While it’s fair to say that smartphone penetration rates in the UK have largely plateaued as the market has reached saturation point, it’s still projected to rise from 92% in 2021 to 94% by 2025.
At the same time, mobile phones have also become more advanced and capacious, from upgraded camera devices and more widespread Internet access to the growing number of functional and productivity apps.
Because of this, it’s now easier than ever to make money from your smartphone. Here are some of the best and most generative options.
How Can You Make Money From Your Smartphone
#1. Financial Trading and Investment
Increasingly, retail traders in the global financial space are operating using their smartphones, enabling them to capitalise on real-time trends and price shifts while simultaneously targeting global marketplaces.
Two of the most popular markets for mobile retail traders are forex and stocks, with the former enabling you to trade international currencies in pairs and as derivative assets. This allows you to speculate on price shifts, while profiting in depreciating markets without assuming ownership of the underlying financial instrument.
When it comes to equities and shares, indices trading is a safer trading option, as this offers you access to stocks indexes that minimise your exposure in the market and create a significantly less volatile option.
Indexes can cover entire industries or the leading companies in a specific company, creating instant diversification and optimising your returns over time.
#2. Social Media Management
Social media remains a key marketing and sales tool in the digital age, with a growing majority of users now using their smartphones to access their accounts.
There are numerous ways through which you can generate income through your mobile, including the creation of a social media blog.
With this, you can take photos and create valuable content in a bid to build a viable and loyal following, which in turn creates opportunities to enter into sponsorship agreements and commercial partnerships.
You can also generate income through social media management using your smartphone, targeting a number of commercial social media accounts and earning incremental revenue from each one.
#3. Selling Items Online and Dropshipping
Certainly, buying and selling items is considerably easier and more accessible through dedicated mobile apps, while this creates a great way of generating income without incurring significant costs.
Similarly, you can also use your smartphone to organise drop shipping activities. With this practice, you identify in-demand goods and procure these at wholesale prices, before selling them on quickly and distributing them at their full retail value.
You can realise the difference between these two prices as your profit, relying on volume orders to optimise your returns over time.
I love tech and gaming, and am always looking for the ‘next big thing’…