In recent years, the online world has grown increasingly saturated with money-making opportunities. Nowadays, you can pretty much make money online with just about any hobby or skill you have. Whether you’re an expert photographer, a great chef, or simply love to play video, mobile or board games, there’s an online community waiting to help you monetise your hobbies.
The Rise In Online Trading
Although trading and investing in stocks, coins, and commodities has been around for centuries, the recent rise in popularity of online stock trading and investing can be attributed to three factors.
- Increased exposure to technology and the internet
- The rise of mobile trading and investing
- Lower trading and investing costs
First, the increased exposure to technology and the internet. Back in the day, people would visit stock exchange booths, or “talks”, as they were called, to physically purchase stocks and other investing and trading opportunities. Now that most people have personal computers, smartphones, and the internet, online trading and investing has grown exponentially. Just last year, approximately $16.2 trillion was traded worldwide on public stock exchanges, according to the latest figures from Futures Industry Association (FIA). Of course, there are lots of other organizations, groups, and individuals who trade privately in the shadows, but the public scenes are there for all to see.
Second, the rise of mobile trading and investing. Thanks to improved mobile computing and internet availability, investors and traders can access all their accounts, finders’ fees, transactions, and other important information from anywhere. Mobile trading and investing just makes sense; you have everything you need in your hand. No need to go to a desk or laptop to access your accounts, which could be dangerous if your device is stolen or broken. Not to mention how much more efficient and convenient it is to do all your trading and investing from a mobile device.
Third, lowered trading and investing costs. Thanks to greater competition, lower fees, and increased security, online stock trading has become a lot more accessible to the average person. For example, if you compare the cost of trading stocks in the early 2000s to the cost of trading stocks today, you’ll see that brokers’ fees have dropped by more than half. The advent of automated trading has also made it possible for less experienced traders to become professional traders without undue risk.
The Growth Of Online Lending
Another way to easily make money online is to start an online lending business. There are several platforms, such as LendingClub, that allow individuals and organizations to loan money to others. When you sign up for an account with an online lending platform, you’ll typically be asked to set a minimum loan amount and a maximum loan amount. After that, all you have to do is search for your geographic area and then select the loan amounts that interest you.
As a lender, you’ll want to make sure that you keep your money deposited in a savings account that accepts online deposits. When you make a loan to another individual or business, the platform will typically ask you for the location of the account you want to transfer the money to. Once the funds are deposited in the designated account, your cash is then available to be used in the marketplace. Make sure you keep your eyes open for any special offers the platform might have – especially if you’re starting out, it’s a great way to save cash!
The Popularity Of Affiliate Marketing
If you’re looking for a way to make money online without having any special skills or training, then you can look into affiliate marketing. Essentially, affiliate marketing is when you join a network of companies that will pay you to promote their products. You get paid based on the sales you bring in (typically expressed in terms of dollars, euros, or Pounds Sterling) and the amount of time you spend doing the work. To learn more, check out these reputable affiliate marketing training courses.
Monetising Your Hobbies
For those of you who are looking for ways to make extra cash, you can take the time to explore options that allow you to monetize your hobbies. If you’re passionate about photography, for example, you can start a business taking pictures of people’s pets for the social media-loving public. Or if you have a love for children’s books and enjoy reading them to your kid every day, why not start a nursery rhymes business and start earning additional cash while your children grow up! The opportunities are endless when it comes to monetizing your hobbies.
The bottom line is that you can pretty much make money online with just about any hobby or skill you have. All you need is a passion for what you’re doing and the willingness to learn. With the proper training, you can even turn your hobbies into full-time incomes. So, dust off those old rusty skills you never really used and start making some extra cash!