In a bid to make money while staying at home, here is one legit finance product plan we intend sharing for free to all those who will want to stay at home and make daily minimum of $5 dollars per day from spot scalping the crypto market on Binance.
Don’t worry if you are new to the crypto world, we shall be having a group chat at later time of which you can join to get in contact with us just after you might have gone through the article and still have one or two questions to ask from us.
We also intend making live zoom sections explaining how to buy and sell, and know the decimal signifies and the likes. (Basic things needed to note)
Information about cryptocurrency trading in Nigeria
Just to let you know, Crypto currency trading is the trending money well and yahoo yahoo, if and only if you are on the right track.
The major reason your country (Nigeria 🇳🇬) Government is fighting so hard to frustrate the crypto finance. Sorry i forgot I am a Nigerian (winks).
Data gathered suggests that despite the CBN directive, Nigerians are determined to leverage cryptocurrencies to increase their earnings, especially with rising inflation and limited access to foreign exchange liquidity.
In quote: Eric Annan, co-founder of cryptocurrency trading platform KuBitX said “The ban was never going to stop a ship that is far gone on sail,”…
Nigeria is further ranked top major crypto trading country in Africa, and every minute of the day, millions of Nigerians are still venturing into crypto trading despite the CBN crypto transaction ban.
Statistics gotten from news.bitcoin.com significantly tells that Nigeria P2P Volumes Surge immediately After Central Bank Directive.
In the meantime, the data shows that P2P volumes in Nigeria seem to have been boosted by the Central Bank of Nigeria (CBN)’s directive against crypto entities that was issued on February 6. As the Tulip data shows, Nigeria’s P2P bitcoin traded volumes in the past 90 days surged to nearly $100 million.
The figure, which is nearly two and half times more than that of second-placed Kenya, suggests more bitcoin users are now using P2P platforms.
Before we get started, it is right for us to let you know that, Crypto Currency trading 💹 is and will definitely play with your emotions and if you are not strong enough to defeat the emotions, it might hurt you and of which we advice you fight your emotions.
One good thing about Crypto trading is the fact that, whatsoever money you invest will never reduce. If it reduces it is certain it must bloom back, but patience is the key to crypto trading.
In crypto trading 💹, Whatever comes down must go up. Your (Capital) is secured and will grow as cryptocurrency tends to appreciate with time.
I have always wanted to learn crypto trading 💹, but it keeps looking so difficult to always start with. First started with Forex Trading 💹, but to God be the glory, I came out of it alive.
The fact Mr A is making millions out of Forex doesn’t guarantee Mr B will eventually make it also if he invests on that same Forex trading.
One bad thing about forex trading is the fact you can loose the whole capital and profit in minutes if not traded with caution.
You might be wondering what about Crypto currency trading, lol 😂. It is never like that of forex. There are two strategy to follow with while trading on crypto.
Using binance I will be talking about Spot trading 💹, because that is where I have been making my daily target of $5, and not being greedy to the market.
Kindly take out time to read every single word on this post and do not be in a haste to skip any table of content, in other for you to understand and win while scalping the crypto market. – Important Note
Requirements to get started with cryptocurrency trading on binance, Scalping and earning
Android/iPhone or a system/laptop
Good Internet connection
Valid ID card for binance identity verification
Capital NGN50000 (recommended). Note: Money is used to purchase the crypto you intend to start trading with.
Why spot trading?
It is safe to an extent, you get to purchase a crypto currency through available USDT or P2P buying and selling.
Once you have gotten the crypto currency on binance, the value of the crypto either appreciates or depreciates.
If it appreciates by NGN5000 and depreciates by NGN1500, and you decide to withdraw, you earned additional NGN3500.
A patient binance crypto trader may decide to leave the coin and if it appreciates more up to NGN10000, the impatient crypto trader regrets.
Reverse be the case if the patient trader still holds the crypto and it depreciates down to a – loss, him be patient will still pay as with time, it tends to appreciate back to value.
Differences Between Spot Trading and Futures Trading
Based on hints highlighted from the start, when it comes to cryptocurrencies, spot trading is the most basic type of quick money investment you can make.
This specifically implies purchasing crypto such as Bitcoin, XRP, BNB, LTC, PanCakeSwap etc, and holding it until the value appreciates or further using it to purchase other altcoins that you believe hopefully will rise in value due to market predictions or crypto news.
One good thing about Spot trade is the fact that at any point, you can decide to trade (buy/sell) any of these crypto currencies against USDT depending on the market trends you see or the strategies that you have and is ready to ride on.
Crypto Futures Trading:-
Trading contracts is a bit different than spot trading as you do not actually need to own the underlying asset. For example, let’s consider our GOLD/USD contract. When trading this product, you are not actually buying or selling gold itself.
However, the value of the contract is designed to follow the price of gold. This means that as the value of gold rises or drops, so does the value of the contract.
However, there are many more complexities involved in trading contracts, but the basic idea is that you bet on the price of an asset such as gold or Bitcoin either going up or down. Whether you profit or lose will depend on the accuracy of your prediction.
Since the price of cryptocurrency may rise and drop dramatically within a short time, it’s advisable to pay good additional attention to your investment policy.
From the difference aforementioned, it is safer spot trading 💹 than contract trading. So this answer the question why spot trading. For those who are professional traders and good trading analysts, hitting the contract trade market is very well okay as well.
For beginners wanting to make cool dollar or Naira, spot trading the crypto market by scalping is a safe and easy one if you follow the guidelines correctly and attentively.
Register on Binance
Firstly, ensure to register on Binance using droidvillatech referral link – Register Here (Ref code if requested – L34KDYH0)
Ensure to use real details while creating your binance account ( A valid email)
After successful registration, a mail will be sent to the registered email for email verification.
Once done, download the Binance app for either iOS or Android
Login to your binance account and proceed to binance account identity verification (Valid ID card front/back)
If your account is verified, you should get a mail of successful account verification and also on your account profile, you will see a Verified icon ticked (see image)
What next after creating a binance account and identity verification?
After successful binance registration and identity verification, you are expected to proceed to purchase preferred cryptocurrency you wish to scalp with.
As a beginner, we advise you choose a new crypto currency that is still appreciating. I personally scalp with XRP. Got 1 XRP for NGN350 and now it is worth NGN700+ and is still growing.
You can decide to purchase XRP, but your choice of crypto is recommended.
Spot trading in crypto market on Binance:-
In spot trading, as mentioned previously, you buy when depreciated and sell when it appreciates. This occurs in minutes and needs a lot of attention and patience.
For example: You buy 250 XRP at N200 for 1 each, in total your capital is NGN50000. Now XRP appreciates with N50 increase. It means 1 XRP now cost NGN250. Now do the calculation with me, NGN50 × 250 worth of XRP = NGN12500…
In just N50 XRP crypto appreciation you now have NGN12500 gain.
If you wish to scalp, you can decide to sell the XRP now it is at NGN250 per 1, and buy when it falls back to either NGN200 (Initial buy price), or at NGN210 to NGN220)… And continue process to increase profit..
You should be fast enough to calculate in decimal. (You see say, school no be scam las las).
What if you buy XRP at NGN200 and it depreciates to NGN150?
I know you wanted to ask, and here is the answer.
Don’t panic, be on guard as your crypto is still intact and will for sure appreciate with time. That is why we specifically stressed out the word “Patience“… You must be patient enough to enjoy spot crypto trading scalping on binance.
Here is profit made scalping the market as at yesterday 12th April 2021.
Spot scalping crypto in binance
Above image shows profit made yesterday, and this was in max 4hours. Profit seems small because of the capital used.
Capital wasn’t even up to N50000 worth of XRP. Now you see, imagine I used capital worth NGN200, 000 or more. The profit would have been ×4 more.
Another profit within 7days ( 6th – 12th April)
Scalping the crypto market
Within 7 days of spot scalping the crypto market, profit made was $67.77 which is equivalent to NGN32,665.
This doesn’t mean I had no loss. I actually did not have a loss, because I was patient enough to let the crypto appreciate back before I was able to buy again.
Summary of spot scalping the crypto market on Binance
In summary, patience, fast and accuracy while making buy or sell trades is very essential. Key to scalping the crypto market is Patience, Capital size and and crypto currency of which you intend to scalp with.
The main purpose of sharing screenshots is to encourage each and everyone of us to learn how to scalp the market and also to participate in the world of crypto technology.
DroidVilla revealing this to you will not stop the market from favoring us or paying us. So it is wise and will be appreciated if you share this to your friends and family members.
Crypto currency is the future 🔮 of next generation… Be safe and do ensure to trade with caution. Don’t be in a haste to make the money to avoid getting emotions.
Study trends, read about crypto online and be sure to follow us on all our social platforms to never miss alert of which cryptocurrency to hold, sell, or buy when analysed.
I am Nnoka Godswill also known as Favtechblogger, Droidvilla CEO!
A final year student in the University of Port Harcourt, studying Electronics and Computer Engineering.
Found passion in technology and decided to keep the world in touch with latest happenings around the world of technology.
Email author at email@example.com