Ether is a Cryptocurrency, the network powered by PoW (consensus mechanism based on mining) algorithm. The original software was developed by Vitalik Buterin from CA and first released July 30th, 2015. Nowadays the cryptocurrency is managed by the Ethereum Foundation, an organization based in the CH. Smart Contracts are supported by the Ether blockchain. The official Ether website is https://www.ethereum.org.
As of today, December 3rd, 2022, out of totally available 120,521,484 ETH, 120,521,484 are in circulation. It's possible to mine ethers. The total market capitalization of ether is $153,087,711,554, the rank among other cryptocurrencies (based on the capitalization) is #2. The current rate of 1 ETH is $1270.78 USD; converting to the national currency of Nigeria, the rate is 563807.0 NGN for 1 ETH.
Ethereum is the first cryptocurrency that made Smart Contracts a popular and rather a widely used technology; a lot of companies from startups to large corporations showed interest to it. Smart Contracts code is executed by the Ethereum Virtual Machine (EVM). The platform uses a token called Ether (ETH) as a form of compensation for the nodes participating in Smart Contracts executing. There is an internal transaction pricing mechanism, based on “Gas” a tiny fraction of ETH used especially for payments to the miners. Although there is no hard cap of the total supply of Ethereum tokens (i.e. it's unlimited if given infinite time), the fixed amount of coins mined every year and the miner reward decrease following network updates aim to decrease inflation over time.
Ethereum development was funded by the means of ICO, about 13% of coins currently in circulation were distributed during the offering. In 2016 Ethereum introduced DAO (Decentralized Autonomous Organization) project that collapsed due to a bug in software code; an unknown hacker managed to draw funds in equivalent to over 50 million USD (based on rates of 2016). The Ethereum community decided to create a hard fork (an "alternative reality" where was no heist; the majority of users agreed to switch to this one) of the network to restore the funds. Some members were against such a decision; the original chain where the stolen funds remained under the hacker control became maintained by the group of enthusiasts called it Ethereum Classic (ETC).
Ethereum smart contracts and the ERC-20 protocol standard for tokens became de-facto a standard for Initial Coin Offering (ICO)s, a type of crowdfunding using cryptocurrencies became popular in 2017. ICOs are often used by the startups as a form to raise capital from the mass investors, making it almost an equivalent of IPO in a mainstream investment world, although with significantly fewer expenses and much less regulation. As for 2019, Ethereum remains a leading blockchain platform for the ICOs.
Ether is currently supported by 100% of exchanges (1 of 1) currently having active orders at ExchangeRates.Pro: and 1 P2P Marketplaces have offers, allowing you to buy and sell ETH. Let's check and compare which of these exchanges will suit you the best, dear visitor!
Sorry, at the moment there are no active exchanges with live offers to buy/sell Ether with fiat currencies in Nigeria. Our teams tries our best to add some ASAP!
Besides the abovelisted great exchanges, serving Nigeria and allowing domestic payments in Nigerian Naira among other countries and currencies, there are also very good international ones among the websites exchanging ethers. Hence if you need NGN|ETH exchange, please use the top list above. In case you are looking for other ways to purchase or cash-out Ether using USD, etc. or swap it with various coins and tokens, feel free to check this selection of top one highest-ranked ETH exchanges from all around the world:
By the way, exchanges that accept NG, but don't allow fiat payments there are also in this list. So, if you want to pay using a payment method from abroad (say, you are originally from another country and want to buy or sell ether using the bank account or local payment system from there) or if you are looking for an exchange for someone else, this list will work great for you! Of course, we can't know what is that country you are looking for, but we have two options for you, both good. You are welcome to either
Are you looking for the best place to buy ethers? Of course, you are! Our price comparison of exchanges is here to help, although the easiest way is to check the best offers right away @ ExchangeRates.Pro, feel free to compare yourself. Let us show you what banks and payment systems you can use to buy and sell ETH, based on your location and preferences.
At this moment, there are 22 offers to buy Ether in Nigeria. Our software is collecting the statistics about the popularity of specific local banks and payment systems. Usually, the top ones that are the most popular are also very convenient. Otherwise, why would these become so popular? You can choose any of these right away, please be our guest:
We've compared a lot of offers to find the top ones; right now we have 5 ways for you to purchase ether available worldwide. Enough to choose from, right? Please keep in mind that not all of these may be possible to pay with Nigerian Naira, the ones that will surely be good for the domestic currency are a little bit above. The top popular ways to purchase ETH crypto:
Even the greatest ETH HODL GANG members sometimes have to sell some of their precious coins. It's alright, everyone does it sometimes and we are here to help! We know you want to find the buyer which will give you the highest price, there are such ones at our platform — check ExchangeRates.Pro now to find the highest rate to sell ethers to Nigerian Naira and 152 more local currencies! There are various opportunities to swap your coins to hard cash, we list the most requested ones below.
There are currently 20 opportunities to cash out your ether coins in NG. You'd likely need to out-exchange the crypto to pay for some local expenses, shopping, etc. It's reasonable to choose the safest and most comfortable option — a local bank you are using, your preferred payment system or cash in your city. Here is our top list of the ways other people in Nigeria prefer to exchange ether to fiat:
Sometimes you may need to transfer the money to another country. If you are holding ETH, it makes sense to exchange some of these coins to the currency of that country. We can't know where exactly you would like to send the funds, so we will show you the most requested banks and payment systems worldwide you can send the transfer to. There are totally 3 options to out-exchange the eth to fiat; the most frequently used banks, money transfer operators and global payment systems are:
Did you know that it's possible to exchange ETH to 48 other cryptocurrencies? It's possible to convert Ether to/from 98% of crypto coins supported @ ExchangeRates.Pro. Some of these are really great ones (we don't list useless coins and tokens at our website), that's why we've prepared a list of exchange opportunities available. There are totally 336 swap possibilities with ETH and other coins and tokens. Coin to coin exchanges are safe, easy and beneficial when you are using our service, don't worry! Feel free to get all the best rates to swap ETH with other cryptos @ ExchangeRates.Pro right away or refer to the list of most highly demanded exchange directions first: