The internet has given birth to several new and exciting investment opportunities. Here are just three ways in which you can invest your money digitally.
In 2008, a digital currency known as Bitcoin was invented, largely created as a universal currency to help companies trade internationally without having to pay currency transfer fees. Soon after Bitcoin was introduced, a number of other companies formed their own cryptocurrencies. Nowadays, there are countless cryptocurrencies on the market, each with their own value. They have become an exciting new asset to trade – last year saw Bitcoin rising dramatically in value and other currencies have since done the same.
It’s easy to buy and sell cryptocurrency online – there are many sites set up for doing this and blogs that can offer advice on when and where to buy and sell it. New cryptocurrencies such as Digitex are constantly being introduced. Unlike many other forms of investment, cryptocurrency can be difficult to predict and many old-skool investors see it as too much of a gamble. That said, you don’t have the high minimum contribution that you may find with other investments – you can get involved with as little as $10.
Domain names are another digital asset that has become popular amongst investors. It’s possible to buy domain names cheap and sell them for a greater value to buyers. Some domain names can sell for hundreds and even thousands. In fact, the most expensive domain name, Insure.com, sold for $16 million dollars.
Many domain name investors will buy lots of domain names for a cheap amount in the hope that one of them is desirable in the future. Others will strategically buy domain names such as single words and phrases that people may want to buy in the future. There are many hosting sites such as GoDaddy for buying domain names – many of these can be bought very cheaply.
Peer to peer lending is a means of making money through online loans. Specialist peer to peer lending sites such as Lending Stream allow you to lend money to people looking to borrow some cash. They then pay this money back to you in instalments with interest attached. This interest can allow you to make a small profit in the long run.
You can lend as little or as much as you want and you can choose who you lend to based on the cause you believe in. Unlike many other forms of investment, peer to peer lending is a guaranteed way of making a return, providing you go through a secure site that is regulated (if someone borrowing your money falls behind on payments, these sites can help to retrieve this owed money or pay you compensation if this isn’t possible). Some peer to peer lending sites may have small fees for joining, but otherwise there are no extra charges.