How to Make Money from Bitcoin in Africa

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Since its invention in 2008, most people around the world have been skeptical about Bitcoin. There has been an ongoing notion that digital currencies are a bubble that will soon burst. However, cryptocurrencies seem to be a concept that is here to last. In fact, reputable companies such as Microsoft, BMW, Etsy, and Shopify accept Bitcoin as a means of payment. With these facts in mind, it is now the time to embrace cryptocurrencies and find a way to benefit from the growing digital currency world. In this article, we will focus on how to make money from Bitcoin in Africa.

Bitcoin isn’t a scam, but you should be careful with Bitcoin transactions. Bitcoin-related scams on the internet are on the rise. Take your time to familiarize yourself with the Bitcoin industry before you get involved.

Buy and hold

The value has increased tremendously over the past decade to the current price of about $15,897. A review of 5-year Bitcoin performance will show a feasible opportunity to make money from Bitcoin. For instance, if you had purchased one Bitcoin on 2nd January 2017 at the price of $827.60, your investment would now have yielded over $15,000.

The good thing about purchasing a Bitcoin or any other cryptocurrency is that you can buy a portion of a Bitcoin. Depending on your budget, you can buy as low as 0.00000001 Bitcoin. To make a substantial amount from this approach, don’t be quick to sell the Bitcoin. There are various Bitcoin exchanges that allow you to buy or sell the crypto in Africa. Coindirect, Bitpesa, and Paxful are examples of such platforms.

Bitcoin trading

Bitcoin trading is yet another way to make money from Bitcoin in Africa. Just like the usual forex trading, you make money by speculating on the price movements of the cryptocurrency against fiat currencies such as the U.S. dollar. All you need to do is to open a trading account with a broker of your choice, fund the account, and decide on whether to go short or long. However, it is important to take a substantial amount of time on a demo account to acquire the knowledge and skills needed to trade profitably. AvaTrade, eToro, and IG are some of the brokers that offer the crypto trading option.

 

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Write about Bitcoin

There is a growing number of people across the world who are interested in different aspects of cryptocurrencies. In this interest lies your opportunity to make money from Bitcoin in Africa. Upwork and Fiverr are some of the reliable platforms where you can start your carer as a cryptocurrency writer. With these sites, all you need is to apply for an account and wait for it to be approved. Upon approval, you get to apply for the numerous Bitcoin-related jobs posted by different clients.

Alternatively, you start a blog or YouTube channel whose focus is on cryptocurrencies such as Bitcoin. As the site becomes popular, you will make money via adverts, sponsored content, affiliate marketing, and viewership.

Do micro jobs

Micro jobs are small tasks that you get to complete for relatively small pay. The tasks, which are often online, do not necessarily require you to have ample experience and skills in a particular field. Since they are small jobs, you can complete several of them and make a significant amount of money.

While some micro jobs sites pay in dollars, some of them will send your earnings in the form of Bitcoin or other cryptocurrencies. Bitfortip, Coinbase, Bitcoinreward, and Bitvisitor are some of the sites where you can earn Bitcoins in Africa for completing surveys or other small tasks. Notably, there are numerous micro-jobs sites that offer crypto in exchange for the completion of microtasks. However, beware of scammers. It is important to do your due diligence by checking at the site’s reviews online.

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Bitcoin affiliate program

If you have an active social media account, website, or blog, you can make money from Bitcoin via affiliate marketing. Sites with an affiliate marketing scheme will pay you when you send clients their way.

As part of the affiliate program, you are required to post the availed referral URL on your communication platform. For instance, you can include it in an Instagram post. When one of your followers clicks on the link and purchases an item, you get a commission. As such, high internet traffic is all you need to make good money on an affiliate program.

Some of the sites with a Bitcoin affiliate program include Localbitcoins, Coinbase, Paxful, and AvaTrade.

 

Final thoughts

Digital currencies are no longer a bubble expected to bust in the near future. They have proved themselves to be a reliable form of exchange just like the fiat currencies. Notably, Bitcoin is the most popular crypto across the globe. Various companies have included Bitcoin in its ways of payment. If you are in Africa, take advantage of the trend and start making money from Bitcoin.

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