Post
Topic
Board Nigeria (Naija)
Re: Your opinion about Bitcoin being a viable solution for sending money to Nigeria
by
Igebotz
on 06/08/2025, 22:32:16 UTC
How much charge for sending money from foreigners through centralized medium like MoneyGram, Western Union and the rest to Nigerian bank, do you know?
Just checking whether the charge can be up to the transaction charge of Bitcoin $2.08 on trust wallet that's approximately 3200 Naira.

If the Western Union transaction charge is less or higher than Bitcoin, let's get the comparison from there.

Western Union and other centralized merchants charges based on receiver locations, payment options and amount to be sent, the charges are not static, but it minimum of $5-10 if you're sending less than 1million Naira and it usually takes 1-2 business working days and in some cases even 5 working days excluding weekends.

Bitcoin even at $2 at the moment is still cheaper out there and fees are calculated based on block space not the amount.