Last updated: 5 May 2026
Agreement
These Terms of Use (“Terms”) govern your access to and use of the Bitmonie platform, operated by Monierate Digital LTD, a licensed money lender in Nigeria. By creating an account or using the platform, you agree to these Terms and to our Privacy Policy, Risk Disclosure Statement, and Disclaimers.
If you do not agree, do not use the platform.
Eligibility
To use Bitmonie, you must:
- Be at least 18 years old.
- Be a resident of Nigeria with a valid BVN and NIN.
- Have legal capacity to enter into a binding contract.
- Pass our identity verification (KYC) and anti-money-laundering checks.
- Not be on any sanctions or restricted-persons list.
We may decline service or terminate accounts at our discretion where regulatory or risk-management reasons require it.
Loan terms
Loan amounts and rates
- Minimum loan: ₦50,000.
- Maximum loan (online): ₦10,000,000. For larger loans, contact us at 0701-839-7341 or loans@bitmonie.co.
- Daily interest rate: 0.3% of your outstanding balance, accruing daily. You only pay for the days you borrow — there are no early-repayment penalties.
- Loan-to-value ratio: 60%. The remaining 40% is your safety buffer against price movement.
Disbursement and repayment
Loans are disbursed in Naira to the bank account you have linked to your account. Repayment can be made at any time, in part or in full, in Naira. On full repayment, your Bitcoin collateral is released back to your wallet.
Margin calls and liquidation
If the value of your Bitcoin collateral falls such that your loan-to-value ratio rises above the threshold disclosed in your loan agreement, we may issue a margin call requiring you to top up collateral or repay part of the loan within the time stated. If you do not respond, we may liquidate part or all of your collateral to bring the loan back into compliance. See Risk Disclosure Statement for full details.
Your account
You are responsible for:
- Keeping your login credentials and two-factor authentication device secure.
- The accuracy of information you provide.
- All activity that occurs under your account.
Notify us immediately at loans@bitmonie.co if you suspect unauthorised access.
Acceptable use
You agree not to:
- Use the platform for any unlawful purpose, including money laundering or terrorist financing.
- Attempt to circumvent KYC, AML, or transaction-monitoring controls.
- Use automated tools or scripts to access the platform without our written permission.
- Misrepresent your identity or the source of your Bitcoin.
- Interfere with the operation, security, or integrity of the platform.
Fees and taxes
You are responsible for any taxes that may arise from your use of the platform, including capital-gains tax on any Bitcoin you sell or have liquidated. We do not provide tax advice — consult a qualified tax professional.
Termination
We may suspend or terminate your account if you breach these Terms, if required by law, or if we reasonably suspect fraud or abuse. On termination, any outstanding loan balance becomes immediately due, and we may apply your collateral to settle it.
Limitation of liability
To the fullest extent permitted by Nigerian law, Bitmonie’s aggregate liability to you in connection with the platform is limited to the total fees you have paid to us in the 12 months preceding the event giving rise to the claim. We are not liable for indirect, incidental, or consequential losses, including lost profits or lost opportunity.
Governing law and disputes
These Terms are governed by the laws of the Federal Republic of Nigeria. Disputes will be resolved by the courts of Lagos State, except that we may seek injunctive relief in any competent court to protect our rights.
Changes to these Terms
We may update these Terms from time to time. Material changes will be communicated at least 14 days in advance. Continued use of the platform after changes take effect constitutes acceptance.
Contact
Questions can be sent to loans@bitmonie.co.