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Tools for Making Money on the Internet
by Christopher Hundley
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Overview
You have no doubt heard of work-from-home opportunities. It is equally likely that you have seen many of these work-from-home opportunities exposed as frauds. Yet there are many tools out there for you to make substantial part time or even full-time income on the Internet by retailing, consulting, affiliate marketing, peer-to-peer lending, domain parking, website flipping, securities trading or freelance work.
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Retailing
One of the most well-known methods of making money online is selling goods on eBay. The auction site has provided many dedicated sellers a full-time income. Whether you are trying to raise quick cash by liquidating your own property, or you are looking for a vehicle to offload inventory, consider eBay, or other online auction sites, such as Overstock or uBid.
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Consulting
A number of websites, such as LivePerson, allow you to offer real-time consulting to businesses and individuals through instant messaging software.
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Affiliate Marketing
Another well-known online money-making vehicle, deriving revenue from advertising on your website or blog, can provide a steady source of revenue as long as you have substantial daily page views, and regularly update content.
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Peer-to-Peer Lending
Firms such as Prosper and Lending Club allow users to make unsecured loans to individual borrowers based on their credit history, income and other factors, in exchange for a percentage of the interest. Lenders can receive rates between 8 percent and 155 percent or higher depending on the credit risk of the loan. Both of these firms are registered with the Securities and Exchange Commission.
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Domain Parking and Website Flipping
Domain parking involves purchasing domain names from registrars or resellers, such as GoDaddy, that have high traffic potential in the hopes of reselling the sites to web developers or other speculators for a higher price. Firms such as WhyPark will build websites around your unused domains, complete with affiliate marketing links, in exchange for a percentage of the advertising revenue generated.
You can buy websites on sites such as eBay, refurbish them with new content, optimize them for search, and potentially resell the site in a few months for a higher price.
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Securities Trading
Buy and sell securities such as stocks and bonds on websites such as ShareBuilder and eTrade. Buy and sell currencies and commodities on websites such as Forex.
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Freelance Work
Websites such as Demand Studios allow you to earn an income through the sale of articles, copy editing, and other services. Photographers can sell their photographs on microstock photography sites such as iStockPhoto. And websites such as Elance or Guru provide freelancers with a variety of opportunities.
