MAKE MONEY WITH BITCOIN IN NIGERIA: With the rise of Bitcoin (BTC) as the number one form of decentralized currency in the past few years, it has gained considerable popularity. One thing is for sure: despite Bitcoin’s creator remaining a mystery, there are opportunities for you to earn money today.
Many options are available, and deciding which is best is not always straightforward. Our goal is to make everything a little bit easier for you, so we came up with a list of tips on how to make money with Bitcoin.
1. BUY AND HOLD BITCOIN
Buy-and-hold strategies are one of the best ways to make money with Bitcoin without putting in too much time or effort. Holding BTC is one of the easiest and least complicated methods of earning money with cryptocurrencies. The process is as follows:
- Purchase Bitcoin with a bank transfer or choose from nearly 400 payment methods.
- Regardless of how long it may take, hold on to your bitcoins and wait for price spikes.
Depending on your time frame, you might decide to sell your home after weeks, months, or even years. You could buy and hold for a long time. This technique has become so common that it has been dubbed HODL on the internet. This acronym originated as a typo on a forum and became an acronym for Hold On for Dear Life.In conclusion, if you decide to buy and hold, hold on to the BTC.
2. ACCEPT BITCOIN PAYMENTS FOR YOUR GOODS AND SERVICES
As BTC continues to mature, we are starting to see more and more businesses accept btc payments for their goods and services. Considering accepting Bitcoin as payment for your product is a great option if you have a business already.
When you integrate Bitcoin into your payment system, you are extending your reach and making transactions more convenient for customers who do not have bank accounts or credit cards. You can accept Bitcoin payments quickly and easily thanks to the incredibly simple setup.
You can start by placing a small sign in front of your storefront and near your cash register if you own a physical establishment. If your company operates online, you can either use a payment intermediary and fully integrate it into your website or place a banner on your home page. Alternatively, customers can simply send you money directly via Bitcoin.
MAKE MONEY WITH BITCOIN IN NIGERIA
3. PLAY CRYPTO AND BLOCKCHAIN GAMES
It is possible to have fun and earn money at the same time! Gamers earn Satoshis by playing Bitcoin play-to-earn games like Bitcoin Alien Run and Sparkprofit. Recent years have seen the emergence of non-fungible token (NFT) games. There are many blockchain games you can try, among them Axie Infinity, CryptoBlades, and My DeFi Pet. Despite the additional effort, it’s probably more enjoyable to play Bitcoin games than take surveys.
4. Accept BTC-paying jobs
The benefits of receiving payment in your native currency are great, but receiving payment in Bitcoin takes your freelance gig to a whole new level. If you are an independent contractor and a crypto enthusiast, you will find several websites that will allow you to complete tasks and jobs for Bitcoin.
Looking for work can be as simple as visiting websites like laborX.com, Cryptogrind, CryptoJobs, and CoinTelegraph Jobs. Several of these platforms deploy Smart Contracts, improving the efficiency and security of every transaction.
5. CONSIDER BINARY TRADING
Since binary trading in the financial world has existed for quite some time, it only makes sense for it to also be used in the crypto sphere. When you’re willing to take risks, this is a suitable way to make money from Bitcoin.
There are only two options in Binary: the trader purchases the option and sets the time for the option to expire. There is either money in or money out. You’re making a bet on where the price will go.
You earn a certain percentage of your investment if you bet that the price will increase and it does. On the other hand, if it is lower, you lose it. However, you earn the option’s payout if you bet that the price will go down and it does. Earning Bitcoin this way can be difficult, but if you invest wisely, you can gain money quickly.
- MINE BITCOIN
Miners used powerful computers to solve complex problems to obtain Bitcoins using the Bitcoin mining process, which was one of the first ways to obtain BTC. By cracking the code, they earn bitcoins. There’s a race to see who can solve the puzzle the fastest. Those who are lucky enough to do so win.
You might be able to increase your chances of winning by joining a Bitcoin mining pool or cloud mining service. Mining pools work together to solve complex mathematical problems faster using the combined computing power of miners. Cloud mining for Bitcoin is similar, but they use it to connect their computing power. In this way, the hardware and software are not required to be installed and run independently.
Either way, the miners’ fees paid from transactions and the newly-minted coin are split between the members of the group.