DISCLAIMER: Below is an article with ideas or a personal stance about finances. This article is not financial advice. Investing is risky. Please consult with a financial advisor before investing.
It’s 2022, where’s my magic internet money!?
Making money online has become a meme. Some claim it’s impossible and the domain of online scammers and influencers while they slave away at their 9-to-5 sinking their leftovers into the Wall Street bottomless pit getting an anxiety attack every correction, hoping they can retire before they die. Others will just say you’re lazy and you need to hussle more and one day the internet gods will make Satoshis rain down on you.
While you’re waiting for that Nigerian prince to get back to you or LUNA to hit all-time-highs again, there might be some options that offer you the control you need to mine that magic internet money.
Below is a list of 5 great online income options. Diversifying is key here. We recommend going for all of them instead of picking one and going all-in.
The quickest to get going, zero funds required is freelancing. You might be really good at something already, or have the passion to become good at it in the near future. Selling money for time may not get you rich, but it keeps the bills paid while you’re working on some more passive sources.
There’s some great freelancing platforms like Fiverr and Upwork, but they’ve gotten really crowded in the last years and it’s hard to stand it. Better options might be leveraging that personal network and cold calling or e-mailing. Having a personal website where you introduce yourself and give basic advice to hook potential customers in on top of that won’t hurt either.
Inform, entertain or educate the people and receive lots of love (and stablecoins). Monetize your audience trough ads, subscriptions, ebooks, affiliate links, whatever. A simple WordPress blog won’t break to bank but it might take 6-12 years before your blog starts gaining some traction on search engines and you get visitors sent your way.
When you get that magic money from freelancing and blogging it’s time to make some money sleeping. Passive income, baby! Get some blue-chip dividend stocks, buy-and-hold the next Amazon or Tesla or sell covered put or call options. LGF, OMG!
Stonks? OK, boomer! Can’t think of magic money without thinking of crypto. This new asset class will you take you to the moon, there’s much more out there than just Bitcoin. With the magic of defi you can even get some passive income from staking your coins while they’re preparing for the trip, or you can collect some of the free coins out there. Or maybe the moon landing was fake after all?
Think crypto lacks volatility? Want to go for that second or third mortgage? Get rich or go broke trying? Who needs liquidity, amirite? Just stay hydrated! You, sir, need some NFTs. You might remember some shiny artsy fartsy thingies like Crypto Apes or Bored Punks. Buy-and-holding might be the first thing you think of, but did you know there’s more and more cashflowing NFTs? Think renting land or breeding those Chunky Monkeys. We’re just getting started, baby!
This article was contributed by bizfinlife.com, a blog keeping all (aspiring) online entrepreneurs informed with articles about business, finance & lifestyle.