So you want to earn some extra cash. That’s the right place to start. I’ve analyzed the whole industry of passive income and applied some of these methods myself. So you can be sure that each of them is a working method.
If you don’t know what passive income means, it’s simply something that makes you money while you sleep. In other words, this is not an active job from 9 to 5.
To create passive income, you first need to put something in, and then it will generate some income. For instance, to start earning from Medium, you first need to write several articles. But we’ll talk a little bit later about it!
I know how all of you guys are tired of hearing the same thing over and over. I tried to explain only the ones that are unique or the ones that really work. I hope you’ll love it!
Liquidity Pools
By enabling users to deposit their digital assets into a pool and trade the pool tokens on the DEX (Decentralized Exchanges), liquidity pools provide the liquidity required for them to run.
In other words, you can give some of your crypto coins to the pool and get a percentage of them over time. It’s like a deposit in a bank. However, liquidity pools are usually offering much higher rates, and they’re working on blockchain.
It can also be better because you’re investing in crypto at the same time. You’re getting some percentage in crypto, and if it grows, you’ll also get money from it. But crypto is a highly volatile sphere, and you should consider these risks before investing in some liquidity pool.
The most important DEX right now is Uniswap. It’s actually one of the first ones on the market and works on Ethereum. There are also many others, such as PanckakeSwap, Compound, and so on.
Selling Templates
If you’re good at something, there are always many ways to monetize it. For example, selling a digital product in this industry or specifically through partnerships.
I’m a UI/UX designer, and it’s a great opportunity for me to turn my designs into templates that people can use. I’m selling these templates on Gumroad, and you can sell them there as well.
On my profile, you can see several digital products, such as Figma templates for marketing agencies, a personal blog, and an online store. All of them are priced between $10–$15 which is pretty low for such products.
But you should understand that this template can be purchased a thousand times. It also will help many other people in this sphere to accomplish their tasks much quicker
You can also sell something like Notion templates. If you don’t know, Notion is a unique tool that can help everyone. It can be your personal database or a dashboard for your projects. Anyway, you can always try to create something yourself and then sell it!
You can earn an infinite amount of money from it. I’ve sold several templates in total for $200, which is not so ridiculous. You can have much more sales, straight up to $100,000 a month.
Content Creation
This is probably not as unique as it could be, but I still want to tell you about it. Content creation is booming right now, and failing to notice it is ridiculous.
There are tons of social media platforms and places where you can share some of your thoughts and monetize them. Medium is a great example; you can write about whatever you want and see how people react to it. I’m doing it myself, and I earn around $400 each month absolutely passively!
If you don’t like writing, you can always upload videos on YouTube. Or make TikToks about something cool and unique. You can also start doing podcasts. It doesn’t matter which platform you want to grow; there are a bunch of ways to monetize it.
My personal advice for you is not to start on everything at the same time. I’ve started on Medium and now want to grow on other platforms as well. You should do the same thing too!
Faceless YouTube Channel
Actually, it’s another type of content creation. However, you won’t need to show your face, and you do even need to know something to start creating. By using current technologies, you can automate the whole process of creating YouTube videos and earn money from them absolutely passively.
First of all, you need to choose a niche. Then you’ll need a script for your video. You can write it yourself or use something like Rytr or Jarvis. These are the most popular AI services for writing, and you can use them to have them write for you.
After you have a script for the video, you’ll need to add some voiceover. Again, you can do it yourself or use some service, such as Murf. It will read your script like a real person, not a robot. It's an excellent option if you don't have a good microphone or simply don't want to use your own voice.
And the final step is to have the video itself. You can go to Pexels and check for free stock videos that you can use as a background. However, there’s also a way to automate by using AI. It’s called Pictory.ai and it simply adds a collage of different videos related to your topic and makes it more professional.
You can also add subtitles and many other cool features. It is important to mention that even if you want to automate everything, you should check manually at each step. Sometimes you will need to rewrite several sentences or change the background video.
In a nutshell, creating a faceless YouTube account and consistently uploading videos is a great way to earn extra money, especially since you can automate the entire process and make it completely passive.
Lo-Fi Beats
We all know what lo-fi beats are. If not, then it’s just chill and calm music without any words. People usually listen to it to relax and concentrate better. Many developers use it too because it’s much cooler to work with music on.
This is probably one of my favorites and has almost unlimited potential. As we already know, there are thousands of services that offer automation or something AI-related.
By using some of these services, you can create your own lo-fi beats from literally nothing. I personally have used a tool called Avia which has free access and up to three downloads of your music.
You can try it and see how it works. It can produce not only lo-fi beats but also some more complex music genres. Later, you can sell it on different music marketplaces or even upload it to Spotify.
It doesn’t matter what you’ll do with these music files later; you can make some money from them anyway.
Conclusion
That’s it. These are the six more unique and interesting streams of passive income that you definitely should consider creating. I’ve dealt with all of them, and you should too. All of them are absolutely working, and you should pay closer attention to at least one of them.
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