eToro urges Malaysians to make side income in the digital age

KUALA LUMPUR : Since the Movement Control Order (MCO) has been enforced, Malaysians have been spending most of their time online and the Internet can be one of the best democratisers of opportunity for them to develop any potential skills and turn them into alternative revenue streams.

Social trading platform, eToro, has come up with a few suggestions on the ways Malaysians can earn some side income in the midst of the global pandemic.

Among the suggestions are by considering selling old gifts or items that may not have been used in the last six months and build their own networks using social media as an easy way to earn extra cash conveniently.

“Platforms such as Carousell and Mudah.my can be used for selling preloved goods while Upwork and Freelancer.com, being the international partners of Malaysia Digital Economy Corporation (MDEC), can be a platform that could help the people tap into potential customers,” eToro said in a statement.

Additionally, it urged Malaysians to consider trying stock investing as one of the ways to generate income and sign up for an online investment platform that offers tips and smart features, allowing everyone to get a hand in investing.

“This may be difficult to consider now, especially when you see stock markets worldwide are all in the red but start small. You only have to invest small amounts, allowing you to dip your toe in the water.

“Invest in what you know and what you’re interested in and for those who don’t have the time or knowledge to do it on their own, they can choose to copy other people’s investment strategies on platforms like eToro,” it said.

The company also suggested businesses to rethink their strategies and take their business from offline to online as a way to keep the business alive.

“With the Internet, the world can truly be your oyster, all without you having to leave the safety and comfort of your own home,” it said.

Realising this can make a difference between a person being a victim of the current circumstances or coming out stronger and hopefully more financially sound, it added.

eToro is a social trading and multi-asset brokerage company that focuses on providing financial and copy trading services with registered offices in Cyprus, Israel, the United Kingdom, the United States, and Australia.