NAIRX TRADING COMPETITION ON NAIJACRYPTO: DEPOSIT AND TRADE TO WIN NAIRX!
Updated: May 20
It is another opportunity to show-off those trading skills! Following the listing of NIRX on Naijacrypto.com, NIRX will open an exclusive trading competition at Nigeria's biggest custodian exchange.
40,000 NIRX to be shared among the top three (3) traders based on transaction volume. This exclusive event is open to all global crypto traders.
To participate, traders must register on www.naijacrypto.com, fund their account with Naira (NGN) OR BTC (tradable to NGN). The event will run over a 10-day period starting from Saturday 9 May,2020 & at conclusion; traders will be ranked according to trading volume generated.
1st Place 20,000 NIRX (70,000 NIRX trade vol)
2nd Place 13,000 NIRX (50,000 NIRX Trade vol)
3rd Place 7,000 NIRX (30,000 NIRX trade vol)
1. Trading Volume = Purchase Volume + Sell Volume
2. KYC verification is required.
3. Wash trades will not be considered.
4. Winnings to be awarded (X) days after the event.
5. The rights to final result interpretation is reserved to NaijaCrypto ONLY.
The NairaX project represents an innovative solution to two perplexing problems in the global e-commerce space: transaction costs and volatility. Global e-commerce platforms have essentially created a “re-sale niche” which privileges extensive supply networks that deliver goods through various mediums to the final consumer. This highly inefficient and expensive model has led to narrowing profit-margins and increased cost for both SMEs and consumers. The NairaX project offers a unique solution to this problem with an e-commerce model which leverages blockchain technology to significantly reduce arbitrage across various markets.
The volatility problem is a particularly sensitive one for SMEs which rely on stable forex markets for exchange of goods and services up and downstream the supply-chain. The scale of the problem is graphically captured by the NGN-USD price chart. Inflationary policies, market forces and slump in oil-prices have all contributed to a relatively volatile naira which in turn has led to market-price inflations and now poses an existential threat to Nigerian SMEs. NairaX proposes a solution to this problem with the NIRX which is usable for e-commerce transactions (unlike traditional stable-coins) whilst maintaining its fixed-ratio peg to the naira backed by NairaX’s in-house fiat reserves.
The Naijacrypto Factor
In keeping with our long-held vision, Naijacrypto continues to support smart innovative projects across the African Fintech space and beyond. Fostering strategic partnerships and relationships domestically and internationally remain key objectives on our agenda as we continue to promote ideals consistent with our core philosophy. As Nigeria’s premier cryptocurrency exchange, the development of a transparent and competitive market which meets emerging challenges is both an organizational goal as well as a prerequisite for achieving sustainable development.
As we continue to strive to meet the needs of our community, we lay emphasis on unique partnerships which offer our users opportunities to exploit new solutions to lingering market problems. The NairaX project fills an important void in the global e-commerce space.
Join Here !!
Author: Emmanuel Ohiri