Overview

Monei’s offramp service allows you to convert cryptocurrency (USDT, USDC, CNGN) to fiat currency (NGN) and receive payouts directly to your bank account. What you’ll learn:

How offramp works
Supported assets and networks
Supported fiat currencies
Conversion process
Fees and limits
Transaction lifecycle

What is Offramp?

Offramp is the process of converting cryptocurrency to traditional fiat currency. With Monei, you can:

Convert Crypto

Convert USDT, USDC, or CNGN to fiat

Receive Fiat

Get money directly in your bank account

Multiple Networks

Support for 9+ blockchain networks

Fast Settlement

Receive fiat within minutes to hours

How It Works

Get Exchange Quote

Check the current crypto-to-fiat exchange rate

Verify Bank Account

Confirm recipient bank details

Initiate Swap

Create the offramp order with your details

Send Crypto

Deposit crypto to the provided address

Processing

Monei converts crypto to fiat

Receive Fiat

Fiat currency sent to your bank account

Supported Assets

Stablecoins

USDT
USDC
CNGN

Tether USD

Network	Status
Polygon	✓ Supported
Arbitrum One	✓ Supported
BNB Smart Chain	✓ Supported
Ethereum	✓ Supported
Tron	✓ Supported
Lisk	✓ Supported
Celo	✓ Supported

Most Popular: BNB Smart Chain, Polygon (lowest fees)

Network	Status
Base	✓ Supported
Polygon	✓ Supported
Arbitrum One	✓ Supported
BNB Smart Chain	✓ Supported
Ethereum	✓ Supported
Celo	✓ Supported

Network	Status
Base	✓ Supported
Polygon	✓ Supported
BNB Smart Chain	✓ Supported
Ethereum	✓ Supported

Supported Fiat Currencies

NGN

Nigerian Naira (Primary)

Default Currency: NGN (Nigerian Naira)

Supported Networks

Network	Chain	Gas Cost	Speed	Best For
Base	EVM	Low	Fast	Recommended
Polygon	EVM	Very Low	Fast	Low fees
Arbitrum One	EVM	Low	Fast	Layer 2
BNB Smart Chain	EVM	Low	Fast	BSC users
Ethereum	EVM	High	Medium	Large amounts
Optimism	EVM	Low	Fast	Layer 2
Lisk	EVM	Low	Fast	Alternative L2
Scroll	EVM	Low	Fast	Alternative L2
Starknet	Custom	Low	Fast	USDC only

We recommend using Base or Polygon for the lowest fees and fastest processing.

Exchange Rates

Get real-time exchange rates before converting.

import MoneiSDK from 'monei-sdk';

const monei = new MoneiSDK({
  apiKey: process.env.MONEI_API_KEY,
});

// Get exchange rate for USDT to NGN
const quote = await monei.offramp.getQuote({
  token: 'USDT',
  network: 'base',
  amount: 100,
  fiat: 'NGN'
});

console.log('Amount:', quote.amount, 'USDT');
console.log('Network:', quote.network);
console.log('Exchange Rate:', quote.rate, 'NGN per USDT');
console.log('Fiat Amount:', quote.fiatAmount, 'NGN');

from monei import MoneiClient

monei = MoneiClient(
    api_key=os.getenv('MONEI_API_KEY')
)

# Get quote
quote = monei.offramp.get_quote(
    token='USDT',
    network='base',
    amount=100,
    fiat='NGN'
)

print(f'Amount: {quote.amount} USDT')
print(f'Network: {quote.network}')
print(f'Rate: {quote.rate} NGN per USDT')
print(f'Fiat Amount: {quote.fiat_amount} NGN')

curl "https://api.monei.cc/api/v1/offramp/exchange/quote?token=USDT&network=base&amount=100&fiat=NGN" \
  -H "x-api-key: YOUR_API_KEY"

Response:

{
  "token": "USDT",
  "amount": 100,
  "network": "base",
  "fiat": "NGN",
  "rate": 1550.25
}

Transaction Lifecycle

Understanding offramp transaction states:

State	Description	Action Required
`initiated`	Order created	None
`quote_created`	Exchange rate locked	Send crypto
`awaiting_deposit`	Waiting for crypto	Send to deposit address
`deposit_received`	Crypto received	None
`pending`	Converting crypto	None
`processing`	Converting to fiat	None
`fiat_sent`	Fiat transferred to bank	None
`completed`	Transaction complete	None
`failed`	Transaction failed	Contact support
`cancelled`	Cancelled by user	None
`refunded`	Crypto refunded	None

Fees

Network Fees
Exchange Fees
Bank Fees

Blockchain Gas Fees:

Network	Typical Cost
Polygon	$0.01 -$ 0.05
Base	$0.02 -$ 0.10
Arbitrum	$0.10 -$ 0.50
BSC	$0.05 -$ 0.20
Optimism	$0.05 -$ 0.30
Ethereum	$2.00 -$ 10.00

Note: Gas fees are paid by you when sending crypto

Limits

Transaction Limits

Tier	Single Transaction	Daily Limit	Monthly Limit
Tier 2	$500	$1,000	$5,000
Tier 3	$2,000	$5,000	$20,000
Tier 4	$10,000	$50,000	$200,000

Limits are based on your KYC verification tier. Upgrade your tier →

Minimum & Maximum

Asset	Minimum	Maximum
USDT	$10	$10,000
USDC	$10	$10,000
CNGN	₦10,000	₦10,000,000

Processing Time

Expected time from crypto deposit to bank credit:

Stage	Duration
Quote validity	30 minutes
Crypto deposit confirmation	1-5 minutes
Crypto to fiat conversion	2-10 minutes
Bank transfer	5-30 minutes
Total	10 minutes - 1 hour

Factors affecting speed:

Network congestion
Bank processing time
Transaction amount
Verification requirements
Peak hours

Quick Start Example

// Complete offramp flow
async function offrampExample() {
  // 1. Get quote
  const quote = await monei.offramp.getQuote({
    token: 'USDT',
    network: 'base',
    amount: 100,
    fiat: 'NGN'
  });
  
  console.log('Rate:', quote.rate, 'NGN per USDT');
  console.log('You will receive:', quote.fiatAmount, 'NGN');
  
  // 2. Verify bank account
  const bankAccount = await monei.offramp.verifyBankAccount({
    bankCode: '058',
    accountNumber: '0123456789'
  });
  
  console.log('Account Name:', bankAccount.accountName);
  
  // 3. Initiate swap
  const order = await monei.offramp.initiateSwap({
    amount: 100,
    token: 'USDT',
    network: 'base',
    fiatCurrency: 'NGN',
    bankCode: '058',
    accountNumber: '0123456789',
    accountName: bankAccount.accountName
  });
  
  console.log('Order Reference:', order.reference);
  console.log('Deposit Address:', order.onChain.depositAddress);
  console.log('Status:', order.status);
  
  // 4. Track progress
  const status = await monei.offramp.trackOrder(order.reference);
  console.log('Current Status:', status.status);
}

# Complete offramp flow
async def offramp_example():
    # 1. Get quote
    quote = monei.offramp.get_quote(
        token='USDT',
        network='base',
        amount=100,
        fiat='NGN'
    )
    
    print(f'Rate: {quote.rate} NGN per USDT')
    print(f'You will receive: {quote.fiat_amount} NGN')
    
    # 2. Verify bank account
    bank_account = monei.offramp.verify_bank_account(
        bank_code='058',
        account_number='0123456789'
    )
    
    print(f'Account Name: {bank_account.account_name}')
    
    # 3. Initiate swap
    order = monei.offramp.initiate_swap(
        amount=100,
        token='USDT',
        network='base',
        fiat_currency='NGN',
        bank_code='058',
        account_number='0123456789',
        account_name=bank_account.account_name
    )
    
    print(f'Order Reference: {order.reference}')
    print(f'Deposit Address: {order.on_chain.deposit_address}')
    
    # 4. Track progress
    status = monei.offramp.track_order(order.reference)
    print(f'Status: {status.status}')

Security & Compliance

KYC Required

Identity verification required for all offramp transactions

AML Checks

All transactions screened for compliance

Secure Deposits

Unique deposit addresses for each transaction

Bank Verification

Verify bank details before sending

Best Practices

Always Get Fresh Quote

Exchange rates fluctuate. Always get a fresh quote before initiating an offramp transaction. Quotes are typically valid for 30 minutes.

Verify Bank Details

Always verify the recipient bank account using the verification endpoint before initiating a swap. This ensures the account is valid and matches the name.

Choose Low-Cost Networks

Use Base or Polygon for the lowest gas fees. Avoid Ethereum unless you’re converting large amounts (>$1000).

Send Crypto Promptly

After initiating an offramp order, send the crypto within the quote validity period (usually 30 minutes) to lock in the exchange rate.

Track Transaction Status

Monitor your transaction using the reference number. You’ll receive updates as it progresses through different stages.

Save Transaction References

Keep all transaction references and deposit addresses for your records. You’ll need these for support inquiries.

Common Use Cases

Crypto Salary
Trading Profits
Remittances
Business Payments

Convert crypto salary to local currency

Receive USDT/USDC salary
Get quote for conversion to NGN
Verify your bank account
Initiate offramp
Receive NGN in your account

Frequency: Weekly/Monthly Typical Amount:

500 -

5,000

Next Steps

Bank Verification

Learn how to verify bank accounts

Exchange

Get quotes and initiate swaps

Tracking

Monitor your offramp transactions

KYC Verification

Increase your transaction limits

​Overview

​What is Offramp?

Convert Crypto

Receive Fiat

Multiple Networks

Fast Settlement

​How It Works

​Supported Assets

​Stablecoins

​Supported Fiat Currencies

NGN

​Supported Networks

​Exchange Rates

​Transaction Lifecycle

​Fees

​Limits

​Transaction Limits

​Minimum & Maximum

​Processing Time

​Quick Start Example

​Security & Compliance

KYC Required

AML Checks

Secure Deposits

Bank Verification

​Best Practices

​Common Use Cases

​Next Steps

Bank Verification

Exchange

Tracking

KYC Verification

Overview

What is Offramp?

How It Works

Supported Assets

Stablecoins

Supported Fiat Currencies

Supported Networks

Exchange Rates

Transaction Lifecycle

Fees

Limits

Transaction Limits

Minimum & Maximum

Processing Time

Quick Start Example

Security & Compliance

Best Practices

Common Use Cases

Next Steps