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Convert
Nigerian Naira (NGN) to ICON (ICX) Instantly

NGN NGN
ICX ICX
Buy ICON (ICX)

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

About
ICON (ICX)

ICON (ICX) is a decentralized network and layer-one blockchain designed to solve the critical issue of blockchain interoperability. Its core mission is to facilitate seamless cross-chain communication, allowing independent blockchains with different governance structures to interact without intermediaries. This vision of creating a "digital nation" is powered by its proprietary Blockchain Transmission Protocol (BTP), a chain-agnostic solution that enables the transfer of both value and data across connected networks. This makes ICON a fundamental piece of Web3 infrastructure, connecting disparate digital assets and dApps into a cohesive ecosystem.

The network is built on a high-performance blockchain engine called Loopchain and secured by a Delegated Proof-of-Stake (DPoS) consensus mechanism. In this system, ICX holders stake their tokens to vote for Public Representatives (P-Reps), who are responsible for validating transactions and governing the protocol. The native utility token, ICX, is central to the ecosystem's tokenomics. It is used for paying transaction fees, executing smart contracts written in Java, participating in on-chain governance, and earning staking rewards. Through its advanced technology stack, ICON provides a robust framework for building scalable, cross-chain DeFi applications and services.

ICON (ICX)

How to Buy ICON (ICX)

swipe Step-by-step guidance
card Easy credit card payments
btn Streamlined purchase process
  1. Step 1 illustration
    01

    Choose NGN to ICX Pair

    Select your preferred payment method and enter the amount.

  2. 02

    Enter Your ICON Wallet Address

    Provide your ICX wallet address and proceed with the payment.

  3. 03

    Receive Your ICON

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

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Frequently asked questions

  • What are the common methods to buy ICON (ICX) with Nigerian Naira (NGN)?

    The most prevalent method for converting NGN to ICX is through peer-to-peer (P2P) markets on major cryptocurrency exchanges. Due to local banking regulations, direct NGN deposits can be challenging. P2P platforms act as a fiat on-ramp, allowing users to securely trade with each other using Nigerian bank transfers, after completing necessary KYC/AML compliance checks.

  • What does ICON's Blockchain Transmission Protocol (BTP) mean for my ICX holdings?

    ICON's Blockchain Transmission Protocol (BTP) is a core feature enabling interoperability between different blockchains. For those holding ICX, this means the digital asset has greater utility, as it can potentially be used across a multi-chain ecosystem. BTP facilitates secure, decentralized communication and asset transfers, making the ICON network a hub for cross-chain decentralized applications.

  • How does ICON's Delegated Proof-of-Stake (DPoS) consensus work after I convert NGN to ICX?

    Once you acquire ICX tokens with NGN, you can participate in the ICON network's governance. Their DPoS system allows you to stake your ICX and delegate it to a Public Representative (P-Rep). These P-Reps are responsible for validating blockchain transactions and governing the network. In return for staking and delegating, you earn ICX rewards, contributing to network security and decentralization.

  • What kind of fees should I expect when trading the NGN/ICX pair?

    When trading NGN for ICX, expect several potential fees. On a P2P platform, the price quoted by the seller typically includes their premium. The exchange itself will charge a trading fee (maker or taker fee) for executing the order. Finally, when you withdraw your ICX from the exchange to a private digital wallet, you will pay a network fee, which is a standard blockchain transaction cost on the ICON network.

  • After a successful NGN to ICX trade, what is the most secure way to store my ICX tokens?

    For optimal security, it is highly recommended to move your ICX from the cryptocurrency exchange to a self-custody digital wallet. Options include ICON-specific wallets like Hana or a hardware wallet for cold storage. This practice of self-custody ensures that you, and only you, have control over your private keys and your digital assets, protecting them from exchange-related risks.
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