Guide

Crypto on-ramp and off-ramp in Nigeria

How crypto to naira works

An on-ramp turns naira into crypto. An off-ramp turns crypto, such as USDT, back into naira you can send to your bank. In an app, that means deposit, swap, then cash out.

Last checked 9 November 2026

This guide explains how crypto-to-naira works. It is not financial or legal advice, and it does not predict rates. Check the CBN and SEC directly for the rules that apply to you.

How it works

Step by step.

01
Verify your account
Sign up and complete identity checks. On Palremit that includes a selfie and your BVN.
02
Deposit your crypto
Pick the coin and network in the app, copy your address, and send from your wallet or exchange on that same network.
03
Swap to naira
Go to Swap, choose the pair, such as USDT to NGN, and check the rate before you confirm.
04
Cash out to your bank
Go to Cash Out, pick NGN and Bank Account, enter the account details, and confirm with your PIN.

On-ramp and off-ramp, in plain words

On-ramp: you pay naira and receive crypto, for example NGN to USDT.
Off-ramp: you send crypto and receive naira, for example USDT to NGN, then withdraw to a Nigerian bank account.
Most people off-ramp after being paid in USDT or USDC, or to move crypto from an exchange to their bank.

The rules to know

November 2026: the CBN issued regulations for non-security virtual assets, covering stablecoin issuers, exchanges, wallet providers and payment-related crypto businesses.
Under those rules, peer-to-peer (P2P) crypto services need specific CBN approval.
In a P2P trade, the provider must not release the crypto unless the name and BVN on the naira account match the verified customer. Expect apps to check that the bank account is yours.
August 2026: the SEC proposed registration fees and capital levels for crypto exchanges, custodians and other platforms. These were proposals at the time of reporting.

What to check in an off-ramp app

It verifies your identity. A provider that skips checks is a risk to your money.
It shows the rate before you confirm, and you compare the naira you receive, not just the headline rate.
It supports the coin and network you hold, such as USDT on a specific chain.
It pays out to your own bank account, in your name.
You can reach support if a deposit or payout is delayed.

Off-ramping with Palremit

Palremit supports BTC, ETH, USDT, USDC, SOL, BNB and XLM. You deposit to your Palremit address, swap to naira in the app, and cash out to your Nigerian bank account. You see the rate and any fees before you confirm. You can also go the other way, from naira to crypto.

For businesses: off-ramp by API

If you run a platform that needs to convert crypto to naira for your customers, Palremit for Business offers API access for FX, transfers and rate feeds. See the business page for details.

Useful pages

Help

Questions, answered.

What is an off-ramp?

A service that turns crypto into normal money, such as naira in your bank account.

How do I convert USDT to naira?

Deposit USDT to a verified app on the right network, swap it to NGN, then withdraw to your bank. Check the rate before you confirm.

Why does the app check that the bank account is mine?

It keeps your money safe, and CBN rules from November 2026 require P2P providers to match the naira account's name and BVN to the verified customer.

Is there an off-ramp API for businesses in Nigeria?

Yes. Palremit offers API access for businesses. See the business page.