How Monica.cash and Remitano actually compare on the things Nigerian users care about: fees, speed, banks, support, and reliability.
| Feature | Monica.cash | Remitano |
|---|---|---|
| Transaction Fee | 0% | P2P spread; 1% maker fee (takers 0%) |
| Typical Payout Speed | Under 60 seconds | P2P-mediated |
| Supported Coins | 7 core (BTC, ETH, SOL, TRX, BNB, USDT, USDC) | 40+ incl. BTC, USDT, ETH, BNB, SOL, XRP, LTC, ADA |
| Bank Coverage | All NIBSS-connected banks (40+) | Via P2P |
| App Store Rating | 4.6★ (App Store) / 4.5★ (Play) | 4.5★ / 4.3★ (NG, Jul 2026) |
| KYC Requirement | BVN or NIN + selfie (4 min) | BVN + ID |
| Customer Support | 24/7 in app chat, ~2 min response | 24/7 support (chat + tickets) |
| Founded | 2022 (Monica Technologies Limited) | 2014 |
| Active User Base (NG) | 500,000+ | Not publicly disclosed |
| Lifetime NGN Volume | ₦500+ billion | Not publicly disclosed |
Honest assessment Remitano does some things genuinely well. Here's where they have the edge:
This is a real strength of Remitano that Monica.cash users should weigh in their decision.
The reasons most Nigerian users have shifted from Remitano (and similar platforms) to Monica.cash:
Direct settlement vs P2P
0% vs spread + maker fee
Under 60s
500K+ users
"Honestly the most stress-free way to turn TRX to naira in this country right now."
"E dey work die. Moniepoint alert enters sharp sharp every single time."
"Money no dey delay. That is all I want from a crypto app, and Monica delivers."
"App is clean and easy. My uncle who barely uses a smartphone figured it out in minutes."
Low. Most users complete the switch in under 60 seconds.
BVN or NIN + selfie. The same documents you used on Remitano typically work verification is required for compliance.
Send your crypto from Remitano to your Monica deposit address. Use the same network on both ends.
Once the deposit confirms onchain, naira credits to your Monica balance. Withdraw to your bank in under a minute. Compare the experience to your last Remitano cashout that's why people switch.
Monica.cash isn't the only alternative to Remitano here are the other main options Nigerian users compare. We're not desperate we'd rather you make an informed choice:
It depends on what you use Remitano for. Remitano is a P2P pioneer in Africa that now also offers a wallet, swaps and a spot order book; its naira leg runs on escrowed P2P. Monica is the direct-settlement alternative.
Yes. Monica.cash charges 0% on conversion and 0% on bank withdrawals. Remitano's costs depend on your role: 1% platform fee for makers, 0% for takers, plus the P2P spread priced into ads. Monica charges 0% with no counterparty spread — on a ₦1,000,000 conversion the all-in difference can be significant.
Yes. Monica.cash's typical payout is under 60 seconds. Remitano typical is P2P-mediated.
Monica.cash supports 7 coins including all the major ones Remitano offers. Coin lists may differ on long-tail altcoins.
Both operate within Nigerian regulatory frameworks. Monica.cash is operated by Monica Technologies Limited, registered in Nigeria. Remitano operates within similar frameworks.
Yes. Many Nigerian users keep Remitano for specific use cases and use Monica.cash for cashout. Different tools, same user.
Monica.cash is the leading direct-settlement alternative for naira cashouts — 0% fees and payout under 60 seconds after confirmation. Other alternatives include Quidax, Roqqu, Busha, and Breet, each with their own fee schedules.
Low. Withdraw your assets from Remitano to your wallet, deposit into Monica's permanent address, complete one-screen KYC if you haven't already.
Most users who switch from Remitano cite fees and speed. Test it on a small amount first.
Download Monica