In today’s digital age, there are countless opportunities to generate passive income using smartphone apps. Whether you’re looking to supplement your income, save for a specific goal, or build long-term wealth, there’s an app for that. In this article, we’ll explore 16 of the best passive income apps that can help you earn extra money with minimal effort.
1. Worthy Bonds - invest in bonds
Worthy Bonds is a fintech platform that offers an innovative way for individuals to earn passive income through bond investments. With a minimum investment of just $10, users can purchase Worthy Bonds, which are small business bonds with a fixed interest rate of 5% per annum. These bonds are used to fund loans to creditworthy small businesses, allowing investors to earn a steady stream of interest income while supporting entrepreneurial ventures. The platform offers liquidity, as bonds can be bought or sold at any time through its integrated marketplace. Worthy Bonds provides an accessible and low-risk investment option for those looking to diversify their portfolio and generate passive income while helping small businesses grow.
2. Fundrise - invest in real estate
Fundrise offers several benefits for individuals seeking to earn passive income through real estate investment. Firstly, it provides access to a diversified portfolio of real estate assets, including residential, commercial, and industrial properties, allowing investors to spread risk across different sectors. Additionally, Fundrise utilizes a technology-driven platform that reduces traditional investment barriers like high fees and large upfront capital requirements. Investors can start with a relatively small amount of money and enjoy lower management fees compared to traditional real estate investments.
The platform also offers a hassle-free experience by handling property management, tenant relations, and asset selection, saving investors time and effort. Moreover, Fundrise generates passive income in the form of dividends and potential capital gains as properties appreciate over time, all while providing a transparent and user-friendly interface to monitor investments. Overall, Fundrise offers an accessible and diversified way to earn passive income through real estate, making it an attractive option for both beginner and experienced investors.
3. Rakuten - get cash back
Rakuten, formerly known as Ebates, is a cashback platform that enables users to earn passive income while shopping online. By shopping through the Rakuten portal or using their browser extension, users can access cashback rewards and discounts at thousands of partner retailers. When a purchase is made through Rakuten, a percentage of the total purchase price is credited back to the user’s Rakuten account, effectively providing them with cashback on their online shopping. With a vast network of partner stores and a user-friendly interface, Rakuten offers a simple and hassle-free way to earn passive income while engaging in regular online shopping activities. Over time, these cashback rewards can accumulate, providing users with a reliable source of passive income.
4. Sweatcoin - get paid to walk
Sweatcoin offers a unique way to earn passive income by rewarding users for their physical activity. The app tracks steps and outdoor exercise, converting them into “Sweatcoins,” a digital currency. Users can redeem these coins for various rewards, including fitness equipment, gift cards, and even PayPal cash transfers. So you get paid to walk, an excellent way to make money!
Sweatcoin effectively turns fitness routines into a source of passive income, motivating users to stay active and healthy while earning tangible rewards. While the income potential is relatively modest, it provides an innovative and motivating approach to passively monetizing your fitness efforts and encouraging an active lifestyle.
Tapestri app offers a unique opportunity to generate passive income by leveraging the power of your data and online presence. By connecting your social media accounts and allowing brands access to your anonymized data, you can earn rewards and cashback for your online activity, such as sharing your preferences or engaging with sponsored content. The benefits include the ability to monetize your digital footprint without intrusive ads or invasive data practices, offering transparency and control over how your data is used.
Tapestri also encourages responsible data sharing, ensuring user privacy while providing an avenue to earn passive income effortlessly. Overall, Tapestri empowers users to turn their online presence into a valuable asset, offering a seamless and privacy-conscious way to earn rewards and cashback passively. Going one step further, Tapestri also allows users to earn by tapping on ads, taking surveys, and playing games.
Honeygain is a unique passive income app that allows users to earn money by sharing their unused internet bandwidth with a global network. After installing the app, it runs in the background, renting your excess bandwidth to data researchers, businesses, and organizations. In return, you receive compensation based on the amount of data shared. Honeygain operates seamlessly and doesn’t interfere with your regular internet usage.
While the earnings may not be substantial individually, they can add up over time, providing a hassle-free and truly passive way to monetize your internet connection. It’s an innovative way to turn your idle resources into a consistent source of passive income.
Swagbucks is a popular rewards platform that allows users to earn passive income by searching the web, among other things like watching videos. Swagbucks offers a simple and convenient way to monetize your free time and internet usage by turning these activities into a source of passive income. While the earnings may not be substantial individually, they can accumulate over time, providing users with a tangible return on their online engagement. It’s a user-friendly and accessible platform for those looking to earn a little extra money with minimal effort.
8. OnMyWay - get paid to drive safe
OnMyWay offers a passive income opportunity by rewarding users for safe driving habits. The app tracks users’ driving behavior, offering monetary incentives for refraining from using their phones while driving and for maintaining a safe speed. Users can accumulate cash rewards, which can be redeemed through the app or transferred to their PayPal account. OnMyWay encourages responsible driving while offering users a simple way to earn passive income for adhering to safety guidelines on the road. It’s a win-win, promoting safer driving practices while providing users with a tangible financial benefit for their commitment to safety.
Acorns is a user-friendly financial app that helps individuals generate passive income through micro-investing. By linking your debit or credit cards to the app, Acorns rounds up your everyday purchases to the nearest dollar and invests the spare change into a diversified portfolio of Exchange-Traded Funds (ETFs). This effortless and automated approach turns small transactions into potential investment gains.
Users can choose from different portfolio options based on their risk tolerance and financial goals, making it accessible for both conservative and aggressive investors. Over time, as your investments grow and compound, you can earn passive income and potentially build a significant nest egg, all without the need for active investment management.
Masterworks is an innovative platform that democratizes the art investment world by allowing individuals to invest in high-value artworks typically reserved for the wealthy elite. The benefits of Masterworks are manifold: it provides access to a historically stable and appreciating asset class, diversifies investment portfolios with an uncorrelated asset, offers the potential for long-term capital appreciation, and generates passive income through profit-sharing when artworks are sold. Additionally, Masterworks handles all aspects of art acquisition and management, including insurance, storage, and expert curation, making art investment more accessible and hassle-free for a broader range of investors. Overall, Masterworks presents a unique opportunity to participate in the art market, historically known for its exclusivity, as a means of building wealth and diversifying investment portfolios.
The Trim app offers a passive income opportunity by helping users save money on their regular bills and subscriptions. By linking your financial accounts to Trim, this AI-powered app analyzes your spending habits and identifies potential cost-saving opportunities. It can negotiate lower bills for services like cable, internet, and even your monthly subscriptions. Trim also helps you identify and cancel unused or unnecessary subscriptions, ensuring you’re not overpaying for services you no longer need. The app’s passive income potential lies in its ability to put more money back into your pocket by reducing your regular expenses without requiring active effort or complex negotiations.
12. Airbnb - rent out your place
Airbnb offers a passive income opportunity by allowing property owners to rent out their homes, apartments, or spare rooms to travelers. Hosts can list their properties on the platform and set their own rental terms, including pricing, availability, and house rules. Airbnb handles the booking process, payment collection, and provides insurance coverage, simplifying the rental process for hosts. Travelers can browse listings, book accommodations, and review their stays, enhancing host credibility. Over time, Airbnb can become a source of passive income as hosts earn rental income without actively managing the property, all while sharing their space with travelers from around the world.
To make money with Getaround, individuals can list their personal vehicles on the platform for short-term rentals. After signing up as a Getaround host, owners can use the mobile app to set the availability, pricing, and rules for their vehicles. Renters can then browse and book available cars through the app. Hosts earn a percentage of the rental fee, and Getaround provides insurance coverage during the rental period. The key to maximizing earnings involves maintaining an attractive and well-maintained fleet, setting competitive rental rates, and promptly responding to booking requests. This peer-to-peer car-sharing platform offers a flexible way for vehicle owners to monetize their cars when not in use, catering to the growing demand for convenient and cost-effective transportation solutions.
Neighbor provides an opportunity to earn passive income by renting out your underutilized storage space, such as a garage, attic, or spare room, to individuals in your community in need of storage. The platform allows you to list your space, set rental rates, and connect with renters in a hassle-free manner. Neighbor handles the payment processing, insurance, and rental agreements, making the process seamless for both hosts and renters. By leveraging your available space, you can generate consistent passive income without much ongoing effort, while those in your community gain access to affordable and convenient storage options. It’s a straightforward and mutually beneficial way to monetize your unused space and contribute to your passive income stream.
15. Swimply - rent out your swimming pool
Swimply offers an opportunity to earn passive income by renting out your private swimming pool to individuals seeking a refreshing swim. As a pool owner, you can list your pool on the platform, set your availability and pricing, and connect with guests looking for a place to swim. Swimply handles the booking process, payment transactions, and insurance coverage, ensuring a hassle-free experience for both hosts and guests. This innovative platform allows pool owners to monetize their underutilized space, transforming their pool into a source of passive income during the swimming season. Whether you have a backyard pool or a larger aquatic facility, Swimply offers an accessible way to generate extra income with minimal ongoing effort. Swimply has recently expanded to allow users to also rent out spaces like basketball courts, tennis courts, pickleball courts, and backyards so there are more ways to make money!
16. Outdoorsy - rent out your RV
Outdoorsy offers a platform for individuals to earn passive income by renting out their RVs, campervans, and motorhomes to travelers and outdoor enthusiasts. By listing your recreational vehicle on the platform, you can generate rental income during times when you’re not using it, effectively turning your RV into a source of passive income. Outdoorsy provides comprehensive insurance coverage, secure payment processing, and a user-friendly booking system, making it easy to manage your rentals. With a growing community of renters and a steady demand for outdoor adventures, Outdoorsy offers a hassle-free way to monetize your RV and enjoy passive income while sharing your love for the great outdoors.
Conclusion
These 16 passive income apps offer diverse opportunities to earn extra money with minimal effort. While they won’t make you rich overnight, when used strategically, they can help you achieve your financial goals, whether it’s saving for a vacation, building an emergency fund, or investing for the long term. By combining several of these apps, you can create a diversified portfolio of passive income streams that gradually increase your financial security and provide extra money in your pocket.
