General
Wallet Balances Explained (NGN, USDT, USDC) and How Fees Work
Your Liqwifi wallet has separate balances for:
NGN (fiat)
USDT (crypto)
USDC (crypto)
How each balance is used
NGN balance
Used for NGN withdrawals to bank.
Used for bills and utilities payments.
Used to cover withdrawal fees when withdrawing crypto to bank.
USDT balance
Used for USDT deposits, swaps, and withdrawals.
USDC balance
Used for USDC deposits, swaps, and withdrawals.
How swap fees work
When you swap using quotes, the app shows:
The exchange rate: A spread applied to the rate
The conversion fee: The estimated amount you will receive
You only complete the conversion when you redeem the quote.
How crypto and NGN withdrawal fees work
Withdraw NGN to bank: The withdrawal debits your NGN balance plus a flat NGN fee.
Withdraw crypto (USDT or USDC) to bank
The app debits: Your selected stablecoin amount (USDT or USDC)
Plus it debits NGN fee coverage from your NGN balance
So you must have enough stablecoin balance and enough NGN balance to cover the fee.
How deposit fees work
Crypto top ups: If your crypto provider charges a fee, the credited amount is what remains after provider fees.
Card top ups:
If the card provider charges fees, the credited amount is the net amount after fees.
Where to see fees before you confirm
For swaps, fees are shown in the generated quote screen before you redeem.
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