Cryptocurrency

How to make money with Bitcoin in Nigeria ?

March 26, 2021

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How to make money with Bitcoin in Nigeria ?

In 2021, Nigeria became a global leader in bitcoin trade. As an online survey showed, over one third of Nigerians had taken part in trading bitcoin and other coins. Meanwhile, this data was still growing.

Why more and more Nigerians come to bitcoin and do not want to look back? Actually, it’s a big opportunity to make money with bitcoin.

Since 2018, CoinCola has started up Nigeria market. Now, lots of Nigerians are doing business here. According to their experiences, we have summarized a list of 5 ways you can make money through bitcoin.

  1. Peer to Peer Trading

P2P bitcoin trading is one of the most popular ways to earn money for Nigerians. In order to make profit, they buy it at low price and sell out at high price. As a result, those traders have done much trade for arbitrage.

However, how can they buy with low profit and sell it high? It boils down to two facts.

  • Trade across different cryptocurrency platforms. The traders buy coins from one OTC market (e.g. CoinColaand sell them to another platform with higher price. You can compare the prices of different platforms.
  • Some smart Nigerian traders do trade with Chinese traders. People in China are so confident in bitcoin. They buy plenty of bitcoin. Based on this, some traders buy bitcoin in Nigeria and sell it to Chinese.

In the meantime, if you want to trade in this way, CoinCola will be your best choice. CoinCola focuses on the market of Africa and Hong Kong. Also, lots of Chinese do business here. You can trade with them.

    2. Investing

Due to prices continue rising, investing bitcoin becomes easier. If you bought bitcoin last year and hold it, your digital wallet would grow over three times. This is for long-term investment.

On the other hand, because of price fluctuations, bitcoin is also worth short-term investment. The profit depends on your professional level of investment. You the best learn how to analyze bitcoin chart.

Exchange market is better to invest cryptocurrency. It shows price up and down. Like stock exchange, trades here got filled quickly. The only thing you need to do is choosing the right time to trade.

  1. Earning Bonus

If you are new to bitcoin, earning bonuses from cryptocurrency platform is a good way to start with. It is not only a good source of income but also an opportunity to learn trading. However, you may not be aware of that bitcoin bonus sent directly to your bitcoin wallet. In this guide, we remind you to pay attention to bitcoin wallet and check it. CoinCola always offers activities that provide bonuses to users.

  1. Accepting Bitcoin Payments

Because bitcoin is global and potential, more and more companies are aware of its advantage. They already accepted bitcoin as one of the payment methods. A few days ago, Elon Musk posted a Twitter:“You can now buy a Tesla with Bitcoin”. It is a trend that more and more people are embracing bitcoin in their daily lives.

Therefore, if you want to expand your business, you can also accept bitcoin payment, which will open another world for your business. Meanwhile, as ordinary people, you can hold bitcoin in your digital wallets. It can be one kind of payment options whether you are traveling or shopping.

  1. Bitcoin Mining

Bitcoin Mining is the process of creating new blocks and adding them to bitcoin blockchain network through solving cryptography puzzles. The men who mine new blocks are called miners. With each equation solved, miners are rewarded with bitcoin.

If you want to be a miner, it requires you to spend on mining equipment, electricity bills, and time.

In conclusion, because bitcoin is still evolving, lots of Nigerians join this ecology and want to grab the opportunity to make money. If you do not want to miss out on it, sign up now.

Sign up CoinCola Account