HOW TO BUY GOOGLE SHARES IN NIGERIA
Google’s parent company, Alphabet Inc., went public in 2004 at an initial offering price of $85 per share. Since then, the stock has grown significantly, with its market capitalization reaching over $1 trillion in early 2020. Google is considerably a giant in the technology industry, and owning a share of the company can be a valuable addition to your investment portfolio.
One major factor in the growth of Google shares has been the company’s dominance in the search engine market. Google has consistently held a significant share of the global search engine market, with estimates putting their market share at around 92% in 2021. This dominance has allowed the company to generate significant revenue from advertising, with a reported $147 billion in ad revenue in 2020.
Additionally, Google has expanded into various other industries over the years, such as cloud computing, artificial intelligence, and mobile operating systems. These ventures have contributed to the company’s growth and its shares’ value. Buying Google shares in Nigeria is possible, and in this article, we will guide you through the process of buying Google shares as a Nigerian investor.
Choosing a StockBroker
To buy Google shares in Nigeria, you need to first choose a stockbroker. A stockbroker is a licensed professional who can buy and sell shares on your behalf. There are several stockbrokers in Nigeria, and you need to find a reliable one that can help you buy Google shares. Examples of reputable stockbrokers in Nigeria include Meristem Securities, Stanbic IBTC Stockbrokers, ARM Securities etc.
- Meristem Securities Limited: Meristem Securities Limited is a Nigerian investment firm that offers brokerage services for local and international securities. They have a dedicated team of professionals who assist clients in making informed investment decisions, including buying Google shares. To buy Google shares through Meristem Securities Limited, interested investors need to open an account with the firm, fund the account, and place a buy order for Google shares through their trading platform.
- Stanbic IBTC Stockbrokers Limited: Stanbic IBTC Stockbrokers Limited is a subsidiary of Stanbic IBTC Holdings Plc, a member of the Standard Bank Group. They offer a wide range of investment services, including stockbroking, investment research, and advisory services. To buy Google shares through Stanbic IBTC Stockbrokers Limited, interested investors need to open an account with the firm, fund the account, and place a buy order for Google shares through their online trading platform.
- ARM Securities Limited: ARM Securities Limited is a Nigerian investment firm that offers a wide range of investment services, including stockbroking, asset management, and investment research. To buy Google shares through ARM Securities Limited, interested investors need to open an account with the firm, fund the account, and place a buy order for Google shares through their online trading platform.
In terms of what makes each platform stand out, it can vary depending on the individual investor’s needs and preferences. For example, some investors may prioritize low transaction fees or a user-friendly trading platform, while others may prefer a broker with a strong research team or a wide range of investment options. It is important for investors to do their own research and compare the features and fees of different brokers to find the one that best meets their needs.
Open a Brokerage Account
After selecting a stockbroker, you need to open a brokerage account with them. This account will be used to hold your shares and to execute trades. You will be required to provide your personal information, including your name, address, and identification documents such as a passport or driver’s license. You will also need to provide your bank account details, as this will be used to transfer funds for buying and selling shares.
Fund your brokerage account
To buy Google shares, you need to have enough funds in your brokerage account. You can fund your account by transferring money from your bank account to your brokerage account. Most stockbrokers in Nigeria accept bank transfers, and some even accept credit card payments.
Place an Order
Once you have enough funds in your brokerage account, you can place an order to buy Google shares. You will need to provide your stockbroker with the number of shares you want to buy and the price you are willing to pay. Your stockbroker will execute the trade on your behalf, and the shares will be added to your brokerage account.
Monitor your investment
After buying Google shares, it is essential to monitor your investment regularly. You can check the current price of Google shares on the stock market to see if the value of your investment has increased or decreased. You can also receive updates from your stockbroker on any news or developments that may affect the value of your investment.
Taking Profit From Shares
It is not common for stockbrokers to offer profits in USDT or any other cryptocurrency. Typically, profits from stock investments are distributed in the currency of the country where the stock exchange is located. However, there are some crypto exchanges that offer the option to trade stocks or other traditional assets and receive profits in cryptocurrencies such as USDT. Examples of such platforms include Binance, FTX, and Huobi Global. It’s important to note that these platforms may not be regulated by the same entities as traditional stockbrokers and may come with additional risks. As always, it’s important to do your research and understand the risks involved before investing.
Exchanging USDT Profit for Fiat on DartAfrica
A relatively new and fast-growing cryptocurrency trading site called DartAfrica wants to make it simple and convenient for users in Ghana and Nigeria (for now) to sell cryptocurrencies for fiat. DartAfrica wants to serve a wide spectrum of users with different tastes, which is why it offers support for well-known cryptocurrencies including USDT, USDC, ETH, and BTC, with plans to expand this catalog. The fact that DartAfrica charges no transaction fees in contrast to other exchange platforms or conventional financial institutions is just one of the numerous possible advantages of using it.
The platform also provides simple navigation, quick and secure transactions, and a user-friendly design. To efficiently use DartAfrica:
- Head over to their website to register in very few quick and easy steps.
- Next, log in to your account and click “Security” to create a transaction pin for authorizing withdrawals.
- Click on “Account Details” to set up your local bank account.
- Click on “Sell Coins”, and select the coin you wish to deposit. Enter the USD amount (min $20).
- Click “Sell Now” and a barcode (and wallet address) is provided for you to deposit the equivalent amount you wish to sell. Once the deposit is complete, you can monitor your transaction in the “Trades” section and after 2 block confirmations, the equivalent fiat is deposited in your account. This can be viewed on your “Dashboard”.
- Click “Withdraw funds” and enter the amount you wish to withdraw to the already set up account in step 3. Your local bank is credited instantly with no hidden charges.
Overall, Google shares have grown significantly since the company’s IPO in 2004, with consistent revenue streams and expansion into new industries driving its market capitalization to over $1 trillion, buying Google shares in Nigeria is possible but it requires opening a brokerage account and having enough funds to execute the trade. Working with a reputable stockbroker who can provide guidance and support throughout the investment process is also essential.