Top 20 Passive Income Apps for Extra Money
What is Passive Income?
There are two types of income, passive and active. Active income is money that you earn from your work. Your traditional job would then be considered active income. Influencer marketing can also bring you active income.
Passive income is money that you make from assets you don’t own or control, but which you do not put any effort into. These could include sales of products, rental income, or affiliate marketing earnings. Sometimes, the term includes things that are easy, such as watching ads, playing games, or taking surveys. These types of activities are not considered “passive”, as you still spend your time doing them.
20 Best Passive Income Apps for Extra Money
It’s a great way for you to make extra money, now or in the future. This list includes a variety of passive income apps. They offer a mixture of background apps and investing opportunities.
1. Fundrise
Fundrise lets users invest in real estate projects. There is nothing more than the initial setup. You will need to invest a minimum of $1,000. Fees will be charged, but they are very low. Fundrise is no exception. Most long-term investment options are long-term. Fundrise recommends that you hold your investments for at least five years, but it also offers the option of earning quarterly dividends. These dividends can be used as income or automatically reinvest.
2. M1 Finance
M1 Finance allows you to build your own passive income portfolio, including stocks and exchange-traded funds. You can also buy fractional shares to invest in larger-name stocks without spending a lot of money. There are more than 80 investment options to choose from, as well as tons of automation tools.
3. Public
Another stock investment app is Public. It allows you to connect with other investors (similar to social media). There are themed bundles that let you invest in a group of companies that are similar (environmentally-minded companies or women-owned businesses, for example). Public, like M1 Finance, allows you to purchase fractional shares. This gives you the ability to make larger investments.
4. Robinhood
Robinhood is an easy-to-use investment app that allows anyone with little investment experience to create an investment portfolio. You can open a basic account free of charge and there are no minimum account requirements. This passive income app makes investing in stocks, ETFs, and cryptocurrency easy.
5. InboxDollars
InboxDollars is one of the passive income apps that offers cashback on activities that you are likely to do every day, such as shopping, browsing the internet, and watching TV. You get a $5 signup bonus, and if you’re willing to work hard, You can also earn money by participating in online surveys.
Originally Published on The Tech Trend
