5 Reasons Why E-Naira is Better Than Cash

Digital currencies are sometimes digital representations of their physical counterparts. An example of such is the e-Naira. Well, read on to see 5 reasons why e-Naira is better than cash.

The e-Naira is built on a blockchain platform similar to those of cryptocurrencies. Therefore, each e-naira is unique and there can be no counterfeits. This eliminates the problem of checking if a Naira note is fake or not. Yeah, you don’t have to hold up that 1, 000 Naira note to the light to ascertain its quality. Now, how cool is that?

1. E-Naira can prevent the use of counterfeit notes

This is another excellent feature of digital currency. It can be used anywhere. The usage of the e-Naira isn’t limited by country borders. Be it in Australia, China, or America, the e-Naira can be used there. Finally, a suitable means of exchange for cross-country trade!

2. It's universally accessible

3. E-Naira is safer and secure

Most times, anything “electronic” has more security than its physical counterpart. The same goes for the e-Naira. For starters, the e-Naira will be offered via electronic means only. So, from the comfort of your home, you can get the e-Naira. Also, you don’t have to worry about thieves. The security of the e-Naira is quite a force to reckon with.

4. With e-Naira, there’s no need for physical storage and manual accounting

Since the e-Naira will exist in a purely digital form, physical storage and manual accounting can be done away with. What a relief! Not everyone likes to sit over account books making sure every figure tallies. But won't my e-Naira be accounted for? Of course but not just by you necessarily. Because, anything and everything involving the e-Naira will be done electronically, every single e-Naira will be accounted for automatically.

5. E-Naira transactions can be made easily, quickly and at a low cost

Long queues in the bank are definitely out of the question! The icing on the cake? Low transaction costs! Much lower than your conventional GT Bank will charge.