Nitro Network EMI Plan: Introducing Buy now, Pay Later On NFM

The explosive growth of the Crypto and NFT industry has introduced users from all over the world to several ways to shop for their favourite Crypto or NFT collection while saving both time and money. With the integration of options like Buy Now, Pay Later (BNPL), the NFT audience is exposed to additional benefits. This is an important step because more than ever before, there is a need to have innovative measures put in place to allow a wider range of audience access Crypto and NFTs, and also facilitate inclusion. For the Nitro community, as previously announced, we would be introducing an EMI plan for the purchase of our NFMs. For those who have been wondering what the plan would look like and the benefits of the EMI plan, then this article is for you!

Benefits of the EMI Plan

At Nitro Network, one of the core things we value is our community, and as such, we always put our community’s best interest in everything we do. This was what inspired us to come up with the EMI plans for the purchase of our NFMs. We have listened to the feedback from our community members, and we have come up with an innovative way to help everyone own an NFM. The EMI plan makes the NFMs more affordable and reduces the entry barrier for everyone into Nitro’s ecosystem. Because owning an NFM gives access to use and earn from the IOT ecosystem. In a nutshell, the Nitro community stands to gain the following benefits from the EMI plan;

  1. NFM becomes affordable

How Does the EMI Plan Work?

The EMI plan is a simple and straightforward one, there are no grey areas at all. We’ll carefully outline how the plan works and how to purchase on EMI. We will guide you every step of the way.

The first thing is that you choose the tier you intend to purchase from, as earlier stated, it is vital to note that the plan requires that you pay ten per cent (10%) of the total NFM cost upfront. The remaining payments will be made in instalments over a period of 100 days. As soon as you make your purchase, your NFM automatically gets staked immediately, and your rewards start accumulating per EPOCH basis. However, rewards cannot be claimed until full payment is made. But you can view your purchased NFMs on our dashboard. It is also important to note that payments can be made ahead of the due date without attracting any cost. In the event that instalments are not paid, no extra cost will be incurred. Payment is flexible and instalment can be paid anytime, however, if payments are not made on or before the EMI tenure (100 days) elapses, NFM will not be minted and no refund will be provided for the same. We urge everyone to carefully read through the terms and conditions, and related documents carefully to avoid any form of issues.

Steps to buy NFM on EMI

We have carefully outlined a step-by-step guide for the purchase of the EMI plans, find the details below;

Step 1: Launch the portal —

Step 2: Click “Buy NFM”, it will ask you to connect your wallet (if not connected already). Please make sure you are connected to the Avalanche mainnet. Also, please review the guidelines.

connect your wallet
Connect to the Avalanche mainnet
EMI Guidelines

Step 3: Choose NFM, No. of NFMs, Choose the type of payment (USDT/USDC (on Avalanche Network)) and click “Calculate”

Step 4: Follow the following two steps to submit the transaction on mainnet

A. First Approve, and

B. Second Pay

A. Approve transaction submitted on Avalanche mainnet

Fill the purchase details
Approval in progress
Snowtrace txn id for approval

B. Once approved, click on “Pay Now”

Choose EMI
Payment in process
Payment success

Once confirmed, the transaction is submitted to Avalanche mainnet and NFM details to the application

Steps For EMI Instalment Payment

You can also Pay the remaining amount by clicking on the “Pay Now” button in the details section on the same URL

Step 1: Connect to the wallet, Connect to the Avalanche network

(Please make sure you are connected to the same wallet you connected while registering for the purchase of NFM on EMI)

Step 2: Click “Pay Now” to continue EMI payments or to do full payment

Step 3: Enter the amount to pay and click “Pay EMI”

You can either choose to pay full or partial payment here. Amount paid will be adjusted on the smart contract and add on to your pending balance and the summary will be shown accordingly.

Let’s say we are paying 100 USDT for EMI

Once confirmed, the amount will be refreshed and the balance will be shown

Once the full payment is done, NFM will be minted and sent to your wallet (same wallet used for purchasing NFM) and NCash rewards accumulated will be transferred to the same wallet.

Closing note

As we have emphasised above, the essence of the EMI plan for NFM purchase is born out of the value we have for our Nitro community. And as such, we have reduced the entry barrier to owning an NFM, to enable every member of the Nitro community to own at least an NFM from any of the Tiers. We urge every member of our community to take advantage of this opportunity to access Nitro’s IoT ecosystem by owning a stake in the tech of the future. We appreciate your support and contribution to the growth of the Nitro ecosystem, thank you all for sticking with us. Stay tuned!

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About Nitro Network:

Nitro Network brings affordable and secure IoT solutions for you. The company is building the largest decentralized private communication network (PCN) using the LoRaWAN IoT devices. These devices enable your gadgets to communicate using 3G/4G/5G technologies. This hyperconnected network will enable unlimited use cases in your everyday life. Participants of Nitro Network’s decentralized PCN are part of an inclusive ecosystem that they own, operate and earn from. Nitro Network’s PCN will be a game-changer and has its proprietary token, NCash, at its core. On Nitro Network, everybody wins!

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