If you want to triple $5,000 dollars, there’s good news and there’s bad news. The bad news is that you can do this within a day but at the end of the day you stand a risk of losing your entire capital.
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The good news is there are long term methods on how to triple $5,000 dollars and they come with reduced risks. In all, tripling $5k isn’t a big deal and you can choose to do it fast or do it over the long haul. While I’m not specifically sharing any magical or secret tips here, you’ll get what works and what works in the real world.
Here are 13 ways to triple $5,000 dollars, and some of them are what you can explore right away.
How to Triple $5,000 Dollars in 13 Valid Ways
Invest in the Stock Market
This isn’t 100% guaranteed, but it’s one of the ways to triple $5,000 dollars for real. It’s simple and all you have to do is to invest in the right stocks.
You can choose to invest in penny stocks or solid stocks with the tendency to soar in price with time. Since you’ll be investing, you’re looking at a long-term ROI. This simply means that you will not be getting the returns of your investment any time soon.
Plus, it’s advisable not just because you want to triple $5,000 dollars, but if you want to build wealth in the future for yourself and your kids, investing in the right stocks is a way forward.
Buy Shit Coins
Shit coins are the penny stocks of the crypto market. They’re crypto assets that are worth very little. Some shit coins can be worth $0.0000676 per unit. REALLY cheap.
So, if you want to triple $5,000 dollars, you’ll be taking a risk here to invest in these shit coins. Just like the stock investment, this is also not guaranteed to come out in your favor. You could get 3× your $5k or 2× or 10× depending on your portfolio of shit coins and how they performed over time.
The possibility for loss in this area is not non-existent. You could end up with nothing or with less than what you invested initially (in very rare cases). As long as you pick the right shit coins based on research to invest in, you should be good.
Trade Forex
To triple $5k dollars, trade the forex market. Now, this is a no-brainer if the money, the $5,000 dollars, is your spare money. But if it isn’t, then it’s not very wise to put your life savings or salary in the forex market, especially if you’re very good at trading just yet. Forex trading is risky, and can be very profitable too if you know your way around it.
But if you’re starting as a newbie, highly recommend that you take out some time to learn before trading. With the help of demo accounts, you’ll be able to learn even faster.
Bet Online on Sports
Online betting is pure gamble and there’s nothing else to it. What you do is predict games and the outcome with favors or destabilizes you. At best, you can make informed decisions by understanding the players and parties in the game of your choice.
You stand a chance to make a win with your predictions when you know about the team players and their historical records. For soccer, it’s more difficult to predict the outcome because the success depends on the capacity of 11 players on a team.
Sports like boxing and table tennis are easier to stake on because you can easily get to know about the capacity and records of the primary (single) played. In a bid to triple $5,000 dollars, you might lose everything or win more than 3× your stake capital. It’s a game of chance.
Launch and Promote Your Course
Course sales isn’t a new thing people do on the internet to make money passively. The good news is that you can do this to triple $5,000 dollars and even make more money.
So, if you know about something or you’re a pro in a particular niche or field of interest, then you can create a course around it to teach people. It’s easy to create a course with tools like Thinkific now and with the help of social media and Udemy, you can get your course across to the right audience searching to buy it.
Promote Affiliate Products
Affiliate marketing is a top G when it comes to making money online passively. It’s one of the ways to make mind-blowing money online and it’s passive. All you do basically is to promote affiliate products as an affiliate marketer. Basically, the more target audience you’re able to reach, the more sales you’ll record.
So, instead of going about affiliate marketing the natural way without promoting anything or spending any money on promotion, we’ll do it the smart way – by spending money to promote affiliate products to reach more target audience on social media.
So, if you spend a total of $1,000 dollars promoting a product that earns you $120 in commissions per sale, you can average 20 sales.
Or $2,400 dollars in commissions. Basically, you’ll keep doing this once you’ve found the right configurations to promote your affiliate products for maximum performance either on Tiktok, Instagram, or Facebook (particularly).
Do AdSense Arbitrage
AdSense arbitrage is a concept on the internet that revolves around earning more than you spend. You buy traffic, monetize your blog, and then the traffic prints money for you.
First of all, you’ll need to start a blog in the right niche or a profitable niche at least. Afterwards, you create about 30 to 40 good content on the blog and monetize it with Google AdSense.
Once you’re accepted in the AdSense ads network and you’re seeing ads on your blog, you’ll need to buy web traffic from trusted sources to your blog. Find a way to buy cheap but good traffic to your blog that’ll generate more revenue on your AdSense dashboard.
I’m not going any further on AdSense arbitrage here, maybe I’ll create a course around it later. But the point is; you can triple $5,000 dollars within one week with AdSense arbitrage.
Trade Crypto
Crypto trading is definitely a way to triple $5,000 dollars, and while this can happen in one day, you ramp up the risk of losing your entire trading capital. Trading crypto is something you can do from home, in your bedroom and it’s not a passive income method either.
You actively trade every single day to make money. The good thing is you trade when you want to; not like you have to. So, with your $5k, you can put around 10% or 20% into your crypto account to trade with. Understand how trading works and how to not lose every time you execute a trade. Learning is always the way forward.
Options Trading
Another way on how to triple $5,000 dollars is to trade the options market. Like every other financial market, options trading isn’t a risk-free way to make money.
You’ll need to learn to trade first before putting your money in there. Oops! You need money to trade too. But you’ve got $5k right now, even at that, trading with all of your money isn’t ideal.
You want to trade with around 20% of $5,000 dollars to slowly build your profit. There’ll be losses and wins, but understanding the risk management techniques will put you on a safer lane as a trader.
Try Binary Options
Quite different from options trading, binary options trading for is a risky way to make money. It’s not passive income, but it’s definitely one way to make three times $5,000 bucks. Just like several other financial markets, binary options is a tradable market and there’s a possibility for win and loss.
The more skillful you are at trading, the more money you’re going to make. And while there isn’t any real strategy to win 100% of the time, you can win 80% or 90% of the time with a high win rate strategy.
New to the term?
Then you’ll need to catch up on binary options trading and how it works.
Buy Blue Chip Stocks and Stable Crypto Coins
I suggested buying penny stocks and shit coins before now. But the thing is that there are other stocks that aren’t penny stocks, and other coins that aren’t shit coins that do well.
In the crypto world, you can buy Bitcoin (which isn’t an alt coin) and keep it. Nobody really knows what the future holds for the coin. Buying Bitcoin and keeping it in a bid to triple $5k dollars is a decision you will not regret.
On the other hand, blue chip stocks also have a propensity to keep soaring in value. And you will not regret buying into them even if your $5,000 dollars doesn’t become $15k+ in a couple of months or years from now.
Launch a Drop-shipping Store
Drop-shipping literally costs a few hundred dollars a year to get going unless you want to pay for really expensive tools. If you want to triple $5,000 dollars, then you can start your drop-shipping store with a few hundred or below $100 bucks and promote your drop-shipping store every month to drive traffic.
Before starting a drop-shipping store, it’s ideal to understand all about it and to know the best products to sell in your store for massive success. Drop-shipping isn’t the easiest thing in the world to do, but it’s one of the many ways to generate passive income online.
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Start a Car Detailing Business
In the long haul, you’ll be able to make more than $5,000 dollars off a car detailing business. So, here’s the thing; with your $5k right now, you’re going to start up a car detailing business in a very good location. Print some flyers and promote your business online to get patronage. It won’t take long before you’re making enough money to cover your costs and live well.
In the long run, you’ll find that you’re easily making over $5,000 dollars a month. For the record, you don’t need to have all the equipment in the world to start this business. Start from where you are right now, and you’ll be making more than triple of the $5k you started with.
How to Triple $5,000 Dollars in 13 Valid Ways – Summary
In conclusion, some of the realistic and working ways to triple $5,000 dollars in the real world today include starting a car detailing business, building a drop-shipping store, buying blue chip stocks and solid crypto coins, trading the options and binary options markets, and trading the crypto market.
Other methods include exploring AdSense arbitrage, promoting affiliate products, selling your own course, online betting (which is riskier than most of the methods here), buying shit coins, trading forex, and investing long-term in the stock market.
These methods work; start with the one that resonates best with your personality and skill or the one you’d like to learn and put in the work to increase your chances of tripling whatever cash you’ve got in hand.