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10 Best Ways To Make Money Online In Nigeria ( 2022)
The pandemic has certainly opened our eyes to the best ways to make money online in Nigeria. Making money online appears…
The pandemic has certainly opened our eyes to the best ways to make money online in Nigeria. Making money online appears to be a great way to earn a few more dollars, especially since most of us live our lives on our smartphones.
We are in a moment where many people’s desire is to live in Nigeria and earn money in dollars. With the high dollar-to-naira exchange rate, a few dollars will alter your life in Nigeria for the better and make you comfortable.
Although, there are a variety of reasons why you might think about making money online. As a student, you can make extra money to help support yourself while you’re at school. If you’re looking for a job, the internet gives you the opportunity to be your own boss. If you want to, you can make money on the internet. There are no limits to what you can do.
In this article, we will discuss the 10 best ways to make money online in Nigeria, especially from the comfort of your cushion. It really not easy but you must be ready to trust the process.
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Table Content
10 Best Ways To Make Money Online In Nigeria
10 Best Ways To Make Money Online In Nigeria
1. Amazon KDP
One of the best ways to make m money online in Nigeria is with Amazon KDP. Amazon’s Kindle Direct Publishing offering lets independent authors reach people all over the world without having to go through a traditional publisher. You can self-publish your book on Amazon using Kindle Direct Publishing (KDP) and start making money in as little as 24 hours.
Anyone can create an author account, upload their book files, and sell their book on Amazon in a matter of hours – all for free. It’s the easiest platform for self-publishing authors to use. You can watch free tutorials on Youtube on how to publish your low content, no content, and content books with KDP. It is worth it.
Right, it sounds a lot better than waiting months or even years to locate an agent, sign a book deal, and go through the rigmarole of traditional publishing for a printed book.
Key Takeaways –
- You can keep more of your money with Amazon. A great deal more.
- Amazon’s Kindle store has a massive reach, with over 90 million Prime customers in the United States alone.
- Amazon KDP self-publishing is totally, positively, 100 percent free.
- If you put in the work and trust the process, you can make some dollars from KDP.
2. Blogging
In Nigeria, blogging is still the most popular way to make money online. This is Nigeria’s best and most popular online business, and anyone can do it.
The purpose of blogging is to share knowledge. It might be about anything at this point. Anything goes, including news, politics, sports, animals, humor, and local stories. Anything can be the subject of a blog.
You get traffic to your blog after you start a blog. Then you may monetize your blog with Google AdSense, affiliate marketing, and other techniques.
Anyone can now build an audience and make a lot of money from their blog by producing great content. In contrast to acquiring information from a company blog, bloggers use a more personal approach that resonates with their target audience.
The great thing about blogging is that if you work hard and develop a solid foundation for your blog, you can earn money while you sleep. You will notice cash in your AdSense account when you wake up.
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Key Takeaways –
- Blogging is the most popular way to make money online in Nigeria
- Only by producing great content will you make money from it
- If you work hard and trust the process, blogging will fetch your dollars for the rest of your life
3. Crypto Arbitrage
Crypto arbitrage is another interesting way to make money online in Nigeria. It is a form of trading method in which investors profit from minor price differences between digital assets traded on several markets or exchanges.
Crypto arbitrage trading, in its most basic form, is the process of buying a digital asset on one exchange and selling it (almost) simultaneously on another with a higher price.
Because of the price differences between the same cryptocurrency on different exchanges or markets, arbitrage is conceivable. As you may be aware, the cryptocurrency market is continuously expanding, as evidenced by the fact that a new coin is introduced every day. The market is growing in size, as well as the number of new market entrants.
Key Takeaways-
- Arbitrage is the process of purchasing and selling crypto assets in multiple marketplaces at the same time.
- Investors wishing to make high-frequency trades with low-risk profits might consider crypto arbitrage trading.
- For many arbitrage traders, Binance P2P, Binance’s official peer-to-peer marketplace, is a popular platform.
- Arbitrage isn’t new outside of crypto; it’s been employed for decades in traditional markets like stocks and bonds.
4. Affiliate Marketing
This is a very safe and secure method of earning money online. This is something you should consider if you are strong at marketing or selling. If you have charisma and are a good conversationalist, affiliate marketing is something you should carefully consider.
So, how does affiliate marketing money works? To be added as an official affiliate, publishers or bloggers or individuals must apply for affiliate programs wherever they are offered.
Once you’ve been approved, you’ll be given instructions on how to share an affiliate link for the product or service you want to promote. (Remember to include a disclaimer!)
You’ll get credit for the recommendation as well as a commission if someone buys the product after clicking your link. The amount of the compensation is determined by the affiliate program and the goods being sold.
The truth is that many individuals nowadays buy all their items online. You can take advantage of it and make money online through affiliate marketing. Commission Junction, Impact Radius, Linkshare, Jumia Affiliate, Konga Affiliate, and Amazon Affiliate program are the most popular affiliate networks. It is what it is.
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Key Takeaways-
- Affiliate marketing is a very safe and secure method of making money online in Nigeria.
- Affiliate marketing growth can be inconsistent at first, but if you trust the process, and refine your strategies, it can turn into a lucrative source of passive income.
- With affiliate marketing, the most crucial thing to establish is trust from your audience.
5. Create A YouTube Channel
Vlogging, like blogging, is an excellent way to earn money online in Nigeria. You have the option of vlogging about your personal life or a hobby.
Starting a money-making vlog on Youtube is still the best way to go. With nothing more than your smartphone, you can now film unboxing films, product lessons, and funny acts. In addition, creating a YouTube channel is completely free. You can start a new channel with your name or a custom name by logging into YouTube with your Google account.
You’ll have various ways to make money as a YouTuber. You can start making money when Google starts displaying ads on your channel once you’ve got 1,000 subscribers. It is what it is.
Key Takeaways-
- You can start making money online in Nigeria with your Youtube channel with just your smartphone. Make videos, edit them to your taste, and post.
- Once you’ve reached 1,000 subscribers, you can start earning when Google runs ads on your channel.
- Trust the process, produce everyday meaningful content and build trust among your subscriber
6. Learn Forex Trading
Another interesting way to make money online in Nigeria is to learn Forex Trading. Buying and selling foreign currency to profit from an international foreign exchange market is known as forex trading.
The goal is to time the buying and selling of currencies, trading one against the other so that the trader profits from currency movements with minimal losses. If you’ve ever been outside of Nigeria, you understand how important foreign currencies and exchange rates are.
The first thing to do is to find a mentor and learn everything from the person. Locate a reputable Forex broker. And begin trading with a demo account.
Before you start trading with real money, you should always learn to be patient. Only when you’ve completed a sufficient number of free demo trades and created a successful Forex trading strategy should you contemplate trading with real money.
Key Takeaways-
- You can learn forex trading on your own, but it will take time and you may get burnt. You need a mentor
- Trust the process of forex trading and before you know it you will start making money online
- Over $6 trillion is traded every day in Forex global. Banks trade it but they won’t tell you, CBN trade it, and individuals like you trade it.
- Just find your edge.
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7. Content Writing
If you are that type that loves writing, you are moved by it, content writing can be the best way to make money online in Nigeria yourself. As a content writer, you’ll be able to find tens of thousands of jobs because demand is skyrocketing.
You might be surprised to find that the internet contains over 1.5 billion websites; people are in desperate need of writers because every website requires a content writer to develop website content, blogs, and articles.
Pay is determined by how innovative and unique your content is, therefore one is compensated based on the quality of their job. You can choose the task that best fits your schedule, but you must adhere to the writing rules as well as the deadlines.
But the best thing to do for yourself as a content writer is to develop a niche, an area of expertise, and creating strength in the same domain is recommended to multiply the income. You will get remote jobs or gigs in no time.
Key Takeaways-
- If writing is your area of interest, writing for the company’s blog may be a good way to start.
- You need a strong portfolio to be able to gain employment as a content writer.
- Build your profile and your brand, and create a LinkedIn account. And in n time, you will get the gig you desire.
- Trust the process and you will start making money online soon
8. Create an Online Course
I believe you are enjoying this post on the best ways to make money online in Nigeria, if so let’s keep the ball rolling. You can design an online course and get paid as long as people sign up for it.
This one stands out above all the money-making ideas since you are compensated for sharing your expertise. You may commercialize your expertise on a certain subject by developing an online course that includes tutorials, videos, and PDF downloads.
You can also sell your course on websites like Udemy, Vedantu, Byju’s, and others, or you can sell it on your own website if you already have an audience. It’s an excellent way to generate passive income because people will pay you for the course and ask questions about it in a specialized community.
I bought a course on Udemy on content writing and SEO this year, do you know what, somebody created that course, and you too can do the same in your area of specialization.
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Key Takeaways-
- If you have something to teach about, create a video or pdf course for it and sell it to make money online.
- Monetizing your skill is the best way to earn money online. Do you know why? You will be doing it with passion
- Selling courses is one of the best ways to make money online in Nigeria
9. Dropshipping
Dropshipping is a business concept in which you don’t hold stock of the things you sell. Instead, when a consumer purchases something from your site, the item is fulfilled and shipped by a third party. Because the initial costs are inexpensive, it’s becoming a more popular way for both novices and experts to generate money online.
Dropshippers have a tendency to follow the current fashion trends. While there’s nothing wrong with riding a hot product wave to success, there are other stable product categories with similar prospects.
Key Takeaways-
- It is very easy with little eCommerce knowledge.
- Dropshipping is one of the best ways to make money online in Nigeria
10. Invest in Stocks
Investing in stocks in Nigeria is a terrific strategy to generate passive income. Begin by purchasing a company’s stock and then selling it when its value rises.
It can be difficult to get started, but there are numerous websites, podcasts, and YouTube channels that can assist you. They frequently offer tips, tactics, and insights into the greatest stock trading strategies.
An online stockbroker that facilitates transactions is the most convenient way to acquire stocks. You can even acquire stocks from a company in the United States from Nigeria.
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Key Takeaways-
- Leverage the power of compound interest. Use dollar-cost averaging. Invest for the long term.
- Take your risk tolerance level into account.
- Diversification and strategic asset allocation can help you achieve your goals.
- Investing in stocks is one of the best ways to make money online in Nigeria