As it stands right now, people are making money daily and growing their digital assets in Nigeria just by trading cryptocurrency.
You wouldn’t know unless someone told you and showed you how.
Do you know that you can be making 20,000 Naira daily in pure profit just by trading one cryptocurrency for another? You could be making cool cash by flipping cryptocurrency with just a mobile phone.
In this article, I’ll show you the different ways people are making money by flipping cryptocurrency and making daily passive income in Nigeria.
Trading Trendy Altcoins
There are altcoins, and there are altcoins.
While some are known as shitcoins, others put the pile in your pocket and get you smiling to the bank.
You can make good money daily just by trading trendy altcoins. These types of altcoins are ones that have a steady rising trend over weeks or months.
They could fluctuate and loose some form, but the larger trend is usually upward.
Savvy crypto traders trade these trendy altcoins with a compulsory stop-loss and a daily profit target to exit the trades.
It is not unusual for traders to make a 20% daily profit just by flipping a group of trendy altcoins at a go!
Buying the Dip
“Buy the dip!” “Buy the dip!”
That was the rallying cry in early 2021 when the price of Bitcoin started to drop. Only a few savvy investors harkened to that call, with the majority going all panicky and throwing their BTC to the dogs.
Well, crypto investors make money on a daily basis by using this same strategy. They buy low and sell high. It is a really common sense and universal trading strategy that can be applied in any investment endeavour.
The goal is to buy the lowest lows and wait for a jump. If the coin can hit a lowest low, there is no other way it can go than up, and that represents profit for investors that can spot the opportunity.
Fiat Pancake Trades
Can you hear the sound of that pancake being flipped on the frying pan by the chef?
Well, it isn’t pancake. It is fiat.
Crypto investors are making a killing by trading high volume fiat against as many crypto assets as possible.
Throughout the day, the buy/sell price of crypto assets fluctuate against fiats such as BUSD and USDC.
Now, what do you think of that? What does the fluctuation represent?
Well, investors are making volume trades by betting on some crypto assets. If at the end of the day, the greens cancel out the red, then they would have made a handsome profit.
Crypto Bandwagon Trades
Bandwagon cryptos aka pump and dumps.
These crypto trades are real and the profit is there for the taking. You only have to come in early and leave before the party is over.
When you see a lot of crypto enthusiasts unusually buying high volume of a particular crypto with a smile, then you know that the bandwagon has come home to roost.
What you do next with that information is up to you.