Are you in search of ways to make money online to supplement your primary income? Or do you want to work on your own terms and go online full-time because you are tired of the 9 to 5 grind?
You are not the only one.
I get asked these questions a lot: How do I make money on the side or earn a living online?
Whatever your reasons may be, the good news is that there are many reliable techniques to start making money in 2024.
Let’s explore in detail some of the best ways of earning income on the internet.
36 Ways to Start Making Money Online
- 1. Starting a blog
- 2. eToro
- 3. Building a niche website
- 4. Starting a YouTube channel
- 5. Starting a podcast
- 6. Dropshipping business
- 7. Selling print-on-demand products
- 8. Becoming an influencer on Instagram
- 9. Selling online courses
- 10. Publishing and selling eBooks
- 11. Freelancing
- 12. Become a writer on Medium
- 13. Creating an app
- 14. Online garage sales
- 15. Flipping goods online
- 16. Flipping sports cards
- 17. Testing websites and apps
- 18. Try Amazon Mechanical Turk (MTurk)
- 19. Buy Amazon return pallets and sell them
- 20. Take surveys for cash
- 21. Sell your photos or digital art
- 22. Sell your handicrafts on Etsy
- 23. Become a translator
- 24. Make money as a gamer (Twitch)
- 25. Buy and sell custom domains
- 26. Tutoring online
- 27. Selling your music online
- 28. Become a virtual assistant
- 29. Online stock trading
- 30. Get paid for hacking
- 31. Become a mystery shopper
- 32. Sell consulting services
- 33. Play online poker tournaments
- 34. Get into crypto trading
- 35. Create and sell NFTs
- 36. Try play-to-earn crypto games
A quick primer for making money online
The on-demand or gig economy is flourishing, allowing people to pursue their passions and also be their own boss. There are no quick and easy ways to get reach. However, many people enjoy that independence.
In fact, many experts will tell you that traditional employment is dead as we know it.
You can easily find freelance, flexible or temporary jobs online and work from home. If you are more enterprising, it’s possible to start your own online business with minimal investment (or even for free) and make a living from it.
There are many ways for everyone to earn and still enjoy freedom from a predetermined schedule and an overbearing boss. You don’t even have to be tech-savvy to do it.
Below are some of the best options to build an income source online (or side hustle) for beginners from the comfort of your home.
1. Starting a blog
Blogging is among the most popular ways of communication online and can be used for monetization purposes.
It is a useful instrument for sharing information and important news with people with similar interests and affinities. It allows you to share your perspective about topics that you are passionate about.
Your blog could be about anything – interior décor, politics, business, management, app-building, or any other topic under the sun.
As long as you can write well about the subject matter at hand and understand what your audiences want to read, blogging can be a lucrative way to earn money online.
How to start a blog and make money
Here are the steps you need to take to set up your blog in no time:
- Select a niche that you are passionate about.
- Choose the right blogging platform.
- Buy a domain name and web hosting.
- Install WordPress software.
- Select a theme and make design changes.
- Start writing unique and useful content.
- Optimize blog content for SEO.
- Publish it.
There are many ways you can turn your blogging efforts into profits. Here are the 4 most popular ways blogs monetized:
- Affiliate marketing
- Selling advertisement
- Selling digital products
- Selling services online
Pros and cons of blogging
Pros
- Low startup costs.
- Ability to tap into a worldwide audience.
- Huge income opportunity, ones your blog is popular.
Cons
- Takes time to generate a return on investment (ROI).
- It is time-consuming if you are blogging full-time.
Success stories
Here are examples of two bloggers who make a living via blogging:
- Pat Flynn started his high-earning blog “The Smart Passive Income” after the economic collapse of 2008 when he was laid off. Since then, his website has grown into an interactive education and training company.
- Another blogger, John Chow, began his blog JohnChow.com, to help readers explore ways to build their income from zero to six-digits. Follow him to learn more about the earning potential of having your own website to talk about your favorite things.
Earning potential
The average income of a blogger is $33,128 per year. However, that income can go up to a million dollars easily if you are focused on investing consistent time and effort.
Turnaround time
It usually takes 6-12 months to start generating some feasible income from a blog.
Starting costs
$2 – $20 per month
Blogging is an excellent way to make money online without investing a huge amount of capital in optimizing your online presence.
Depending on the blogging platform and blog setup you choose, blog hosting will cost you around $2 to $20 per month. Most hosting companies, such as Bluehost, will provide you with a free domain name for one year with their plans.
When it comes to additional startup costs, you might need to invest in WordPress themes, email marketing, plugin development, coding, page designing, and a lot more.
2. eToro
eToro has established itself as a leading social trading platform that allows users to follow and copy the trades of expert investors.
The platform comes with a user-friendly interface and a diverse range of investment options, eToro is designed for both new and experienced traders looking to navigate the complexities of financial markets.
By using the collective expertise of seasoned investors through eToro’s CopyTrading feature, even those with limited trading knowledge can step into the world of investing and start building a portfolio.
eToro users can engage with various markets, including stocks, cryptocurrencies, and commodities, to diversify their investment strategies and increase their chances of financial gain.
How to make money online with eToro
Here are the steps to start making money online with eToro:
- Register on eToro: Complete the sign-up process and verify your account.
- Learn the Platform: Get to know the eToro interface using the demo account.
- Educate Yourself: Use eToro’s educational resources to understand trading.
- Fund Your Account: Deposit an amount you’re comfortable with for trading.
- Start Trading: Choose assets you know and make your first trades.
- Copy Successful Traders: Use CopyTrading to mirror the moves of pros.
- Manage Your Investments: Regularly check and adjust your portfolio.
- Withdraw Earnings: Cash out profits as per eToro’s withdrawal procedures.
Pros and cons of eToro
Pros:
- Social CopyTrading
- User-friendly interface
- Wide range of markets
- Free demo account
- Regulated platform
Cons:
- Wider spreads
- Regional product limitations
- CopyTrading risks
Earning potential:
On eToro, your earning potential can be significant as it offers access to a wide range of trading and investment opportunities, along with the unique advantage of learning from and copying the trades of experienced investors through its Social CopyTrading feature.
Turnaround time:
The turnaround depends on the type of trading, market conditions, and strategy. It can be anywhere from 1 day to a few months.
Starting cost:
Free to start
eToro is free to start, but the cost depends on how much you want to invest, the market you choose, and the asset you choose.
Additionally, while eToro offers commission-free trading for stocks, there are other costs to consider, such as spreads (the difference between the buy and sell price), overnight fees (also known as swap fees, which are charged when you hold a CFD position open overnight), and withdrawal fees.
3. Building a niche website
Niche websites are another great venture that can be turned into a profitable business.
If you want to work at your own pace and enjoy more flexibility while earning money online, try building a niche website. The site should be aimed towards a micro-topic and target keywords that appeal to a very specific audience. That way you get high-quality website traffic that converts into buyers, and if your website becomes popular it can bring you a lot of money in the long term.
How to set up a niche website and make money
To launch a niche site you need to:
- Select the specific interest that you are an expert in.
- Choose a domain name.
- Find a hosting provider and set up your site.
- Create and fill your website with content.
- Optimize your site for search engines.
- Launch the niche website.
Websites that target certain niches can generate income via:
- Affiliate programs (such as Amazon Associates).
- Run display ads (such as Adsense and Ezoic).
- Selling your own digital and physical products.
Pros and cons of niche sites
Pros
- Massive potential for growth.
- Low startup costs.
- Less competition.
Cons
- Takes time to grow your audience base.
- Requires regular maintenance.
Success stories
Here are two examples of niche websites making good money:
- Allen Walton, a high-school dropout, founded his spy camera website that is now on track to earn a seven-digit revenue.
- Mr. Money Mustache is another niche-specific website created by a retiree, and it focuses on personal finances and tips about saving money.
Earning potential
A niche website has the potential to generate an income between $200 and $4000 per month.
Turnaround time
It takes six months to two years to start earning from a niche website, depending on the type of products and services you sell and promote.
Starting costs
From $3.00 per month
With a robust web hosting service, you can earn recurring revenue without investing a huge amount of money as startup costs.
Setting up your niche website with shared hosting costs around $3.00 per month, which includes a free domain that comes with the one-year plan.
Moreover, if you decide to create a niche website using the website building platforms like Wix, you need to consider its pricing plans from $14/month. Additional costs include website theme, content, integrations, SEO, and marketing or even purchasing a stable internet connection.
4. Starting a YouTube channel
People around the world use YouTube to watch videos for education, entertainment and more.
You could monetize this phenomenon by creating and publishing videos online. If you are enthusiastic about a particular topic that lends itself well to video, starting a YouTube channel is the way to go.
How to start a YouTube channel and make money
To create a channel on YouTube, you need to:
- Create an account on YouTube.
- Activate your channel.
- Select a profitable niche.
- Complete the channel description.
- Insert your logo and necessary artwork.
- Start making videos.
- Promote your channel beyond YouTube.
YouTube channels earning money in the following ways:
- Turn on ads for your videos.
- Promote affiliate products.
- Charge for channel memberships.
Pros and cons of running a YouTube channel
Pros
- No upfront costs.
- Gain access to a vast audience base.
- Doesn’t require technical skills.
Cons
- Takes time to gather an audience for your channel.
- High competition.
Success stories
Here are two YouTubers that make big checks from videos:
- Ryan’s World is a YouTube channel with 27.2 million subscribers. In the videos, 9-year-old Ryan Kaji plays with toys and reviews them for the benefit of his young subscribers. He is one of YouTube’s highest-paid stars, making $29.5 million in 2020.
- PewDiePie is run by Felix Arvid, a Swedish YouTube Vlogger who has amassed 108 million subscribers by offering reviews about video games. His channel earned around $13 million last year.
Earning potential
On average, YouTubers earn $3 to $5 per 1000 video views, but this number may vary for your channel.
Turnaround time
You can only start to earn money from YouTube if you have a linked AdSense account. Moreover, you need to have 1000 subscribers and 4000 hours of clocked watch time within the past 12 months for the platform to allow you to monetize your channel.
Starting costs
Free to start
To start a YouTube channel, you just need to sign up to YouTube for free, make your profile and start sharing videos without worrying about the startup costs.
If you want to record high-quality videos, you need to spend money on video production equipment such as a camera, microphone, light, etc. for which you can invest between $500 to $10,000 for high-quality video-making gear.
If you go for a video editing platform like Adobe Premiere Pro, you might need to invest $239.88 for its recommended annual plan.
5. Starting a podcast
If you have the gift of the gab and don’t mind talking up a storm about your interests, then perhaps you should have your own podcast.
It is a very effective medium for hobbyists to share their interests and for business owners to create brand awareness and tap into a vast audience.
How to start a podcast and make money
Here are steps you need to take to launch your podcast show:
- Select your topic, name, and target audience.
- Plan the format for each episode (length, guests, call-ins).
- Create the artwork and write a description for the podcast.
- Select the right equipment to record and edit the podcast.
- Record and edit your audio files.
- Find the right podcast hosting provider.
- Publish it to podcast directories through the RSS feed.
Here are the best ways to monetize a podcast:
- Sell ads and sponsorships.
- Ask your listeners for donations.
- Create paid memberships content.
Pros and cons of podcasting
Pros
- Offers access to a vast audience.
- Simple to create.
- Higher consumption rate than other mediums.
Cons
- Time-consuming to create.
- Requires patience to build an audience base.
Success stories
Example of two popular podcast shows:
- John Lee Dumas hosts the podcast “Entrepreneur on Fire,” in which he has interviewed 2,600 top entrepreneurs and business owners about how they have succeeded in making their mark in the world.
- The Tim Ferriss Show podcast by Tim Ferris has been ranked as the number 1 podcast by Apple podcasts on several occasions, and it has exceeded 600 million downloads.
Earning potential
If your podcast manages to achieve 10,000 downloads per episode, you can easily make $500-$900 per episode with affiliate marketing.
Turnaround time
Based on your audience growth, some podcasters start generating an income in 6 months, while it may take longer than a year for others.
Starting costs
$5 to $50 per month
Even though you can spend a lot of money to start a podcast, you don’t necessarily have to. The following are some important considerations you need to make while calculating the starting costs of a podcast.
Podcast hosting starts from $5 to $50 per month. While podcast editing software ranges from $9/month to $500 if you go for a one-time purchase.
If you don’t have the proper equipment to start a podcast, you need to invest in a computer, microphone, audio editing and recording software, and high-quality headphones.
6. Dropshipping business
With dropshipping, you can quickly sell products online without handling huge amounts of stock and carrying an inventory.
How to start a dropshipping business
Here are seven steps that you need to complete to launch a dropshipping store:
- Find a dropshipping business niche or idea.
- Conduct competitor analysis.
- Find the right supplier that aligns with your requirements.
- Build an online dropshipping store.
- Promote your dropshipping business.
- Maintain your website and business.
- Keep optimizing your online store to increase sales.
Pros and cons of dropshipping business
Pros
- Sell products from any niche.
- No inventory required.
- Little to none upfront costs.
Cons
- Problems with suppliers such as inaccurate stock information.
- Slow products deliveries.
Success stories
- Meowingtons started small with cat-related products, and now they attract thousands of visitors to their site each day thanks to their stellar online promotional campaigns.
- District of clothing is a print-on-demand store that gradually grew its revenue through influencer marketing.
Earning potential
Successful dropshippers can earn between $1000 and $50,000 per month with $100 – $20,000 in profits.
Turnaround time
It can take up to 6 months to a year to start earning profit from your dropshipping store.
Starting costs
Starts as low as $29/month
With a low barrier to entry, you can easily start a dropshipping business without investing a huge amount of money spent on inventory.
To build a dropshipping store, you will have to sign up for a Shopify subscription that starts as low as $29/month preceded by a 14-day free trial. Investing in a domain will also cost around $2 to $15 per year.
There’s an ongoing cost associated with drop shipping that includes your eCommerce platform’s plan renewal.
7. Selling print-on-demand products
A print-on-demand business is a great way to monetize your creativity and sell customized products online.
Best of all, this strategy makes it possible for you to forego investment requirements and inventory risks, and go straight to selling bespoke products (mugs, diaries, t-shirts, etc.) at a fraction of the cost.
How to start selling print on demand products
Here are five steps process to start your own print on demand business:
- Find a unique niche idea.
- Start creating designs.
- Select your print provider/marketplace.
- Start adding products to your store.
- Promote your store on popular platforms.
Pros and cons of printing on demand model
Pros
- Design and create products quickly.
- Low upfront costs.
- No inventory.
Cons
- No control over shipping.
- No access to your client list.
Success stories
- A Los Angeles based print-on-demand enthusiast, Peter Fitzer, sold over 25,000 products and earned $500K in his first year of business.
- Liora Goren is a mother and an Etsy seller who started her fast-growing online store called Ahatvi Lifestyle, which offers print on demand home décor items such as bath mats, towels, and much more.
Earning potential
Depending on the markup and sales numbers, you can earn between $500 and $15,000 every month. However, your experience and promotional strategies are also an important part of this equation.
Turnaround time
The turnaround time depends on how quickly your brand starts to land sales.
Starting costs
Free to start
You can start your print-on-demand business for free or start from $24.99 if you opt for a premium print-on-demand site.
To avoid coming across some unexpected bumps on the road to set your print-on-demand business, you need to be aware of the expenses involved.
You can go for print-on-demand sites such as Printify that offer a Free version and a Premium version of $24.99/month. You can also opt for Printful that charges you for the fulfillment, shipping, and other applicable taxes on every order, or go for RedBubble that deducts its service fee, shipping costs, and manufacturing fee at every sale.
8. Becoming an influencer on Instagram
Popular Instagram influencers earn millions by creating promotional content for brands. However, before you can get there, you’ll have to start your Instagram profile and page, and then go on to build quality content that attracts followers.
Once you have amassed enough followers (several thousand at least), brands will begin to take an interest in what you can do for them.
How to become an influencer on Instagram
- Select a niche you are passionate about.
- Create high-quality and engaging Instagram posts.
- Select a consistent design theme.
- Write an enticing Bio.
- Write captions that encapsulate your brand’s voice.
- Select the right hashtags.
- Follow a consistent schedule to post new content.
- Interact with your followers.
- Reach out to brands that work in your niche.
- Collaborate with other influencers.
Pros and cons of Instagram business
Pros
- Opportunities to work with highly profitable brands.
- Free products.
- A chance to inspire people.
Cons
- It’s a 24/7 job.
- Immense efforts to gain an audience.
Success stories
- Huda Kattan, a beauty blogger, and Instagram influencer has 48 million followers. She started with makeup tutorials, and now she manages her own makeup company by the name of Huda Beauty.
- Kayla Itsines is a personal trainer on Instagram with nearly 12.7 million followers, and she posts workout videos and diet plans.
Earning potential
Here is how Instagrammers make money – with 6000 to 10,000 followers, you can expect to earn an average of $88 per post, but with more than 1,000,000 followers, you can earn $670 per post.
Turnaround time
The turnaround time depends on how quickly you manage to build a loyal audience base.
Starting costs
Free to start
You can become an Instagram influencer and gain a huge follower base without investing money
For high-quality content, you might need to invest in a good camera-quality smartphone or a camera. You can also publish custom graphic design posts if you are good at design or hire a graphic designer to do it for you.
9. Selling online courses
You can now leverage the power of the internet and help learners seeking to learn new things through online courses.
How to sell online courses
- Select the topic.
- Conduct market research to analyze the demand.
- Clarify the learning outcomes.
- Create the content.
- Select the right course selling platform.
- Promote your course online.
Pros and cons of selling courses online
Pros
- High-profit margins.
- Charge high prices for premium content.
- Courses can be about a variety of topics.
Cons
- Need an online service to host the course online.
- Success depends on the demand for that course.
Success stories
Nick Stephenson created an online course for professionals to improve their marketing efforts, and he managed to earn $130,208 in his first week.
Earning potential
You can sell your online course on a monthly subscription basis or for a lump sum amount. Its cost really depends on the content’s quality and demand. If you’ve done the market research right, you’ll know what your audiences are willing to pay for it.
Turnaround time
The turnaround time depends on how quickly you promote your course to the right audience, attract them and sell your course.
Starting costs
Free to start
There are several different options to create an online course that you can choose from according to your budget.
If you decide to go for an online course platform such as Skillshare, it is entirely free to sign up, but every time you sell a course, it cuts a share from the profits.
Similarly, Udemy is another online course platform that is entirely free to sign up for, but it takes a share of your profits for every course you sell.
There are certain ongoing costs associated with selling your online course that includes the renewal of online course platforms or video hosting subscriptions. Other expenses include a good video camera, presentation software, email marketing platform, webinar platforms, or payment processing apps.
10. Publishing and selling eBooks
With self-publishing on the rise, this is an excellent time to write and sell your own eBooks to establish authority on a topic you hold expertise in.
How to publish and sell eBooks
- Choose the eBook topic.
- Decide a title for the eBook.
- Write the eBook.
- Format the eBook.
- Proofread and edit it.
- Select a cover that appeals to your audience.
- Add it to a website.
- Promote your eBook.
Pros and cons of self-publishing an eBook
Pros
- Easy to publish.
- Low upfront costs.
- Write about any number of genres that interest you.
Cons
- Requires expertise in a specific niche.
- Don’t have a support team such as an editor or an agent.
Success stories
- Stefan Pylarinos is an internet marketer who has managed to earn six-figure revenue by writing and publishing non-fiction eBooks on Amazon.
- Kyle Taylor, the owner of The Penny Hoarder, succeeded in making $2000 from his Kindle eBook about backpacking.
Earning potential
This depends on the price you set for each eBook. So, if you are selling one eBook every day for $17, you can earn $500 in a month.
Turnaround time
The turnaround time depends on the time it takes for you to attract an audience for your eBook and sell it.
Starting costs
Free to start
Creating and selling an eBook requires no or minimum investment. All you need is a Word document, convert the document into pdf and send it out to people.
Other expenses of creating and selling an eBook include investing in a computer if you don’t have one, a well-designed eBook cover, and a payment processing app.
11. Freelancing
Freelancing offers you the opportunity to exercise your skills and work in whatever niche you are passionate about. This is a great way to earn money on your terms.
How to start freelancing
- Select a niche.
- Clarify the services that you offer.
- Determine your ideal client.
- Create a high-quality portfolio.
- Build your credibility.
- Set your pricing.
- Plan the perfect pitch.
- Start landing freelance gigs.
Pros and cons of freelancing work
Pros
- Flexible working hours.
- Complete control over your workload.
- High potential to make a lot of money.
Cons
- Highly competitive marketplace.
- Prone to distractions and procrastination.
Success stories
- Chiara Ferragni, one of Italy’s most influential people, started freelancing with a small travel blog and soon turned into an international star.
- Kelly Vaughn, a web developer, left her government job to start her own fast-growing freelance business.
Earning potential
A freelancing gig’s income depends on the type of work you pitch for and the pricing you set for each task. But on average, a freelancer manages to earn $19 an hour.
Turnaround time
You get paid according to the terms set with your client, which is mostly at the end of submitting a task.
Starting costs
Free to start
Stepping into the world of freelancing is a huge step but there are some important factors that you need to consider before you start such as the starting costs.
It is completely free to sign up to a freelancing platform and start getting gigs. You can also create your own website to showcase your work. You need website hosting that starts at $2.75/month with a free domain name.
There are other expenses associated with freelancing that includes ongoing costs of hosting, domain renewal and social media management tools and plugins, office equipment, bookkeeping and payment processing software, and a marketing campaign.
12. Become a writer on Medium
Medium is an online publishing platform that allows you to share your stories and ideas with a diverse audience.
How to become a writer on Medium
- Create an account on Medium.
- Write a story or a blog.
- Format the text of your pieces.
- Integrate media or images .
- Share the draft and hit publish.
- Analyze the results.
Pros and cons of Medium platform
Pros
- Allows you to reach a vast audience.
- Generates high traffic for publications.
- No SEO efforts required.
Cons
- You do not own your content.
- No tracking or analytics option.
Success stories
- Tim O’Reilly, the founder of O’Reilly Media, writes insightful articles about technology and business on Medium and has gained 257K followers.
- Biz Stone, the CEO of Jelly Industries, offers business advice to startups through Medium. He has gained over 204K followers.
Earning potential
If you post at least one story in one month, you can earn up to $100 per month.
Turnaround time
The turnaround time depends on the time it takes for your profile to grow your follower base and reach.
Starting costs
Free to start
Medium allows you to sign up for free and start earning money by writing to its huge audience base.
Other expenses of starting as a writer on Medium include investing in a computer or laptop if you don’t have one already.
13. Creating an app
With the rise of apps, you can now make a lot of money by developing an app.
How to create an app
- Plan your app.
- Observe competing apps with the same target audience.
- Start building your app.
- Create a wireframe.
- Design the visual aspects of the app.
- Observe the app’s front-end and back-end.
- Test your app for bugs.
Pros and cons of building apps
Pros
- High revenue potential.
- Complete control over the project.
- High scalability potential.
Cons
- Consumes time and money.
- Frequent complex maintenance.
Success stories
- Sylo Smart Wallet app, founded by Dorian Johannink, is a social fintech app that exceeded 100,000 downloads in just two months.
- Six Clouds – Ignite app, founded by Dip Dhingani of Creole studios, is now used by more than 2500 users in Uzbekistan daily.
Earning potential
The revenue per download of an Apple app is $0.1, while revenue for a Microsoft app is $0.1538 per download.
Turnaround time
The turnaround time depends on how effectively you market your app and gain an audience.
Starting costs
Starts at $18/app/month
To create an app, you need app development tools such as Appy Pie that starts at $18/app/month, or Ionic that allows you to start for free and later upgrade to $42/month.
14. Online garage sales
If you want to earn money while decluttering your house, an online yard sale is the best way to make the most of unwanted items in your home.
How to make money with an online garage sale
- Scour the house for unwanted and unused items.
- Gather all of the things.
- Take pictures of all the stuff.
- Observe eBay and Craigslist to see the prices of similar items to get an idea of pricing.
- Start listing the items.
Pros
- No effort required to move items to your yard.
- No competition.
- More potential buyers than physical garage sales.
Cons
- The high cost of advertising for paid listings.
- Incurs shipping costs.
- Takes effort.
Success stories
Sarah from Abundantly Normal, a decluttering blog, managed to earn $2000 by selling her old stuff. This included course books that were not used anymore and video games on eBay and Amazon.
Earning potential
The earning potential depends on the individual and the collective price of the items you have chosen to sell.
Turnaround time
The turnaround time is based on the promotion of your listing and how quickly you manage to get it in front of your target audience.
Starting costs
Free to start
You can easily declutter your house and sell all the unwanted items without spending a single penny on the online garage sale.
You can easily hold an online garage sale on Facebook communities or sell them on apps and websites dedicated to online garage sales without spending any money.
15. Flipping goods online
This is when you buy things at economical rates and then sell them at a higher price to gain profit.
How to flip stuff online
- Select a niche.
- Find items to sell through online garage sales or auctions.
- Look for unique or expensive items to sell.
- Take pictures of the items.
- Price the items.
- List the items on online selling marketplaces.
- Offer a clear description of the item.
- Include shipping information.
Pros
- Variety of niches to select from.
- Low upfront costs.
- Flexible timing.
Cons
- Inconsistent income.
- Requires effort and hard work.
Success stories
Glen Zubia started flipping to supplement his wages, but the revenue surpassed his primary income in a year. He bought two Disney statues for $20 each from a garage sale and managed to sell them for $3000 on eBay.
Earning potential
If you are just getting started, expect to earn around $500-$1000 each month.
Turnaround time
The turnaround time depends on your income goals, but you could be all set to flip items online to earn money in a week.
Starting costs
From $0 to $200 per item
There’s absolutely no barrier to entry when it comes to flipping used items that you can easily find at thrift stores or garage sales.
Any amount of money is enough to get started with flipping items. You can even get started for free if you flip items that you already own.
Buy a used item or sell your own household item on Facebook, Craigslist, eBay, or Amazon with no ongoing costs or a considerable start-up fee.
16. Flipping sports cards
If you have a sports card collection, you can easily make money out of them by merely flipping them online.
How to flip sports cards
- Capture high-quality images of your sports card collection.
- List the cards in the right category on online selling marketplaces.
- Offer a clear description.
- Emphasize their condition.
- Set your pricing.
- Promote your credibility.
Pros
- Receive the selling price that you specify.
- Sell cards at your own pace.
- High revenue potential.
Cons
- High shipping costs.
- Deal with low-ball offers.
- Pay a commission to COMC.
Success stories
Karni, a high-volume sports card seller on eBay, has over 14,000 listings with 600-800 shipments going out every month.
Earning potential
The earning potential of flipping your sports cards depends on their actual price and the increase in value at the particular time you are selling. A sports card that you buy for $40 might be valued at $80 after a few months.
Turnaround time
The turnaround time depends on how quickly the sports card reaches its target selling price.
Starting costs
From $20 per item
Regardless of your budget limitations, you can flip sports cards online by either starting as a collector, investor or even both.
To flip sports cards, you can start from any price point that you want. If you do not have enough money to invest, you can start with a $100 budget.
Set a budget for the amount of money that you are willing to spend on sports cards. For long-term investment, you need to gather sports cards on generational icons.
17. Testing websites and apps
If you are tech-savvy and have a stable internet connection, you can test websites and apps for developers and get paid for your work.
How to test websites and apps
- Sign up to an online website or app testing platform.
- Test the functionality of the site or app by checking all the links, cookies, HTML, and CSS.
- Perform usability testing by checking the navigation and content.
- Test the interface, including the Application, web server, and database server.
- Check the database.
- Test compatibility across different browsers and devices.
- Monitor performance.
- Check security.
Pros
- You get experience as a QA tester.
- Improve your analytical skills.
- Low competition.
Cons
- High upfront costs for training etc.
- Requires technical knowledge and experience.
Success stories
Justin Houser encountered some financial challenges which forced him to review websites to generate income and pay off his debts. He started with trymyUI which promised to pay $30/hour. Then he switched to User Testing and later Amazon FBA. Since switching to Amazon FBA, Justin has earned a six-figure income by reviewing popular websites.
Earning potential
The majority of website testing companies pay $10 for each test, while some pay $15 to $25.
Turnaround time
You get paid as soon as you complete each test.
Starting costs
Free to start
To test websites and apps from home, you just need to be internet savvy and have all the right equipment to perform the tests.
Other expenses might include the costs of basic equipment to perform online tests including a computer, microphone, and a stable internet connection if you don’t already have one.
18. Try Amazon Mechanical Turk (MTurk)
Amazon Mechanical Turk is an online crowdsourcing platform where you can perform menial tasks remotely for a small amount of money.
How to earn money through Amazon Mechanical Turk
- Register on Amazon Mechanical Turk.
- After your application is approved, you will see HITS or tasks on your dashboard.
- Complete and submit your HIT.
- The Requester approves the submitted HIT.
- See your earnings on the Dashboard page.
- Go to the Earnings page and enter the amount you want to transfer to your bank account.
- Enter Amazon Payments account password.
- Add your banking information.
- Complete the steps to transfer funds to your account.
Pros
- Lots of available tasks.
- Transfer the earnings to your bank account easily.
- Flexible working schedule.
Cons
- Low income.
- High-paying assignments require added qualifications.
- Need to complete a task in 3 minutes.
Success stories
Kristy Milland switched to Amazon Mechanical Turk after earning money through odd jobs and started making $100 per day.
Earning potential
On average, you can earn $2 per hour on Amazon Mechanical Turk.
Turnaround time
You can start earning as soon as you complete the HITs.
Starting costs
Free to start
Choose from a variety of available tasks and start to apply for skills that interest you on Amazon Mechanical Turk. It is completely free to sign up to Amazon Mechanical Turk and start looking for HITs that interest you.
If you don’t have a proper computer or a stable internet connection, you might have to invest in one.
19. Buy Amazon return pallets and sell them
Amazon sells its return pallets at huge discounts, so buying pallets and reselling the items can help you to make a lot of money.
How to buy and sell Amazon return pallets
- Register with B-Stock as a buyer to access Amazon Liquidation Auctions.
- Submit a reseller certificate form.
- Log in and check the current auctions.
- Review the auction lot manifest.
- Start bidding on your desired auctions.
- Register with BULQ to buy Amazon return pallets at fixed prices.
- Repair or refurbish the purchased items if necessary.
- Accessorize to maximize their value.
- Make product bundles.
- Take pictures of the items.
- Repackage and grade the items.
- Set the pricing.
- List the items on online selling marketplaces.
Pros
- A wide variety of niches and brand-name products.
- Low upfront costs.
- High-profit margins.
Cons
- Requires thorough competitive analysis.
- Requires extensive knowledge of buyer demand.
- Some goods may be damaged.
Success stories
Neil Barker bought around 320 items on B-Stock for £3,500 (around $4,800) before finding out that they were worth nearly £20,000 (over $27,500). He profited pretty nicely when he sold them on eBay at around 60% of their retail value.
Earning potential
The earning potential depends on the purchased items’ retail values and your chosen pricing.
Turnaround time
The turnaround time depends on your marketing efforts.
Starting costs
From $100
You can start investing for as little as $100 to buy Amazon return pallets before reinvesting your profits. If you want to purchase them through a bidding process, you might need to invest a bit more.
You’ll need to consider the monthly Amazon seller fees and shipping costs as well. Some sellers allow you to pick up the pallets in person to save on shipping costs.
20. Take surveys for cash
Hundreds of businesses are looking for feedback and opinions about their products or services to make their processes more efficient. You can leverage this opportunity by filling out their surveys from the comfort of your home.
How to earn money by taking surveys
- Select a company and register with it after assessing its legitimacy.
- Create your profile and fill out all of the relevant details.
- Get the company surveys through email.
- Fill out the survey questions.
- Start earning rewards in the form of points or cash.
Pros
- Consumes little time.
- Work on your schedule.
- Requires no qualifications.
Cons
- Low income.
- No daily surveys.
- No fixed earnings.
Success stories
Chris Muller paid his debt of $80,000 in credit card and student loans in just three years by taking online surveys.
Earning potential
Businesses pay anywhere from $1 to $20 to anyone willing to fill out their surveys. But you can expect to make at least between $1 and $5 for each survey.
Turnaround time
You get paid as soon as you fill out a survey and submit it.
Starting costs
Free to start
Taking online surveys is one of the easiest ways to earn some spare cash online. The more surveys you take, the more money or points you get that you can later redeem.
To take surveys, you can either sign up to paid survey sites and earn money or look for websites that pay you for taking online surveys.
21. Sell your photos or digital art
Are you a talented artist or a designer? In that case, you can capitalize on your skills by selling your photographs or digital artwork online.
How to sell your photos or digital art
- Determine your target audience.
- Assess what you should be selling.
- Set a price.
- Approach the right marketplace to sell your digital artwork, such as Shopify, Etsy, etc.
- Distribute your artwork on multiple platforms to increase revenue.
Pros
- No hassle of inventory, printing, or packaging.
- Low investment.
- High profits.
Cons
- Illegal sharing of your digital files.
- A lower price point damages your bottom line.
- Misrepresentation of your artwork.
Success stories
Tara McPherson is a New York-based artist who has sold her artwork on multiple platforms and went on to create posters for rock bands such as Metallica.
Sebastian Gomez de la Torre is a Texas-based illustrator that sells artwork on his website.
Earning potential
Your digital artwork can fetch $1 to $50 depending on the quality and appeal of your product as well as the popularity of your talent.
Turnaround time
You start earning money as soon as you start making sales, which can vary for different selling platforms.
Starting costs
Free to start
Digital artwork serves as a lucrative option for generating income by doing what you love without the worries of overhead costs. You don’t need to invest any money to start selling your digital artwork and photographs online.
Some expenses might include investing in a good-quality camera for striking photographs or graphic designing tools to create mesmerizing artwork.
22. Sell your handicrafts on Etsy
If you are good at making jewelry, knitting, sewing, crafting of any kind, or making printables, you can easily earn money online through your creativity by using the Etsy platform.
How to sell your handicrafts on Etsy
- Determine what you want to sell.
- Set your online shop on Etsy.
- Decide on the name, logo, and profile picture.
- Fill in the required details.
- Take high-quality pictures of your handmade crafts.
- List the products on Etsy.
- Decide and set the pricing.
Pros
- Access to thousands of buyers.
- Variety of niches to sell in.
- Get paid quickly.
Cons
- High competition.
- Etsy charges 3.5% of the item’s sales price in addition to payment processing costs.
- Limited options to customize your Etsy shop.
Success stories
Toriska is an Etsy brand that deals in handbags and clutches, making substantial earnings from Etsy.
BeeZeeArt is owned by an art student, Brittany Zerkle, and it sells sewing patterns and handmade stuffed animals on Etsy.
Earning potential
On average, a person can earn $3,400 per month by selling handmade crafts on Etsy.
Turnaround time
The turnaround time of your Etsy store depends on the sale of your handmade crafts.
Starting costs
$0.20 per listing + 5% fee
When it comes to selling handcrafts on the Etsy store, it is important to keep things simple or it becomes difficult to launch your online store.
To start selling on Etsy, you need to pay a listing fee of $0.20 per listing along with a 5% transaction fee on the sale price of the handmade item.
Other than the listing and transactional fee, you might need to invest in the materials necessary to make those handmade items.
23. Become a translator
Online translation has become a lucrative industry, especially since more businesses than ever are choosing to go global with their products and services.
How to become a translator
- Become accredited or certified in a particular language.
- Take language proficiency tests.
- Start practicing your skills as a translator.
- Build an online presence.
- Find platforms and communities that offer translator jobs.
- Set your pricing.
Pros
- Flexible work schedule.
- No upfront investment.
- Low entry barrier.
Cons
- Inconsistent income.
- Stressful deadlines.
- Requires qualifications and in-depth knowledge of a language.
Success stories
Donovan Nagel offers translation services in Egyptian Arabic and earns a handsome income to live comfortably.
Earning potential
On average, a translator earns $20.62 per hour.
Turnaround time
The turnaround time depends on how quickly you land a client and start offering your services, and for that, you need to market yourself.
Starting costs
Free to start
There are several websites online where you can advertise your services as a freelance translator to earn some money on the side. But when you are just starting out, you need to consider the amount of money you need to invest in.
If you are fluent in a specific language, there are no starting costs associated with becoming a translator.
Some additional expenses might include investing in a good computer or a stable internet connection.
24. Make money as a gamer (Twitch)
Twitch is an online platform that allows gamers to record videos while playing games and charging viewers to see those videos.
How to earn money as a gamer on a Twitch account
- Sign up for Twitch and register your account.
- Build your audience by becoming an accomplished player or playing popular games.
- After gaining followers, Sign up for the Twitch Partnership Program.
- Enable the monetization options available on Twitch.
- You can also earn money without signing up for the partnership program through donations, promotions, and several other tactics.
Pros
- Generate high revenue.
- No upfront costs.
- No technical skills required.
Cons
- Twitch takes a cut on subscriptions and streaming.
- Streaming only broadcasts for 24 hours on Twitch.
- Extra effort to register your revenue for taxes.
Success stories
Johnny MacDonald has acquired more than 2000 monthly subscribers. He also invites other pro-players to compete with him on his profile while he does the commentary.
Jaime Bickford earns $1 to $1000 in tips when she live-streams her gameplay as a female professional player in Rocket League.
Earning potential
On average, professional and experienced players make around $3000 to $5000 each month on Twitch. This number does not include any ad revenue.
Turnaround time
To start earning, you need to qualify for the Twitch Affiliate Program. It has multiple requirements, including having at least 50 followers over the last 30 days, three or more concurrent viewers, and more.
Starting costs
Free to start
If you are starting your Twitch journey, you need to know that earning money with your Twitch account is all about investing in the right equipment, features and maintaining an active audience.
Making an account on Twitch and streaming games is completely free.
You might need to invest in a desktop or laptop that aligns with the system requirements of the game. Moreover, you need to get a high-speed internet connection and remain prepared to pay taxes and fees.
25. Buy and sell custom domains
In this tech-centric world, an online business that deals with buying and selling custom domains offers lucrative opportunities.
How to buy and sell custom domains
- Set your budget.
- Choose a niche.
- Search for high ranking keywords.
- Look for local domain names.
- Search for existing domain names.
- Look for domain names that are relevant to your keywords.
- Buy a new domain.
- Build an impressive domain portfolio.
- Promote the domains you want to sell.
Pros
- High revenue opportunities.
- Low competition.
Cons
- Requires effort and time.
- Demands experience and knowledge.
- It takes some time to generate an income.
Success stories
Ali Zandi, founder, and senior broker at Starfire Holdings earned $58,000 in profit after selling 8 domains within just 60 days of acquiring them.
Earning potential
By selling domains, you can earn over $100,000 per year.
Turnaround time
It can take months or even years before your domains get any attention online and you manage to make a sale.
Starting costs
From $10 to $2000
Domains are found in various price ranges which is why buying a domain depends on your budget.
Buying a domain will cost you from $10 to several thousand dollars.
You can either purchase a domain that has already been registered or purchase the domain and register it. A new domain costs around $10-$20 while a registered domain can be expensive.
26. Tutoring online
If you have specialized training in any subject, from physics to dance, you can teach it to people online. Use cameras, microphones, and presentation software to deliver lessons from your home.
How to start selling online tutoring
- Select the niche you want to work in.
- Prepare your equipment and computer.
- Select the right tutoring software.
- Decide on your rates.
- Create an online presence.
- Opt for payment processing software.
Pros
- Minimal startup costs.
- Variety of topics to teach.
- Leverage your community relationships to land more clients.
Cons
- Well-rounded experience to earn more revenue.
- You have to work at the time when your client is available.
- High competition.
Success stories
Theo started his own online tutoring business, StudentCircle, which is rapidly growing and attracting more clients as the years pass.
Khan Academy is another online learning platform that started with personalized tutorials delivered online by Sal Khan, an American educator, and entrepreneur.
Earning potential
Online tutors earn at least $30 per hour. However, you can expect to earn around $50 to $60 per hour by offering SAT prep services or teaching other subjects that require expertise.
Turnaround time
As a self-employed online tutor, you earn when a student gets in touch with you. But if you are working with an online agency, you can expect to earn as soon as you are assigned a student.
Starting costs
Free to start
Tutoring is a lucrative method for earning money online with no upfront costs and a flexible work schedule.
With online tutoring, you might need to invest in a good computer, microphone, and headphones if you don’t already have them.
27. Selling your music online
If you love composing music, it can serve you as a side-gig or even a full-time job and pave the way for a profitable music career.
How to sell your music
- Determine your business plan.
- Select the music genre you want to play and sell.
- Decide on the music format and the form of products you want to sell your music through.
- Package your music creatively with graphic designs and artwork.
- Set a price.
- Sell it online either through social media platforms or music streaming platforms.
Pros
- You keep all revenue.
- Complete freedom to make music on your terms.
- No startup investments.
Cons
- You may not know the right audience to tap into.
- No guarantee of payments right away.
- High barrier to entry.
Success stories
Ben Phipps succeeded in achieving over 18 million Spotify plays after pitching his song to hundreds of YouTube channels and several SoundCloud channels and bloggers.
Earning potential
If you decide to sell your music to YouTube, you can earn money through its Partner Program that generates revenue whenever someone clicks on an ad and sees your video.
Turnaround time
Once you’ve sold your music, the platform releases it on their own schedule. For example, Apple iTunes takes 1 to 7 days, while YouTube Music takes 1-2 days to review and approve it.
Starting costs
Free to start
If you love music, this is the best way to earn side money by selling your music to distribution networks or online labels and get your music on iTunes, Spotify, and other streaming platforms.
Some of the most popular music distribution platforms include LANDR that offers a free plan and 15% commission. Tunecore is another platform that charges $9.99/year for a single and $29.99/year for an album.
28. Become a virtual assistant
As a virtual assistant, your job is to provide online support to your clients. Businesses may also hire you to remotely provide customer services and follow up on clients.
How to become a virtual assistant
- Determine the services you want to offer as a virtual assistant.
- Set your pricing.
- Create a website to enhance your online presence.
- Create an impressive resume that showcases your skills.
- Start applying for virtual assistant jobs.
Pros
- Complete freedom to set your own work schedule.
- Set your own rates.
- No upfront costs.
Cons
- You can get distracted.
- No company paid incentives.
- Work longer hours to meet deadlines.
Success stories
Caylie Martin is a stay-at-home mother who started working as a virtual assistant and quickly managed to earn $800/month.
Earning potential
On average, a virtual assistant earns $15.78/hour.
Turnaround time
The turnaround time depends on the workload, projects, and the number of hours you put in.
Starting costs
Free to start
Like other businesses, even becoming a virtual assistant requires very low startup costs which can be even lower if you have everything you need to do your job.
Other expenses include a computer, internet connection, phone to call clients, and investing in business licenses.
29. Online stock trading
Online stock trading is a great way to earn money, but it can also be quite risky if you don’t know what you are doing. To earn a profit, you need to research the market and make appropriate investments.
How to get into online stock trading
- Get in touch with a trustworthy online broker.
- Research each stock you plan to buy.
- Determine the type of trade order you want to place.
- Understand the expenses of trading stocks.
- Observe how trading stocks affect your taxes.
- Start trading your stocks.
Pros
- Low fee charges.
- Offers more flexibility and control.
- Observe investments in real-time.
Cons
- Can trigger impulsive behavior.
- High pricing volatility.
- High risks of misinformation and fraud.
Success stories
In 2010, Tim Grittani traded penny stocks and turned his life savings of $1,500 into his current net worth of $4 million.
Earning potential
For some people, their earning potential is in the millions when it comes to online stock trading, while it only results in a loss for some. Be very careful if you are taking this route.
Turnaround time
Typically, you can make money in almost half an hour, or it might take years for you to see a profit. It depends on the market situation, the stocks you choose to invest in, and your propensity for risk when investing. Remember, the greater the risk, the greater the reward.
Starting costs
From $100 to $100,000
There are three different types of costs associated with trading stocks online that you need to consider before you set out to invest in it.
To trade stocks online, three different costs include a fee per trade with average charges of $8.90, a broker-assisted fee of $30.99, and an account maintenance fee of $32.50.
Apart from these charges, brokerages often charge miscellaneous fees that include account transfer charges, wire transfer fees, or the annual fee on checking accounts.
30. Get paid for hacking
Ethical hacking helps you earn good money if you are passionate about testing your ability to bypass security systems to make a living.
How to get paid for hacking
- You need a comprehensive knowledge of networking, programming, databases, and operating systems.
- Learn UNIX/LINUX.
- Master the art of cryptography.
- Get in tune with the latest hardware tools for hacking.
- Enroll in an online course about hacking.
- Connect with other ethical hackers on social media platforms.
- Sign up for online tutorials.
- Download practice environments to hone your skills as a hacker.
Pros
- Highly valued career option.
- High chances of growth.
- No barrier to entry.
Cons
- Invest in gaining skills and knowledge.
- Involves legal risks.
- Information disclosure.
Success stories
HackerOne is a bug bounty platform that earned more than $1 million by detecting vulnerabilities in nearly 1500 organizations’ systems.
Earning potential
The average income of a certified ethical hacker is $83,591 annually. However, it can go all the way up to $129K if you are good at it.
Turnaround time
The turnaround time depends on your skills and how much time it takes to build your credibility and experience.
Starting costs
Free to start
If you have a passion for coding and want to build a career in ethical hacking, you can start for free.
But if you want to build your skill sets, you can opt for paid certifications and courses. The most widely recognized certificate for certified ethical hackers costs around $1,199 and the retakes charge $450.
31. Become a mystery shopper
You get to work with customer research panels, spend your day visiting various online businesses, and interacting with them to gauge their propensity for customer service. Working as a mystery shopper is a highly flexible way to earn money as a side-gig.
How to become a mystery shopper
- Decide the area you want to work in.
- Sign up with companies as a mystery shopper.
- Log into their job portal and look for things like the location, time, and pay scale.
- Sign up for multiple shops in a day.
- Fill in the shop report.
Pros
- Flexible work schedule.
- Work from home.
- Get paid to shop.
Cons
- Inconsistent earnings.
- You will need to register with multiple companies for a steady income.
- Might come across scams and frauds.
Success stories
Kristin Larsen managed to earn over $1231 from mystery shopping in just a year. This amount consisted of reimbursement, shop fee, and bonuses.
Earning potential
The average salary of a mystery shopper in the US is $15.37 per hour.
Turnaround time
You start to earn money as soon as you sign up with the company and submit your shop reports.
Starting costs
Free to start
Mystery shopping is all about getting paid to shop and enjoying free or reduced-price products and services.
To become a mystery shopper, you do not need any upfront investments.
32. Sell consulting services
This involves offering advice and tips to businesses and individuals by leveraging your own experience. So, if you have extensive professional experience, this career option is for you.
How to sell consulting services
- Create a plan for selling your consulting services.
- Set the goals you want to achieve by selling your consulting services.
- Make sales your number one priority.
- Invest time in getting better at sales.
- Set your pricing and payment software.
Pros
- Low upfront costs.
- Work for clients from various industries.
- Flexible work schedule.
Cons
- No steady income.
- High competition.
- Cannot determine the results.
Success stories
Paul Jarvis from CreativeClass.io offers consulting services to freelancers who want to build a strong personal brand.
Earning potential
On average, a consultant’s salary ranges from $30,451 to $944,000 per year.
Turnaround time
You can generate income after each session with your client.
Starting costs
Free to start
Selling your consulting services is all about sharing your experience and wisdom with fellow professionals and charging them for it.
Although it is entirely free to start, you might have to invest in office equipment, a computer, scheduling software, and a communication tool.
33. Play online poker tournaments
If you are good at poker, try your hand at the online version to potentially make huge profits.
How to play online poker tournaments
- Download the online poker software of your choice.
- Integrate a credit card or prepaid card with the software.
- Select the online poker tournament from multi-table or sit and go.
- Add variations to the online poker tournament, including rebuys, reentries, and much more.
- Understand the rules.
- Play winning hands.
- Learn bluffing.
- Manage your bankroll.
Pros
- Play multiple tables at a time.
- Play while staying at home.
- Earn bonuses.
Cons
- Cannot call the bluff of the other opponent.
- Unstable internet connection results in your loss.
- Need skills and knowledge.
Success stories
Andrew Badecker started playing online poker and grew his skills to dominate the online poker marketplace with a total of $1,933,833 in winnings as of 2019.
Annette Obrestad earned money by winning freeroll tournaments. She even won a World Series of Poker bracelet while exceeding $3.9 million in profit.
Earning potential
You can win $57.50 a month to $12,000 a month, depending on your win rate and playing level.
Turnaround time
You get paid as soon as you win a game in online poker tournaments.
Starting costs
Starts at $1-$100
Online poker tournaments are considerably different from live ones. You can easily enter an online poker tournament by investing between $20-$100. If you are looking for UK poker sites, you can check some of the best online casinos at casinorank.co.uk.
34. Get into crypto trading
Since cryptocurrencies are highly volatile, crypto trading can be quite a profitable endeavor. However, it can also be very risky, especially if you don’t know much about the market, as the volatility can be at the benefit or detriment of your investment.
How to get into crypto trading
- Register with a cryptocurrency exchange.
- Link your bank account to your crypto account.
- Transfer fiat money to buy crypto assets.
- Choose one or more cryptocurrencies to invest in.
- Monitor the market to know when to buy or sell crypto.
- Obtain a cryptocurrency wallet to store your funds.
Pros
- Potential for high returns.
- High liquidity.
- Low fees.
Cons
- High volatility.
- Risk of huge losses.
- Security risks.
Success stories
In 2009, Kristoffer Koch invested only $27 in crypto trading and acquired 5,000 Bitcoin (BTC). As he wasn’t interested in Bitcoin, he forgot about his BTC, only to check his account four years later and discover that his balance was worth $886,000.
In 2015, Eddy Zillan invested $100 in Bitcoin and earned $10 just a few hours later. Soon after, he made $1,000, $5,000, and $6,000 investments, which helped him make $350,000. Today, his net worth is north of $1 million.
Earning potential
Your earning potential could reach millions, but be extra careful because the high volatility means an increased risk of losses as well.
Turnaround time
There are trading charts based on one, five, fifteen, and thirty minutes, as well as one and four hours, so you have options to earn money quickly.
Starting costs
From $100 to $1,000
You can start trading crypto with as little as $100, while a $1,000 capital investment is a common choice among crypto enthusiasts. You can start small to get the hang of it before investing more to start trading more seriously and, hopefully, make bigger profits.
Cryptocurrency exchanges charge average trading fees of 0.2% per trade, as well as miscellaneous charges that include transaction fees, withdrawal fees, wire transfer fees, charges when sending money via a credit card, and more.
35. Create and sell NFTs
Creating and selling digital assets as NFTs (Non-Fungible Tokens) can be extremely lucrative. You can create and sell music files, artwork, images, videos, GIFs, video game items, digital trading cards, 3D models, and more. You can even sell tokenized tangible items as NFTs, such as collectibles, clothing, and real estate.
How to create and sell NFTs
- Choose a blockchain (the leading one is Ethereum).
- Pick a compatible NFT marketplace (OpenSea, Rarible, and Mintable are the most popular for Ether).
- Register for an account.
- Connect your compatible crypto wallet.
- Go to “My Collections” and click the “Create” button.
- Add a name, description, logo image, and banner image.
- Upload your digital asset to the new collection.
- Set a royalty fee of up to 10% to earn a commission on every secondary sale.
- Select the payment tokens.
- Click on the “Sell” button.
- Choose the sale method (a fixed price, auction, or bundle).
- Post your listing.
Pros
- Huge earning potential.
- Potential for long-term passive income streams.
- Immutable ownership records.
Cons
- Not an eco-friendly process.
- Risk of security breaches and theft.
- Risk of duplication across platforms.
Success stories
Digital artist Mike Winkelmann, aka Beeple, sold an NFT of his digital work for a record $69.3 million at Christie’s, making it the most expensive NFT ever sold at auction.
Jack Dorsey, the CEO of Twitter, sold his first tweet as an NFT for over $2.9 million before converting the proceeds to Bitcoin and donating them to charity.
Earning potential
The earning potential could reach millions, depending on the type of digital assets, pricing, and buyer demand.
Turnaround time
The turnaround time is based on your promotion of the listed NFTs.
Starting costs
From $50
While creating an NFT is free within most marketplaces, there are certain upfront fees for first-time sellers. They include the minting fee ($40-$100) and the listing fee ($10-$20).
If you sell an NFT at an auction, you’ll have to pay for auction fees as well ($40-$100).
NFT marketplaces charge a flat fee of 2.5% on all sales, while some charge additional gas fees for every transaction, which depend on the current network congestion. Ethereum gas fees are lower during the weekend.
36. Try play-to-earn crypto games
Play-to-earn crypto games can help you make a lot of money, as you can earn crypto just for playing. You can also sell all of the in-game items you earn or purchase as NFTs on various NFT marketplaces.
How to make money with play-to-earn crypto games
- Choose a play-to-earn crypto game.
- Connect your digital wallet.
- Fund it with the required crypto.
- Buy in-game tokens to start playing.
- Complete daily tasks to earn native in-game tokens.
- Sell the in-game tokens as NFTs on an NFT marketplace.
Pros
- Earning NFTs by playing.
- Daily profits.
- High earning potential.
Cons
- Time-consuming.
- Bigger profits require frequent token purchases.
- In-game token prices keep increasing.
Success stories
Axie Infinity’s virtual real estate sold for 888.25 ETH, which equaled roughly $1.5 million at the time.
The Dragon NFT in the CryptoKitties game sold for 600 ETH (roughly $170,000 at the time), making it the most expensive CyptoKitty ever.
The Angel NFT in the Axie Infinity game sold for 300 ETH (around $130,000 at the time) on an NFT marketplace.
Earning potential
You can earn from $100 to $400 per day by playing these games, while you could earn thousands of dollars by selling your in-game NFTs.
Turnaround time
The turnaround time for making a profit can be as little as one week while selling your in-game NFTs can lead to revenues even faster.
Starting costs
From $0 to $600
Most of the PTO games are free to enter. However, there are some games that require initial investments in order to start playing.
Axie Infinity, one of the most popular play-to-earn crypto games, could be the cheapest to start with. It requires purchasing three Axies of around $200 each to start playing. Free-to-play crypto games require an upfront deposit.
There are fees for buying and selling in-game NFTs as well. For instance, Axie Infinity charges 4.25%.
Conclusion
If you are ready to earn money from a side hustle or you have decided to leave your monotonous 9-to-5 job, you are in luck.
Earning online in 2023 is even more exciting, thanks to the many opportunities available out there and the flexibility that comes with them. Consider your spouse helping you and making money online as a couple.
If you have any “How to make money online” queries, feel free to get in touch with us!
Very informative article, thanks for sharing.