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I’ve made unexpected profit from Bitcoin and crypto businesses!
I made over $4,000 doing different kinds of Bitcoin business, without breaking the central bank of Nigeria.
I tell you my friend, you too can make huge money off Bitcoin and cryptocurrencies, so no need to start swimming in doubts.
I decided to write this guide, so you can understand how you can make money with Bitcoin crypto-coin created by Satoshi Nakamoto.
Before we start, let me educate you a bit on how the business of buying and selling crypto-coin works.
Shall we…?
How Bitcoin business work
Bitcoin being the first crypto made it the most popular and most expensive digital assets at the moment.
As a digital currency, you cannot store it in your traditional wallet, or a bank account so you need to understand how it works.
It’s very easy to make income with Bitcoin, but you need to understand how to do it right, to avoid loosing your money.
Bitcoin business is mostly like trading stocks (i.e. buying and selling assets), so you treat it the same way you handle those kinds of businesses.
Before you start doing Bitcoin business, you need some tools that will help you follow the price trends and also keep the security.
These tools are:
- Crypto wallet for Bitcoin storage
- Cryptocurrency portfolio trackers
- Reliable crypto exchange platforms
If you do not know how to get a Bitcoin wallet, you can read my step-by-step guide on how to open Bitcoin wallet.
Best ways to start Bitcoin business
Several youths are making lots of money by joining the crypto industry, while participating in many Bitcoin businesses to make money.
Here are the most relaible cryptocurrency and Bitcoin businesses you start doing today to earn sustainable income.
1. Lending and borrowing
Bitcoin is not just the most popular cryptocurrency, it is also considered as a store of value. Bitcoin is also an asset and it can be used to procure loans.
Bitcoin lending is like your traditional loan that is offered by individuals and organizations just like your traditional banks.
You can have interested Bitcoin users deposit their BTC as collateral, and borrow monetary funds from you.
Once they pay back with an agreed interest over a predetermined time, you can send their BTC investment back to them instantly.
The borrower can decide to pay the loan in monthly installments or at once, depending on the terms of agreement between the both of you.
2. Send and receive money overseas with Bitcoin
This is method of BTC business is simple, because you only help people convert their cash into Bitcoin.
You can even send it to someone overseas without the financial institution protocols that exists in the traditional system.
This method of transferring funds is secured and faster, due to the fact that blockchain is built with speed and security in mind.
3. Bitcoin trading
This is one of the most popular ways to make money in the cryptocurrency industry. To make money trading Bitcoin, you have to sign up with an exchange.
There are certain features you have to look out for before joining such as the security of their site, transaction fees, transaction speed, ease of trading, kind of cryptocurrencies you can trade and the type of fiat currencies they accept.
You can start buying and selling of Bitcoins in Nigeria with sites like Binance, Nairaex, LocalBitcoins and Luno and then fill your crypto wallet.
Open trading accounts with any of the Bitcoin exchanges, and you can trade BTC with other currencies directly.
All of these sites can also trade directly with Naira local currency, but I personally prefer using Binance exchange platform mostly to buy Bitcoin cryptocurrency.
To learn more about how to use this Chinese platform in any part of the world, you can read my comprehensive Binance exchange review.
4. Website carding with Bitcoin
This is the kind of Bitcoin business that most successful Yahoo and GBoys require who will be doing it for them.
In this one, you can help the hustlers in the street to pay for the membership profiles that needs to be carded with foreign Master or Visa cards.
There are many Bitcoin oriented companies that can issue you virtual credit cards, which your Bitcoin is also converted as your balance for the card.
You can then use the card to pay for any payment merchant online.
Is accepting Bitcoin payment a good business?
Accepting Bitcoin as payment is one of the ways to becoming rich with this crypto, because the BTC price can appreciate at any time and the value will also increase.
Is Bitcoin legal in Nigeria?
Yes, Bitcoin is legal in Nigeria, but the Nigerian SEC (Securities and Exchange Commission), warned citizens about crypto investments being risky and sometimes even fraudulent.
How much does a Bitcoin cost in Nigeria?
The cryptocurrency market is highly volatile, and price of Bitcoin fluctuates every time.
How much can I use to start Bitcoin?
There’s no minimum amount you should invest in Bitcoin business, as the minimum amount is only one set by the exchange platform on which you’ll buy Bitcoin.
Is Bitcoin investment a good business?
Generally, investing in any cryptocurrency, and not just Bitcoin is a good, but you need to understand how to do crypto investment safely.
Final thoughts
Bitcoin business have made many young individuals very rich and wealthy, and that is to say, you too can make something out of it.
Do not forget that cryptocurrency market is very volatile as well as risky, so always invest or start the business with an amount you can afford to loose.
Do thorough research on each crypto project and asset you wish to put your financial funds in, because there are many scams in the crypto space.
