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All You Should Know About GTBank GT Coins

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All You Should Know About GTBank GT Coins

The wave of cryptocurrency fever sweeping through the whole world is all-encompassing it seems, as even traditional banking institutions are joining the bandwagon. In this case, GTBank has introduced its own cryptocurrency to join the long list of Cryptocurrencies in Nigeria.

The surfacing of altcoins lately can be well attributed to the fact that most are trying to mimic bitcoin. We hope they get as lucky as Bitcoins so people can start choosing them as an alternative to Bitcoin trading in Nigeria.

The Guaranty Trust Bank(fondly referred to as GTBank), one of the biggest banks in Nigeria, is reportedly dabbling into the cryptocurrency world. Tied to their 737 mobile services, they are distributing virtual coins referred to as GT coins as confirmed by several users of the service. The coins are credited to users account every time a transaction is made using the 737 service. Many a user have been wondering what exactly is the point and use of the coins. The 737 service is one of the most extensive mobile banking services in the country and it seems they are aiming to make it even bigger with this new layer of functionality being added to the service.

The GT coins are reportedly still in a testing phase as they are distributed to customers every time they make a transaction using the 737 service. It is reported that the GTBank is aiming to use the GT coins technology to facilitate business transactions rather than for personal use. This is not the GTBank’s first foray into crypto technology, however.

As at last year, the blockchain technology was used as a form of identity verification as it was incorporated into their GT tokens. The token generated a random code for users every time a transaction was made, quite similar to the TX code for bitcoin users. This made it impossible for duplicating of a transaction or unauthorized access to users’ account details. The token was said to use a 128-bit security encryption to protect transaction details. The token also allowed for instant international transactions and access to forex markets.

However, in furthering their claim as the first bank in the country to introduce cryptocurrency to the general public, the GTBank GT coins aim to further delve into and explore the financial benefits and opportunities available in cryptocurrency world as opposed to just identity verification by the GT tokens. Users of the bank have confirmed that the GT coins are still being distributed exclusively as part of the 737 service only. The GTBank has not officially made a statement on the GT coins but we hope they will soon, so we can know even more about what they aim to do with the GT coins.

That’s that on GTBank GT Coins.

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42 Responses
    1. sadiq rita

      Exactly. more information and clarification is required. No proper information and how one can collect the coins generated when you transact using 737.

      1. Oluwa

        You can only use the coin to buy airtime worth N1,000 across all networks in Nigeria. And be redeemed if you are using a gt internet banking. To get N1,000 airtime, all you need is 200 gt coins. I have 20 coins already, waiting for 180 more.

  1. Emperor

    How do one check the balance of the GTcoin that has been given ? I used the code 737 often and I usually see it saying you have been given 10GTcoins and so on …

    1. Obed Nwafor

      Each time you use 737 your added gtcoin is shown to you immediately once it is up 200 u can use it to buy 1000 naira airtime

  2. GBENGA AKANBI EMMANUEL. PHONE NO.07032799679.

    How do i access my gt coin? I have being trying to access it by 737app, but i could not, and anytime i transact by using 737, i notice gt coin being credited to my account.

  3. adeyemi

    How can I check my GT Coin account and also how can I found my GT Coin, pls I need to known more about GT coin, found with more explains. Thanks

  4. Peter

    Good day all. I too have being wondering of this GTcoins thing until while playing with my account online (internet banking platform) I saw GTcoins tab and Redeem GTcoins tab. On clicking the Redeem GTcoins tab, I found out I can purchase Airtime with it, but the minimum airtime I can purchase is N1000 mtn, glo, 9mobile, airtel and it requires 200GTcoins. Unfortunately, my GTcoins balance is not up to that. Stumbling on this forum, I felt it wise to contribute. If you do internet banking, you can check and see if you can redeem yours, but for now, I think it can be used for recharge card only as seen on my internet banking platform.
    Thanks.

  5. Umoru Alu

    Nice explanation but still not clear to details, why do they intend to use it a a business to the costumer and how is the costumer going to benefit from the so called business when the officially announce the use of the GTcoin. more details please.

  6. hero

    how to redeem your gtcoin value is simple, first if you have a good browser like chrome,Firefox and opera (I’m not sure of the mini) type in gtb in your search and click on the appropriate website of gtb,then logging into your internet banking. click on menu when your must have successfully logging, you will see REDEEM YOUR GT COIN,click on it and a drop down will appear showing how many coins you have. note that u must have a TOKEN HARDWARE cos there is a space where you will put the generate transaction code from d token. your airtime will be sent within 24hrs.

  7. Michael

    The GTCoins is pure scam. Whenever you use 737 you are told you have earned a number of coins, believe me if its 200 coins you will only see 20 credited to your account. Then end of the month they mysteriously take all your gtcoins stating you didnt use it, what right do they have taking away what you have earned. I am sure the gtcoins stolen from you are bound to appear in someone elses account probably the Managers. GT bank operates like criminals, i intend to close my account from such a cheating bank.

  8. Ibrahim

    If u r GTBANK customer and u earned gt coin when u use 737… Anytime u use another bank ATM u ll forfeit ur coin u have in ur account… Meaning when ever u earn the coin make sure u don’t use any other bank ATM aside GTBANK ATM Until u redeem ur coin…

  9. Jude

    I have been collecting 2000 every month from my redeemed coins. Its cool lose N50 for every transfer and gain N25 for doing up to 40 transfers. I think the coins expire every other month and is wiped out once you use your card on another bank ATM.

  10. EMMY

    IF YOUR GT COINS DISAPPEARED THAT MEANS YOU HAVE BEEN MAKING A WITHDRAWAL AT OTHER BANKS, IF YOU USE YOUR GT BANK CARD TO WITHDRAW FROM OTHER BANKS THEY WILL DEDUCT YOUR GT COINS..

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