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
Supported Assets
Stablecoins
- USDT
- USDC
- CNGN
Tether USD
Most Popular: BNB Smart Chain, Polygon (lowest fees)
| Network | Status |
|---|---|
| Polygon | ✓ Supported |
| Arbitrum One | ✓ Supported |
| BNB Smart Chain | ✓ Supported |
| Ethereum | ✓ Supported |
| Tron | ✓ Supported |
| Lisk | ✓ Supported |
| Celo | ✓ Supported |
Supported Fiat Currencies
NGN
Nigerian Naira (Primary)
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.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:
Note: Gas fees are paid by you when sending crypto
| Network | Typical Cost |
|---|---|
| Polygon | 0.05 |
| Base | 0.10 |
| Arbitrum | 0.50 |
| BSC | 0.20 |
| Optimism | 0.30 |
| Ethereum | 10.00 |
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 |
- Network congestion
- Bank processing time
- Transaction amount
- Verification requirements
- Peak hours
Quick Start Example
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
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
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
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
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
Track Transaction Status
Monitor your transaction using the reference number. You’ll receive updates as it progresses through different stages.
Save Transaction References
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
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

