Despite the crisis in Nigeria that has been depressing the country for several years in a row already, people keep buying expensive cars, apartments, jewelry and other luxurious items. Moreover, now Nigerian millionaires are on average 8-12 years younger than a decade ago. In the past, in order to earn a home, one had to work hard in the office or at a factory for many years and economize on everything. Then, in 10 or 20 years’ time you would probably be able to finally afford a long-desired apartment. However, now it’s not uncommon when students buy their own flats and go to expensive resorts 3-4 times a year! So where do they take money for all that luxury?
We have talked to 15 such young people and found out how they earn money for this dolce vita. It turned out that the majority of them don’t have their own companies, or offices, or employees. They just stay at home and use only their laptop with an access to the Internet.
Only 4 out of 15 millionaires aged from 19 to 27 that participated to our survey have their own real sector business and are engaged in selling goods or services. Two of them have their online business in creating and promoting websites, and they also provide consultancy in various technical and legal aspects. One of the guys runs his own successful tourist blog where he writes about his numerous trips and earns money by providing advertising space to various tourist agencies.
But just imagine our astonishment when we found out that the other 8 people earn money on Forex (two of the respondents) and binary options (6 of the respondents)! Forex is a rather complicated business, and you might become successful only after you lose thousands of dollars on it. Binary options are a much easier way to raise money which can be boiled down to making guesses about the future trends of currencies, shares and precious metals. We got interested and decided to ask our heroes several questions about this way of making money.
How much funds do you need to start earning on binary options?
In fact, in the beginning you need no money at all. Many services offer free demo accounts with $200-1000 so that users could try the service and gain some insight without losses (for example, here they give $10,000 per test).
Where can you learn this business and how much time does the training take?
Reliable brokers provide free video courses and webinars where they tell about existing strategies. All you need to do is to spend several hours on studying these materials with simultaneous practice on demo accounts which I mentioned earlier.
But you can’t earn real money on demo accounts?
Of course not, though they occasionally organize free tournaments where the winners get real money basing on how much they earned on virtual accounts. Sometimes these amounts exceed $50,000! But the most important thing is that you have the opportunity to play on a demo account, and only if you feel confident, you can open a real account and start making real money. By the way, the minimum amount for crediting your account is just $10 which is the price of an average dinner! You might probably have to skip one meal, but this could change your life completely!
How much money do you make on average in a month and how much time does it take you?
I earn around $20,000-30,000 a month, taxes excluded. I’m a workaholic and I work about 8-10 hours a day but in fact I spend on binary options only 1-3 hours a day, and the rest of the time I spend on developing other projects which I start not for making money but just for myself.
What would you recommend to those who haven’t tried themselves in this business yet?
I would give 5 tips for becoming successful:
- Open a demo account for $10,000;
- Study training materials;
- Play on virtual money as if it were your own funds;
- Make many small bets instead of several big ones;
- Open a real account when you have succeeded on a demo one.
The problem of the people in the 21st century is that we don’t trust anyone and see traps everywhere. Very often we just pass by a free and truly valuable material and at the same time easily give our own money to swindlers! Try something new and you will succeed!