Whether you are a college student trying to get out of debt or an adult trying to keep up with the rising cost of living, passive income can be a lifesaver. However, it is not for the faint of heart. You have to take the time and effort to find and do the right things in order to make it work. Source : goxapp.com/passive-income
How can I become a millionaire in 5 years?
One of the best passive income strategies is affiliate marketing. Affiliate marketing is a form of advertising where a third party pays you a commission for referring someone to purchase a product or service.
You can also earn passive income by monetizing your social media accounts. You can do this by buying or posting ads on social media sites. The more you post, the more money you will earn.
Another strategy to achieve passive income is investing in cryptocurrencies. This type of investment requires you to invest an upfront amount of capital. Afterwards, you can earn dividends and receive quarterly payouts. Fortunately, you don’t have to pay any taxes on the gains.
You can also make passive income by renting out a spare room. This business model is similar to property rental, but with less capital investment.
You can also create an app. Some apps are free and include advertisements. Others offer tiered models without ads. The app may be something you can use yourself, or it could be a gimmick. The most important thing is to decide how you’ll generate profit.