What’s the word, good people? It’s Jeremy.
Today, I am unbelievably excited to introduce you to something we’ve been building. Something born out of a real problem, a real night, and a real frustration that I know many of you have felt.
It’s called Bitmonie, and the link is www.bitmonie.co.
Borrow. Repay. That’s it.
Bitmonie is a Bitcoin-backed loan service that lets you borrow up to ₦1 million using your Bitcoin as collateral. No technical knowledge required. No jargon. No complexity. If you already know how to send money from your phone, you already know enough.
There are only two things you will ever do on Bitmonie. You borrow money, and you pay it back. That’s the whole product. We’re not building ten things. We’re building one thing, and we’re building it right.
Simple. Tight. Sustainable.
Why Bitcoin as Collateral?
Bitcoin is the best collateral in the world.
I know that sounds bold, but hear me out. We’ve verified it. Land, houses, cars, stocks. These are the conventional assets people pledge when they need financing. They come with paperwork, valuations, middlemen, and delays. Bitcoin comes with none of that. It is open, verifiable, globally liquid, and never sleeps.
Bitcoin is a superior form of collateral. And it’s time a product treated it that way.
How It Works
The entire journey, from needing cash to having it, is five steps:
Visit www.bitmonie.co
Register with your email and verify with a code
Enter how much you want to borrow and see the exact collateral required
Open your Bitcoin or Lightning wallet and send the collateral
Your bank account, mobile money, or stablecoin wallet gets credited
Start to finish: 2 to 10 minutes.
A Story
The idea is not novel. It is a derivative of a personal problem.
Last year, when Bitcoin was around $90,000 and the dollar was swinging between ₦1,400 and ₦1,500, I was stuck in a hotel several thousand miles from home. I needed about ₦300,000 to book a flight back and cover the extra days. My income was arriving in three days. I’m not the guy who calls friends to borrow spending money. And the Nigerian loan apps like Fairmoney and Easemoni charge sky-high monthly rates for money I only needed for 72 hours.
I knew Bitcoin-backed loans existed. Binance, Ledn. So I locked up 400,000 sats, about $360 worth of Bitcoin at the time, and took a $200 USDT loan against it. I converted that to ₦286,000 at roughly ₦1,430 to the dollar.
Three days later, I had to buy ₦300,000 worth of USDT just to repay. The dollar had crept toward ₦1,500 on the buy side. The difference came from swap fees, spreads, and conversions. It ate up ₦14,000.
I ended up paying roughly 4.8% for a three-day loan. Cheaper than if I’d used Fairmoney or Easemoni. But there was still serious damage.
Now, the Binance interest rate for the three days itself was way lower than 1%. The damage wasn’t the loan. It was the friction. Converting naira to USDT and back again is where the value disappeared.
So I asked myself a simple question. What if the loan was disbursed in naira, and repaid in naira, I would’ve repaid ~ ₦2,000, that’s ₦288k rather in total instead of ₦300k.
The answer to that question is Bitmonie.
Bitmonie Is That Loan, Done Right
You lock your Bitcoin. You receive naira. You repay in naira. You only pay for the exact days you borrowed. Your Bitcoin is never lent out. It is SAFU, and it comes back to you the moment you repay.
No shitcoins. No swap fees. No spread. No conversion loss. Just a clean, simple, naira-denominated loan backed by the hardest money on the planet.
If you need urgent cash and you’re sitting on Bitcoin, there is now a better way. Up to ₦10 million.