Crypto Investing
17 Nov 2020

5 Best Ways To Invest & Make Money Daily

Farheen Shaikh

Tired of living on a month on month pay-check?

Let’s face it, with the pandemic in full swing; even your salary may not be guaranteed.

What if I told you that there are other ways to make money every day while keeping your daily job?

Don’t get me wrong; this isn’t some get-rich-quick scheme. 

Making money daily through your investments need not be very complicated. It is totally doable and allows you to create your financial freedom by earning money from investments daily. 

So, let me give you what you are here for, the five ways to invest and make money daily:

1. Day Trading in the Stock Markets

Day trading in stocks is one of the most popular ways to invest and make money daily. It is similar to investing in stocks; the only difference is that you buy and sell your stocks within the same day.

How does it make a difference?

The stock market is highly volatile; while some investors may look at it as a disadvantage, you can use it to your advantage in day trading. Since the stock prices tend to go up and down every day and sometimes every minute, you can earn good profits just by 

Knowing when to hold and knowing when to fold.

Though the volatility is an upside here, traders often face a high risk of loss. If you are planning on day trading, be sure to set up a stop-loss limit order. By directing your buy and sell at a specific price, you can limit loss exposure.

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2. Index Funds

In essence, Index funds are to day trading, what Mutual Funds are to stocks. Meaning, they are at lower risk and consume less time than day trading.

An index fund is a Mutual Fund or Exchange-traded funds (basket of securities traded in an exchange) with some preset rules to track the underlying basket of investments.

These rules identify the best businesses suited for the fund, thus eliminating portfolio management or analysis.  As if that is not enough, these funds allow passive investment and daily income generation. 

3. Commodities & Futures Trading

Trading in commodities is one of the most common ways of generating profits, given that you have extensive knowledge of the market and capital availability.

Commodities such as coffee, tea, gold, silver, cotton, etc are traded extensively in commodity exchanges.

But here is the deal, you have to enter into a futures contract stating that you will buy or sell the commodity at a future date at a specified price. If the price is higher than the price at which it is sold in the market, you get to make profits.

This is, however, a risky undertaking and takes thorough research and knowledge for one to succeed. 

4. Cryptocurrency Trading

Cryptocurrency is a digital currency that made its debut entrance just a decade ago. They are being used as a medium of exchange, as well as a store of value. Since its inception, it has yielded multiple fold returns for its investors.

Crypto trading involves trading on its price movements. Cryptocurrencies are highly volatile, and that is what you have to use to your advantage. Cryptocurrency traders buy a cryptocurrency, let the volatile market drive its price up to immediately sell for a profit in a short period.

To get started, you can open an account with a secure platform like CoinSwitch Kuber. You need to sign up and provide KYC, which will totally take less than seven minutes. 

Trading in cryptocurrency can generate money every day, especially if you study the market carefully and use the feature of limit orders. 

But let’s not forget that the market is highly volatile and your decisions should be in consideration with your risk appetite.

5. Forex Trading

Forex or foreign exchange deals with trading in international fiat currencies such as USD, EUR, INR, etc.

It plays a crucial role in the supply, demand, and price discovery of fiat currencies.

Just like day trading, you can buy or sell a specific currency based on your research on where the value is headed. If you think that a currency will rise in value, you can buy it and vice versa. 

Here is how it goes:

Indian Exchanges such as BSE and NSE allows you to trade in Forex legally. Forex trading can be done online and daily, making it a suitable option to earn money every day.

Learn more about how Forex is different from trading cryptocurrencies like Bitcoin here.

Is It A Good Idea to Invest For Daily Income?

If you ask me, Of course, it is a good idea to invest and earn a daily income! And it is okay If you want to buy and sell quickly and make a small profit in a short time.

At the same time, you should also bear in mind that making money every day is a skill, and it takes time to develop skills.

You need to have a thorough understanding of the market, the risks involved in trading in different assets and the capital that you are willing to put in. And the experience will only get smoother as you master the skill.

So happy investing !!

[su_note] KuberVerse is an educational initiative. Anything expressed here directly or indirectly is not investment advice. And we ask you to do your own research before investing. [/su_note]

Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.

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Farheen Shaikh

Content Writer

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