In case you don't know, passive income is income that you earn without much active involvement or effort. It can help you supplement your regular income, save for your goals, or achieve financial freedom.
I will share with you seven free ways to make passive income in Trinidad and Tobago, or anywhere else in the world. Let's get started.
Most of these passive income methods pay you through PayPal and other methods such as cryptocurrency. For the best success as a Trinidadian, you should create a PayPal account to get paid online.
You can get a PayPal account by signing up with JMMB Bank using their card or through another method of your choosing.
1. Honeygain
Honeygain is a passive income app that pays you for sharing your unused internet bandwidth with scientists who work with data and researchers.
You can earn up to $50 USD per month depending on your location and network speed. Honeygain supports payouts via PayPal or cryptocurrency like Bitcoin.
Honeygain is easy to get started; all you have to do is run the app in the background. Just make sure you have an internet connection.
If you're using an iOS device in Trinidad and Tobago, then you're unfortunately out of luck as the app is not currently available in the app store. Android, Windows, and macOS users can install the app from Honeygain's official website.
2. Create A Blog
You may have heard of this method of earning passively before, but it still remains true!
Monetize a blog or a website on a niche that you are passionate about. Once you have content on your blog or website, it can generate income for you over time.
You can earn money from ads, affiliate marketing, sponsored posts, or selling your own products or services.
You can use WordPress, Wix, or Squarespace to create your site. If you prefer to just focus on creating the content that will generate passive income or don't have much time on your hands, then using EC Web would be a good choice, as they can handle website creation and management for you.
EC Web is a website where you can easily create a blog website for cheap and start creating content.
3. Rakuten
If you love to shop online or that's your preferred method of shopping, then this is for you.
Rakuten is a passive cashback app and website that pays you for shopping online. You can earn up to 40% cashback at over 3,500 stores, including Amazon, Walmart and more.
You can get paid via PayPal or check every quarter.
Rakuten is another way to generate income passively if you like to shop online.
4. Sweatcoin
Sweatcoin is a free app that pays you to walk. It tracks and verifies your steps using GPS and converts them into sweatcoins, a digital currency that you can spend on various rewards, such as gift cards, products, or services.
Sweatcoin only works for outdoor steps, and you need to keep the app running on your phone at all times.
You can also change the sweatcoins you earn from exercising into cryptocurrency, which you can then convert into real money.
5. Outsourcing
So what does outsourcing mean? Outsourcing means delegating your client work to someone else, such as another freelancer or a referral partner.
Basically, you have others do the work for you while you earn a percentage of their pay.
If you happen to know people in need of a certain skill and you also have the ability to connect them to those who can provide that skill, then you are well on your way to starting a business based on outsourcing.
6. Pawns.app
Pawns.app is another free app that lets you earn passive income by sharing your internet bandwidth and by completing surveys. You can download the app on your smartphone or computer.
There are two ways to earn money: internet sharing and surveys. You earn based on how much internet data you share. You can control how much bandwidth you want to share and when you want to share it.
Pawns.app also offers paid surveys that you can complete to earn extra money.
You can cash out your earnings via PayPal, Bitcoin, or gift cards once you reach $5 USD.
