What are the best ways on how to double your money in 1 year?
If this is what you want you’re looking to know about or learn, then you’re on the right page.
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Doubling money in the space of one year is a realistic target.
Other than that, there are ways to double your money in 1 hour, 24 hours, and even 30 days.
These are quick and mostly high risk ways.
But in this article, you’ll get a dose of the best ways to double your money in one year, and with minimal risks.
Let’s get started.
How to Double Your Money in 1 Year: 11 Realistic Ways.
1. Invest in the stock market.
Investing in the stock market right now is one of the best ways to double your money in one year.
It’s 365 days, and a lot can happen in the stock market.
The good thing is that you don’t have to rush into investing in the stock market.
You’ll need to follow market trends and ask stock brokers about the best stocks to invest your money into for a higher ROI in the next 365 days.
Now, trading the stock market is another way to double your money within the timeframe of one year.
But that’s a lot of intelligent work.
There’s a ton you’ll need to learn if you must emerge a successful stock trader.
With 1 year, there’s no need to risk your money to trade.
And this is because there’s every chance you must’ve liquidated your entire capital before the end of one year.
Ironic, but this could easily become the case if you’re new to trading and you want to double your money in 1 year.
With this said, trading remains the ultimate if you’re looking at a whole year to make twice your capital.
The craziest market moves could happen in the next couple of months.
Who can tell?
2. Start an ecommerce business.
An ecommerce business would be expensive to start out, but in the space of one year, you can more than double your initial investment.
With effective marketing and branding, you should be able to gain dominance.
At least, locally.
What’s expensive about starting an e-commerce business isn’t the start-up cost; but the marketing cost.
Once your ecommerce business is up and running and you have all the products on the website with their price tags, then you’ll need people to actually buy the products.
While it’s still expensive to start an ecommerce business, more money will be spent advertising the store just to get enough people to shop there.
Want to get started with your ecommerce business today?
Then checkout Shopify to help build your store online.
You don’t have to be a programmer to do it yourself.
Without knowing how to write a single line of code, you can have your ecommerce website up and running with the click of a few buttons, thanks to Shopify.
3. Dropshipping.
Similar to ecommerce, dropshipping is one of the best ways on how to double your money in 1 year.
You’ll be building a dropshipping store which you’ll promote on social media to get more patronage.
Basically, dropshipping stores take the same business model as ecommerce businesses.
This time, it’s less work.
Maybe less income too.
Yeah.
When you start a dropshipping business, you don’t think about the inventory or shipping products.
Everything is handled by the suppliers or the original manufacturer of the products.
However, you want to learn all you can about building a dropshipping store just before delving into it.
To start your dropshipping store right now, sign up on Alidropship today.
It’s easy to get started with Alidropship; you’ve got all the advanced features and it’s easily integrated with AliExpress suppliers.
4. Scale affiliate products.
By scaling affiliate products, this means you’ll promote affiliate products with your money with the intention of getting more sales and increasing commissions.
Affiliate products are the kinds of products that make you money when you sell them.
Depending on their worth or cost, you can earn anywhere from a few cents to 4 figures in commissions from the sales of affiliate products.
That said, it’s really important the kind of affiliate products you venture into.
If you want to make more money with a few sales, then you should sign up as an affiliate marketer for expensive products worth thousands of dollars.
This is usually the wiser option on the list.
But if you want to get more sales and still make a lot of money, very cheap (affiliate) products are easy to find.
Once you become an affiliate marketer for these products; the expensive or cheap ones, you can promote them on social media to get more eyeballs on them and increase the chances of making sales.
Basically, people will buy products if they feel the need to buy them.
This way, you want to put what they’ll benefit from buying the affiliate products right in front of them.
Let them know what’s in it for them and what they stand to benefit.
This will definitely yield more results than highlighting the design and features of the products you’re promoting.
5. Online course sales.
Selling a course of your own is another way to double your money.
And that’s if you spent any money at all creating the course.
Whatever it is, people will buy your course if you’re a reputable personality other than an author from the sky.
So, you want to make sure you’re known first for something.
If you’re good at coding or creating designs, join communities and become a name (at least on the internet).
Have a following; it doesn’t have to be a millions people following you.
Just have a couple thousand people who know about what you do.
An easy way to do this is to have a blog, a social media page dedicated to yourself or your work, and/or a blog that gets thousands of visitors per month.
With any of these web traffic magnets, it’ll be easy for you to sell your course.
This time, you already have people who are willing to listen to you.
If you want to create a course today, try out Thinkific.
They’ve got some of the best course creation templates that you can use to quickly build a user-friendly course.
After that, you can submit your course on Udemy to millions of people looking to buy courses in different niches.
6. Publish a book.
Whether it’s online or offline, to make money from selling a book of your own can become a reality if it’s a good book, has some popular coauthor, or is a book you wrote in your prime field.
And by prime field, I mean an area of specialization where people can attest to your expertise.
However, don’t publish a book because you want to make money.
Publish a book to add value; making money should be the secondary goal.
Value should come first as your book will be out there in the hands of other people forever.
If it’s a trash piece of compiled or regurgitated information, it’ll be like that forever in the hands of the people who buy it.
If it’s epic; forever epic it’ll be.
Quality and value cannot be replaced.
7. Sell items online.
Selling items online is another great way to double your money in the timeframe of one year.
How this works is simple; you buy cheap items offline and resell them online for profit.
Where you get these items actually determine how much profit you’ll get from selling them online.
If you check out church rummages and curbsides for items you can sell online, you’d be surprised how much quality items you’ll get for almost nothing.
In thrift stores, barnyards and garage sales, you can get products worth hundreds of dollars for a few dollars.
Now, it’s your call to resell them online for profit.
8. Binary options (risk: high).
One of the quickest ways to make money fast online pertaining to the financial markets is trading binary options.
I mean, you can double your money in a single day if you’re good at trading binary options.
Conversely, you can become totally broke from wealth if you’re a dummy testing out the binary options market with real money.
However, this is a high risk approach to doubling your money.
It’s also pretty realistic as tons of good binary options traders have been able to grow mega accounts from hundreds of dollars.
Firstly, the binary options market is short-term.
This means you can’t hold a position for very long.
9. Invest in shit coins.
Once upon a time, bitcoin was a shit coin.
But now, it’s the king of all crypto coins.
Truth is, you never know what coin will become the next big thing.
Just like Shiba Inu and Dogecoin, any coin can sprint from pennies to a couple dollars or even a few hundred dollars in a week.
This is a reality with crypto.
And for this reason alone, investing in shit coins is a good idea.
Not just any shit coin, but the ones with the best crypto use case.
10. Invest in solid coins.
Solid coins are good coins, or good crypto assets.
Doubling your money in one year can become a reality quickly if you bury the money in crypto and leave it there.
You don’t need to trade here, all you need to do is carry out a market research to see the best crypto to invest in right now.
Investing in crypto as opposed to trading it is one of the safest ways to make money in the crypto world.
But then, it’s not 100% guaranteed that this will double your money for you.
It’s crypto, anything can happen.
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11. Trade crypto.
Coming in last spot is the option to trade crypto.
Now, you want to take out some months to learn how to trade crypto if you must trade it to make money or double your money in the space of one year. Ideally, trading crypto can make you a millionaire from nothing.
Once you’re good at it and you’ve got a winning strategy, then you can double any amount of money within a short period of time.
However, some of the biggest crypto trading platforms will allow you a demo account or a mock trading account to test out your trading skills.
This is a great feature to help you catch up with trading and eventually become a better trader.
To start trading right now, sign up for free on Binance.
Hell, yeah.
It’s one of the biggest trading platforms in the world right now and it’s got some of the most beginner friendly tools to help you scale your learning process.
How to Double Your Money in 1 Year: 11 Realistic Ways – Final Words.
In the space of 1 year, you can double your money realistically by trading crypto and compounding your profits, investing in solid coins, investing in shit coins, trading binary options and compounding your profits, selling items online, publishing a good book, selling courses online, scaling affiliate products, dropshipping, investing in the stock market, and launching an ecommerce business.
There are a lot more options to explore if you’re looking to double your money within a year.
