As at the time of writing this article the government of Nigeria has ban Bitcoin selling and buying but the resiliency of Nigerians will not allow them to stay put, Bitcoin buying and selling is still going on even more than before.
One of the best platform to buy Bitcoin, Ethereum and other cryptocurrency in Nigeria is Luno, it is safe, easy and legit and there transaction fee is less compare to other.
Apart form buying and selling Bitcoin there are other ways to make money with Luno in Nigeria but the major way is to trade bitcoin with that been said below is how to make money with the platform
How to make money with Luno in Nigeria
On Luno you can save your bitcoin just like you save money in banks. According to Luno if you save your money, you will be entitle to have 4% interest rate on Bitcoin and Ethereum while on USDC you will have 7% interest per annum. To make more money you can leave for many years and let compound effect takes place.
Buying and holding
We all know how volatile cryptocurrency is, instead of buying and selling immediately you can make money by buying, holding and selling at the later date.
You will sell only when the coin you buy has increase in value.
Another way to make money on luno is to join their affiliate, locate and click “promotions” on your dashboard copy the invitation code and ask your friends and family to insert the code when they are registering.
Once they sign up with your code and make at least 0.1btc transaction both of you will receive 10zar.
A Bitcoin faucet is a survey platform where you will earn bitcoin by answering survey.
Most of the surveys are from company that want to know how their product is doing or want to enter into new market. Once you complete your survey you can use Luno as payment platform.
You can also make money by doing some micro job on platform like Coinpayu and adBTc. To get withdraw you can connect your Luno account.
If you have a lot of bitcoin you can engage in lending, the advantage is that there are a lot of people to help since there is no currency barrier.
There are two ways to earn here, you will earn form interest and increase in value of your coin.
To loan bitcoin to people connect you Luno account with BTCpop, Uncaned capital and Bitbond.
Another way to make money with Luno in Nigeria is to connect your Luno account with crypto games like Alien run, Speakprofit, Aie infinity, Cryptoblades, my Defi pet.
Instead of buying and holding bitcoin or other cryptocurrency you can engage in coin flipping such that you buy and sell when there is small opening (when there is small increase in coin value).
This is very risky and you have to do it every day to make a meaningful profit.