Author: Nick Wharton / Source: Wise Bread
The rise of the internet has been a complete game changer in regards to the new money making opportunities it has opened up. Millennials, in particular, are making money in ways that weren’t possible just five or 10 years ago. Entire professions have sprung up that allow savvy entrepreneurs to cash in while actually working less than if they had a regular full-time job.
There are plenty of articles out there claiming to show you how easy it is to make millions with very little work. I want to stress that generally this simply isn’t the case, and there are no legitimate “get rich quick schemes” on the internet. All of these jobs, even the ones that will eventually provide you with passive income, take a lot of work and dedication to get right, especially at the start.
However, with a bit of know-how and a lot of dedication, it’s possible to break free from a life chained to your cubicle working 60 hours a week. Millennials have been at the forefront of the latest developments on the internet, and are continually inventing new ways to earn a living through it. Here are six ways millennials are working less and earning more.
1. Cryptocurrency
Cryptocurrency has been constantly in the news recently, with analysts and skeptics regularly predicting that it’s on the verge of suffering a huge crash. Despite all the doom and gloom surrounding it, and some recent volatility, there are still plenty of people making money from it. There are also many different ways that people can use cryptocurrency to make money, meaning it’s a versatile income stream. Essentially, cryptocurrency is a digital asset that uses cryptography as a security measure.
Bitcoin is one form of cryptocurrency that has been in the spotlight quite a bit. (See also: Is Bitcoin Still a Thing?)Simon Yu, CEO of blockchain startup StormX told Forbes, “Millennials are particularly open to embracing new technology in order to create opportunities for themselves — and blockchain, the tech behind crypto, is no different. As masters of the side hustle and challengers of the traditional 9–5 working lives of previous generations, millennials are welcoming blockchain with open arms.”
Trading is probably the most well-known method of making money from cryptocurrency, but by no means the only one. Those with an in-depth knowledge of computers can actually mine cryptocurrency, although profits from this are far lower than they were previously. Buying and holding your chosen cryptocurrency is also a popular way to make profits. Rising values have sparked hundreds of stories about how early investors got rich by cashing out their holdings once their value had soared.
2. Online trading
Where trading stocks used to be relatively complicated to get into, the internet has opened it up to virtually anyone. Trading in the stock market can be a great way to make money online, and you need little more than a laptop or smartphone and an internet connection to get going. By being supremely tech-savvy and learning to trade via apps, millennials are getting more and more involved in the stock trading scene. (See also: The 5 Millennial Money…
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