The Web is a brilliant way to make money these days. It’s enabled more of us to work from home using nothing more than a computer and an Internet connection. And with the growth of mobile ‘net usage, it’s possible to work anywhere using 4G/LTE and a laptop.
You might think that all those people need to sit in front of a computer all day to make a living. But, you may not know that a lot of savvy sole traders have a passive income stream. In other words, they earn money without the need to do much work at all! Want to get in on this amazing way to make a living?
Well, first of all, I should tell you that you’ll need to do SOME work. When setting up a passive income stream, you must do quite a bit of work from the outset. With that in mind, let me share with you six legitimate online revenue streams:
1. Social Lending
If you’ve got a lump sum of cash and you want to make it work for you, here’s an idea. Why not lend it to other people? Social lending platforms like The Lending Club allow you to do just that. In return, you get a good interest rate on your investments.
2. File Sharing
Yes, there are services like Dropbox that you can use. But, some people don’t trust such platforms. Instead, they wish to use alternative file sharing services. If you set up a seedbox, you can automate payments from customers. In fact, there is little you will need to do manually!
3. Binary Options Trading
Most people assume that you have to sit glued to several computer screens before trading. What they don’t know is that the process can get automated with a trading robot. Obviously, you’ll need to configure a good strategy first. But, assuming you’ve done that, you could make a comfortable passive income!
4. Share Investments
The Internet allows you to buy and sell shares in private and public companies. Many broker sites charge small fees and let you take a DIY approach to stock investments. If you have a good eye for seeing profit potential, this option is for you.
5. Middleman Services
Believe it or not, many of the online services you use get provided by other companies. The firms that provide the platforms you use are just middlemen.
You could cash in by setting up an outsourced online business. For example, you could offer web or graphic design services. You could also offer SEO services and market your brand as a digital agency. In reality, other people do the work for you.
Although a saturated market, blogging is still a brilliant way to make a passive income. All you need to do is buy a domain and arrange hosting for it. Next, hire a copywriter to create some compelling content for your blog. You can also hire an advertising expert to market it.
Once it becomes a popular blog, you can start to sell advertising on your site. Many bloggers earn more money through their blogs than with their day jobs!