Questions, answered plainly

There is no single official figure for this. The rate is set by peer to peer and instant exchanges trading in real time, and it differs slightly from one platform to the next. The board on the homepage checks five major exchanges at once and shows the current best price to buy and the current best price to sell, refreshed roughly every ninety seconds.

Buy is what you pay in naira for one USDT, and sell is what you receive for one. Buy is always the higher figure. The gap between them, called the spread, is how the merchant or exchange on the other side of the trade is compensated for the risk and work of being available to trade with you.

The official rate comes from institutional currency data and reflects official policy and large scale flows. The street rate is discovered directly through real trades between ordinary buyers and sellers who need currency immediately. When official channels cannot fully meet demand, the two figures drift apart, and the gap widens or narrows as that balance shifts.

Reputable exchanges hold the USDT in escrow for the length of the trade, so neither side can disappear with both the coin and the money. The main risks are practical rather than technical: paying the wrong account, trading with a merchant that has no completed order history, or missing a small mismatch in the amount. Reading the merchant's completion count before trading, and using the exchange's dispute button the moment something stalls, avoids most problems.

It changes hour to hour, which is the reason a comparison board like this one exists rather than a single fixed answer. Bybit and OKX typically carry the deepest peer to peer boards, Bitget frequently posts standout individual offers with smaller limits, and Quidax and Luno offer instant, one-click prices that are usually a little less competitive in exchange for speed and simplicity.

The board is cached for about ninety seconds and refreshed automatically after that. The exact age of the numbers you are looking at is printed next to the live indicator at the top of the homepage, so you always know how current it is rather than having to guess.

The spread is the difference between the best price to buy and the best price to sell at a given moment. If you bought USDT and sold it straight back, the spread is approximately what that round trip would cost you. A narrow spread generally points to a calm, liquid market, and a sudden widening is often an early sign the market is moving.

No. This site does not trade, does not hold funds, and is not affiliated with any exchange it lists. It is a price comparison board only. Every trade happens directly on the exchange you choose to open, under that exchange's own terms.