All you physically need to make money in the world today is a mobile device and an internet connection. Naturally, there will be some skills and software you’ll also have to acquire before you can turn a profit. However, in terms of what you need to get started, there isn’t really much more to it than smartphones and tablets, which is fortunate given how many of them are now available. Indeed, as early as 2014, GSMA Intelligence reported that there were now more “gadgets” in the world than humans.
“Conectado” (CC BY-SA 2.0) by clasesdeperiodismo
At the time, the data intelligence agency calculated that there approximately 7.19 billion gadgets in the world. In line with this, Statista noted that there were 4.23 billion mobile phone users in the world; a figure which is set to top 5 billion by 2019. In simple terms, we’re more connected than ever, which means it’s possible to make money while you’re traveling. That, in reality, is good news for travelers because let’s face it, money is the biggest worry while you’re away. From saving before you go to devising a budgeting plan that involves purchasing trips prior to flying, daily spending limits, cash vs. card transaction and more, money is always an issue.
Trading and Travelling Go Hand in Hand
“Travel” (CC BY 2.0) by preetamrai
In the old days (and still today), keen travelers would find work in a local bar, earn some cash and extend their trip. However, with the world changing, that’s no longer necessary. Online trading is one of the possible ways to invest your time while you’re away, but only if you understand the markets you’re getting into. Thanks to the advent of software such as the MetaTrader platform, casual internet users have been able to trade online like professionals. Through a combination of easy access, leverage and signals, even the most inexperienced can find ways to profit from the trading world for a relatively small stake.
Take, for example, CFD stocks (contract for difference) trading. In simple terms, CFD stocks trading allows you to speculate on the rise or fall of shares, and with CFD you can also speculate on the prices of commodities, currencies, and indices, without buying any such shares or commodities. Essentially, this is a quick form of trading where you pick where a price will increase or decrease. At a platform such as IG, you to trade on 8,000 shares with real-time pricing software that allows you to execute (i.e. make a trade) with a single click. In other words, a traveler with limited time can pull out their phone, initiate and complete trades with a few quick moves. From this, they can make some profit and carry on with their day.
Make Money Using Money
“Stock Photography – Canadian Coins” (CC BY 2.0) by MorboKat
Another way to make money online whilst you’re traveling is to invest in cryptocurrencies. Anyone with even half an eye on the media in 2017 will have seen something about Bitcoin. The first and most popular cryptocurrency has seen its value skyrocket in 2017 and that’s made it a mainstream hit. Although the long-term value of Bitcoin is the subject of debate, we know that its value has increased from around $1,000/£747 to more than $16,000/£12,000 in 2017 and many believe it will continue to rise (albeit at a slower rate) in the future. With this being the case, there’s clearly money in the market.
Coinbase offers a fairly easy route to market with an app that allows you to buy and sell Bitcoin as well as Ethereum and Litecoin. After creating an account, users can check real-time prices for the three cryptocurrencies, check recent performance data and even set-up price alerts. By combining this raw data with new stories and market information that could potentially affect the price of a cryptocurrency, the average traveler could make some quick cash to extend their trip or build up a pot of money ready to help them transition back into reality once the traveling is over.
Of course, whether you decide to invest in CFDs, cryptocurrencies or any other product, money management and knowledge are essential. Even though we have greater access to a myriad of ways to make money on the move, this doesn’t mean you’re bound to succeed. However, if you can take your time and put as much thought into your investments as you did planning your big trip, there’s every chance you could keep the party going for as long as you like.