Cryptocurrencies How Much Is 1 Ethereum In Nigeria aren’t just for tech-savvy millennials anymore. Even traditional businesses are starting to get on the bandwagon, and one of the most popular cryptocurrencies is Ethereum. If you’re wondering how much 1 Ethereum is worth in Nigeria, we have you covered. In this blog post, we will walk you through the steps required to determine the value of a cryptocurrency like Ethereum in a specific country.
Ethereum is a cryptocurrency and blockchain platform
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum is unique in that it allows for “contracts to be executed asynchronously, and sometimes in parallel,” which makes it ideal for a wide range of use cases beyond just cryptocurrency.
As of May 2018, Ethereum had a market cap of $47.4 billion and was the second most valuable blockchain after Bitcoin.
What are the advantages of Ethereum?
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum is based on blockchain technology, and its design permits multiple simultaneous users.
The Ethereum Virtual Machine (EVM) ensures perfect execution of the instructions given by the user. This makes it an ideal platform for creating and running smart contracts. In addition, Ethereum offers a built-in governance system and a Turing complete script language which allow for easy development of dApps (distributed applications).
How to buy and sell Ethereum
In Nigeria, Ethereum is traded at N155 per ETH. The most popular way to buy and sell Ethereum in Nigeria is through online exchanges like Bitros. However, you can also find Ethereum sellers on social media platforms like Facebook and Twitter.
Before buying or selling Ethereum in Nigeria, make sure you have a valid e-wallet address where you will be storing your cryptocurrencies. You can also use mobile wallets such as MyEtherWallet and Jaxx. Once you have an e-wallet address and a mining software, start mining Ethereum on your computer.
To buy Ethereum in Nigeria, first find an exchange that is listed on Bitros. From there, input the amount of ETH you want to purchase and hit the “buy” button. Click on the confirmation link sent to your e-mail address to complete the purchase. Be sure to verify your account with the exchange before making any more transactions.
To sell Ethereum in Nigeria, first find an exchange that is listed on Bitros. From there, input the amount of ETH you want to sell and hit the “sell” button. Click on the confirmation link sent to your e-mail address to complete the sale. Be sure to verify your account with the exchange before making any more transactions
How to store Ethereum
Ethereum is a cryptocurrency and blockchain platform with smart contract functionality. It was created by Vitalik Buterin, a Russian-Canadian programmer, in late 2013. Ethereum is not controlled by any one party and uses a public blockchain to record transactions.
To store Ethereum, you can use a hardware wallet like the Ledger Nano S or Trezor. You can also store Ethereum on an online exchange like Binance or Coinbase.
Conclusion
As of this writing, 1 Ethereum is worth $1,242.48 USD on BitcoinMarkets.com. That means that if you had 1 ETH stored in a digital wallet as of September 5th, it would be worth approximately $1,242.48 by September 10th! With such volatility in cryptocurrency prices, it’s important to stay aware of the current value of your holdings and always keep track of recent changes so that you can make informed decisions when trading or exchanging cryptocurrencies.
