How to withdraw crypto to naira in Nigeria: rates and rules

The route we researched is P2P: you sell USDT on a P2P market to a buyer who pays your Nigerian bank, OPay or PalmPay account. At our reading at 13:19 WAT on 11 Oct 2026, the typical price for a 100,000 naira order was 1,362.83 naira per USDT on MEXC’s naira P2P market, 1,362.03 on OKX’s and 1,360.55 on Bybit’s.

Those prices are one reading with a date. We repeat it every day and publish the newest figures, with the history, on our USDT to naira rates page.

The route has three stages: get USDT onto an exchange with a naira market, pick the market and the advert, then release only after you are paid.

Stage one: get USDT onto an exchange that has a naira market

The three markets we read are OKX, Bybit and MEXC. Binance is not one of them: it discontinued all Nigerian naira services in March 2024, so its P2P market does not offer naira. USDT held on Binance has to be sent to an exchange that does.

If you hold an altcoin, swap it into USDT first on the exchange where it sits. That swap is a spot trade with its own fee. Our price readings cover USDT only.

Pick the transfer network by its fee. The fee is a flat amount, so it matters most on small transfers. From Binance’s fee list, sending 50 USDT on Tron (TRC20) costs 1.5 USDT, which is 3% of the amount. Sending it on BNB Smart Chain (BEP20) costs 0.01 USDT, which is 0.02%.

USDT withdrawal fees each exchange displayed on 11 Oct 2026, in USDT:

Network	Binance	OKX	MEXC
BNB Smart Chain (BEP20)	0.01	not listed	0.01
opBNB	0.015	not listed	not listed
Optimism	0.04	0.015	0.0078
Avalanche C-Chain	0.04	0.025	0.000074
Polygon	0.07	0.011 (shown as USDT0)	0.0065
Solana	0.3	0.31	0.18
TON	0.3	0.022	0.017
Arbitrum One	0.4	0.0033 (shown as USDT0)	0.05
Ethereum (ERC20)	0.5	0.32	0.094
Tron (TRC20)	1.5	1.5 (10 USDT minimum)	0.5

The full fee lists, with each network’s minimum withdrawal, are on our open data page.

Two things follow for someone leaving Binance:

• To MEXC: both exchanges list BNB Smart Chain for USDT, and Binance charges 0.01 USDT on it.
• To OKX: OKX does not list BNB Smart Chain for USDT, so that route is out. Of the networks on both lists, Optimism and Avalanche C-Chain were the cheapest from Binance at 0.04 USDT each.

On OKX, its P2P sell FAQ says the crypto has to be in your Funding account, and you need a verified account with a payment method added. OKX has no minimum deposit to open an account and says it charges zero fee on P2P trading.

Stage two: what each market paid, by order size

We read these typical prices for selling 1 USDT at 13:19 WAT on 11 Oct 2026:

Order size	OKX	Bybit	MEXC
20,000 naira	1,359.01	1,359.00	1,359.00
100,000 naira	1,362.03	1,360.55	1,362.83
1,000,000 naira	1,363.43	1,361.38	1,363.34

Selling 100 USDT at the 100,000 naira price returned about 136,283 naira on MEXC, 136,203 on OKX and 136,055 on Bybit.

On all three, a 1,000,000 naira sale got a better typical price than a 20,000 naira sale. The gap was 4.42 naira per USDT on OKX, 2.38 on Bybit and 4.34 on MEXC.

Featured adverts paid less at this reading. Bybit showed 4 featured adverts on the selling side, all paying 1,337.40 naira. MEXC showed 2, paying 1,326 naira. Selling 100 USDT to one returned 133,740 naira on Bybit, which is 2,315 less than its typical price, and 132,600 on MEXC, which is 3,683 less.

How we read the lists. A script reads each exchange’s public advert list without an account. An advert counts only if it accepts the order size and its advertiser shows at least 10 completed orders and a completion rate of 90% or better. The typical price is the middle of the 10 best such prices. Featured adverts are recorded apart and never counted in it. For Bybit we read the list with the filter its page applies by default.

How many buyers there are and how they pay

Our count of the adverts buying USDT for naira (the ones you sell to) at 13:20 WAT on 11 Oct 2026:

	OKX	Bybit	MEXC
Adverts buying USDT	198	1,132 (1,423 without the default filter)	149
Smallest minimum order	1,300 naira	4,500 naira	5,000 naira
Advertisers at 90%+ completion	78%	96%	74%

Share of those adverts that pay to each method:

Method	OKX	Bybit	MEXC
Bank transfer	93%	93%	91%
OPay	67%	77%	81%
PalmPay	55%	67%	75%
Kuda	32%	70%	74%
Moniepoint	38%	no figure	no figure
Access Bank	21%	45%	68%

The time a buyer is allowed to pay you is set by each advert:

Time allowed	OKX	Bybit	MEXC
15 minutes	47%	57%	40%
30 minutes	29%	43%	51%
60 minutes	17%	0%	no figure

This is a maximum, not a measurement of how fast buyers pay.

Stage three: release only after the naira is in your account

OKX’s P2P safety article for traders in Africa names the costliest pattern reported by Nigerian sellers. A buyer reverses a completed bank transfer after receiving the crypto, or pays with funds from a hacked account, and the seller cannot recover the naira.

The steps below follow OKX’s guidance for sellers:

1. Choose the advertiser on completed orders, completion rate and account age before a slightly better rate.
2. Open the order and keep all chat inside the app.
3. When the buyer selects Paid, open your own banking app and find the money there. Do not rely on a screenshot or a bank alert, which can be edited.
4. Make sure the payment came from an account in the same name as the buyer’s exchange account.
5. Select Received, which releases the USDT, only after steps 3 and 4.
6. If the money has not arrived, open a dispute early. On OKX a seller can submit an appeal once 5 minutes have passed since the buyer selected Paid.

On Bybit, its appeal guide says an appeal can only be submitted within five calendar days after the order is closed. As proof it asks for a video recording of the transaction history page in your banking app. The video must show the account name and number, and the transaction with its amount, payer name, date and time.

The downsides

• P2P carries counterparty risk. A reversed transfer can arrive after you have released, and the checks above reduce that risk without removing it.
• Crypto is highly volatile and your capital is at real risk. That applies to any coin you hold before it is swapped and sold.
• Some OKX products are restricted by jurisdiction. OKX says it is regulated by VARA in Dubai and registered or licensed in multiple markets. That statement is OKX’s own and is not about Nigeria.
• OKX also offers derivatives, which are advanced products. Cashing out to naira does not need them.

What we could not confirm

• Whether each network in the fee table is open for USDT deposits on the receiving exchange. The lists are withdrawal lists, and we did not test deposits.
• Bybit’s USDT withdrawal fees and deposit networks, which were not part of this research.
• Any exchange’s licence or legal status in Nigeria, and how crypto sales are taxed there.

This guide is for education only, is not financial advice, and trading carries a risk of loss.