How to make money trading bitcoin in nigeria

Do you want to make money money with bitcoin? Do how to make money trading bitcoin in nigeria know you can work and earn money with bitcoin cryptocurrency? You may want to learn how to make money with cryptocurrency market today! 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 currencyit has been gaining acceptance since It also has a lot of highs in the marketcap price. This particular cryptocurrency has actually awoken the entire world media outfits, big investors and speculators towards how to earn money fast with bitcoins. 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. Lots of people are already becoming billionaires from bitcoin involvement, so maybe you will be next big shot in the cryptocurrency world. Shall we? Be the first to get notified on the best latest airdrops and so much more to make money very well with cryptocurrency.

Bitcoin Exchange Types | Their Pro and Cons

Bitcoin, as a cryptocurrency, has been subject to mainstream debate for quite some time now. People analyze its past and speculate about its future for a wide variety of reasons — some people want to know the history of cryptocurrencies, others are curious about possible investment opportunities. Bitcoin was created back in by someone or some group of people known by the pseudonym of Satoshi Nakamoto. At the time that it saw the light of day, nobody had even heard of cryptocurrencies, let alone encountered one. Bitcoins infant and teenage years were pretty rough — it failed to gain significant traction and attention, even though its prices fluctuated for what at that time seemed quite a bit. No one was still wondering how to make money with Bitcoin. Needless to say, this was huge — everybody either stood with their chins reaching the floor or poured everything they had into Bitcoin — it seemed like an unstoppable force that kept on increasing its momentum every single day. So… How to make money with Bitcoin? People who often look at how to make money with cryptocurrency will probably know what the Bitcoin price chart looks like:.

How to earn on bitcoins?

Reasons behind this are speculated to be the built-up hype, lack of support for the blockchain, market manipulations and many, many more. Whatever the case might be, it is obvious that if nothing else, Bitcoin took a huge dive from which it is currently trying to recover. Anybody looking at how to make money with Bitcoin should probably keep these things in mind. So now that you know a couple of things about the rise and fall of Bitcoin, we can finally move into the money-making methods. Some methods work better or faster than others, but — generally — it depends on the person. This is a risky method, of course, but probably the simplest one to perform. There are a couple of types of such investors. Some people just buy a certain quantity of the coin and forget about it for a year… or ten. These people usually have no real intention to profit short-term — they often believe in the successful future of cryptocurrencies and hope that their investment now will one day bring them a tenfold profit. Another type of Bitcoin investors are the people who do loads of research, read all of the available predictions on how to make money with cryptocurrency and spend weeks analyzing data and statistics. These people tend to have a very specific time frame in mind — most of the time, they are looking to invest short-term and just need to know when to do it. Also, these investments tend to be smaller when compared to the long-term ones — after all, people invest having done a ton of research beforehand, but if their investment fails, they could just move on to the next time frame. It can make you huge amounts of money real fast or might drive you to the brink of debt.

“Do You Take Bitcoins?”

Yes, Bitcoin is the money of our generation and the future generations. Well, in the history of money, several object has been used to carry out transactions. Money in itself is any clearly identifiable object of value that is generally accepted for payment of goods and services and repayment of debts within a market or which is a legal tender. Bitcoin fulfills all of these. In the past, money has taken many forms like cowry shells, beads, precious metal, paper, and in our generation it is becoming digital in form of bitcoin and other cryptocurrencies. Bitcoin is digital money; this simply means that unlike the previous form of money, Bitcoin is not anything physical. It is not physical yet more real than any form of money earlier used. It exists on a technology called Blockchain which helps to store all the information and transactions about all the Bitcoin that ever exist. The information on Blockchain can never be destroyed or manipulated.

Why is bitcoin promising?

About The Author MakeMoney. NairaEx 5. Although relatively new, it has proven its worth to be in the top 10 because of its solid service. To exchange currencies like Neteller and Webmoney I go to Paxful and LocalBitcoins and make my choice depending on where I get a better deal, etc…. This is the simplest version but you have to take into account the technical and fundamental analysis of the direction of the price movement. Remitano 7. In it started an active campaign to break into the Nigerian market and has received tremendous adoption. Bookmark and come back everyday for new tips on making money. I fell in love with quidax when I discovered it in November , especially because of the speed with which it processes a withdrawal request. If you are looking for other ways to make money online , then read our guide: How to Make Money Online. Now you wait for the price of bitcoin to rise, after which you sell the bitcoins that you bought at a higher price. If you have carefully followed this post, you will see that the exchanges are not the same.

How To Make Money With Bitcoin In Nigeria — Investment — Nairaland

I have a good details video showing. I think you should also check naijacrypto. Its unique selling point is that jow has over payment methods to buy bitcoin. NairaEx 5. Visit Exchange. Friend’s Email Address. Bookmark and come back everyday for new tips on making money. No matter what method you use, it is always necessary to get fresh information about BTC rates and market tendencies. In the past, I already tried everything in crypto until I realized cryptocurrency was not for me.

I have been buying and selling bitcoin in Nigeria since mid In this post, I screened out the fraudulent and inefficient ones and listed only the best of the best.

My list is based on the exchange type, its efficiency, reputation, speed, customer support, public opinion and my personal experiences with. So in this post, I will not only show you the best BTC tradihg in Nigeria but also educate you on the Bitcoin exchange types, their advantages and disadvantages.

I am already excited, so if you are ready, let dive right in. But hold on, If you are like me, I sometimes do not like to read but watch the video. So, I made a video of this post just for you, you can either watch the video below or skip it to read the text, the choice is yours.

Read Review. Visit Exchange. This is the simplest type of exchange. It is the first generation of BTC exchanges. How it works basically is that you pay money to the exchange and they send bitcoin to you or, you send bitcoin to the exchange and they send money to your bank account? This type of exchange does not directly sell or purchase BTC from its users, rather they connect buyers to sellers and modulate the transaction using an escrow.

This is an OTC between two persons directly. In case Ivory refuses to make the payment or Mike refused to confirm it. They both have to present proof to the exchange, and the exchange will release the bitcoin to whoever it corrects and probably ban the liar. Trades here are executed instantly. The exchanges listed come in no particular order, however, I will group them into the type of exchange they fall.

Ngexchanger 4. NairaEx 5. Remitano 7. LocalBitcoins 8. Paxful 9. I fell in love with quidax when I discovered it in Novemberespecially because of the speed with which it processes a withdrawal request. Most times I get credit alert within the first minute of making a withdrawal request on Quidax.

The transaction fee here is 0. Taker are those that set ni price while Makers are those that buy or sell at the set price. Read my full review of quidax including a video where I showed how to use the platform. Bitcoin exchanges in Nigeria cannot be talked about without mentioning Luno. Luno did for Africa what Coinbase could not do for Africa i.

This exchange was formerly called Bitx as can still be seen in credit alerts from processed withdrawal. Luno Trading Platform: There are 2 crypto-pair available for trade on Luno, however, this depends on the country you are trading. The transaction fee also depends on your country, for Nigeria, its O. This is very similar to the way you buy on quidax.

To get full details, read my Luno Review. That said, here are the steps. These exchanges ruled the Nigerian market especially inmany of then have faded out while others have stood the test of time. Here are the best nigerla. It is based in Port Harcourt and sells and buys all cryptocurrency. Just mention it and they will source it for you.

BlockVila was formally known as Ngexchanger but rebranded to Blockvila in August of It did this to expand its services beyond the shores of Nigeria. There is also a possible move of its head office to Abuja. If the cryptocurrency you want to buy is not listed on the site, you ill have to contact customer support do so. At the end of the six months, you will be refunded that the initial. You can signup here to invest. Anyone who has bought or sold bitcoin in Nigerian in and must know of NairaEx.

It was the most popular Nigeria Bitcoin exchange in this period. At this time it amassed over thousand users and conducted over thousand transactions.

Buy and Sell: NairaEx buys from you or sell to you the supported coins listed above, they do not provide wallets for these coins. This bitcoin broker was launched in April Although relatively new, it has proven its worth to be in the top 10 because of its solid service. It has a beautiful, fast loading easy to navigate interface. It also displays a live chart it is home page, a feature you will rarely see in other OTC Broker exchanges. Transaction fee on Hoe is not stated rather the rate is given.

However, when compared with the price in Bicoin and Quidax, there is about 2. Maoe Site. Remitano is the safest and the most used P2P exchange in Nigeria. It beats other Peer-to-Peer exchange in terms of security, customer service, services offered and supported cryptocurrency. I have been trading with Remitano since late when bitcoin was the only supported crypto on it.

This exchange still remains my favourite P2P exchange and I have followed its progress to this day. You can chat up a trader when the trade ttrading still open. When the trade is closed, you can no longer communicate with Seller. If the trader refuses to release bitcoin to you, go for dispute.

Paxful is a peer-to-peer bitcoin exchange that was founded in the USA. Its unique selling point is that it has over payment methods to buy bitcoin. I gitcoin have not sold gift cards for Bitcoin on this platform, But I have sold Neteller and Webmoney for Bitcoins. Another amazing thing to know about Paxful is their Charity outreach, they have sponsored a number for a school building in Africa.

You can out the youtube video. LocalBitcoins is one of the oldest bitcoin exchanges. Its is one the first bitcoin exchange I knew and the first P2P exchange. On this platform, you can buy and sell bitcoin using over 30 payment methods including Altcoins. Once the seller receives your payment, he will release the bitcoin amke your LocalBitcoins wallet address. The Coindirect exchange was launched in SouthAfrica in early an has since continued to gather momentum.

Not so much in Nigeria but in South Africa. If you have been following this exchange since its inception, you will notice that it has continued to fine-tune its model to suit its customers. Coincola was founded miney Hongkong and has over 1 million users. In it started an active campaign to break into the Trrading market and has received tremendous adoption. Coincola also supports gift cards exchange for bitcoin which Remitano does not. All gift cards. To buy bitcoin on Coincola, I will recommend you read my Coincola review.

I have a good details video showing. Redimit: This OTC exchange is new, it nigria excellent service, it might make my list in InstantGold: This exchange has existed for over 10 years now, the service is solid, however, It need to upgrade their interface. Africa: This is a P2P exchange that should make the top 10, however, they need to beat the listed P2P to do so.

If you have carefully followed this post, you will see that the exchanges are not the. They have their particular use cases, so it depends on your use case. I trade regularly on Luno and Quidax, to exchange gift cards for bitcoin, I go to Coincola or Paxful depending on where the price is better at that moment. To exchange currencies like Neteller and Webmoney I go to Jn and LocalBitcoins and make my choice depending on where I get a better deal, etc….

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Nice work done on the review. Thanks for your review Jude. However note that the N withdrawal fee does not go to quidax or Luno but to the payment processor; flutterwave, pay U, Paystack. This site uses Akismet to reduce spam. Learn how your comment data is processed. Friend’s Email Address. Your Name.

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When you think of trading or investing, you probably think of stocks and bonds. You might also think of commodities, currencies and whatnot. Introduced inthe electronic currency Bitcoin is exchanged through its own payment network. The Bitcoin can be stored in tradinb virtual wallet and has been described as a cryptocurrency; a decentralized, peer-to-peer currency which relies on cryptography to facilitate currency generation and transactions. The Bitcoin is essentially a speculative vehicle for geeks.

Bitcoin’s Bullish History

Basically, do not eat out and expect to pay for the meal with Bitcoins. Some legitimate vendors have taken to Bitcoin, allowing customers to purchase real products and services nigerla the digital currency. Reddit allows you to use Bitcoin to buy Reddit Gold. While some everyday vendors have looked into accepting Bitcoins too, most of the demand for the currency has been fueled by speculators, rather than early adopters. With so much volatility, using Bitcoins in everyday life would be extremely risky. With such volatility, any serious commerce conducted with Bitcoins is likely to result in one party losing out on a lot of value. So right now, the cryptocurrency is realistically just a tool for speculation. Coinbase is one of the major Bitcoin exchanges, which allows you to buy and sell Bitcoins as you. You sign up, deposit real-world money and exchange the currency with relatively low fees. By April 16, Bitcoins had lost almost how to make money trading bitcoin in nigeria their value.