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NairaX Reviews - Latest NairaX Comments on ICO

The review says that NairaX plans to create a stable utility token called NIRX, but the question arises of how the project would endure this stability. Would the coin be pegged to fiat currency to avoid volatility? If so, what's the exact name of the currency, how NairaX is going to ensure the sufficient monetary reserves to back NIRX, and do they plan to broaden the scope of operations beyond Nigeria? All these questions remain unanswered at this point, so it NairaX's calling to invest in their project.

Bruuuh   October 18, 2019  

Hi Bruuuh, apologies I have just come across this amidst various publications about our project. To answer your questions, 1: Yes NIRX is pegged to Fiat, being the Nigerian Naira Fiat which is the default currency of Nigeria. 2. Yes we have the relevant funding to preserve and back our stablecoin product "NIRX". The funding is not company owned but pledged to us by our backers and other financial houses based in Nigeria. To date, we have been able to keep value up to standard. 3. We plan to broaden our scope outside Nigeria through borderless ecommerce. Firstly, we will begin with dominating Nigeria, then Africa. From here, we can spread our tentacles globally. I sincerely hope that I have attended to all your Qs? Should in case you have some more please meet us on Telegram (t.me/nairax) or send us an email (hello@nirxblock.com). Do have a great day sir.

Stanley C.A (Co-Founder, NairaX)   February 5, 2020

ICO investors have been burned more than a few times in the past, and the fact that there are no KYC requirements might raise a red flag among many of them. The team itself seems competent enough to pull an idea such as this off, and they have associated themselves with the project via LinkedIn. As for the vision, it is also quite good, especially when it comes to targeting a specific country first. Not to mention that stablecoins have an advantage over other cryptocurrencies when it comes to volatility and liquidity.

cReAtUrE   September 24, 2019  

Hi Creature, During our past ICO, we permitted a KYC procedure to monitor our especially large holders. Maybe you had a wrong report. Do have a great day.

Stanley C.A (Co-Founder, NairaX)   February 5, 2020

Additionally, while the soft cap is a bit high — the white paper and the project's roadmap appear to be realistic and well thought-out. All in all, it appears to be a good project, although we urge you to conduct your own, thorough research before choosing whether or not to participate.

d0na1d   August 14, 2019  

Thanks for the positive comments and encouragement. So far so good, we have been living up to expectations, satisfying our most valued holders and customers. We currently have a Holder's benefit program (HBP) in effect to reward holders. Thanks and do have a wonderful day.

Stanley C.A (Co-Founder, NairaX)   February 5, 2020

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