The current internet age has seen a change in mentality on how to make money with more people looking online for money making opportunities. Nigerian youths have also become open to the idea of making money online with an increasing number turning to different types of online businesses.
There are several ways of making money online from offering services to businesses to creating an online merchant website for selling goods and services. However, in the past three years, there has been an increasing number of Nigerians into Bitcoin and gift card trading.
Gift Card Market In Nigeria
Gift card trading is the act of buying gift cards at a low price and reselling it at a higher price to gain profits. Gift cards are essentially pre-loaded debit cards that are issued by electronic stores, grocery shops, and online shopping as a means of incentive to customers.
The most popular gift cards traded are those of Amazon, iTunes, Google Play, eBay, and Walmart. All you need to do is to buy gift cards unwanted gift cards from third-party sites for a fraction of their value and reseller at a higher sale value.
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A typical example is buying an Amazon gift card worth $100 at 70% of its value if you resell the gift card for $90 you would have gained $20 for that transaction.
Multiply that amount by multiple daily transactions and you can earn a tidy income from gift card trading in Nigeria.
Bitcoin Market In Nigeria
Bitcoin trading has increased in popularity within the past five years as more Nigerians look to leverage the money-making opportunities of Bitcoin trading. Bitcoin has its advantages as a decentralized currency that facilitates cheap cross border transactions and also doubles as an investment asset.
The recent rise in Bitcoin in 2019 has also seen the coin provide a good return on investment for investors that bought the coin earlier in the year when the coin was valued at $3000.
As of the time of writing Bitcoin trades for $8600 which means that the coin has gained over 150% in value since the start of the year. This makes Bitcoin one of the most valuable digital assets to invest in as the cryptocurrency looks to be the real deal.
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You can become a trader in the coin which is similar to forex trading. This takes dedication but is certainly worth it as the price of Bitcoin tends to fluctuate several times during a trading day. You can always leverage those key moments and make a tidy sum from tested trading practices.
You can also choose to invest in the long-term which is a less risky approach that involves buying the coin and holding for an extended period. This method may not give as many returns as quick trading but has over time proven to be successful as Bitcoin has displayed an upward price trend in 2019.
Where Can I Buy Or Sell Gift Cards And Bitcoin
Initially, trading gift card or Bitcoin used to be difficult for Nigerians as you needed to take complex steps to register on the few sites that traded in the digital assets.
But in 2019 there are several local and international trading platforms that accept users from Nigeria. Furthermore, some of these platforms have dual trading capabilities which means that you can trade gift cards for Bitcoins and Vice Versa.
Popular options for Nigerians include Nairaex, Paxful, and CoinCola. These three platforms have their pros and cons but the platform that has shown the greatest versatility among the three is CoinCola.
The Hong Kong based exchange has increased its expansion into the African market offering excellent services. Users across the world have commented about the ease to use and low transaction fees offered by CoinCola.
What Is CoinCola
CoinCola is an exchange where users trade among themselves and it offers a dual trading platform for gift cards and Cryptocurrency.
Advantages Of Coincola
Local Payment
CoinCola allows you to purchase Bitcoin and gift cards via different methods such as bank transfer, Naira debit cards, and other local payment methods.
This makes it a friendly platform for Nigerians as you can easily begin trading without having to worry about extra charges from currency conversion.
Low Transaction Fees
CoinCola offers one of the lowest transaction fees in the market with 0.7% of your total fee.
Simple User Interface
CoinCola uses a simple interface that is easy to navigate for beginners and advanced users. The menus are arranged neatly and it is easy to perform transactions within a few minutes of signing up.
Secured Platform
CoinCola uses novel security protocols on their platform which keeps all transactions safe from hacks or theft. Furthermore, the platform uses an escrow system which ensures that transactions are complete before releasing funds protecting both the buyer and the seller.
Conclusion
In conclusion, it is always best to understand what sort of internet venture you want to embark on. Read this article several times to get the full breakdown of the gift card and Bitcoin trading in Nigeria.
Having read this, you do not need to procrastinate: take action by using CoinCola for your online trading venture and leveraging the money-making opportunities online.