It’s always nice to have some extra money. This is especially true when you have a lot of bills to pay or if you’re saving some bucks.
Everyone loves the money transformation in ascending order. So you would definitely be interested in finding out how to turn $100 into $200?
The most efficient and proven ways to turn 100 into 200 are selling on ecommerce platforms, freelancing, or starting a blog. You can also try forex trading, invest in crypto or stocks, but these ways require more experiences and knowledge, as there is a higher risk you could lose your investment.
How to Turn 100 Dollars into 200 Dollars
The internet is full of methods that tell you how to turn 100 dollars into 200 in no time, and some of them can even go as high as $1000 with the right technique.
So let’s take a closer look at them.
1. Ecommerce (Etsy, Amazon, Alibaba)
Starting an eCommerce business has never been that easy before.
With over 470 billion dollars in sales, Amazon is a great place to begin. The best way to get started on Amazon is to do online arbitrage, especially when you’re on a budget.
The first thing you should do is to go to a store like Walmart or Best Buy, find a product with a good price, and then list it on Amazon for sale.
As an eCommerce marketplace with a revenue of over 1.7 billion dollars, Etsy is another great marketplace to get started with eCommerce and get your feet wet.
Etsy is famous for handcrafted and vintage items, but you can also sell digital products like planners, templates, ebooks, and more.
The next platform on how to turn 100 dollars into 200 is Alibaba.
You can start dropshipping, or you can even work as an affiliate on Alibaba. You can even make money sourcing products for businesses that need them.
2. Freelancing on Upwork & Fiverr
There is a famous quote, “If you’re good at something, don’t sell it for free.” Working online as a freelancer is one of the best ways to earn a living.
The great thing about working as a freelancer is that you are in complete control of your pricing, work hours, and clients. In short, you’re your own boss.
There are many freelance platforms out there where you can start offering your services, such as Fiverr, Upwork, and others.
Once you’ve decided which platform/platforms you want to use, make sure your profile pops on the top. The competition might make you work at a lower rate, so you need a strong portfolio.
Nevertheless, freelancing can be a very effective way on how to turn 100 dollars into 200, especially if you have patience and consistency.
3. Start a Blog
If you’re looking for a way to earn both active and passive income, then blogging would be a good choice. This is a great method on how to turn $100 into $200.
To start a blog, you need to select a niche you’re passionate about. If you are just starting out, you could start with Blogger.com, but I recommend you to go with a WordPress blog, as it offers a lot of customization and control.
You should buy a domain and hosting for your WordPress blog.
You can have both if you decide to go with Bluehost. This hosting provider, with free SSL and CDN, is ideal hosting for WordPress blog.
The last time I’ve visited their website, they had 70% off, so visit their website to check if it is still active.
Once you’ve done that, you’re good to go. Try to publish valuable content people like to read.
If you write a blog about a topic that solves a problem or provides an answer to a question, the majority of people will read it.
As soon as your blog gets enough traffic, you can apply for Adsense and start making money.
4. YouTube
There are many exciting ways to turn $100 into $200, and if you enjoy making videos, Youtube is one of the best ways of doing that.
As a Youtuber, you have many ways to earn money – such as collaborating with brands as an influencer and selling your own merchandise. However, becoming a Youtube Partner should be your first move to make if you want to become successful.
First of all, you need a YouTube channel, and it’s super easy to make one. A Gmail account makes it easy to create a YouTube channel, and it takes just a few minutes.
After that, apply to YouTube Partner Program. However, you need to have at least 1000 subscribers on your channel and 4000 hours of watch time over the past year.
As a YouTube Partner, you can earn from several income streams such as video ads, YouTube Premium subscriptions, and many more.
You can have access to some amazing features like Super Chat, where your fans can send you real money, channel-exclusive content, and many more.
5. Affiliate Marketing
Can you turn $100 into $200 with Affiliate Marketing? It’s a big YES!
Affiliate Marketing is a highly valuable skill, and if it is done properly, it can generate as much income as a full-time job if done right.
If you are just getting started, you can sign up on some affiliate networks like Commission Junction (CJ), ClickBank, ShareASale, and a bunch more.
Then, find a product you’re interested in and promote it on different platforms. There are a number of ways you can promote the product, including social media posts, blogs, and even creating a landing page.
With a good niche and an understanding of how Affiliate Marketing works, you can make up to $1000 per day.
How to Turn $100 into $200 in a Day
It takes around six months to a year to earn with the abovementioned techniques. If you do not have that much time on your hands, I have got you covered.
Here is how to turn $100 into $200 in a day using other great strategies.
Each of these strategies is capable of being extremely rewarding, but they all require an in-depth understanding of the subject matter.
1. Forex
Since Forex is one of the biggest financial markets in the world, it is a great way that can be used on how to turn $100 into $200 a day.
Although low costs make it easy to enter the market, but if you don’t know what you’re doing, you’ll lose a lot.
When it comes to becoming successful in the forex market, it is vital to know the basics first. Before you get into forex, here are a few things to keep in mind.
- It is very important for traders to keep an eye on the market because there is always a possibility of market fluctuations, policies, and global events.
- You should try to find a trusted broker on the internet because there are a lot of fake brokers available that will make you lose your money. Ensure your broker is registered with National Futures Association (NFA) and Commodity Future Trading Commission (CFTC).
- Practically all trading platforms come with a practice or demo amount, so be sure to use it to your full advantage by practicing and experimenting.
2. Crypto
Want to find out how to turn $100 into $200 in a day by following another great method? Crypto is the answer to this question, with a projected value of 34.72 billion dollars.
Like Forex, investing in crypto also requires you to have some basic knowledge about the market and how it works to succeed.
There are basically three ways you can make money from crypto, and they can prove to be a great way on how to turn $100 into $200 in a day.
- The first thing you can do is trade or invest in crypto exchanges. What’s great about this is that you don’t have to own any crypto yourself. It’s just like investing in the stock market.
- In the second method, the coins you already own, like Bitcoin or Ethereum, can be staked and lent to other users or the system.
- In third place, you can mine coins or get rewards for your work done in the blockchain system.
3. Stocks
Did you know that 55% of Americans invested in stocks in 2020? Investing in stocks is an excellent method on how to turn $100 into $200 in a day.
A number of strategies can be used, such as investing in growth stocks or using the buy-hold method, but these strategies are for the long-term benefit.
On the other hand, Day Trading is the best option if you’re looking to turn $100 into $200 within a day.
The concept of Day Trading is based on a speculative approach to trading, which means that you open and close your trades over the course of one day.
Day trading is not for the faint of heart. To get started, you need to understand the jargon of Day Trading and also possess strong technical skills.
As a day trader, you are not only limited to trading stocks. You can also trade crypto coins, currencies, commodities, and more.
4. Paid Surveys
It is easy to turn $100 into $200 daily by doing paid surveys online, which is also a great side hustle.
The basic idea behind paid online surveys is pretty simple: People answer a few questions or complete various tasks online, then get paid.
However, it isn’t as simple as it sounds. There are some scam websites that don’t pay you. The following is a list of things that you need to be aware of while participating in paid surveys.
- You should avoid sites that ask you to pay for surveys, as they are most likely to be scams. The reason for this is that you are supposed to receive payment for surveys and not the website itself.
- It is a good side gig to do online surveys, but if it takes most of your time, like 3-4 hours, you may want to look for something that pays you better.
- Don’t rely solely on online surveys for income. Undoubtedly, it is possible to turn $100 into $200 within a day, but it does not give you the freedom of being financially independent.
5. Flip Items
How about another way to turn $100 into $200 in a day? Flipping stuff on the internet can also be a great side gig to earn some extra dollars.
Basically, flipping is a method of reselling a product for a higher price than the price at which it was originally sold and making an extra profit.
However, it’s important to find low-priced products with good value. You can find them at local stores and online stores like eBay or Facebook Marketplace, then sold for a profit.
These items can be anything from smartphones, cameras, designer bags, to even used books. You can easily flip this stuff on eBay, Craigslist, and other online stores.
How to Invest $100 to Make $200
How to turn $100 into $200 can be answered in countless ways, but investing in something that pays off long-term is the key. Here are some ways that will be rewarding for you at the end of the day.
Invest in Yourself
Self-investment is one of the most valuable investments you can make in your life, as it will pay off for your entire life. Learn any skill that’s in demand in your field to gain an edge.
With the latest information at your fingertips, you won’t need to spend a lot of time or money to turn $100 into $200 or even more.
Niche Analysis
Niche analysis is one of the most challenging yet simple ways to earn money online. With this method’s correct use, you can easily turn $100 into $200 or even go beyond $1000.
Begin by writing down as many niche ideas as possible, then narrow them down based on your preferences, interests but also growth potential.
The next step is to set up a website with proper keyword research and SEO. Create social media profiles and write valuable content such as articles, tutorials, and informational posts.
Create a community around your niche by collaborating with influencers in the niche and by signing up with affiliate networks related to your niche.
Market Analysis
Getting a good sense of the market in which you plan to start your business is one of the most important things you must do before you dive into it headfirst. So that’s what market analysis is for.
Basically, market analysis is an in-depth research on a specific market within a certain industry. Several steps are involved in this process, including
- Identifying potential customers and their buying behavior
- Your target market’s size
- Competitor analysis and strengths/weaknesses
- What people want to pay for your product or service
Conclusion
Hopefully, you enjoyed reading this article and have learned a lot about how to turn $100 into $200 by following the tips in it.
It is important to remember that not every method can make you a lot of money, but at the end of the day, you have to try different strategies to find the best one for you.
There is nothing more fascinating than to turn $100 into $200, but the ability to learn to do it consistently and scale up to $1000 or more is game-changing.
