One verified Monica account gives you permanent deposit addresses per network. Share once; receive forever. The sender needs nothing on the Nigeria side — no recipient forms, no bank codes, no branch details. Money lands as USDT and waits for you.
USDT/NGN is the open-market dollar price — the rate discovered continuously by actual supply and demand, historically well ahead of what formal payout rates delivered (the official/parallel spread peaked above 60% in 2023 before converging in 2025). When remitter apps advertise their rate, compare it against the live USDT/NGN rate on Monica; the gap is your hidden fee. Converting on Monica applies the displayed live rate with zero platform margin.
For monthly family support, the pattern that works: the sender saves your address in their exchange's address book, sends on payday, and you convert what the household needs while keeping the rest in USDT. The app's rate display makes it easy to convert on strong-naira days.
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.
"I japa'd two years ago. Every app I tried had limits or delays. USDT plus Monica is the only route that has never failed me."
"I used to lose almost ₦40,000 in fees every month sending through Remitly. Switched to USDT and my mum gets the full amount in her UBA."
"The dollar I send is the dollar they receive. After years of watching Ria shave both ends, that still feels strange — in a good way."
"The rate is the real difference. MoneyGram pays out at their own rate; with USDT my family gets the open-market rate — that's an extra ₦15k on $500."
The live rate is shown in the Monica app and updates continuously with the market. Unlike a remitter's posted rate, it carries no built-in margin.
Conversion plus withdrawal completes in under 60 seconds once the deposit has confirmed on-chain. TRC-20 confirmation itself typically takes seconds to a couple of minutes.
0% conversion fee, 0% withdrawal fee. The only cost in the whole chain is the sender's ~$1 network fee.
Yes — the same address serves your sister in London, your son in Dallas and a client in Nairobi. Deposits are itemised in your history.
All NIBSS-connected Nigerian banks — GTBank, Zenith, Access, UBA, First Bank, Opay, Kuda, Moniepoint, Palmpay and 30+ more.
0% platform fees on the Nigeria side. Live market rate. Every Nigerian bank. Set the route up once — use it for years.
Download MonicaThe naira from your crypto doesn't have to leave Monica — spend it in the same app.