Luno, the global cryptocurrency platform, has announced that customers can now buy Ethereum on its exchange using Nigerian Naira. Previously, it was only possible to buy Ethereum in Nigeria using Bitcoin or through Luno’s instant-buy option.
Ethereum has become a very popular cryptocurrency in Nigeria. In fact, activity on cryptocurrency exchanges in Nigeria suggests there is higher Ethereum liquidity in the local market than in South Africa and that the 24-hour volume of cryptocurrency markets in Nigeria is highly competitive.
A recent survey of cryptocurrency awareness in Nigeria found that Ethereum was only second to Bitcoin as the most well-known asset among cryptocurrencies in Nigeria.
Thirty percent of people surveyed said they owned Ethereum, compared to 80 percent for Bitcoin, 23 per cent for Bitcoin Cash and 22 percent for Litecoin.
Ethereum is a public, peer-to-peer network or blockchain with its own cryptocurrency called Ether. Created by Vitalik Buterin in 2014, Ethereum was designed to be a platform on, which smart contracts can be built and run.