Top 7 Ways To Earn Bitcoins In Nigeria – Must See For Beginners
it’s coming, it’s already here but it’s getting ever closer… the era of Bitcoins and people don’t wanna get caught unawares anymore.
If you are reading this then you can count yourself among the early ones too and it’s left to you to start working with what you learn from here. I really encourage you to do so.
Ths thread is not for those that wants to understand what Bitcoin is. there is another thread for that and if that’s what you wish to know, i suggest you go check this out before coming back to continue here:
Meanwhile, i just want to list the major ways by which one can earn some Bitcoins in Nigerians and outside. These methods am going to list here have been tested and trusted and f you follow in the guidelines which i will be listing here and in future threads, you will surely be able to earn a some Bitcoins and grow the ones you have too! Let’s get started. Btc School: Online Seminar On Bitcoin Investment And Growth!
1. Earn Bitcoins by Investing Online!
This is my favorite because with investments, you can do the calculations involved and know exactly how much Bitcoins you are expecting at the end of the day.
Speaking of Investments, anything can be an investment as far as Bitcoins is involved. The too good to be true investments are known as HYIP which translates to High Yield Investment Programs and these are the ones i will advise you to stay away from.
How to Earn Bitcoins by Online Investments
Pretty cool and simple too. I will be listing some of the most popular categories of Bitcoin Investments especially those that are common in the forums here.
1. Ponzi Schemes
Yeah, when we speak investments, this is largely the first thing that comes to people’s mind these days. Ponzi schemes are paying real good these days and the whole thing was started by MMM then advanced by so many others that we have out there including GetHelpWorldWide, NNN and co. They are all online and helping people make quick cash. But they are all Ponzi schemes and you better understand perfectly what you are trying to get into before you join and start investing your money n any of them!
Read: Top 12 Ponzi Schemes And Their Risk Rating In January 2017
Video Explanation of Ponzi Schemes
2. Referral schemes/Networking
This one works magically too. If you have source to inviting people to sign up in a program and also have a means of making them invite people on their own too, then you can make a lot of money with such referral programs. They are highly regarded as being very safe generally and i will recommend them for anyone that can do some networking!
The good thing about referral business is that t all happens between you are the people you refer and their own referrals and is just as quick as you can make it! If you have a pretty active team, then you will definitely progress faster.
Making money with referrals schemes is as simple as it is difficult.
Very simple for those of us that understands it well and already have a lot of people to join their team and make their progress fast while it is considerably difficult for people that have not done it before and are just testing the system here!
Whatever the case may be, i have written an article, a very good one for people that want to start referral business or have started but are facing some difficulties especially as t has to do with referrals and downlines. You can check it out here: Referrals, Downlines, Spillovers – How To Get Them All In Mlm
With faucets, your actual investment s your time and energy and data as the case may be. You don’t actually Invest real money. Instead, you Invest the above mentioned to accomplish some task and at the end, you will be rewarded with some Satoshi! They are cool but maybe not so fun because sometimes, you get to fill captchas and do so many other things wich can get you stuck and all that but these sites actually pay real satoshi!
Some of the bitcoin faucets have found their way to android phones rewarding users for doing things like watching videos and similar stuff and they are really a good way to earn Online without having to do much work.
You can learn more about Bitcoin faucets here
and also go here for examples of Bitcoin faucets that are still paying!
4. Bitcoin cloud Mining!
Bitcoin mining is actually the process by which Bitcoin transactions are verified in the blockchain.
Also, new Bitcoins are released into the Bitcoin network by this process. it’s an interesting one actually and as each day passes, it becomes more and more difficult to mine a certain amount of Bitcoins as there are more and more miners in the world.
What they call The Difficulty level of mining Bitcoins only keeps increasing and making it more difficult to mine with new hardware. More and more hardware are eventually manufactured for the sole purpose of mining bitcoins but they are usually so costly that the very best ones can be hanging around the range of 1.5 million Naira and that’s well above the reach of most people. Hence Bitcoin mining is usually done in the cloud.
This means paying some company for hardware which they have already purchased and then earning part of whatever that machine mines in a day! That’s cool, right?
I have spoken much about Bitcoin Mining in the past and will be dropping some links to those threads down below. Follow them to learn more about Bitcoin cloud mining and how you can start earning with them. You can also check out my own results and progress and then know what you are expecting as a miner!
That brings us to the end of Investing in Bitcoins Online, let’s see the other means by which one can earn some Bitcoins without actually Investing his cash Online!
This is the other type of Bitcoin mining where you get to purchase the hardware yourself, do some setup and then start mining on your own. Many people shy away from this because it’s a very intensive process and a lot demanding. You will require the machines and good and constant source of electricity in order to be able to make money from Bitcoin mining on your own!
You will also need good technical knowledge on how the bitcoin mining machines work and also know how to maintain them or have someone that will be doing so for you.
I won’t be able to speak so much more on this process of earning some Bitcoins by yourself as I have not done it before or have seen someone who has done it.
NOTE: You can actually join some Bitcoin mining pool online and mine with your PC. Ths is a slow process but it can help you get started.
Doing this with a rather poor system not cool because I still remember what it did to my own PC!
So I suggest you do it only if you have a very good PC especially n terms of RAM and processor speed.
6. Saving Bitcoins
Read up = I Have Finally Decided To Move Some Bitcoins Into Cold Storage – “very Cold One”
I love this method but it’s a 2-way thing
You can save your Bitcoins online or offline and they will increase or drop in value as the value of Bitcoins changes in real life!
Usually, people do this with the hope that their Bitcoins will increase in value. I myself have saved up some Bitcoins too.
I won’t really advise you NOT to do this nor will encourage you to use this method as the only method of earning Bitcoins. Obviously, it’s a slow one and as the price of Bitcoins can drop badly, you stand to loose at such moments.
Meanwhile, just like saving money, it’s a good thing to save Bitcoins too and on that note, encourage you to save some Bitcoins and then, if BTC increases on Value, you will be making some gains!
7. Buying and Selling!!! Trading the BIT!
I think this should have been at the top but it’s good as it is the last one because the last is always cool.
Trading bitcoins is a really lucrative business and one of the coolest things you can do wth bitcoin.
Just as the name implies, all you have to do is to Buy and sell BTC. You buy at the cheapest rate you can and then you sell off at a good one in order to make a profit.
Change in the value of Bitcoins on the negative side can cause problems for you as a seller but there is a way to go around that and it’s this: Bitcoin Is Dropping In Value, People Are Raising Their Sale Price – Here’s Why
I WILL Write MORE ON BITCOIN BUYING AND SELLING BUSINESS SOON AS IT IS BECOMING A REALLY HOT MARKET!
I trust that I have been able to outline the methods by which anyone can earn Bitcoins here.
Surely, there are other ones out there including those that I may not really know about but these are the major ones actually and I hope to expand on all of them in Future posts!
Now, am done!
Stay close to my other posts that will be following this one up soon.