Who doesn‘t want to have automatically generated income while you travel the world? Many people think passive income is just a meme. I can assure you it‘s not – passive income really exist but it‘s not just passive because you will always need to invest time first to establish it and then to maintain it.
We get most of our passive income (right now about 1000$ a month) through cryptocurrencies but there are also other ways.
Have a look on the following list where you might also get some ideas for your next passive income streams.
1. P2P Lending
P2P Lending platforms like Bondora or Mintos are growing. Often people can‘t get a credit from their banks because of a bad credit score even if they will pay the money back. On P2P lending platforms, you lend your money to other people so you will be the bank. Sure there always comes a risk with it but if you only give out credits let‘s say up to 10-15$ each, you can lower much more risk. You can choose the time when you want to get back your money together with the interest. If you need your money before that period ends you can just “sell” that credit to somebody else (secondary market) so that person gets the remaining credit and you have access to your money.
Risks: Sometimes you really don‘t get the money back or only parts of it, so diversify and only give away small credits. Another risk would be if the platform runs away with your money or gets hacked. So diversify also on different platforms.
Gains: About 20% a year of interests (Bondora).
You can use our Ref-Link and get 5€ for free: https://bondora.com/ref/christians66
With an affiliate program, you can earn a commission for something you referred to somebody else if he buys that product/service. One of the biggest affiliate programs is the Amazon Affiliate program. You can earn up top 10% of a product you refer. Our Shop is for example totally based on Amazon. If somebody purchases a product from our Shop, we earn a commission from that purchase. I like this kind of income because you don‘t need any investment up front and with the marketing, you could start just without any paid campaigns in your own network.
Google wouldn‘t exist if you can‘t make money with advertisement. Good projects where you can earn with advertisement like banners would be if you have your own website or app which provide valuable information. There are a lot of ways on how you can earn with it like PPV where you get paid if someone just views the banner or the more common one, PPC, where you get paid if someone clicks on the banner. Good places to start are Clickbank or Google Adsense.
If you don‘t have the experience of building your own website or app – Fiverr is always a good place to start where you can delegate your project to somebody else and don‘t have to pay a fortune.
Example: Our Crypto News website is based on advertisement. It provides the reader with the latest crypto news and if somebody clicks on a banner the advertisement platforms will pay us.
4. Real Estate
If you are just starting out as a Digital Nomad you probably won‘t have much capital to invest in real estate. But it‘s definitely worth it if you get a good deal. We will also look into it as soon as we’ve accumulated enough money through the other passive income streams. If you make use of the global arbitrage, you could buy a small flat for example in Thailand for around 30000$, live there when you are in Thailand and rent it out the other time on platforms like Airbnb. You even don‘t have to be in Thailand for that and can hire someone who cleans and takes care of handing the keys over to the tenant. Renting out your property short term is one of the best passive income streams.