How You Can Make Money In US Dollars Without Traveling Abroad

How to Make Money In US Dollars - Find Out My 3 Legitimate Ways to Make More Money In Dollars Right Here In Nigeria - Save, Start a Business & Invest In USD

This personal finance guide contains legitimate tips on how to make money in US dollars right here in Nigeria, manage and multiply your portfolio.

how to make money in us dollars
Someone sent a message to me via WhatsApp and was curious to know how I make money in US dollars without travelling to the US. Initially, he thought that one can only make money in the country one is a resident. For instance, if you are live in Nigeria, you can only make money in Naira as that's the currency you will be paid in, for services rendered or salary earned.
Well! I didn't ignore the message, I engaged him in a chat and explained how anyone can take advantage of the opportunities online, sell his/her services abroad and receive payment into his/her bank account without meeting the buyer or whoever you are doing business with.
Note: I condemn internet fraud and will never advise anyone to do such an illegal business. You may be caught by anti-financial crime commission.

How to Make Money In US Dollars Online

You may be asking, 'Must it be online'? absolutely yes! You know why? Because I assume you are not travelling to the US from here and the only way you can connect to the US or do business abroad from home is to get your laptop online and find a platform to join.
From my personal experience, here are three legitimate ways you can make money in dollars from home.
I call it SSI strategy; Save in dollars, Start a business that makes money in dollars and Invest in a market with dollar return.

I will be sharing the most detailed guide on how to get started soon, subscribe to my weekly newsletter using the yellow subscription box above to get updates.
Meanwhile, here are three working strategies you can apply.

How to Make Money In Dollars: Save in US Dollars.

Just like you Naira savings account, you can also have a dollar denominated account by walking into any bank branch, approach the customer care officer and request for a domiciliary account opening form.

Assuming you deposited $100 in your account when a dollar equals N195, by now you should have N48,500 (an unrealised gain of N29,000 without doing anything). But that's not what I want to show you, even though it makes you earn more as exchange rate edges higher, there is a better opportunity you can explore as zero risks to grow your dollar-savings portfolio.

You can invest the dollar in a US dollar-denominated instrument issued by corporate institutions or Nigerian government via FBN Nigeria Eurobond Mutual Fund, earn quarterly interest on your portfolio,  and enjoy double growth.

On a monthly basis, you can save a fixed figure, let's say $100, for 5 months at a stretch or more. The idea here is, as USD/NGN reaches a higher level, you not only earn interest on deposit but also enjoy value appreciation.

A simple math that will make you understand this better; you invested $100 monthly for 5 months at N195, N210, N250, N345 and N390 respectively in a US dollar fund, that's like $500 at a cost of N139,000.

What's USD/NGN rate now at the parallel market? N485 as at 10/12/2016.
Your dollar portfolio is N242,500 in less than a year, up by N103,500, 74% value growth without factoring the quarterly interest on your monthly saving

How to Make Money In Dollars: Start a Business

If you have a marketable internet skill like SEO, website building, app development, programming, blogging, etc, you can explore it online, reach foreign clients or international visitors and get them to pay you in the US.

For instance, you can create a blog around your skill, drive traffic from US visitors and get Google to pay you for direct advert displayed on it every month.

How to Make Money In Dollars: Invest in foreign financial market

This is one of the quickest but as the same time riskiest place you can grow your dollar income faster. You need an accurate knowledge and guidance from successful financial advisers before you can play safely in US financial market.

One of the best market you can try is the AMEX, or NASDAQ market, a leading global stock exchange market that lets you buy shares at a lower price in profitable companies abroad with the hope of reselling back to other buyers at a higher price.

In the last 6-8 years, Global stock markets have been hit by economic instability but I can confidently say that, in the midst of the crisis, there are still companies rewarding smart investors who have discovered profitable investing strategies.

Another market you can also check out is FOREX. Like I said earlier, you should seek advice from a professional and successful trader, who has been in the market for at least 5 years, with prove of earnings before putting your money into the market.

To get started in your dollar investment journey, you should also contact a registered stock or forex broker that not only accept Nigerians but charges a lower commission on transactions.

While these are my three tips on how to make money in US dollars without travelling abroad, I would also like to read your comments, questions and ideas on how you have successfully made more money in dollars.