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OMG Network to Nigerian Naira Converter and calculator

Convert 1OMG Network (OMG) to Nigerian Naira (NGN) equals ₦ 593.58 | Bitget
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Last updated 2023/09/01 02:23:05 (UTC+0)Refreshrefresh
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Bitget converter offers real-time exchange rates, allowing for easy conversion of OMG Network(OMG) to Nigerian Naira(NGN). This is the real-time data. The current conversion shows 1 OMG at a value of 1 OMG for 593.58 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.

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

OMG to NGN conversion rate trend

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In the past 1D, OMG Network has changed -4.31% to NGN. Based on the trend and price charts, OMG Network(OMG) has changed -4.31% to NGN while Nigerian Naira(NGN) has changed % to OMG in the last 24 hours.

Conversion rate comparison of various exchanges

ExchangePriceMaker / Taker FeeTradable
Bitgethot-iconBest
₦593.72
0.0003% / 0.0004%vip-iconVIP
Binance
₦591.47
0.1000% / 0.1000%
Yes
OKX
₦594.17
0.080% / 0.100%
Yes
Huobi
₦594.17
0.1000% / 0.1000%
Yes
Gate.io
₦592.52
0.1000% / 0.1000%
Yes
Bybit
₦592.97
0.1000% / 0.1000%
Yes
KuCoin
₦591.77
0.1000% / 0.1000%
Yes
Last updated 2024/06/14 01:00:20(UTC+0)

How to buy OMG Network

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Sign up on Bitget with your email address/mobile phone number and create a strong password to secure your account.
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Verify your identity by entering your personal information and uploading a valid photo ID.
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Buy OMG Network (OMG)
Use a variety of payment options to buy OMG Network on Bitget. We'll show you how.

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

Bitget P2P trading does not currently support direct buying of OMG with NGN. However, you can buy USDT in Bitget P2P trading first, and then buy OMG with USDT via Bitget spot market.
Merchants (trades/completion rate)PriceAmount/limit
Low to high
Payment methods
Zero fees
Action
K
KITAN33Verified Merchant
543 tradesCompletion rate 98.00%
1479 NGN
Amount287.16 USDT
Limit20000 - 424689.53 NGN
Bank Transfer
Buy
J
Joe-CompanionVerified Merchant
129 tradesCompletion rate 98.00%
1479 NGN
Amount1403.4 USDT
Limit200000 - 2075628.6 NGN
Bank Transfer
Buy
2
2mins_confirmationVerified Merchant
317 tradesCompletion rate 96.00%
1479 NGN
Amount680.1 USDT
Limit50000 - 1105000 NGN
Bank Transfer
Buy
F
Fast_Exchange _001Verified Merchant
587 tradesCompletion rate 95.00%
1479 NGN
Amount1538.18 USDT
Limit30000 - 2274968 NGN
Bank Transfer
Buy
D
DPeter1 Verified Merchant
2008 tradesCompletion rate 99.00%
1479 NGN
Amount2859.42 USDT
Limit50000 - 4229082.18 NGN
Bank Transfer
Buy

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

Bitget P2P trading currently does not support direct selling of OMG to NGN. However, you can first exchange OMG 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
m
major- banks Verified Merchant
144 tradesCompletion rate 87.00%
1477.2 NGN
Amount1000 USDT
Limit1000000 - 1477200 NGN
Bank Transfer
Sell
e
emalet001Verified Merchant
25 tradesCompletion rate 100.00%
1476 NGN
Amount100000 USDT
Limit1000000 - 70000000 NGN
Bank Transfer
Sell
Q
QUICK_SELLERVerified Merchant
190 tradesCompletion rate 97.00%
1475.01 NGN
Amount6740.16 USDT
Limit50000 - 9941800 NGN
Bank Transfer
Sell
B
BGUSER-MNJWKR6KVerified Merchant
36 tradesCompletion rate 95.00%
1475 NGN
Amount99847.22 USDT
Limit150000 - 70000000 NGN
Bank Transfer
Sell
B
BGUSER-ZYL80337Verified Merchant
153 tradesCompletion rate 80.00%
1475 NGN
Amount10000 USDT
Limit1000000 - 7000000 NGN
Bank Transfer
Sell

What factors influence the conversion rate of OMG Network to Nigerian Naira?

OMG Network to Nigerian Naira is falling this week.
OMG Network's current market price is ₦ 593.58 per OMG, with a total market cap of ₦ 83,247,311,260.86 NGN based on a circulating supply of 140,245,390 OMG. The trading volume of OMG Network has changed by -29.50% (₦ -7,561,209,599.33 NGN) in the last 24 hours. Last trading day, OMG's trading volume was ₦ 25,634,694,871.62.
Market cap
$55.31M
24h volume
$12.01M
Circulating supply
140.25M OMG

Conversion tables

The exchange rate of OMG Network is decreasing.
1 OMG is currently valued at ₦ 593.58 NGN , which means buying 5 OMG will cost ₦ 2,967.92 NGN . Similarly, ₦1 NGN can be traded for 0.001685 OMG, and ₦50 NGN can be converted to 0.08423 OMG, excluding any platform or gas fees.
The exchange rate of 1 OMG to Nigerian Naira has changed by -10.52% in the last 7 days. In the last 24 hours, the rate has fluctuated by -4.31%, reaching a high of 622.17 NGN and a low of 585.93 NGN . One month ago, the value of 1 OMG was ₦ 898.18 NGN , which represents a -33.90% change from its current value. Over the last year, OMG Network has changed by
-
196.32NGN
, resulting in a change of -24.84% in its value.

OMG to NGN

Amount
01:56 am today
0.5 OMG
296.79
1 OMG
593.58
5 OMG
2,967.92
10 OMG
5,935.83
50 OMG
29,679.16
100 OMG
59,358.32
500 OMG
296,791.61
1000 OMG
593,583.21

NGN to OMG

Amount01:56 am today
0.5NGN0.0008423  OMG
1NGN0.001685  OMG
5NGN0.008423  OMG
10NGN0.01685  OMG
50NGN0.08423  OMG
100NGN0.1685  OMG
500NGN0.8423  OMG
1000NGN1.68  OMG
Buy OMG Network for 1 NGN
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Today vs. 24 hours ago

Amount01:56 am today24 hours ago24h change
0.5 OMG$0.1972$0.2061
-4.31%
1 OMG$0.3944$0.4122
-4.31%
5 OMG$1.97$2.06
-4.31%
10 OMG$3.94$4.12
-4.31%
50 OMG$19.72$20.61
-4.31%
100 OMG$39.44$41.22
-4.31%
500 OMG$197.2$206.1
-4.31%
1000 OMG$394.41$412.19
-4.31%

Today vs. 1 month ago

Amount01:56 am today1 month ago1M change
0.5 OMG$0.1972$0.2984
-33.90%
1 OMG$0.3944$0.5968
-33.90%
5 OMG$1.97$2.98
-33.90%
10 OMG$3.94$5.97
-33.90%
50 OMG$19.72$29.84
-33.90%
100 OMG$39.44$59.68
-33.90%
500 OMG$197.2$298.4
-33.90%
1000 OMG$394.41$596.8
-33.90%
Buy OMG Network for 1 NGN
A welcome pack worth 1000 USDT for new Bitgetters!
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Today vs. 1 year ago

Amount01:56 am today1 year ago1Y change
0.5 OMG$0.1972$0.2624
-24.84%
1 OMG$0.3944$0.5249
-24.84%
5 OMG$1.97$2.62
-24.84%
10 OMG$3.94$5.25
-24.84%
50 OMG$19.72$26.24
-24.84%
100 OMG$39.44$52.49
-24.84%
500 OMG$197.2$262.43
-24.84%
1000 OMG$394.41$524.85
-24.84%

OMG Network price prediction

What will the price of OMG be in 2025?

Based on OMG's historical price performance prediction model, the price of OMG is projected to reach $0.6111 in 2025.

What will the price of OMG be in 2030?

In 2030, the OMG price is expected to rise by -18.00%. By the end of 2030, the OMG price is projected to reach $0.7721, with a cumulative ROI of +95.76%.
Buy OMG Network for 1 NGN
A welcome pack worth 1000 USDT for new Bitgetters!
Buy OMG Network now

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Buy OMG Network for 1 NGN
A welcome pack worth 1000 USDT for new Bitgetters!
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Buy OMG Network for 1 NGN
A welcome pack worth 1000 USDT for new Bitgetters!
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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 OMG Network 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 OMG Network 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 OMG Network 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 OMG Network for 1 NGN

A welcome pack worth 1000 USDT for new Bitgetters!

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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.