Hey! i'm back again to give you another Online Business Idea, today i will be writing about Online Currency Trading and E- Payment. This is also another very lucrative online business that you can easily take
advantage of. Actually, right now in Nigeria, lots of people desire to make
purchases over the internet but their major problem lies in a medium of
These are two different opportunities open to you in this
- E-gold trading
- Making overseas purchases for people.
E-gold trading: e-gold is an electronic payment solution that it’s value
is actually based on the day to day prices or real gold.
E-gold is the preferred method of accepting payments online in Nigeria, and
in most countries where credit cards and other electronic payment options
are not readily obtainable. Because of its prominence and timeliness, you
can make quite some money trading e-gold.
Trading e-gold means serving as a broker (just like a foreign currency trader
in a bureau de change). You both accept payments in Naira, then send an
equivalent amount of e-gold to the person who paid (sell) and also accept
e-gold from people, then pay them in Naira (buy).
Just like a bank or a company that exchanges foreign currencies, your profit
comes from the rates at which you both sell and buy.
Presently, a dollar exchanges for about N163 but e-gold traders sell as high as N194 to a dollar. This means that; at N163 to a dollar, your profit for each dollar you sell is about N31. The value N31 might not seem much to you but bear in mind that mostly people do not buy e-gold of less than N3000 at a go. This means that at N3, 000 your profit from a single sale is roughly N580. Now imagine when you sell to 10 or even a 100 people in a day – that’s about
N5800 and N58000 in profits respectively.
Opening an e-gold account is free and does not take time. You can open one
right now at their website: www.e-gold.com
Please bear in mind that every business venture requires some time and work dedicated to before it will work.
Here are some Nigerian based e-gold companies you can model yourself after, you can start with www.goldkobo.com or www.goldnairaexchange.com
Finally, another profitable strategy you can use, is to have one or more
products for sale on the internet and then to accept payment for it using e-gold
– where you are the dealer.
How and where to buy e-gold at wholesale prices is the tricky part in trading e-gold. A good place to buy e-gold at wholesale prices is at: www.omnipay.com or www.icegold.com. You pay them by wire transfer.
International Purchasing Services: This is another good
opportunity you can take advantage of if you have the means. Lots of
Nigerians desire to buy some of the items they regularly come across on
the internet. Now most of those shops offering them are mostly in the U.S. and
this makes it very difficult – because of a means of payment.
So, if you have a relation or a friend who resides in the U.S or in Europe –
where they can easily purchase those items, then you can talk to them if they
are serious, and then go into the business of making overseas purchases for
If this sounds unrealistic to you, then you should know that lots of
People are already doing it. A good example is the Nigerian website: www.uk2meonline.com and www.circuitatlantic.com
I hope my post today has been educative? If you do enjoy my posts please share your comments be they questions or suggestions so i will know i'm reaching you, you drop them in the comment box below and please share with your friends on Facebook and Twitter