Ways To Earn Passive Income In Nigeria With Ethereum, which one have you tried?

[CryptopreneurBrainboss]

Ways To Earn Passive Income In Nigeria With Ethereum
Credit: https://businesspost.ng/economy/11-ways-to-make-money-with-ethereum-in-nigeria/amp/

1.      Trading Ethereum:
One of the most straightforward ways to make money with Ethereum is trading. The basic idea is to buy low and sell high. You’ll need to find a reputable crypto exchange that supports Ethereum., and create an account. From there, you can buy Ethereum using Nigerian Naira (NGN) or another cryptocurrency and hold onto it until you think the price will go up. Then, you can sell it for a profit.

Keep in mind that the cryptocurrency market is highly volatile, and prices can change quickly. It’s important to understand market trends and do your research before making any trades. Consider using stop-loss orders to minimise your risk and protect your investment.

To get the most out of your investment, you must sell your Ethereum on the best crypto trading platform, Breet app. Breet is an OTC crypto trading app in Nigeria where you can convert Ethereum to Naira and withdraw your funds directly to your Naira bank account within seconds for no extra charge. Get started by downloading Breet today, and enjoy a seamless trading experience.

2.      Staking Ethereum:
Staking is another way to make money with Ethereum, and it’s a lot less risky than trading. Staking means holding onto your Ethereum and helping to secure the network by participating in consensus. In return, you’ll earn rewards in the form of new Ethereum. The more Ethereum you stake, the more you’ll earn.

To start staking, you’ll need a minimum amount of Ethereum in a wallet that supports staking. You can choose a staking provider or use a decentralised platform like Rocket Pool or Stakefish. Staking is an excellent option if you’re looking for long-term investment and passive income.

3. Participating in decentralised Finance (DeFi):
Decentralised finance, or DeFi, is a growing sector of the Ethereum ecosystem that allows you to earn interest and yield on your Ethereum and other cryptocurrencies. DeFi protocols like Aave, Compound and Yearn Finance allow you to deposit your Ethereum and earn interest, similar to a savings account. You can also earn yield by providing liquidity to DeFi exchanges, such as Uniswap or Balancer.

DeFi is a high-risk, high-reward opportunity, so it’s essential to do your research and understand the risks involved. Make sure to only invest what you can afford to lose and consider using stop-loss orders to protect your investment.

4.      Crypto Lending:
Crypto lending is another way to earn passive income with Ethereum. You can lend your Ethereum to borrowers and earn interest on your loan. This can be a great option if you have a large amount of Ethereum that you don’t need to sell right away.

Several platforms offer crypto lending services, such as Nexo, BlockFi, and Celsius. Keep in mind that crypto lending is a relatively new and untested market, so it’s essential to do your research and understand the risks involved.

5.      Mining Ethereum:
Mining is the process of creating new Ethereum by solving complex mathematical problems. The more computing power you have, the more Ethereum you can mine. You’ll need to set up a mining rig, which can be an expensive investment, but the rewards can be substantial.

Keep in mind that mining is a highly competitive field, and the cost of electricity and hardware can be significant. You’ll need to do a cost-benefit analysis to determine if mining is a good investment for you.

6.      Participating in Ethereum-based prediction markets:
Ethereum-based prediction markets, such as Augur and Gnosis, allow you to bet on the outcome of events and earn rewards based on your accuracy. You can participate in prediction markets by creating a market, placing bets, and earning rewards based on the outcome. This is a great option if you have knowledge or expertise in a particular field or market.

7.      Creating NFTs (Non-Fungible Tokens):
NFTs are unique digital assets that can be bought, sold, and traded on the Ethereum blockchain. If you’re an artist, musician or have another creative talent, you can monetise your work by creating NFTs. You can sell your NFTs on platforms like OpenSea, Rarible, or SuperRare.

8.      Earning passive income through yield farming:
Yield farming is a process of earning passive income by depositing Ethereum and other cryptocurrencies in liquidity pools and earning rewards for providing liquidity to decentralised exchanges. This is a high-risk, high-reward opportunity for those familiar with the DeFi space. Several yield farming platforms, such as Binance Smart Chain, allow you to earn rewards for providing liquidity.

9.      Investing in Ethereum-based startups:
Another way to make money with Ethereum is by investing in Ethereum-based startups. This can be a high-risk, high-reward opportunity, as startup investments are generally considered speculative. However, if you do your research and invest in a promising startup, you could see significant returns on your investment.

10. Earning Ethereum through content creation:
If you have a talent for writing, video production, or other forms of content creation, you can earn Ethereum by creating and sharing your content on various platforms. Some platforms allow you to earn rewards in the form of cryptocurrency for creating and sharing valuable content with the community.

11. Earning Ethereum through affiliate marketing:
Finally, you can earn Ethereum through affiliate marketing. This involves promoting products or services and earning commissions for every sale made through your unique affiliate link. Several Ethereum-based affiliate marketing platforms, such as Refersion, allow you to earn Ethereum for your marketing efforts.

Conclusion
In conclusion, there are plenty of ways to make cash with Ethereum in Nigeria. Whether you’re into trading, staking, DeFi, or something else entirely, there’s a way for you to get in on the action. The key is to do your research and understand the risks involved with any investment. But with the right mindset and effort, you can make the most of your Ethereum investment and grow your wealth over time. So, get out there and start exploring the opportunities!

DISCLAIMER: I haven't verified most of the means of earnings above so I can't vouch for them myself but I just want us to discuss on them so if anyone find them worth trying they can give it a go or if there's any you would advise against participating in you can go ahead and maybe save a soul from encountering losses. Do note that most so called evening opportunity are using not worth it on the long run so always do your own research before adventuring into any of them.

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[Mate2237]

In di forum and beyond, except bitcoin I have no idea in any oda cryptocurrency. So I even wan 2 learn odas but no platform which I can learn like btt. So I will want Brainboss to conduct training on oda Cryptocurrencies either WhatsApp of telegram. So dose who dey interested go go there dey know more on odas.

[Cryptomiles1]

From the quote, the writer is not even knowledgeable enough to advise people to hold altcoin instead of bitcoin. If that the writer is specifically saying about BTC it would have been a different thing join all their target was only centered on ETH there's no much expansion, do we talks about NFTs?
To me is the last thing I could ever do to venture into a merely piece of art works why not I spend all my money buying more bitcoin and hold since is more secure, reliable and even trusted. Btw where do we stake ETH on a Centralized Exchange where there's no assurance of your funds or what. You still remember the slogan here.. Not your key not your coin.

Maybe newbie might likely look into all these processes.

[Davidvictorson]

~snip~

This is an interesting list, Ethereum "Bitcoin's younger brother" is doing well. I could remember sometime ago in Nigeria, when Nigerians earned Ethereum through the Forsage. Note that Forsage was not a Nigerian start-up but na be put body pass. For those who do no know what Forsage is -  it was a fraudulent pyramid scheme launched on a massive scale and aggressively marketed to investors. In our local parlance it is bring 2 persons. Well, I know about 4young Nigerians that earned closed to 10000Eths in total just through this scheme. They cashed out big time. Although not specifically mentioned, multilevel marketing is one way people earn ed passive income in Nigeria some years ago.

Please I am not a fan of ponzi schemes neither do I participate in it.

[CryptopreneurBrainboss]

In di forum and beyond, except bitcoin I have no idea in any oda cryptocurrency. So I even wan 2 learn odas but no platform which I can learn like btt. So I will want Brainboss to conduct training on oda Cryptocurrencies either WhatsApp of telegram. So dose who dey interested go go there dey know more on odas.

You dun ask yourself if me myself I understand the other cryptocurency, I mean them dey in their thousands so it's unreal say person go sabi all but if you ask me I go tell you, focus on accumulating Bitcoin and you no go regret am. Now as you dey accumulate bitcoin just dey put head for the other cryptocurrency and take note of those wey you go look into. You see layer 1's (that's crypto that other crypto depends on their blockchain for operation) like dem Ethereum, BNB etc just dey observe them as those are good project for getting some good profits in bull markets. Also YouTube na your friends to understand the whole market but make sure say person wey you dey listen to dey really wan teach you and not selling some courses or shilling a project to you.

If that the writer is specifically saying about BTC it would have been a different thing join all their target was only centered on ETH there's no much expansion, do we talks about NFTs?
To me is the last thing I could ever do to venture into a merely piece of art works why not I spend all my money buying more bitcoin and hold since is more secure, reliable and even trusted. Btw where do we stake ETH on a Centralized Exchange where there's no assurance of your funds or what. You still remember the slogan here.. Not your key not your coin.

Again as I talk most of this means of earnings in the industry na just rubbish and the safest option in the market na to buy Bitcoin and hold but if you wan engage in the industry you can try some of the other stuffs out with only spare funds. Them no be totally rubbish as people dey talk but understand say you go probably lose your money than to profits. Also since most of this trends dey very new, scammers dey take advantage of am dey defraud people on a steady so it's best to stay away from them.

[Cryptomultiplier]

I have never really tried out any directly but indirectly I learnt a very good lesson from the Forsage saga sometime back. 
I have only gotten so far into just reading up and learning few pointers on NFTs, and still fascinated as how Etherum seems more dominant than Bitcoin in that aspect, or am I wrong?
I would acquire more coins in the future and invest more into increasing my passive income avenues, once the economy is more stable.

[CryptopreneurBrainboss]

This is an interesting list, Ethereum "Bitcoin's younger brother" is doing well. I could remember sometime ago in Nigeria, when Nigerians earned Ethereum through the Forsage. Note that Forsage was not a Nigerian start-up but na be put body pass. For those who do no know what Forsage is -  it was a fraudulent pyramid scheme launched on a massive scale and aggressively marketed to investors. In our local parlance it is bring 2 persons. Well, I know about 4young Nigerians that earned closed to 10000Eths in total just through this scheme. They cashed out big time. Although not specifically mentioned, multilevel marketing is one way people earn ed passive income in Nigeria some years ago.

Please I am not a fan of ponzi schemes neither do I participate in it.

Ponzi schemes are never an option when it comes to passive income. Irrespective of how lucrative it's for you, do note that you're ripping another man to get that bread whenever you're been paid. Ponzi follow for wetin increase the interest of Nigerians for cryptocurency and that's why many still think cryptocurency entirely na Ponzi and dem dey fear say e go crash like them ponzi schemes dem crash.

Ponzi scheme should never be a part of passive income options and most multilevel marketing businesses aren't truely what they claim to be. We dun run ponzi that year and we understand how the thing be. Infact most Altcoins wey dey market now na Ponzi like project dem be. E get one coin wey be dey top 20 for coin market cap dat year and na Ponzi e been be. The coin name was bitconnect but e dun crash now and na the fate of all Ponzi scheme be dat. If you wan earn, commot ponzi for mind as plenty other legitimately ways dey for the passive income business.

[Silver005]

You really done a good job by quietly sat down and explain all this to us especially the novice of crypto, will now know that there is other ways of making money apart from you individual business , and this is what we all want to be hearing or doing because it will help to reduce the unemployment ravaging the country, and I will still like you people if you can create a platform where people can be learning about the crypto currency exchange on how to trade on it,it would have been lovely, please people are passing through hell here in Nigeria..

[Merit.s]

The truth be say,me I no even know say other crptocurrency dey wey also the price dey go up and down wey get value like bitcoin. I get one ether wallet wey dey always give me signal when ethereum price drop or high,but I no dey reason am,since everything wey this forum dey emphasize more na btc. E good make we also try some crptocurrency to see whether we go fit benefit from am when the price dey the bull run. The problem be say as a newbie I no sabi trade but those information wey you don drop for here,I go try see whether I go fit learn trading, so that make I join that for my hustle.

[cytpoway121]

For me; i think say the writer get very good intentions and approach when e de put down those ideas; the only thing be say the writer no apply 9ja realities to the article. so to epp the writer small, i go summarize the points into nigeria reality and basic need too

Ways To Earn Passive Income In Nigeria With Ethereum
Credit: https://businesspost.ng/economy/11-ways-to-make-money-with-ethereum-in-nigeria/amp/

1.      Trading Ethereum:
2.      Staking EthEreum:
3. Participating in decentralised Finance (DeFi):
4.      Crypto Lending:
6.      Participating in Ethereum-based prediction markets:
7.      Creating NFTs (Non-Fungible Tokens):
8.      Earning passive income through yield farming:
9.      Investing in Ethereum-based startups:
10. Earning Ethereum through content creation:
 

For the options 1,2,3,4,6,8,9 na something wey every individual fit do for their phone; with a smart phone, person for 9ja fit learn and start to trade, stake, lend, predict and do yield farms on the ethereum networks and more blockchain networks. E de easy because with just metamask; you are good to go.

Ways To Earn Passive Income In Nigeria With Ethereum

7.      Creating NFTs (Non-Fungible Tokens):   
10. Earning Ethereum through content creation:
 

To de do contest, create nfts for ethereum network; person need to get better camera and good editing skills; because for opensea; nft plenty; the better your story, capture and unique contents the better you fit earn for there; if na those top top smartphone you de use, my brother uno get wahala at aall (bcus those phones na camera dem be theirselve

[I_Anime]

1 Ethereum is a good altcoin it has good use in Blockchain but what affect people some time in using it is the gas fee. If you don't have good capital don't trade Ethereum except you are using CEX like binance or  Kucoin.

2 Staking Ethereum is better when you have high capital but there are basically two ways of staking I.e the Locked and Flexible one
Locked staking refers to saving your coin for a  certain time frame while flexible staking refers to saving your coin and you being able to collect it at any time. Locked staking brings higher returns than flexible staking
Check the link to know how Ethereum staking works and the risks https://help.coinbase.com/en/coinbase/trading-and-funding/coinbase-earn/eth-2-0-staking


3 Ethereum mining is no longer possible because of Ethereum 2.0 which changed the consensus mechanism for Ethereum from proof-of-work to proof-of-stake


This are the ones I can speak of at the moment though

[KupaCrypto]

In di forum and beyond, except bitcoin I have no idea in any oda cryptocurrency. So I even wan 2 learn odas but no platform which I can learn like btt. So I will want Brainboss to conduct training on oda Cryptocurrencies either WhatsApp of telegram. So dose who dey interested go go there dey know more on odas.

You dun ask yourself if me myself I understand the other cryptocurency, I mean them dey in their thousands so it's unreal say person go sabi all but if you ask me I go tell you, focus on accumulating Bitcoin and you no go regret am. Now as you dey accumulate bitcoin just dey put head for the other cryptocurrency and take note of those wey you go look into. You see layer 1's (that's crypto that other crypto depends on their blockchain for operation) like dem Ethereum, BNB etc just dey observe them as those are good project for getting some good profits in bull markets. Also YouTube na your friends to understand the whole market but make sure say person wey you dey listen to dey really wan teach you and not selling some courses or shilling a project to you.

If that the writer is specifically saying about BTC it would have been a different thing join all their target was only centered on ETH there's no much expansion, do we talks about NFTs?
To me is the last thing I could ever do to venture into a merely piece of art works why not I spend all my money buying more bitcoin and hold since is more secure, reliable and even trusted. Btw where do we stake ETH on a Centralized Exchange where there's no assurance of your funds or what. You still remember the slogan here.. Not your key not your coin.

Again as I talk most of this means of earnings in the industry na just rubbish and the safest option in the market na to buy Bitcoin and hold but if you wan engage in the industry you can try some of the other stuffs out with only spare funds. Them no be totally rubbish as people dey talk but understand say you go probably lose your money than to profits. Also since most of this trends dey very new, scammers dey take advantage of am dey defraud people on a steady so it's best to stay away from them.

Me I find am very difficult to understand other altcoins, na only bitcoin I dey understand small small and still in the process of understanding,  but I go prefer ETH for other altcoins,
Anyhow na to put head for another one too but try they accumulate BTC, make e for sure from both sides .
BTC na the surest so na just to use other altcoins as side hustle, they push am together with your BTC, the altcoin fit goes well later who knows.

[Cryptomiles1]

If that the writer is specifically saying about BTC it would have been a different thing join all their target was only centered on ETH there's no much expansion, do we talks about NFTs?
To me is the last thing I could ever do to venture into a merely piece of art works why not I spend all my money buying more bitcoin and hold since is more secure, reliable and even trusted. Btw where do we stake ETH on a Centralized Exchange where there's no assurance of your funds or what. You still remember the slogan here.. Not your key not your coin.

Again as I talk most of this means of earnings in the industry na just rubbish and the safest option in the market na to buy Bitcoin and hold but if you wan engage in the industry you can try some of the other stuffs out with only spare funds. Them no be totally rubbish as people dey talk but understand say you go probably lose your money than to profits. Also since most of this trends dey very new, scammers dey take advantage of am dey defraud people on a steady so it's best to stay away from them.

I understand, that's why any hustle outside from this forum talking about investing or cryptocurrency is very risky to get involved. I really owe alot this forum because things that I have learned since I belong to this secret group can never be qualified with ordinary gain outside from this forum. However I strongly believe in buying and hold bitcoin than any other thing called investment platform.

[CryptopreneurBrainboss]

The truth be say,me I no even know say other crptocurrency dey wey also the price dey go up and down wey get value like bitcoin. I get one ether wallet wey dey always give me signal when ethereum price drop or high,but I no dey reason am,since everything wey this forum dey emphasize more na btc. E good make we also try some crptocurrency to see whether we go fit benefit from am when the price dey the bull run.

Wetin people dey talk normally na make we abandon all those shit coins but since majority of the altcoins for market na shit coins dem come dey generalized am. Ethereum na one coin wey person suppose dey look her way especially for trading. You fit get better money from trading am then buy more Bitcoin. Bitcoin for just dey like our savings account wey be say we no go touch that money unless we wan use am do another investment like landed investment etc

Here na we we dey so, so we go tell ourselves the truth, only Bitcoin no fit give you life-changing money especially if you no get better block to use invest so if you fit use other altcoins and personal business raise capital nothing spoil but make sure as the profit dey make you no forget the aim and only come dey focus for altcoins. If you do like dat na your own grave you dey dig because when the market wan dump, all the money you been dey think say you get go just disappear.

[Obari]

I been don dey reason to ask some certain questions about mining for the country if anybody for here to see any with Bitcoin or Ethereum farm for the country because that can business go be a nice one to tap into.

I wan also confirm if them still dey do cloud mining for Ethereum or Bitcoin? Because personally anything wey be cloud mining, no matter the coin you dey mine, I dey see am like say na total waste of time but e get this my friend wey seriously dey mine pi and even Ethereum with Satoshi so I been when know if those coins him dey mine dey valid?

[CryptopreneurBrainboss]

I wan also confirm if them still dey do cloud mining for Ethereum or Bitcoin? Because personally anything wey be cloud mining, no matter the coin you dey mine, I dey see am like say na total waste of time but e get this my friend wey seriously dey mine pi and even Ethereum with Satoshi so I been when know if those coins him dey mine dey valid?

Cloud mining na no go area right from time as 99% of them they turn out to be scam or just Ponzi scheme wey dey carry new recruit money used pay old members that's why them they always encourage referral and most earners wey dey advertise the business for you, na referral dey pay dem pass the business itself self. The 1% wey dey legit, the earnings wey you go get no make sense compared to you just investing that money in Bitcoin and taking profits after the coin pump.  Also Ethereum no dey available for mining again as na staking dem dun move to so any site wey dey promise you Ethereum mining na disguised dem dey do as dem either wan just steal your coins or dey into something totally different.

Me I find am very difficult to understand other altcoins, na only bitcoin I dey understand small small and still in the process of understanding,  but I go prefer ETH for other altcoins,
Anyhow na to put head for another one too but try they accumulate BTC, make e for sure from both sides .
BTC na the surest so na just to use other altcoins as side hustle, they push am together with your BTC, the altcoin fit goes well later who knows.

Actually to understand altcoins no hard, no just get feelings for them believing say na dis particular one go blow you. Just do research and invest in multiple only to take profits immediately your target are reached and if you notice things dey go sideways sell and move on. Altcoins na ideologies dem dey sell and not actual product because 99% of dem no get any project. So the best way to profits na to get in on the idea early then leave when you dun get a significantly good return. No go dey trust altcoins.