Crypto trading: How to make money without loss

Nigerians in the last year has been reported by data received from Google as one of the major hub of crypto also known as Bitcoin trading.

Even with the recent ban on crypto currency trading in Nigeria, many people still get thier daily, weekly andmonthly income from crypto trading.

Read Also: Report: Moving of Locally Acquired Cryptocurrencies to Overseas Exchanges Barred in South Africa, Jail Time For Offenders

Usefultulips revealed that in the last 30 days, Nigerians beat other African with about $36 million worth of Bitcoin transaction. (That’s quite a number!)

Although the Ban was not received well by the public, this however does not stop the many Nigerians involved to halt Bitcoin trading.

Most of the Bitcoin transaction was done on two major P2P exchanges, which include Paxful and Local Bitcoinsand posting an upstick of 7%. 

CRYPTO TRADING 

In recent time, buying and selling remains the most common method which Nigerians make their living, crypto included.

And to garnish it is the fact that some sophisticated investors made their big bags getting into IDO/IEO.  

Data from recent analysis suggest that the percentage of Ethereum addresses in profit stand at a huge sum of 95% despites being at low in  one month.

This analysis points to the fact that crypto is highly profitable and a lot of traders has benefited from it.

Several new projects coming into the markets made some offerings on exchange or decentralized platforms and these provides opportunities to some traders make an early moves on these projects.

The recent concluded initial Exchange offering at FTX exchange, one of the most sought after exchange revealed oxygen protocol began trading with price of $0.15 moving forward to $4 in the just 10 days, thereby yield result of about 3500%

Due to the pace at which the price of crypto increases on daily basis, there has been a tremendously increase in the numbers of people rushing in to the market without making any research i.e. no or little understanding of what crypto is all about. 

Those new target in search of crypto education makes it very easy for those who offers educational contents in the crypto space and off course this gives avenue for the skilled crypto expert to make some more cool cash.

Content creators and so called Educators are also profiting from this new trends of gaining crypto asserts because they also create content and stories to the traffic thereby making money too.

This also come with another benefit after they showcase their skills by rendering assistance to some of these crypto projects.

Cryptocurrency and blockchain enthusiasts and analyser now get the avenue to earn in crypto without necessarily having to risks their capitals in trading.

“Cryptoverse” which are marketing, Crypto coding, crypto influencer aand crypto content writing are the big skills making way for people and off course these are also high demand skills.

Bottom line: stick with the skill you know and comfortable with, if trading is not your thing, you need to take extra precautions to dodge a bullet to avoid being hit by a stray bullets.