*Click to read the affiliate disclaimer*


(Last Updated On: )

There are countless investment strategies that can help you to grow your money. Some of these are complex and require a lot of research. Others require you to already be rich in order to get involved. Fortunately, the internet has made it easy for everyday people to get involved in investing through a number of new investment methods. Many of these don’t require you to have the knowledge of a stockbroker nor do they require you to already be a millionaire. Here are 4 strategies that could be worth looking into.

 

Try peer-to-peer lending

Peer-to-peer lending allow you to give out loans to other users online. The amount you lend is up to you – on some sites you can lend as little as $25. The person borrowing your money then pays you back over time with interest attached as they would with a regular loan. You then make money through this interest. The more you’re willing to lend, the more interest you’ll make back. Whilst there are many peer-to-peer lending sites out there, it’s worth only using well-established and reputable sites. Using such sites will ensure that your loan is paid back – you don’t want to be lending to a stranger on any old site.   

 

Buy a cryptocurrency

Crytocurrencies are the hot new asset that everyone is investing in. These are basically digital currencies, first developed to get around foreign currency transfer fees. The most renowned in Bitcoin, which saw a huge soar in value in 2017. Sites like www.commodity.com give information on other cryptocurrencies out there on the market. Such currencies are a bit of gamble as they are new – many veteran investors don’t quite know what to think of them. The advantage is that you can invest as little or as much as you like into cryptocurrencies. This makes it less of a commitment than many other types of investment.

 

Use a robo-advisor

Don’t trust investment brokers? For unbiased investment advice, many investors are now turning to robo-advisers. These are computer programmes that monitor a vast array of stocks and shares to find those that are on the rise and the lowest risk. This is all based on hard figures. The likes of www.nerdwallet.com compare various robo-advisers out there. Some require an account minimum, whilst others may charge a management fee. It’s important to read up on all this before choosing a robo-adviser.

 

Use a micro-investment app

Micro-investing is a way of investing small amounts of money. Various micro-investment apps can help you save up money out of your loose change and then advise you on the best way to invest this money. This may include rounding up every purchase to the nearest dollar and then putting the extra cents into a savings account (if you pay $2.40 for a coffee, the app rounds it up to $3 and then puts the extra 60 cents into a savings account which you can invest with). Sites like www.moneypantry.com detail some of the best micro-investment apps worth trying out.

Chiino
Latest posts by Chiino (see all)