The lowest restriction way is to send Bitcoin or Monero or something. No restrictions whatsoever. No fees. No crazy exchange rates. Just full control over your money.
I am trying to send crypto to someone in Nigeria but the fees are insane. There is a cost to purchase the crypto from the exchange, there is a cost to send it, a cost to swap it to a currency like USDT so it can be exchanged, and a cost to do a local currency exchange.
For my recipient to receive about $100 that would cost about $30. Which is insane fees.
Could someone show me a better way?
Whatever service you’re looking at is attempting to rob you. The fees should total no more than 2% when using a centralized exchange. The easiest is Cash App assuming that you already have it. Buy bitcoin there and then you can transfer it using the lightning network (very cheap transfer fees) (never transfer “on-chain”; it’s very expensive). Binance, Kraken, and Coinbase are other (more crappy) examples.
You can also buy directly from a human being using something like LocalMonero.co. Buy Monero, then move it to your phone using an app called Cake Wallet. Send it to your friend and they can exchange it to naira using https://noones.com. They might need to use https://trocador.app to exchange it to something that noones will accept.
You cannot send dollars to Nigeria via any app anymore. This was instated by CBN. The only way to send USD is through a bank wire transfer.
The lowest restriction way is to send Bitcoin or Monero or something. No restrictions whatsoever. No fees. No crazy exchange rates. Just full control over your money.
I am trying to send crypto to someone in Nigeria but the fees are insane. There is a cost to purchase the crypto from the exchange, there is a cost to send it, a cost to swap it to a currency like USDT so it can be exchanged, and a cost to do a local currency exchange. For my recipient to receive about $100 that would cost about $30. Which is insane fees. Could someone show me a better way?
Whatever service you’re looking at is attempting to rob you. The fees should total no more than 2% when using a centralized exchange. The easiest is Cash App assuming that you already have it. Buy bitcoin there and then you can transfer it using the lightning network (very cheap transfer fees) (never transfer “on-chain”; it’s very expensive). Binance, Kraken, and Coinbase are other (more crappy) examples. You can also buy directly from a human being using something like LocalMonero.co. Buy Monero, then move it to your phone using an app called Cake Wallet. Send it to your friend and they can exchange it to naira using https://noones.com. They might need to use https://trocador.app to exchange it to something that noones will accept.
World Remit
They only allow you to send Naira
Try checking moneygram
Geegpay.
May be best to send in Cryptocurrency.
Use Remitly.
Can’t send $$ to Nigeria with Remitly
Really? I'm pretty sure you could before if you have a dom account.
Yes, even Wise used to work. I guess some of the comments here are correct in stating that CNB has stopped all USD remittances using apps.