Contributed Post
Image Source. Licensed under Creative Commons.
The internet has given birth to all kinds of new ways of making money. Some of these moneymaking methods require minimal effort but can be incredibly lucrative if you’re lucky enough, making them a great source of passive income, while others can be exciting and fun, such as searching for and playing the best money making games. Here are just a few examples of ways to make a passive income online.
Sell things online
There are lots of sites such as Gumtree, eBay and Amazon in which you can sell items online to make a quick buck. By regularly selling items through these platforms, you could set up a secondary income for yourself.
It’s possible you may be able to sell your clutter for cash. Many of us have unused possessions in our homes such as old clothes and unwanted gifts that could be of value to someone else. By selling a few items each month, you could make a little bit of extra money on the side.
Another option could be to buy items and sell them for a profit online. This requires being a little shrewder and may involve selling antiques or collectibles which you’ve sourced somewhere cheap.
There’s also the option to sell things you’ve crafted yourself online. This does require a lot more effort, although it depends on the item you’re crafting. Certain items like printed t-shirts may not require much effort at all to produce (this man’s guide at https://steemit.com/life/@chocolatelab/the-secret-way-i-earn-monthly-passive-income-selling-t-shirts-on-amazon-com could be worth reading as an inspiration!).
Sell digital products
You can also make a passive income selling digital products. This could include photographs, e-books or music/podcasts.
Sites like Shutterstock are common for selling photographs, whilst iTunes is popular for eBooks and music. Creating a product that people want to buy isn’t easy and may require a certain level of innovation. Stock photography is a popular option for photographers, whilst self-help books and short stories can be a great option for eBooks. When it comes to audio, you could try to sell a song or album you’ve created or you could create a podcast offering people advice (foreign language learning podcasts are popular).
This site https://www.shopify.co.uk/blog/digital-products offers more information on how to sell such products.
Invest in cryptocurrency
Cryptocurrency trading is the hottest new investment trend. These currencies are entirely digital – the most famous example being Bitcoin which was initial invented as a neutral currency to get around international currency transfer fees. Nowadays, there are lots of different cryptocurrencies and they’ve become more of an investment asset than anything else.
You can make money from cryptocurrency by buying a currency as it’s rising in value and then selling it for a profit. By buying and selling lots of different cryptocurrencies using a blockchain and getting lucky, you can turn this into a passive income.
Blockchain technology is thought to be a big deal in the future. Sites like https://blockchain.intellectsoft.net/blog/rethink-trust-8-ted-talks-about-trust/ offer more information on this technology and on cryptocurrency. By doing your research, you can better to get to grips with this type of investment and maximise your chance of a return.
Try peer-to-peer lending
Peer-to-peer lending is another form of investment made possible due to the internet. It involves lending money to other users online in the form of a loan. These users then pay back the loan in instalments with interest added on. This interest allows you to then make a return.
When getting involved in peer-to-peer lending, you’re best off using a trusted and well-established site. Generally speaking, the more you’re willing to lend and the more instalments you’re willing to allow, the greater the potential return. You can find a detailed guide to this form of passive income at https://www.magnifymoney.com/blog/personal-loans/p2p-lending-the-complete-guide-for-peer-to-peer-lending6869480/.
Generate ad revenue from blogging/vlogging
It’s also possible to make a passive income via ad revenue. You can do this by starting a blog or a vlog and then displaying ads on it – you’ll then make a small amount of money every time people click on these ads.
Blogger and WordPress are popular blog platforms. You can usually start displaying ads on these platforms straight away but you may not be allowed to claim earnings until you’ve made a certain amount through ad revenue.
As for vlogging, Youtube is the most popular platform. Youtube only allows users to monetise videos once they’ve gained a certain amount of views.
In both cases, you’ll need to create engaging content – which is no easy task. You should also avoid using copyrighted content as this could prevent you from being able to display ads. Sites like https://www.jeffbullas.com/blog-advertising/ offer more information from making money using this method.
