Guide to using your phone to generate income: From theory to practice

The pandemic has profoundly impacted the way people do business and earn a living. In that context, mobile phone earning has become an unavoidable trend, especially in Vietnam. With just a smartphone, you can participate in various money-making methods — from completing small tasks to financial investments or e-commerce trading. This article will help you understand the different ways to earn money through mobile applications and how to choose the most suitable one.

The three main mobile earning methods in Vietnam

1. Trading apps - For those who want to increase their assets

This is currently the fastest and most effective way to make money. You can access hundreds of different financial assets through a single app. These assets may include stocks, indices, cryptocurrencies, or commodities from global markets.

The earning method here is based on price differences. When you forecast that the price will rise, you buy; when the price reaches your target, you sell to realize profit. The advantage of this model is that you can start with a small capital but still earn high interest — potentially over 10% or more if the trade is successful.

However, this method requires you to have knowledge of financial markets and analytical skills. Transaction costs usually range from 0.01% to 0.03% of the transaction value.

2. Online selling apps - For those with goods

E-commerce has developed strongly in Vietnam with many major platforms like Shopee, Tiki, or Lazada. To earn money from this method, you just need to:

• Prepare the goods you want to sell
• Register an account on e-commerce platforms
• Create a store and list products
• Wait for customers to place orders

The amount you earn depends entirely on the selling price and market demand. However, you will need to deduct a 15% - 20% commission fee for successful orders. The advantage of this method is low initial investment, but you must regularly use the app to communicate with customers and process orders.

3. Task-based apps - For those with free time

This is the simplest way to earn money on your phone but also the lowest income method. You will receive tasks such as:

• Filling surveys
• Watching ads
• Answering questions
• Inviting friends to download and use the app

For each completed task, you receive rewards ranging from 5,000 VND to 100,000 VND depending on difficulty. The benefit is no initial capital required and low skill requirements, but the downside is it takes a lot of time to earn a small amount of money.

Comparison table of earning methods

Popular mobile earning apps

Shopee is currently Vietnam’s largest e-commerce platform with a simple and quick store registration process. The app often offers promotional policies to attract sellers, and has a large potential customer base. If you have goods to sell, Shopee is a place with many buyers.

Grab offers many earning opportunities beyond ride-hailing. The app frequently runs challenge programs and cashback offers when you use their services. For example, completing 5 rides can earn you 20,000 VND - 50,000 VND into your e-wallet. This is a way to earn money while fulfilling daily needs.

Additionally, banking apps also allow you to save money with interest rates from 4% - 7%/year. Although the returns are low, they are very safe for those who want to preserve capital.

Important notes when choosing earning apps

Verify credibility

Making money online is simple but can easily be exploited by fraudsters. Before installing any app, you should:

• Check the information of the company providing the app
• Read user reviews on Google Play or App Store
• Find out if the company is legally licensed
• For financial trading apps, only choose those licensed by the government authorities

Warning about risks

• Task apps may contain viruses or malware to steal personal information
• Unlicensed trading platforms may seize deposits
• Financial transactions carry the risk of capital loss, especially for inexperienced users

Choose according to personal situation

• Students or those with plenty of free time: Task completion or online selling
• People wanting to invest and save: Use banking apps
• Experienced individuals with market knowledge: Financial trading
• Those with goods: Sell on e-commerce platforms

Conclusion

Mobile phone earning is no longer unfamiliar but has become a trend in Vietnam. Depending on your circumstances, knowledge, and time, choose the most suitable method. Whatever you choose, always be cautious of unverified apps and equip yourself with necessary knowledge before starting. The world of mobile earning is full of potential, but success depends on your thorough preparation.