Updated September 11, 2020
Do you want to know how to make money online? In this free tutorial, I’ll tell you my 5 best ways to make money online. I have personally tried these ideas, and they seem worth giving a shot!
Well, we all want to make money. Most of us join a full-time job to make money. Despite all hard works, some people struggle to even make a basic living, though. However, this Covid-19 pandemic has screwed up the global economy. We long took life for granted. The tide has suddenly turned. Going anywhere outside home is just not safe. 🙁
On a positive note, I think this also a time to find the best ways to make money online!
In fact, I work in China. I have a full-time job. However, I do earn passive income online every single day! Specifically, my online income is good enough to quit my full-time job, move to a Vietnam type of country, date tons of hot Asian chicks (I love them; sign up for free on China Love Cupid), have fun, and continue making money online!
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So, why I’m still in China? Quite a few reasons. First, I love being in China. It’s a great country. It feels awesome to be in China. Second, my salary is quite high. No harm in earning and saving extra cash…right? Third, so far, I didn’t pay any tax in China (due to the Double Taxation Avoidance Treaty). Fourth, some of the projects that I have been involved into, have not finished yet, and it’d be highly unprofessional to not complete them before leaving china. Of course, I have a lovely girlfriend in China.
In any case, the international borders have been virtually closed after Covid-19 pandemic. It’s quite difficult to travel overseas. Not to mention, China has emerged as the safest country to live in, especially during the pandemic. Then, I have a history of diabetes. Can’t risk life!
Let me share with you my top 5 ways to make money online. These are my 100% passive income sources while working on a nice full-time job in China.
5 Best Ways To Make Money Online
#1. Start Your Website/Blog
Having a website has become somewhat fundamental to make money online. Starting a website only takes a few minutes. My recommendation will be joining the Bluehost web hosting. You can run a website for about US $50/year.
Once you have a website, you can utilize it in multiple ways to make money online.
Although starting a website is a good beginning to make money online, you’ll have to plan carefully what value you’ll be providing to your potential customer’s life. For example, you can offer online courses. If you are a native English speaker (from US, UK, Australia, Canada, New Zealand), you can offer English courses in countries like China. There are so many Chinese private agencies hiring online English teachers. Having a professional website will help you form long lasting business collaborations.
Further, you can upload online videos on your site. Once the video lessons are uploaded, they are going to be available for forever pumping money in your bank accounts.
Most of my foreign friends in China (English teachers) have offered online English teaching lessons. Some do part time online teaching and earn RMB 300/hour. They are able to teach online from every corner of this planet earth.
In fact, during the Covid-19 period, most of the classes in China have been running online.
#2. Affiliate Marketing
We live in the internet age. You know what: you don’t really need to own a product to earn money. You can just recommend someone else’s product, and earn a handsome commission for each sale. This is the essence of affiliate-marketing programs.
Well, once you have a website, you can join affiliate-marketing programs. Here are some of the best affiliate programs in 2020:
- Bluehost Web Hosting Affiliate Program: Pays US $65/sale;
- BeRush: SEMrush’s Affiliate Program: Pays you US $40/sale, recurring income;
- Amazon Associates Program: Earn up 10 % commission for virtually anything sold within 24 hours of click on an affiliate link.
However, make sure to thoroughly understand these programs, T&C, and related products before you recommend them to your customers. For example, if you are recommending SEMrush products, you’d better try using SEMrush SEO Toolkit.
#3 Selling Ad Space On Your Website
If your website drives a good amount of traffic, some businesses may automatically contact you for offering ad spaces on your site. Depending on your mutual understandings, you may earn money per ad space per month.
Of course, a lot depends on traffic. You can drive traffic using social media. For example, I am quite active on Quora. I’d often answer a Quora question, and add a relevant URL to my site. This not only drives traffic, it also helps me get backlinks. Within a short span of time, I have over 1 million answer views on Quora.
You can also join Quora’s Partner Program, and earn money online.
Further, one of the finest ways to generate traffic is to opt for Search Engine Optimization (SEO). SEMrush SEO Toolkit is certainly a very suitable choice for SEO. I have personally used SEMrush SEO Toolkit, and would recommend it.
More traffic means higher search engine page ranks. Your site will rank higher on the search engine results page (SERP).
SEO and social media drives traffic to my site. The traffic leads to sales, and earnings.
#4. Write Books
Well, writing books is particularly suitable for the bloggers as we are already used to content writing. 🙂
I have self-published my books (Kindle and Paperback) with Amazon Kindle Direct Publishing (KDP).
If you are as well into blogging, then writing books is one of the sure fire ways to earn passive income online. You can dig into Amazon KDP. Self-publishing books has never been so convenient. Moreover, self-publishing with KDP is free (both Kindle and Paperback editions). You can earn royalties between 35 and 70%.
Make sure to publish books in different formats: eBooks, paperbacks, audio books, etc.
Further, you can create affiliate links for your books and promote affiliate links on your own website. You earn two-way commission: from book sales, and from affiliate commission.
#5. Google AdSense
When it comes to earning from ads, Google AdSense one of the simplest ways to make money online. You just need to enable AdSense ads on your site. The rest will be taken care by Google, literally! You earn commission based on Pay Per Click: you make money for every click on an ad on your site, even if there are no sales. In some ad categories (legal, insurance, mortgage), you may earn even US $200 per click.
Bonus method?
#6. Bank Interest Rates
You can park money in Asia. Quite often, Asian banks offer reasonable interest rates on saving and fixed/term deposits. For example, Singapore’s OCBC bank offers up to 1.20% per year wealth bonus interest for up to S$70,000 account balance. Here are the details of OCBC 360 Account:
In China, you can save money with Yuebao (余额宝, Yú’é bǎo). They offer very flexible interest rates on savings: generally between 1 to 4% (the rate changes every day). However, Yuebao is only available for person with a Chinese ID card (citizens and permanent residents).
You can save in India, and earn about 7% annual interest rate.
You can park your money in quite many other countries, including Sri Lanka and Vietnam. Do your research.
Point being, I park my saving income in a couple of countries (apart from China). The banks would offer me certain interest rates on fixed deposits.
Overall, earning making money online is one of the finest ways to earn passive income. Highly recommended!
What are your favorite methods to make money online? Let me know in the comments.
