If you really want to make money with cryptocurrency in Nigeria,, you really have to learn how the top cryptoprenuers do it…
Every day, millions of individuals in Nigeria seek to gain new knowledge and make money with cryptocurrencies.
Although they are hearing accounts of people who have used cryptocurrencies to raise their standard of living in Nigeria
Still, most people are unaware of how to buy, sell and trade cryptocurrencies to make money in Nigeria
Not to worry, we will discuss all that today…
Sit back and relax, this is what we will discuss today guys!
- Table of Contents show
Is crypto trading profitable in Nigeria?
Can I make daily profit in cryptocurrency?
How to make money with crypto with no investment
What is the best way to make money with crypto?
How to Make $100 a day trading cryptocurrency
How to make money with crypto 2023
and lots more…
TOP WAYS TO MAKE MONEY WITH CRYPTO IN NIGERIA
Okay, let’s get started with the main points…
Make Money With Cryptocurrency in Nigeria – DAY TRADING
One of the most well-liked ways to make money from cryptocurrencies is through day trading
And it can involve trading in futures or spots.
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Spot trading is purchasing when the price decreases and selling when the price increases
For a highly volatile coin that fluctuates sharply throughout the day,
In this situation, the trader may be seeking a margin of 2–5% for each trade with the intention of making up to 10 or more deals during the day.
When trading futures, the trader has the option of buying when the price is rising or selling when the price is falling.
In this case, the trader is essentially placing a bet on either direction of the market
However, if the market moves in the other direction of the trader’s prediction, the trader might lose their initial investment.
So it’s very important that you get the right training before trading with cryptocurrency
Make Money With Cryptocurrency in Nigeria – CRYPTO HODL
(HODL) a.k.a – “The Buy and Hold” long-term investing is one of the most well-liked strategies for making money with cryptocurrency in Nigeria.
This long-term investment strategy of “purchasing-to-hold” is the greatest choice for all sorts of crypto traders whether the traders are experienced or not
Here, the difficulty is preventing panic when others begin to do so.
All you have to do is decide which cryptocurrency you want to buy (ideally while its value is down)
Hang onto it, and then sell it when it reaches a price you find appealing.
You may start on platforms like Binance, with as little as $20, but you can earn more if you spend more and sell at the correct moment, which is never simple.
But also keep in mind that the greater your investment, the greater the danger.
This method of gaining money with cryptocurrency is long-term comparable to regular investing.
Make Money With Cryptocurrency in Nigeria – STAKING
On the blockchain network, cryptocurrency transactions are verified either by proof of work or proof of stake
You can stake your cryptocurrencies in a proof of stake network to make money in Nigeria monthly or annually
This option is best for anyone who has a good amount of crypto and doesn’t intend to sell it any time soon
For example…
If the cryptocurrency you purchased at $10,000, for example, is now worth $200,000
And if you stake the $200,000 at a 20% yearly premium
You’ll receive $2,000 per month as payment for staking the cryptocurrency for that time period.
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This is because some proof of stake networks may offer around 20% yearly
The best part is that you can make money from cryptocurrency in Nigeria just by staking on a monthly basis without having to sell the cryptocurrency during that time.
Then, when the staking or lock-up period is over
If the cryptocurrency has increased by, let’s say, 300%
You would have $600,000 and could re-stake it on a platform that even pays a higher fee
While your cryptocurrency potentially continues to increase in value.
This is still risky though, get your facts right before staking on any coin…
Make Money With Cryptocurrency in Nigeria – LOANING
You can also make money with cryptocurrency in Nigeria by loaning them out
Similar to staking, there are a number of decentralized cryptocurrency lending platforms in Nigeria
Where you can loan your cryptocurrency to borrowers via a smart contract and receive interest payments without ever having to sell the crypto or get to know or meet the person borrowing the cryptocurrency.
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In order to access the cryptocurrency you’re offering, which is often a stablecoin or a top coin
The borrower must first lock up cryptocurrency worth around 130% of the value of the cryptocurrency they want to borrow as collateral.
And that’s really safe and amazing,
No risk involved right here…
Make Money With Cryptocurrency in Nigeria – MINING
Before the invention of other ways to make money from cryptocurrencies
Mining was the only method to make money from Crypto, especially Bitcoin, here in Nigeria
It was essentially a technique of employing computers and sophisticated encryption to authenticate cryptocurrency transactions using a proof-of-work approach
With the miner receiving bitcoin for each successful transaction,
And by so doing you can make money with cryptocurrency in Nigeria
To put it simply, if you have a cryptocurrency mining device, you can join the network
Then Let it begin mining automatically, and every time it successfully completes a job
You will be rewarded with cryptocurrency that you can either save for future value or sell for quick profits.
Make Money With Cryptocurrency in Nigeria – AIRDROPS
An exchange, a cryptocurrency developer, or a blockchain platform may release free cryptocurrencies, also known as tokens
In order to raise awareness for a particular project users must often register in order to be eligible for an airdrop
A crypto-airdrop is a marketing method employed by crypto startup companies to deliver tokens to the wallets of their fans for free or in exchange for a small promotional service.
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These Airdrops gotten for free are meant to be kept till the crypto project gains much value, then they can be traded or sold to make money with cryptocurrency with no investment
Make Money With Cryptocurrency in Nigeria – FORKS
On occasion, a blockchain network will fork
This means that new coins will be created whenever a protocol is upgraded or changed.
If you had coins on the original blockchain, you will typically receive free new coins or tokens on the new blockchain network
Which you can use to trade, invest, or carry out other activities and make money with cryptocurrency in Nigeria
Make money with cryptocurrency in Nigeria – ARBITRAGE
Arbitrage is the practice of comparing prices of digital cryptocurrencies that are traded on several exchanges in Nigeria
This implies that while the price of bitcoin maybe $50,157 on one exchange platform…
It may be $50,178 on another exchange
At that precise moment because of how they are often purchased and sold varies between platforms
However, the costs of cryptocurrencies are often relatively comparable.
A cryptocurrency’s price could occasionally drop by over 20% on one exchange and then stabilize on another exchange
This enables traders to use the arbitrage system to make money with the “price difference” between the two platforms
They swiftly purchase crypto at the low-price exchange platform and transfer to another exchange, where they’ll sell at the high price to make a profit with cryptocurrency
Hence my crypto arbitrage idea…
You can purchase cryptocurrency at a discount on one market and sell it at a premium on another market
No risk is involved here, just profits…
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Make Money with Cryptocurrency in Nigeria – BLOCKCHAIN GAMES:
Do you know that you can also play to earn cryptocurrency in Nigeria from blockchain games?
Axie Infinity, Yebet, and similar games provide a crypto play-to-earn concept where users may earn cryptocurrencies as they play.
In this way, players may truly make money from their time spent playing video games online
By earning cryptocurrency that they can use for anything in real life.
For instance… I personally play Yebet Crypto Games
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Make money with cryptocurrency in Nigeria – CRYPTO BLOGGING
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You may establish a blog on cryptocurrencies to educate a large audience interested in learning more about crypto.
Also, you can make money with crypto blogging in Nigeria via advertising, affiliate marketing, online courses, and other sources.
Read this: How to Earn Dollars Blogging in Nigeria
Work As A Crypto, NFT, Or Blockchain Consultant
As more people and companies decide to enter the cryptocurrency, NFT, and blockchain field
They are eager to speak with or collaborate with expert advisors in Nigeria
By establishing a solid track record with cryptocurrencies, NFTs, or developing blockchain apps
You may position yourself as an industry authority and charge clients in cryptocurrencies for your services
Seems this is a brilliant idea you can adopt to make money with cryptocurrency in Nigeria
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Make Money With Crypto in Nigeria – CRYPTO FAUCETS
If you like watching YouTube videos and doing surveys online
Faucets are a simple method for you to acquire free cryptocurrency that you can quickly exchange for fiat cryptocurrency.
Here, you receive rewards for each movie you watch, survey you complete, or job/task you complete.
And by so doing you can make money with cryptocurrency in Nigeria
Make Money with Crypto in Nigeria – CRYPTO FUNDS
Another way to make money with cryptocurrency is by investing In Mutual Or Exchange Traded Funds that focus on Cryptocurrency
You may put your money in mutual funds or exchange-traded funds (ETFs) that invest in different platforms or technologies that support cryptocurrencies.
If interested, go to this link to read more about investing in crypto exchange-traded funds
Make Money with cryptocurrency in Nigeria – STOCK PURCHASE
This implies that you may invest in the stock of cryptocurrency companies and profit from the sector indirectly in Nigeria
Just like you can with mutual or exchange-traded funds.
Make money with Crypto in Nigeria by Working For A Crypto Organization
Depending on the knowledge you have acquired concerning cryptocurrencies
You will be able to work for a cryptocurrency company and receive payment in both fiat currency and digital currency in exchange for your services.
Here are Crypto jobs you can apply for
Make Money with Cryptocurrency by Getting Payments In Crypto
If you currently provide a variety of services to customers from several parts of the world and different business endeavors
You may decide to receive payments in fiat money in favor of cryptocurrencies.
And this is a simple tip to make money with cryptocurrency in Nigeria
Freelancing is a great way to work for clients and companies in top countries like The US, Canada, Australia, etc., and receive payments in crypto
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Make Money with Cryptocurrency in Nigeria – TRADING TOURNAMENTS
A number of cryptocurrency platforms, like Kucoin, Binance, and others regularly conduct competitions
Where the winner may take home hundreds of thousands or even millions of dollars worth of cryptocurrency.
You may take part and receive payment in cryptocurrency if you believe you can win some of these contests.
And this is another tip that you can adopt to make money with cryptocurrency in Nigeria
Make money with cryptocurrency in Nigeria – Produce your own NFTs:
The ultimate objective of minting your own NFT is for you to produce something that is distinctive, alluring, and lucrative
Because of the market’s high value, initiatives like Built With NFT and Satoshibles have been able to use NFTs’ widespread adoption to their advantage in Nigeria
Since there are no limitations on the NFTs format, It is safe to say that the only restriction on conceptualization is your imagination.
To get a sense of the neighborhood, go around NFT markets to find some ideas.
You’ll need your “product” (such as a song, picture, piece of digital art, or even actual physical goods, etc.)… and enough bitcoin to mint it in order to get started.
For storing payments, you’ll also want a bitcoin wallet.
You must keep in mind that the blockchain you select will also be important; the most well-known is the Ethereum blockchain.
The creation and activation of an account on OpenSea, which may cost you between $70 and $300 is an example of what you can do after you have an NFT.
You can then mint the NFT into that account for 10 to 30 USD.
After that, the platform will take a 2.5% commission from each sale.
Of course, there are additional online markets where you may sell NFTs some of which even provide free minting in which the buyer of the NFT bears the minting expense.
And by doing this you can make money with cryptocurrency in Nigeria
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Make money with cryptocurrency in Nigeria – DEFI APPS
Another lucrative way to make money with crypto is by building and launching Defi apps, commonly known as decentralized financial applications
They are essentially decentralized networks in Nigeria that house financial applications.
If users use your app, they will have to pay commissions in cryptocurrency.
DeFi’s focus is on individuals rather than the market.
Anyone may profit from cryptocurrency, right here in Nigeria
Recalling the objective of decentralized finance, the idea was to create a system that focuses on people rather than the market.
The same is true for crypto users: Whether you are using Bitcoin, its intention for usage is more important than how much you are making passively.
TOP CRYPTO EXCHANGE PLATFORMS IN NIGERIA
Many unregulated Bitcoin and Crypto exchangers are now active in the internet market.
As a result, it might be difficult for you to discover trustworthy crypto exchange services, especially in Nigeria
In addition to security, it is crucial to consider other important factors including payment options, costs, marketplace features, and platform handling ease.
To help clear up any confusion, a list of the top crypto exchange platforms available in Nigeria has been provided below.
So you can easily make money with cryptocurrency in Nigeria
BINANCE:
Binance is our #1 most reliable, trusted, and powerful crypto exchange company in the world
We highly recommend Binance for buying, selling, and trading cryptocurrencies
You can even save in dollars in Nigeria with Binance
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COINBASE:
This is the 2nd world’s largest cryptocurrency exchange platform after Binance.
KUCOIN:
This is the 3rd world largest cryptocurrency exchange platform.
CRYPTO.COM:
This is the top platform for buying new Crypto Coins on a fast-growing Nigerian Cryptocurrency Exchange
REMITANO:
This is the best platform in Nigeria to buy cryptocurrencies at a cheaper rate than other competitors in Nigeria
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QUIDAX:
Quidax is a cryptocurrency exchange platform that enables users to trade and manage digital assets with its business operating in Nigeria
MAKING MONEY WITH CRYPTOCURRENCY IN NIGERIA
Fear, uncertainty, doubt, also known as FUD, and the fear of missing out, or FOMO is what most people advise when trying to make money with cryptocurrency in Nigeria
In the cryptocurrency communities, these aren’t just amusing sayings; they need to be taken seriously.
You might consider them as signs that you are not as well-informed as you ought to be.
For this reason, both beginners and seasoned residents of cryptocurrency in Nigeria are frequently urged to conduct their own research.
Another thing to keep in mind is the abundance of internet resources available to you for assistance with cryptocurrency.
YouTube is a great platform to follow great leaders and channels that are highly focused on crypto topics
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Make money with cryptocurrency in Nigeria – CONCLUSION
You have seen that there are several ways to make money with cryptocurrency in Nigeria
And while this article may not have covered all of them…
It covers a lot of ground and will get you started on the path to making money with cryptocurrency in Nigeria
In this article, the key message is that success in making money with cryptocurrency depends on how skillfully you play your cards.
Contrary to popular belief, starting a cryptocurrency investment or trading business in Nigeria doesn’t have to be expensive, and the time is always right to start.
If you want to make money with cryptocurrency, of course, you can start with tiny amounts of your wages and save what you make for investment.
Since you have some freedom, your trading and investment techniques will depend on how quickly you want to make money with cryptocurrency in Nigeria
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