How to Earn Passive Income Online?
assive income helps you and your family to live a better life and also enables you to reach your retirement goals faster. If you have a full-time job, you don’t have lots of time to create another source of income. So, let’s explore the different ways through which you can earn passive income without having to give a lot of time.
What are the Different Ways to Make Passive Income?
You can earn passive income from multiple sources and some of the easiest ways of doing it are:
1. Automated Trading:
It is the easiest way to make passive money. Even if you are a newbie with no skills or experience to trade financial assets, you can trade like a pro.
Automated trading involves online robots or specialized software that automatically scans the market in real-time, analyzes market data, and makes trading operations based on indicators built with these data.
As an investor, you can run techniques normally available in hedge funds. Having over-performing strategies and autopilot mode, you can start to begin building and managing a portfolio of quantitative strategies. Automated cryptocurrency trading bots such as NapBots can keep earning your passive income even when you are sleeping.
2. Stock Dividends:
Invest online in stocks that provide dividends. You can get the list of dividend-paying stocks from most brokerage firms. As dividends are paid by companies at the end of a quarter or a financial year on the basis of their excess earnings, always buy the stock before the ex-dividend date.
3. P2P (Peer-to-Peer) Lending:
Peer-to-peer lending has come up as a good source of making money. There are many P2P lending platforms where you can register yourself, deposit funds you want to loan, review potential buyers, and lend money at competitive rates.
This process does away with the middlemen, lending institutions, and banks, making the process effective, hassle-free, and profitable for both the parties (lenders and borrowers). Some of the leading P2P lending sites in the US are Lending Club and Prosper.
4. Network Marketing:
You simply have to build networks of people (from the spare time of your day or as per your convenience) who will buy or sell products. With the availability of the internet now, you can increase your network faster and earn your money to riches by spending only a part of your workday.
The best things about online network marketing are its low maintenance cost, no fixed time of work, and easy to expand internationally. You simply have to convince people to become a part of your network and start earning money. Creating an online presence will help you in expanding your business faster and making passive income easier.
Some of the largest network marketing (also called MLM or Multi-Level Marketing) companies are Amway, Market America, Avon Products Inc., Herbalife, Nu Skin, and many more.
5. Affiliate Marketing:
You can promote products of another company online and when a person buys any of those products through your affiliate link, you get a commission. You work as a salesperson of the company, which rewards you when you sell any of their products.
Unlike the salesperson of a certain company, you as an affiliate marketer can promote products of different companies and in turn earn passive income from all of them. Fiverr and Bluehost are definitely among the best affiliate programs that can help you earn the maximum amount of passive income.
Are Cryptocurrencies Good to make Income? How to make money from Bitcoin?
Yes, cryptocurrencies are good for making passive income. Here are some of the ways:
Buy and Hold Cryptocurrency:
The simplest way to earn money is to buy Bitcoin through crypto exchanges and hold them till their value increases to your expected level. If you invested in Bitcoin at the beginning of 2020, you could have earned over 170% when the market touched the all-time new high. It is a much higher return than any other asset class. Bitcoin has given around 170% return in 2020, giving more than ten-time return than both securities and gold. It may not give you a monthly passive income but can definitely make you rich at the end of the year.
The BTC/USD pair has high liquidity and significant movement can be seen throughout the day. Therefore, you can earn small profits in multiple trades, earning a significant amount of money at the end of the day.
If you are a newbie, don’t have the technical know-how to trade cryptos, or enough time for crypto trading, you can use Crypto Trading Bots, put them into autopilot, let the software automatically analyze market data, and make trading operations based on indicators built with these data. These AI-based bots help you to keep making money even when you are sleeping.
You can either mine Bitcoin or other cryptocurrencies individually by using rigs or use cloud mining. Individual mining needs a lot of initial capital and maintenance costs and is, therefore, more suitable for corporations.
If you are a small investor and also looking for regular passive income, cloud mining is more suitable. This is because you have to make a one-time payment for a contract and in return, you’ll receive earnings at the end of every month.
3. Lolli Account and Pei App:
Lolli browser extension helps you earn rewards in terms of Bitcoin when you purchase something from any of their partner sites including Walmart, Marriott, Macy’s, Hilton, Old Navy, Topman, Bloomingdale’s, Best Buy, 1-800-Flowers, OfficeMax, Office Depot, CVS, and others.
Pei mobile app provides you cashback rewards in Pei points when you buy something from one of their partner sites such as Taco Bell, Starbucks, Burger King, 7-Eleven, Lolli, Walgreens, Target, Petco, Panera Bread, Nordstrom, AMC Theaters, and others. You can convert Pei points to mBTC (where 1 mBTC is equal to 0.001 BTC, which in turn is equal to 100,000 satoshi). You can maximize your reward earning by using Lolli and Pei together.
4. Market Surveys:
Take market research surveys of companies such as Time Bucks and earn free Bitcoin as rewards.
5. Affiliate Marketing:
Earn free bitcoins by referring your friends and followers to do business with companies that are offering you cryptocurrency services. The merchant will provide you a unique URL first. You have to share this link with your friends and followers to buy the services of a merchant.
You generally get a commission on every sale your referrals make on the merchant site by using the unique link you provided them. Coinbase and BlockFi offer good affiliate marketing earning opportunities.
6. Open Interest-bearing Crypto Account:
When you buy Bitcoin and hold them, try to hold them in interest-bearing accounts such as BlockFi Interest Account, which offers an interest of 8% monthly and a yearly interest of 8.6% (compounded monthly). It grows your overall holding of Bitcoin.
Why are Cryptocurrencies a Good Investment to Diversify a Wallet Investment?
You should consider including cryptocurrencies in your portfolio for diversification because:
- It provides you with blockchain technology, which is immutable, unhackable, and traceable.
- There is no central authority to regulate Bitcoin, giving it a decentralized character, which in turn enhances the future potential of cryptocurrencies by making them more stable.
- Cryptos have independent character, making them suitable for diversification.
In 2020, it has given ten times more return than securities and gold. JPMorgan analysts believe that Bitcoin is likely to become the preferred investment instrument than gold because the largest crypto is likely to be considered as a better store of value than gold.
How are Cryptocurrency Investments more Interesting than Classical Investment?
All classical investments including stocks, bonds, gold, and others are centralized in some way or the other. Either a central authority or government has control over classical investment instruments.
However, Bitcoin is completely decentralized. It makes them more stable than other traditional investments, giving you one more reason to include Bitcoin or other cryptocurrencies in your portfolio and increase the stability and return.
When is the Right Time to Invest in Cryptocurrencies?
2020-21 is the right time to invest in cryptocurrencies. Let me tell you why?
The Bitcoin price is expected to rise to $50,000 by 2021-end, Nexo co-founder Antoni Trenchev has said.
An economic model of a respected on-chain analyst has predicted an unbelievable 10-time price rise of Bitcoin price by 2021-end. It can reach around US$200,000-to-$300,000 level.
US$24,800 Fib level (just below US$25,000) is the next most logical target once the BTC/USD pair breaches the US$20,000 resistance.
JPMorgan Analysts believe that investors have started considering Bitcoin as a better store of value than gold. They believe billions of dollars worth of investment can potentially flow from gold to Bitcoin. As more and more institutional investors move their capital from gold to Bitcoin, the price will go up exponentially.
Institutional investors have started parking their capital in Bitcoin and are buying heavily at every low. Cointelegraph Markets analyst Michaël van de Poppe and many others believe that big investors such as Paypal, Square, Grayscale, MicroStrategy, and many others are buying at lower levels as the small crypto “traders, shitcoiners, and weak hands” sell-off. Recent Chainanalysis data has confirmed that institutional bitcoin investors are leading the price rally in 2020.
Top 10 Best CryptoCurrencies in 2020-2021
Bitcoin Cash (BCH)
Stellar Lumens (XLM)
Trade with Cryptocurrency Trading Bots
Cryptocurrency Trading Robots automatically scan the market in real-time and trades for you. They run 24/7, which means that you can keep earning your passive income even when you are sleeping. This gives you an edge over other investors as it enables the bot to book profits on your behalf when other investors are sleeping.
Smart crypto investors always remain prepared to get the best of a big market move. They don’t wake up suddenly. To remain alert round the clock, they use cryptocurrency trading bots so that they don’t miss any big market movement.
NapBots.com is a Trading Bot, cloud-based platform, on which you can connect to major exchanges such as Binance, Bitmex, Bitfinex, OKEX, Kraken, Bitstamp, and Bitpanda.
The best thing about the Napbots trading software is that you don’t have to monitor charts and candles to predict your next move. Any novice trader with zero skills can also start trading like a pro and earn money with this unique trading tool. Let Napbots take full control over your trades in just a few clicks. Now, sit back and enjoy earning money.
What are the Differences Between Investing in Cryptocurrencies with Napbots and Without?
NapBots crypto trading software is special because it comes with:
- A unique trading algorithm that processes market data for you
- A unique crypto trading bot library so that you can create your own mix of trading strategies
- Autopilot mode that enables you to automate trading 24×7
- An easy-to-use interface so that you can copy the proven strategies of NapBots to make successful trades and make money
NapBots offers complete trading automation solutions through the use of its own tested trading strategies; offering quantitative trading strategies previously reserved for hedge funds to the public.
The setup and installation process are easy. So, the non-experts can also use it. The simple and special approach of NapBots helps it provide you with excellent ROI.
The team of professionals behind NapBots has extensive experience in the financial market. They have put their years of experience in place so that you can easily automate the management of your funds with no technical skills. This service can run 24/7 and work as your passive source of revenue even when you sleep.
Our pricing is simple and there are no setup fees. 7 days free trial is also available.
Are You Ready To Start Automating Your Passive Income Now?
If you still need assistance, you can refer to the following guides: