How to make money online in Germany

10 ideas how to make money online in Germany for beginners

TU experts will explore a wide range of profitable online opportunities and then present the top 10 suggestions for making money online for novices and veterans in Germany. So carefully examine each option to learn what opportunities and possibilities it provides.

1 Share your social media skills

With billions of social media users and different social media marketing apps, you can earn enough money to cater to your needs while in school. Writing content for brands on social media is a lucrative endeavor if you have a knack for language and are analytical.

Digital marketing relies heavily on social media platforms like Facebook, Twitter, and Instagram. Thus, there is a rising need for creative, forward-thinking, and analytical professionals to carry it out.

You can also use the type of content you post on your social media account to attract users' attention and establish yourself as a social media influencer.

Influencers on social media can make money by working with brands, collaborating, and starting their own businesses.

2 P2P lending

If you think you have enough money for investing, engaging in P2P lending is an excellent way to make money in the financial market. P2P lending offers people the opportunity to lend money to individuals or businesses. As the lender, you can profit by receiving interest as you get your money back when the loan is repaid. There is risk involved, so you need to be aware of the risk. There are websites that you will use that will serve as an intermediary between you and the borrower. How to get started with P2P lending? To get started, compare P2P brokers and find the one you feel comfortable with. Then open an account with the P2P lender and pay in some money with your debit card or direct transfer. Set the interest rate you'd like to receive or agree with the rates they offer. Then proceed to lend an amount of money for a fixed period, for example, three or five years. Depending on the period you are willing to wait, you can make between 5.99% to 35.99% as of December 15, 2022.

3 Crypto staking

Staking is a popular strategy to generate passive income from your cryptocurrency investment. Staking allows cryptocurrency owners to put their digital assets to work and make money passively without selling them out. Staking is the crypto equivalent of placing money in a high-yield savings account. Then the bank lends the money out or uses it for business. You will then receive a percentage of the interest gained by lending in exchange for leaving the money in the bank. The profit is usually a very small portion.

Similarly, you lock your coins to blockchain security when you stake digital assets. In exchange, you will receive a reward calculated in percentage. These rewards are usually higher than the bank's interest rate. You need to compare the different crypto-staking platforms out there. Not all crypto supports staking, only those that validate the transaction with POS (Proof of Stake). Examples include Ethereum (ETH), Cardano (ADA), Solana (SOL), Polkadot (DOT), etc.

The benefits include no need for equipment for crypto staking like in crypto mining. It is an easy way to earn interest on your cryptocurrency holdings. The risk involved is that crypto prices are volatile and can drop quickly, which can outweigh any interest you gain from them. You can make up to 10% - 20% from it yearly.

4 Forex trading

Forex trading has to do with exchanging one currency for another for trading purposes. Currencies are traded in pairs. Thus by exchanging one for another, a trader speculates on whether the value of one currency will rise or fall. To engage in Forex trading, you need a broker to act as an intermediary between you and the Forex markets because trading the markets requires large sums of money, which you may not have. So with brokers like RoboForex, FXTM, IC Markets, Exness etc., one can trade from the comfort of their home. The risk involved can not be overemphasized. Like cryptocurrency investing, Forex markets are so volatile that you will be giving your money to the markets if you don't have the right skill and experience. So take your time to learn and acquire the skill to trade Forex before you begin trading. One can make a huge profit from Forex trading, but you always want to consider the risk involved.

5 Writing white papers

Writing white papers is also a means of earning money online. A white paper is a thorough research study on a specific issue that will provide a solution to an industry problem that a person or company usually writes about. Its purpose is to persuade readers through in-depth analysis that a particular solution to a problem is best. It is usually written to an audience outside the industry. So a company can hire you to write a white paper for them, and you get paid up to $1,000 monthly. It can be challenging to get a job from these companies.

6 Start a dropshipping business

Dropshipping is a retail fulfillment method where a store doesn't keep the products it sells in stock. Instead, when a customer makes a purchase, their order is sent to the supplier, who will then ship it directly to the customer. As an entrepreneur using dropshipping, your responsibilities include finding suppliers, marketing your products, and managing your inventory.

7 Test financial websites and apps

Testing websites and applications is another method to generate money online. You get compensated for your opinions on how effectively a website or app functions. Before working, you will have to complete a short test to get accepted then you'll be paid depending on the test type. There are different platforms where you can test websites and apps. They include UserTesting, Userfeel, uTest, Ubertesters, Userlytics etc. you get paid depending on the time you put in. For example, UserTester pays around $10 for 10-20 minutes of work.

8 Monetize Youtube channel

Another medium of making money online is to upload videos to YouTube and monetize them, earning money from YouTube. This is best suited for a social media influencer since you can make content to upload on Youtube. YouTubers make a lot of money. The average rate per ad view is around $0.01 to $0.03, so a Youtuber can earn, on average, $18 per 1000 views.

9 Cashback when shopping

Similar to getting reward points for paying with your credit card, some reward apps give Bitcoin or other cryptocurrency reward cashback to their users when they purchase from certain online stores.

Lolli is a great desktop plugin available for Chrome, and it also has an Android and IOS app that offers its users to get up to 10% cashback in Bitcoin every time they purchase from an online store that partners with Lolli. Lolli partners with hundreds of different online stores which offer different levels of cashback on purchases. This includes well-known retailers such as Macy's, Nike, Rag & Bone, and others.

Pei is another great mobile app that allows you to get Bitcoin cashback when you shop. To use this app, you have to download it and link your debit/credit cards to it. Every time you purchase from one of the over 60,000 physical or online stores that partner with Pei, you will get up to 20% cashback in Bitcoin and also get credit card points. Once your Bitcoin cashback is higher than $15, you can transfer it to your Bitcoin wallet.

10 Become a сlickworker

A Bitcoin faucet is a website or app that distributes tiny amounts of Bitcoin to its users in exchange for them completing simple tasks. The name faucets comes from the fact that these crypto payments are quite small, like drops of water coming from a faucet — but then again, so are the tasks you need to complete for the reward.

So, once you complete the tasks, your tiny share of earned crypto is sent to your wallet. The tasks can vary wildly, but it’s usually simple — stuff like completing a captcha, clicking on ad links, watching videos that showcase different products, and all kinds of other ads.

As an Internet user, you’ve probably heard of similar websites that used to pay dollars for microtasks. However, the catch here is that even the smallest amount of Bitcoin you receive will likely be worth something in the future.

Of course, the only downside is that you have to spend a lot of time on menial tasks in order to get any meaningful amount of Bitcoin.

Is it possible to earn $1,000 per month online in Germany?

Yes. However, the viability of reaching this financial milestone depends on some crucial variables. Your professionalism and skills are the first factors that determine how easily you can earn $1,000 monthly online in Germany. How well you can execute tasks based on your field opens a particular door to higher-paying opportunities.

Again, the specific opportunities available in your chosen industry or field also impact your income. Since some of these jobs pay differently depending on the level of difficulty, your income will depend on the type of work you perform for an online platform or client. Additionally, the possibility of making an extra $1,000 monthly in Germany when you work online requires commitment and time investment, so consistency and dedication are crucial.

Here are three helpful hints for rookies who are learning how to make money online in Germany:

• Research opportunities and ways to make money online in Germany: Some ways to make money online in Germany may require skills you already have or ones you could learn in a short time. So, before you consider what skill to learn or improve, start by determining the opportunities that match your skills and interests in the German online job market

• Learn and develop a skill: Choose your current interests and skill sets as a starting point because you can all increase your chances of career advancement by committing to learning new professions. When you commit to learning something new, you can expand your professional network and increase the breadth of your knowledge. Take your time when taking online courses or attending workshops to develop existing skills or learn new ones, as learning new skills can take time and patience

• Establish reasonable expectations: The road to generating $1,000 monthly may be bumpy. And it's unlikely to happen right away when you sign up for one of the online jobs in Germany. However, by setting realistic and incremental goals to track your progress, you can steadily increase your income as you gain experience and expertise in your chosen field

How to choose the best way to make money online in Germany

Pick a job opportunity that fits your abilities, qualifications, and interests. Your passion for the profession will make the learning curve easier. As a result, the likelihood of you succeeding will rise. Below are other criteria to consider when choosing a way to make money online in Germany.

• Sustainability: Considering future priorities, research the chosen venture's long-term viability. Your chosen career should allow you to fulfill your immediate and long-term needs. So, to sustain a steady stream of income over time, look for opportunities that can adapt to changing market conditions and technological advancements

• Assess the market demand: Since the demand for the services you offer determines how often they will be required, which means more funds, analyze the German market's demand for the chosen industry or service. To guarantee a steady stream of income, choose products or services where demand is increasing or stable

• Initial investment and earning potential: Analyze the chosen path's earning potential and calculate the up-front expenses related to the chosen strategy. While some options may only require a modest initial investment, others may require a sizable upfront investment to have a higher earning potential. By contrasting the income potential with your financial objectives and expectations, ensure your budget is in line with the course you have chosen

German citizens can raise their chances of success in the online income market by weighing their options and paying attention to these factors. Among the easy ways to make money, Forex copy trading and investing in stocks while adhering to these factors can be profitable. While investing in stocks can increase your income potential, owning stock in several companies can help you increase your savings and shield your money from taxes and inflation.

You can also be interested in information about Forex Trading Tax In Germany read the Traders Union article.

How to spot and avoid online scams in Germany

While learning how to make money online in Germany, identifying how to spot and avoid online scams is a top risk management move. Spotting and avoiding online scams is essential to safeguarding your finances and personal information.

To help you recognize and avoid online scams, TU experts say:

• Traders should be cautious of unsolicited messages, emails, or advertisements promising quick and easy money. Check for official websites and contact information to verify the source and legitimacy of offers or opportunities

• Read reviews, endorsements, and comments made by users of the platform or service before participating in any online opportunity

• Since trustworthy organizations will not request your passwords, bank information, or other sensitive information through unsolicited emails, avoid disclosing sensitive personal or financial information

• When conducting transactions online, use secure and reliable payment methods

Best Forex Brokers in Germany

1

9.4/10

Go to broker

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest.

Minimum deposit:

$50, $100 (for UK clients)

Bonus for deposit:

0%

Regulation:

CySEC, FCA, ASIC

Review

The eToro broker was founded in 2007. The company promotes itself as a social trading platform working with traders from over 140 countries. The broker has several divisions operating under different jurisdictions and licensed by different regulators. For example, eToro (Europe) is licensed by the Cypriot regulator CySEC (109/10) and eToro (UK) is licensed by the British regulator FCA (583263). The broker also has a representative office in Australia and the USA. eToro Profile Details

Pros/Cons

•the minimum transaction amount for copying is $1;

•handy functionality for passive investing;

•regulated by independent monitors;

•it is possible to purchase contracts for fractional shares (that is, to invest amounts less than the cost of one share);

•it is possible to buy shares at once (not CFDs) on the US stock exchanges.

•high spreads;

•periodic technical failures in order execution;

•lack of the most popular platforms such as MetaTrader 4 and MetaTrader 5 in Europe and the CIS;

•no access to ECN systems, orders are processed only according to the STP (straight-through processing) scheme with access to specific liquidity providers;

•there is a commission for withdrawing funds;

•impolite support staff;

•inconvenient website.

Study Review

2

9.2/10

Go to broker

Your capital is at risk.

Minimum deposit:

No minimum

Bonus for deposit:

0%

Regulation:

FSC (BVI), ASIC, IIROC, FCA, CFTC, NFA

Review

The name OANDA is an acronym for “Olsen & Associates” or “Olsen AND Associates”. It is registered in the United States and provides its clients with a wide range of financial services in most countries of the world. The company was founded in 1996 and is currently regulated in four jurisdictions. The main regulator of the broker is the UK Financial Conduct Authority (FCA). Oanda Canada is licensed by IIROC. The company has several significant awards to its credit, including a victory in the category "Best Forex Trading Technologies" from the UK Forex Awards, "Best Trading Platform" from FX Week, as well as "Best Customer Service" from the US Foreign Exchange Report.

Pros/Cons

•Minimum deposit from 1 dollar.

•A large selection of the most popular trading instruments.

•Several reliable and reputable financial regulators.

•Inconvenient and poorly functioning site.

•Lack of cent accounts.

•Lack of bonus programs.

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