To many people, earning passive income has always been a lofty dream that seems far away. However in this age of internet of information and money, the dream can become a reality if strategically pursued with the best tools both online and offline. Hence am gonna give you 10 ways to start making money passively right away.
1. AirBnB
This allows you to rent out your property space you might not be using currently to get some extra cash. Just visit airbnb.com and list that room or backyard cottage and see people booking it instantly. This option suites a property owner.
2. Uber
We all know uber ride sharing, yes it can be a great way to make passive income if you can buy a car register it with uber and get a driver to drive it for you.
3. Cryptocurrency
Yea, the latest kid on block. Cryptocurrency can give astronomical profits but its for people with high risk appetite because it can equally loose more than half of its value in 24 hour. Investing in major cryptos like Bitcoin, Ethereum, Litecoin and others can earn you huge amount of money in the long term.
4. ICO
This is also related to number 3, it is investing in Initial Coin Offering for cryptocurrency projects. just like your traditional IPO (Initial Public Offering) it simply means contributing fund in exchange for a cryptocurrency that is starting out. If the cryptocurrency does well your initial investment will skyrocket. It is not uncommon to see a profit of 1500% in ICO.
5. Mining Cryptocurrency
Mining in the crypto world is helping a particular crypto network be it bitcoin, ethereum or litecoin verify ongoing transactions with computational nodes (ASIC machines and Graphic Cards) and get rewarded for it in cryptocurrency. You can in turn sell the crypto for fiat money at an exchange.
6. Real Estate
This is the old school, getting a property and renting it out for passive income. But you gotta do you home work well to buy a well located property in an area where your target tenants are living. If done well, its pretty rewarding long term.
7. Blog
Piggy back the power of internet by starting a blog on what you are passionate about and earn top dollars from it. Why people chicken out at the first few months in blogging is because it takes some time for you to start earning money from your blog. The amount of money your from your blog (be it advert revenue, affiliate products or sell of digital products) is directly proportional to the amount of traffic you are able to generate to your website. So the first and easiest thing is setting up the website, then followed by written contents and the hard work of marketing your blog on various platform online to draw traffic and readership.
8. Vlog (Dtube/Youtube)
This is akin to blogging but on video. Record and publish videos on things you are passionate about and upload to Dtube/Youtube and earn from your video contents.
9. Ecommerce
In a world where most people buy their stuffs online, you can set up an ecommerce store using popluar platform like Shopify and WordPress (Woocommerce plugin) to sell stuffs and earn money while you sleep.
10. Build an App
If you have some technical coding skills, you can develop an app for iOS and Android and earn passively from the adverts that stream on the app if its a free app or earn from in-app purchases. Even if you are not a programmer, you can still do this buy outsourcing the app development.
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