Economy
11 Ways To Make Money With Ethereum in Nigeria
You’re probably familiar with Bitcoin, but have you heard of Ethereum? Ethereum is a decentralised platform for building and running applications and is quickly becoming one of the hottest investment opportunities in the crypto space. If you’re looking for ways to make money with Ethereum in Nigeria, you’ve come to the right place. In this blog post, we’ll explore 11 ways to get started and make the most of your investment.
Imagine this: You’re scrolling through your social media feed, and you come across a post from a friend who made a ton of money with Ethereum. They tell you about this fantastic platform they used to invest in decentralised applications and make a fortune. You’re intrigued but also a bit sceptical – you’ve heard of cryptocurrencies, but you have no idea how they work.
That’s exactly how I felt when I first heard about Ethereum. But, being the curious person I am, I decided to do some research and learn all about it. And let me tell you, I was blown away by what I discovered. Ethereum is a game-changer, and I want to share everything I learned with you.
In this article, I’ll break down Ethereum in a way that’s easy to understand so you, too, can take advantage of its potential to make money. Whether you’re a beginner or just looking to expand your investment portfolio, this article is for you. So, sit back, grab a cup of coffee, water, tea or anything you want, and get ready to learn about the fantastic world of Ethereum and the different ways you can make money from it!
Overview of Ethereum
Ethereum is a pretty cool platform. It’s decentralised, which means it’s not controlled by any government or corporation. It’s also open-source, which means anyone can use and build on it. Basically, it’s a platform for creating and running smart contracts and decentralised apps (dApps).
So what are smart contracts? Think of them as computer programs that automatically execute when certain conditions are met. For example, you could use a smart contract to automate the exchange of money, property, or other assets between two parties. No need for a middleman!
Ethereum uses its own cryptocurrency called Ether (ETH) to power its network and execute transactions. And to keep everything secure, it uses a consensus mechanism called Proof of Stake, which is more energy-efficient than other methods.
In terms of dApps, Ethereum is a pretty big deal. It’s home to many decentralised apps, from games and social media to financial applications. And you can even create decentralised organisations (DAOs) that run on code rather than relying on a central authority.
So, that’s Ethereum in a nutshell! It’s a pretty innovative platform helping shape a more decentralised and open internet.
So, how can you make money from this cutting-edge cryptocurrency? Let’s find out.
Ways To Earn Passive Income In Nigeria With Ethereum
1. Trading Ethereum:
One of the most straightforward ways to make money with Ethereum is trading. The basic idea is to buy low and sell high. You’ll need to find a reputable crypto exchange that supports Ethereum., and create an account. From there, you can buy Ethereum using Nigerian Naira (NGN) or another cryptocurrency and hold onto it until you think the price will go up. Then, you can sell it for a profit.
Keep in mind that the cryptocurrency market is highly volatile, and prices can change quickly. It’s important to understand market trends and do your research before making any trades. Consider using stop-loss orders to minimise your risk and protect your investment.
To get the most out of your investment, you must sell your Ethereum on the best crypto trading platform, Breet app. Breet is an OTC crypto trading app in Nigeria where you can convert Ethereum to Naira and withdraw your funds directly to your Naira bank account within seconds for no extra charge. Get started by downloading Breet today, and enjoy a seamless trading experience.
2. Staking Ethereum:
Staking is another way to make money with Ethereum, and it’s a lot less risky than trading. Staking means holding onto your Ethereum and helping to secure the network by participating in consensus. In return, you’ll earn rewards in the form of new Ethereum. The more Ethereum you stake, the more you’ll earn.
To start staking, you’ll need a minimum amount of Ethereum in a wallet that supports staking. You can choose a staking provider or use a decentralised platform like Rocket Pool or Stakefish. Staking is an excellent option if you’re looking for long-term investment and passive income.
3. Participating in decentralised Finance (DeFi):
Decentralised finance, or DeFi, is a growing sector of the Ethereum ecosystem that allows you to earn interest and yield on your Ethereum and other cryptocurrencies. DeFi protocols like Aave, Compound and Yearn Finance allow you to deposit your Ethereum and earn interest, similar to a savings account. You can also earn yield by providing liquidity to DeFi exchanges, such as Uniswap or Balancer.
DeFi is a high-risk, high-reward opportunity, so it’s essential to do your research and understand the risks involved. Make sure to only invest what you can afford to lose and consider using stop-loss orders to protect your investment.
4. Crypto Lending:
Crypto lending is another way to earn passive income with Ethereum. You can lend your Ethereum to borrowers and earn interest on your loan. This can be a great option if you have a large amount of Ethereum that you don’t need to sell right away.
Several platforms offer crypto lending services, such as Nexo, BlockFi, and Celsius. Keep in mind that crypto lending is a relatively new and untested market, so it’s essential to do your research and understand the risks involved.
5. Mining Ethereum:
Mining is the process of creating new Ethereum by solving complex mathematical problems. The more computing power you have, the more Ethereum you can mine. You’ll need to set up a mining rig, which can be an expensive investment, but the rewards can be substantial.
Keep in mind that mining is a highly competitive field, and the cost of electricity and hardware can be significant. You’ll need to do a cost-benefit analysis to determine if mining is a good investment for you.
6. Participating in Ethereum-based prediction markets:
Ethereum-based prediction markets, such as Augur and Gnosis, allow you to bet on the outcome of events and earn rewards based on your accuracy. You can participate in prediction markets by creating a market, placing bets, and earning rewards based on the outcome. This is a great option if you have knowledge or expertise in a particular field or market.
7. Creating NFTs (Non-Fungible Tokens):
NFTs are unique digital assets that can be bought, sold, and traded on the Ethereum blockchain. If you’re an artist, musician or have another creative talent, you can monetise your work by creating NFTs. You can sell your NFTs on platforms like OpenSea, Rarible, or SuperRare.
8. Earning passive income through yield farming:
Yield farming is a process of earning passive income by depositing Ethereum and other cryptocurrencies in liquidity pools and earning rewards for providing liquidity to decentralised exchanges. This is a high-risk, high-reward opportunity for those familiar with the DeFi space. Several yield farming platforms, such as Binance Smart Chain, allow you to earn rewards for providing liquidity.
9. Investing in Ethereum-based startups:
Another way to make money with Ethereum is by investing in Ethereum-based startups. This can be a high-risk, high-reward opportunity, as startup investments are generally considered speculative. However, if you do your research and invest in a promising startup, you could see significant returns on your investment.
10. Earning Ethereum through content creation:
If you have a talent for writing, video production, or other forms of content creation, you can earn Ethereum by creating and sharing your content on various platforms. Some platforms allow you to earn rewards in the form of cryptocurrency for creating and sharing valuable content with the community.
11. Earning Ethereum through affiliate marketing:
Finally, you can earn Ethereum through affiliate marketing. This involves promoting products or services and earning commissions for every sale made through your unique affiliate link. Several Ethereum-based affiliate marketing platforms, such as Refersion, allow you to earn Ethereum for your marketing efforts.
Conclusion
In conclusion, there are plenty of ways to make cash with Ethereum in Nigeria. Whether you’re into trading, staking, DeFi, or something else entirely, there’s a way for you to get in on the action. The key is to do your research and understand the risks involved with any investment. But with the right mindset and effort, you can make the most of your Ethereum investment and grow your wealth over time. So, get out there and start exploring the opportunities!
By Dipo Olowookere
The first trading session of this week at Customs Street ended with a marginal 0.03 per cent loss on Monday following profit-taking in financial and energy sectors.
The counters closed lower during the session as investors re-caliberated their portfolios due to the instability in the global financial markets.
The All-Share Index (ASI) of the Nigerian Exchange (NGX) Limited was down yesterday by 33.72 points to 104,529.62 points from 104,563.34 points and the market capitalisation depleted by N22 billion to N65.685 trillion from N65.707 trillion.
Business Post reports that the banking index crumbled by 1.99 per cent, the insurance sector depreciated by 0.36 per cent, and the energy counter lost 0.19 per cent, while the consumer goods space improved by 0.08 per cent, with the industrial goods and commodity indices closing flat.
It was observed that despite the disappointing outcome, the market breadth index was positive after the bourse ended with 28 price gainers and 24 price losers, representing a strong investor sentiment.
International Energy Insurance lost 9.76 per cent to trade at N1.48, Consolidated Hallmark shed 8.33 per cent to N2.75, Japaul went down by 7.46 per cent to N1.86, Chams dropped 6.98 per cent to N2.00, and Neimeth eased by 6.94 per cent to N2.68.
Conversely, Abbey Mortgage Bank rose by 9.95 per cent to N6.74, UPDC gained 9.82 per cent to sell for N3.13, Guinea Insurance increased by 9.52 per cent to 69 Kobo, VFD Group jumped by 9.46 per cent to N96.00, and Sovereign Trust Insurance soared by 9.41 per cent to 93 Kobo.
Yesterday, a total of 428.2 million shares worth N10.5 billion exchanged hands in 14,583 deals versus the 380.0 million shares worth N10.1 billion traded in 10,791 deals last Friday, implying a rise in the trading volume, value, and number of deals by 12.68 per cent, 3.96 per cent and 35.14 per cent, respectively.
The activity chart was topped by Access Holdings with 56.0 million equities sold for N1.2 billion, Zenith Bank traded 55.4 million stocks valued at N2.8 billion, Fidelity Bank transacted 39.0 million shares worth N725.9 million, UBA exchanged 33.2 million equities valued at N1.0 billion, and GTCO traded 31.0 million stocks for N2.1 billion.
By Adedapo Adesanya
The oil market was slightly up on Monday on the back of exemptions for some electronics from US tariffs and data showing a sharp rebound in China’s crude imports in March.
During the trading session, Brent crude futures improved by 12 cents or 0.2 per cent to $64.88 per barrel and the US West Texas Intermediate (WTI) crude futures grew by 3 cents to trade at $61.53 a barrel.
The President of the United States, Mr Donald Trump, last Friday granted exclusions from steep tariffs on smartphones, computers, and some other electronic goods imported largely from China.
It was the latest in a series of policy announcements that imposed tariffs and then walked them back, spurring uncertainty for investors and businesses.
President Trump later said on Sunday he would announce the tariff rate on imported semiconductors in the coming days.
For the Chinese imports, the exclusion of the tech products applies only to President Trump’s reciprocal tariffs, which climbed to 125 per cent this week as the prior 20 per cent duties on all Chinese imports that he said were related to the US fentanyl crisis remain in place.
China increased its tariffs on US imports to 125 per cent last Friday, hitting back against the American president’s decision to further raise duties on Chinese goods and increasing the stakes in a trade war that threatens to upend global supply chains.
These developments raise concerns that the trade war could weaken global economic growth and dent fuel demand.
China’s crude oil imports in March rebounded sharply from the previous two months and were up nearly 5 per cent from a year earlier boosted by Iranian oil and a rebound in Russian deliveries.
The Organisation of the Petroleum Exporting Countries (OPEC) said in a monthly report on Monday that global oil demand will rise by 1.3 million barrels per day in 2025, down by 150,000 barrels per day from last month’s forecast, citing trade tariffs among the reasons.
Top market analysts like Goldman Sachs and UBS have also cut their forecast.
Goldman Sachs expects Brent to average $63 and WTI to average $59 for the remainder of 2025, with Brent averaging $58 and WTI $55 in 2026 while UBS reduced its Brent forecasts by $12 a barrel to $68.
The US could stop Iranian oil exports as part of President Trump’s plan to pressure Iran over its nuclear programme.
However, Iran and the US held talks in Oman on Saturday and agreed to reconvene next week.
By Adedapo Adesanya
Nigeria’s oil output decreased by 4.1 per cent to 1.40 million barrels per day in March from 1.46 million bpd in the previous month, according to the Organisation of the Petroleum Exporting Countries (OPEC).
This drop means Nigeria has now produced below its OPEC target for the second consecutive month and far below its 2.06 million targets contained in the 2025 national budget.
This decline could be attributed to attacks on pipelines in Rivers State that led to the declaration of state of emergency and the suspension of democracy in the oil-rich state by President Bola Tinubu.
Last month, Mr Tinubu announced the suspension of Governor Siminilayi Fubara and the State House of Assembly over political crisis in the state. This occurred after an oil facility in the state was attacked. He then appointed a retired military officer, Mr Ibokette Ibas as the sole administrator of Rivers State.
Despite the decline, Nigeria remains the largest oil producer in Africa, surpassing Algeria and Congo, which produce 909,000 barrels per day and 263,000 barrels per day, respectively.
However, according to data sourced from secondary sources, OPEC said Nigeria produced 1.51 million barrels per day in March as against 1.54 million barrels per day in February.
OPEC’s report also showed that crude production by the wider OPEC+ fell in March by 37,000 barrels per day to 41.02 million barrels per day due in part to reductions by Nigeria and Iraq.
“Total DoC crude oil production averaged 41.02 mb/d in March 2025, which is 37 tb/d lower, m-o-m,” OPEC said.
On April 12, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said the country’s oil production decreased to 1,400,783 barrels per day in March.
Although oil output dropped in March, NUPRC said the average crude oil production is 93 per cent of the 1.5 million barrels per day quota set for Nigeria by OPEC.
NUPRC adds condensates to its estimates, which are exempted by OPEC in its calculations.
On April 4, the OPEC and its allies decided to increase oil production by 411,000 barrels per day in May — amid declining oil prices.
OPEC also cut its 2025 global oil demand growth forecast on Monday for the first time since December, citing the impact of data received for the first quarter and trade tariffs announced by the United States.
OPEC forecasts that world oil demand would rise by 1.30 million barrels per day in 2025 and by 1.28 million barrels per day in 2026. Both forecasts are down 150,000 barrels per day from last month’s figures.
US President Donald Trump’s trade tariffs as well as a plan for higher output by OPEC+ have put downward pressure on oil prices this month and raised concern about economic growth.
In its monthly report report, OPEC lowered its world economic growth forecast this year to 3.0 per cent from 3.1 per cent and reduced next year’s to 3.1 per cent from 3.2 per cent.
Last month, OPEC said trade concerns would contribute to volatility but had kept forecasts steady, saying the global economy would adjust. However, that appears to have changed with recent developments.
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