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Nigerian Naira (NGN) to CTC (CTC) Instantly

Purchase CTC (CTC) with Nigerian Naira (NGN) easily at Switchere and benefit from fast, secure transactions.

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About
CTC (CTC)

Creditcoin (CTC) is a foundational blockchain technology designed to address a critical gap in the global financial system: the lack of a universal, transparent credit history. Its primary objective is to create a decentralized network for a borderless credit market, specifically targeting the unbanked and underbanked populations. By recording loan performance on a public digital ledger, Creditcoin provides a mechanism for individuals and businesses to build a verifiable, on-chain credit history. This digital asset aims to bridge the divide between traditional finance and DeFi applications, fostering greater financial inclusion by making credit more accessible and transparent across the globe through its innovative Web3 infrastructure.

The core of the Creditcoin protocol involves linking real-world, off-chain loan agreements to its immutable blockchain. This process creates objective proof of creditworthiness that is not controlled by any single entity. The native utility token, CTC, is integral to the ecosystem's operation. It is used to pay for transaction fees required to record credit transactions, such as loan requests and repayments, on the chain. Furthermore, CTC can be utilized for staking to enhance the cryptographic security of the network. This unique approach to integrating real-world assets (RWA) in the form of private credit establishes a foundational layer for on-chain reputation and new financial products.

CTC (CTC)

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How to Buy CTC (CTC)

  1. Select currency menu

    Choose NGN to CTC Pair

    Select your preferred payment method and enter the amount.

  2. Crypto address page

    Enter Your CTC Wallet Address

    Provide your CTC wallet address and proceed with the payment.

  3. Confirmation page

    Receive Your CTC

    Complete the payment, and your CTC will be sent to your wallet.

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Frequently Asked Questions

  • What is the NGN/CTC trading pair and its significance?

    The NGN/CTC pair allows you to purchase Creditcoin (CTC) using the Nigerian Naira (NGN). Its significance lies in creating a direct fiat on-ramp for one of Africa's largest economies into the Creditcoin ecosystem. This facilitates access to Creditcoin's mission of building a blockchain-based credit history for the unbanked, leveraging real-world asset (RWA) tokenization of loans.

  • How does Creditcoin's technology support creating a credit history on the blockchain?

    Creditcoin operates a Proof-of-Stake blockchain designed to record loan performance data from fintech lenders, such as its partner Gluwa. When a borrower repays a loan, the transaction is recorded immutably on the Creditcoin ledger. This creates a transparent and portable credit history, turning verifiable repayment behavior into a digital asset that can be used to secure future credit, especially for the unbanked.

  • What fees are associated with purchasing CTC with NGN?

    Several fees may apply when you buy CTC with NGN. These can include: 1) Deposit fees for funding your exchange account with NGN via bank transfer. 2) Trading fees on the exchange, which can be a flat fee or a percentage of the trade value (maker/taker model). 3) Withdrawal fees, which are charged by the exchange when you move your CTC to an external digital wallet. Always check the fee schedule of your chosen platform before executing a blockchain transaction.

  • What are the common methods for buying CTC with NGN?

    Typically, you can buy Creditcoin (CTC) with Nigerian Naira (NGN) through cryptocurrency exchanges that support NGN deposits. The most common methods include direct bank transfers from Nigerian banks, using debit cards, or engaging in peer-to-peer (P2P) trading on an exchange. P2P platforms often provide more flexibility with local payment methods.

  • What KYC/AML compliance is needed for NGN to CTC transactions?

    When using a centralized cryptocurrency exchange as a fiat on-ramp, you must complete Know Your Customer (KYC) and adhere to Anti-Money Laundering (AML) regulations. For NGN deposits, this typically involves providing a government-issued ID (like a National Identification Number - NIN slip, driver's license, or passport) and often proof of address. This is a standard security measure for all regulated digital asset purchases.

  • How can I securely store my Creditcoin (CTC) after purchase?

    For secure trading and storage, it is highly recommended to move your Creditcoin (CTC) from the cryptocurrency exchange to a personal digital wallet where you control the private keys. Options include software wallets (desktop or mobile) or, for maximum security, a hardware wallet. Never share your seed phrase or private keys with anyone, and store your backup in a safe, offline location. This practice protects your digital assets from exchange-related risks.

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