The internet has become the new global centre of commerce, with over 1 billion monthly visitors, leveraging on the internet to seek information and businesses searching out customers and how to make money online. With huge traffic online it makes sense that there would be a lot of commerce online and knowing how to make money online using this traffic would be a needed skill set. Usually, wherever there are large gatherings of humans, the ability to make money emerges . For this reason, you have more chances of making money in New York due to its large population which presents large opportunities for business. In Nigeria, Kano and Lagos are its commercial centres due to its large population. It is also for this reason that the Super Bowl is the most commercially successful sports event in the USA with over 100m visitors. Whenever the human population amasses, the opportunities for commerce triple.
How to Make Money Online in Nigeria
Nigeria has the highest number of Internet users in Africa, with a volume of about 103 million internet users. This large volume of Internet users presents a huge possibility to make money online for Nigerians, and since the world is a global village, Nigerians can also look for opportunities outside of Nigeria to make money online in all parts of the globe. However, I advise making money online must be ethical. In the past, some have exploited the desires of others to make money online and sold fraudulent investment schemes to them. In this post, we would be looking at legitimate and ethical ways to make money online
- Purchasing and trading stocks online
Stock trading is a legitimate way to earn money online. Stocks represent percentage ownership in a company quoted on stock exchanges across the globe. Stocks have value, and depending on the performance of the company, you have taken a share of their stock, the value of the stock will either increase or decrease. Supposedly, I purchased a 200,000 unit share of company ABC at the rate of N5/share and the share of the company rises marginally by N3 to become N8 per share, you can quickly sell off your shares and make a whopping N600,000 instantly if your interest is in stock trading over a long term investment. If you are knowledgeable you can make huge money daily as you buy and sell off coins daily. You could also trade on various other financial derivatives
To trade in the stock market, you need sufficient knowledge and financial information to determine what stocks to purchase and when to sell off. Stock trading is highly volatile and risky. If you don’t have sufficient information, don’t trade. The Nigerian Stock exchange had performed above average and beyond it pears in the last one year. it is an exchange you should have a look at
To trade on the stock market, register with any approved stock broker and have access to their online trading platforms. In Nigeria, United Capital and Afrinvest are two platforms I am familiar with.
- Crypto Trading
Crypto trading and stock trading share a lot of similarities and operate on the same principles. The only difference is that crypto trading involves the trading of digital coins or tokens, unlike stocks that are shares of companies providing real time services or products. Crypto currencies are virtual but volatile currencies with the coins having no real use case at the moment. This volatility provides the opportunities to make money through it. To make money from crypto currency, you have to be able to predict the volatility of each token and take advantage of it.
As in stock trading, you must have a trading strategy before venturing into crypto trading. Do you want to hold the tokens and coins for how long? At what value do you plan to dispose of the coins and what coins you are targeting.
Cryptocurrencies are very volatile, and trading on it requires excellent knowledge on each coin you have an interest in and to know when to buy and sell
- Freelancing
Do you have any skills you think would be useful beyond your present location? The Internet has created a possibility for you to make money online with your skill anywhere without being physically present. The Internet has globalised the world and made connections easier, opening a vista of opportunities for different people across the globe. If you are a scriptwriter in a remote village in Nigeria, the Internet can provide you with the opportunity to sell your skills to those who need them in the UK, USA or any other parts of the world.
Freelancing is the act of working for a people and organisation without being a full-time employee. It is usually a short-term job focused on a specific task.
Whatever your skill is- Virtual Assistant, accountancy, project management, transcription – you can always find a freelancing job.
There are lots of freelancing websites for you to latch on to and offer your skills to make money online. Freelancer.com, Fiver, and Upwork are the most used in Nigeria.
- Content creation
If you are creative and have the ability to create engaging audio or visual content, then you have a huge opportunity to make money online. With monetisation on different media platforms such as YouTube, Instagram, and Facebook, you can earn by creating content that appeals to thousands and millions of people. Your content should be ethical and should either educate or entertain. Google and Meta algorithm favours entertainment and education.
Please note that the urge to create content should not trigger you to create unethical content or engage in spreading fake news.
- Blogging
Blogging is closely related to content creation only that, in this case, it involves texts and not audio or visuals. If you are a writer and have a flair in any niche of human endeavour, you can provide valuable information on that niche and publish online. The more people sought out your blog for readers, the more chances you have of making money online due to heavy human traffic to your blog. To be successful as a blogger, you must be dutiful and commit to publishing regularly on your blog. Your blog must also contain relevant information. Also, sufficient knowledge on search engine optimisation ( SEO) is also an added advantage.
As a successful blogger, you can also make money online through affiliate marketing and advertising.