The modern day smartphone is akin to having your own high-speed computer in your pocket. The amount of apps and services available is huge, the opportunity to make money on the move is there for everybody but how do you get started?

Some of the money earning options on your mobile phone will involve buying and selling products while others will involve spending time online, such as gaming apps. We will now take a look at some of the more popular ways to make money (or in some cases avoid losing it) using your phone. 

Stock market trading

The Canadian financial markets are some of the most popular in the world and it is no surprise that there are a huge number of mobile phone trading apps to choose from. Whether you are looking to trade stocks and shares, bonds, EFTs, futures or options, there will be a mobile app for you. However, there are a number of factors to take into consideration such as:-

• Security

In the last few years we have seen major developments in the area of mobile Internet/mobile phone app security which has given many people the confidence to trade online via their smartphone. Initially, they may have traded through their laptop/desktop but when on the move you need to keep an eye on your investments in a safe secure environment. You can now!

• Internet speeds

As Canadian mobile phone operators continue to roll out 4G, high-speed and highly reliable mobile Internet, there are already plans for the 5G network. Research confirms that Canada has one of the fastest 4G networks in the world so what can we expect from 5G? In the world of investment, every second can literally count so 4G offers the perfect delivery service for your trading platform.

• Reliability

When buying and selling investments via stock trading platforms, it is imperative that you have a reliable Internet connection. Can you imagine trying to buy/sell stocks in a falling market only to find your Internet connection dropped and you failed to deal?

• Trading platforms

Even a quick look on Google will show you the many different trading platform apps that are available today. Some trading platforms will focus on specific types of investments while many will offer access to the full range of investments. We are talking stocks/shares to bonds, futures contracts to options, commodities and currencies and more….

You will likely find that your existing trading platform has an app which you can download which effectively gives you full access on the move. While we often take it for granted that trading platform apps will be safe and secure, thankfully the best ones are!

Selling unwanted/surplus items

They say that a picture paints a thousand words – well this is certainly the case when looking to sell items online. In many ways the modern day smartphone is the perfect device to sell items online using platforms such as eBay and other sites. There are a number of factors to take into consideration such as:-

• Images

The ability to literally click on your mobile phone camera, take a quick image and upload it onto the likes of eBay perfectly illustrates the power of the smartphone. It is no surprise that many digital cameras remain unused with ever improving camera technology available for the modern day smartphone. In many ways it is the image which will sell your product – although the description and postage details will be very useful!

• Wide audience

While websites such as eBay lead the way in this particular field many people also look towards Amazon which allows you to sell second hand products. You will find that specific websites appeal to different audiences so you need to choose the appropriate platform for the products you are selling. Can you imagine somebody sitting at work with a few minutes to spare, looking through eBay, they spot your auction and click on the buy it now price. Deal done!

• Smart pricing

Some platforms will offer smart pricing which will steer you towards a particular starting price which will make your item eye-catching and popular amongst potential buyers. Sometimes the price may seem too high or too low but we strongly advise not ignoring the smart price indicator.

• One click payment

Whether you are using your bank account or PayPal, the likes of eBay and Amazon offer one click payment. Your details are saved, simply fill your basket, go to the checkout and pay, it’s as quick and easy as that.

There is no doubt that use the likes of eBay and Amazon, and other similar selling platforms, allow you to de-clutter your room, sell-off items you have never used and in the process raise some very useful cash!

Sell your photographs

You may have noticed recently that many people have created very useful income streams by selling photographs taken on their mobile phone. It is only over the last couple of years that this has been possible due to the huge improvement in mobile phone camera technology. As we touched on above, many digital cameras have been left in the draw for many months now, smartphones have taken over. However, there are a number of issues to consider when looking to maximising income from photographs taken on your phone:-

• Quality, quality, quality

Remember, this is a very competitive market because you could literally be anywhere, see something interesting and take a snap. However, to maximise your sale price you need to ensure the photograph is as crisp as possible. Something rare, something interesting or something funny, there will be a market for it!

• Respecting privacy

While it is very tempting to take out your smartphone and snap a few pictures of something interesting you do need to respect the privacy of individuals. There are certain scenarios which are not appropriate and in reality many of the platforms allowing you to sell photographs will censor/reject some material.

• Nature, people and funny scenarios

We have seen some bizarre photographs over the years which have been syndicated and raised a lot of money for individuals. These pictures could include natural beauty, individuals and funny scenarios involving anything – literally anything. People are often looking for something different, something which will catch the eye of their reader and they will pay top dollar for it.

Over the years we have seen a huge array of photographs making it into the mainstream market with particular focus on animals. Who doesn’t love a cute dog?

Playing games

While many people are still sceptical of online games which will pay you to play them, this is a bone fide marketing strategy and very successful. The idea is simple:-

• Encourage you to play

The more you play a particular company’s games the more likely you will be interested in other products they have to offer. The paid game strategy will retain your interest, earning money as you play, while there will be peripheral marketing all around.

• Bonuses for introducing others

Many gaming platforms will give you a bonus for introducing others to the world of paid gaming. This then offers the opportunity for those individuals to refer their friends and family and the process continues.

• Helping fix bugs

You will no doubt have noticed that a number of online gaming companies will launch beta versions of their latest offerings, often within the paid to play arena. Why? Quite simple, they are looking for as many individuals as possible to play their games and find any bugs they may have missed in testing.

For many people it will be a godsend getting paid to play their favourite games and gain access to the next generation of smartphone gaming apps. Get paid as you play is certainly a popular phenomenon!

Taking surveys

We all have opinions across a whole range of different subjects from sports to politics, finance to business and everything else in between. So, it will come as no surprise to learn that paid surveys are a very useful means of earning money while giving your opinion. Somebody is listening!

• Subject matter

As the vast majority of the population have access to some kind of mobile device/smartphone this has opened up a huge market for polling/survey companies. They can advertise their paid services across platforms which are popular with a particular type of clientele. Whether you have strong opinions on politics, sport or anything else, there will be a paid survey service for you.

• Feedback is priceless

While many people are sceptical of a paid service, they are a very useful and informative marketing tool. The feedback these surveys generate can be game changing for a company looking to release a new product/service. Indeed you may be able to incorporate the use of a new product/service with a survey and then make adjustments before the big launch.

Everybody likes to get on their soapbox once in a while, so why not get paid for doing it?

Summary

In the early days many people were sceptical of using mobile phone apps whether for investment purposes, selling online, taking surveys, being paid to play their favourite games or selling photographs. The Internet can be a ruthless place, but on the upside scammers and fraudsters will very quickly be brought to the attention of the masses. There are genuine ways in which you can create useful income streams just using your mobile phone. Are you ready to take the plunge?