How To Make Money On Reddit
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How to Make Money on Reddit
Reddit has grown its popularity over the past years. Millions of people are making this site as their go-to for almost everything under the sun – from tips on home improvement to starting an investment. While this platform becomes a source of knowledge and information to most of its users, others have used it to earn money.
Can you possibly make money on Reddit? If so, how can you use this platform to make a decent earning?
Continue reading on to learn the answers to these questions.
What is Reddit?
Reddit stands true to its slogan as the “front page of the internet.” Launched in 2005, this American social news aggregation has more than 330 million monthly active users. This social sharing website is a massive collection of forums. Users submit texts, pictures, and links which everyone can then vote on. The best content gets the most visibility while downvoted content gets less attention.
It’s easy to get lost in this site, especially if you’re just looking at Reddit for the first time. It is a massive site but it’s divided into more than a million communities known as “subreddits”. Each subreddit is devoted to a specific topic and starts with /r/, which is part of the URLs that Reddit uses. For example, /r/boardgames is a subreddit created for people to discuss board games while /r/nba is a subreddit for the fans of the National Basketball Association. In most cases, subreddits carry their own rules, themes, and expectations.
The site’s homepage displays a feed of trending posts from different subreddits. You can also sort the posts using different categories such as new, hot, controversial and more. Use the search bar at the top part of the page to find posts and subreddits related to a particular keyword.
You will see up and down arrows as well as numbers next to a post. These arrows allow you to upvote or downvote content. Upvoting a content means that you find the post relevant and helpful for other people. Downvoting, on the other hand, means that you find the post irrelevant or off-topic. This system decides which post becomes trending on Reddit.
How to Make Money on Reddit
Reddit has become the front page of the internet. This platform allows its users to find useful information and stay updated on news and trends.
But can you make money on Reddit?
There is no direct way of earning money from this platform. However, there are tons of indirect means to use Reddit for money generation. You can find tons of opportunities here to either grow your own business or find several side hustles to earn some extra cash.
Here are some ways to make money from Reddit.
Advertise your Skills
If you have skills to promote, then you will find /r/forHire as a valuable community. This subreddit allows you to advertise your skills to other members. You have more chances of scoring a job if you are proficient in web development, graphic design or other technical skills.
ForHire is not only limited to finding jobs though. You can also hire skilled workers from this community if you need some work done.
Promote your Business
Are you a startup company that wants to expand your reach? Or perhaps you’ve just started your business and want to promote your brand?
You can use Reddit to promote your own business. However, you have to be very cautious about how you do this. When Reddit gets a hint of over-promotion, you’re more likely to get banned.
Using Reddit solely for the intention of promoting your business is not an effective strategy. Instead, you have to become an active user first and get involved in your communities. Once you have established your contribution, then you can start promoting your business.
Find Online Work
r/WorkOnline is a subreddit dedicated to helping people find legit work online. You can find several opportunities here to make money online, such as tutoring jobs or freelance writing gigs. Additionally, this community shares several tips on how to monetize blogs or websites, find the best online platforms, etc.
There’s definitely more to Reddit than adorable photos of cats. It’s a haven for those that are on the lookout for side hustles. Here’s a list of best subreddits perfect for budding side hustlers.
Look for Freelance Gigs or Short Tasks Opportunities
If you’re looking for short gigs to stretch your budget, you will find /r/Beermoney very useful. Undoubtedly, this is one of the most popular subreddits having more than 300,000 subscribers.
This community provides tons of money-making opportunities. Most of these include writing product reviews, participating in online surveys, completing short tasks, etc.
Do Jobs Below Market Rate
/r/SlaveLabour is a subreddit for people who are in desperate need of earning a few bucks. From the name of this community, you would know that gigs here won’t make you earn a huge amount of money. Though pays are relatively low, most of the tasks don’t require highly specialized skills. These tasks are also easier and get completed faster compared to jobs posted on /r/forhire.
With its more than 130,000 users, there’s no shortage of people looking for works done. You can find a wide range of tasks from data entry to freelance writing.
Get Paid to Sign Up
If you’re looking for some easy ways to make money online, you should not miss /r/signupsforpay. This community has more than 19,000 members eager to help those who want to make both ends meet.
Simply scroll through the dashboard and you will see several posts about websites where you can sign up for free and earn points or rewards in return. A lot of these posts are from fellow users participating in a referral program. They give you an invite link, you simply follow the registration process and you receive your bonus.
There’s no easier way of making money online than signing up on several websites and get rewarded in return.
Start Your Own Business
There were more than 30.2 million small businesses operating in the US. Startups are on the rise, however, only 2 in 5 startups are profitable. The others will either continue to lose money or break even.
Starting your own business can indeed be terrifying. You have to be thorough in every step, or else everything could break down. Thanks to subreddits like /r/startups, you can find a group of people who are willing to guide you on this journey. This community offers advice, tips, and solutions. It’s a perfect community for everyone who is planning on starting their own business.
Loaning money to someone often comes with a high risk. This is why a lot of people go by the saying “Don’t lend money to friends or family unless you’re prepared to lose either your money or your friendship.”
Despite the risks, lending money is a great source of passive income. Subreddit /r/borrow provides a platform for those who are searching for a short-term loan and people who offer to lend money with a small interest.
Most of the requests on this community are a quick fix to unexpected expenses. For example, one guy needs $100 till tax return or his next paycheck. If you think this type of passive income is perfect for you, I suggest you start with small amounts. You can potentially earn $10-$20 interest for $100 – $200 that you are lending.
There are other requests for bigger amounts too with higher interests, but be wary with these opportunities. There’s always a risk that you will not get paid back. If this unfortunate event happens to you, you can file a “submit a PayPal dispute” to get your money back.
Here are additional tips that you should remember in lending money:
- Always check the user’s borrower history.
- Never loan money to new accounts.
- Do your own investigation first. Visit the user’s profile, check his past comments as well as his karma.
- Always use PayPal.
We all know karma as a law of cause and effect. It’s a consequence of your actions. When you do good then you will also receive good things.
Reddit Karma doesn’t work this way though. Instead, it’s the accumulation of scores that you get for commenting or posting on Reddit. It is displayed on your profile and is broken down into Post Karma and Comment Karma. Some users have earned millions of Karma.
Though Reddit Karma can’t be monetized, having big Karma points have its perks. You can post and comment as much as you want. Additionally, you get more credibility which can help you earn more followers. You can also join exclusive subreddits.
A lot of users have found ways to monetize their social media account. Running ads, participating in affiliate marketing and sponsorship are just some of the methods that you can use to turn your social media into a money-making platform.
Sadly, you can’t directly monetize Reddit. But this doesn’t mean that this website is not useful at all to those who are looking for ways to make money online. If you follow the tips listed above, you would surely love Reddit not just for the information and knowledge that you get from it. You would also learn to appreciate this platform for the many opportunities that it provides to earn a decent living online.