Nigeria offers several wealthy financial prospects, making it an extremely lucrative experience. To comprehend and understand the ways to invest and earn daily in Nigeria, you must first conduct some initial research. When you accomplish this and comprehend the fundamentals, you are prepared to earn daily. Through this post, you’ll learn the fundamentals of how to invest and earn daily in Nigeria and about online investment platforms.
Introduction
One of the most populous nations in Africa is Nigeria. The country’s economy is expanding quickly. Nigeria’s government has put measures into place to invest in the nation’s infrastructure. However, the Nigerian stock market is currently the most secure and well-liked online investing platform in Nigeria.
Many Nigerians are starting businesses and are looking outside of their savings for funding. So if you own property that you can rent to them, you’ll be able to make much more money than if you’re just getting the standard rate of interest on your savings account.
The capital market in Nigeria, which serves as both a channel and an investment vehicle, is extremely volatile. It is where sellers and purchasers of securities get together to trade securities. By supplying cash for long-term investments and covering the government deficit, the Nigerian capital market is essential to the growth of the economy. It was intended to raise long-term funds for businesses and the government. It acts as a platform to invest money online and for the rational distribution of resources through a well-established market system.
Unfortunately, a lot of young people have been duped into making the wrong investment decisions. They mindlessly followed the trend of investing in the stock market just because others are. To help those individuals, this article will throw light on the basics of how to invest and earn daily in Nigeria.
What should I consider before investing?
You should constantly be conscious of the level of risk you are accepting. Thus we advise looking at these
two elements:
- The potential for investment loss
- The amount of money you could lose if anything goes wrong
- To ensure that you have a secure financial future, investing money online is essential. Only a 1% chance exists that your investment won’t improve in value over the following two years. But, there is a 99% chance that it will. You will receive N2000 if your investment of N1000 doubles in value. After two years, you will only have N1000 left if the value does not rise. Very meagre are the chances of it going below
N1000.
What are the types of investment in Nigeria?
When you invest money online, you put money into particular financial instruments or an online business that pays daily. Then you wait for it to grow over time. There are essentially two types of investments in Nigeria:
- Debt Investments
Investments backed by the government or tangible assets are referred to as debt investments. In general, investors think that this kind of investment is considerably safer than equities investments. This indicates that if you choose this form of investment, your chances of receiving returns are limited. In general, debt investments are better suited for those who invest in hopes of obtaining a reliable source of income rather than a high growth potential. - Equity Investments
Equity investments are those that aren’t backed by any tangible assets or guarantees from the government. They are therefore significantly riskier than debt investments, but if all goes right, they can produce bigger profits. In general, those who desire to risk their money to reap higher rewards may consider making this type of investment. - Investing in stable funds
Stablecoins are a sort of cryptocurrency whose value is linked to an underlying asset, such as the U.S. dollar. They intend to provide all the advantages of cryptocurrencies while aiming to prevent extreme volatility. Investing in stable funds by dollar investment platforms like pillow will provide 14% returns on your capital annually.
How to invest and earn daily in Nigeria?
Making your savings work for you is easy to do by making good financial decisions. In general, you can
earn more interest on your money the more you have to invest. Here are some suggestions to help you
invest and earn daily in Nigeria:
- Find an investment opportunity
Find a legitimate investment opportunity first. To achieve this, you need to keep up with the news and look into the most recent economic developments in Nigeria. For instance, you can profit from the economy’s agricultural development by investing in businesses that will allow you to take advantage of it. Agritech enterprises are an illustration of businesses like these. Investing in companies with connections to foreign funds is another option. In essence, it increases your ability to diversify your sources of income and your portfolio. Last but not least, you should diversify your investment. In this manner, even if one investment fails, you will still be protected. - Estimate how much capital you need
Finding out how much cash you’ll need to launch your project is the next step after finding a profitable investment possibility. You must take into account taxes, insurance, legal fees, and unanticipated costs when you accomplish this. - Find a niche
If you know where to seek and what to look for, Nigeria is full of opportunities. It’s crucial to conduct research and determine what your community most needs. The better your odds of success, the more you’ll understand what individuals lack. - Consideration of risk
Your level of risk tolerance is one significant factor to take into account. Avoid investing in equities if you have a low-risk tolerance because they are erratic. Their costs are prone to quick fluctuations. Therefore, it will be best if you make investments in safer investment categories. Finally, think about how much you want to put into each business. Keep in mind that an investment has a higher likelihood of being volatile the larger it is.
Best online investment platforms
Pillow Fund
The best dollar savings software available in Nigeria is Pillow Fund. It enables you to virtually save your money in dollars while generating daily passive income. On your deposit, you might receive an annual interest of 14%. Pillow Fund is accessible in more than 60 nations. For large rewards, you can also use the programme to deposit and exchange cryptocurrency. Additionally,
- You can use Pillow to invest dollars, Naira, or fiat money and earn rewards.
- Pillow makes it simple to save money in dollars, starting with just NGN 3,000.
- You can trade your preferred tokens with Pillow and generate significant profits on your investments. Utilise your savings to generate passive income.
- With their custody partner, BitGo, all assets put on Pillow Fund are kept in a secure location.
PiggyVest
Prior to that, it was called a piggy bank. It is Nigeria’s first and most well-known savings and investing platform. They contend that through increasing transparency, they will offer Nigerians the ability to manage their finances.
You decide to routinely save as little or as much as you can – daily, weekly, or monthly – for particular objectives, plans, and initiatives, earning 10 to 17 percent interest.
For a specified amount of time, you can also lock your funds in Safe Lock, which functions similarly to a fixed deposit account at a typical commercial bank. With their quick save option, you can contribute up to N500,000 to match your savings at any moment. You can save between N50 and N25,000 per day, N1,000 to N100,000 per week, and N3,000 to N500,000 each month. On the highway, Piggyvest can be downloaded from the Play Store here.
Cowrywise
One of the reliable investment platforms in Nigeria that enables automated savings is this one. You choose how often you save, whether daily, weekly, or monthly. Your savings programme will be automated once your debit card is linked to your Cowrywise account.
Cowrywise earns interest on your savings every day, which is credited to your account annually at a rate
of between 10 and 15 percent. You are eligible for low-cost Cowrywise loans and can withdraw funds
from your savings at any time.
Carbon
Carbon provides a range of personal finance and investing options. On the app, you can start investing with as little as 100 NGN. On carbon, assured returns may reach 16%. Additionally, you can alter the length of your investment from three to twelve months. To reach your objectives, you might create a recurring goal. These may occur quarterly, biannually, or annually.
Chaka
On Chaka, you may invest in and profit from both domestic and international equities. With Chaka, you may start trading shares for as little as N10 or N1000. On the Chaka website or app, you may monitor investment returns. Additionally, you can withdraw your money the same day within 12 hours. It may take two to three days to complete your request to withdraw realised gains from stocks.
P2Vest
In Nigeria, a loan business called P2Vest is becoming more well-known. By putting legitimate borrowers in touch with lenders and investors, this platform provides alternative loans to Nigerians. The better returns on their capital that these lenders and investors seek are made possible by P2Vest. A B2B loan platform is available through P2Vest. The starting loan amount for a novice is N5,000, and the maximum loan amount with a one-year term is N2,000,000.
Payday Investor
Payday Investor invests deposits in a money market fund, enabling Nigerians to reach their financial and savings objectives. The return on investment is currently distributed every three months. Regardless, this platform gives you the freedom to decide when and how to invest. Multiple goals can be set, and you can change your goals over time. Your money may be withdrawn at any time. One of the top investment firms in Nigeria, it pays weekly or as needed. Additionally, you can profit from your investments by more than 12%. The smallest withdrawal is 1,000 Naira.
I-invest
This smartphone app can let you get started right away if you’ve always wanted to participate in the government bond market but were compelled to do so. I-invest enables customers to buy Treasury notes with a single click on their phone, wherever they are, increasing their savings and earning better interest rates. The first outlay is N100,000. The invested principal plus interest will be credited to the bank account of your choice at maturity along with daily interest accruals.
Conclusion
There are legitimate ways to invest and earn money daily in Nigeria. However, not many people are aware of the same. We hope this article was useful to our readers to get familiar with the fundamentals of investing and the risks involved. Once you have done so, you can research the economy to determine which industry is enjoying a boom and make investments there. Finally, to lessen your danger of losing everything at once, remember to diversify your investments.