How You Can Make Money From Bitcoin in Nigeria


To make money with cryptocurrency is simple, but the tactics aren't that simple, but this guide on how to make money with bitcoin will show you possible ways.
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You can make serious money with Bitcoin and other cryptocurrencies.

Do you want to make money money with Bitcoin?

Do you know you can work and earn money with Bitcoin cryptocurrency?

Currently, there are many ways to make money from bitcoin as the cryptocurrency price value keeps going higher every-time.

Bitcoin being the very first decentralized digital currency, it has been gaining acceptance since 2013. It also has a lot of highs in the market cap price.

This particular cryptocurrency has actually awoken the entire world media outfits, big investors and speculators towards how to earn money fast with bitcoins.

How do you make money from Bitcoin?

Buy And Sell Crypto For Profit

In this post, i am going to show you several ways you can actually use to achieve that aim of living a good life off bitcoin business (i.e. buying and selling).

Lots of people are already becoming billionaires from bitcoin involvement, so maybe you will be next big shot in the cryptocurrency world.

However, let’s head straight to the ways to make money with the very first cryptocurrency, Bitcoin. Shall we?

1. HODLing of Bitcoin

This is an act of buying and holding Bitcoin for a longer period of time to make a reasonable profit.

This crypto investment strategy is what big investors utilize to earn more money fast with huge financial capital to genuinely maximize their over-all crypto investment.

In other words, to HODL Bitcoin, or any cryptocurrency means to safely hold the asset in a safe crypto wallet for future profit making.

This strategy is always good for making passive income, without stressing yourself, or maybe, not even confident enough in your own chart reading skills with Bitcoin investment.

If you are interested in doing a long-term investment, where as you have little or no experience at all, see article on cryptocurrency mutual funds investment to learn how to make money with cryptocurrency.

To make money by investing in cryptocurency like Bitcoin, you need to buy the cryptocurrency, and keep some amount in a secured wallet to avoid theft, or hacks.

I recommend using an offline cold storage wallet to keep all your Bitcoin safe. Or you can purchase a hardware wallet instead, as they have HD features for high security.

2. Bitcoin Mining

You may have asked someone about how to invest in Bitcoin mining, but the problem is that you cannot make money with Bitcoin cloud mining these days, as many companies with access to funds have invested heavily in setting up mining farms.

This method of making money with BTC is quite confusing for beginners, because sophisticated devices and gadgets are required to make money with mining.

It also consumes a lot of resources (mainly electricity).

This is to say that, the whole mining process is done in a large scale operation.

Personally, I won’t advice you to invest in cryptocurrency mining, as it will require a lot of finance to acquire all instruments required.

I wrote my opinion on why you shouldn’t invest in crypto cloud mining, you can read the content here.

The hashing power depends on the processing speed of the mining pool and it is a hardware, which is even more expensive when you want to set it up in a large scale.

Popular mining pool in the market are:

  • Antpool
  • BTCC
  • SlushPool

So if you cannot afford to invest a lot of money in buying the hardware gadgets for mining bitcoin, i will suggest you follow the next point though.

3. Bitcoin Trading

If you really want to make huge money, or earn more Bitcoins into the ones you already have, then i will advice you learn how to make money with Bitcoin trading.

There are legit bitcoin investment platforms you can simply use to trade bitcoins to make money, even if you’re in Nigeria.

Bitcoin cryptocurrency trading is yet another way professionals who knows how to read charts, as well speculators who use to make money fast with bitcoin.

They invest some amount of bitcoin and trade it for other cryptocurrencies (Altcoins) to make money fast from the price volatility of other crypto coins against bitcoin.

This kind of trading can be done with a reputable investment site like Binance, as they are one of the fastest growing cryptocurrency exchange in the world currently.

They also slash your trading fees by 50% if you have the platform BNB coin in possession before entering any trade.

I will recommend you register an account on Binance, as the platform has a lower transaction fee compared to many other crypto exchange sites.

If you are going to use Binance for purchasing your first Bitcoin, read my guide on how to reduce the transfer and withdrawal fees.

You can also using CoinSwitch with is an exchange aggregator, which brings all the best price of your desired crypto coins from other places to one place for you.

It is also best for doing cryptocurrency arbitrage trading.

4. Brokering of Bitcoins

If you’re interested in how to make money buying and selling cryptocurrency (i.e. start a bitcoin business), this is basically the easiest way to make income for most beginners who wants to start bitcoin business in Nigeria.

The whole idea is simply buying and selling the bitcoin cryptocurrency using a P2P exchange that is trusted for its reputation over the years. Example, LocalBitcoins.

You can simply buy bitcoin at lower price and exchange it for fiat currency. But first, you will also need a cold wallet to store all your bitcoin investments as it’s not advisable to store all your bitcoins in an exchange platform.

Simply open a trading account with localbitcoins, but if you are in a country where LocalBitcoins doesn’t work, you can simply buy your first bitcoin with your credit/debit card from changelly and transfer it to your bitcoin offline wallet.

5. Gambling Online

If you are really good with gambling, this can actually be yet another way to make money with bitcoin. There are several websites that offer gambling services with bitcoin as their payment methods.

You can sign-up in such website and start your career in gambling on these kind of sites to earn bitcoin.

You can check out some websites like Starcoin, BetKings, vDice and Crypto Games. These sites has some many games you can play to make money with bitcoins. Also have it in mind that gambling is simply a game of chance.

6. Work for Bitcoin

Do you know you can even earn bitcoin by selling goods or services? Well, if you haven’t thought of that yet, just know that is widely possible in the cryptocurrency world.

Some of the things you can use to make more coins ranges from; cloths, gadgets, houses to cars in exchange for bitcoins.

If you want to know how to earn up-to 1 bitcoin fast, or other ways to make money from bitcoin fast, read about many ways to get or earn bitcoins online fast – many of the ways are without investment.

There are some popular sites to sell products and services in exchange for bitcoin, and they are Bitify, Purse, Bitgigs and Coinality.

I. Bitify

This is more like eBay, but the bitcoin version. It uses the auction system to sell items in exchange for bitcoins. Bitify also offers escrow services to ensure safe delivery of goods purchased by customers.

This is achieved by making sure goods are delivered safely to buyers before releasing bitcoin to the sellers. Use of escrow is optional for buyers though, but for sellers, a 2.5% fee on the total selling price is attached permanently.

II. Purse

Items can be sold at a discount on purse by individuals with Amazon accounts. This service is set up by Amazon online merchant company to service the purpose of buying and selling items with bitcoins.

III. BitGigs

This is an online job board where people can request and/or offer freelance jobs, all to be paid in Bitcoins. However, this site discloses no detail as to who owns or developed it, and many of its posts appear to be years old.

IV. Coinality

It’s a job board for the cryptocurrency world. The platform has two facets; Coinality.Com (the company’s original site) and Coinality.io (freelance marketplace featuring all their pre-screen developers).

7. Face-to-face Transactions

Bitcoin happens to bring in opportunity for many people to start accepting bitcoins as mode of payment. This is even one of the best way to earn cryptocurrency.

These days you can buy, or sell bitcoins to someone in real life by transferring from your wallet to another in exchange for fiat currency or another cryptocurrency entirely.

8. Bitcoin Scam Formats

Most times, making money also goes through the illegal way as well. Bitcoin crypto investment scam formats can also be used to make money with bitcoins.

If you read my post on how to become a successful yahoo boy that makes money with bitcoin, you will see that some couple of people are making money by scamming investors for bitcoin investment.

Note: In as much as am always referring to this way of making money, i still don’t advice one to follow through this way, to avoid the wrought of karma. You can use every other ways to make money with bitcoin, except this one in particular. Though your choice is yours, no matter what happens anyways.

Final Thoughts

Adoption of digital currency (i.e. Cryptocurrency) is looking bright and going at a gradual pace. Time will come when cryptocurrencies are going to be one of the major methods of payment.

This will also be the time when wanting to know how to make money using bitcoin be reasonably viable.

Note: In as much as there are some ways you can actually make money with bitcoin, have it in mind there are risks involved as bitcoin price value keeps fluctuating.

Even though, to make money with bitcoin currently, is not all that easy due to the market price fluctuations. And with the information above, you’ll be sure to start making some money with bitcoins.

Try to always safe guard your bitcoin investment footprint with any of the most secured free VPNs for cryptocurrency transactions.

If you can afford to spend extra money to secure your asset, you should get one of the bitcoin hardware wallets, as they are known to be the most secured wallets in the world.

Otherwise, use an offline software wallet with any device you’re using to access your cryptocurrency investment.

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