{"id":9660,"date":"2023-08-21T07:53:33","date_gmt":"2023-08-21T07:53:33","guid":{"rendered":"https:\/\/blog.prestmit.io\/?p=9660"},"modified":"2025-03-20T11:18:03","modified_gmt":"2025-03-20T11:18:03","slug":"how-to-make-money-with-bitcoin-mining-in-nigeria","status":"publish","type":"post","link":"https:\/\/prestmit.io\/blog\/how-to-make-money-with-bitcoin-mining-in-nigeria","title":{"rendered":"How to Make Money With Bitcoin Mining in Nigeria"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_83 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a021dd1af0a1\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"ez-toc-cssicon\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a021dd1af0a1\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/prestmit.io\/blog\/how-to-make-money-with-bitcoin-mining-in-nigeria\/#What_You_Need_To_Start_Bitcoin_Mining_in_Nigeria\" >What You Need To Start Bitcoin Mining in Nigeria\u00a0<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/prestmit.io\/blog\/how-to-make-money-with-bitcoin-mining-in-nigeria\/#1_Mining_Hardware_and_Software\" >1. Mining Hardware and Software\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/prestmit.io\/blog\/how-to-make-money-with-bitcoin-mining-in-nigeria\/#2_Electricity\" >2. Electricity\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/prestmit.io\/blog\/how-to-make-money-with-bitcoin-mining-in-nigeria\/#3_Bitcoin_Wallet\" >3. Bitcoin Wallet\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/prestmit.io\/blog\/how-to-make-money-with-bitcoin-mining-in-nigeria\/#4_Mining_Pool\" >4. Mining Pool\u00a0<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/prestmit.io\/blog\/how-to-make-money-with-bitcoin-mining-in-nigeria\/#How_To_Start_Mining_Bitcoin_In_Nigeria\" >How To Start Mining Bitcoin In Nigeria\u00a0<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/prestmit.io\/blog\/how-to-make-money-with-bitcoin-mining-in-nigeria\/#Step_1\" >Step 1:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/prestmit.io\/blog\/how-to-make-money-with-bitcoin-mining-in-nigeria\/#Step_2\" >Step 2:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/prestmit.io\/blog\/how-to-make-money-with-bitcoin-mining-in-nigeria\/#Step_3\" >Step 3:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/prestmit.io\/blog\/how-to-make-money-with-bitcoin-mining-in-nigeria\/#Step_4\" >Step 4:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/prestmit.io\/blog\/how-to-make-money-with-bitcoin-mining-in-nigeria\/#Step_5\" >Step 5:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/prestmit.io\/blog\/how-to-make-money-with-bitcoin-mining-in-nigeria\/#Step_6\" >Step 6:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/prestmit.io\/blog\/how-to-make-money-with-bitcoin-mining-in-nigeria\/#Where_To_Sell_Your_Mined_BTC_In_Nigeria_%E2%80%93_Prestmit\" >Where To Sell Your Mined BTC In Nigeria &#8211; Prestmit<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/prestmit.io\/blog\/how-to-make-money-with-bitcoin-mining-in-nigeria\/#How_To_Sell_Bitcoin_On_Prestmit\" >How To Sell Bitcoin On Prestmit:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/prestmit.io\/blog\/how-to-make-money-with-bitcoin-mining-in-nigeria\/#Frequently_Asked_Questions_FAQs_About_Making_Money_From_Bitcoin_Mining_In_Nigeria\" >Frequently Asked Questions (FAQs) About Making Money From Bitcoin Mining In Nigeria<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/prestmit.io\/blog\/how-to-make-money-with-bitcoin-mining-in-nigeria\/#Is_Bitcoin_mining_legal_in_Nigeria\" >Is Bitcoin mining legal in Nigeria?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/prestmit.io\/blog\/how-to-make-money-with-bitcoin-mining-in-nigeria\/#What_is_the_minimum_investment_needed\" >What is the minimum investment needed?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/prestmit.io\/blog\/how-to-make-money-with-bitcoin-mining-in-nigeria\/#How_long_does_it_take_to_mine_1_Bitcoin\" >How long does it take to mine 1 Bitcoin?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/prestmit.io\/blog\/how-to-make-money-with-bitcoin-mining-in-nigeria\/#What_happens_if_the_power_goes_out\" >What happens if the power goes out?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/prestmit.io\/blog\/how-to-make-money-with-bitcoin-mining-in-nigeria\/#How_much_does_a_miner_earn\" >How much does a miner earn?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/prestmit.io\/blog\/how-to-make-money-with-bitcoin-mining-in-nigeria\/#Is_Bitcoin_mining_profitable\" >Is Bitcoin mining profitable?<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/prestmit.io\/blog\/how-to-make-money-with-bitcoin-mining-in-nigeria\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p><span style=\"font-weight: 400;\">When it comes to making money, you can&#8217;t beat the hustling spirit of Nigerians. That&#8217;s why you&#8217;ll see Nigerians in almost every sector or business. Cryptocurrency isn&#8217;t left behind.<\/span><\/p>\n<p>While crypto trading is one of the fast <a href=\"https:\/\/prestmit.io\/blog\/10-best-ways-make-money-online-nigeria\">ways to make money in Nigeria<\/a>, one unpopular way to make money in the crypto space is through <a href=\"https:\/\/prestmit.io\/blog\/what-is-bitcoin-mining-how-does-it-work\">Bitcoin mining<\/a>. So as sophisticated as this activity can be, let&#8217;s guide you on how to make money from Bitcoin mining in Nigeria.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_You_Need_To_Start_Bitcoin_Mining_in_Nigeria\"><\/span><b>What You Need To Start Bitcoin Mining in Nigeria\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img decoding=\"async\" class=\"alignnone wp-image-13057 size-full lazyload\" data-src=\"https:\/\/blog.prestmit.io\/wp-content\/uploads\/2021\/02\/bitcoin_mining_explained-1.jpg\" alt=\"Make money from Bitcoin mining in Nigeria \" width=\"848\" height=\"477\" data-srcset=\"https:\/\/blog.prestmit.io\/wp-content\/uploads\/2021\/02\/bitcoin_mining_explained-1.jpg 848w, https:\/\/blog.prestmit.io\/wp-content\/uploads\/2021\/02\/bitcoin_mining_explained-1-150x84.jpg 150w, https:\/\/blog.prestmit.io\/wp-content\/uploads\/2021\/02\/bitcoin_mining_explained-1-768x432.jpg 768w\" data-sizes=\"(max-width: 848px) 100vw, 848px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 848px; --smush-placeholder-aspect-ratio: 848\/477;\" \/><\/p>\n<h3><span class=\"ez-toc-section\" id=\"1_Mining_Hardware_and_Software\"><\/span><b>1. Mining Hardware and Software\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The first thing you need to start mining Bitcoin is hardware and software. These don&#8217;t come cheap, though. Mining hardware is the most expensive component. You need a powerful mining system, such as an ASIC miner.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">An ASIC, or Application-Specific Integrated Circuit miner, is a pre-built mining rig; these miners are expensive. For instance, the Antminer S19 XP costs about N7,360,000 at the current exchange rate, but it is one of the cheapest.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The S19 XP has a hash rate of 141 terahashes per second (TH\/s). Higher-performing miners are available, but their prices are considerably higher\u2014the Antminer\u00a0 S21 mines at 200TH\/s and costs about N11,200,000.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Miners with higher performances than the Antminer S21 cost more than N15,000,000, with the Antminer S21 Hyd selling for over\u00a0 N17,600,000 with an impressive hash rate of 335 TH\/s.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">What about mining software? Mining software isn&#8217;t as expensive as mining hardware. This software connects, allowing you to take part in the mining process.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Some of the most popular mining software are CGMiner and BFGMiner. Both are open-source programs that support a wide range of mining hardware.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_Electricity\"><\/span><b>2. Electricity\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Bitcoin mining is not possible without power consumption, and with Nigeria&#8217;s epileptic power supply, alternative power supplies such as Solar panels and generators must be considered.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These alternative sources are neither cheap nor Nigeria\u2019s power supply. If you&#8217;re a band A electricity user, you&#8217;ll have a more steady power supply, so you&#8217;ll have to pay more.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Electricity costs, which usually vary based on location and power source, are the biggest running costs.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On average, electricity costs N192 per kilowatt-hour (kWh). This sounds affordable, right? Sorry to burst your bubble, but it isn&#8217;t. You&#8217;ll likely need to run your miner 24\/7, which eventually adds up.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If your ASIC miner uses 4,500 watts and electricity costs N192 per kWh, your daily power cost would be 4.5 kW \u00d7 24 hours \u00d7 N192 = N20,736\u00a0 per day. If the cost of electricity is too high, then mining might not be worth it. The higher the electricity costs, the lower your profits.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_Bitcoin_Wallet\"><\/span><b>3. Bitcoin Wallet\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">A <a href=\"https:\/\/prestmit.io\/blog\/what-you-need-to-know-about-bitcoin-wallet\">\u00a0Bitcoin wallet<\/a> allows you to store your Bitcoin rewards after mining. There are two types of wallets: hardware and software. Hardware wallets are physical storage that protect your Bitcoin from online threats.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Many software wallets are available online for free, from which you can choose. After setting up your wallet, you&#8217;ll generate an address to safely receive and store your Bitcoin.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"4_Mining_Pool\"><\/span><b>4. Mining Pool\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Although you can mine Bitcoin alone, your profit could be next to nothing because solo mining is difficult. This is why miners choose to join mining pools. A mining pool is a group of miners combining efforts and resources to earn rewards. The most popular pools in Nigeria are:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Slush Pool:<\/b><span style=\"font-weight: 400;\"> This pool offers a reliable and secure environment to fit miners and maximize their earnings. Its user-friendly interface makes navigating and managing their mining operations easy for Nigerian miners.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>F2Pool:<\/b><span style=\"font-weight: 400;\"> This mining pool that offers miners competitive advantages. Their relatively low fees allow miners to keep more of their earnings. F2Pool also provides fast and reliable payouts.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>AntPool:<\/b><span style=\"font-weight: 400;\"> Miners in AntPool can maximize their mining potential and earn a good income. AntPool also offers competitive payout rates, ensuring you are well-rewarded for your efforts.<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"How_To_Start_Mining_Bitcoin_In_Nigeria\"><\/span><b>How To Start Mining Bitcoin In Nigeria\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">After having all the above in place, the following are the steps to take to start your Bitcoin mining journey:<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Step_1\"><\/span><b>Step 1:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Choose a well-ventilated and dust-free space. Your miner will generate heat, so ensure plenty of air circulation.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Step_2\"><\/span><b>Step 2:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Follow the manufacturer\u2019s instructions to assemble the ASIC miner.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Step_3\"><\/span><b>Step 3:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Connect your miner to a power supply to ensure a secure connection, but don\u2019t turn it on.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Step_4\"><\/span><b>Step 4:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Now, connect your miner to your router using an Ethernet cable. This will give your miner access to the Bitcoin network.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Step_5\"><\/span><b>Step 5:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Turn on the Miner and power it up. You\u2019ll probably hear a fan noise \u2014 that\u2019s a good sign. It means your miner is working to keep itself cool.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Step_6\"><\/span><b>Step 6:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Run the software to start the mining process. Monitor performance and maintain your equipment to ensure efficient operation.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Where_To_Sell_Your_Mined_BTC_In_Nigeria_%E2%80%93_Prestmit\"><\/span><b>Where To Sell Your Mined BTC In Nigeria &#8211; Prestmit<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img decoding=\"async\" class=\"alignnone wp-image-10441 size-full lazyload\" data-src=\"https:\/\/blog.prestmit.io\/wp-content\/uploads\/2023\/10\/prestmit.jpg\" alt=\"Make money with Bitcoin mining in Nigeria \" width=\"1500\" height=\"787\" data-srcset=\"https:\/\/blog.prestmit.io\/wp-content\/uploads\/2023\/10\/prestmit.jpg 1500w, https:\/\/blog.prestmit.io\/wp-content\/uploads\/2023\/10\/prestmit-1024x537.jpg 1024w, https:\/\/blog.prestmit.io\/wp-content\/uploads\/2023\/10\/prestmit-150x79.jpg 150w, https:\/\/blog.prestmit.io\/wp-content\/uploads\/2023\/10\/prestmit-768x403.jpg 768w, https:\/\/blog.prestmit.io\/wp-content\/uploads\/2023\/10\/prestmit-1320x693.jpg 1320w\" data-sizes=\"(max-width: 1500px) 100vw, 1500px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1500px; --smush-placeholder-aspect-ratio: 1500\/787;\" \/><\/p>\n<p><span style=\"font-weight: 400;\">The best way to make money from your Bitcoin in Nigeria is to convert it to cash. Speaking of conversion, there are different places on which you can <\/span><a href=\"https:\/\/prestmit.io\/bitcoins\"><span style=\"font-weight: 400;\">sell Bitcoin<\/span><\/a><span style=\"font-weight: 400;\"> &#8211; crypto exchange, peer-to-peer (P2P) platforms, and whatnot, but one platform that leads the pack is Prestmit.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This is an over-the-counter (OTC) digital trading platform that offers innovative features to ensure profitable trading. These include a <\/span><a href=\"https:\/\/prestmit.io\/bitcoin-price-naira\"><span style=\"font-weight: 400;\">Bitcoin rate calculator<\/span><\/a><span style=\"font-weight: 400;\"> that enables you to see in real time the conversion rate of your BTC in Naira. The platform also boasts advanced security features like two-factor authentication (2FA) and an encryption system to protect your funds and transactions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition, Prestmit offers competitive rates for your BTC, which is one of the best in Nigeria, enabling you to make profits. Other features are responsive customer support and a sleek interface for seamless navigation.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_To_Sell_Bitcoin_On_Prestmit\"><\/span><span style=\"font-weight: 400;\">How To Sell Bitcoin On Prestmit:<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Here are the quick steps to sell your BTC:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">Download the Prestmit app on the <\/span><a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.prestmit\" target=\"_blank\"><span style=\"font-weight: 400;\">Google Play Store<\/span><\/a><span style=\"font-weight: 400;\"> or <\/span><a href=\"https:\/\/apps.apple.com\/ng\/app\/prestmit-gift-cards-coins\/id1581960714\" target=\"_blank\"><span style=\"font-weight: 400;\">Apple Store<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Create a Prestmit account and log in.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Click \u201c<\/span><b>Crypto<\/b><span style=\"font-weight: 400;\">\u201d and choose \u201c<\/span><b>Sell Bitcoin<\/b><span style=\"font-weight: 400;\">.\u201d<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Generate your Prestmit BTC Wallet.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Follow the prompts.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">You will receive payment immediately after your transaction is confirmed.<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions_FAQs_About_Making_Money_From_Bitcoin_Mining_In_Nigeria\"><\/span><b>Frequently Asked Questions (FAQs) About Making Money From Bitcoin Mining In Nigeria<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Is_Bitcoin_mining_legal_in_Nigeria\"><\/span><b>Is Bitcoin mining legal in Nigeria?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">No laws prohibit Bitcoin mining, and many Nigerians are actively involved in the activity.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_minimum_investment_needed\"><\/span><b>What is the minimum investment needed?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">A basic mining setup can cost anywhere from N5,000,000 to N12,000,000.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_long_does_it_take_to_mine_1_Bitcoin\"><\/span><strong>How long does it take to mine 1 Bitcoin?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Usually, mining Bitcoin takes about 10 minutes. That&#8217;s the approximate time it takes to complete the verification of one block. However, miners succeed at different periods because they must correctly provide the hash for the block they want to verify.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_happens_if_the_power_goes_out\"><\/span><b>What happens if the power goes out?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Your mining equipment will shut down, and you cannot mine Bitcoins until the power is restored.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_much_does_a_miner_earn\"><\/span><b>How much does a miner earn?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">At the time of writing this article, a miner can earn around 3.125 BTC for every block they mine.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_Bitcoin_mining_profitable\"><\/span><b>Is Bitcoin mining profitable?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Nigeria has a relatively high cost of electricity, which can eat into a <a href=\"https:\/\/prestmit.io\/blog\/is-bitcoin-mining-profitable-in-2022\">miner&#8217;s profits<\/a>. But you can join mining pools to increase your chances of earning Bitcoins.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><b>Conclusion<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Bitcoin mining is a great way to make money in Nigeria. But, unlike Bitcoin trading, it requires a significant upfront investment and isn&#8217;t a get-rich-quick scheme. Despite this, many people are tapping into the potential of Bitcoin mining and making cool money. Don&#8217;t sleep on it; start your Bitcoin mining journey today.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>When it comes to making money, you can&#8217;t beat the hustling spirit of Nigerians. That&#8217;s why you&#8217;ll see Nigerians in almost every sector or business. Cryptocurrency isn&#8217;t left behind. While crypto trading is one of the fast ways to make money in Nigeria, one unpopular way to make money in the crypto space is through [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9661,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1788],"tags":[507,699,1911],"class_list":["post-9660","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-bitcoin-mining","tag-how-to-start-bitcoin-mining","tag-make-money-with-bitcoin-mining"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.5 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How to Make Money With Bitcoin Mining in Nigeria<\/title>\n<meta name=\"description\" content=\"Bitcoin mining is what keeps the Bitcoin blockchain running. 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