Why Fees Matter When Selling Crypto in Nigeria

Every time you sell crypto, you deal with at least one of these:

• Blockchain charges
  
• Platform buy/sell fees
  
• Bank transfer costs
  
• Conversion differences
  
• Spread (hidden pricing gap)
  

And depending on how you sell either on  P2P, direct cashout apps, OTC desks, or exchanges the total amount you actually receive can change significantly.

Understanding these fee types is the difference between cashing out wisely and losing a chunk of your earnings without even noticing.

Types of Fees Charged When Selling Cryptocurrency

1. Trading Fees on Exchanges & Apps

Trading fees are the first charges people encounter when they sell crypto on centralized exchanges or some Nigerian apps.

These fees appear when you sell your crypto inside the platform and they are usually called:

• Maker fees: when you place your own sell order and,
  
  
• Taker fees: when you accept an existing order
  

Most Nigerian users fall under taker fees because they sell instantly.

Typical trading fee range in Nigeria

• 0% – 1% depending on the service
  
  
• Binance, KuCoin, OKX is usually between 0.1% – 0.75%
  
  
• Luno is around 1%
  
  
• While some Nigerian apps can be  anywhere from 0% – 0.5%
  

Cubex, for instance, keeps their fees transparent so you know exactly what enters your bank account before you proceed to sell.

2.  Network / Blockchain Fees

Network fees come from the blockchain itself, not the platform you’re using. You pay this fee when sending crypto from your wallet to another address or service.

Fee expectations by network

• TRC-20 USDT (Tron): very low, usually 1 USDT or less
  
  
• BTC: varies with block congestion
  
  
• ERC-20 USDT / ETH: can be extremely high, especially during rush hour
  
  
• BEP-20 (BNB Smart Chain): moderate
  

This is one reason many Nigerian platforms  strongly recommend TRC-20 USDT, because its transfer fees are tiny and consistent.

The fees show up when you are Moving crypto from your wallet to an app,Sending from an exchange to another exchange and Funding your P2P wallet.

Even if a service advertises “free withdrawal,” network fees still apply unless the platform covers it for you.

3. Withdrawal Fees (Bank Transfers & External Wallet Transfers)

This is the amount you pay when converting crypto to Naira and moving it into your bank account.

Depending on the platform you decide to use, this can be:

• A flat fee
  
  
• A small percentage
  
  
• Zero (but covered inside their spread)
  

Examples across Nigeria

• Some apps charge between ₦50 – ₦200
  
  
• Some exchanges charge ₦100 – ₦500 per withdrawal
  
  
• Others say free, but adjust their exchange rate to cover the cost
  

4. Conversion Fees (Crypto Swaps & Fiat Conversion Costs)

Conversion fees sneak in when you

• Swap BTC or USDT inside the app
  
  
• Exchange USDT or BTC
  
  
• Convert from crypto to Naira
  

Some platforms call it conversion, while others include it inside the rate but it’s the same thing.

For example:
If the market rate for 1 USDT is ₦1,500 but a platform offers ₦1,460, that extra ₦40 difference is where their conversion cost sits.

5. The Spread Fee 

Spread is the gap between the Market price vs the price the platform gives you.

This is one of the most common charges in Nigeria and one of the hardest to detect.

Example:

• Real market rate: 1 USDT = ₦1,550
  
  
• Platform rate: 1 USDT = ₦1,490
  

You didn’t see a fee , but you paid ₦60 per USDT without even knowing.

Most P2P traders rely heavily on spread differences to make profit which is why their rates often beat centralized exchanges and apps.

6. P2P Fees 

P2P is popular in Nigeria because you often get better rates, but it isn’t totally free.

These are always  costs hidden inside P2P trading like;

Direct Costs

• Merchant fees (some platforms charge this)
  
  
• Potential escrow charges
  
  
• Network fees when sending the crypto
  

Indirect Costs

• Fake alerts
  
  
• Third-party payments
  
  
• Chargeback attempts
  
  
• Disputes
  
  
• Time wasted waiting for a buyer
  

P2P can be cheap, but the risks make it expensive in another way.

Selling 100 USDT in Nigeria Using Different Methods

The numbers change daily, but here’s how the differences often play out:

P2P

• Best rate
  
  
• USDT TRC-20 fees apply
  
  
• Higher scam risk
  
  
• Can take extra time
  
  

Cashout apps like Cubex

• Steady rate
  
  
• Clear fees
  
  
• Fast bank credit and you get predictable earnings
  

This is why many Nigerians mix methods depending on urgency and coin type.

How to Reduce Fees When Selling Crypto in Nigeria

Here are the easiest ways to save money:

•  Use TRC-20 USDT-Cheapest network fee.

•  Compare platforms before you sell-Some offer better rates depending on volume.

•  Avoid double conversions-If you already have USDT, don’t swap to BTC again.

•  Sell during periods of low congestion-ETH fees drop at night or early morning.

• Stick to trusted apps-Services like Cubex, Breet, and Luno keep fees open.

•  Don’t rush-Emergency cashouts attract the worst spreads.

Frequently Asked Questions 

 What fees do I pay when selling crypto in Nigeria?

You may pay trading fees, network fees, withdrawal fees, conversion costs, or spread depending on the platform you use.

 Which method has the lowest selling fees?

P2P usually has the best rates, while TRC-20 has the lowest blockchain fee.

Can I sell crypto with zero fees?

Some apps claim zero fees, but they typically earn through spread instead of visible charges.

Do I pay fees for withdrawing to my bank in Nigeria?

Some services deduct a small charge. Others hide it within the rate they offer.

Final Thoughts

Selling crypto in Nigeria gets much smoother once you know the different places fees can show up. Some services tell you the charges upfront, while others hide them inside the rate they offer. When you understand how each method works, it becomes easier to see what’s going out and what’s truly yours.

In the end, all you want is to keep more of your earnings every time you sell.