₦airaland Forum

Please follow the post here

https://www.nairaland.com/2958697/3-ways-making-some-money

As we all know Bitcoin is the pioneer of all crypto currencies that exists today. The purpose of this post is to inform the readers of 3 ways to make money from bitcoin and other cryptos called alt coins. Get more information about alternative coins at coinmarketcap.com

1. MINING: This is a way of getting these coins and then sell it. it does not come that cheap though. Mining is simply solving complex mathematical problems with the help of your computing power and get rewarded with these coins for solving the problem. In the past it was very easy to mine bitcoin with your laptop. Its a different ball game now because the difficulty rate of solving those maths problem is very high now and requires high end machines to do that is if you want to go solo.
you can join mining pools to get this coins if you cant go solo. if you want to make use of your laptop to mine some alternative coins you can make use of minergate. i use it personally. i will post the link later or you can just google it and download it.


2. BE A SPECULATOR: There are many alt coins that have huge potentials in the future. E.g Ethereum. less than 2 months ago ethereum was sold for less than $0.6. It is now above $5. As a speculator what do you do with this kind of coin. simple, you buy them as there are cheap now and wait 3, 6, 9 or even 12 months before you sell. trust me you wont regret it. There are some alt coins that show a lot of potentials too. Do your research and buy them cheap now and keep. Good luck.

3. BE A CRYPTO TRADER:This is the best and easiest way of making more bitcoin and money. This is similar to FOREX but different in that crypto trading has high volatility and that is where the money is VOLATILITY. I am involved in crypto trading full time. Ever since i started about 5 months ago i have no regrets.

just like FOREX there is a trading pair eg usd/eur , usd/gbp etc. In crypto trading you have pairs like btc/usd, btc/eur, btc/ltc , btc/eth and so on. There are more than 50 pairs you can trade in different exchanges on the net. Just do your research well and decide which is ok for you.

The question is how much can i start with. The good thing i like about crypto trading is that you can start with any amount and you can cash out anytime. I will want to stop here for now.

From time to time i will be posting all i know and think is relevant to crypto trading.

feel free to ask any question relating to trading cryptos and i will be glad to assist with what i know. The information is free and i am not selling any eBooks or asking you to send your email or any scheme to ask or solicit for money.

Please i may be booking a lot of space for this purpose. thanks

success993:
bro, pls can we chat on whatsaap, please....

sory bro people of the underworld have taken my phone. check my signature for no to call

einsteino:
Sorry o. I know I have being bugging you. please where do you buy your bitcoins and at what rate?

sorry for late reply. i buy from cex.io with my debit card at the prevailing market price irrespective of how much my bank charges at that point. But the catch is that i am involved in trading bitcoin and when ever i make profit, i simply sell my profit which cushions and cover for the high exchange in the first place.

I have received the funding.

thanks

ok

hello sir,

i sent 0.15 bitcoin and i am yet to be funded

I just came accross this article onliñe and i was like. This might make sénse for nigeria toó.
Just an opinion



Now Reading: ChinaCoin: People’s Bank of China Plans National Digital Currency
Wall StreetTechnicalExchangesMiningBlock SizeStoreAboutContact

ChinaCoin: People’s Bank of China Plans National Digital Currency
by Giulio Prisco4:37 PM WAT
January 28th, 2016

The People’s Bank of China (PBOC) is studying the prospect of issuing its own digital currency and is aiming to roll out a product as soon as possible, Bloomberg Business reports. PBOC, China’s central bank, is persuaded that a state-backed digital currency could reduce capital outflow, money laundering and tax evasion, make economic activity more transparent and improve the efficiency of global transactions.
The creation of China’s state digital currency was discussed at a meeting in Beijing, attended by digital fintech experts and high level authorities including PBOC Governor Zhou Xiaochuan and Deputy Governor Chair Fan Yifei. The PBOC’s official statement is in Chinese only, but Chinese speakers have confirmed that the automatic translation provided by Google is reasonably accurate and understandable.
A research team including experts from Citigroup and Deloitte has been looking into digital currencies since 2014 and has achieved some encouraging initial results. This team is now expected to “set up clear strategic objectives for digital currencies issued by the central bank, and develop key technologies and applications aimed at an early launch of a digital currency issued by the central bank.”
Hao Hong, chief China strategist at the Bank of Communications, said China’s attitude toward digital currency had been shifting, South China Morning Post reports. In 2013, the central government issued negative statements on Bitcoin and limited its use by banks and payment service providers, but now it seems that the wind is changing.
“The attitude toward digital currency in China has been shifting, it has been surprising,” said Hong. “Back then it was quite hostile. Now, facing capital outflow pressure, a digital currency would make it easier to check the capital flow.”
An estimated $843 billion of capital flowed out of China in the 11 months through November, according to a Bloomberg estimate, and capital outflow results in rising interest rates and economic slowdown. Foreign transactions in a digital currency based on blockchain technology would be permanently recorded in a tamper-proof blockchain and traceable back to the persons involved. However, it seems likely that, if the Chinese government introduces an official “ChinaCoin,” wealthy Chinese will just use other means to take capital out of the country, including next-generation privacy-preserving digital currencies like Zcash .
According to the South China Morning Post article, a digital currency could be popular with Chinese consumers, as payments for goods and services are increasingly becoming digital with new applications and online players entering the potentially lucrative sector.
“[A cryptocurrency] can be popular among the people [if] it’s endorsed by the government and convenient to use with new technologies,” said Zhang Weichao, director of mining at leading Chinese Bitcoin operator Huobi.
“Right now it’s too early to see what effect PBOC’s move will have on China’s Bitcoin community,” said Wang Chun, co-founder of the mining pool F2Pool. “They could decide to let Bitcoin co-exist with its own digital currency, or chose to crack down on it.”
Besides being useful as a means to control capital outflow, a state cryptocurrency would also allow China to challenge the hegemony of the U.S. dollar.
“The U.S. dollar has the luxury of pricing everything, every commodity, in U.S. dollars,” said Hong. “That is why it can maintain a power grip on the global economy.” China’s efforts in this direction have made little progress so far, and a state-backed digital currency could help. However, Hong cautioned that would take time.
Ecuador became the first nation in the world to issue a government-backed digital currency last year, telling all of the country’s banks to get on board. There have been rumors of “Fedcoin” in the United States and some kind of “Eurocoin” in Europe. Yanis Varoufakis, the former Greek finance minister, proposed a cryptocurrency dubbed Future Tax Coin (FT-Coin). Other countries including the Philippines are studying the possibility of rolling out official digital currencies. According to some Chinese economists, digital money is the future, and China should take the lead.
“China must seize the first-mover advantage to get on board,” said Hu Zhibing, the chief operating officer at Haoyouqian, a crowd-funding startup in Beijing. “The central bank would be blamed by the whole nation if other countries moved ahead while China lagged behind.”
If Chinese authorities choose to push ahead and proceed with the creation and deployment of ChinaCoin, it seems plausible that the impact could be quite disruptive.


Source


https://bitcoinmagazine.com/articles/chinacoin-people-s-bank-of-china-plans-national-digital-currency-1453995450?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+BitcoinMagazine+%28Bitcoin+Magazine%29

For all of you that want to know how much your bank charges your debit card in every currency u can tink of real time. This is what i do to check. Before using any of my card.

Register at bitgold. Com

Then purchase bitgold worth 0. 001grams. Thats abat $0. 04. When charged , just calculate d diffrence of previous balance nd present balance.

You decide to be charged in any currency of your choice.

This way you can know what ur bank charge you.

Note. 0. 001gram of gold is abat N10 or so.

If N10 is not a big deal for you to get this info real time then go ahead and try it.

That is how i personaly know exchange rate in any curréncy real time

skyhighweb:
are they not working any more? bussiness done fall for me school fees is now a issue for me

am in india is there other ways to receive money?

it is not difficult.

Tell your relative or friend that want to send you money to buy bitcoins and send to you.

within 10 to 30 minutes you will receive your money.

einsteino:
Please what is the max transaction limit per day

$1200 ATM
$3000 internet use

sawrgy:
What business can I start with #3m, am currently working but am getting irraitated everyday I set out for
work everyday. After 10 years no promotion I no longer derive joy, I am been underutilize because I know
my worth. I will appreciate any idea shares. Thanks

Invest some of it in bitcoins and alt coins.

There are actually 3 ways you can profit from it.

I will like you to do a personal research on bitcoins. What it is all about, then check out the trend in terms of the price for the past 4 months. Then you decide if it is worth it.

If you are convinced. Then I am willing to tell you and show you how Here on the tread.

Everything will be explained here on the thread.
No selling of ebooks or call or text me kind of stuff

I will explain and you can ask question freely. This way many others could learn too


Cheers

Gtb $1 -N284.92553. Few mins ago

Dats is d Cbn rate. Which is not a true reflection when you use your debit cards.

I used my access debit card for a transaction and I was charged

1 candian dollar / N198..52

that's about 29.3% for conversion fee as opposed the 3% to 5% international standard.


I was just wandering if foreign banks were to charge this unreasonable fee to convert their EUR to USD and vice versa

This is my own contribution.

Give me some likes if you agree

Bitcoin:
We are still in the legal phase of this venture. We shall be going live early 2016 and we stand to benefit immensely from the recent restrictions placed by the CBN in regards to withdrawing dollars or making POS purchases via foreign eCommerce sites. Our platform will also make it easier and cheaper for those remitting money to and from Nigeria for business, school fees, medical payments and other transactions.

The beauty of bitcoin is the very fact that it operates irregardless of what the world's central banks choose to do. Central banks dictate how you can spend your money, they mismanage the economy which results in unprecedented inflation rates. Imagine you have N100,000 in the bank but that money is worth 50% less now due to a 100% inflation rate. In other words, that money doesn't have the buying power it did early 2014. So many economies around the world have been hit with very high inflation rates particularly countries dependent on Oil, ex Nigeria, Russia, Venezuela, Iraq and Saudi Arabia.

With our Bitcoin Remittance Gateway, we can circumvent these silly restrictions for literally 50% less fees than the usual Western Union, Money Gram, Wire Transfers and PayPal fees. I never gave up on my vision, the interests has been so high lately and we stand to sail these waves.

I want in to. What are the modalities involved to join your concept

suyamasta:
what are the fees like?

The value of these kind of cards are best maximised when shopping online or when you are in europe or usa.
withdrawing from nigeria atm will not be profitable. you will end up loosing because of conversion fee and unreasonable exchange rate in nigeria.

barikay:
can u withdraw from our ATM here with the card?

yes it should, but dont expect to get N260 to $1 exhange rate oo. you should be expecting btw N193 - N199 to $1

dmostcheerful:
please is there any bitcoin wallet that offers atm card that u can recommend.
I tried xapo but they don't send ATM card to Nigeria.

Yes there are, I just took delivery of mine yesterday from
bit-x.com

Check also
anxbtc.com
xmlgold.eu
ccedk

You can thank me later

I read a post of someone talking about redenominating our naira. I decided to do a search and discoverd that Ghana redenominated their currency. I also learnt that a former Cbn governor wanted to implement something like that.

I am not a financial expert in any way. But I have a question for all who know about money and finance.

Can this redenomination help our currency naira in anyway?

I am just to pained seeing our naira fall almost on a weekly basis.

If you feel it will work , give your reasons.
if you feel it will not work, I would appreciate your reasons too

Cheers to you all

To further expantiate on how bitcoin and a foreign debit or prepaid card can help in sending money abroad.

I will like to inform you that I just took delivery of a foreign debit card denominated in euro from a trading/exchange platform called. Bit-x.com. you can visit the site for yourself to see.I will post the pix of the card

Now the significance of owning this kind of foreign card can not be over emphasised . As we all know there are restrictions in the Nigerian banking system as regards international transactions.

With a foreign card like this you can do the following

1 shop online above $300 limit placed on our Nigerian debit cards.

2. You can also withdraw from atms abroad above the $300 limit restriction.

How do you fund your bit-x.com account? That is what I trying to pass around since the begining of this thread. BITCOIN.

Once your bitcoin arrives at your bit-x.com bitcoin wallet, you simply trade for USD or EUR at the prevailing market price. Remember at this point your bit-x.com debit card is already linked to either your USD or EUR wallet.

You are now ready to spend online or withdraw from any ATM accepting MasterCard.

It can be any simpler than this again.

Cheers