Convert and Swap Tether USDT to Nigerian Naira NGN
USDT/NGN: 1 Tether equals NGN 1,542.95 NGN
Last update: 5:35 PM, December 22, 2024
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Tether is falling this week.
The current price of Tether is NGN 1,542.95 per USDT. With a circulating supply of 139,872,815,646.753 USDT, it means that Tether has a total market cap of NGN 215,827,505,657,377.62. The amount of Tether traded has fallen by NGN 47,705,034,544,901.73 in the last 24 hours, which is a 27.04% decrease. Additionally, in the last day, NGN 176,434,191,688,925.97 worth of USDT has been traded.
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About Tether
Tether (USDT) is an Ethereum token that is pegged to the value of a U.S. dollar (also known as a stablecoin). Tether’s issuer claims that USDT is backed by bank reserves and loans which match or exceed the value of USDT in circulation. Important note: at this time, Coinbase only supports USDT on the Ethereum blockchain (ERC-20). Do not send USDT on any other blockchain to Coinbase.
Tether (USDT) is a digital currency platform that was launched in 2014 with the aim of facilitating the use of traditional fiat currencies in a digital format. It seeks to provide a more modern approach to money, disrupting the conventional financial system. Tether has made strides by enabling customers to transact with traditional currencies across the blockchain, without the typical volatility and complexity associated with digital currencies. Tether's USD₮ token is a digital dollar, powered by blockchain technology, and is pegged 1:1 to the USD. This stablecoin provides individuals and organizations with a robust and decentralized method of exchanging value while using a familiar accounting unit.
Tether operates as digital tokens built on several leading blockchains, including Algorand, Avalanche, Bitcoin Cash’s Simple Ledger Protocol (SLP), Ethereum, EOS, Liquid Network, Omni, Polygon, Tezos, Tron, Solana, Kava, and Statemine. These transport protocols consist of open-source software that interfaces with blockchains to allow for the issuance and redemption of Tether tokens. Every Tether token is backed 100% by Tether's reserves, and Tether publishes a record of the current reserve assets, maintaining transparency.
Tether's unique feature is that its value is guaranteed to remain pegged to the U.S. dollar. This property makes Tether a safe haven for crypto enthusiasts during periods of high volatility, as they can park their portfolios in Tether without having to completely cash out into USD. Additionally, Tether provides a simple way to transact a U.S. dollar equivalent between regions, countries, and even continents via blockchain, without having to rely on a slow and expensive intermediary, like a bank or a financial services provider.
Tether, initially known as Realcoin, was launched in 2014 by Brock Pierce, Reeve Collins, and Craig Sellars. Brock Pierce is a renowned entrepreneur who has co-founded several high-profile projects in the crypto and entertainment industries. Reeve Collins was the CEO of Tether for the first two years of its existence and has co-founded several successful companies. Craig Sellars has been a member of the Omni Foundation for over six years and has worked in several other cryptocurrency companies and organizations. Over the years, Tether has faced controversies regarding the validity of their USD reserves, at times disrupting USDT’s price. Despite these challenges, Tether has continued to grow and expand its operations.
How Tether and Nigerian Naira differ
Tether (USDT) and Nigerian Naira (NGN) are both mediums of exchange, but they operate in fundamentally different ways. Tether is a digital currency, launched in 2014, that aims to incorporate the benefits of blockchain technology with the stability of traditional fiat currencies. It's a stablecoin, meaning its value is pegged 1:1 to the US dollar, providing a digital equivalent to the physical dollar. This feature aims to offer a safe haven for crypto enthusiasts during periods of high volatility. Tether operates on several leading blockchains, including Ethereum, Algorand, and Solana, among others, and every Tether token is backed 100% by Tether's reserves. On the other hand, the Nigerian Naira is the official currency of Nigeria, a traditional fiat currency controlled by the Central Bank of Nigeria. Unlike Tether, the value of the Naira is not pegged to any other currency and is subject to fluctuations based on economic factors such as inflation, interest rates, and government policies. While Tether seeks to provide a modern approach to money, the Nigerian Naira operates within the conventional financial system.
Frequently asked questions
How much is 1 Tether in NGN?
Right now, 1 Tether is worth about NGN 1,542.95.
How much USDT could I buy for 1 NGN?
Based on the current rate, you could get 0.000648 USDT for 1 NGN.
How much has the price of Tether changed?
Tether price has been declining. Since yesterday, the exchange rate of Tether has decreased. Since last month, the exchange rate of Tether has decreased. Since this time last year, the price of Tether has decreased.
How do I calculate or convert USDT to NGN?
You can use our USDT to NGN calculator at the top of this page to convert any amount of USDT to NGN. We've also created a couple of quick reference tables for the most popular conversions. For example, 5 NGN is equivalent to 0.0032 USDT. Inversely, 5 USDT will cost about NGN 7,714.77
How can I buy 1 Tether on Coinbase?
Tether is currently available to buy on Coinbase's centralized exchange. Check out our guide to get more detailed instructions on how to buy Tether.
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Buy Tether with Coinbase Wallet
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USDT to Nigerian Naira conversion tables
The exchange rate of Tether is decreasing.
The current value of 1 USDT is NGN 1,542.95 NGN. In other words, to buy 5 Tether, it would cost you NGN 7,714.77 NGN. Inversely, NGN 1.00 NGN would allow you to trade for 0.000648 USDT while NGN 50.00 NGN would convert to 0.032405 USDT, not including platform or gas fees.
In the last 7 days, the exchange rate has fallen by 0.03%. Meanwhile, in the last 24 hours, the rate has changed by 0.04%, and that the the highest exchange rate of 1 USDT to Nigerian Naira was NGN 1,543.50 NGN and the lowest 24 hour value was 1 USDT for NGN 1,542.32 NGN. This time last month, the value of 1 USDT was NGN 1,698.38 NGN, which is a 0.18% increase from where it is now. Looking back a year, Tether has changed by NGN 878.66 NGN. That means that in a single year, the value of Tether has shrank by 0.14%.
USDT to NGN performance history
Price 24H ago | Change 24H | Price 1W ago | Change 1W | Price 1M ago | Change 1M | Price 1Y ago | Change 1Y |
|---|---|---|---|---|---|---|---|
NGN 1,543.50 NGN | -0.04% | NGN 1,547.87 NGN | -0.03% | NGN 1,698.38 NGN | -0.18% | NGN 878.66 NGN | -0.14% |
USDT to NGN
Amount | Today at 5:35 pm |
|---|---|
0.5 USDT | NGN 771.48 |
1 USDT | NGN 1,542.95 |
5 USDT | NGN 7,714.77 |
10 USDT | NGN 15,429.55 |
50 USDT | NGN 77,147.75 |
100 USDT | NGN 154,295.49 |
500 USDT | NGN 771,477.46 |
1,000 USDT | NGN 1,542,954.91 |
NGN to USDT
Amount | Today at 5:35 pm |
|---|---|
0.5 NGN | 0.000324 USDT |
1 NGN | 0.000648 USDT |
5 NGN | 0.0032 USDT |
10 NGN | 0.0065 USDT |
50 NGN | 0.0324 USDT |
100 NGN | 0.0648 USDT |
500 NGN | 0.32 USDT |
1,000 NGN | 0.65 USDT |
Today vs. 24 hours ago
Amount | Today at 5:35 pm | 24 hours ago | 24H Change |
|---|---|---|---|
0.5 USDT | NGN 771.48 | NGN 771.76 | -0.04% |
1 USDT | NGN 1,542.95 | NGN 1,543.53 | -0.04% |
5 USDT | NGN 7,714.77 | NGN 7,717.63 | -0.04% |
10 USDT | NGN 15,429.55 | NGN 15,435.26 | -0.04% |
50 USDT | NGN 77,147.75 | NGN 77,176.31 | -0.04% |
100 USDT | NGN 154,295.49 | NGN 154,352.62 | -0.04% |
500 USDT | NGN 771,477.46 | NGN 771,763.11 | -0.04% |
1,000 USDT | NGN 1,542,954.91 | NGN 1,543,526.21 | -0.04% |
Today vs. 1 month ago
Amount | Today at 5:35 pm | 1 months ago | 1M Change |
|---|---|---|---|
0.5 USDT | NGN 771.48 | NGN 772.79 | -0.17% |
1 USDT | NGN 1,542.95 | NGN 1,545.59 | -0.17% |
5 USDT | NGN 7,714.77 | NGN 7,727.94 | -0.17% |
10 USDT | NGN 15,429.55 | NGN 15,455.88 | -0.17% |
50 USDT | NGN 77,147.75 | NGN 77,279.38 | -0.17% |
100 USDT | NGN 154,295.49 | NGN 154,558.75 | -0.17% |
500 USDT | NGN 771,477.46 | NGN 772,793.77 | -0.17% |
1,000 USDT | NGN 1,542,954.91 | NGN 1,545,587.53 | -0.17% |
Today vs. 1 year ago
Amount | Today at 5:35 pm | 1 year ago | 1Y Change |
|---|---|---|---|
0.5 USDT | NGN 771.48 | NGN 772.62 | -0.15% |
1 USDT | NGN 1,542.95 | NGN 1,545.23 | -0.15% |
5 USDT | NGN 7,714.77 | NGN 7,726.16 | -0.15% |
10 USDT | NGN 15,429.55 | NGN 15,452.32 | -0.15% |
50 USDT | NGN 77,147.75 | NGN 77,261.62 | -0.15% |
100 USDT | NGN 154,295.49 | NGN 154,523.24 | -0.15% |
500 USDT | NGN 771,477.46 | NGN 772,616.20 | -0.15% |
1,000 USDT | NGN 1,542,954.91 | NGN 1,545,232.40 | -0.15% |
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Buy Tether with Coinbase Wallet
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