Bali is a popular destination for digital nomads. The nice climate, relative low cost of life, decent internet speeds and the ever friendly Balinese people are a great place to get things done.
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If you are looking at getting into the online digital nomad space then these are just a few of the many ways you can earn a living on your laptop while sipping on a coconut at the ocean.
1. Online Freelancer
Are you a wizard at digital design or perhaps an expert in fixing WordPress issues? Then you can sell your services online worldwide.
There are several online platforms providing an online market place for freelancers to sell their services worldwide.
Fiverr is more for single projects like designing a logo or doing a voiceover. Upwork and Freelancer are more geared towards bigger and/or longer projects like online customer support or developing a mobile app.
2. Online Trading
Learn how to trade currencies and earn money trading online. Some resources to get started;
- YouTube video – What is FOREX?
- Free online course with BabyPips.com (great resource).
If you are in Indonesia you will most likely need to use a VPN to access most websites that discuss FOREX as many of these websites are blocked in Indonesia.
If you are new to FOREX trading then make sure you learn with a demo account first (most brokers offer demo accounts). When you are comfortable practicing on a demo account then move onto a real account.
There is also an option for managed FOREX trading. This is when you follow an experienced trader and copy their strategy. Continue here to learn more about ATG 5.0 (Auto Trade Gold).
Create a blog on your favourite topic and monetize your content by displaying advertising on your blog. Some useful resources;
- WordPress.org – platform to create websites and blogs (Bali Scoop uses WordPress).
- Cloudways.com – a website hosting company (Bali Scoop uses Cloudways).
- Adsense – Google advertising to monetize your blog.
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4. Peer to Peer Lending
With P2P lending you cut the bank as middle man and lend money direct to the borrower. You can use fintech for that such as;
Both Koinworks and Investree will rate the available loans from low to high risk. Interest rates you earn can be anywhere from 12% to 23% depending on the risk.
Both Koinworks and Investree are registered with OJK (Financial Services Authority of Indonesia). With Koinworks you can also buy/sell gold.
Sell products without having any stock and very little startup capital. Use Aliexpress, Oberlo or Shopify to create an online store.
This YouTube video is a great intro if you have never heard about dropshipping – “What is Dropshipping – How to make money online“.
- Unbabel.com pays freelance translators.
Do you know of other ways to earn online while in Bali? Let us know in the comments.