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How to use Bitcoin in Nigeria

Bitcoin Background: Below is every thing you need to know about Bitcoin in Nigeria

What is Bitcoin? In simple term, Bitcoin is digital money. It is a virtual currency that is created from computer code. Unlike a real-world currency such as the US dollar, the pounds or the euro, it has no central bank and is not backed by any government. Instead, it is controlled and regulated by community of users. Bitcoin cannot be seen in hard currency, touched or felt but it can only be used online. It can be used to purchase things online.

Bitcoin is majorly used in developed countries like Europe, North America, etc. Some popular online platforms accept Bitcoin as a means of payment such as (the popular Domain and web hosting dealer), WordPress, Reddit,,, etc. Research has it that bitcoin worth over 1.5 billion US dollars is in circulation worldwide.

Bitcoin is an open source monetary platform. The Bitcoin software can be edited by any software developer (programmer) in the world but the edit must be reviewed and accepted by many other developers before it is accepted. The Bitcoin users in the world have full control on how to use Bitcoin software and everyone in the community obeys the defined protocols. The software is downloaded and installed by users in mobile app or PCs. The software comes with the functionality of the Bitcoin Wallet which allows users to send and receive bitcoins. The bitcoin software can be downloaded at

Bitcoin runs under a system known as crypto-currency. Crypto-currencies only exist as computer codes; they are not less real than paper money is (fiat currency). And have the advantage that a very large sum can be carried around in your mobile phone, without inviting undue attention. The decentralized nature of bitcoin is another benefit it has over normal currency. Bitcoin is made possible by the blockchain technology created by the inventor, Satoshi Nakamoto. The most important benefit of bitcoin is the peer-to-peer nature without central governing body; it also involves the absence of a third party when sending money. The flow is usually from the sending wallet to the receiving wallet at almost no charge.

How to make Money from Bitcoin

There are majorly two specific systems in making money from Bitcoin and they include:

  1. Buying and Selling Bitcoin
  2. Mining Bitcoin

Buying and selling: Bitcoin is a digital currency used in the whole world. This means that anybody in the world can who has interest can buy or sell it. Bitcoin is rated with the monetary value BTC. Bitcoin just like any other trade that sells on forex appreciates and depreciates with regards to circumstances or events. The price bitcoin was sold as of 2009 when it was invented is quite different from the current price. In 2009 1 bitcoin was sold at 6 dollars, but its value rose to a peak of about $1100 dollars in 2014 before it went down to less than $300 dollars in 2015. Currently, as of August 25th 2016, 1 Bitcoin is equivalent to $576 dollars. Acquiring Bitcoin can be a good business as you can acquire them and then sell when the value is high.

  1. Mining Bitcoin: This involves a system where you use your computer and special Bitcoin mining hardware and software to compete with other numerous miners to solve some complex mathematical problems which are used to serve as protection for Bitcoin transactions. If you get lucky and your hardware cracks a problem, you will be rewarded with some bitcoins usually about 25 bitcoins per calculation. If you are very good, you can also form your own group or join groups of people to mine in a pool and then share the acquired bounty. It is quite easier to earn by joining a pool because mining block of bitcoins by yourself could be very tedious and time consuming, the payment might be small but it comes on regular basis.

To start up in mining bitcoin, the first requirement is to install bitcoin miner software on your PC. It is far better to practice with demo version before kicking off and at the same time research more on how to mine bitcoins.

After perfecting your practice, you can then acquire an online wallet where you will store your online earnings. The most popular wallet out there is After setting up the wallet, the next thing to do is to find a good Bitcoin pool to join that will help in advancing your investment. There are a lot of reliable bitcoin pools online such as Slush’s bitcoin pool; they prove to be one of the best. You can check google for other nice bitcoin pools.

Immediately after joining a bitcoin pool of your choice, the next thing to do is to register your wallet address in your bitcoin pool account. The process is easy and you can do it yourself without stress and assistance. After kicking off, you can recruit people to work under you in your pool account; it helps to increase your investment.

After setting up those to work under you and other needed things, you and your team are set to start mining bitcoins. If you gain experience with the demo version, you won’t encounter much problem along the line while mining bitcoins.

How to use Bitcoin in Nigeria

Bitcoin gains its popularity in Nigeria since 2015. Bitcoin is used by Nigerians to do online transactions. Some people are of the opinion that bitcoin might be an easier means of sending and transferring fund abroad; especially now that the exchange rate of dollar to naira is high, and the dollar scarce in Nigeria. As at August 15th 2016, Bloomberg updated that 1 Bitcoin is equivalent to 181,350.02 naira.

Some of the platforms where you can buy and sell bitcoin in Nigeria include;


To Buy Bitcoin in Nigeria, the following steps should be noted:

  1. Find a good and favourable Bitcoin exchange platform.
  2. Buy bitcoins by exchanging local currency, like the Nigerian naira for bitcoin.
  3. Transfer the bitcoins to your wallet.

Before buying bitcoins, understand that there is no official Bitcoin exchange rate. Bitcoin price indexes exist which pull data from the world’s largest Bitcoin exchanges to create an average. This gets close to a universal Bitcoin exchange rate.

Once you find Bitcoin exchangers in Nigeria; you have to compare their exchange rate on Bitcoin price index and see if it favours you.

Buying Bitcoin at Nairaex

To own bitcoin, you have to be a miner or receive it as payment; another way is to buy bitcoin with your fiat currency. To buy bitcoin is still a challenge to several African Countries, but it is made simple by a company like Nairaex in Nigeria. One thing is, it is better to buy from a tested and trusted organization like Nairaex which has been around for a while than to buy from an unknown an inexperience seller.


  1. The first step to own bitcoin is to create a bitcoin wallet account.

Every wallet has an alphanumeric code called the wallet address, and functions like your Bank Account Number. With your wallet address you can receive bitcoin into your wallet from anywhere in the world. You can Create a free wallet at

  1. Buy Bitcoins

You can exchange your cash for bitcoin and get them transferred directly to your wallet anywhere in the world. Bitcoin is available for sale in Nigeria at

  1. Sell Bitcoins at Nairaex
  2. Simply create an account at, in order to convert your bitcoin to Naira in Nigeria
  3. Fill in your account number into your nairaex account in the payment information tab.
  4. Go to the dashboard and select ‘sell bitcoin’
  5. Input the bitcoin amount you intend to sell.
  6. A bitcoin address would be displayed for you to transfer the bitcoins to.
  7. Within few hours your naira would be paid into the account you provided.

NairaEx is a leading Nigeria-based e-currency exchange that allows customers to buy and sell Bitcoin with Nigerian Naira at fair and competitive market rates via bank transfer and fast withdrawal into any Nigerian bank. NairaEx started operations in 2015.


Bitcoin has lots of benefits as a digital form of currency, it allows faster means of transaction without outrageous charges, some other benefits include;

  1. Bitcoin can be used for paying bills, shopping and making remittances on websites that accept it as a form of payment.
  2. Recently, due to the increase in the price of dollars and its scarcity, most parents find it hard to remit money to their wards studying abroad but with Bitcoin, student in the diaspora can now receive fees and allowances almost instantly from their parents, Medical bills can easily be paid for aged parents remitted within the shortest period of time. Also People in diaspora can through this means send money easily to their family in Nigeria.
  3. Online Investment: Trading bitcoin is just like trading forex, if you are good in it, you can make money due to how volatile the price is in the market.
  4. Through use of Bitcoin, Businessmen and women in Nigeria can easily send funds to their business partners in other parts of the world without any delay or waiting for banks to process the payment.
  5. For Nigerians who are into freelance service delivery online such as graphics design, data analysis, article writing etc. With Bitcoin it is quite easier for the funds to be easily transferred to their Bitcoin wallet without any delay.
  6. Those Nigerians that participate in MMM can use Bitcoin to provide help as well as get help

With these benefit and more, it can be seen that bitcoin can be of great help in terms of fund transfer and business transaction but before trading on Bitcoin, make sure you make a lot of research on how to conveniently run your bitcoin wallet to avoid losing your money. \

How can one compare bitcoin to Web Money and Perfect Money? Maybe this will be a topic of another day.

You have comment or questions regarding the use of bitcoin in Nigeria, you can use the comment box below to ask.

How to create a blog that makes money in Nigeria (free beginners guide)

Do you want to create a blog that pays? Are you interested in having a blog that makes money for you in Nigeria? Do you wish to start your own blog but you don’t know how to go about it. Calm down!  This post is for you!


In Nigeria, more and more people are starting blogs every day. It seems that every person even company’s businesses has a blog these days. The rate at which Nigerians create blog is undoubtedly high. This is due to the widespread claim that blogging is one of the lucrative means of making money online.

You have been hearing of this blogging thing and making money online. Now, you want to give it a trial… get started with your own blog!

Can I create a blog that makes money? I’m not an internet Guru!

Don’t border, even if you don’t have any knowledge of the internet. You will learn on the course!  Top Nigerian Millionaire bloggers like linda ikeji, Jason Njoku, Emma Onwuka…to mention but a few are never internet guru but they are making six figures on monthly basis. There is that tendency that you will join them if you create your own blog today.

I don’t write to motivate you but to guide you on how to start your own blog that makes money for you.  So, in this mega post; I’m going to work you through 10 simple steps of creating a blog that makes at least $1000 (₦200, 000) in 2 months.

10 quick steps involved in creating a blog that makes money

If you don’t own a blog yet and you are wondering how to create one that makes money, here are 10 quick steps you’ll follow:

  1. Set your blog goals and objective
  2. formulate your blog operational strategy
  3. Research for a profitable blog niche.
  4. Get a domain name and blog host from and install WordPress as your blogging platform.
  5. Choose a theme and decide on branding your blog logos and colors.
  6. Add SEO plugin like sitemap, All in one SEO etc. to your blog to get your blog index by search engines.
  7. Add an opt-in form to start collecting email subscribers.
  8. Use keyword research tool like Google adwords to analyze competitive keywords.
  9. Start publishing quality content that people will find valuable and useful.
  10. Build traffic and start Making money.

The content below will go into much deeper detail about creating a blog that makes money. I included bunch of helpful resources.

First, why do you need to create a Blog?

  • To turn passion into profit: This is why I created my own blog. If this is your ultimate reason for creating a blog then you are on the right track. If it is not, retrace your step. Period! Passion comes when you are being your authentic self and doing what comes naturally to you. When what you do is in alignment with who you are, you get energy from doing it. I’m very fortunate. I’ve found passion in blogging and I’m living it out every single day. And let me tell you –it feels incredibly fabulous to be able to make a living doing what you love. Blogging is not “work”, to me because it exciting, rewarding and interesting to do. It is not a “job” but a passion.
  • To meet new friends: Blogging in Nigeria or other parts of Africa can be fun but above all you will make a lot of friends from your readers who may turn out to engage you via comment.
  • To perfect your writing skill: When you write often, you learn to perfect your writing skill.

So, you want to create a blog? What do you need know before creating blog?

  • blog domain name is as important as your entire blog
  • long hosting period is a key to high blog ranking
  • WordPress blogging platform is the most widely used blogging platform                                            
  • A self-hosted WordPress blog is still your best bet

What are the things needed in creating a blog that makes money?

  • Best and profitable domain name.
  • Good hosting company.
  • Good blogging platform
  • Profitable blog niche area
  • Good writing skill
  • Email list
  • Traffic

Detail Steps involved in Creating a Blog that Makes Money

If you are really sure you want to create a blog that makes money, here is an in-depth detail on how to start the blog

  1. Set goals

The first step towards creating a blog that makes money is to set goals for the blog. Your success as a blogger is much more dependent on your blog goals. Setting goals and objectives when creating a blog gives you a clearer picture of your future blog. It provides you with both long-and short-term motivation. It helps you get focus, and to organize your time and your resources to make the very most of your blog. Your blog goals should be; Specific, Measurable, Attainable, Relevant and Time-bound.

  1. formulate blog operational strategy

How will you run the blog so as to make money from it? By formulating and developing blog operational strategies, you can examine and implement effective and efficient method for using limited resources-capital, writers and work process to achieve your goals. One good technique adopted by many pro-bloggers today is blog model technique. A particular blog is studied right from the time of creation to the time the blog starts paying off in spades. That particular blog’s strategy will be adopted by another blogger who tries to avoid mistakes and errors made by the model.

  1. Research for a profitable blog niche

Blog niche ideas abound! A little research can help you find a profitable blog niche.

  • Visiting popular forums like, nigeriabestforum, etc. can help you discover what people are seriously searching for.
  • Visit other blogs and check out readers’ questions and responses.
  • Join different social media where users comments.
  • Use your brain! You are not a dumb. List out twenty things you have search on the internet before. Start from there!
  1. Get a domain name (free) and blog host from and install WordPress as your blogging platform

Get a domain name that is fairly short, relevant to your blog niche, easy to remember or memorize and easy to say. Online users must be able to easily find your blog and pass it along by word of mouth to others. These days it’s nearly impossible to get fairly short top-level domain name. Online users who search for different types of business will usually search with more specific terms. A domain that specifies what type of business or information they looking for should be your best bet. Once, you have succeeded in getting a good domain name; host it!

A self-hosted WordPress blog is still best bet. Create and setup your own blog on your own host. I strongly belief that free blogs platforms like Blogger and even do not give you the control, ownership and branding options that you need. One thing I know for sure is that people using a free blog host will one day want to migrate it to their own host. And that can be an annoying process. It’s much better to get right way from the beginning.

  1. Choose a theme and decide on branding your blog logos and colours

Choose a responsive theme for your blog and customize it by adding navigations, unique logo and color. A responsive blog theme displays your blog well on mobile devices and this increases your blog’s Google mobile ranking. There are lots of free and premium responsive themes out theme.  Use whichever one you can lay your hands on. The only difference between them is theme customization support that you can receive from premium theme developers but never get from free responsive theme.

  1. Add SEO plugin like sitemap, all in one seo etc. to your blog to get your blog index by search engines

In other to increase the chance of Google indexing your blog pages and help search engines find all the articles on your blog, you need to add sitemap to your blog. You can do this simply by using Google sitemap plugin. Adding all in one SEO plugin to your blog will also help to improve blog’s search engine friendliness.

  1. Do competitive keyword analysis for your new blog post

Use Google analytic tool and other keyword research tools like Bing keyword tools to search for high volume but less competitive keywords. Virtually everything you intend to write now has been written before by someone that why keyword analysis is vital before creating a new post. With keyword analysis you can analysis how far your new blog post can compete with those authority site having similar articles on #1 search engine result pages (SERPs).

  1. Add an opt-in form to start collecting email subscribers

Money is in the list! Build an email list. Collecting email address of your blog readers is a pre-sale strategy.  Aweber and feedburner form are widely used for this. If you must create a blog that makes money, you need an email list. Most big time online businesses has email list. So, build one for your blog to join the big time online millionaire.

  1. Start publishing quality content that people is helpful

To create a blog that makes money, one most important thing you need is high traffic. Traffic pays!  Build your blog traffic first and you will see the money rolling in. High blog traffic= high $$$. To blog build traffic, you have to be publishing quality content that is helpful to your readers.

Write long content – Long content has been working for years  and will still be working. Neil Patel has talked about how well long content works for him and now even Google has launched an in-depth articles section on their search results. Forget about short little post updates you see on must blog and start working on longer content that solves problems and provides so much value that people can’t help but share it with their friends.

Apply Search engine optimization (SEO) – SEO is necessary for helping people find your new post! Applying little SEO techniques like deep linking your blog posts when publishing new post will improve your blog post ranking. With Google search console you can discover broken links; so sign up for Google webmaster tool.

Promote your blog and your new blog articlesFor some reason bloggers hate the idea of spending money on advertising. Use social media like Facebook page, Google+, twitter, Pinterest to promote your new blog content.  One way to bypass your competitors is to spend a little bit of money promoting your best work to a targeted group of people who are likely to be interested in your stuff.

  1. Monetize your blog

This is the point you have make the money. Don’t restrict yourself only to use of Affiliate marketing. Affiliates marketing alone will not earn you up to $500 in less than 2 months unless you are pro-affiliate marketer. Multiple stream of income is the ultimate. If you must create a blog that makes money, you have to monetize your blog using 3-4 different variable online income means such as;

  • Creating your own information product like valuable eBook that you can market on your blog.
  • Appealing for big time advertisers.
  • Using Google adsense

With the combination of above means of blog monetization, you are sure of making nothing less than $1000 (200K) in 2 months as a beginner

 The content above can be adopted by anybody who wants to create a blog that makes money. Where you are doesn’t matter. Whether you are in Australia, Uganda, Ghana, Russian, Europe, Saudi, Italy, Indonesia, Philippine, South Africa, India, UK, USA etc, you can still adopt the steps.

*Who can help me setup a blog?



We will take you through the practical process of starting a new blog to the point of making money with your blog. You can send us email at or use our contact form to send us email if you are interested.  For questions and comments, you can use the comment-form below.