparty involvement — this vendor dependence is an unnecessary frustration that costs time and money.
Beyond the fundamental P2P problem, Remitano also faces regulatory concerns in Nigeria. As an international platform without Nigerian SEC compliance, Remitano does not provide the regulatory protections that Nigerian users deserve when converting significant amounts of cryptocurrency. Monica's full SEC compliance provides a level of accountability and user protection that P2P platforms simply cannot match.
Counterparty Risk: The Fundamental P2P Problem
Every transaction on Remitano involves trusting a stranger to complete their end of the deal. You lock your crypto in escrow and hope the buyer sends Naira to your bank account. Most of the time this works, but when it does not, the consequences can be severe. Fake payment confirmations, payment reversals after crypto release, and unresponsive buyers are all risks that Remitano users face with every single trade.
Even when trades complete successfully, the P2P experience creates unnecessary stress. You are constantly monitoring the trade, checking for payment confirmation, and worrying about whether the buyer will follow through. For people who convert crypto regularly — freelancers, remote workers, traders — this stress compounds over time. Monica eliminates all of it by removing the human counterparty from the equation entirely. You send crypto, Monica converts it automatically, and Naira arrives in your bank.
Speed and Reliability: P2P vs Automatic
On Remitano, transaction speed is entirely unpredictable. During peak hours with many active buyers, trades might complete relatively quickly. During off-peak hours, weekends, or volatile market periods, you might wait hours for a buyer to accept your offer and complete payment. This unpredictability makes it impossible to plan your finances around Remitano — you never know exactly when your Naira will arrive.
Monica provides consistent 5-40 minute payouts regardless of time of day, market conditions, or transaction volume. Whether you send crypto at 2 AM on a Sunday or during peak market hours on a Monday, the payout timeline is the same. This consistency is a critical advantage for anyone who depends on timely crypto-to-Naira conversion for their livelihood or business operations.
The Fee and Rate Problem
Remitano's actual cost to sellers is often higher than it appears. The platform charges transaction fees, and P2P buyers typically offer rates below market value to build in their own profit margin. When you combine platform fees with the unfavorable buyer rates, the effective cost of selling crypto on Remitano can be substantial — often 2-5% or more of the transaction value, especially during low-liquidity periods when buyers can demand larger discounts.
Monica eliminates this entirely with a transparent fee structure: flat $2 for Bitcoin and Ethereum, free deposits for USDT and USDC, and free bank withdrawals. There are no hidden costs, no buyer markups, and no variable rates based on P2P supply and demand. You know exactly what you will pay before you send a single satoshi.