Passive income has gained massive interest in recent years as more people wish to earn money in their sleep. Unlike active income where you exchange time for money, passive income is a good way to build multiple streams of income and earn money without additional effort.
But how easy is it to get started? The most common passive income ideas revolve around eBook publishing, affiliate marketing, starting a YouTube channel, or selling online courses. These may be a bit technical for most people and require massive effort to set up.
What if I told you that you could earn money with apps on your phone? The problem is that there are so many apps for passive income that promise to earn you money instantly. So, how do you know the legit ones that pay real money? Worry not. We did the research so you don’t have to. Read on to learn the ten best passive income apps to earn you passive income effortlessly.
10 Best Passive Income Apps
When looking for apps for passive income you need to know that they may not be 100% passive. You need to invest some effort and time before you can start earning. Some may involve sharing your opinion or earning cashback when you shop online. But this is way easier than other passive income ideas like starting a YouTube channel or blog. Let’s look at the best apps for passive income to start earning extra cash today.
1. Fundrise
Fundrise is among the best passive income apps because it helps you earn passive income investing in real estate without fully raising the full amount to own properties. You can invest as little as $10 on office buildings, hotels, rental properties, or commercial properties.
Once you invest you don’t need to do anything else. This is an idea for you if you wish to invest in real estate but don’t have adequate funds for a down payment. You will start earning dividends depending on your investment which you can withdraw to your bank account or reinvest in more properties.
- Pro: Earn a passive income from annual dividends with minimal investment starting from $10.
- Con: Needs patience since the longer you invest the more the returns. You need to commit one to six years
2. Ibotta
Ibotta is one of the best passive income apps where you can earn instant cash back when you purchase items you regularly use. You can earn up to 30% cash back when you shop on Home Depot, Best Buy, eBay, Walmart, QVC, and Hotels.com.
All you need to do is get a receipt when you make a purchase and then submit it to Ibotta. As long as you only buy stuff you need, then Ibotta is the best app for passive income.
- Pro: Earn rewards when you purchase items online within 24 hours.
- Con: You have to shop to earn money.
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3. M1 Finance
One of the best ways to earn passive income is by investing in stocks. M1 Finance passive income app helps you earn from dividends. The minimum investment is $100 and you can choose the time you want to commit your investment.
- Pros: You don’t need to pay commissions or brokerage fees.
- Cons: The returns are not 100% guaranteed because of volatile stock market changes.
4. Shutterstock Contributor
Turn your love for photography into passive income by selling photos on Shutterstock. This is one of the best passive income apps for photographers and visual artists from wherever you are. All you need to do is upload high-quality images to the app and earn when customers buy your images.
- Pro: earn passive income as you do what you love.
- Con: You need a high quality camera and excellent skills, upload a lot of images, and wait for customers to buy.
5. DoorDash
DoorDash is one of the highest-paying passive income apps that can make money online with simple tasks. The truth is, that DoorDash is not 100% passive income because you have to deliver food orders.
But the thing is you can earn money if you regularly eat out by delivering takeout to people within your neighborhood. If you go shopping, pick an order to deliver and make money as you go back home.
- Pro: Set your own schedule and earn money as you run your usual errands.
- Con: It is not 100% passive.
Related Article: 11 Best Passive Income Ideas For College Students
6. Drop
Drop cannot miss in the list of the best passive income apps for shopaholics. Get rewarded when you buy your regular weekly grocery shopping, pay for Uber or Starbucks, or shop at Sephora, Nike, or Adidas.
All you need to do is install the passive income app, link your credit or debit card, shop at your favorite brands, and earn points then get instant rewards or gift cards you can use to buy items on Amazon, Walmart, Uber, or Starbucks. Furthermore, you can earn through playing games or completing surveys in your free time. How cool is that?
- Pro: Get cash back when you shop online
- Con: Only available in Canada and the US. You also need a minimum of 5000 points to cash out.
7. Mainvest
If you always wanted to invest in business but don’t want to spend much time managing them yourself then Mainvest is ideal for you. It makes it possible to invest in small businesses and earn passive income from their returns with just as little as $100.
Some of the businesses you can invest in include bakeries, restaurants, and stores and get 10-25% annual revenue share.
- Pro: it is free to sign up and invest with as little as $100.
- Con: It is a long-term investment with a maturity of about 5-7 years.
8. Google Opinion Rewards
Did you know you can earn passive income on the Google Play Store with the Google Opinion Rewards? All you need to do is to fill out surveys and questionnaires based on the apps you use on your devices, or the videos you watch. The reason why it’s one of the best passive income apps is you earn as you do what you’d do anyway by sharing your opinion.
- Pro: Get rewarded on tasks you would do either way.
- Cons: The app is not available in some countries. Also, you cannot withdraw the cash unless you use it to purchase books, music, and apps.
Related Article: 10 Best Passive Income Ideas for Teachers to Make Money Online
9. Honeygain
Honeygain is one of the best passive income apps to help you earn effortlessly by sharing your internet. It offers a great way to earn money by sharing your unused internet data or by sharing the apps with your friends and family.
- Pros: earn cash instantly by sharing their internet (not gift cards).
- Cons: It may be uncomfortable to share your internet data.
10. Rakuten
If you are a shopping enthusiast Rakuten will give you cash back at over 3,500 stores. All you need to do is sign up for free and get rewarded every time you shop at Walmart, Target, Nike, and other popular major retailers.
- Pro: Get a $10 bonus when you sign up.
- Con: You need to shop to earn rewards.
FAQs
- Which app gives real money easily?
Some of the best passive income apps that will pay you real money instantly include Rakuten, Ibotta, and Honeygain.
- What is the highest paying passive income app?
Some of the highest paying passive income apps include Honeygain, DoorDash, Drop, and Google Opinion Rewards.
- Which is the fastest earning app?
If you want to earn money fast try Rakuten, Drop, or Ibotta apps which give you cash back when you shop online.
- What is the most trusted money making app?
Some of the most trusted money making apps include Rakuten, Fundrise, Mainvest, and DoorDash.
Final Thoughts
Apps for passive income give a better option to earn money without too much effort. However, they will not make you earn a million dollars overnight. You need to invest time and effort to increase your income and start earning passive income. Did you try any of the best passive income apps above? Which one did we miss on the list? Share your favorite passive income apps in the comments below.
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