Our smartphones can do many things and even earn money. This year, Nigeria has suffered a blow, as COVID-19 disrupted conventional economic relations and systems. Here are alternative ways of money-making that may come in handy. Why not use all of them?
Get Paid for Tasks or Content
The SquadRun app pays you for doing tasks. It gives you missions to complete and rewards you with points, rather than direct cash. You may transfer these to your account in the Paytm system. Â
Through FOAP, you may sell your photos in a specific online market. Registration is free, and you need to upload pictures to the FOAP system. Do you think you have a talent for photography? Potential buyers will evaluate your work and buy it if they are interested. On average, a user may receive up to $5 per shot. All payments are processed via PayPal.
CrownIt was created to promote offline businesses. Today, restaurants, spas, and other establishments use it. You may upload your bill after a visit to these companies, and get cashback. You may use the latter for different purposes like online shopping, or movie tickets.
Get Paid for Ads or Apps
This Slidejoy app pays you for looking at promoted content. Basically, it will replace your lock screen image with an ad. Every advertisement you see earns you specific points called Carats. Accumulate 1000 of these to get $1. Users may cash in every 15 days — all payments are processed via PayPal. At the moment, the system only works on Android devices.
Finally, mCent pays you for installing other apps on your smartphone. Installations bring you points that you may use for different services like recharging a prepaid number. Users may also benefit from viewing video ads. Finally, you may also invite other people to join and get a referral reward.
Trading Markets OnlineÂ
All of these systems work, but they can hardly bring you much. Moreover, making a substantial profit will take ages, if it is even possible at all. That explains why online trading through the MetaTrader 4 app is so wildly popular in South Africa and abroad. Users may start with a small investment (even $10), and gradually create a diverse investment portfolio that brings sizable returns.
Why is forex so popular? First, anyone can master it. You will need strong analytical skills and profound knowledge of the market, but it is nothing superhuman. It is even possible to delegate decision-making to experts known as strategy managers.Â
A passion for forex will allow you to achieve consistent profits and even start a career in finance. This occupation is impressively flexible. Through ForexTime, you may trade currencies part-time or full-time.
Smartphone apps for trading are diverse, but most brokers recommend generic systems like MetaTrader 4 or MetaTrader 5. Millions of retail traders around the world use these mobile versions of desktop terminals. There are also unique products developed specifically for brokers. For example, the FXTM Trader app was designed for clients of the global brand. It gives access to over 250 financial instruments.
How to Become a Trader
You can learn to trade forex and even practice in the trading terminal for free. Demo accounts are simple to register — only fill in a basic contact form on a brokerage site. Be careful with the choice of your provider, though. The South African forex market is fairly regulated, so you should look for companies with an official license.Â
Aside from the FSCA (the Financial Sector Conduct Authority), the FCA in the United Kingdom, the CySEC in Cyprus, etc. may authorise an international broker. Regulated companies comply with industry norms, so they protect their clients’ funds and rights.
Use your app in the demo mode to see how it works, and to apply theory to practice. Generally, you should be able to analyse the market, open, edit, and close trades, contact support and manage your account from a single app. Forex education must be taken seriously, as trading is risky like any form of investment.
To succeed, users need a solid strategy (you can choose from a wide range of ready-made systems), attention to detail, emotional control, willingness to learn, and perseverance. The longer you trade — the easier it gets. Decisions are made based on fundamental or technical systems of analysis, so find out about both.
Earn Money from a Smartphone
Today, there is a wide range of money-making apps, but few of them can show spectacular results. Getting paid for ad viewing or company ranking is viable, but rewards are meagre. To earn big, consider getting a trading app and learning to capitalise on financial trends.
