Sell Crypto for Naira in Nigeria
Zero fees. Naira paid to your Nigerian bank account in 5–15 minutes. Accepts USDT, BTC, ETH, LTC, DOGE, and BCH.
Crypto to Naira Calculator
How to Sell Crypto for Naira — Step by Step
Selling crypto for naira takes four steps. The whole process — from registration to naira in your bank account — typically takes under 20 minutes for first-time users and under 10 minutes for returning ones.
Create a free account
Register with your email address and phone number. No upfront fee. Basic identity verification is required to unlock NGN withdrawal — you will need a government-issued ID (NIN, voter's card, international passport, or driver's licence) and a selfie. Verification is processed instantly in most cases.
Add your Nigerian bank account
Go to the withdrawal settings and add your bank account number. The platform will look up your bank name automatically via BVN lookup. Supported banks include GTBank, Access Bank, Zenith Bank, UBA, First Bank, Stanbic IBTC, Fidelity Bank, FCMB, Wema Bank, and all other major Nigerian commercial banks.
Send your crypto to the platform deposit address
Navigate to the deposit section, select your coin, and copy the wallet address. Send from any external wallet — Trust Wallet, MetaMask, Coinbase Wallet, Binance, or any other exchange. Always double-check the address before confirming. For USDT, select the TRC-20 (Tron) network for the fastest confirmation and lowest network fee (under $1).
Sell and receive naira
Once the deposit is credited, go to the sell screen, enter your amount, and confirm the quoted NGN rate. Submit the withdrawal to your saved bank account. Naira arrives in 5–15 minutes. You will receive an SMS and email confirmation when the transfer is sent.
Platform Comparison (2026)
Five platforms currently offer NGN withdrawals to Nigerian bank accounts. The key differences are fee structure, payout speed, supported coins, and KYC requirements. The comparison below is based on hands-on testing conducted in May 2026.
| # | Platform | Accepted coins | Fee | NGN payout | Min. amount | KYC | Rating |
|---|---|---|---|---|---|---|---|
| 1 | Platov.co | USDT, BTC, ETH, LTC, DOGE, BCH | 0% | 5–15 min | $10 | Basic ID | 4.9 |
| 2 | Monica Exchange | USDT, BTC, ETH | 1–2% | 15–30 min | $20 | Full KYC | 4.3 |
| 3 | Binance P2P | USDT, BTC, ETH, BNB | 0% (spread varies) | 10–60 min | $15 | Full KYC | 4.1 |
| 4 | Luno | BTC, ETH, XRP, USDC | 0.1–1% | 1–24 h | $50 | Full KYC | 3.8 |
| 5 | Quidax | BTC, ETH, USDT, XRP | 0.5–1.5% | 30 min–2 h | $10 | Full KYC | 3.7 |
Ratings based on payout speed tests, fee analysis, and user reviews. Last updated May 2026.
Supported Cryptocurrencies — Which Pays Best?
All six supported coins can be sold for naira, but the experience differs by settlement time, network cost, and price stability during the transfer window. USDT is the first choice for most Nigerian sellers.
USDT (Tether)
Stable price — no loss between sending and receiving. Best on TRC-20 (Tron): confirms in 1–3 minutes, network fee under $1. Highest liquidity on Nigerian platforms.
RecommendedBitcoin (BTC)
Widely accepted globally. Confirmation takes 10–30 minutes, introducing price risk. Network fees vary ($1–$30). Good for large amounts where speed is secondary.
Ethereum (ETH)
Confirms in 5–15 minutes. ERC-20 fees range from $2–$20 depending on network load. Consider USDT on TRC-20 as a cheaper alternative if you hold ETH for conversion only.
LTC · DOGE · BCH
Fast confirmation and low fees. Fewer platforms support them in Nigeria, so check availability before sending. Liquidity and sell limits may be lower than BTC/ETH/USDT.
Network selection for USDT
USDT exists on multiple blockchains. Choosing the wrong network is one of the most common mistakes — it can result in lost funds. Only use a network that the platform explicitly supports.
| Network | Confirmation | Typical fee | Availability |
|---|---|---|---|
| TRC-20 (Tron) | 1–3 min | < $1 | Most platforms |
| ERC-20 (Ethereum) | 5–15 min | $2–$20 | Most platforms |
| BEP-20 (BSC) | 3–5 min | < $0.50 | Some platforms |
| Solana (SPL) | 1–2 min | < $0.01 | Few platforms |
Understanding Fees and Exchange Rates
Platforms earn money in two ways: an explicit trading fee and an implicit spread. Even a "0% fee" platform may embed a margin into the rate it offers you. The only way to check is to compare the quoted NGN rate against the live mid-market rate shown in the calculator above.
- Trading fee — a percentage deducted from the transaction. 0–2% is typical on Nigerian platforms.
- Spread — the gap between the real market rate and what you're offered. A 2% spread on ₦1,600/USDT means you get ₦1,568 instead of ₦1,600 — a loss of ₦3,200 on 100 USDT.
- Withdrawal fee — some platforms charge ₦50–₦200 per bank transfer. Check this before selling small amounts.
- Network (blockchain) fee — paid to the blockchain when you send coins to the platform. This is outside the platform's control. TRC-20 is the cheapest for USDT.
Fee comparison: selling 500 USDT at ₦1,620/USDT
0% fee platform: 500 × ₦1,620 = ₦810,000
1% fee platform: 500 × ₦1,620 − 1% = ₦801,900 (₦8,100 lost)
2% fee platform: 500 × ₦1,620 − 2% = ₦793,800 (₦16,200 lost)
On 5,000 USDT, a 2% fee costs ₦162,000. Always check the all-in rate before confirming.
Nigerian Banks Supported for NGN Payout
Naira is paid directly to your bank account via NIBSS Instant Payment (NIP). The transfer arrives within 5–15 minutes and shows as a credit from the platform's payment partner.
Both traditional banks and fintech accounts (Opay, Kuda, Moniepoint, Palmpay) are supported. If your bank is not listed, contact support before initiating a transfer.
How to Sell Safely — Avoiding Scams
Crypto-related fraud is common in Nigeria. The following mistakes cost traders money every week.
Using informal peer-to-peer trades
Trades arranged via WhatsApp or Telegram groups have no escrow protection. A buyer can reverse a bank transfer after receiving your crypto. Use only platforms with built-in escrow.
Not verifying the website URL
Scam sites clone the look of real exchanges with near-identical URLs (e.g. using Unicode characters). Bookmark the real site and access it only from your bookmarks — never from a link in a message.
Sharing seed phrases or passwords
No legitimate platform support agent will ever ask for your seed phrase, private key, or account password. Anyone asking is a scammer. Disconnect immediately.
Sending to the wrong network or address
Sending USDT on ERC-20 to a TRC-20 address (or vice versa) results in permanent loss of funds. Always confirm the network before sending. Copy-paste the address — never type it manually.
Best practice: enable 2FA before depositing
Set up two-factor authentication (Google Authenticator or SMS) on your account before sending any funds. A compromised account without 2FA can result in a total loss.
Limits and Regulatory Status (2026)
Crypto-to-fiat services in Nigeria operate under the SEC Nigeria Virtual Asset Service Provider (VASP) framework introduced in 2022. CBN restrictions on crypto-linked accounts were relaxed in late 2023, and licensed exchanges may now offer NGN banking services directly.
- Daily sell limit: Varies by platform and KYC tier. Basic verification typically allows up to $2,000/day. Full KYC removes most limits.
- Transaction reporting: Platforms are required to report transactions above ₦5,000,000 to the NFIU. This is automatic and does not affect your payout.
- Capital Gains Tax: Profits from crypto-to-naira conversions may be subject to CGT at 10% above your acquisition cost. Keep records of each transaction (date, coin, NGN value received). Consult a Nigerian tax professional for advice on your specific situation.
- No restriction on frequency: There is no legal limit on how often you can sell crypto for naira, as long as you use a registered VASP.
Frequently Asked Questions
Which coins can I sell for naira?
USDT (Tether), Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), and Bitcoin Cash (BCH). USDT is recommended for most sellers due to its price stability and fast TRC-20 settlement.
How fast is the naira payout to my bank account?
5–15 minutes after blockchain confirmation in most cases. USDT on TRC-20 confirms in 1–3 minutes, making the total time from send to naira-in-bank around 6–18 minutes. BTC takes longer due to 10–30 minute confirmation times.
What is the minimum amount I can sell?
The minimum is approximately $10 worth of any supported coin. There is no maximum limit for users with full KYC verification.
Which banks receive the naira payout?
All major Nigerian commercial banks and most fintech accounts: GTBank, Access Bank, Zenith Bank, UBA, First Bank, Stanbic IBTC, Fidelity Bank, FCMB, Wema Bank, Sterling Bank, Union Bank, Ecobank, Opay, Kuda Bank, Moniepoint, and Palmpay.
Do I need BVN to sell crypto?
Yes — BVN or NIN is required to unlock NGN bank withdrawals. This is a CBN requirement for any naira-linked financial service. The verification is done once and stored securely.
Which network should I use to send USDT?
TRC-20 (Tron network) — it is the fastest (1–3 min) and cheapest (under $1 fee). ERC-20 (Ethereum) is also widely supported but costs more. Always confirm which networks are accepted before sending. Sending on an unsupported network may result in loss of funds.
Is there a fee to sell crypto?
No — the selling fee is 0%. You pay only the blockchain network fee when sending crypto from your external wallet. There is no fee deducted from your naira payout and no hidden spread on the quoted rate.
Can I sell crypto at any time — including weekends?
Yes. The platform operates 24 hours a day, 7 days a week including public holidays. Nigerian bank transfers may occasionally be delayed on weekends during inter-bank settlement windows, but payouts still arrive the same day.
What if the naira payout does not arrive?
Check your transaction status in the platform dashboard first. If the status shows "sent" but your bank has not received the funds after 30 minutes, contact support with your transaction ID. Most undelivered payments are resolved within 2 hours.
Can I sell crypto if I am not in Nigeria?
Yes, as long as your bank account is a Nigerian account. The platform accepts users from the Nigerian diaspora who hold Nigerian bank accounts and have completed Nigerian-linked KYC verification.
Is selling crypto legal in Nigeria?
Yes. SEC Nigeria issued a Virtual Asset Service Provider framework in 2022. Licensed exchanges operate legally and are permitted to offer naira conversion services. CBN restrictions from 2021 have been substantially relaxed.
What happens if I send to the wrong address?
Blockchain transactions are irreversible. If you send to the wrong address, the funds cannot be recovered by the platform or anyone else. Always copy-paste the deposit address from the platform — never type it manually. Send a small test amount first if you are unsure.
Ready to Sell?
Check the live rate in the calculator above, then complete your sell order. Zero fees — naira paid directly to your bank account in minutes.
Sell Crypto for Naira Now