You might not realize it, but your closet could be a treasure trove for making extra cash. Anything from clothing to used mobile devices to vinyl LPs are potential products to sell in the secondhand market. If you’re looking to make a bit of extra money — while also clearing up some clutter — an online marketplace might be a good place to sell your stuff.

An online marketplace is a type of website or app where third parties can sell their goods or services. Most online marketplaces are designed for consumers to buy and sell each other’s stuff, and many are predominantly for secondhand items. Selling used items is an easy way to make money off of things you already own, which can go toward building savings or covering a nonessential purchase. Plus, selling secondhand can have a positive environmental impact.

Why sell your stuff online?

Selling your stuff online is convenient, safe and environmentally friendly. Popular online marketplaces have audiences that are much larger in scale than places where you can sell stuff in person. With an online marketplace, anyone in a certain area, country or even the world can search for an item they’re looking for and find your listing.

Selling secondhand is a great way to be more eco-friendly, too. The Environmental Protection Agency estimated that 17 million tons of clothing and textiles were dumped into landfills in 2018. Furthermore, the fashion industry is responsible for 2 to 8 percent of carbon emissions globally, according to the United Nations Environment Programme. Reusing and recycling used clothing and other products limits the production of new items (and therefore carbon emissions) and reduces waste.

Finally, online marketplaces are generally considered a safe way to make transactions. You don’t have to meet the buyer in person, and transactions are mediated by the site. The marketplace will almost always come with some guardrails for processing transactions, including seller protection, tax calculation and customer service. As long as it’s a trusted site, you can be confident that you’ll receive the money from the buyer before shipping out the item.

Best online marketplaces to sell your stuff

1. Etsy

Etsy is designed for independent creators, focusing on handmade products, vintage items and artwork. According to the site, there are 31.7 million active buyers, exposing you to a wide audience when you make a listing. While most Etsy sellers are based in the U.S., its services are available worldwide.

Once you make an Etsy account, you can open a “shop,” where all of your listed items are featured on a web page. Each item is listed …….

Source: https://www.bankrate.com/banking/savings/best-online-marketplaces-for-making-money-selling-stuff/