8 Ways to Make $5,000 Per Day While Sleeping

Consider the wage or salary you would receive for working a regular 9 to 5 job; the only issue here is that you must actually work.

Passive income is entirely different; after an initial period of time and effort to establish this revenue stream, it should theoretically continue to make you money with little to no upkeep on your part.

Think stock appreciation, interest from term bank deposits, superannuation, and the like, but as you can imagine, all of these things take time to gain value, and we want that cash now.

1. Stream yourself on YouTube

is a mine of gold Don’t believe everything you’ve heard; there are still plenty of hills to mine and make your fortune on. Begin by producing high-quality content that adheres to a similar theme or focuses on a previously untapped audience niche. The idea is that after you put in the time and effort to create your content, each video will accumulate views for life, which will translate into a commission paid by the YouTube advertising scheme. On average, you can expect to earn around three dollars per 1000 views, but this figure can more than quintuple if you use targeted ads tailored to your audience.

Another way to make money with your channel is to use it as a springboard for other side hustles, such as affiliate links for any equipment you feature in the content, because if you’re recommending it, you might as well get paid for it. You can take it a step further by creating online courses, ebooks, and other digital content that attracts traffic from your channel, but more on that later.

2. Marketing through influencers

Do you have an account on Instagram, Pinterest, or Tiktok? How many subscribers and followers do you have? Popularity can pay dividends. You can earn money by promoting an affiliate product via your personal sponsored posts. The question is, how many followers do you need to be a successful influencer? When it comes to making money on Instagram, for example, you can be considered a nano influencer if you have anywhere between 1 000 and 5 000 followers. That doesn’t sound so impossible right? But it isn’t just about numbers, your followers need to be engaged in your posts, and your account should have reach. It doesn’t matter if you have 100 000 followers if they aren’t looking at your posts.

If you believe you have the potential to be an Instagram influencer, there are websites that will calculate how much money your Instagram account would generate if you were to consider becoming an influencer.

3.Staking of cryptocurrency

For the uninitiated, cryptocurrency trading is a very new and frightening industry, but with the rise of second and third generation blockchain platforms, new mechanisms exist to earn crypto rewards simply for owning specific currencies, similar to putting money in a bank and earning interest. Staking entails allocating your portfolio to a pool for a short defined period of time, often just a few days, to support the network rewards are paid after this period and the process is repeated on average stakers can expect approximately 5% pa paid in the cryptocurrency they staked in cryptos that offer this option include ethereum 2.0 algorand and cardano

4. Online Education

Consider something you are knowledgeable about or something that your friends and family constantly ask you to teach them about. Chances are, there are other people looking to up skill in your particular area of expertise and who will pay you to learn. Begin by creating a short course based on your know-how because this is the first step in quantifying your unique skill set as a resource to generate the passive income you desire. Say you’re a fisherman, and you’re so good at it that it’s as if you’re talking them into your catch bag. You know exactly which rods, reels, and lines to buy, the lures and bait to use, and where to fish.

People will pay good money to fast track their quest to landing that fish of a lifetime, just like youtube. Once you put in the effort to put together your knowledge in an appealing and easy to understand format, that’s it. It will continue to make money over time as people purchase that course.

5th. Affiliate Promotion

We hinted at it earlier, but there is some good money to be made by recommending products as long as you use affiliate links to get paid to do so. After all, you’re doing it for free anyway, so why not make a few bucks? Amazon Associates is possibly the largest affiliate marketing scheme online today, so it’s well worth signing up. The beauty is that you’re given your own unique links to products that you can insert into those youtube descriptions, which accomplishes two things. First, if a viewer clicks your link and decides to buy that product, Amazon will give you a percentage of the sale price as a commission as a thank you for assisting them in making that sale. Depending on the product, you’ll get between 1 and 10 of the final sale price, which isn’t bad for doing nothing, but it gets even better if that same customer makes another purchase within the next 24 hours or places an item in their cart during that time and pays for it within the next

6. Create an app

So this idea may seem daunting, but you don’t have to be a mobile coder or software developer to pull it off. In fact, if you have a cell phone, you’re already dealing with ux. Let me explain. The best apps were created by an average person who noticed a gap in the market, an everyday person who noticed that there was a whole untapped gaming niche or a whole user base screaming out for automation and decided to create it. Freelance boards are full of hungry developers who can quote you to build your app from the ground up from there it’s a matter of getting it approved by the various app stores and you’re in business and when I say business I mean literally set and forget the work has been done and after app store commissions every cent of every app download will end up in your pocket remember the game angry birds at its peak the app owner was making up to $50,000 a day

7. on-demand printing

Print on demand is a business model similar to drop shipping, but with a twist: you start by creating your own online e-commerce store using Shopify or something similar, and then you find a print-on-demand supplier. What is the twist? Suppliers sell a wide range of blank products such as t-shirts, phone cases, mugs, pillowcases, wall art, baseball caps, and many more. Instead of selling generic products, you work with a supplier to design your own custom products, and when someone places an order through your store, they will print your unique design on their blank product and then ship the final product to the customer. This means you can create original niche products and build your own brand, allowing you to manufacture and ship your own products without having to deal with that side of things yourself.

Rent a room on Airbnb.

is an easy way to generate passive income from an asset you already own. Instead of booking a hotel, people can request lodging at someone else’s home or property through the website airbnb.

You can list it to be available whenever and as often as you want, such as when you’re out of town or on vacation. The big advantage is that airbnb will guarantee up to a million dollars in liability for any property damage caused by rowdy guests. Similarly, there are other sharing apps such as car next door, where you can rent out your car to share with other users for a fee. This is ideal for times of the day or night when you are not driving or are away on vacation. Car next door screens all drivers and covers your car with their own comprehensive insurance in the event of an accident, while you have complete control over when you want to rent out your car, an asset we frequently take for granted.