Many of us like the idea of making more money. You might be saving for something special, or attempting to pay off your debts. To get started with some great ideas, here are five investment options.

1 . Cryptocurrency

Cryptocurrency refers to a digital asset, or digital coins. These digital coins can be traded, or used to pay for goods and services. Cryptocurrencies are distributed using a special ledger technology called blockchain. Unlike conventional money, cryptocurrencies aren’t governed by the bank or a government authority. Bitcoin is the most popular currency, yet there are other currencies including Etherreum, Litecoin and XRP. To learn more about investing in cryptocurrency take a look at My Blockchain Life.

2. REITs

REIT stands for real estate investment trusts, when you invest in REITs you manage or own real estate, using the property to generate an income. A REIT might involve investing in an actual property, or in the mortgage on that property. REIT investors can make a direct investment with an organisation, or through mutual funds or ETFS. REITs can offer excellent returns on a long term basis.

3. Invest in business

If you’re looking for a great investment option, why not invest in a new business? Individuals looking to invest can check out the Worthy Bonds platform. The site connects individuals with entrepreneurs who are looking for financial support. There are several advantages to investing in a small business such as:

• You’ll be helping to support the local economy.
• The potential to generate a great ROI.
• The chance to get involved in an exciting new project.

4. Use investment apps

Investment apps are a great place to start, these apps are suitable for both novices and experienced investors. There are lots of popular tools to choose from, including:

Interactive Brokers is a great app for businesses and individuals. Using the app you can access stocks, forex and futures, across various markets. Using real-time data investors can transmit orders instantly. There are plenty of great features including charts and quotes, market scanners and SmartRouting tech.

Acorns: The Acorns app is all about making the investment world simple. With the help of Acorns you can make automatic investments with your spare dollars. Using the app you can build a portfolio, establish recurring investments, and get plenty of tips.

5. Certificate Of Deposit 

Perhaps you’re looking for a low risk investment option? In this case, consider opening a CD account. All you have to do is pay a lump sum into your Certificate Of Deposit Account, and from this point, you can make some great returns on the interest. Remember, attempting to withdraw the money before a pre-agreed period of time will incur a penalty.  First you should shop around a little to find an account with the best interest rate.

To conclude

Before making investments, it’s important to conduct research. You’ll need to understand the risks, and how much you can afford to invest. Educate yourself about all your different options before making any firm commitments. With the right investment opportunities you can save money and improve your lifestyle.