A passive income is any form of income that allows you to make money without having to continuously work for it. The internet has opened up all kinds of new passive income opportunities worth exploring. Below are 7 examples of different ways to earn a passive income online
Online savings accounts
A number of exclusively online banks exist that offer savings accounts with high interest rates. These are often higher than interest rates you’d find in a traditional physical bank.
You can put some money in one of these accounts and watch it grow without having to do anything. Savings accounts are risk-free – you’re guaranteed to make some money and there’s no chance of making a loss. Just don’t expect to earn huge amounts of money on your savings unless you’ve got a large sum of money to invest.
Peer-to-peer lending
Peer-to-peer lending involves lending money to other internet users. They then pay the money back in instalments with interest fees added. This is done via peer-to-peer lending sites and apps that help connect lenders and borrowers.
To make money through peer-to-peer lending, you will need to have some money to invest upfront. There is also a risk that you may lose the money if the person borrowing is not able to pay it back (although it is possible to choose exactly who you lend to in order to minimize this). Interest rates for peer to peer lending can range from 1% to 7% depending on how much risk you’re willing to take.
BNB staking
BNB staking is a way of using cryptocurrency to generate a passive income without trading or lending. It’s worth looking into if you’re already invested in crypto assets.
BNB staking involves depositing tokens to support Binance blockchain operations in exchange for rewards each year. These rewards can equate to an annual percentage rate of 5.86 to 8.69%. BNB staking is still relatively new, but already very popular. You can learn how to stake BNB on Binance.US.
Ad revenue
By starting a blog or launching a YouTube channel, it’s possible to make a passive income by displaying adverts alongside your content. For every click on these adverts, you can make a small amount of revenue.
Read more: how to start a faceless scary stories YouTube channel.
In order to make a decent amount of money in ad revenue you need to be getting quite a lot of ad clicks, which means creating blog posts or videos that get lots of views. Most bloggers and vloggers are continuously creating content to keep ad revenue coming in – so it’s not really a passive income. However, there are some people who have made a lot of money just from one viral video or popular blog post. There are different ad platforms that you can use to monetize your content – this guide explains how to make money from MediaVine.
Selling online courses
Got some knowledge or a skill you feel that you could pass onto someone else? By creating your own online course, you could make some money sharing your expertise.
Like many other forms of passive income, this does involve some work upfront – you need to first build your course and then market it. However after this, it’s possible to sustain a steady stream of income without really having to do anything. This guide to online courses at VisitDollar.com explains how to make a passive income via online courses.
Selling e-books
There’s also the option of selling an e-book. This could be anything from a fiction novel to non-fiction business guide.
Writing and publishing your e-book will require investing a fair amount of time and money. A fair amount of marketing could also be useful for getting your e-book noticed. However, after this, you could find that you’re able to make an income without having to really put in any extra work. You can learn how to make money selling e-books here.
Sell stock images
If you’re a photographer or an artist, it may also be possible to earn a passive income by selling stock images. These are images that people can pay to download from stock image sites. Such images are popularly used by businesses and publications – create a few high quality attractive images and you could find that you make a fair amount of revenue from people downloading them.
It’s worth doing your research to find the stock images that are in demand. Shopify’s guide to selling stock images lists a few places where you can sell your images.
