eNaira is a digital currency in Nigeria that is managed, issued, accepted and regulated by the Central Bank of Nigeria (CBN). The eNaira digital currency is similar to the Nigerian physical naira, and they both have the same value.
The digital currency, eNaira was launched on Monday, 25 October 2021 by the Federal Government of Nigeria. eNaira became the first digital currency to go live in Africa.
According to the Central Bank of Nigeria (CBN), you can use the digital wallet to send, spend and receive eNaira.
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What is eNaira all about?
eNaira is a digital currency issued by the Central Bank of Nigeria. This digital currency is currently a legal tender in Nigeria.
Just like the Naira, eNaira can be used the same way as cash. You can use it to buy and sell.
What is eNaira wallet?
eNaira wallet is a digital wallet used for storing users key which can be used to send and receive eNaira. The eNaira wallet is the analog of a physical wallet.
Without the eNaira wallet, you can’t perform any transaction.
How does eNaira Work?
How does eNaira Works? eNaira works in the same way with the physical Naira. Individual can be able to fund their eNaira wallet through their mobile banking app or directly from the bank.
Their is nothing like eNaira mining, because eNaira is officially a legal tender in Nigeria and not entirely a Cryptocurrency.
eNaira has no intriguing value for now and so, the eNaira price is the same with the Naira price. They both have the same value. The eNaira price is 410.62 against 1 Dollar.
- 1 eNaira equals 0.0024 United States Dollars
eNaira app download for Android and iPhone
The eNaira app is available on Android Play Store, and also available on iPhone App Store.
Download the eNaira app for Android here
Download the eNaira app for iPhone Version here
To login into your eNaira account, you have to open your eNaira Speed Wallet App.
Is eNaira a cryptocurrency
Is eNaira a cryptocurrency? No! eNaira is not entirely a cryptocurrency. eNaira is a Central Bank-backed digital currency and not a cryptocurrency like Bitcoin and ethereum.
There is a difference between Central Bank-backed digital currencies and a cryptocurrency. The difference is the way they are issued.
Central Bank-backed digital currencies are issued and regulated by the Central Bank, while cryptocurrencis are backed by corporations.
How to register for eNaira
- Download the eNaira speed wallet from Google Playstore or Apple App Store.
- Select a bank you will like to use.
- Fill in the form provided to you. You’re expected to input your First Name, Last Name, State of Origin, Email and Date of Birth.
- Your eNaira wallet is ready. You can now begin to send and receive.
The benefits of using eNaira
Below are the benefits of using eNaira.
- eNaira is a fast and reliable payment option
- The eNaira wallet on the app is more secured with encrypted technology
- It will help to boost Nigeria’s digital economy
- It provides easy payment transactions. Users can make payments by scanning a QR code.
Will eNaira replace cash or physical naira?
No! eNaira will not replace cash or the physical Naira. It will circulate alongside the Naira. However, eNaira may not maintain the same value with the Naira on the long run.
How to buy eNaira
You can buy and fund your eNaira wallet in two ways; through your bank app and with your cash through an eNaira verification agent.
How to buy eNaira using your bank app
- Open your mobile bank app
- Select pay bills or fund eNaira depending on your bank
- Click “fund eNaira wallet”
- Input the amount you want
- Click proceed.
How to buy eNaira with bank account via cash
If you want to buy an eNaira currency to fund your wallet, but don’t have a mobile bank app, here’s what to do.
- Visit any of your bank branch
- Ask for an eNaira verification agent.
- Meet the eNaira agent over the counter and request for an eNaira funding.
- Authenticate yourself and fund your eNaira wallet
Does eNaira yield any interest?
Does eNaira yield any interest? No, eNaira doesn’t have any interest attached to it. But you can still buy eNaira for other juicy benefits.
Is eNaira safe?
eNaira is safe and secured, you can send and receive funds Conveniently without any fear.
Is eNaira easily accessible?
Yes, easily accessible, fast and convenient. The eNaira wallet is user friendly which means, anyone can access and understand how it works.
Is my data protected on eNaira?
your data is protected on eNaira, so you don’t have to worry. However, your data is seen and regulated by the Central Bank of Nigeria (CBN).
What is the eNaira official website?
The official website of eNaira is www.eNaira.gov.ng, while the Official App is eNaira Speed Wallet.
Difference between eNaira and Naira
The difference between eNaira and Naira is simple. eNaira is a Central Bank-backed digital currency that can be used as a legal tender in Nigeria, while Naira is a physical currency in Nigeria.
The eNaira is different from Naira, but they both have the same value and issued by CBN.