You’ve probably heard of the expression “make money whilst you are sleeping” which is one of the most used statements when speaking referring to passive income.
Passive income consists of money and losses produced from an enterprise in which a person is not heavily or actively involved. Whereas active income is the complete opposite, active income is the money you work for, this means it takes up your time. In contrast to passive income which does not take time away from the daily tasks your career/job demands thus needing minimal effort.
Here are some examples of passive income streams
1- Start a dropshipping store
2- Running a blog
3- Creating an online course
4- Creating an app
Dropshipping is one of the most popular forms of passive income, it is proven to be the most profitable also. If you have heard of Shopify and AliExpress, then you are already familiar with the world of dropshipping. The fun aspect and magical side of dropshipping are that you build your own business from the ground up and you are the one who decides how much you would like to charge per item/product you sell. This means that how much you make is solely dependent on you.
For those who are creative and love writing, blogging may be the most effortless type of passive income there is for a person. The world is your oyster when it comes to blogging because it is completely up to you what you write about. You have no limitations to what you can say, think of it like a painter with a blank canvas. If you like to travel then you can write about the places you visit and certain travelling companies may sponsor your blog. If you are a person who loves sports like; football, basketball, or even tennis you never know if you could be lucky enough to be invited to watch Wimbledon.
Creating an online course
Covid-19 came and took over a large portion of our lives, but one thing it did teach us is that learning through Microsoft teams and Zoom was possible, some even completed the rest of their university education online and ended up having graduation online. It is strange how a life-threatening virus taught us so many things and allowed us to work from home, which is a new adaptation that a lot of companies are thriving on now.
Creating an app
If you were born in the 2000s then you were alive for the rise and total domination of the addictive game Flappy Bird which was released in the summer of 2013. It became so popular among millions of people around the world, that the creator felt guilty about how addictive it had become.
This brings us to the wonderful cryptocurrency which is still in its presale phase called the Parody coin, PARO is part of several meme coins. A meme coin is a cryptocurrency that is related to a joke or theme rather than a serious product. Dogecoin was the first-ever meme coin to be launched, it gained massive popularity because it was named after a dog that was all over the internet, the Japanese Shiba Inu dog.
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