This is the famous internet question. How to make money online?
However, it is crucial to know that the legit ways of making some extra cash or a really good income online are not some get-rich-quick-schemes like the ones found all over the internet. So if you think you are going to become rich immediately after doing what I will explain here, think again.
- YouTube Channel
Having a YouTube Channel is one of the best ways of making money online, no matter where you are. If you have a passion, a niche, or simply something you really care about, why not make a YouTube channel about it?
When you monetize your YouTube, you get paid per advertisement playedbefore and during your video. You also get paid when viewers click on the ads.
Advertisers pay approximately $1-$5 dollars per view/click while others can pay much more than that.
Many YouTubers have become successful due to this platform. Many of them are already making six figures a month, equal to millions per year! Let that sink in…
- Write Ebooks
Are you a writer? Or perhaps just passionate about a topic that you can go on and on about? Then this might interest you.
Today, writing ebooks is easier than it has ever been due to the unlimited online resources and platforms we have. You can write many ebooks and self-publish them on Amazon with Kindle Direct Publishing. With this method, you can be making money as you sleep.
Do the math. Let’s say you make a profit of $15 per ebook bought and you sell 2-5 ebooks daily. Yearly, you are looking at $10,950-$27,375! The more ebooks you write, the higher possibilities of selling 2-5 ebooks daily you’ve got.
- Peer-to-Peer Lending
What is peer-to-peer (P2P) lending? It is the method of lending and borrowing money without the use of a bank or other financial institution.
Many borrowers turn to P2P to obtain a loan because they may have been denied one at their bank, or they simply do not need to borrow a large amount of money. Now, imagine you are the bank and you lend them $1000 with a 19.19% interest. Your profit will be $191.9.
The most famous P2P companies are Prosper and Lending Club. The way they work is: a borrower looks for a loan, so a group of lenders (like you) put their money together to reach the borrower’s requested amount and as the borrower makes their monthly payments, all the lenders get their cut.
Keep in mind, the more you invest, the more you can make. However, this is a slow progress and its success is not in your hands.
- Invest in Stocks
I know you may have read or heard about stocks. What are those? “Stocks are a type of security that gives stockholders a share of ownership in a company. Stocks also are called ‘equities’” (investor.gov). When you buy a stock, you buy a share of the company (you do not own the company, mate). When the value of the stock you purchased goes up, you make money. When the value decreases, you lose money.
This is definitely the toughest way to make money on this list because it requires time, patience, strategies, and hours of self-education to become a great investor. You do not want to invest in a stock that will only cause you to lose your money! So this process is draining, but high-paying.
Finding the right broker for your needs also takes time, you want to make sure that the broker you choose does not charge fees that you cannot afford.
- Become a Website Tester
Have you ever visited a website and felt the need to comment on how functional or dysfunctional it was? Now you can do it and make at least $10 per website.
When you sign up with User Testing, they notify you every time you qualify for a new testing and when you successfully test the website by clicking around and continuously speaking, you get paid via Paypal a few days later. I have personally done this and have gotten paid! You won’t get rich, but you’ll have a few bucks that you didn’t have before.
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