Ethereum (ETH) to Naira Exchange Rates


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Ethereum rates

Updated on Nov 27, 2020
Naira value :
₦199,703:06
+8.3566%
Dollar value :
$515:21
+7.8161%
Reverse rate | Ethereum to NGN
1ETH = 0.0000050074 NGN
Reverse rate | Ethereum to USD
1ETH = 0.0019409561 USD
Previous day comparison(Naira)
Change +₦15,401:35
%Change +8.3566%
Last 30 days High/Low(Naira)
Highest ₦199,703:06 on Nov 27, 2020
Lowest ₦45,680:00 on Oct 13, 2020
Previous day comparison (Dollar)
Change +$37:35
%Change +7.8161%
Last 30 days High/Low (dollar)
Highest $9,655:00 on Oct 13, 2020
Lowest $444:03 on Nov 10, 2020
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Ethereum is a kind of cryptocurrency that has gained more popularity all over the world, housing several other cryptocurrencies. Its native currency, the Ether is the quite remarkable being the second largest cryptocurrency. Since its inception in 2015 several persons have accepted this coin all across the globe.

Being a decentralised system, this type of currency is not under the control of a central authority making it different from Fiat currencies. However, Ethereum is also used for transactions, which are secured.

To send and receive this currency, individuals need a compatible wallet. These wallets takes care of the public and private addresses that are required for a successful transaction.

Through the process of mining, miners generates this currency as the reward for computing secured blockhains. The value of the Ether is dependent on the number of persons willing to use it, and this number keeps increasing daily. Thus, there are a lot of transactions, which gets recorded in a public ledger or blockchain.

The Ethereum blockchains are from a collection of Dapps, which runs on some set of instructions (smart contracts) that allows the transactions of Ether. It is important to note that the Dapps are basically an assemblage of the smart contracts working in a decentralized manner.

Based on its awesome design, the blockchains are resistant to changes from individuals, thanks to the cryptography technology. Also, Ethereum has an open source programming that makes it a visible platform. It is also an awesome platform that some persons put into good use for embedding messages into their transactions.

Chike Olisah

Chike Olisah is a Graduate of Economics with over 20 years working experience in the financial service sector. He has worked in research and marketing departments of five top commercial banks in Nigeria.

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