Passive income apps help you to earn extra cash with minimal effort. Some are as simple as cashback apps, while others provide a platform for serious real estate investment or trading. Below are 4 of the best passive income apps for 2021.
Drop App is a cashback app and reward program that is available for both in-store and online purchases. It is simple to sign up, and you get a $1 sign-up bonus. You then link the app to your credit card, and you will get a percentage of the money you spend returned right back to you.
Some of the participating stores include Walmart, Target, Uber, McDonald’s, Walgreens, etc., and they are adding new stores every week. You most likely shop in these stores already; you might as well sign up to the Drop App and get rewards or some money back for your purchases.
You will be surprised at how rewards gradually add up without you thinking much about them. Once you earn at least $5, you can cash out in the form of a gift card at Starbucks, Walmart, or Amazon, among other stores.
Dailyrewards is the Canadian sister company to the US-based InboxDollars. It is a convenient paid surveys platform available both as a mobile app or on the website. Upon registration, you will be asked a few questions to establish your demographics, and you earn free $5.
Dailyrewards then matches you with relevant brand surveys and other online activities such as watching videos and shopping. You can earn from a few dollars up to hundreds of dollars. Dailyrewards may not make you a millionaire, but it is a smart way to add some money to your bank account without too much effort. There is a wide range of online activities available at any one point for you to choose from.
Turo is a peer–to–peer car rental company. It first launched in Canada in 2016. It allows you to rent out your car. The platform is free to join, and you can earn some decent money.
There is a limited liability as guests who hire your car pay for gas and any damages. You get your share of the money earned within 72 hours after completion of the trip. If your car sits idly on the driveway most days, Turo is a low-risk method to put it to use and earn some income passively.
WealthSimple is a commission-free stock trading platform. You can buy and sell thousands of EFTs and stocks on the US and Canada Stock exchange on the app. There are no minimums for maintaining an account, and you can start with as low as $1. The brokerage is a member of the Canadian Investor Protection Fund (CIPF), which covers accounts of up to $1M against bankruptcy.