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How to make money from Bitcoin in Nigeria

Hmmm, you really want to know how to make money from Bitcoin? Bitcoin and gift cards have helped a lot of youths and adults made a fortune in Nigeria, the good news are you’re not left out; it is never too late to start. Like they say you, once you can imagine it, you can achieve it.

To be honest, this goes beyond imagination in the sense that you have to be consistent, work hard to get and keep your customers.

you need a lot of customers to make money from Bitcoin in Nigeria, and on the flip side you can make money from Bitcoin easily if you have a substantial capital to start with.

At this point I won’t waste much of your time as I have detailed article on how to trade your card on Paxful or sites like localbitcoins, both platforms are okay but I they are not 100% scam free so you must be very careful and make your choice wisely.

On the other hand, I know of a reputable exchange company I have personally used over time and they provide very awesome service, I buy Bitcoin from them and also trade gift cards with them.

I feel comfortable trading my cards with them for the sole reason that their rates is far better compared to Paxful or localbitcoins, so you know where to head to sell/buy your coins and stay safe while you trying to make money from Bitcoin.

This awesome company I’m talking about is called sloo xchnage , owned by the CEO of slooreviews, so your mind can be at peace trading with him unlike trading with faceless people from china and awaits their judgments in good fate.

Haven’t said all that, let me run you through some ways you can go about this business.

What is Bitcoin?

how to make money from bitcoin in Nigeria

Before you learn how to make money from Bitcoin, you must first know what Bitcoin is, so Bitcoin is a crypto currency, a form of electronic cash, it is decentralized digital currency without a central bank or single administrator.

it can be sent from user to user on the peer-to-peer sites or network without the need of intermediaries, Bitcoin was created in 2009 by a man named Satoshi Nakamoto, this man went incognito and is nowhere to be found since the creation of Bitcoin.

What is crypto currency?

how to make money from bitcoin in Nigeria

This is a Digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank, this shows Bitcoin is a crypto currency but there are many more crypto currencies too just that Bitcoin is the king of them.

Bitcoin is somehow complicated to those that doesn’t know much about it, but I tell you it is a nice innovation that has made life easier for millions of people and has also lifted thousand out of poverty, about a year and few months ago  sometimes in December 2017 Bitcoin has a nice bull run hitting all time high of $20,000 per coin, the growth was massive so people are comparing it to a kind of bubble and says it will crumble or burst like the dotcom (.com) boom.

how to make money from forex trading
Don’t miss out on this!!!

 With so many countries creating laws and restricting it citizens from participating in it, with china making new laws and placing ban on it almost every week, all the negative energy of shutting Bitcoin down caused panic and FUD  (fear, uncertainty and doubt) which leads to dump (situation whereby majority of the people owning Bitcoin and other crypto assets sold it off.

The price plummeted and fell to $3,000. The US governments try all they could to interfere with how the business is being conducted but they failed and Bitcoin keep waxing stronger.

Without further waste of time I will fast forward to explain the 4 ways you can make money from Bitcoin.

Bitcoin Mining

One of the numerous ways on how to make money from Bitcoin includes Mining, one need to join task with companies that owns mining equipment; this might be in form of paying a certain amount of money.

So many companies came up towards the end of 2017 with business idea or mining Bitcoin which fascinated a lot of people including myself but turn out to be scam at the end of the day.

So I will advise you don’t invest with any company claiming they are into Bitcoin mining at the moment, I’m not too sure but I don’t think there is any more Bitcoin to be mined again.

Investing

The second method of making money from Bitcoin is by investing into Bitcoin, how do you invest into Bitcoin? People like Bill Gates are rumored to have crypto asset which they don’t talk about in public, those that understand the power behind Bitcoin knows it will keep on growing so they bought some Bitcoin and keep it till it grows to their desired selling point.

To be an investor, large capital is needed, as at the time of writing this article Bitcoin is #3.9m Naira so to invest and make good profit one must own at least a coin of Bitcoin.

So if you have this kind of capital you can easily make money with Bitcoin by buying one or more Bitcoin coin and hold on to it till you are okay with the profit before you sell it off, N: B Bitcoin rises and fall so if you plan on investing into Bitcoin you must be ready to hold on for long time and don’t panic even if it falls because it will surely rise again (smile).

P2P Offline trading

Another way on how to make money with Bitcoin is by peer to peer offline trading, this method is a bit risky as scammers appears to be real and later do away with people’s coin (for vanishing), most people that fall for this trick are those looking for wow rate, so I will advise you know any one you want to sell your coin to.

So to engage in this form of trading you need links to guys that have small amount of coin to sell on daily bases, so this way you can buy them, pile it up and sell it off when you have up to $2,000 and above, with my calculation you should make up to #5,000 on $1,000 coin if you buy it in small quantity and pile it.

PRO Trading

how to make money from bitcoin in Nigeria

The last method and the most technical method on how to make money from Bitcoin is what I called the PRO trading, others might call it day trading, basically all you do here is trade the Bitcoin and make your cool cash.

To be able to trade the margin, you must be familiar with the technical analysis (TA) of Bitcoin so you can take advantage of it and know when exactly to buy and sell your Bitcoin to make meaningful profit.

One thing that is very important here too is large capital, while trading the margin on one Bitcoin; it is easy to 15-20k per day, so if you have like 5 Bitcoin then you can easily make #75,000-100,000 (NGN) daily.

To learn more about the technical analysis, check back this article for the link, I’m currently working on it. 

you will do well to like our Facebook page, follow us twitter, subscribe to our YouTube channel and stay very informed and updated , hey! do not forget to share this article on your social media platform, it takes just 2 sec

solomon julius" title="solomon julius">solomon julius |   8 months ago

I'm Solomon Julius known as Slooreviews a certified digital marketer, Slooreviews is no doubt the best business and tech review site. Check here from time to time to know which business you can go into and know which ones to stay away from.

4 responses to “How to make money from Bitcoin in Nigeria”

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