Top practical ways to earn bitcoin in Nigeria as a side hustle
If you’re here, you’ve probably heard a lot about Bitcoin, the critically acclaimed digital currency of the future.
A single Bitcoin today is worth well over $55,000, and over the last decade, Bitcoin has moved from million-dollar to billion, approaching trillion-dollar asset class. It is singlehandedly the best performing investment option in that same period, and in current-day settings, many regard it as the ultimate key to financial freedom.
Okay, enough of the Bitcoin shilling. If you’re here, one thing’s important to you — how do you earn Bitcoin in Nigeria?
In this guide, I’ll introduce you to the top legit ways you can earn Bitcoin in Nigeria without so much as breaking a sweat. Let’s get into it.
Earning through odd jobs and freelancing
Odd jobs are casual, non-full-time jobs you take to earn some money on the side. The business of doing odd jobs is not new. In fact, you probably grew up doing a lot of odd jobs — you know, washing your parent’s cars, running that errand for an Uncle, or being that guy running small-time graphics designing gigs in and around your school.
What’s different now is that the rise in popularity and adoption of Bitcoin has led to the creation of new odd job platforms and communities where cryptocurrencies lead the way. So rather than get paid in traditional currencies, which are harder to use, especially in the context of cross-border payments, you get paid in cryptocurrencies for completing specific tasks.
There are several platforms where you can find odd jobs that payout in cryptocurrencies, but my favorite by far is the R/job4bitcoins subreddit. My favorite because it’s super easy to use. You don’t need any special sign-ups asides from a Reddit account. It’s also great because there are always new jobs to apply to.
Now I should add that your chances of securing an odd job are way higher if you’re smart, handy, or have some in-demand skill. Transcription, translation, graphics design, and junior-level web development and programming are some in-demand skills you can come to grips with in a matter of a few months. If you love Reddit like me, there are a lot of communities dedicated to helping people learn these skills. Just search for them to get started.
Alternatively, you could head on to Udemy and pick up a course to train you through. Udemy courses cost money and often lack the in-person experience and guidance you’ll find on subReddits, which is why I prefer the latter option.
Take online surveys that pay in Bitcoin
Much like odd jobs, online surveys are not a new thing. The only new thing is you’re getting paid in Bitcoin. Most will come in the form of questionnaires. You get asked a series of questions, you fill in the answer, and at the end of the day, you get paid in Bitcoin.
Good paying online surveys are targeted, which is another way of saying they’re specific for the kind of respondents they require. And that’s where the problem lies for most people in Nigeria (and Africa in general) who’re trying to earn good money from completing online surveys. Conventional survey organizers care little about the African audience, and if you’ve tried signing up for readily available surveys before, you’d know that Nigerians are almost always ineligible for the juicy offers (looking at you UserTesting).
But Bitcoin comes to the rescue yet again. Since it became more mainstream, there’s been a rise in the number of crypto-dominated survey sites, most of which are non-discriminatory.
Of the crypto earning survey sites available today, I’ve had the best luck with two sites.
Both of them allow you to do more than just surveys. On gain.gg, for instance, your complete offers and watch videos to earn Bitcoin. Gg2u.org was designed for gamers, so in addition to completing offers and surveys, you can also play games to earn Bitcoin.
I should, however, note that while both these sites have okayish payouts, you’ll have to grind hard to get sizable returns, the kind that could set you up for financial liberation.
Both still fit the bill of a side hustle for sure. You can complete most tasks on your mobile phone, and it’s nothing complex, so completing them while in commute or while you’re hanging out is a given. But the point is you have to complete many tasks to make serious cash (Bitcoin). Thankfully there’s no shortage of offers on both sites to keep you engaged for as long as you please.
This is probably the most direct and practical way to earn Bitcoin as a side hustle, but I’ve left it out up to this point because of following reasons;
- It requires an initial investment
- It has a steep learning curve
- It is very risky — like life-changing risky. Your money could all go up in flames in a matter of seconds.
Now that the disclaimer is out of the way, how do you earn Bitcoin by trading? It’s simple (not simple to execute, simple to conceptualize); you buy Bitcoin when it’s low and sell when it’s high. For all its high-flying success, Bitcoin is still an extremely volatile asset, and depending on how intuitive you are, you can leverage this volatility to your gain. How? Again, by buying low and selling high.
Obviously, there’s a lot more to this. Predicting the market is a tacit skill, one that very few have managed to master. If you’re confident in your predictive, and I’ll just say it straight, gambling abilities, I suggest taking a look at this handy guide to trading cryptocurrencies and Bitcoin developed by the guys at Benzinga to get started.
Again, fair warning that you could lose all your money with trading.
Using Remicash to earn Bitcoin
If you had the initial investment capital and wanted to earn Bitcoin in Nigeria with significantly lesser risk compared to trading, you can use a service like Remicash (that’s us, by the way).
Remicash operates like a regular savings platform. So all you need do is deposit money into your Remicash savings account, and in the same way a savings account pays you interest, we’ll also credit you with interest on your deposit. The core difference is that while traditional savings accounts pay in Naira, we automatically pay you your interest in Bitcoin.
Setting up a Remicash account is super easy. Our KYC process is smooth and seamless. We’re a regulated Fintech organization in Nigeria registered with the CAC, so you don’t have to jump through the many regulatory hoops that exist for Nigerians looking to get some exposure in the global crypto market.
Additionally, Remicash automatically converts your holdings into digital USD, so it’s protected from the cold grip of inflation currently plaguing the Naira. It’s like killing two birds with one stone — you get to earn Bitcoin without any hassle while protecting the value of your money.
See more on how to earn on Remicash by clicking here.
Earning Bitcoin in Nigeria is not rocket science, and these methods should provide you with a head start. As more practical and handy opportunities to earn Bitcoin arise, we’ll be sure to update this list.
Think we’ve missed any legit way to earn Bitcoin in Nigeria? Got any legit Bitcoin earning secret sauce? Let us know in the comment section.