How to Start an Arbitrage Business | If You Have Been in Searching on How to Make Money Online or How to Start a Dollar Arbitrage Business And You Have not Been Making Money or Profit, That Means You Have Been Doing it Wrong But Don’t Worry, In this page, I am going to reach you on how to start dollar arbitrage business in Nigeria, Ghana, Kenya, UK, US etc and make huge profit daily. You Can Make ₦1Million Per Day Through Arbitrage Business If You Have Many Customers or Sources.
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Introduction to Arbitrage Business
In this technology age, making money online and doing businesses online without leaving your room is becoming reality and people are really earning money by doing businesses online and it really profiting people.
This days, not everybody you see not leaving house everyday is not having job or work to do. Some are into different kind of online businesses whereby they don’t have to leave their room before they can make money. Some people are making millions of dollars Monthly on online business without them leaving their bedrooms, while some are making thousands of Dollars, Naira, Euro, Pounds etc without even stepping a fit at the entrance of their room.
There are many online business you can do without leaving your house. I can’t say thousands or million of online business because thousands of online business is being created daily, so it really hard to tell you the amounts of online business in the internet. But don’t worry, the online business am going to tell you about and also teach you on this page is called “Arbitrage Business”.
In this page, I am going to teach you how to start dollar arbitrage business and make huge profit daily.
What is Arbitrage Business?
An arbitrage business refer to an online business whereby you buy a certain currency, products or goods online from a site, platform or company’s at a lower price and sell to another online platform at a higher price.
Now, I hope you understand what an arbitrage business is now with my layman definition.
Types of Arbitrage Strategies
Covered interest arbitrage
Fixed income arbitrage
Now, I know the questions that will be bubbles in your mind right now is “how do I start an arbitrage business”, I want to start an arbitrage business, how do I start a dollar arbitrage business, is arbitrage business legit or scam, can I really make money on arbitrage business, how do I make money on arbitrage business etc.
Don’t worry yourself, because this page will teach everything you need to know on how to start an arbitrage business specifically how to start dollar arbitrage business in Nigeria or in your Country and make a huge profits daily. Just keep on reading….
Dollar Arbitrage Business Requirements – Arbitrage Business Tools
To start a dollar arbitrage business, there are some certain things you need to know first which are below
You need to have a sources for your dollar (You need to have something that will give you dollar online) Don’t worry, I will give you a tips on how to source for your dollars.
You need a platform to buy dollar from at a lower price
You need a site to sell dollar to at a high price.
You need phone or laptop
You need to have a Payoneer Account or Paypal Account etc.
How to Start Dollar Arbitrage Business in Nigeria
To start dollar arbitrage business, just follow this instructions below to get yourself started. In this guide, I am going to teach you on how to start an arbitrage business with payoneer.
The reason I will be using payooner platform on this topic is that, when you open a payoneer account, you will giving a free virtual dollar, euro, pounds account to receive payment from people that will be sending you dollars, euro and pounds to do your dollar arbitrage business.
After you have create this two account, the next step is how to source for your dollar to do your arbitrage business
Now, your own is to buy a dollar from people into your payoneer account at lower rate and sell it on Grey.co at higher rate.
Keep reading, I am going to tell you how to buy at low rate and sell at higher rate using this two platform – I called it “how to make profit on arbitrage business“. Keep Reading
How to Source for Dollar for An Arbitrage Business
There are different ways to source for dollar to start an arbitrage business
You can source for dollar to start an arbitrage business in a freelance websites
You can source for dollar start an arbitrage business in an affiliate marketing website
You can source for dollar from friends and family to start an arbitrage business
You can source for dollar on social media to start an arbitrage business
How to Source for Dollar On freelance Website to Start an Arbitrage
You can source for dollar on freelance platform to start your arbitrage business by rendering people service. I know you will be asking yourself what kind of services you can render to people on freelance website, but don’t worry, I will tell you the kinds of services you can render to people on freelance website.
Services That You Can Offer as a Freelancer
Freelance Writing. In my opinion, one of the best opportunities for making money online is to work as a freelance writer.
One of the great things about the opportunity to work as a freelance writer is the fact that there are opportunities in almost every industry or niche.
With millions of blogs and websites publishing new content every day, there is a great demand for content, and for quality writers. Many of the freelance writing gigs that are available for blogs and websites will involve on-going work, so if you land a few clients, you won’t need to be constantly looking for new gigs.
The pay for freelance writers can be all over the place. There are definitely low-paying gigs that are not really worth your time. But there are also some that will pay much better rates. In fact, some freelance writers earn six figures working from home with a flexible schedule.
Content Marketing. Content marketing is similar to freelance writing, but it usually goes a few steps further. Most freelance writers will write the article, and then their work is done. Content marketers will usually write the content (or outsource the writing) and then also provide some additional services to increase exposure for the content. Your services as a content marketer could involve promoting the content on social media, search engine optimization and building links to the content, or blogger outreach.
Copywriting typically involves writing advertising or sales copy. You could be creating sales pages for website owners, writing sales copy for emails, writing brochures and other marketing material, or any other type of text that is geared towards converting readers into customers, or leading them to some other action (like signing up for an email list).
The skills needed to be a successful copywriter are more specialized as compared to working as a freelance writer, but you can also earn more money. If you have experience with copywriting through your job, this can be a very valuable skill to offer as a freelancer.
Social Media Management
Podcast Editing and Production
Video Editing and Production
For more explanation on this 25 services you can render on a freelance website, goto vitadollar here
How to Source for Dollar On Affiliate marketing Website to Start an Arbitrage
Find an affiliate marketing website or platform that pays in dollar, then use your payoneer dollar account to receive payment from them
How to Source for Dollar from friends and family to Start an Arbitrage
Ask from your friends and family if they have any dollar in any of their online wallet such as payoneer, paypay, neteller etc, they want to sell/exchange to Naira or to your country local fiat currency, then use your payoneer dollar account to receive payment from them
How to Source for Dollar On Social Media Platform to Start an Arbitrage
You can also post it on any of your social timeline, group you are in to or your page to ask people if they have a dollar for sale.
How to Make Profit on Arbitrage Business in Nigeria
Normally, if you have dollar on Payoneer account and you want to exchange it to Naira, the rate at with payoneer will exchange it for you is the rate of the CBN (Central Bank of Nigeria) rate which might be #409 has at the time of this writing.
So in this case if you can offer it to buy from people at the rate of may #500 then, they will be happy to sell it to you at that rate because they will receive more money from you than the one payoneer will exchange it for them.
Let Do the Calculation: Let me use buy from people as an example.
Let say a friend of mine have $100 and want to withdraw my dollar from my payoneer account into my local bank account, and the rate of CBN that payoneer platform is following is #409, that means it will be $100 x 409 = #40900 (Forty thousand and nine hundred Naira only), this means he will receive #40900 Only. But He sell it to me at the rate of #450 or let say #500, that means, he will #45000 or #50000, that’s an extra #4100 0r an extra #10000.
Now, I know you will be asking yourself that, then how do I make profit from this or how do I make profit from arbitrage business? The answer is very simple, just keep on reading.
Watch the Video on how to Create Aboki.Africa Account (Grey.co Account)
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This is how you will make your profit from dollar arbitrage business, let say you have like $100 in your payoneer account, what you will have to do is;
In your payoneer account, convert the dollars in your payoneer account into GBP (convert the dollars into pounds) on your payoneer account and the dollar will turn into pounds (currently as at the time of this writing, 100 dollars = 76.72
Now goto your grey.co account and copy your GBP Account number (Pounds Account Number)
Then, send the pounds (GBP) into your Aboki.Africa GBP Account which is also known Grey.co GBP Account
Now in the grey.co platform, 1 dollar is being sold at the rate of #570 per $1 but we won’t convert back to dollar because we want to sell at the rate of pounds which is #744 in pounds (GBP).
Let say I buy $100 at the rate of #500 per 1 dollar, that is #50000 and after I have converted it into pounds (and it become 76.72 pounds) and I send it from my payoneer account into my grey account, and I withdraw the money into my local bank account at the rate of ₦744 x 76.72 pounds = ₦57,079.68.
As you can see, I have make a profit of ₦7000+ on this. What if I buy at the rate of #450 or I have a source where I get dollar at the rate of ₦400 – ₦409? Just imaging the profit I will be making from that (it will be more than ₦10000 profit)
What if I have someone that sell $1000 for me at the rate of which I calculated above (that means I will have a profit of ₦70000+)
There’s a little fees that will be charge from this transactions, so make sure you calculate the fees clearly before you do it. But don’t worry, if you follow this my guildelines, the charges will be small and will not upto $3.