Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
base info Open Trade Exchange

Open Trade Exchange to Nigerian Naira Converter and calculator

Convert 1Open Trade Exchange (OTX) to Nigerian Naira (NGN) equals ₦ 112.61 | Bitget
OTX
OTX
swap
NGN
Last updated 2023/09/01 02:23:05 (UTC+0)Refreshrefresh
Want to display this on your website?
Bitget converter offers real-time exchange rates, allowing for easy conversion of Open Trade Exchange(OTX) to Nigerian Naira(NGN). This is the real-time data. The current conversion shows 1 OTX at a value of 1 OTX for 112.61 NGN . Since crypto prices can change rapidly, we suggest checking back for the latest conversion result.

NGN information

About the Nigerian Naira (NGN)

What Is the Nigerian Naira (NGN)?

The Nigerian Naira is the official currency of Nigeria, a country in West Africa. The Naira is symbolized by ₦ and has the currency code NGN. One Naira is divided into 100 Kobo. As Africa's largest economy, Nigerian Naira plays a crucial role both domestically and in the African financial landscape. The Nigerian Naira is the sole legal tender in Nigeria, and it is used for all transactions within the country.

The Nigerian Naira is issued by the Central Bank of Nigeria (CBN), which is the sole issuer of legal tender money throughout the Federal Republic of Nigeria. The CBN is responsible for the design, production, and distribution of the currency, as well as for implementing monetary policy and maintaining the value of the Naira.

What Is the History of NGN?

The Nigerian Naira, introduced on January 1, 1973, marked a significant milestone in Nigeria's economic history, replacing the Nigerian pound at a rate of 2 Naira for 1 pound. This transition signified Nigeria's shift from the British pound sterling to a distinct and independent decimal currency system. The name 'Naira' was derived from 'Nigeria', symbolizing the nation's sovereignty in monetary matters. The initial series of banknotes and coins were the first to be issued by an independent Nigeria, with the coins being the last to feature Queen Elizabeth II, reflecting the country's colonial history.

Notes and Coins of NGN

The Nigerian Naira (NGN) comprises a variety of coins and banknotes, each with distinct values and designs. Coins in circulation include denominations of 50 Kobo, 1 Naira, and 2 Naira. Banknotes are issued in denominations of ₦5, ₦10, ₦20, ₦50, ₦100, ₦200, ₦500, and ₦1000.

What Is eNaira?

The eNaira is the first African central bank digital currency (CBDC). Launched on October 25, 2021, by President Muhammadu Buhari, the eNaira is issued and regulated by the Central Bank of Nigeria (CBN). It operates as a legal tender, just like physical Naira, but in a digital form, maintaining a one-to-one value with the traditional Naira. The eNaira aims to enhance financial inclusion, improve payment efficiency, and facilitate seamless cross-border transactions. It operates on a blockchain network, allowing peer-to-peer transactions without intermediaries, distinguishing itself from decentralized cryptocurrencies like Bitcoin by running on a private blockchain controlled by the CBN. Users access the eNaira through digital wallets, with transactions promising speed, reduced costs, and increased convenience.

Is NGN Pegged to GBP?

No, the Nigerian Naira (NGN) is not pegged to the British Pound Sterling (GBP). The Naira operates on a floating exchange rate system, where its value is determined by market forces based on supply and demand in the foreign exchange market.

Historically, Nigeria used the British Pound Sterling during its time as a British colony and for some years after gaining independence. However, in 1973, Nigeria introduced the Naira to replace the Pound Sterling and established its own monetary system. Since then, the Naira has not been pegged to the Pound Sterling or any other foreign currency but has been subject to fluctuations in the international currency markets.

Is NGN a Stable Currency?

The Nigerian Naira (NGN) has historically faced challenges regarding stability. The Naira had been experiencing significant fluctuations, largely due to factors such as political instability, economic challenges, and fluctuations in oil prices, which is a major revenue source for Nigeria. For instance, in 2021, the official exchange rate of the Naira to the US Dollar was around 380 NGN to 1 USD, while the parallel market rate was much higher, around 475 NGN to 1 USD. In June 2023, the Naira fell 23% in a day to a rate of ₦600 to US$1. This discrepancy indicates ongoing challenges in achieving currency stability.

Show more
Bitget crypto-to-fiat exchange data shows that the most popular Open Trade Exchange currency pair is the OTX to NGN, with for Open Trade Exchange's currency code being OTX. Use our cryptocurrency calculator now to see how much your cryptocurrency can be exchanged for NGN.

OTX to NGN conversion rate trend

1D7D1M3M1YAll
In the past 1D, Open Trade Exchange has changed -14.83% to NGN. Based on the trend and price charts, Open Trade Exchange(OTX) has changed -14.83% to NGN while Nigerian Naira(NGN) has changed % to OTX in the last 24 hours.

Conversion rate comparison of various exchanges

ExchangePriceMaker / Taker FeeTradable
Bitgethot-iconBest
₦112.61
0.0200% / 0.0320%vip-iconVIP 7
Last updated 2024/07/10 09:21:22(UTC+0)

How to buy Open Trade Exchange

buy-coin-step-0-img
Create Your Free Bitget Account
Sign up on Bitget with your email address/mobile phone number and create a strong password to secure your account.
buy-coin-step-1-img
Verify Your Account
Verify your identity by entering your personal information and uploading a valid photo ID.
buy-coin-step-2-img
Buy Open Trade Exchange (OTX)
Use a variety of payment options to buy Open Trade Exchange on Bitget. We'll show you how.

Buy OTX (or USDT) for NGN (Nigerian Naira) offers

Bitget P2P trading does not currently support direct buying of OTX with NGN. However, you can buy USDT in Bitget P2P trading first, and then buy OTX with USDT via Bitget spot market.
Merchants (trades/completion rate)PriceAmount/limit
Low to high
Payment methods
Zero fees
Action
T
Timmy_AsapVerified Merchant
3803 tradesCompletion rate 100.00%
1522.22 NGN
Amount5 USDT
Limit1500 - 1500 NGN
Bank Transfer
Buy
T
TheBullTraderVerified Merchant
1428 tradesCompletion rate 98.00%
1541.5 NGN
Amount24.28 USDT
Limit23000 - 23000 NGN
Bank Transfer
Buy
A
AbbyTrade_04Verified Merchant
653 tradesCompletion rate 93.00%
1555 NGN
Amount141.09 USDT
Limit15550 - 46650 NGN
Bank Transfer
Buy
A
AmeerShinkafiGolden merchantVerified Merchant
207 tradesCompletion rate 100.00%
1555.99 NGN
Amount25.42 USDT
Limit1200 - 68074.56 NGN
Bank Transfer
Buy
A
A_H_YGolden merchantVerified Merchant
2110 tradesCompletion rate 98.00%
1556 NGN
Amount79.28 USDT
Limit10000 - 1223264.96 NGN
Bank Transfer
Buy

Sell OTX (or USDT) for NGN (Nigerian Naira) offers

Bitget P2P trading currently does not support direct selling of OTX to NGN. However, you can first exchange OTX for USDT in the Bitget spot market, and then sell USDT to NGN in Bitget P2P trading.
Merchants (trades/completion rate)PriceAmount/limit
High to low
Payment methods
Zero fees
Action
B
BGUSER-Y6PSS6ZNVerified Merchant
1 tradesCompletion rate 50.00%
1556.3 NGN
Amount100000 USDT
Limit2000000 - 75000000 NGN
Bank Transfer
Sell
F
Fastpayer01Verified Merchant
574 tradesCompletion rate 100.00%
1556.11 NGN
Amount100000 USDT
Limit1000000 - 75000000 NGN
Bank Transfer
Sell
s
shaf33uVerified Merchant
873 tradesCompletion rate 100.00%
1556.1 NGN
Amount98800.1 USDT
Limit200000 - 75000000 NGN
Bank Transfer
Sell
B
Brevado_GlobalVerified Merchant
229 tradesCompletion rate 96.00%
1556.1 NGN
Amount100000 USDT
Limit500000 - 75000000 NGN
Sell
F
FrankMadridVerified Merchant
50 tradesCompletion rate 100.00%
1556.1 NGN
Amount7000 USDT
Limit500000 - 10892700 NGN
Bank Transfer
Sell

What factors influence the conversion rate of Open Trade Exchange to Nigerian Naira?

Open Trade Exchange to Nigerian Naira is falling this week.
Open Trade Exchange's current market price is ₦ 112.61 per OTX, with a total market cap of ₦ 0 NGN based on a circulating supply of -- OTX. The trading volume of Open Trade Exchange has changed by +140.05% (₦ 7,686,594.34 NGN) in the last 24 hours. Last trading day, OTX's trading volume was ₦ 5,488,413.42.
Market cap
$0
24h volume
$9.37K
Circulating supply
0 OTX

Conversion tables

The exchange rate of Open Trade Exchange is decreasing.
1 OTX is currently valued at ₦ 112.61 NGN , which means buying 5 OTX will cost ₦ 563.03 NGN . Similarly, ₦1 NGN can be traded for 0.008880 OTX, and ₦50 NGN can be converted to 0.4440 OTX, excluding any platform or gas fees.
The exchange rate of 1 OTX to Nigerian Naira has changed by -61.32% in the last 7 days. In the last 24 hours, the rate has fluctuated by -14.83%, reaching a high of 132.56 NGN and a low of 112.61 NGN . One month ago, the value of 1 OTX was ₦ 1,425.41 NGN , which represents a -92.10% change from its current value. Over the last year, Open Trade Exchange has changed by
+
112.61NGN
, resulting in a change of --% in its value.

OTX to NGN

Amount
09:21 am today
0.5 OTX
56.3
1 OTX
112.61
5 OTX
563.03
10 OTX
1,126.07
50 OTX
5,630.34
100 OTX
11,260.68
500 OTX
56,303.42
1000 OTX
112,606.84

NGN to OTX

Amount09:21 am today
0.5NGN0.004440  OTX
1NGN0.008880  OTX
5NGN0.04440  OTX
10NGN0.08880  OTX
50NGN0.4440  OTX
100NGN0.8880  OTX
500NGN4.44  OTX
1000NGN8.88  OTX
Buy Open Trade Exchange for 1 NGN
A welcome pack worth 1000 USDT for new Bitgetters!
Buy Open Trade Exchange now

Today vs. 24 hours ago

Amount09:21 am today24 hours ago24h change
0.5 OTX$0.04005$0.04702
-14.83%
1 OTX$0.08009$0.09404
-14.83%
5 OTX$0.4005$0.4702
-14.83%
10 OTX$0.8009$0.9404
-14.83%
50 OTX$4$4.7
-14.83%
100 OTX$8.01$9.4
-14.83%
500 OTX$40.05$47.02
-14.83%
1000 OTX$80.09$94.04
-14.83%

Today vs. 1 month ago

Amount09:21 am today1 month ago1M change
0.5 OTX$0.04005$0.5069
-92.10%
1 OTX$0.08009$1.01
-92.10%
5 OTX$0.4005$5.07
-92.10%
10 OTX$0.8009$10.14
-92.10%
50 OTX$4$50.69
-92.10%
100 OTX$8.01$101.38
-92.10%
500 OTX$40.05$506.9
-92.10%
1000 OTX$80.09$1,013.81
-92.10%
Buy Open Trade Exchange for 1 NGN
A welcome pack worth 1000 USDT for new Bitgetters!
Buy Open Trade Exchange now

Today vs. 1 year ago

Amount09:21 am today1 year ago1Y change
0.5 OTX$0.04005$0.00
--
1 OTX$0.08009$0.00
--
5 OTX$0.4005$0.00
--
10 OTX$0.8009$0.00
--
50 OTX$4$0.00
--
100 OTX$8.01$0.00
--
500 OTX$40.05$0.00
--
1000 OTX$80.09$0.00
--

Open Trade Exchange price prediction

What will the price of OTX be in 2025?

Based on OTX's historical price performance prediction model, the price of OTX is projected to reach $0.4143 in 2025.

What will the price of OTX be in 2030?

In 2030, the OTX price is expected to change by -6.00%. By the end of 2030, the OTX price is projected to reach $0.6059, with a cumulative ROI of +656.55%.
Buy Open Trade Exchange for 1 NGN
A welcome pack worth 1000 USDT for new Bitgetters!
Buy Open Trade Exchange now

Bitget Earn

A safe, convenient, and professional platform to maximize your crypto asset profits.
Coin

APR

Action
Buy Open Trade Exchange for 1 NGN
A welcome pack worth 1000 USDT for new Bitgetters!
Buy Open Trade Exchange now
Buy Open Trade Exchange for 1 NGN
A welcome pack worth 1000 USDT for new Bitgetters!
Buy Open Trade Exchange now

Latest coin listings on Bitget

New listings

FAQ

What is a cryptocurrency calculator?
A cryptocurrency calculator enables users to convert various digital currencies into different world currencies according to the current exchange rate.
How does a cryptocurrency calculator work?
A cryptocurrency calculator fetches real-time values from digital currency exchange markets to convert between Open Trade Exchange and NGN.
How accurate is a cryptocurrency calculator?
Cryptocurrency calculators are generally highly accurate as they track real-time data from cryptocurrency markets, such as Open Trade Exchange and NGN. However, due to the high volatility of the cryptocurrency market, rates can fluctuate rapidly.
Can I trust the results of a cryptocurrency calculator?
While cryptocurrency calculators can provide a good starting point, remember that there might be slight differences in real-time trading due to factors such as time delay and trading platform discrepancies.
Can I use a cryptocurrency calculator for tax purposes?
Cryptocurrency calculators are useful for tax information, like coin values at given times. However, it's better to use tax-specific software or a professional for accurate reporting. Bitget Academy is a useful guide for cryptocurrency taxes, covering tax procedures, crypto transactions, effective planning, and different tax tools. Bitget prioritizes user experience, especially in optimizing tax management. With Advanced API and collaborations like Koinly, Bitget provides a smart, accessible platform for cryptocurrency trade and tax responsibilities.
Can a cryptocurrency calculator be used to convert one type of cryptocurrency to another?
If you want to know the value of Open Trade Exchange in NGN, cryptocurrency calculators can help you. But if you want to compare the worth of two different cryptocurrencies, you can use Bitget Convert. This tool simplifies the process of cryptocurrency conversion by allowing you to avoid multiple transactions or frequent transfers between wallets and exchanges. With Bitget Convert, you can seamlessly convert your cryptocurrencies in a user-friendly way.

Buy Open Trade Exchange for 1 NGN

A welcome pack worth 1000 USDT for new Bitgetters!

Buy Open Trade Exchange now
This content is being provided to you for informational purposes only, does not constitute an offer, or solicitation of an offer nor a recommendation by Bitget to buy, sell, or hold any security, financial product, or instrument referenced in the content, and does not constitute investment advice, financial advice, trading advice, or any other sort of advice. Data presented may reflect asset prices traded on the Bitget exchange as well as other cryptocurrency exchanges and market data platforms. Bitget may charge fees for the processing of cryptocurrency transactions which may not be reflected in the conversion prices displayed. Bitget is not liable for any errors or delays in content or for any actions taken in reliance on any content.