HOW TO TRACK eNaira PRICE; The eNaira is a digital version of the Nigerian currency, the Naira, issued by the Central Bank of Nigeria (CBN). The eNaira is expected to make financial transactions faster, easier, and more secure for Nigerians. It will also help to reduce the cost of printing and managing paper currency. The eNaira is built on blockchain technology, which allows for secure and transparent transactions. The CBN has partnered with Bitt Inc., a blockchain company, to develop the eNaira. Bitt Inc. has previously developed digital currencies for other countries in the Caribbean region.
Since Nigeria launched its digital currency, the eNaira, it’s important for interested individuals and investors to understand how to track its price. Like other cryptocurrencies and fiat currencies, the eNaira price will fluctuate based on various factors such as demand, supply, market sentiment, and regulatory policies. In this article, we will explore how to track the eNaira price and what tools are available to do so.
Official eNaira Website
The first and most obvious place to track the eNaira price is through the official eNaira website. Once the eNaira is launched, the website will provide real-time updates on the price and other market information. The website will also serve as a platform for purchasing and selling the digital currency. As the eNaira project is still in development, it’s important to keep an eye on the official website for updates on the launch date and other important information.
Cryptocurrency exchanges are another great option for tracking the eNaira price. Many exchanges list popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin, and they will likely add the eNaira to their list once it’s launched. These exchanges offer real-time market data on the price of various cryptocurrencies, including the eNaira. Additionally, many exchanges offer trading pairs for the eNaira, allowing users to trade the digital currency for other cryptocurrencies or fiat currencies.
Cryptocurrency Price Trackers
There are numerous cryptocurrency price trackers available online, and many of them offer real-time price updates for the eNaira. Some of the popular price trackers include CoinMarketCap, CoinGecko, and Live Coin Watch. These websites offer market data on various cryptocurrencies, including the eNaira. Additionally, these websites offer features such as price alerts, market analysis, and historical data.
Social media is a great place to keep up with the latest news and market sentiment surrounding the eNaira. Twitter and Reddit are two popular social media platforms where users can discuss and share information about the eNaira. By following relevant hashtags and joining online communities, investors and traders can stay up-to-date on the latest developments and market trends.
Finally, following news outlets and financial publications is another great way to track the eNaira price. Major news outlets like CNN, Bloomberg, and CNBC will likely cover the launch of the eNaira and provide updates on its price and market performance. Additionally, financial publications like Forbes, The Wall Street Journal, and The Financial Times will offer analysis and insights on the eNaira and its impact on the broader financial market.
Use Cases of The eNaira
The eNaira can be used for a wide range of transactions, including payments for goods and services, remittances, and peer-to-peer transactions. It is expected to be accepted by merchants and businesses across the country, as well as by government agencies.
One of the primary use cases for the eNaira is to facilitate financial inclusion in Nigeria. According to the World Bank, only 40% of Nigerians have access to formal financial services, such as bank accounts. The eNaira is expected to make it easier for Nigerians to access financial services, regardless of their location or socioeconomic status.
Another important use case for the eNaira is to reduce the reliance on cash in the economy. Cash transactions are expensive to manage and carry significant security risks, such as theft and counterfeiting. By promoting the use of the eNaira, the CBN hopes to reduce the amount of cash in circulation and improve the overall efficiency of the Nigerian economy.
How To Exchange Cryptocurrencies for Fiat on Astro Africa
Astro Africa is undoubtedly one of the most fantastic cryptocurrency exchanges to come out of the Nigerian cryptocurrency ecosystem. It is a platform that embodies the definition of profitable, fantastic user experience, security, and transparency. Astro Africa allows users to exchange their cryptocurrency assets for Naira or Cedis (plans are in motion to expand to other parts of Africa). They provide services such as:
- Exchange cryptocurrency for fiat.
- Direct local deposits.
- Exchange gift cards for fiat.
- Exchange gift cards for crypto.
- An exchange rate calculator.
- High exchange rate for converting assets.
The list goes on and on. All these are made available to users easily, all you need is an internet-accessible mobile phone. They also have a mobile application available for just Android users for now. The amazing thing about Astro Africa is that users are entirely in charge of their portfolios and do not need to hold their assets on the platform before they can trade and withdraw their fiat directly to their local bank accounts free of charge. This makes users focus more on trading and not have to worry too much about how their fiat is being moved around when they need it.
Together with the awesomeness of Astro Africa mentioned above, the signup process is one of the most seamless and straightforward processes ever:
- Proceed to the Astro Africa signup page, and complete all the required details.
- Once the step above is completed, you’ll instantly receive a confirmation code in your email. Copy this code and complete your signup.
- Once you’re done, you are required to set up a five-digit (5) transaction pin. It’s that easy, you can now start trading or you can explore the sleek user interface.
- Make sure you complete your profile by adding your bank account and other necessary details to ensure a maximum pleasurable user experience.
- Next, proceed to select “Sell Crypto”. You first select the amount of crypto you wish to sell (minimum $5). For now, you can only exchange Bitcoin (development is already in progress for supporting other assets).
- You can see the exchange rate, the amount you will receive in fiat also, and the wallet address for you to send your assets to. After 2 block confirmations, your Astro Africa wallet is credited with fiat you can proceed to withdraw to your local bank account.
You can always learn more about How To Trade on Astro Africa and read their blog on various posts about how to trade various gift cards and cryptocurrencies effectively. It is an exciting innovation that has come to stay.
It is noteworthy that tracking the eNaira price is important for anyone interested in investing or trading the digital currency. By utilizing the various tools and resources available, investors and traders can stay up-to-date on the latest market information and make informed decisions. As the eNaira is still in development, it’s important to keep an eye on the official website and other news outlets for updates on the launch date and other important information.