Let’s face it, the idea of the mobile platform being financial generative is nothing new. You need only look at the mobile gaming sector to reaffirm this, is this market achieved a global value of $108.9 billion at the end of 2017.
Over time, smartphones have also become increasingly valuable pieces of real estate by themselves, meaning that actual handsets can now be monetised and used to generate income for everyday users.
In this post, we’ll look at how you can successfully monetise your smartphone at various stages of its life-cycle!
1. Access Smartphone Deals that Offer you Cashback
Incredibly, the process of monetising your smartphone actually starts at the point when you’re making an initial purchase.
If you choose to invest in a contract phone, for example, you may be able to access a deal that includes cashback through certain distributors. The value of this sum usually equates directly to the price of the handset, with premium smartphones typically offering the highest rate of return to customers.
If you were to buy the coveted iPhone X through the fonehouse website, you’d currently be rewarded with cashback to the value of £25. Investing in the 64GB iteration of the iPhone 8 can also secure you £35 in cash, while the Galaxy Note 8 offers a return of £10.
This is definitely something to look out for, while it’s also increasingly commonplace on deals available throughout the UK.
2. Utilise Apps Such as Swagbucks and BetterPoints
Once you begin to use your phone on a frequent basis, you’ll also identify additional opportunities to generate incremental income.
These opportunities tend to lie in the form of diverse apps and online platforms, which enable you to earn points for completing perfunctory tasks. Your accumulated points can then be translated into financial rewards and cash payments, providing frequent boosts to your bank account.
Swagbucks represents an extremely prominent example, and one that allows you to earn points through online searches. These can then be redeemed for coupons, retailer gift cards and sweepstake entries, while the platform is available to mobile users in the UK, Canada and the U.S..
You can also monetise your smartphone through apps such as BetterPoints, which allow you to accumulate points while walking, cycling or travelling via public transport. These can also be redeemed for gift cards, so they come in particularly handy during the festive period!
3. Recycle your Handset for Cash at the End of its Life-cycle
When your handset reaches the end of its life-cycle, there may be a temptation to simply discard it. Instead, you’d be far better served by recycling it for a predetermined cash value, based on your choice of service provider and the condition that your phone is in.
Recycling your handset represents a relatively quick and easy process, which requires you to send your old phone through the post before an agreed amount of money is dispatched in return.
The good news is that providers will generally accept smartphones in all conditions, although its precise level of wear and tear will impact on its redeemable value. A valuation will be conducted prior to a sale being agreed, and while there’s no obligation to sell you will need to accept an offer that is below the handset’s original market value.
In general terms, recent iPhone models tend to offer the best value from a recycling perspective, while older Nokia’s are also a viable source of revenue.
Lewis is a blogger and researcher from the UK. He continues to work with a number of brands and websites, including Life Hack, Career Addict and Investopedia.
