Across the globe, the rate of mobile penetration is increasing at a phenomenal rate, even in developing nations worldwide.
In developed countries such as the UK, mobile penetration rates are starting to peak, and by 2024 it’s estimated that this number will soar as high as 88.1%. Interestingly, iOS devices remain the most popular within the mobile realm, accounting for 49.04% of the marketplace during the first eight months of 2017.
This makes it possible for more people to make money through their smartphone, with the following methods offering accessible options to users:
Use an App to Sell Goods
One thing that we all have access to is material possessions, and the fact remains that many of us have far more than we need at any given point in time.
With this in mind, taking stock of your possessions and selling those that you wish to discard offers a viable and convenient way of making money on your phone, with a number of mobile apps having been designed for this purpose.
We’d recommend using popular apps that offer access to a huge market of consumers, including eBay, Etsy and Facebook marketplace. The key is to set reasonable pricing and take clear images of your goods, as these factors combine to create an attractive proposition in the minds of potential buyers.
If you’re really serious about selling goods online and want to branch into a product-oriented business venture, you could also consider starting an Amazon FBA business that allows you to generate more revenue without taking on a huge stock holding.
Consider Forex Trading
If you want to develop a passive stream of income and retain some knowledge of the financial markets, you could also consider activities such as forex trading.
After all, this enables you to trade assets like currency as derivatives, while the margin-based forex market also offers inflated leverage which means that you can open large positions with a relatively small cash deposit.
As a result of this, you can generate a disproportionate profit without assuming ownership of the underlying financial instrument, creating the ideal scenario for traders with a short-term outlook.
Just remember to build your knowledge base before starting out, while looking to gain practical experience of the market by utilising an online demo account.
Complete Online Surveys
Online surveys have become increasingly popular of late, particularly as consumers become increasingly influential and entrepreneurs strive to create a more immersive and inclusive business model.
Online surveys have also become more popular since the coronavirus pandemic, with the Office for National Statistics (ONS) having offered Amazon vouchers to people who are willing to commit to monthly Covid-19 tests and answer questions on a regular basis.
Organisations can use surveys to achieve a range of objectives, from gaining product feedback to generating information about behaviour, intent and brand perception.
As a result, it’s possible to be remunerated in a number of different ways, from vouchers and free products to cold, hard cash!