Skip These 7 Ways To Make Money Online

Skip these 7 ways to make money online

Making money online isn’t hard – but it’s also not always worth your time. There are many legitimate jobs, even high-paying opportunities, that require no more a computer and internet connection. On the other end of the spectrum,P there are opportunities that seem good but aren’t. You might wind up making less than a dollar an hour, or worse, losing money.

The seven online money-making opportunities below fall into the latter group. You might be able to make money, but it’s often best to pass.

 

In-Game Farming

Many massively multiplayer online role-playing games (MMORPGs) have some form of in-game currency. You can make real-world money by playing the game, earning the in-game currency, and then selling it to other players. Often the sale of in-game money for real-world currency is against the rules of the game, but that doesn’t keep it from happening. However, the hours you’ll need to put in to make money are rarely worth it. Plus, your game will turn into a job.

 

Taking Online Surveys

If you’re looking for an easy way to make money, there are dozens, maybe hundreds, of survey sites that are happy to pay you to answer length questionnaires. Often you’ll need to start by entering basic demographic data about yourself and then you’ll be sent surveys that fit your profile. Once in a while you might find a high-paying offer, but more likely your 15 to 30 minutes of work will be rewarded with a dollar or less. Some survey sites use points or credits to disguise your actual earnings. Five minutes for 500 points seems good until you realize that’s only five cents.

 

Spamming Friends

Companies know that a personal recommendation from your friends goes a long way, which is why they’ll pay you to recommend their product. You can sign up with sites like SponsoredTweets.com and sell tweets from your account. Other services pay you to posts, like, and shares from all sorts of social media sites. But, is it worth losing friends for a couple bucks? Stick to sharing and recommending what you really think, not what you’re paid to post.

 

Content Mills

There are many websites that will pay you a few dollars to write an article, and it can be tempting work. You can write from anywhere, and if you’re a quick writer you can finish an article in less than an hour. Some writers start with these sites as they build up a portfolio that they can then show to new potential clients – although that’s a questionable tactic as these sites don’t have a good reputation. Because the focus is on quantity rather than quality the sites are sometimes called content farms or mills.

Content mills make money by either reselling the articles or putting ads on the pages (sometimes ad revenue is split with the writer). In addition to the low pay – which may be less than $5 an article – you may need to make a minimum amount of money before you can transfer the balance to your bank or PayPal account. You’ll be working like a low-paid farm hand if you sign up.

 

Day Trading

Some people make great money buying and selling stocks, exchange-traded funds, and options online – but most don’t. There are individual accounts of successful day traders warning others against it and the academic study “Do Individual Day Traders Make Money?” found that in a typical six-month period over 80 percent of the day traders lost money. You’ll also need to keep $25,000 in your account, in addition to any funds used for trading, or you won’t be allowed to trade.

 

Forex Trading

Similar to trading stocks, you can trade currencies on the foreign exchange market or forex. Again, while some people make money, the majority do not. According to a January 2014 report from CitiFX, Citigroup’s former online foreign exchange platform that, only 30 percent of retail forex traders make money.

 

Multi-Level Marketing

When you work for multi-level marketing firms, such as Avon, Mary Kay, Herbalife, and Beachbody, you make money by selling products and recruiting new salespeople. Some multi-level marketing companies (MLM) are legitimate, and some people make lots of money, but that’s not always the case. MLM companies aren’t necessarily bad, but you may spend lots of time – and money – trying to sell products and recruit people and wind up with nothing to show for it. You might even lose money as some MLM companies require you purchase an initial starter kit.