The idea of making money while you sleep is certainly a tempting proposition. In today’s world it’s easy to set up a passive income with very little to no capital required.
Most passive income ideas will still require a bit of an effort though, but if you do it right then soon it will be on auto-pilot. Try your hand with these 4 ideas:
Invest in Bitcoin
Bitcoin is making the rounds both on and off the world wide web not just as a future form of payment but also in the investment and financial world as well.
Simply put, Bitcoin is a digital asset you can buy or acquire through various means. It’s like cash but in digital form. Once you have it you can store it and wait until the value goes up, then you can sell for a profit.
Understandably, the stock market and cryptocurrency exchanges are drawing parallels to each other. If you want to invest in Bitcoin or cryptocurrency you will need a guide such as Bitcoin Circuit in order to make sound decisions.
Create a Useful App
Everything is an app nowadays. From ordering food to controlling your smart appliances, apps are here to stay.
You can tap into this utility market and have a developer create an app for you. It shouldn’t just be any app- the one you make has to be useful or is something that hasn’t been made into an app yet.
You will need to expend time and energy to create an app, but once it’s on the App Store or Play Store you can just sit back and wait for the downloads to come in. There are several ways you can monetize, from ads to in-app purchases and donations.
Write an Ebook or Course
Don’t let your talent, skill or expertise go to waste. If you have knowledge that people will want to know about, then it’s best to write it down and turn it into a product you can sell online, such as an e-book or an online course.
Publishing is easy, and there are a number of ways on how you can release it to the market. Amazon is one example, or you can pitch it to experts in your respective niche.
Once it’s out there you can generate interest by creating content on your website or on social media.
Set Up a Website
Most people earn money on the internet and start with a website. It’s incredibly versatile and can be turned into an affiliate marketing platform, a blog, an e-retail shop and more. If you’re familiar with web design you can make your own theme and layout.
The main idea of setting up a website is to direct traffic to it and monetize either by ads or by selling a product. To supplement your passive income you can create a YouTube channel and make money by getting views and subscribers.
You will need to invest in time and content creation to get the business up and running but once it’s established you can just let it run on its own pace.