There are various ways in which this Coconut is used in everyday worship; the method usually depends upon the local traditions and customs. In this post, I would like to mention a simple form of worship of the Ekakshi Narial to appease Laxmi.
The Ekskshi Narial is kept in a Copper Kalash in the Puja Place. A little bit of water is put in the Kalash and the Narial is placed on top of it with portion of eye facing upwards. Every morning the water in the Kalash is offered to a Tulsi Plant and fresh water put in its place. Every Friday the Kalash is washed and cleaned.
Apart from the daily ritual mentioned above, it is also considered aspicious, to simply keep the Ekakshi Nariyal in the Cupboard.
The Ekakshi Nariyal has the under mentioned attributes according to the Tantra
Recovery of money and freedom from debts
Shatru Nash or annihilation of enemies and protection from dangers
Progress in trade, business and progress in employment and being transferred to desired location.
Marriages of girls and boys marriageable age.