How To Make Money Online In Pakistan

Top 10 ideas how to make money online in Pakistan for beginners

Navigating the vast landscape of online income opportunities can be overwhelming, especially for beginners in Pakistan. TU experts present a concise review outlining the top 10 ideas to kickstart your journey toward making money online.

Offer freelance services

Freelance writing is a fun way to make money doing what you love. It’s one of the most popular work-from-home jobs that can allow you to make a decent income online. The best part is that you can get hired by different companies to create content and build a business out of the hustle, all from the comfort of your home. There’s a chance to get paid $20 per hour and more to create blog posts and articles for brands and websites.

Investing in stock and bonds

Investing in stocks and bonds is also another way of making money online. You can buy company stock and leave it for a considerable time, then sell it in the future with a profit. For bonds, a company will collect your money using it to carry out business and offer you a considerable amount of time to be paid your money with interest. Investing in stocks and bonds is a good investment because the risk involved is minimal compared to forex trading. You need to research the stocks to buy that have the potential to rise in the future. After researching, you will need a stock broker from whom you can buy the stock. You will need capital to start this business, which can be a challenge for newbies. The amount of profit to be made depends on the capital you invested and the return on investment.

Sell handmade products

What can be more exciting than turning something you enjoy doing into an income stream? Well, as a small business owner, you can do that. And you do not need a business degree to do that.

Almost everything you can think of can be turned into a small business. For example, if you like painting, you can sell your artwork online; if you like knitting, you can also sell your handmade works online.

You can build a successful business out of your hobby and sell creations like candles, ceramics, and jewelry on websites like Etsy.

Offer translation services

Speaking more than one language is advantageous in India because you can easily make a living by translating documents for clients into another language. It is among the most discussed skills when you inquire about how to make money online in Pakistan.

If you are a native speaker of languages such as Chinese, French, or German, you can make a living by simply translating for clients on freelancing websites.

You can also look into joint ventures with translation agencies if you're searching for long-term relationships. You can do this part-time side job while you're free and make $15 to $25 per hour.

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.

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.

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.

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.

Copy trading

Copy trading is a system for traders who lack expertise and those with limited time to commit to trading in the financial market. It automatically allows individuals to copy positions that are opened and managed by other selected individuals. Copy trading is the perfect start for a newbie trader because you are not the one trading. It allows you the opportunity to experience the success and failures of others and to learn from their mistakes. It's an excellent way to make money in the financial market, but it's not without risk. You need to create an account with a broker supporting copy trading. You need substantial capital to make a good profit. You need to research the broker copy trading service to use and be careful which trader to follow because you will entrust a part of your portfolio to a stranger. The earnings depend on your capital.

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.

Is it possible to earn an extra $1,000 per month online in Pakistan?

Earning an additional $1,000 per month online in Pakistan is an achievable objective, but its realization hinges on a multitude of factors, including your unique skill set, qualifications, and the specific opportunities at your disposal. For beginners aspiring to reach this financial milestone, here are some invaluable tips highlighted by TU experts:

• Leverage your strength. Start by identifying your strengths and expertise, whether in writing, design, coding, or digital marketing. Concentrating on your core competencies will enhance your chances of securing well-paying online work

• Continuous learning. Invest in online courses and resources to upgrade your skills. Platforms like Coursera, Udemy, and LinkedIn Learning offer affordable courses that can bolster your marketability and earning potential

• Freelancing platforms. Register on freelancing websites such as Upwork, Fiverr, and Freelancer, which connect you with a global clientele. These platforms allow you to showcase your services and bid on projects that align with your skills

• Content creation. Consider launching a blog, YouTube channel, or niche website. While it may take time to generate income, high-quality content can eventually be monetized through avenues like advertising, sponsorships, and affiliate marketing

• Diversify income streams. Avoid relying solely on one source of income. By exploring multiple online opportunities concurrently, you can increase your chances of reaching the coveted $1,000 monthly target

By combining your skills, interests, and unwavering commitment with these strategic guidelines, you can steadily progress towards your goal of earning an extra $1,000 per month online in Pakistan.

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

When selecting the ideal path to make money online in Pakistan, several critical criteria come into play. Firstly, consider your own skills, interests, and expertise to ensure that the chosen avenue aligns with your strengths. Additionally, assess the current demand for the chosen field within the Pakistani market. One noteworthy option, particularly for those interested in financial ventures, is copy trading. This method allows individuals to replicate the investment strategies of experienced traders, minimizing the need for extensive financial knowledge and offering a potentially profitable opportunity. To make a sound decision, evaluate the risk, potential return, and level of commitment required for each available avenue, ensuring that it harmonizes with your goals and resources.

How to spot and avoid online in Pakistan scams

Identifying and steering clear of online scams in Pakistan is paramount to safeguarding your financial interests. Here are three essential tips to spot and avoid scams, according to Traders Union analysts:

• Research and due diligence. Before engaging in any online opportunity, thoroughly research the platform, company, or individual offering the opportunity. Look for reviews, check their legitimacy, and ensure they have a verifiable online presence. Be wary of overly hyped promises and high-pressure sales tactics

• Protect personal information. Exercise caution when sharing personal or financial information online. Scammers often request sensitive data for fraudulent purposes. Never share your banking details, social security number, or passwords without verifying the legitimacy of the recipient

• Trust your instincts. If an online opportunity appears too good to be true, it probably is. Trust your instincts and exercise skepticism when confronted with offers that promise rapid wealth with minimal effort. Be cautious of unsolicited offers, particularly those received through spam emails or unknown sources

By adhering to these tips and maintaining a cautious and discerning approach, you can better protect yourself from falling victim to online scams in Pakistan and ensure a safer online financial journey.

Best brokers to invest money in Pakistan 2024

Revolut

Revolut Review

Revolut is a British fintech company that has been providing investors with accounts for trading precious metals, cryptocurrencies, and stocks listed on U.S. exchanges since 2015. The broker offers its clients access to investing in stocks and ETFs on European stock exchanges. For organizations and private clients, the company offers a multi-currency account with the possibility of exchanging currencies at the current inter-bank exchange rate. Revolut is supervised by the Financial Services Authority (FSA).

Interactive Brokers

IBKR Review

Interactive Brokers is among the best-known US investment companies, operating since 1977. The broker offers to trade currency pairs, but its basic instruments are stocks, CFD, indices, metals, ETF, futures, and other exchange market assets. The company is regulated by the US Securities and Exchange Commission (SEC), the US Financial Industry Regulatory Authority (FINRA), the UK Financial Regulatory Authority (FCA, 208159), and other international financial regulation commissions. In 2020, the broker was awarded the "Best Online Broker” (Barron's) and "Best Broker for Economical Investments" (NerdWallet) titles and got five stars in the Online Stock Trading for Traders category (Canstar). Also, the broker is popular in other countries. Here you can read reviews of Interactive Brokers in Canada, Singapore, Australia, Hong Kong, Ireland.