“Every improvement contributing to your outstanding experience is our daily motivation." - Remitano
“It's our goal to deliver new products that address the most common issues our customers face. We also want to ensure that they have the best trading experience possible on the platform. It's in keeping with this that we have introduced NGNR, our new fiat cash.
NGNR will speed up Remitano trades while also providing our users with the opportunity to earn extra income.”
First announced on December 17, 2021, the NGNR cash gives users in Nigeria access to instant P2P trades and tools to make money.
Remitano has put together a summary of the NGNR cash functions, along with some benefits of using it.
What is NGNR?
NGNR is Remitano’s cash designed exclusively for users in nigeria. Instead of the Naira, Nigerians can use the NGNR cash to buy and sell cryptocurrencies, such as BTC, ETH, XRP, LTC, USDT etc.
NGNR follows the same financial background as Naira and can thus be exchanged based on the same value. This means that one NGNR equals one NGN (1 NGNR = 1 NGN).
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What plans does Remitano have for the NGNR cash?
In addition to offering NGNR for faster transactions, Remitano intends to expand its usage in the following ways:
Offer 8 NGNR trading pairs
Remitano will introduce eight trading pairs to let users trade other coins for the NGNR cash. The pairs will include:
NGNR/BTC
NGNR/ETH
NGNR/USDT
NGNR/BCH
NGNR/LTC
NGNR/XRP
NGNR/BNB
NGNR/NGN
It's worth noting that users can trade the last pair, NGNR/NGN, without paying any fees.
3 main improvements NGNR brings to Remitano P2P
No Trade disputes: Instant trades would be possible under the new system. This way, the NGNR cash will eliminate all disputes between the buyer and the seller.
P2P trading speed: Users can trade NGN for NGNR or NGNR for NGN on the Remitano P2P platform, and receive money in their bank accounts instantly.
Withdrawal speed: NGNR addresses any delays in cash withdrawals because it is done through P2P. This eliminates the need for a middle man, allowing buyers to purchase NGNR directly from sellers on our platform.
What are the benefits of using NGNR?
What's in it for you? With NGNR, you get to:
- Conduct instant P2P transactions in nigeria.
- Make money online quickly and easily.
- Earn on a monthly basis.
- Reduce bank wait times and queues.
- Fewer trade disputes means a higher trust score for traders.
FAQs
Here are some insights and answers to the most common questions users ask about the NGNR Token.
How can I get NGNR?
You can get NGNR in 2 ways:
1. Buy NGNR from the Remitano P2P Exchange
Remitano users can create both “buy and sell” ads for the NGNR/NGN pair.
If you want to buy NGNR, you can easily click on a buy now. Pay the seller the naira equivalent of the NGNR you want and the seller will send the purchased NGNR to your Remitano wallet.
You may also put up your own BUY ad and wait for someone to sell to you.
2. Swap other coins to NGNR
To buy NGNR using the SWAP feature, you will need some USDT in your Remitano wallet. You can then exchange/swap some of your USDT to NGNR and your wallet will be INSTANTLY credited.
How can I use NGNR?
Once you have some NGNR cash in your Remiano wallet, you can use it for any of the following:
Buy other cryptocurrencies: As stated, Remitano will introduce 8 trading pairs— BTC/NGNR, ETH/NGNR, USDT/NGNR, BCH/NGNR, LTC/NGNR, XRP/NGNR, BNB/NGNR, and NGN/NGNR. This means that you can use NGNR to buy any of the traded cryptocurrencies, such as Bitcoin, Ethereum, Ripple, Litecoin, Tether, Bitcoin Cash, Binance Coin, and the Nigerian naira.
Swap to other coins: You can swap your NGNR to other coins on Remitano.
Hold: It’s totally fine if you don’t want to do anything with your NGNR cash. Simply let them sit in your Remitano wallet and withdraw to your bank by selling and receiving naira..
How can I store my NGNR?
NGNR cash is stored in your Remitano wallet. Remitano leverages extra security layers to protect your assets, ensuring that only you have access to them.
How can I make money with NGNR?
Besides P2P, Remitano provides users with two more options for earning money with NGNR cash.
1. Invest in a liquidity pool (AMM)
Liquidity is a decentralized tool developed by Remitano that provides users with several trading pairs, such as NGNR/USDT, ETH/USDT, BTC/USDT, BCH/USDT etc.
The Liquidity pool is an investment opportunity for all users. So rather than have all your assets in your trading portfolio, you can contribute liquidity in any of the pairs and earn profit daily from your contribution.
Users who contribute to the liquidity pool for any of the pairs will share a portion of the profit with Remitano.
Read about the liquidity pool feature HERE
2. Become a NGNR maker
An NGNR maker is someone who creates a BUY or SELL ad for the NGN/NGNR pair. A NGNR maker can earn anywhere from 10 USDT to over 1000 USDT per month depending on the volume of NGN/NGNR transactions conducted during that month.
Not sure how to create ads? Sit tight and learn from the guides below.
How to create an NGNR BUY AD & SELL AD
Go to the remitano.com/btc/ng
Step 1: Click Earn option at the top of the homepage.
Step 2: Pick NGNR agency
Step 3: Click on Create your buying ad.
Step 4: Fill out all the information as shown below and then click on create new advertisement.
*NB: To create a NGNR selling ad, the process is the same as creating the buying ad above. *
Remitano not only strives to create flawless solutions, but also prioritizes the needs of our customers, and thinks of ways to alleviate their greatest difficulties and pains. This project is one example of how we've done just that. We're particularly excited about the real, measurable benefits our nigerian community can gain from our work.
Need help or have questions?
Contact our 24/7 customer support team using the chat box in the bottom right corner of the screen.
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