CRYPTOCURRENCY BUSINESS – Cryptocurrency is one of the leading online business that operates globally and it is also confirmed to be one of the most legitimate online business so far available to make money both in Nigeria and the world at large. there are many cryptocurrencies available to trade.
Though unlike other online businesses where one can earn and get paid within a short period of time, cryptocurrency business doesn’t operate in that way. cryptocurrency business is also not a get-rich-quick scheme or business.
Now before we proceed on how to get started with cryptocurrency business it is important to give a brief explanation on what the term cryptocurrency is.
in a layman language, cryptocurrency can be said to be a digital or online assets/money which are stored in a blockchain.
Just like we have the naira and dollars currency which are physically visible for transaction, cryptocurrencies are usable or expendable online but can be converted to a withdrawable cash for offline spendings.
Cryptocurrencies are decentralized and stored in the blockchain. this means that cryptocurrencies are not regulated by any central body or authority all like the physical currencies like naira and dollars which are regulated by the Central Bank of Nigeria (CBN) or other central Banks.
Blockchains can simply Be said to be a place online where the cryptocurrencies are stored securely.
WHAT ARE THE TYPES OF CRYPTOCURRENCIES.
there are different types of cryptocurrencies available in the blockchain; but the most popular cryptocurrencies are Bitcoins, Ethereum, Like, Trons e t c.
unlike our physical currencies like the dollar and the naira that fluctuate in value, cryptocurrencies also rises and fall in values. 1 Tron for example can be equivalent to $0.5 and by tomorrow it’ll rised to $1.
HOW DOES CRYPTOCURRENCY BUSINESS OR TRADING WORKS?
As the term implies, cryptocurrency business of trading is the act of buying and selling of cryptocurrencies.
As I have earlier explained that the prices of cryptocurrency rise And Fall just like the dollars and naira, so the logic involved in trading cryptocurrencies is to buy and stock them in your wallet when the prices are low and then resell them when the prices skyrocket or rise.
it is to be noted that cryptocurrency business is not a get-rich-quick scheme, so trading cryptocurrencies requires a lot of patience as the value of a cryptocurrency may even fall lower than the amount you bought them. in this case, you will need to patiently wait until the value of rise rise again before selling them.
WHAT ARE THE THINGS NEEDED TO START A CRYPTOCURRENCY BUSINESS:
There are no more things all requirements to start a cryptocurrency business all you need to put in place as listed below;
• Decision on the type of crypto currency to trade.
Once all these assets then you can proceed on starting your cryptocurrency trading.
HOW TO START A CRYPTOCURRENCY BUSINESS OR TRADING:
There are no more steps involved in starting a cryptocurrency business. The little steps involved are explained below;
1. DECIDING ON THE TYPE OF CRYPTOCURRENCY TO TRADE:
As I have earlier said that there are many cryptocurrencies available in the blockchain, you need to make decision on the type of cryptocurrency you would like to trade. Bitcoin, Ethereum, Litecoin and Trons are the popular cryptocurrency.
But here at DecentWorld, we advise our readers to start their crypto trading with Trons which is currently the cheapest popular cryptocurrency in the market.
1 Tron is currently between $0.028 to 0.35 (N13 to N20). Whereas 1 Bitcoin is between $11,600 to $12,000 while Ethereum is between $406 to $411. You can see that Trons is more affordable to start with.
2. DOWNLOAD A CRYPTO WALLET TO STORE AND TRADING CRYPTOCURRENCY:
There are many cryptocurrencies trading and wallet app available for download on the Google play store. but our recommendation is the ROQQU crypto Trading APP.
Roqqu crypto app allows you to buy, sell and store cryptocurrency in a very secured wallet.
Once you have downloaded the app, install and open it then click on the create an account button. fill in your details to create an account.
HOW TO BUY A CRYPTOCURRENCY ON ROQQU (Ethereum, Bitcoin, Trons, Litecoin etc).
You can purchase your cryptocurrency directly from the ROQQU app, all you need to do is to fund of deposit an amount of your choice on your ROQQU app. kindly follow the steps below to deposit on your ROQQU account.
1. Open your ROQQU app. 2. Click On DEPOSIT.
3. Enter an amount to deposit (Minimum of N500 and maximum of N1,000,000). 4. Click on Proceed To Deposit.
5. select a payment method (Bank transfer or Card payment). • If you select bank transfer, make payment into the account displayed to you. • For card payment, simply enter your card details to complete payment. 6. Once payment is Successfully completed, your ROQQU account will be credited within a few minutes.
once your account has been created, you can follow the procedure below to purchase a coins (Cryptocurrency).
• Click On Buy/Sell.
• Click on Instant Buy.
• Choose The type Of Cryptocurrency to buy.
• Enter the Amount Of Coins you would like to buy.
• Click On Proceed To Buy.
• Confirm Transaction and click on CONTINUE.
• Your account will be credited within few minutes.
Now that you’ve Successfully purchased a crypto Coins, you keep an eye on the value of your choosen coins and once it rised up, you can resell your coins again and make profits.
To check for the value of a coin, simply click on the coins from the app home screen and the current value will be shown to you.
If you can be patient enough to store your crypto coins for a long period, then you’ll benefits more. this is because Trons for example will rise to $1 and above soon.
HOW TO SELL YOUR CRYPTOCURRENCY ON ROQQU.
• From the ROQQU app home screen, Click On Buy/Sell.
• Select the type of Crypto Coins to sell.
• Enter the amount of coins to sell.
• Confirm Transaction and click on CONTINUE.
• Your ROQQU account will be credited in few minutes. You can then transfer/withdraw the funds to your bank account.
HOW TO WITHDRAW FROM YOUR ROQQU ACCOUNT
There are many withdrawal options available on the ROQQU app, kindly choosen the one that suits you. But in our explanation, we’ll assumed you will want to withdraw to your bank account.
• Click On WITHDRAW from the app home screen.
• Choose a withdrawal method (Withdraw to bank account)
• Enter the amount to withdraw and click on PROCEED.
• Fill in your bank details to complete transactions.
• You’ll be paid in no time.
HOW TO SEND OR RECEIVE CRYPTOCURRENCY FROM SOMEONE
In case you would like to receive or transfer your cryptocurrency coins to a friend, simply follow the steps below;
• From the app home screen, tap on the type of currency you would like to send or receive.
• Tap On RECEIVE then your crypto address will automatically copied. you can now send the address to anyone willing to send a crypto coins to you.
• To transfer/Send, Click On SEND button. Now enter the receivers wallet address and the amount to send to complete transactions.
That’s all on how to Successfully start a cryptocurrency business in Nigeria, for More questions, kindly ask via the comment box below.
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