Getting a stable job can be quite a challenge. There is an overabundance of it out there. However, the requirements have become a lot more challenging. Thankfully, there are also quite a number of options online where you could set up some passive income gigs. Whether it’s monitoring bitcoin price cad for profitable trading opportunities or exploring other online ventures, here are a few examples you could try out.
Earning Passive Income with Ethereum
One of the most popular methods you could use to gain a bit of passive income is to look into Ethereum. Saving Ethereum into a cryptocurrency savings account. For the past decade, there have been numerous accounts of people who have earned a living, bought property, and even traveled by just using cryptocurrencies. Being able to study and learn about cryptocurrency, and how the changes in Bitcoin or Ethereum price will move over time is a really good skill to acquire if you’d like to try investing in crypto.
If you have a computer that’s sturdy enough to withstand vast amounts of computing, you can try to mine crypto and hence make a business out of it. There are fellow traders and miners out there who would like to exchange and trade with you. That being said, you can also put up a crypto lending business. Lending to other traders in exchange for a specified fee of your choice.
Because of its popularity, most companies now transact using a variety of cryptocurrencies. Its ease of use and list of benefits make it a no-brainer when it comes to business. There are even establishments and tourist destinations that use crypto. Now, if they can do it, so can you.
Purchasing and Selling a Variety of Digital Products
These days, it’s quite assumable that you won’t be the only one going after an at-home business.
And when you do that, you will need a whole set of different kinds of digital products and tools. This all depends, of course, on what kind of business you’d like to do. These digital products and tools can become great assets in business. Having high-profit margins, you can buy these once and then resell them over and over again to other consumers. Amazingly, you won’t even need to worry about storage or inventory for these products.
A few examples of these products include PDFs, eBooks, templates, tools, etc.
Teaching Online
Now more than ever, being able to share information has become immensely faster. Hence, if you are an educator, this is one way to go. And it might be fun, too. From specific niches like entrepreneurship, marketing, business administration, and even basic learning skills like studying history, language, or mathematics, you can pre-record your lessons and post them online.
Teaching online requires a lot of time and creativity. You will need to follow an organized outline of your lessons and recording equipment. Even a webcam would do at this point.
If you’re shy about showing your face online, you don’t have to show it. If you’re also not so big on doing all the narrations, there are AI tools online such as text to speech AI free tools where you can pass your lessons and script and convert text to speech. After that, you can create downloadable copies.
It is up to you, whether you share these types of content for free or for a substantial amount. It’s always better to sell them of course. Online courses are all the buzz these days and being able to ride that wave is one of the best passive income strategies today.
Creating and Selling Stock Photos
A good idea, especially if you are adept in photography, is to take photos and sell stock photos online. Among the list here, this one is technically service-based. This means that you will get paid for the time you will be given to take all these photos.
There’s a lot of ideas you can aim for when creating stock photos. Events, photoshoots with people etc. All you need is to own a camera. Which you should have if you are an enthusiast of photography. Today, there are a lot of stock photo websites online that can help you sell the photos you’ve taken. Shutterstock or Pexels for example, are all willing to pay for high-end, high-quality pictures.
Another example is if you decide to run your photography business on Shopify, you will be able to have the opportunity to tie in with digital products such as print-on-demand types of products like t-shirts or hats. This widens the range of options for your business and increases the profits of your passive income.
If for example you have an extra room, this is a clear option to go for. Not only that, you can go a step higher and have your whole place rented out if for example, you plan on a week’s long vacation. Not only will you be able to have passive income, you’ll also have that said income while relaxing somewhere else.
Time is money, and the time we are given in a day is limited. Imagine if you had the option of doing more within that 24-hour period. Passive income ideas are a great way to take advantage of that. Being able to multiply your savings with less effort from you.