How To Start A Digital Asset Business With 100k From Home

100,000 can be your ticket to financial freedom.

Imagine starting and growing a successful business from the comfort of your home with just 100,000 Naira.

The digital age we live in today makes it possible to achieve what was initially thought to be impossible.

With the introduction of digital assets, the way we think about business has changed. Now anyone with access to the Internet and a little capital can start a viable business with digital assets.

Whether you like the idea of investing in cryptocurrency, buying and selling domain names, creating and selling online content, writing and publishing eBooks, etc; the opportunities seem endless.

In this article, we will learn together how you can start a business with digital assets from the comfort of your home with just 100,000 naira, and if done well, you might be on your way to financial freedom.

We will first look at what digital assets are, the different types of digital assets out there and then how to practically start a digital assets business. Ready?

What are Digital assets?

Digital assets are high value items that exist only digitally. You cannot touch or hold them in your hands but can only see, use or sell them through the use of digital devices.

Some examples of digital assets include cryptocurrencies, digital art, domain names, social media accounts, and even online content like blog posts or videos.

Assets like these are usually kept electronically and can only be transferred or sold online.

The fact that they are not tangible doesn’t in any way reduce their value because they can be used to generate income the same way a physical asset (like a house) can too.

Types of Digital Assets

1. Cryptocurrencies like Bitcoin, Ethereum, etc.
2. Digital Art and NFTs
3. Domain Names.
4. Social media accounts or websites with a large following. 

5.Digital content like blog posts, eBooks, YouTube videos, and online courses.

6. Software and applications. If you have coding skills, you can create and sell them.
7. Music and Media Files.

8.Your personal brand

9.Virtual goods like virtual land in the metaverse.

The internet has made it possible to start a digital asset business with 100,000 naira from home. Here’s a step-by-step guide on how you can get begin;

1. Choose a Niche

Which of the above listed digital assets are you interested in? I usually recommend starting a business with something you love and are interested in. So which one does it for you? Is it cryptocurrencies, digital arts, content creation, etc?

Like every regular business type, there may be challenges along the way. But to overcome these challenges, one thing that will keep you motivated is the love and passion you have for it.

Then conduct some market research on your chosen niche to see which one has growth potential around you.

2. Learn the Basics of your chosen niche

Before you start investing, take a while to learn about it. If you are still confused about two or three niches, this is a good time to research them to know which one you actually want to start.

There are plenty of articles and resources available for you online. Check on YouTube for tutorials, there are even blogs that can teach you the basics about your niche.

You may also want to spend a little money on paid courses or programs to understand your niche better.

Another tip is to join and interact with online communities, forums, or social media groups that are related to your niche. You may gain helpful insights, tips, and maybe even opportunities from being a member.

3. Create a Budget structure

Divide the 100,000 naira you want to start with into different categories, maybe in percentages.

Example 5% (i.e 5,000) for buying  courses.

20% (i.e 20,000) initial investments  to buy the cryptocurrencies, domain names, digital arts you want to trade.

10% for marketing and to buy tools you might need, etc.

Be careful to start with smaller investments since you are just beginning your journey to minimize risk. For example, you can decide to buy a small amount of cryptocurrency or a few domain names.

4. Set Up Your Digital office.

Depending on your chosen niche, you will need some specific tools. Different niches need different tools. Here are some examples;

For cryptocurrency investment and trading, you need 

1. Digital Wallet like Luno, Trust Wallet, Binance Wallet, or Coinbase Wallet to store and manage your cryptocurrencies.
2. Trading Platform. Most digital wallets also have trading platforms. These trading platforms also have tools that will help you analyze and track the market.

iii. Tools to track your portfolio like CoinMarketCap or Blockfolio. You need these ones to monitor your investments and see how the market is moving.

To create and sell NFT, you need

1. Set up your NFT Marketplace Account on a popular platform like OpenSea, or Binance NFT. This is the account you will use to create, buy, and sell NFTs.
2. Use a digital wallet like Trust Wallet that supports Ethereum and other relevant blockchains to transact your NFTs.

iii. You also need design software that you can use to create digital art. Opt for free options like GIMP or Krita or from your 100,000 capital, you can get paid alternatives like Adobe Photoshop, or Illustrator. The paid ones are better than the free ones so if your budget allows, I would recommend starting from there.

1. You also need cloud storage services like Google Drive or Dropbox to store your digital artwork and other NFT-related files.

If you are interested in flipping domain names;

1. Set up an account with domain registrars like GoDaddy, and Namecheap
2. Register on domain marketplace to sell, and auction your domain names.
3. If you would like to develop some of your domains into a full blown website, you can use website builders like WordPress, or Wix.

If you prefer to create create content or blog posts, you need the following;

1. Website/Blog Platform: Set up your website or blog with the use of platforms like WordPress or Blogger.
2. Content Management System (CMS) like WordPress to manage your blog posts, media, and other content.

iii. Graphic design tools like Canva or Adobe Spark to create beautiful graphics for your blog posts.

1. A writing tool e.g Google Docs and a proofreading/ editing tool, e.g Grammarly.
2. SEO Tools like Yoast SEO (for WordPress) or Google Analytics to make your content rank high on search engines.
3. Lastly, you need tools that will help you make money. So set up Google AdSense, affiliate marketing accounts (e.g., Amazon Associates).

There are several other needed tools for the other types of digital assets. You will discover more while researching on your specific niche.

One thing is certain, regardless of the specific digital assets business you want to start, you will need a steady internet connection since most of your work will be done online.

5. Remember the budget you made earlier? Use a part of it to make your first investment.

This may mean:

Buying a little amount of Bitcoin, Ethereum or other cryptos.

Buying a few domain names that have the potential to be bought at a higher value.

Start creating your first digital content or artwork and upload them to an online market place like Etsy, Fiverr, or Upwork.

As you progress, try out different strategies in your niche to see which domains or artworks people are more attracted to and want to buy.

6. Sell your assets once they gain value.

If someone wants one of your domain names, you can sell it at a higher price. If the cryptocurrency you bought has gained value, you can sell it off. If someone is willing to pay for the content or artwork you created, you can sell it off too.

The goal here is to make money from your asset.

Some of your digital assets can even generate passive income for you, e.g eBooks you published on platforms like Amazon kdp, digital arts or if you rent out domain names instead of selling them outrightly.

7. Use social media to market your business.

If you don’t tell people about it, they wouldn’t know to patronize you. Some of your customers may come from your social media following.

Some platforms that really do well to market this kind of business are Instagram, TikTok or Twitter.

LinkedIn can be used to publicize your ability to create digital art, write books or blog posts, etc.

Also, building a portfolio to showcase your work has a way of attracting clients and opportunities.

Conclusion

In this digital age we live in today, digital assets are an interesting way for you to build wealth and pursue financial independence.

It doesn’t matter if you are on the creative side, or very techy or whether you’re a really smart business person. There is a digital asset business opportunity that fits into your skills, interests and unique personality. Which of the ones listed above will you be starting with?