Passive income: it’s the dream, right?
Why wouldn’t you want to make money while you sleep?
But it’s also one of the most misunderstood ways of making money. And if you invest in the wrong things, you could end up losing a lot of money.
We’ve got your back, however. We’re here to present the top 5 passive income ideas that you can trust!
NFTs (Non-Fungible Tokens) are perhaps the most popular token on the market right now, NFTs are unique digital assets that are owned by a single user. The property attached to them can vary in value.
This means they’re great for collecting, trading with others, and a great way to create a passive income.
People have been buying, selling, and trading these unique tokens on sites like superrare.com for years now. The NFT market will continue to grow as more value is created within these individual pieces of digital property.
Blockchain is the technology that powers Bitcoin. What makes blockchain so special? It’s a decentralized ledger system, meaning no central entity has control over it.
This is what makes it tamper-proof and hacker-resistant. So far, most applications of blockchain have been for cryptocurrencies. But its potential application goes much further than just currency.
Blockchain is projected to be worth $7.74 billion by 2021.
3) Online Courses
Online learning is taking over the world. More and more people are starting to use online courses for skill development and earning passive income on the side.
By 2020, this industry is expected to be worth $107 billion. You can start your own online course business or promote other people’s products in exchange for a percentage of their sales.
Although you’ll spend a lot of time promoting your course, it’s the most passive income out of any of our recommendations.
Dropshipping is one of the easiest ways to start an e-commerce store with little to no capital. “What’s dropshipping?”, you might ask. Basically, you’re selling products without actually owning them.
You can either be the middleman between the consumer and wholesaler or manufacturer, which means you make a commission when someone buys your product.
Once you grow in terms of popularity, this passive income stream becomes easier to maintain because your store’s growth will mean more customers for your supplier.
By 2022, industry experts project that this industry will be worth $100 billion.
According to a 2016 survey, around 63 million people worldwide have been using the home-sharing service Airbnb. That means there’s a huge market of “hosts” trying to make some extra cash by renting out their homes.
In fact, the average host makes over $7100 per year from their rental! If you don’t mind hosting strangers in your home, this is a great opportunity to make some passive income.
Want to Learn About More Passive Income Ideas?
The future of passive income is bright! As an entrepreneur, it’s important to keep up with the latest trends in order to stay ahead. That’s why we hope these best passive income ideas have given you some ideas on how to create passive income.
If you’d like to learn more about how to make passive income, please check out our blog. We have many articles with top tips to build a passive income to help you get started.