Yield farming is a method to generate more crypto with your crypto holdings. The process involves you lending your digital assets to others by means of the power of computer programs known as smart contracts.

Cryptocurrency holders have the option of leaving their assets idle in a wallet or binding them into a smart contract to assist with liquidity. Yield farming allows you to benefit and gain rewards from your cryptocurrency without spending any more of it. Sounds quite easy, right?

Well, hold on because it isn't that straightforward and we are just getting started. 

Yield farmers employ highly advanced tactics in order to improve returns.

They constantly move their cryptocurrencies among a variety of lending markets in order to optimize their returns. After a quick Google search, you would wonder why there isn't more content surrounding strategies and why these yield farmers are so tight-lipped about the greatest yield farming procedures.

Well, the answer is quite simple: the more people are informed about a strategy, the less effective it becomes. Yield farming is the lawless territory of Decentralized Finance (DeFi), where farmers compete for the opportunity to grow the highest-yield crops. 

As of November 2021, there is $269 billion in crypto assets locked in DeFi, gaining an impressive almost 27% in value compared to the previous month of October.

The DeFi yield farming rise shows that the excitement in the crypto market has extended far beyond community- and culture-based meme tokens and planted itself in the centre of the hype. What exactly does it take to be a yield farmer?

What kinds of yields can you anticipate? Where do you start If you're considering becoming a yield farmer?  Here, we'll guide you through everything you need to know.

What is Yield Farming? 

Also referred to as liquidity farming, yield farming is a method for generating profits using your cryptocurrency holdings instead of leaving them idle in an account on a crypto website. In a nutshell, it involves bidding cryptocurrency assets into platforms that offer lending and borrowing services and earning a reward for it.

Yield farming is similar to bank loans or bonds in that you must pay back the money with interest when the loan is due. Yield farming works the same way, but this time, the banks are replaced in this scenario by crypto holders like yourself in a decentralized environment. Yield farming is a form of cryptocurrency investment in which "idle cryptocurrencies" that would have otherwise been held on an exchange or hot wallet are utilized to provide liquidity in DeFi protocols in exchange for a return. 

Yield farming is not possible without liquidity pools or liquidity farming. But, what is a liquidity pool? It's basically a smart contract that contains funds. Liquidity pools are working with users called liquidity providers (LP) that add funds to liquidity pools. Find more information about liquidity pools, liquidity providers, and the automated market maker model below.

How Does Yield Farming Work?

Liquidity pools (smart contracts filled with cash) are used by yield farming platforms to offer trustless methods for crypto investors to make passive revenue by loaning out their funds or crypto using smart contracts.

Similar to how people create bonds to pay off a house and then pay the bank interest for the loan, users can tap into a decentralized loan pool to pay for the bonds.

Yield farming is a type of investment that involves the use of a liquidity provider and a liquidity pool in order to run a DeFi market. 

• A liquidity provider is a person or company who puts money into a smart contract.
• The liquidity pool is a smart contract filled with cash. 

Liquidity providers (LPs), also known as market makers, are in charge of staking funds in liquidity pools enabling sellers and purchasers to transact conveniently by executing a buyer-seller agreement utilizing smart contracts. LPs earn a reward for providing liquidity to the pool. Yield farming is based on liquidity providers and liquidity pools, which are the foundations of yield farming. These work by staking or lending crypto assets on DeFi protocols to earn incentives, interest or additional cryptocurrency. It's similar to how venture capital firms invest in high-yield equities, which is the practice of investing in equities that offer better long term results. 

Yield farmers will frequently shuffle their money between diverse protocols in search of high yields. For this reason, DeFi platforms may also use other economic incentives to entice more capital onto their platform as higher liquidity tends to attract more liquidity. The method of distribution of the rewards will be determined by the specific implementation of the protocol. By yield farming law, the liquidity providers get compensated for the amount of liquidity they contribute to the pool.

How Are Yield Farming Returns Calculated?

Estimated yield returns are calculated on an annualized model. This estimates the returns that you could expect throughout a year. The primary difference between them is that annual percentage rates (APR) don't consider compound interest, while annual percentage yield (APY) does. Compounding is the process of reinvesting current profits to achieve greater results (i.e. returns).  Most calculation models are simply estimates. It is difficult to accurately calculate returns on yield farming because it is a dynamic market and the rewards can fluctuate rapidly leading to a drop in profitability. The market is quite volatile and risky for both borrowers and lenders.

Before Getting Started, Understand The Risks Of Yield Farming

Despite the obvious potential benefits, yield farming has its challenges. Yield farming isn't easy. The most successful yield farming techniques are quite complex, recommended only to advanced users or experts who have done their research.

Here are the different risks: 

Smart contract

Smart contracts are computerized agreements that automatically implement the terms of the agreement between parties and predefined rules. Smart contracts remove intermediaries, are less expensive to operate and are a safer way to conduct transactions. However, they are vulnerable to attack vectors and bugs in the code.

Liquidation risks 

DeFi platforms, like traditional finance platforms, use customer deposits to create liquidity in their markets. However, if the collateral's value falls below the loan's price, you would be liquidated. Collateral is subject to volatility, and debt positions are vulnerable to under-collateralization in market fluctuations.

If you borrow XX collateralized by YY a rise in the value of XX would force the loan to be liquidated since the collateral YY value would be inferior to the value of the XX loan.

DeFi Rug Pulls

In most cases, rug pulls are obvious exit scams that are intended to entice investors with a well-manufactured promising project in order to attract investors. 

A crypto rug pull happens when developers create a token paired with a valuable cryptocurrency. When funds flow into the project and the price rises, developers then seize as much liquidity they can get their hands on resulting in losses for the investors left in. 

Impermanent loss

Impermanent loss happens when a liquidity provider deposits their crypto into a liquidity pool and the price changes within a few days. The amount of money lost as a result of that change is what is called an impermanent loss. This situation is counter-intuitive yet crucial for liquidity providers to comprehend.

Exercise Caution When Getting Into Yield Farming

If you have no prior knowledge of the cryptocurrency world, entering into the yield farming production may be a hazardous endeavour. You might lose everything you've put into the project. Yield farming is a fast-paced and volatile industry. If you want to venture into yield farming, make sure you don't put more money in than you can afford, there's a reason why the United Kingdom has recently implemented serious crypto regulations.

What The Future Holds For Yield Farming

We hope that after reading this article you will have a much deeper understanding of yield farming and that it answered some of your burning questions.

In summary, yield farming uses investors' funds to create liquidity in the market in exchange for returns. It has significant potential for growth, but it's not without its faults.

What else might the decentralized financial revolution have in store for us? It's difficult to anticipate what future applications may emerge based on these present components. However, trustless liquidity protocols and other DeFi technologies are driving finance, cryptoeconomics, and computer science forward.

Certainly, DeFi money markets have the ability to contribute to the development of a more open and inclusive financial system that is accessible to everyone with an Internet connection. 

As the Internet of Things becomes an increasingly popular topic of conversation, we are here to lay the foundations of what the concept of IoT really is. As people become familiar with blockchain and cryptocurrencies, it is only a matter of time before the IoT becomes deeply ingrained in our day to day living.  

What is the internet of things?

The Internet of Things refers to millions of physical devices that connect to the internet and collect and share data. These systems of interrelated computing devices can be as small as a pill or as large as an aeroplane and are able to communicate real-time data. This marks a prominent milestone in the evolution of the Computer Age.

This shift is possible due to a number of factors that have come into play in the last few decades, such as the decreased cost of connecting to the internet and broadband internet becoming more accessible. There is also the added advantage of more devices being built with sensors and WiFi capabilities and how these devices have reduced in cost becoming more accessible to everybody. These factors contributed to making the perfect storm for IoT to ignite. 

While the term was coined in 1999 by Kevin Ashton, the IoT era is believed to have only truly begun in 2008 when the world officially had more devices connected to the internet than people. 

An example of IoT devices

An IoT device is any natural or man-made object that can be assigned an Internet Protocol (IP) address and transfer data over a network. It can range from smart speakers like Amazon's Alexa and Google Next to a lightbulb, security camera or thermostat that are controlled by apps, from heart rate monitors to sprinklers, and everything in between. 

How does IoT work?

IoT technology is made up of physical devices that consist of networks of sensors, processors and communication hardware. These internetworking components are able to collect, send and act on the data they receive. 

The data is then analysed in the cloud through an IoT gateway or other edge device, or communicated to other related devices from where action can be executed. These processes are all automated, however, human invention can occur when setting them up, accessing data or giving the devices instructions. This technology essentially enables the remote monitoring, programming and control of specific data with minimal human intervention. 

Artificial intelligence (AI) and machine learning can also be implemented to assist in making data collecting processes easier and more dynamic.

In a practical example, an IoT device such as a thermometer will collect the data (temperature), this will then be collated and transferred through an IoT gateway or IoT hub from where the back-end system or user interface (e.g. app on a smartphone) will analyse the data and take action. 

IoT in domestic settings

Already seeing a huge advancement in home and office devices, the IoT movement on a domestic level is big and getting bigger. Home automation is fast becoming a very lucrative endeavour, with the market valued at $44.68 billion in 2020 alone. This ranges from lights to air conditioners to security systems, anything in the home that can be controlled by an app, including smart hubs connecting these devices, like TVs and refrigerators. 

IoT devices have also proven their worth among elders and people with disabilities, as they are able to provide assistive technology for sight, hearing or mobility limitations. 

IoT in industrial settings

While the smart home industry is booming, the industrial use cases are not far behind. IoT in business allows companies to automate processes and can help to monitor the performance of systems and machines in real-time, from supply chain management to logistic operations.

The market has already seen devices used to track environmental conditions (humidity, air pressure, temperature), prevalent in the designs of smart cities. They also prove their worth in the agricultural sector where farmers can use these devices to monitor the water levels of livestock or automatically order new products when the supply is about to run out. 

The future of IoT

Already over a decade into the movement, IoT is only going to get bigger. With a range of use cases that span almost every sector, it's no surprise that the projected value for the industry in 2028 is over $97 billion. Forecasts also predict that industrial and automotive equipment will present the largest opportunity for growth in the future, while smart home and wearable devices will dominate in the coming years. 

However, if the implementation of these devices is not done well this could present a new challenge to the industry. For example, if you have several smart home devices running in your home and need to log into several different apps to use them, this will hinder the growth of that sector. 

In conclusion: The IoT is the future of things

Any device falls into the category of IoT as long as it collects and shares data enabling smarter working with more control. If implemented correctly, IoT devices may well be a permanent fixture in our lives in the next decade, with analysts predicting that adoption and spending will grow exponentially in the next few years. 

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With the recent rise in meme tokens and dog-themed coins, any coins with a Shiba Inu (a Japanese breed of dog) mascot seem to attract all the right kinds of attention. With the real Shiba Inu (SHIB) token winning "investment vehicle" of the year in 2021 after posting unbelievable gains, many are still wondering whether Shiba Inu is still a good token?

Where Did It All Begin?

A golden rule of getting in crypto is to understand exactly what you're buying in before taking the plunge. Before we explore Shiba Inu's history, we must start at the beginning with Dogecoin. Dogecoin was the original meme token and entered the crypto scene in 2013. The coin was designed to provide a "light-hearted" alternative to Bitcoin, poking fun at the seriousness of the crypto community at the time with its Shiba Inu logo. 

As it turned out, Dogecoin built a strong and loyal following that has stuck by the coin ever since. It wasn't until 2020 when Tesla CEO Elon Musk became vocal on Twitter about the cryptocurrency that DOGE truly went viral. 

What is Shiba Inu Coin?

Musk's interest in Dogecoin aligned nicely with the launch of Shiba Inu, which officially went live in August 2020. It wasn't long before SHIB climbed the ranks and became the biggest meme token on the market based on market capitalization, albeit for a brief moment. While it was dubbed in comparison as the "Doge Killer", Dogecoin still held the most value. It's worth noting that each time Musk mentioned Dogecoin in writing, Shiba Inu enjoyed some of that success and popularity as displayed by its growth.

Shiba Inu is an ERC-20 token built on the Ethereum platform that powers the Shiba Inu network. The platform features a range of products, from an exchange to an art incubator, and is compatible with a wide range of apps due to its Ethereum based nature. Trading for a fraction of a US cent, Shiba Inu offers a cost-effective way to enter the crypto market. Several businesses have also started accepting the cryptocurrency, allowing customers to pay for sales with SHIB.

How Is Shiba Inu Different From Dogecoin?

A great place to start when trying to understand SHIB is to determine the differences between these two biggest meme tokens. Starting with Dogecoin, the network provides a fast and cheap peer-to-peer payment system that is commonly used for tipping on social media platforms. 

Shiba Inu on the other hand is a little bit more complex. The platform provides a decentralized exchange (DEX) known as ShibaSwap which allows users to earn interest, as well as two other tokens, BONE and LEASH. The project describes itself as an experiment in decentralization. 

Shiba Inu is built on top of the Ethereum protocol, with the tokens created using various token standards, SHIB being an ERC-20 token. This makes it highly compatible with ETH wallets and most DeFi apps, while DOGE requires a specific wallet. These are all reasons as to why investors are calling it the Doge Killer.

Does Shiba Inu (SHIB) Have a Future?

In 2021, Shiba Inu saw gains of 53,241,775%. Investors that bought $2 worth of SHIB on 1 January would have been sitting on millions of dollars worth of returns at the height of the bull run. That's enough to make any digital currency enthusiast look twice. 

So far in 2022, the markets have been predominately down, with Bitcoin and Ethereum falling roughly 35% from their highs in November. Shiba Inu on the other hand has lost around 70% of its value since its all-time high in October 2021. Despite this, it has seen upward swings since, gaining a large amount of value in early February. 

The surge is believed to be contributed to by an Italian fast-food chain called Welly's. Welly's is also Shiba Inu-themed and accepts the cryptocurrency as a form of payment. Two other believed catalysts are the upcoming Shibarium (Shiba Inu's latest blockchain project) designed to reduce transaction fees and the project's vocalized intentions of entering the metaverse. 

Can Shiba Inu Coin Reach $1?

A popular question among crypto afficionados is whether Shiba Inu can reach $1. While there is certainly speculation in the market that this is possible over a substantial period of time, as with any cryptocurrency there is no guarantee on how much money it will be worth in the future. With the price affected by supply and demand economics, there will need to be a considerable amount of hype and demand for the cryptocurrency in order to it to reach that value.

While Shiba Inu could be a promising token should it skyrocket again, it is still considered to be a risky token. The cryptocurrency certainly has an attractive price point and a number of use cases, however, it is also in its early stages as a crypto and is currently less widely accepted when compared to other cryptocurrencies.

As the world waits on authority news regarding the regulatory framework surrounding cryptocurrencies, there are definitive hurdles that need to be reached before the Shiba Inu coin reaches $1, should it do so. There are currently over 545 trillion SHIB in circulation. For your protection, ensure that you never put more funds than you're willing to lose.

How Can I Buy Shiba Inu In The UK?

In love with SHIB or Shiba inus in general? Should you wish to purchase some Shiba Inu (SHIB) with your British pounds (GBP), you can do so easily and securely through the Tap mobile app, from where you can also store the tokens. Tap accepts GBP and supports faster payments for lightning-fast top-ups while allowing users to buy, sell, and engage in a number of cryptocurrency markets and services.

How Can I Buy Shiba Inu In Europe?

In love with SHIB in europe? We got you covered. Should you wish to purchase some Shiba Inu ( SHIB ) with Euros, you can do so with ease and securely through the Tap mobile app, from where you can also store the tokens. Tap accepts Euro and supports SEPA transfers to enable all EU & EEA traders and investors to buy, sell, and engage in a number of cryptocurrency markets and services. 

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Cryptocurrencies derive their value from supply and demand, with the buyers and sellers playing an enormous role in the market's liquidity, and ultimately, success. This rings true for stocks, commodities and forex markets too, essentially any asset markets with trading volumes.

Anyone participating in these markets will have been a maker or a taker at some stage, most likely, both. In this article, we're breaking down the concept of makers vs takers, exploring their vital role in the market and large quantities of these result in stronger exchanges. 

Liquidity Explained

Before we dive in, let's first cover an important concept: liquidity. Assets can sometimes be described as liquid or illiquid, this simply refers to how easily the asset can sell. Gold is a prime example of a liquid asset as anyone could easily trade it for cash without any hassle, while a glass statue of your neighbour's cat would be an illiquid asset as the chances of anyone wanting to own it are slim (except for the neighbour, maybe). 

Building on this, market liquidity indicates how liquid a market is. A liquid market means that the asset is in high demand, traders are actively looking to acquire the asset, while also having a high supply, meaning that traders are actively looking to offload the asset. An illiquid market then means that there is low supply and demand, making it difficult to buy or sell the asset for a fair price.

In a liquid market where there are many traders looking to buy and sell an asset, the sell order (ask price) tends to be in the same region as the buy order (buy price). Typically, the lowest sell order will be the same as the highest buy order, creating a tight buy-ask spread. 

Now that we've covered liquidity, it's time for makers vs takers. 

What Is The Difference Between Market Makers And Market Takers?

As mentioned above, any successful exchange requires a fair amount of makers and takers. Let's explore the difference between the two below. 

Market Makers

Exchanges typically use an order book to conduct trades. The order book will store offers to buy and sell as they come in, and execute the trades when the criteria are met, i.e. someone could create an offer that says when Bitcoin reaches $40,000, buy 4. When the BTC price reaches $40,000, the order book with automatically execute this trade. 

In this case, the person creating this buy order is known as a maker. They are essentially "making" the market by announcing their intentions ahead of time via the order book. While many retail investors are makers, the field is typically made up of big traders and high-frequency trading institutions. 

A market maker is a liquidity provider. ‍

Market Takers

Market takers are then liquidity "takers", removing liquidity from the market. Takers create market orders that indicate to the exchange that the trader wants to buy or sell at the current market price. The exchange will then automatically execute the trade using a maker's offer.

A taker is a trader filling someone else's order. Market makers create offers for the order book, making it easier for users to buy and sell, while market takers exercise this liquidity by buying the asset. 

What Are Maker-Taker Fees?

You might have heard of maker-taker fees before, this makes up a considerable amount of how exchanges generate an income (after all, exchanges are businesses that need to make money). When an exchange matches a maker and a taker, they will take a small fee for the efforts on their part. This fee will differ from exchange to exchange, and will also be dependent on how big of a trade it is. 

As makers are providing liquidity to the exchange (an enticing attribute for any trading platform) they will pay lower fees compared to a trader taking away from the platform's liquidity. Always be sure to check the fee structure and pricing on a platform before engaging in any trading activity, these will be outlined in the platform's trading policy.

How Do Trading Companies Make Money?

Cryptocurrency and blockchain technology was designed to provide a decentralized financial system that bypasses government control. However, to alleviate regulatory concerns, exchanges were established to provide a reliable and convenient means of operating within the crypto markets. These exchanges provide a secure way in which users can buy, sell and trade cryptocurrencies, and in return make money through the activities of its customers as it is a business after all.

While maker and taker fees make up a large portion of how a platform generates an income, the business also generates income through deposit and withdrawal fees, commissions made on trades and listing fees. These typically make up the cost of production and running the business.

In Conclusion

Market makers contribute to the market's liquidity by creating orders looking to be filled, while market takers fill these orders. Makers are typically rewarded for bringing liquidity to a platform with low maker fees, while takers pay higher fees when they make use of this liquidity, easily buying and selling the asset. 

In this article, we’re guiding you through the intricacies of the e-money licence: what it means, who needs one and of course, how it affects you, the consumer. This new wave of regulation has been put into place to not only safeguard the consumer but also to put measures in place to identify and stop fraudulent activity. 

What Is Electronic Money (E-money)?

Before we dive into the licencing requirements, let us first take a look at what electronic money is defined as. Essentially, e-money is a digital version of cash. It maintains a monetary value that can be used to make payments and various transactions, typically over the internet, or through a phone or card. 

E-money products are either software-based or hardware-based and are responsible for electronically storing the monetary value. Software-based products are used on computers and tablets and require an internet connection (like PayPal for example) while hardware-based products encompass cards that have a chip card and do not require an online connection (for example, Square). ‍

What Is An E-money Licence? 

The e-money licence is a regulatory licence that authorises an electronic money institution (EMI) to conduct business. EMIs represent the digitisation of financial services and are authorized to issue money as well as provide payment cards, e-wallets, and IBAN accounts. While banks may provide a similar service, they require an alternative licence as they are able to provide a greater range of services.

 In a nutshell, an EMI is considered as such if it engages in the issuing and redeeming of electronic money (e-money), cash withdrawal, deposit and payment services, remittance services, debit or credit transfers, payment initiation and execution services, and account information services. They may conduct these services only if they have the proper licensing.‍

How Does It Protect The Consumer?

While regulation and consumer protection are the driving force behind e-money licences, there are also several other reasons as to why the regulatory framework has been put into place. The licence is designed to provide businesses with the opportunity to gain access to the e-money market, to facilitate innovation in secure e-money services, and to build healthy competition in a secure market. 

E-money licences are obtained to safeguard a consumer’s funds should the EMI become insolvent. This operates in an entirely different manner to a banking licence. Under the proper regulation, EMI’s can choose to do either of the following options to safeguard consumer funds (funds provided by customers in exchange for the issuance of e-money):

• deposit the funds into a segregated client’s funds account with an authorised credit institution, or
• acquire insurance that will cover the risks associated with the client’s funds.

This ensures that the consumer is always protected against loss of funds, and will be compensated accordingly should the situation present itself. It is imperative that consumers only choose EMIs with the correct e-money licences. 

How Much Money Is Protected With The E-Money Licence? 

According to the FCA regulations, the EMI is responsible for establishing the appropriate organisational arrangements to ensure that the safeguarded funds are at all times protected. 

As mentioned above, this can be done by either storing the deposited customer funds in a separate account (different from the institution’s working capital and other funds) or by ensuring that they are covered by an appropriate insurance policy or comparable guarantee. 

While licenced banks work in conjunction with the Financial Services Compensation Scheme (FSCS) and only insure users up to ￡85,000, EMIs are required to protect 100% of the consumers’ funds. 

According to the licence, EMIs are required to safeguard all funds deposited on the platform and not just a portion as per the licence required by the banks. 

While EMIs take several other precautions to protect consumer funds, the e-money licence ensures that the most fundamental legal requirements are met, granting the company the right to legally operate.  

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If you're looking to earn extra money from anywhere online you've come to the right place. Making money online has certainly become more accessible and easier over the years, and in this blog, we're reviewing several ideas to do so without having to invest.

Whether you're looking to make some money on the side, or as a full-time pursuit, remember that as with most things in life: consistency is key. On this page, you'll find a number of beginner options requiring no particular skillset (only a bank account) for you to look into, relevant everywhere from the United Kingdom to the European Union to Australia. Each method varies in financial contribution, which we've highlighted at the end with a rating of the start-up costs.

Top 5 ways to make money online for beginners

1. Affiliate marketing

Affiliate marketing involves an individual earning money through promoting another business's product. This can be done through your own platform which might range from a blog to a website, social media, email campaigning or simply Google Ads. 

All you need is a working internet connection, a bank account and a reliable browser. Each time a friend or family clicks and signs up for the product, you bank a commission. 

Many companies these days offer this service, try to find one that you and your network might be interested in and see the opportunities that they present. 

Start-up Costs: $

2. Dropshipping

This will require a substantial amount of effort, however, the returns will be that much greater. Dropshipping involves selling a product online that you do not need to keep an inventory of, instead, the company that you are buying the goods from sends them directly to the customer. 

You act as the middleman between the manufacturer and the consumer and make money from the margin that you add. The start-up costs will be for your online website and marketing. 

Start-up Costs: $$

3. Freelance your skills

You can hire out your skills on sites like Upwork or Fiverr. Users create profiles expressing their skills, anything from writing to graphic design to music creation, and can apply to jobs requiring these skills. 

These sites will typically allow employers to connect with employees, and once the work is completed the funds are deposited directly into your account. This is also a great way to start a side hustle in your area of expertise without having to tuck into your savings.

Start-up Costs: zero

4. Explore the world of cryptocurrencies

Engaging with cryptocurrencies has gained significant attention in recent years. Before diving in, it’s important to educate yourself thoroughly to grasp the complexities involved. Our blog section on how to learn about crypto is a great place to begin. The cryptocurrency market is known for its high volatility, which presents both risks and opportunities. Whether you're active daily or only occasionally, understanding the landscape is key. To get started, consider signing up for a reputable and regulated platform like Tap, which can help you manage your funds securely.

Start-up Costs: $$

5. Participate in online surveys

Online surveys are a popular way for beginners to make money online. Companies are always looking for feedback on their products and services, and they are willing to pay for it. There are several websites that offer paid online surveys, such as Swagbucks, Survey Junkie, and Toluna.

To get started, simply sign up for an account, complete your profile, and start taking surveys. You'll earn points or cash for each survey you complete, which can be redeemed for gift cards or PayPal payments. Keep in mind that surveys may have specific demographics, so you may not qualify for every survey. However, with some patience and consistency, you can earn a decent amount of extra income in your spare time.

Start-up Costs: zero
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Earn money online from anywhere in the world

Of course, this list is only a small portion of the ways you can make money online, simplified down to the top 5. If you have more time at your disposal you can engage in market surveys, beta testing, becoming a virtual assistant, or even coaching. 

The opportunities are endless, with a wide range of start-up costs, time management, returns and the amount of effort required are to be considered. Ensure you do adequate research in order to learn about your next venture before diving in. At the end of the day, anyone can earn money online, the first step is just to get started. Good luck, may you have only lucrative experiences.

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5 tips on how to manage your money 

Now that you’ve established your income stream/s, here are 5 tips on how to manage the money you’re making. Whether you’re doing this as a side hustle or a full time job, consider implementing the following 5 steps in order to build your finances. . 

1. Build an Emergency Fund

Just like in personal finance, building an emergency fund is crucial for making money online. This fund will act as a safety net in case you hit a rough patch, and it will allow you to continue your online work without financial stress.

2. Create a Budget

Budgeting is another essential aspect of making money online. Creating a budget will help you keep track of your income and expenses, and it will allow you to make informed decisions about where to allocate your resources.

3. Focus on Your Niche

To make the process of making money online more enjoyable consider focusing on a specific niche that you are passionate about. Whether it's writing, graphic design, or web development, become an expert in your field and provide value to your clients.

4. Network and Build Relationships

Building relationships with other professionals in your industry is a valuable step when making money online. Networking can help you find new clients, build your reputation, and even lead to new business opportunities.

5. Stay Consistent and Persistent

Making money online takes time and effort, and it's important to stay consistent and persistent. Set realistic goals for yourself, create a schedule, and stick to it. Remember that success doesn't happen overnight, so don't get discouraged if you don't see results right away.

So what are you waiting for?