How to make money in your sleep: Can we have money coming in while we snooze?
Ahhhh…., that dream we all have from time to time…. ” I wish I can make money in my sleep.”
Would that be awesome or what. Waking up with more wealth than you had the day before?
In this article I want to show you how to make money in your sleep. Or for that matter while you are relaxing… Hey give me a break here…. I don't know when your bedtime is!
OK, enough of my messing around. Here are a few ideas that can make you some extra cash while you are asleep or sitting by the beach.
Investing in crypto currency
Ethereum, Bitcoin, Dogecoin….
These are just some examples of crypto currency that is available for you to trade online.
They can indeed be quite lucrative if they are traded correctly. A word of warning however…. This is very volatile stuff, the money that is invested here should be “play” money.
You do not want to be betting the rent on this stuff.
What is crypto… The short version
Crypto currency is basically a public ledger of transactions, the block chain is created when computers (called mining rigs) solve complex mathematical equations and stack transactions into the chain. This is where the value comes from… It is called “proof of work.”
When a person “mines” the crypto they are rewarded with a coin, or piece of a coin.
In time crypto may over take cash as the main currency for just about everything, albeit may be a few years away. I do believe however that this will happen at one point in the somewhat near future at a certain level.
If timed correctly you can make big money, even in your sleep. Crypto trades 24 hours a day 7 days a week non-stop.
How to get started trading crypto
To buy and sell crypto all you need is an account such as Robin hood or even PayPal. Once you are set up you can link your bank account and make your first deposit. Then it's buy time!
Again, this is a very quick rundown of crypto currency. There is much more that I will eventually cover on luminous outlook. For now, I would suggest opening up an account and putting a small amount of money in to get the feel of how crypto works, and to get a feel of how volatile this trading can be.
You can however pick up patterns after a while. Remember to ease into this and read much more before putting any large amount of money in! You have been warned.
Open up an investment account
One cool thing about the internet is it has made investing so much more accessible to the everyday person. There are really a ton of ways you can use the internet to make money.
This article is based on a few ideas to make money while you sleep, however there are many ways to get your foot in the door.
One great way for the beginner to start investing is through a virtual investor.
Here's how mine works.
How the robot investor works
The platform I use for this is E-Trade, I simply opened up an account and deposited $500 bucks, after answering some questions about risk and timeline for when you need the returns you can have a robot investor !
Make no mistake, I don't agree with a robot doing ALL of your investing, however the robot investor is working in the background while you are not even thinking about the money.
This is the beauty of small investments making slow returns in the background. You should have bigger things set up in time but why not make a few bucks literally while you sleep?
The way E Trade does this is the robot investor makes the moves and purchases based on how you answered the initial questions for you.
E trade then takes a very small portion of the earnings per month… I'm talking pennies when the account makes money, you make money and so does E Trade, this is there motivation to set you up right comes for them, everyone involved wins when You are up! Let's move on to the last venture that can make you some cash while you snooze.
Start a vending machine business
That's right folks… The very first business I started was a vending machine business. Originally the idea came to me when my son was born, I thought.”what can I build for him.”
What started out as a little gift for my son turned out to make a pretty good amount of money. You wanna know the best part? ….. The money that business made was on auto pilot after setting things up.
Seriously, how cool is that?
Over time that business has evolved into different ventures that have made my son money while he slept. The vending business was the start however.
I will be explaining the entire process of starting a vending machine business in a future article, however I just wanted to touch on the basics here quickly.
When I started out it was as simple as buying a couple candy vending machines, (I always had luck with the triple bank models.)
Once I had a few machines I made a sheet explaining my business and goals, very simple and to the point.
I would find locations and leave the sheet that explains my company and what I had to offer. I would talk to owners and managers placing my machines along the way. It really felt good when I set up my business to support a charity for children's cancer treatment.
Believe it or not…. I started placing machines in quite a few locations.
It really is a great way to make some extra cash and meet new people, all while teaching your kids responsibility and accountability.
Every two weeks we would go to our locations, clean the machines, and fill them back up with some good candy!
Over time We would find 20-30-40 bucks and up in just one machine! If this isn't making money in your sleep I don't know what is!
These are just a few examples of how to make money in your sleep
If you want to make some extra cash I encourage you to try one of these ideas out. There really is a lot of money to be made out there if you can think outside the box.
Do you have some side hustle ideas? Comment below and let us know your hustle!