Inflation is a serious issue, and while many countries try to fight it through economic means, cryptocurrency has provided a way for people to effectively shop for goods and services without needing to worry about the cost rising due to higher prices and limited supply. One of the biggest beneficiaries of this trend has been cryptocurrencies like Bitcoin and Ethereum, which experienced an increase in value of over 1,000% from 2017 to 2018.
Since the world’s first cryptocurrency was created in 2008, a lot of different ways to make money online have sprung up, and while some of them are more risky than others, they all share one thing in common: you don’t need to have a lot of money to get started. In fact, with the right strategy, even cryptocurrency novices can make money online. Here are some of the best ways to quit your job and make money online.
Create and Sell Your Own Merchandise
The first and most direct way to make money online is to create and sell your own merchandise. Depending on your resources, you can either do this individually or in collaboration with others (sole traders or freelancers).
You can build a small brand for yourself or work with a team to create and sell branded products (think T-shirts, hoodies and patches with your company logo on them).
The advantage of this approach is that you can test different styles and try new things quickly and cheaply. The downside is that you’re completely in control of the process and bear all the risks associated with it. If you don’t like what you’re doing, you can always go back to your day job.
You might also want to consider investing in online stores that provide a one-stop-shop for merchandise, allowing you to promote and sell your products without having to worry about the shipping and handling. Shopify and Big Cartel are just a few of the many e-commerce solution providers out there.
Monetise Your Skills
If you have a skill that people are willing to pay for, you can make money online by providing a platform where people can come and use your skill (or skills).
Many platforms, such as Uber, Fiverr and UpWork, allow you to get paid for providing a service that you’re already providing for free. For example, if you’re an Uber driver, you can use your car to take people where they need to go and get paid in the form of a bonus or a gift card.
You might want to consider becoming a freelancer and providing digital marketing services to different companies. The thing is, you’ll be providing a service that people are willing to pay for, so you can immediately start making money. Just remember: this is a less secure way to make money online as you don’t have control over how much you’ll make or if you’ll make any money at all.
Sell Your Photos
If you have a decent camera and are skilled with it, you can make money online by taking and selling photos. If you’re looking for a way to make some extra cash, you can always consider selling your photos to stock image websites for a small fee. Just remember: always add value by customising your photos with stickers, text or other drawings.
To maximise your income, consider focusing on specific areas such as food, scenery or travel. For example, if you take a lot of nature shots, you can put them on stock image websites for others to use.
Start An Online Store
If you want to grow your business further, you can always start an online store. You’ll find a wide variety of products and brands that you can sell online, from clothes to groceries and house wares. All you need to do is find a niche market and build a small audience.
If you decide that this is the way to go, you can choose between Shopify or WooCommerce. The former is a bit easier to use but offers less features, while the latter is packed with features but requires a bit more technical knowledge to set up and use effectively. In either case, once you’ve built your store, you can start promoting and selling your products online using any of the methods mentioned above.
If the above methods for making money online aren’t enough for you, you can always become a freelancer and get paid for completing tasks for different companies. Depending on your expertise, you can make a decent amount of money online doing small tasks for brands such as UpWork, Fiverr and freelancing platforms like Mechanical Turk.
Create and Mine Cryptocurrencies
If you’re looking for the most lucrative way to make money online, you can create and mine cryptocurrencies. The process is simple: create and support a cryptocurrency (such as Bitcoin, Ethereum or Litecoin), wait for people to agree with your strategy, then sit back and watch the money pour in.
It’s estimated that someone somewhere is currently mining bitcoins right now. The good thing is that since the process is so labour intensive, it’s not something that can be easily outsourced to another country (as it would be with traditional payment methods).
If you decide to get into the game, you have a variety of cryptocurrencies to choose from, all with their unique advantages and disadvantages. It’s important to understand the basics of mining so you don’t run into trouble due to lack of knowledge.
Get Paid To Test Websites And Apps
If you’re a fan of gaming, you might want to consider getting paid to test websites and apps. Simply create a username and password for a fake account, verify your email address and you’re good to go. From there, you’ll be able to log in and apply for testing jobs that you’ll be able to complete.
The above-mentioned platforms like UserTesting.com and UserTesting.com allow you to get paid to test out new websites and mobile apps and give feedback on how others are using them. Simply create a fake account, verify your email and you can get to work. There are several other similar platforms out there, so it’s pretty easy to make some quick cash in this way.
As you may have guessed, the appeal of this route is that you get to test new websites and mobile apps and give feedback on how others are using them. This approach allows you to find new ways to improve, as well as give your opinion on whether or not something is working as intended. It’s a great way to make a bit of extra money online while also contributing to the community.
Start An Online Coffee Shop
If you’re looking for a low-risk way to make money online, you can start an online coffee shop. The idea here is to sell coffee and other related items (such as kratom, chocolate and tobacco) to people online. You’ll be able to use any of the above-mentioned platforms to get started, with the addition of Caferoom, which is particularly useful if you’re new to the game.
The advantage of this business model is that you don’t need to worry about whether or not you’re going to be able to make a profit. Coffee is a profitable market to be in, and since it is such a worldwide phenomenon, it’s likely that there will always be consumers who want to spend their money on a cup of coffee. Plus, you get to enjoy the coffee while it is still hot. Just make sure that you don’t get too attached to the idea, as it could quickly turn into a money pit.
Open A Coffee Shop In A High-Risk Venture
If you’re looking to make some fast cash, you can always take a high-risk venture into a coffee shop. As the name would suggest, the idea is to open up a coffee shop in a different country, either in a different state or even a different continent. Naturally, you’ll have to overcome many challenges, from legal to financial, but all you need is a big enough appetite for adventure and a reliable vehicle to make the journey.
The appeal of this approach is that you’re guaranteed to make money, as long as you’re not prohibited from doing so by law. The downside is that this is a high-risk venture, with many variables that you have to account for. For example, you’ll have to make sure that you have all the necessary permits and approvals from the government. Just remember: the more you put in, the more you’ll get back.