Passive income is the holy grail of money-making ideas because it helps you build wealth and reach financial freedom faster than with any other approach. However, passive income can be hard to come by in Pakistan, because most of the methods used in developed countries don’t work here – probably because our population’s median income is so low compared to those nations!
However, if you know where to look, there are several passive income ideas in Pakistan that actually work, including these eight ideas for your consideration…
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What is Passive Income
Passive income is a great way to earn money without having to put in a lot of effort. There are a few different ways to do this, and each has its own set of pros and cons.
Here are 8 passive income ideas that actually work in Pakistan.
Passive Income Ideas in Pakistan
The Passive income ideas that work best in Pakistan are:
- Selling Domain Names
- Drop Shipping
- Affiliate Marketing
- Investing in Cryptocurrencies
- Selling Your Photos Online
- Investing in Rental Properties
- Becoming a Virtual Assistant
- Start Blogging
1) Selling Domain Names
If you have a knack for finding popular yet undiscovered domain names, you can make some cash on the side by buying and reselling websites.
Imagine it like real estate investing online. You buy domains for cheap (about $10 to $20), then resell them to hungry buyers for a profit (about $100 to $500).
The best part is that your website doesn’t need any traffic in order to earn money, so this income stream is passive in nature.
2) Drop Shipping
You can start a dropshipping business with little to no upfront investment. All you need is a domain, hosting, and a WordPress site. You can then find products to sell on your site and have them shipped directly to your customers. Dropshipping is a great way to start an online business with little risk.
As a dropshipper, you would sell products online and take care of the shipping logistics. It’s a great way to make money passively, and there are plenty of eCommerce platforms like Shopify that make it easy to get started.
3) Affiliate Marketing
You can make money online in Pakistan by becoming an affiliate marketer. Affiliate marketing is a type of performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought by the affiliate’s own marketing efforts.
To become an affiliate marketer, you’ll need to promote products or services of other businesses on your blog or website. When a user clicks on one of your affiliate links and makes a purchase, you’ll earn a commission.
4) Investing in Cryptocurrencies
Cryptocurrencies are a type of digital asset that uses cryptography to secure its transactions and to control the creation of new units.
Cryptocurrencies are decentralized, meaning they are not subject to government or financial institution control. Bitcoin, the first and most well-known cryptocurrency, was created in 2009. Cryptocurrencies are often traded on decentralized exchanges and can also be used to purchase goods and services.
When it comes to investing in cryptocurrencies, you should keep in mind the risks involved with this form of investment. The high volatility could lead to losses for investors if there is an economic downturn. There is also risk that some cryptocurrencies may fail which would make them worthless (Bitconnect).
5) Selling Your Photos Online
If you’re a photographer, there’s no reason why you can’t sell your photos online and earn some extra cash. There are a number of websites that allow you to do just that, and you can even set your own prices. Just make sure that your photos are high quality and that you have the rights to sell them.
If you’re worried about how to get started, check out sites like Shutterstock and Getty Images. These stock photography websites are two of many that allow photographers to upload and sell their photos online.
If you don’t have any experience shooting for stock or aren’t ready to start, you can also sign up as a free contributor to one of these websites and add your photos to their library.
From there, other photographers will be able to download them for use in their own projects. The sites typically pay contributors with a small percentage of each sale from those who download your images.
6) Investing in Rental Properties
A lot of people think that you need to have a lot of money saved up in order to invest in rental properties. However, that’s not the case. You can actually start investing in rental properties with very little money down.
The key is to find the right property and to finance it correctly.One of the best ways to find your first rental property is by taking advantage of Airbnb.
7) Becoming a Virtual Assistant
You can become a virtual assistant through companies such as Zirtual and Belay. As a virtual assistant, you will provide administrative, technical, or creative assistance to clients from home.
This is A great way to earn passive income because you can work as little or as much as you want, and set your own rates. You can also use websites like Fiverr or Workchest.
8) Start Blogging
A great way to start generating some passive income is by starting a blog. You can blog about literally anything you’re passionate about, and if you build up a large enough following, you could make money through advertising, affiliate marketing, or even selling your own products.
It takes time and effort to get a successful blog off the ground, but once you do, it can provide you with a great source of extra income.