Even if you have income that’s not attached to a bill or living expenses, investing may seem a little daunting to some. That said, I recommend doing some research or talking to a professional about the possibilities. There could be some lucrative investment opportunities online worth looking into. For starters, here are a few easy online investments even novices can do.
Easy Online Investments #1: Savings Accounts
Savings accounts may not offer large returns, but they are a risk-free way of starting a wealth portfolio. Most people opt for brick-and-mortar banks when setting up a savings account, however, online banks often offer higher interest rates. You can compare online savings accounts at sites such as https://www.money.co.uk/savings-accounts/internet-savings-accounts.htm. Keep in mind, there are different types of savings accounts deals entering the market frequently. I recommend looking around for the best deal that suits your financial situation.
Easy Online Investments #2: Cryptocurrencies
Cryptocurrencies are digital currencies. At the moment, one of the most popular and known types is Bitcoin, but there are hundreds of others to choose from. The value of these currencies is always changing, so there is some risk involved.
When you purchase a cryptocurrency that is rising in value, you can choose to sell it for a profit. Cryptocurrencies tend to be more volatile than regular currencies, making them prone to high returns but also losses. To maximize returns, try trading different currencies using a blockchain. Sites like https://www.intellectsoft.net/blog/top-blockchain-development-companies/ can help you set up your own system. There are sources online to help you understand how to benefit from cryptocurrencies.
Easy Online Investments #3: Domain Names
Buying and selling domain names is another way to easily make some cash online. This involves buying a domain name cheap and selling it for a profit. You can buy domain names at sites like https://www.easyspace.com/domain-names. Some domain names end up being valuable and sought after by large companies. Though the big ones might not happen all the time, you can profit from low-cost domain names as well. Fortunately, it’s possible to strategically predict domain names people may want in the future by doing market research.
Easy Online Investments #4: Peer-to-Peer Lending
Peer-to-peer lending involves loaning money to another user online. They pay back the money with interest in a specified timeframe. Peer-to-peer lending can be a fairly secure way to make a return, providing that you use a trustworthy peer-to-peer lending site. You can often make a much larger return than putting your money in regular savings. Many peer-to-peer lending sites charge interest rates of 7%. The more you lend, the more you will make. This site https://www.thebalance.com/best-peer-to-peer-lending-companies-4580285 offers a guide to some of the best peer-to-peer lending sites out there.
Easy Online Investments #5: Web-Based Stocks
It’s also possible to make money by buying stocks and shares in digital companies. The likes of Google, Facebook, Amazon, and eBay have all grown considerably in value over the last decade, resulting in huge profits for stockholders. The next big digital thing is thought to be cloud computing – buying stocks or shares in the right cloud provider could result in huge returns.