If you have some cash sitting around you might be wondering “how can I double my money in 1 hour?”.
It sounds great, right?
Turning $1000 into $2000 in just 1 hour!
But is it possible? And how can you do it?
In this post, I'll explore how to double your money in 1 hour, some methods to avoid, and much more. Let's get started!
Best Ways to Double Your Money in 1 Hour
Flipping is one of the best ways you can double your money in an hour.
This could be anything from flipping furniture, to flipping electronic devices, and more.
Here's exactly how you could double your money with flipping.
Let's say you find a piece of furniture on Facebook Marketplace listed for $25. In many cases, you might be able to find free furniture that you can instantly turn a profit on. Check out this piece I found in my area!
By cleaning it up and taking some high quality photos, you could re-list it for $50 to double your money in an hour or less in some cases.
By attending a garage or yard sale and spotting a few cards that are worth something, you can usually get a great deal on these if the owner doesn't know.
Some cards can be worth over $100 and you could pick them up for under $10!
There are plenty of options to flip your money, but it's all about the effort you put in. You'll need to spend time finding deals, taking photos, and listing your items – but if you don't mind the work this is a great option.
Invest in Crypto
Cryptocurrency like Bitcoin, Ethereum, and others has become extremely popular over the last few years with some coins achieving large gains of over 1000%.
If you want to double your money in an hour and don't mind risk, investing in crypto is worth considering.
Some people will use a trading strategy when purchasing crypto meaning they will buy and sell it throughout the day in order to profit. While this can be effective, it can be extremely difficult to time the market and you can easily lose money.
There are many platforms you can use, but my favorite is Titan.
With Titan you can invest in a variety of assets including crypto, stocks, real estate, and even venture capital to grow your money and build wealth. And you can get started with just $100.
They have a team of professionals that manage your investment so you don't have to worry about it.
If you want to manage your crypto yourself, Gemini is another great platform.
Day Trade Stocks
Day trading is another possible way to double your money in an hour, but just like crypto, is risky if you don't know what you're doing.
Picking and choosing which stocks will go up and down in a matter of minutes or hours is difficult, even for the most experienced traders.
For example, as a trader, you're looking for small gains. So if you can buy Apple stock for $140 and sell it for $142 a few minutes later, this can add up. It can take many trades before you finally double your money.
While some people claim to use charting strategies – I've found it's more luck than anything.
Claim Welcome Bonuses
There are plenty of free money apps that offer lucrative sign up bonuses to get instant cash.
By using some of these apps, you can double your money in 1 hour or less in many cases.
For example, with Acorns – you'll get a free $10 when you deposit $5.
Some other great bonuses include:
- Fundrise – free $10 when you deposit $10
- Axos Bank – free $100
- Albert – free $150
- Swagbucks – free $5
Invest in Real Estate
They have returns averaging around 8% to 12% annually making it one of the stronger investments you can choose.
With Fundrise, you can instantly double your money thanks to their welcome bonus of $10. You'll get a free $10 when you deposit $10 so it's a no-brainer way to double your money without taking on massive risk.
Arbitrage is the process of taking advantage of price differences in different markets.
This could be anything from sports betting, to finding cheaper prices on Amazon and selling them on eBay, or even reselling services.
For example, let's say you're working as a freelance writer for someone. Maybe they pay you $.15 per word to write articles.
If you can find a writer that accepts just $.05 per word, you can pocket the $.10 difference. On a 1000-word article, this could net you $100 by doing nothing!
However, there is some risk to this as some companies do not allow this and have specific rules against it, so if you get caught, you could lose the work.
There's also retail arbitrage where you search through popular retailers to find items that are highly discounted that you can flip for a profit.
For example, you could buy clearance items at Walmart and turn around and sell them on eBay or Amazon for a higher price.
I've found that it can take some serious time to find items that will sell for a profit, so it might not be the best option if you're looking to double your money in one hour.
Dropshipping is the process of selling items online and having them shipped directly from the manufacturer.
In traditional retail, you'd need to hold inventory and store it until someone makes a purchase, but with dropshipping, this step is eliminated which can save you money and boost your profits.
You'll first need to find a dropshipper and then create an online store, which can be done with Shopify or a few others in minutes. Alliteratively, you can sell your items on eBay or Amazon.
Once you've found a product to sell and have your store set up, all you need to do is drive traffic to it and wait for sales to come in. Once your sales occur, your dropshipper will take care of the rest and ship the product to your customer.
The downside to dropshipping is that it can be difficult to find a reputable dropshipper, and there is also competition from other sellers.
Additionally, your margins are often smaller because the manufacturer will charge more for the service.
Sell Digital Products or Courses
Whether your goal is to double your money in a day or double your money in an hour, digital products and courses can be extremely lucrative if you want to make money online.
Here's how you can double your money in one hour with digital products and courses.
First, you'll need to have an idea for your product or course. This will depend on your audience and passions.
For example, if you have an audience about traveling – selling a packing checklist would make sense.
Once you've determined your product, you can find a graphic designer on a site like Fiverr to have them make your checklist. This should cost less than $50 for a simple checklist.
Next, you can sell your checklist on your site or through a site like Gumroad for $5. If you sell 20 in one hour, you've just doubled your money!
It's important to note that you'll need to find a way to drive traffic to your product. So if you don't have an existing audience (like a blog or social media account), you'll need to think of another way.
The best part of this method is that once your product or course if built, you can sell it over and over again for additional income. It doesn't stop after one hour.
Check out the video below for more info!
Tips When Doubling Your Money
Below are a few tips to help you achieve your goal of doubling your money in one hour.
- Avoid scams. There are plenty of scams when it comes to making money. Try to do your research before investing any of your hard earned money.
- Avoid gambling. Gambling, while a possible way to instantly double your money, is risky. You have a larger percentage chance of losing your money than winning.
- Take it slow. While you might want to double your money in a day or a few hours, try to give yourself more time for a more realistic goal. This will help you to avoid any risky behavior and increase your chance of reaching your goal.
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Can You Double Your Money in Stocks?
Yes, you can certainly double your money in stocks over time.
The average ETF return is around 7% to 10% annually, meaning it should take roughly 7 years to double your money with stocks, on average.
If you do plan to double your money in stocks, it's vital to take a diversified approach. This means not putting all of your money in a single stock.
For example, if you choose to invest only in Amazon stock and they have a bad year, you could lose over 25% of your money. However, it you invest in an ETF or index fund that includes Amazon, you might still be in good shape.
There are several 12% compound interest accounts you should consider if you're looking to invest your money safely.
Final Thoughts on How to Double Your Money in One Hour
Doubling your money in one hour won't be easy, and in many cases, will come with significant risk.
Be sure you can afford to lose any money you use to invest in crypto, day trade, or even gamble as you might not get it back.
The best way to double your money in an hour is flipping because it's one of the less risky ways and a proven method to make money.
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