How To Invest In Cryptocurrency In Nigeria The Right Way
How To Invest In Cryptocurrency In Nigeria The Right Way.
Cryptocurrencies are the new trend and people are making a lot of money by investing in them on a daily basis. You can make your first cryptocurrency investment by purchasing Bitcoin or Ethereum, but there are other cryptocurrencies out there to choose from that are absolutely more profitable than the hyped bitcoin. However, bitcoin is the origin and the grandmaster of all crypto coins.
In this post, I’m going to be showing you how to invest in Cryptocurrency in Nigeria the right way. Remember that this post does not serve as a financial advisor and you are required to do your own findings.
The best way to invest in cryptocurrency is to do it the right way. That means that you need to know how to buy and sell them, as well as keep your coins safe from hackers and thieves. To get started, you’ll need to understand how to open a bitcoin wallet or account in Nigeria using your smartphone then follow throw this guide, and Coin Decimal has been a major information hub for anyone who wants to truly make money on the internet using crypto coins.
If the prerequisite has been met, here are some tips on how to invest in cryptocurrency in Nigeria the right way:
Tip 1: Select a cryptocurrency wallet
Before you buy any cryptocurrencies, you will need a wallet where you can store them safely. There are several types of wallets available for different platforms, including desktop wallets for PCs and laptops, mobile wallets for Android devices, web-based wallets, as well as paper-based wallets (which are more secure).
The type of wallet that you choose depends on your needs and preference; however, most people prefer using a wallet that supports web and mobile access because they are easy to use and provide better security than other types of wallets.
Example of a wallet includes trustwallet, Binance, blockchain wallet, Paxful wallet, and so on.
These wallets can be used to store coins from BTC, Ethereum, and Dogecoins among other coins and airdrops.
Tip 2: Find a cryptocurrency exchange platform
Once you’ve selected a wallet for storing your cryptocurrencies, it’s time to find an exchange platform where you can purchase them using fiat currency such as Naira or Dollars (USD).
Many people prefer to do a peer-to-peer exchange. This is where you are expected to join WhatsApp groups, and Telegram groups and network with other traders to start the peer to peer trading.
Tip 2: Monitor Shitcoins and Airdrops
One way people make huge money in the crypto business is by investing in new coins. It’s not hard. Take it to be an investment you make on something that doesn’t have value yet with the hope that it eventually becomes useful and increases its value.
That is the same way bitcoin started. Someone even exchange a bitcoin that is worth over $50k for a pizza because it had no value then.
Likewise, the new coins might not have value at first but come with unforeseen potential which can be determined by other crypto trading factors.
Conclusion
There are lots of stories about people making huge money with bitcoin, but no one likes the stories about people who lost a lot of money investing in an industry that’s still new and hasn’t been fully regulated. Many people in Nigeria started to invest in cryptocurrency because of the promise of high profits.
Do your research before investing in any coins.
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