‘The difference between rich and poor is this: RICH invest their money and spend what is left. The POOR spend their money and invest what is left.’
This quote from Robert Kiyosaki can be a good start to bring attention to the core of the subject of making money from money. He is one of the most famous names from the bunch of the richest people in the world. Whatever he says, cannot go unnoticed.
This is true that when it comes to the desire of making huge money, the approach becomes important. The way you think decides the growth of your wealth.
Across the world, the debate on how to make money from money is always ON. The suggestions on this aspect are numberless. The ultimate need is to know precisely the options that can increase your financial asset in big numbers. Of course, a 9 to 5 job or an extra income from a freelance work cannot fulfil the purpose.
Then what is the plan?
Big Returns Cannot Be Attained Without Big Investment – Learn the Lesson from the Famous Names
The journey of earning enormous wealth starts from investment. Small or big, you have to give something to get something in return. Think of the names that are known for their immense treasure. They all acquired through smart investment decisions. It is better to take a REAL-LIFE EXAMPLE and make things clear.
Jeff Bezos – The founder of Amazon.com and the owner of MANY MORE businesses
This person is always in the Forbes list of the richest people in the world. He has become a great example after Amazon earned more than $230 billion with $10 billion record net profit in 2018. The business world is talking about his great success, as it is absolutely unavoidable.
Net revenue of Amazon (annually) from 2004 to 2018
He didn’t become a billionaire overnight. He tried his hands in many types of businesses. He started the career in an investment firm and became its youngest Vice president in 1990. But what made him different was his courage to take a risk and invest in a new idea. Read here how to become a millionaire before 25 age.
He left his job at the peak of his career to explore the possibilities on his own. He decided to open an online bookstore Amazon.com that later turned into the world’s most renowned e-commerce website. Then, he gradually opened his wings and tried his luck in many fields. The Washington Post (American daily newspaper), Blue Origin (an aerospace company), Kindle E-Reader (digital book reader) etc. all are the results of his wise mind. Besides, he is also into grocery, entertainment with Amazon prime, virtual assistance with Amazon Alexa and might be planning for more.
However, he also faced bumpy roads. His mobile product named, Fire Phone could not succeed but that did not stop him. His earning through stocks took him to a level where he earned $260 million per day. Jawdropping!! Isn’t it?
His tough decision to leave a lucrative job when he was doing great made him the winner. This is what investors do, they take the risk. Yes, it was laudable. The bold decision to leave the job and move to Seattle to explore the possibilities through his online bookstore was the prime stimulator behind making him a special personality.
ONE GREAT THING THAT JEFF BEZOS DID WAS INVESTMENT AT THE RIGHT TIME IN THE RIGHT THING. Money needs platforms to increase and investment is the best tool to facilitate that.
Now when you have just gone through a complete story of inspiration, it is the right time to talk about some investment ideas. Here are the suggestions of some most promising choices that you can explore. Before the actual thing starts, take the most important teaching, and never go beyond your risk profile.
Online business – The whole world is there
The interesting journey of the Amazon head that you enjoyed above is perhaps sufficient to justify the potential of online business. When Jeff Bezos started Amazon.com as the online bookstore, within two months the sales reached $20,000. This business started in his garage but took a great leap in such a small time. The number of countries he was serving was 45. Can you imagine? The online platform is stunningly powerful. Things can reach to a wider area in a very short time. Isn’t it a great example to prove how hugely you can increase your income through online business? Yes, it is.
It is possible to start your own online business with a small investment. E-commerce business is the most promising and it has always established landmarks while earning more and more every year. From clothing to electronics, choices are in abundance.
Some ideas to try for the online business are –
- Sell your handcrafted products.
- Take the franchisee of a renowned brand.
- Open an online store to sell the creations of artists under a legal agreement. For example – selling the home decoration stuff created by the artists living in the less developed areas.
Most lucrative industries in the online business
Here is a table of the most profitable e-commerce businesses across the world.
E-COMMERCE BUSINESS CATEGORIES THAT GIVE HUGE FINANCIAL BENEFITS WITH THE NAME OF THE COUNTRIES THAT ARE RULING IN THESE FIELDS
Every year the e-commerce industry gets trillion dollars through sales, which show the signs of humongous profit. For 2019, the estimation was for $3.46 trillion in sales and it has reached quite near to this number.
Cryptocurrency – The miracle of electronic money
You may have many questions about it as an investment option but at least its introduction is not required. After all, the whole planet now knows the power of the digital currency. It has given many rich people to the world who earned billion dollars and pounds. Bitcoin is the most popular but you can always go for others, as they too are known to provide a great return on investment.
The most popular cryptocurrencies are –
To invest, you need to know the choices that are most profitable. Here are the well-known options.
- Stellar (XLM)
- Cardano (ADA)
The richest investors and how they made deep pockets
Every deed needs inspiration and to help you become confident about investing in digital currency, here are the examples of some popular names. They invested in cryptocurrency and earned the fortune in a huge number.
- Nakamoto – The pseudonymous identity created by the creator of Bitcoin. However, more important is not the name but the wealth that this name earned. It is believed that Nakomoto has Bitcoins equal in value to around $19bn, which brings him on the list of richest people in the world.
- Chris Larsen – He also earned a big fortune of $7.5bn to $8bn. He is the chairman of a company that uses blockchain technology to verify the transactions of all types of assets. He invested in crypto and gathered wealth, name and fame.
- Joseph Lubin – He is one of the founders of blockchain platform Ethereum. He is also the man behind ConsenSys, a company that facilitates digital money transactions. Inspired by an influential paper written by Nakomoto, this Canadian investor earned between $1bn and $5bn.
- Changpeng Zhao – Another landmark name in the list of the investors who invested his fate in the digital gold i.e. Bitcoin and earned back prosperity. He is the founder of the largest cryptocurrency exchange, Binance, which provides the platform for trading in more than 100 currencies. The exchange launched its token named binance coin (BNB) that works on Ethereum. He gathered up to £2bn in a short time after the launch of the exchange in 2017.
In all the above examples, people invested in their own companies that somehow relate to the functioning of cryptocurrency. If you have a good amount, you can start with a small effort and then become big.
No doubt, you need money to build such companies and if there is any financial gap left, you can think to borrow money. Why? Because finance companies across the world are aware of the potential of digital currencies as a gainful investment choice. Also, online are more flexible than the mainstream ones. The procedure is fast and you can get funds faster.
You can transform your digital money into cash – How?
The most exciting fact about cryptocurrency is that you can turn it into cash. Then you can use it exactly like your salary or any other income.
Cryptocurrency Exchange is The Most Reliable Method to fulfil the purpose. There, digital money converts into cash and is transferred to your bank account.
It is necessary to choose reliable exchanges that are safe and simple in procedures. Even the beginners can handle the formalities required for the process.
The steps in the process are –
- Step 1 – Create an account in the exchange.
- Step 2 – Link it with a debit card/credit card/bank account.
- Step 3 – Deposit the amount of the cryptocurrency you want to exchange.
- Step 4 – Choose the currency in which you want to change the digital money.
- Step 5 – Click on ‘exchange’.
Some well-known cryptocurrency exchanges are – Coinbase, Bitpanda, Kraken, Gemini, Binance, Changelly etc.
Currency Trading – For the players of international currency
To start with the simplest side of currency trading, it is the purchase of international currencies for the investment purpose. The investors buy a certain amount of currency and wait for an increase in its price to get the maximum return. They purchase by paying through their own currency. Forex is the international market for these dealings. Here you can do trading of various national currencies.
The abbreviations used for the varied currencies in the international trade market.
How does it work?
This is to help you understand how the purchase of money happens.
The prime thing to know is that for trading the currencies are listed in pairs. For example – EUR/USD, USD/CAD, USD/JPY, etc. A price is always there with every pair.
How do you buy in Forex?
It can be confusing to understand the actual concept. Here is an example for your help.
Take the pair of EUR/USD, suppose the price associated with this pair is 1.2436. This means, to buy one EUR, it takes 1.2436 USD. In case, an increase in price happens and becomes 1.4435, it means now it takes 1.4435 USD to buy one EUR. The value of EUR has increased, which means the investor can now get more money if he turns it into his own currency. In this way, the person will now get the increased value i.e. 1.4435, which means he purchased at a lesser price, but earned more than that.
The other way to invest and get higher returns is to buy the currency and put it in the fixed deposit account of that country. FD has a bigger return due to higher rate of interest. When the monthly return comes on the deposited money, you can send it to your country to turn it into your own currency. This also gives a huge profit and doubles the money faster. There are many more ways through which currency or Forex trading can become a place of benefit for investors. Any versed financial adviser can give detailed information on that.
All the above options are among the most promising choices to invest and earn big, in fact HUGE. Explore the details of these options and you can surely get to know more ways of earning profit in these fields. For sure, the sky is the limit and you can keep exploring the other investment choices to increase your income. ALL THE BEST WITH YOUR PLANS and do not forget to be wise and patient while making any decision.