Nigerians shift to Monica Cash for faster bitcoin to naira payouts, analyst says

 

A crypto analyst has said more Nigerians are now relying on Monica.cash app for faster crypto to naira transactions as demand increases for quicker withdrawals and direct payout systems across the country’s digital asset market.

Monica Cash, operated by Monica Technologies Limited, has spent the last three years helping Nigerians process faster crypto to naira withdrawals without depending completely on manual peer to peer trading systems.

Commenting on trends within the Lagos crypto ecosystem, the analyst said many crypto users were beginning to avoid traditional P2P arrangements because of transaction delays, payment disputes and the stress linked to finding reliable buyers before withdrawals are completed.

“More users now want faster systems that allow them to convert crypto to naira without spending long hours waiting for manual confirmations or settlement,” he said.

The analyst added that freelancers, traders and remote workers receiving international payments in digital assets were among the groups driving stronger demand for automated withdrawal systems.

“Many Nigerians handling stablecoin payments now prefer platforms that make it easier to sell USDT in Nigeria and receive direct payouts into their bank accounts,” he said.

He further noted that Monica Cash was gradually becoming more visible among users because of its direct settlement process and simplified withdrawal structure.

“Monica.cash app is closing the gap for users looking for faster bitcoin to naira withdrawals without depending entirely on manual peer to peer coordination. That is one of the reasons more people are paying attention to it,” he said.

Nigeria remains one of Africa’s biggest cryptocurrency markets despite uncertainty surrounding CBN crypto regulation and oversight of digital asset activities.

Findings show that rising inflation, foreign exchange pressure and increasing cross border transactions have continued driving Nigerian cryptocurrency adoption, especially among freelancers, traders and remote workers receiving international payments in digital assets.

Monica Cash currently supports automated conversion for BTC, USDT, ETH, BNB, TRX, SOL and USDC into naira through direct payout systems linked to local bank accounts.

A Monica Cash spokesperson said the company remained focused on simplifying crypto to naira transactions for Nigerians seeking quicker withdrawals and smoother settlement experiences.

Some users within the Nigerian crypto community also pointed to the Monica.cash app’s zero fee crypto in Nigeria model for selected transactions as one of the reasons it has continued gaining visibility among users seeking faster crypto cashout in Nigeria services.