The rule: match the network on both sides. If the sender withdraws on TRC-20, the receiver must share their TRC-20 address (Monica shows one address per network, clearly labelled). ERC-20 is fine when the sender's platform makes it cheap. Solana and BEP-20 are excellent low-fee alternatives. What matters is the match, not the choice — and for pure cost and speed, TRC-20 wins most days.
TRC-20. The network fee is about $1 (vs $2–$10+ gas on ERC-20) and confirmation takes seconds to 2 minutes. Monica accepts both — plus BEP-20 and Solana — but TRC-20 is the remittance default.
A verified Monica.cash account — BVN or NIN plus a selfie, about 4 minutes — and any Nigerian bank account for the naira.
About $1 in network fees on TRC-20. Monica charges 0% to receive, convert, and withdraw.
Seconds to a few minutes for on-chain confirmation, then under 60 seconds from conversion to bank alert — 24/7, weekends included.
0% fees on the Nigeria side. Live market rate. Every Nigerian bank.
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