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7 Proven And Effective Ways To Make Money Online In Nigeria

 

By Nerly Shammah Jun 17, 2023

 

How to make money online in Nigeria? You can make money online in Nigeria by choosing from any of the activities listed in this article.

 

 

We're sure you've already heard a thousand times(maybe) that you can earn money starting a blog, becoming a freelancer or an affiliate marketer, but all of these require time and sometimes cost a lot of money so instead of settling for the global settings and opinions on the subject of making money online in Nigeria, we will explore a more tailored to your needs and expectations proven ways to kick start earning money online in Nigeria and you'll only need a smartphone for most of it.

 

We've seen a number of people including ourselves at icoverage.io test out these methods of making money online in Nigeria and it works, however, while this system works, it isn't automated to make you money without you putting in the effort but it is extensively simpler to get started and earn as compared to all the global start a blog, freelance and what not. Although these are also great ways to make money online as a Nigerian and you're more than welcome to try them out, we however want to share ways that are not only cost-effective and easy to get started but also fun! 

 

7 Proven And Effective Ways To Make Money Online In Nigeria:

 

1. Thread On Leofinance 

 

Not sure what this is? I don't exactly expect you to know what it is because it is one of those goldmines that fly under the radar until it hits mainstream and becomes difficult for the average individual to earn with, just as most of the money structures in the digital ecosystem. This makes Leofinance a viable option to start with because there's low competition, high rewards, cost-effective, mostly doesn't require investment and needs just a little dedication. 

 

You can make money online in Nigeria by posting threads on leofinance, if you've never used Twitter long enough to know what threads are, they are basically tweets that explain different topics or ideas in a chain format. However, when I say thread on leofinance to make money online in Nigeria, I don't necessarily mean you have to do the Twitter-style threading, I mean simply posting short content to Leofinance, like tweets. Leofinance is a Web3 blogging and microblogging platform built on the Hive blockchain that incentivizes or pays users to post long or short-form content on their desired topic. On average, users earn $0.03 - $0.20 per thread, and this can be a simple "Hello I'm New Here" post which we definitely encourage you to post on first getting there. 

 

Does it sound too good to be true? I know it may, but I'll have you know that Hive blockchain is more than 4 years old and its major value channel has been blogging, leofinance is more than 2 years old and is built on Hive blockchain so this enables users to earn twice as much when posting on Leofinance. A campaign was recently concluded on leofinance where $10,000 was given out to winners for simply completing easy tasks like posting a thread, the top earner received over $1,200 and he is a Nigerian, so he literally bagged over 1 million naira simply posting threads on leofinance. What are you waiting for? 

 

Get started on leofinance and start earning on the go, there are numerous incentives being built currently to reward users and one of them is ad revenues, this is effectively the most proven, easy and fun way to start earning online in Nigeria as though the Leofinance community is both welcoming and rewarding. 

 

2. Start A WhatsApp Channel

 

As a Nigerian, I'm sure a WhatsApp channel isn't anything new to you as we've mostly once in a while had one or two people in our contact list running a channel. These channels either focus on celebrity news, memes and jokes or finance, money and investment topics, whichever it is, running these channels is highly profitable especially if you put in the work and consistently brainstorm ways to improve your audience engagement rate. 

 

Starting a WhatsApp channel is one proven and effective way to make money online in Nigeria because with it you can promote brands or other businesses for a fee, also, you can promote affiliate products and earn commissions when people buy something, it is equivalent to having a famous Twitter, Facebook or Instagram account, only that being that you directly hold contacts with your audience, it could be more valuable and your daily content really doesn't depend on crazy algorithms to reach people, all that matters is having the contacts. 

 

Here are effective ways to gain more WhatsApp contacts in 2023

 

3. Start Trading Cryptocurrency

 

Did you know that Nigeria happens to be amongst the top countries with high interest in cryptocurrencies like bitcoin? blockchain and digital assets? This means that there's a very large market to not only dive in and learn to trade, start the journey and make money but also a large audience waiting to learn from you, something you can quite easily monetize if you combine running a WhatsApp channel and trading cryptocurrency. 

 

It doesn't matter if it is spot trading, futures trading or even arbitrage trading, with the right learning resources, you can make as much as $1,000 on the good days or average this amount monthly if the markets are slow. My personal highest record has been making $1,000 using $500, a 200% ROI on futures trading, on the bad days usually 20% of $1000 or even using $100  and making about $20 but it's easier using a large capital. I also deal in arbitrage trading and I can say it's one of the less risky trading methods out there because it's very short term, often instant buys and sells with sometimes high returns and you can repeat the process 3-5 times depending on how wide the opportunities in the markets are at trading times. 

 

If you want my personal coaching, click here to send me a message on telegram and I'll take you through my practices. Do not text me if you're going to be greedy on trades, that is the fastest way to lose money. 

 

4. Sell NFTs

 

This may not exactly be the easiest way to make money online in Nigeria but it is one of the highly profitable ways to make money online, all it takes is a great marketing approach for your NFTs. 

 

Things to consider before starting is your audience, of course, your audience should typically be one that demands what you're good at. So unless you have such an audience, you may never get to make any decent money with this. Some ideas of what to sell as NFTs include: digital arts, physical arts with NFTs as ownership license, and a blog post, yes, if you have a blog you can paywall your articles and only issue them to people that buy your NFTs, you can also write eBooks and sell as NFTs, endeavour to create some layer of forward going incentives like a "buy one get this free or access to this" type incentives, this increases your chances of making sales and having a loyal customer base. 

 

You can mint your NFTs on any blockchain but Polygon is cheap for a mainstream blockchain and Hive blockchain is totally free, you can list your NFTs on NFTmart or NFTshowroom(two NFT stores on Hive) and promote it to your audience but you have to consider what channels your audience can easily interact with and make purchases.

 

5. Join Online Contests

 

Online contests are one of the fun ways to get active online, build relationships and earn money while at it, while you can go contest hunting on your own on social media platforms, there are also options outside these spaces. 

 

For example, on Hive, there are often contest from time to time to earn Hive tokens, Hive Backed Dollars or simply votes that converts to the same thing, while using Leofinance if you choose to, you'll most definitely occasionally stumble on contests to join and this just gives you more exposure and earning potentials. 

 

That said, you can also browse this website for diverse ongoing contests that you can join, also feel free to search "Online contest in Nigeria" to browse more active options - good luck. 

 

6. Set Up A Contacts Earn Group

 

What is this you ask? I find pleasure in seeing people make great business moves and this is something I saw some weeks ago, it was run by a group of 5 girls if I recall correctly, it was a typical WhatsApp group that gave people room to earn more business contacts by simply posting the group link on their status for others to join(if they got up to 100 views) or by paying 1,000 naira and you'll be added to the premium group. 

 

There is however one problem with this, if there's already a group with many people looking to earn new contacts, don't you think people will start messaging each other? It is highly possible so to ensure that people aren't just eager to do that and leave with paying to join the premium group, you could include some additional perks to the package like say the premium group will have courses on how to run a successful WhatsApp business for free, this makes people want to stay and pay the fee. 

 

Something else you should consider is focusing on getting more people involved rather than charging high so maybe charge 500 naira but work to increase the involved members. Going forward, you still could promote more paid services, just not the ones you promised for free. Working with a WhatsApp channel can also make this a lot easier, so you see, most of the ways to make money online in Nigeria we shared are effectively linked to each other, meaning they are tailored to help you maximise your presence in the online space for profit. 

 

7. Join Rising Star Game

 

Rising Star is a free-to-play blockchain game that incentivizes players to build bands and host concerts. It is free to start and earn, literally, there isn't a need to invest to earn, although that could fast-pace things. 

 

Rising Star is based on the Hive blockchain and tokens can be sold for Hive which can in turn be sold for any cryptocurrency or converted to naira on Binance. 

 

In conclusion, there are numerous ways to make money online in Nigeria, these methods listed above are simply easy to start, cost-effective, rewarding and fun. Feel free to return to us with a review on how it is going, we'd be happy to find out that it worked for you or recommend other ways to earn or strategies to make it work if you need us to.