If you are looking for a new income source, you are not alone. Many Americans have struggled to remain employed or find alternate sources of income since the COVID-19 pandemic began. Even if you do have a secure job, you might want a side income. You might even tire of working for someone else and want to become your own boss. Whatever your reasoning is, exploring ways to make money online is a good way to start.
There are many ways to make money online. However, earning that money quickly and legitimately is not as easy as it sounds. If you want to make money from the internet, it does require an investment of time and effort on your part. Exactly how much time and effort depends on the money-making method you choose. Here are some of the top ways to earn money online.
Survey websites are extremely popular. If you have a bit of free time, they can provide lucrative income sources. Some survey websites provide immediate cash payments. Others require you to earn a certain amount before cashing out. In either case, you can often earn money online and transfer to a bank account of your choosing, but be aware of the following potential pitfalls of survey websites:
- Some survey websites offer points for taking surveys. Points do not always have exact dollar values. Sometimes they are only redeemable for gift cards with point values subject to change at the whims of the management teams of the websites.
- Websites offering paid online surveys that do allow cash redemption may only do so through specific means, such as PayPal.
- Some survey websites are scams. Never sign up for any that require fees to join. If you want to take surveys for money, check the reputations of survey websites and how long they have been in business before joining them.
Day trading is a fast way to potentially make money online. You can make money online trading by purchasing stocks and quickly selling those stocks in the same day when you see their values increase. However, stock values also often decrease, so stock trading is not for the faint of heart. Day trading also requires you to have time to sit and monitor stock values. Additional day trading tips include:
- The U.S. stock market has a minimum account balance requirement for traders. You must have at least $25,000 in your account to participate in day trading. A higher balance is recommended, since not all trades result in earnings. Some result in losses.
- Take time to learn about the stock market and the day trading process if you want to succeed at it.
- Begin with small trades and know how much money you can afford to risk per trade.
- Choose a trustworthy online trading platform by checking the reputations and reviews of multiple platforms before you start trading. TD Ameritrade and TradeStation are examples of such platforms.
Blogging is an excellent pastime. You can do it in your spare time and focus on any subject you like. For example, you might want to start a parenting tips blog or a cooking blog, if you are a stay-at-home parent. If your goal is to start blogging to earn money online, choose a subject to blog about that is popular or universally loved. For example, almost everyone has and loves pets. Therefore, pet blogs often gain popularity quickly. Once established, there are many ways to make money online blog posting. Top options include:
- Incorporate ad posting on your blog. You can do so through Google AdSense. AdSense allows you to get paid to post ads for companies that appear on a rotational basis on your blogging website. You can also sell advertising space on your website directly to companies that sell certain products.
- Promote specific products for a share of the sales revenue. Doing so is an excellent way to increase your blog profits. Try to form relationships with companies that sell products related to the subject of your blog. You can make one-time affiliate posts about certain products or become an ongoing brand ambassador for a particular product you love.
- Create a guide, class, or e-book you can sell that relates to your blog topic.
Similar to blogging, vlogging (video logging) is a process of recording videos and posting them online. YouTube is one of the most popular websites where such videos are posted. Live streaming is similar, but it allows you to speak live with your audience while recording. It is a method often used by popular online video gamers on websites like Twitch. As a vlogger or live streamer, you can earn money in a variety of ways, depending on the websites and methods you use. Those ways can include:
- Receiving direct donations from viewers.
- Selling your own branded products in your videos or live streams.
- Selling other people’s products in your videos or live streams.
- Collecting a share of money from clicked advertisements.
- Using your live streams or vlogs to promote other sources of income you have, such as your eBay store, Facebook group etc.
Consider directly selling other people’s products online as a way of making money. You can do so through e-commerce, which is the process of setting up an online store. You advertise the products. When a customer purchases one, you receive a share of the profit. You do not even have to handle your own inventory. Fulfillment centers can do that for you through the process of drop-shipping. Drop-shipping allows you to have individual orders shipped directly from fulfillment centers to customers on your behalf.
That is a small sampling of the many ways to legitimately make money online. Using your imagination, you can come up with many more. For example, you might consider becoming an online tutor in a subject familiar to you. You could also offer whatever skills you have for sale on a website like Fiverr. That skill might be writing, genealogy research, drawing or any other hobby you have that you can do online. Turn that hobby into an extra income source to continue doing what you love while making a profit.