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Top 10 Passive Income Ideas for Beginners

If you're looking for ways to increase your monthly cash flow without investing a lot of time and effort, you've come to the right place. 

In India, passive income is increasing and is being considered important. Rising inflation is the primary reason for making it nearly impossible to survive on a single salary or income source.  Making a little extra money won't hurt either, even if your salary or business income prevents you from the effects of inflation. 

We'll go over 10 of the best passive income sources we've come across. 

What is Passive Income?

First, let's understand what a passive income is. Have you ever heard the phrase "Make Money While You Sleep?" 

A Passive Income is defined as working hard for something for a specified period of time and having it pay you month after month for years to come, even if you stop working.

Active income that requires little effort to earn and maintain is referred to as passive income. Investing in mutual funds, selling products online, teaching online courses on sites like BitClass, and other methods.

Essentially, it is money earned from assets under your control. While some passive income ideas may require some initial effort, the beauty of passive income is that the time investment is minimal.

Life is meant to be lived with freedom, and that freedom can never be achieved through a JOB (Just over Broke Life).

Keep doing your job but at the same time invest your time and money to create a passive income starting today.

Top 10 Legit Ways to Make Passive Income in 2022

  1. Sell digital products

Digital products are assets or pieces of media that can't be touched. Because of their high-profit margins, digital products make excellent passive income streams. You only have to create the asset once, and you can sell it on the internet multiple times.  It can be sold repeatedly without holding any inventory or stock. Many creators increase their passive income by selling ebooks and other assets. 

  1. Teach online courses

Educators can now sell courses online more easily than ever before. Whether it's marketing, or illustration, you can create and sell courses. 

Teaching online generally requires an initial time investment. You'll need to plan your course, record it, and create downloadable assets such as templates for students to take with them.

  1. Stake cryptocurrencies

Investing in multiple cryptocurrencies can be a great way to earn anywhere from 5% to 10%. Consider it similar to earning interest on your savings, but with higher returns.

Remember that, like any investment, staking crypto carries its own set of risks.

What is the best way to get started? First and foremost, educate yourself. The more you learn about the world of cryptocurrency, the better your investment decisions will be.

  1. Sell handmade goods

With over 4.6 billion people connected to the internet, there is a massive opportunity to build and scale an online business.

There are numerous online marketplaces where you can sell your products. The initial investment is divided into two parts. To make and sell DIY items like pottery or clothing, you'll need to invest in materials and time. 

  1. Become an affiliate marketer

Affiliate marketing involves recommending a product or service to a target market. It's a great way to earn passive income because you get paid every time someone clicks on your referral link and make a purchase.

It is a developing industry. According to Statista, the affiliate marketing industry will be worth $8.2 billion by 2022.

  1. Sell Stock Photos Online

If you enjoy taking photographs, selling them online could be a great way to supplement your income. All the photos that you have can be uploaded and sold on websites that offer free and paid photos to users all over the world. 

  1. Transcription Job

Transcription is another job that allows you to work from home even if you don't have a lot of experience in the field. Transcription is the process of converting an audio file to written text.

Payment is typically made on a per-hour basis. The remuneration or charges can be agreed upon by you and the client.

  1. Become a blogger

As a passive income stream, the blogging business model is only growing in popularity. If you create high-quality content and promote it across your platforms, you will build up a massive audience to monetize.

  1. Become an influencer

If you have a large social media following on sites like Instagram.  You can persuade emerging consumer companies to pay you to post about their products or feature them in other ways in your feed.

However, you'll need to keep growing your profile by creating content that attracts the audience.

  1. Domain Name Investing

Domaining, or investing in domains, is similar to stock trading. You buy low-cost domain names with the aim of reselling them for a profit. Generally, you should target popular phrases or specific proper nouns, and keep in mind that.com domains are more expensive than almost all others.

Conclusion

Whether you’re interested in earning passive income through trading or selling handmade products, BitClass Live has a variety of courses to help you with the right knowledge and methods. Anyone can start making money online and have a continuous and growing passive income.

Enroll now on BitClass and start generating passive income from tomorrow

 

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