The gig economy has been rising and expanding at a quick rate through the past years. These days, it is easy to find several ways to make money online, from selling knickknacks on Etsy to delivering Uber orders. Most people can launch a new business using just their laptops.
Although the abundance of gigs makes it easy to start side hustles, not every opportunity yields results. You’ll also come across shady, high-risk ventures. To ensure that you don’t fall victim to them, we, at casinous online casino, will explain four overhyped side hustles that will likely waste your time and money.
1. Paid Freelancing Platforms and Gigs
Newbies tend to struggle with prospecting. Most find themselves lost on where to find clients or stuck with low-paying gigs. And the longer they’re unemployed, the more desperate they get. Unfortunately, scammers lurking around freelancing websites use seemingly profitable offers to trick them into doing unpaid work or divulging personal information.
Although you might feel compelled to jump at the first offer that comes your way, please exercise caution. Stay away from anything unusual. Legitimate job offers will never require upfront investments, several days of unpaid sample work, or confidential data, courtesy of wolf winner casino.
As a general rule, stick to legit freelancing sites. There are thousands of freelance opportunities online. Searching for the keyword “blog” on Upwork will already show 7,700+ gigs. You’ll likely find millions of other listings on similar well-known freelancing websites and platforms.
Anyone who has shown even the slightest interest in e-commerce has likely heard of dropshipping. The concept became a trend in the past decade. It’s a retail fulfilment method wherein your supplier ships items to your customers directly, thus eliminating the need for product inventory. In theory, sellers could list thousands without ever keeping stock.
Although dropshipping is a legit business model, many newbies underestimate its complexity. Starting a successful store takes years. Contrary to what fake “gurus” claim, a generic Shopify store with random items from Aliexpress won’t make you thousands a month.
Think about dropshipping from your customers’ point of view. If you saw an e-commerce site aggressively marketing random generic products that take weeks to deliver, would you feel inclined to buy? The answer: probably not.
You need several skills to succeed in e-commerce, including copywriting, marketing, graphic designing, and accounting. Product sourcing alone won’t create a profitable store.
3. Paid Surveys
Answering paid surveys is widely recommended as a side hustle. It has low barriers to entry. As long as you have a mobile phone and internet access, you can start earning on most survey sites like Swagbucks, Survey Junkie, and Branded Surveys.
Yes, legit Get-Paid-To apps pay users for answering surveys, but the earnings won’t amount to much. Try signing up for them. Even the most widely known sites only pay around $0.50 to $1.00 per 15- to 30-minute survey.
Also, you can only answer a limited number of surveys. If you max out your account and answer everything available, you’ll average around $1 to $5 a day. Spend your time on another more lucrative, worthwhile side hustle.
4. Crypto Trading or Investing
The cryptocurrency market has significantly grown. Statista records show that sector revenues might hit $43.5 billion in 2023, further advancing the mass adoption of crypto. Now’s a great time to position yourself in the market.
With that said, buying crypto without proper research yields negligible results. The industry is brimming with scammers and cybercriminals. You’d do well to educate yourself on trading and investing strategies, or else you’ll fall victim to various crypto scams.