Being able to live off of passive income is the goal of many and has become much more achievable with the rise of the internet. There are a wide variety of different forms of passive income online nowadays. Learn about passive income and some of the top forms of passive income online in this article.
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What is Passive Income?
Contrary to popular belief, passive income does not mean money without doing any work. Rather, passive income can be defined as income that is not tied to the amount of time you work. Passive income typically requires a large upfront investment of time or money and will continue to pay out an amount that is not tied to the amount of time you continue to work on the source of income.
For example, active income like getting a job washing cars at $10 an hour would pay you $150 if you worked 15 hours.
Conversely, passive income like mining crypto for $150 dollars worth of crypto would amount to $150 regardless of how long it took you to set up your mining rig or how often you do maintenance on your mining device.
Mining crypto is a popular form of earning passive income online. You can earn passive crypto by mining crypto. Basically you receive rewards, crypto, for using your computing power to help maintain the blockchain of a cryptocurrency. Crypto mining isn’t free money though. Mining crypto earns passive crypto income but will increase your electricity bill and may require upgrading or repairing your computer.
Cloud mining is a good way to mine crypto without using your own computer. Cloud mining is where you rent computing power from large companies that will mine crypto for you.
Passive Income Online with Rollercoin
Rollercoin is a digital mining simulator game where you can earn passive crypto income by playing games and investing in miners. Playing Rollercoin is one of the top forms of passive income online because the miners bought last forever and can currently mine 7 different cryptocurrencies. You can earn crypto passive income with Rollercoin in Bitcoin, Ethereum, Dogecoin, Solana, Binance Coin, Polygon, and Rollertoken.
Passive Income Online with Blogging
Blogging is one of the most increasingly popular forms of passive income online. Running a blog can be a fun way to earn passive income by writing about the video games that you like. You can earn passive income from blogging about the things you enjoy and make money for it.
While researching and writing blog articles is hardly passive, your articles can continue to generate revenue long after being written. Blogs can be monetized through ad revenue, affiliate marketing, sponsorships, and more.
Publish0x and Medium are good platforms to get started with blogging for free. Publish0x is a unique platform with users being able to tip crypto for free every thirty minutes, with the reader and the writer earning passive income.
Crypto staking is another form of passive income online with cryptocurrency. Staking crypto is similar to mining crypto in that you earn free cryptocurrency. Crypto staking is one of the top forms of crypto passive income. You receive staking rewards for locking your crypto up or just by holding your crypto in your wallet. Staking rewards are typically based on a percentage of the amount of crypto you hold, allowing you to earn more crypto passive income the more crypto you stake!
Passive Income Online with Honeygain
Honeygain is an easy to use form of passive income online. Using Honeygain pays passive income for your unused bandwidth. All you have to do is download and run the Honeygain app and you will start earning passive income. Honeygain can be installed on multiple devices to multiply your passive income earnings. While not an incredibly lucrative form of passive income online, Honeygain is useful for generating some extra money through passive income.
You can also earn bonus income just by logging into Honeygain once a day! There is a daily reward system called the ‘Lucky Jar’ that awards up to 10 bonus dollars a day. That’s a potential extra 300 dollars a month and 3600 dollars a year!
There is a minimum withdrawal of 20 dollars on Honeygain, although you can get 5 dollars for free just by signing up for Honeygain with the link below.
You can earn passive income with stock photography just by taking pictures that people and companies want to use. Stock photos you upload can continue to make passive income years after being uploaded, allowing you to cultivate a collection of digital assets that produce passive income.
There are two main types of stock photography: exclusive and non-exclusive.
Exclusive stock photography refers to individuals or companies buying the exclusive right to use your photo. Exclusive rights to stock photography often sell for much more than non-exclusive.
Selling the non-exclusive rights to your stock photography allows you to sell your photo an unlimited amount of times. Non-exclusive stock photography is more common than exclusive stock photography.
Amazon Kindle Direct Program (KDP)
The Amazon Kindle Direct Program lets you publish and sell books for free on Amazon. Books published through Amazon KDP can be traditional fiction and non-fiction books that you wrote. You can also publish low-content books like notebooks or journals on Amazon KDP as well. You can publish your book on Amazon KDP as an e-book, a paperback book, or a hardcover book. Try publishing your book in all 3 formats to maximize your chance for earning passive income with the Amazon Kindle Direct Program.
Published books can potentially earn forever, allowing you to increase your passive income with each book you publish.
Dividends are one of the most traditional forms of passive income online. Dividend stocks pay out a certain amount of money, or a dividend, on a scheduled basis. Dividends are typically paid on a quarterly or annual basis. While requiring a larger initial investment than other forms of passive income online in this article, dividend stocks have proven to be a reliable source of passive income.
Affiliate marketing is a very popular and very profitable form of passive income online. Affiliate marketing is where you attract potential customers to a product or service and you get a percentage of the sales.
Blogs and social media are popular ways to earn passive income with affiliate marketing. If you have an audience you can share affiliate links with, you can earn passive income with affiliate marketing. You can do affiliate marketing for almost any product or service.
While cultivating an audience and affiliate marketing is anything but passive in the beginning, traffic to your affiliate links can continue to pay out long after being shared. Dedication and consistency are the keys to making money online at home with affiliate marketing.
Staking and Liquidity Pools – Yieldly
Yieldly is a decentralized finance platform run on the Algorand blockchain where you can earn passive crypto income. You can stake crypto, participate in distribution pools, and provide liquidity to earn passive crypto on Yieldly. Yieldly can be a low-cost and easily accessible form of passive income online.
Passive Income Online with Music Royalties
You can make passive income online by creating your own music or buying the rights to existing music. Get paid every time your song is played on services like Spotify and YouTube. Investing in music royalties can range drastically in price depending on if you write your own song or if you choose to buy the rights to an existing song. Imagine how cool it would be to listen to a song and know that you own it!
Opulous is a new platform for buying music royalties directly on the Algorand blockchain. While there are not many music royalties for sale yet, the selection on Opulous is rapidly growing. Famous musicians like Lil Pump and Tyga have already sold music royalties on Opulous. These royalties are stored as a MFTs, or music fungible tokens, directly in your Algorand wallet.
Tokenized Real Estate – Lofty.ai
While real estate is a classic form of passive income, tokenized real estate is an entirely new form of passive income online. Tokenized real estate is similar to REIT, or real estate investment trusts, in that you buy a portion of real estate and receive rental income based on the amount of shares in the property you own.
Lofty.ai is a platform run on Algorand where you can buy tokenized real estate. You can buy shares in real estate on Lofty.ai as tokens stored in your wallet on the Algorand blockchain. Rental payments are paid out daily through the Algorand blockchain based on how many tokens, or shares, you have of a property.
Tokenized real estate on Lofty.ai starts at $50 a token. You can buy tokenized real estate on Lofty.ai with Algorand, USDC, and Ethereum.
Which Forms of Passive Income Online to Start With?
The beauty of passive income is that there is no limit to how many sources of passive income you can have. Maintaining multiple forms of passive income online decreases your dependency on any one form of passive income online and increases the overall amount of passive income you can earn. I recommend trying out multiple forms of passive income online and seeing which works the best for you. Many of the forms of passive income online listed in this article have little to no startup cost, allowing you to try your hand with passive income while only having to invest your time.