All you need to know about the E-naira wallet

Introduction

Have you been hearing about the term E-Naira and you wonder what on earth that could mean? Are you thrown into a fuss just because someone said they are using the E-Naira Wallet? Trouble no more, this article is going to expose you to the nooks and crannies of this latest trend in the country's currency world. This enaira is a central bank digital currency ( CBDC ) that was issue by central bank of nigeria as their legal tender. This enaira can be used just like cash and it has some storage that can hold it. All you might be thinking of about enaira has been complied in this article below.

What is E-naira

The most appropriate definition suitable for E-naira was generated as " E-naira is a digital currency issued by nigeria and also backed by the authority of Nigeria and is also a legal tender related to normal cash. E-naira is unlike Bitcoin and other cryptocurrencies because these cryptocurrencies does not not involve backing of established authority. E-naira is type of enaira that works purely for their users in electronic form other central bank money which will be provided by the bank and then it can only be used by bank only, no! E-naira doesn't wrongly, whenever you refer or work with enaira! Sure you will earn a lot into your wallet and withdraw it easily. 

What is E-naira wallet

The enaira wallet is free access to use whether to hold or withdraw money, the process can only done in enaira. It can also be exchangeable for other central bank with digital currencies, enaira can only made through enaira wallet which is the enaira storage that hold it.

How is it different from the normal wallet?

This enaira must different from others because it works great, this also was issued by CBN in line with section 19 of the CBN act.Enaira is also a straight liability of the Nigeria apex bank and each enaira also good and different. And the most reason why enaira is more interested to work with than those others currency crypto is that, it allow its users to use and other any bank they are using to the app to satisfy their money and withdraw easily to their bank accounts with fabulous transaction. Furthermore, you can reach h out the bank you choose when registering enaira when come into resolving failed transaction, you can reach them with their channel whether on email, Facebook and whatssap, the most very sure thing is that disputes will resolve in the next 48 hours you contact their services, you can also support to them via helpdesk@enaira.com.

The E-naira transaction and limitation

For you to go and understand more about enaira, you must first understand how to do transaction in enaira and what's the limitation of how much you can transfer in enaira, I thin that's what gives enaira much beauty! Enaira have ts step to transfer to another wallet account and limits on how much you can do. The transaction limits in enaira was created by CBN, the daily transfer is not more than N20,000.00 which we have tested in past days and N120,000,00 respectively this listed one is just for Tier 0 bit Tier 1 the daily transaction and balance limit speed is N50,000,00 and N300,000,00 respectively amd Tier 2 daily transaction is bin between N200,000,00 to N500,000,00 while The end Tier 3 daily transaction process and balance speed limit is N1,000,000,00 and N5,000,000,00. Respectively. After this their is no limit for merchants.

Enaira wallet and palmplay wallet

Here you will see how different between palmplay wallet and enaira wallet, palmplay wallet is trannsnet payment ghana, this wallet are provided by Ghana government community for them to provide their payment services, pamplay have different methods on how they works like before you can have access to sign into palmplay you must be over 18 years you must have the agents number, you can register two different number to your same wallet but enaira wallet is similar to bank account and it can be create in the same way. More about enaira have been explained forward.

 Enaira wallet and O-pay wallet

Enaira wallet and opay wallet is also different from each other to use because opay is a fintech company that provide mobile transaction to their agents with their mobike app, even though you can recharge from it transfer money to others and pay your bills also these can be dome with open wallet but enaira wallet is the most preferable one for me to choose because it work easily and it save time when doing transaction to withdraw your money in wallet.

Advantages of enaira

There are the most useful advantage for enaira and other benefits of enaira includes some inclusion of excluded people in the financial system and it is very easy to target social program for Nigerias, reduction of fraudulent transaction and some illegal money deal like, money laundering due to the unique ID of the eNaira.

Disadvantage of enaira

From our research we found zero disadvantage for this enaira, because it work peacefully and it is preferable than the other wallets in Nigeria, unless one or two implications there; if you Dont take note when you're creating your enaira account you might face problem when its come to transaction or withdraw money from your wallet.

Conclusion

We defined enaira as " The enaira wallet is free access to use whether to hold or withdraw money, the process can only done in enaira. It can also be exchangeable for other central bank with digital currencies, enaira can only made through enaira wallet which is the enaira storage that hold it. And in short the eniara serve as both medium of exchange and store of value that permit users to do better payment prospect in details transaction when compared to cash payments.