Here are some creative and new ways to make money while you sleep (aka passive income) for the year 2023. Read this article if you want to retire right away!
Ways To Make Money While You Sleep
You want to make some extra cash. That’s a good place to start. I studied the whole passive income sector and used some of these tactics myself. Because of this, you can be sure that each of them is a good choice.
If you’re unfamiliar with the term “passive income,” it’s simply anything that earns you money while you sleep. To put it another way, this is not a 9-to-5 job.
To earn passive income, you must first invest something, and then it will generate revenue. For example, in order to make money through Medium, you must first create multiple articles. But we’ll talk about it more later!
I know you’re weary of hearing the same phrases over and over, such as affiliate program and niche blogging. I try to explain just those that are one-of-a-kind or actually functional. I hope you like it!
Cryptocurrency Liquidity Pools
Liquidity pools offer the liquidity needed to run by allowing users to deposit their digital assets into a pool and trade the pool tokens on DEX (decentralized exchanges).
In other words, you may contribute part of your crypto currencies to the pool and receive a proportion of them in the long run. It’s similar to making a bank deposit. On the other hand, liquidity pools often offer much higher rates and are based on blockchain.
It may possibly be advantageous because you are also investing in cryptocurrency. You acquire a percentage of the cryptocurrency, and if it increases, you gain money from it. But the cryptocurrency market is very volatile, so you should think about these risks before putting money into a liquidity pool.
Uniswap is the most significant DEX right now. It is one of the first on the market and runs on Ethereum. There are others, like PanckakeSwap, Compound, and so on.
Decentralized exchanges, like as FTX, Binance, and others, are significantly safer. You’ve probably heard about the most recent cryptocurrency crisis, which was sparked by a controlled exchange. You can learn more from the articles below.
Read More: Cryptocurrency Crises You Must Know
Templates For Sale
If you’re good at anything, there are always ways to make money from it. selling a digital product in this market, for example, or especially through partnerships.
I’m a frontend designer, and this is a fantastic chance for me to put my concepts into usable templates. I’m selling these templates on Gumroad, and you may do the same.
Several digital items, such as Figma templates for marketing companies, a personal blog, and an online store, may be found on my profile. They are all priced between $10 and $15, which is really reasonable for such things.
But keep in mind that this template may be purchased a thousand times. It will also assist many other people in this field in completing their work much more quickly.
You may even sell items such as Notion templates. If you don’t already know, Notion is a one-of-a-kind tool that can benefit everyone. It might be your personal database or a project dashboard. In any case, you may always try to make something and then sell it!
It allows you to make a limitless quantity of money. I’ve sold numerous templates for a total of $200, which isn’t too bad. You may make considerably more money—up to $100,000 every month.
You might also try selling some svg icons you created on flaticon. Or create some ppt (powerpoint) templates for users to download; these are fantastic things to try if you are unfamiliar with coding.
Making Content
This is probably not as unusual as it might be, but I want to tell you about it anyhow. It’s foolish to ignore the fact that content development is thriving right now.
There are several social media platforms and locations where you can share and monetize your ideas. Medium is an excellent example; you can write about anything and observe how others react to it. I do it myself and earn roughly $400 each month completely passively!
You can always upload videos to YouTube if you don’t enjoy writing. Make TikToks about something amazing and original. You may also start a podcast. It makes no difference which platform you wish to build; there are several ways to monetize it.
My own suggestion to you is to not start on everything at once. I began my own blog here and am now looking to expand into other services. You should also do the same!
YouTube Channel With No Face
It is, in fact, a different form of content generation. However, you will not be required to expose your face, and you will need to know anything in order to begin producing. You can automate the whole process of generating YouTube videos and generating money from them completely passively by utilizing current technology.
First and foremost, you must select a specialty. You’ll also need a script for your video. You may write it yourself or use a tool like Rytr or Jasper. These are the most popular AI writing services, which you can use if you want someone else to write for you.
After you’ve finished writing the screenplay for the video, you’ll need to add some voiceover. Again, you may do it yourself or hire someone to do it for you, such as Murf. It will read your script as if it were a human, not a robot. If you don’t have a good microphone or simply don’t want to use your own voice, this is a wonderful choice.
The last step is to have the video itself. You may visit Pexels to look for free stock videos to use as a background. There is, however, a way to automate using AI. Pictory.ai just combines a collage of several movies related to your topic to make it look more professional.
Subtitles and other amazing features are also available. It is critical to note that even if you wish to automate everything, you still need to carefully verify each step. You may need to reword multiple words or alter the backdrop movie at times.
In a word, making a faceless YouTube account and constantly uploading videos is a great way to make extra money, especially since the whole process can be done automatically.
Low-Fi Beats / AI-generated Music
We’ve all heard of lo-fi beats. If not, it’s just peaceful and soothing music without lyrics. People frequently listen to it to help them relax and concentrate. Many developers including myself use it as well, since it is much more enjoyable to work with music on.
This is undoubtedly one of my favorites because it has virtually limitless possibilities. As we all know, there are thousands of services that provide automation or AI-related services.
You may make your own lo-fi beats from scratch by using some of these services. I’ve used Avia, which gives you free access and lets you download up to three songs at a time.
You may give it a try and see how it goes. It can make not only simple rhythms but also more complicated types of music. You may later sell it on several music markets or even post it to Spotify.
It makes no difference what you do with these music files later; you can still generate money from them.
Not only can you build lo-fi beats, but you can also try to create a model like Jukebox to generate unique music that you can publish on Soundcloud or create an auto live-streaming channel on YouTube or anywhere else.
Conclusion
That’s all there is to it. These are the five most interesting and distinctive passive income sources you should think consider establishing in 2023. I’ve tried them all and recommend that you do as well. All of them are fully functional, and you should concentrate on at least one of them. Some of these need more advanced approaches, but they have recently shown to be highly profitable.