Hey, folks, have you started investing yet? If “nay,” then what are you waiting for?
In this post, I shared the top three apps you can use to invest and grow your money sustainably in 2023.
You can watch Mr. Jude Umeano as he reveals his top 3 investment apps for 2023 and read the following article.
Post Summary
Short-term Vs. Long-term Investments
A valid question to ask yourself is this: Is your investment goal short-term or long-term?
Notice that I used the word “sustainable” at the beginning of this article!
I used that catch-word because of the story of two financially great men, Warren Buffet and Jay Walker.
I’m sure you know them very well. But in case you are unsure, Warren Buffet is known as the most successful investor ever.
He is one of the world’s top ten wealthiest people, with a net worth of $107.1 billion.
But did you know it took him 46 years to become a billionaire?
On the other hand, Jay Walker became a billionaire less than a year after launching “Priceline” in 1998. But, regrettably, in 2003, his net worth fell to $300 million.
Now, back to the catchword “sustainable.” The story I have recounted proves that short-term gains can be great but not sustainable.
However, long-term investing like that of Warren Buffet is ideal.
As you continue to read this article, I will show you three apps you can use to create wealth through long-term investments.
Top 3 Savings And Investment Apps For 2023
1. Bamboo
Bamboo is a Nigerian-based company that lets you invest in the U.S. stock market with naira or dollars.
Among the investment options on Bamboo are individual stocks, non-dividend stocks, dividend stocks, and exchange-traded funds (ETFs).
Interestingly, the platform guides your investment decisions by classifying the offered stocks. For example, you have:
- The fixed-income ETFs
- The Warren Buffet Portfolio
- Bill Gate’s top 20 stocks, etc.
There is also the option to invest directly in Bamboo for an annual return of 8% in USD.
In addition, when you invite friends to the platform, you earn 1.25% of their deposits.
Bamboo is available on Google Play and the App Store.
Do well to sign up with the referral code “jude710939.”
2. PiggyVest
PiggyVest is a popular savings and investment platform in Nigeria.
It is regulated by the CBN and insured by the NDIC. Impressive!
PiggyVest offers multiple low-risk investment options:
- Flex Naira: You invest a certain amount of Naira periodically for 8% annual interest.
- Safelock: A fixed savings account with an annual interest rate of 12.5%.
- Target: Also, a fixed savings account with an annual interest rate of 9%.
- Flex Dollar: It allows you to invest in dollars for 7% annual interest.
- Investify: Here, you invest in commodities and startup companies for a specified ROI.
Amazingly, you can link your bank card to PiggyVest and set it up so that it can automatically withdraw the amount you want to save from your bank according to your savings plans.
In addition, you earn 1,000 NGN when your referral invests with PiggyVest.
PiggyVest can be accessed on Google Play, the App Store, and a web browser.
Remember to use the referral code “338e66834b0123” to sign up.
Also Read: PiggyVest: How To Maximize Your Savings In 5 Ways
3. Pillow
Note that Pillow Fund has shut down its services in from 31st July 2023.
It cited regulatory uncertainty as the reason for shutting down its services.
Find more details here.
Pillow is a digital asset management platform.
It is registered in Singapore and has $250 million in digital asset insurance and custody through BitGo.
Pillow lets you invest in crypto (BTC, ETH, and stablecoins like USDC and USDT) for returns in a simple manner.
Investing in stablecoins (USDT and USDC) can earn up to 13.68% per year.
This shows that, compared to the platforms mentioned above, Pillow gives a better interest rate on dollar investments.
Luckily, you can also invest in other crypto assets using this platform. For example, BTC, ETH, and MATIC offer 3.08%, 3.50%, and 5.50% APYs, respectively.
If you sign up with the referral code “JUDE,” you receive a 700-naira welcome bonus. You can also refer friends to Pillow for referral bonuses.
What are you waiting for? I will show you how to invest in Pillow in the next section.
How To Invest In Pillow
i. Go to PILLOW and download the app from the App Store or Google Play, depending on your device. Remember to use the referral code “JUDE.”
ii. Once installed, sign in using your email address and fill in all the necessary details.
The next step is to make a deposit.
iii. Go to the homepage to see two deposit options available. Select “Deposit Crypto” if you want to deposit crypto. However, select “Bank Transfer” if you want to deposit naira.
Note:
- When you deposit naira, it will be automatically converted to a dollar stablecoin at the current dollar rate.
- The maximum amount you can deposit at a time is 400,000 NGN. If you want to deposit 800,000 NGN, for example, you must make the transaction twice.
iv. Once your fund is deposited, it automatically starts accumulating interest, and you can top it up or request a withdrawal at any time.
One of the most noteworthy benefits of Pillow is that it converts your savings in Nigerian naira to US dollars.
This means that the value of your naira will appreciate as the naira-to-dollar rate increases.
So, imagine that you funded your Pillow account with 500,000 NGN when the naira-to-dollar rate was 700 NGN.
It’s been a year now; the naira-to-dollar rate has increased to 750 NGN, and you wish to withdraw your savings and accumulated interest.
Interesting! It means that your initial investment of 500,000 NGN is now worth over 526,000 NGN, and you also have your accumulated APY to enjoy. That’s cool.
Conclusion
I hope you enjoyed the post. We have reached the end!
Saving and investing are gateways to financial independence.
Likewise, “consistency” is the goal of long-term investment.
By making a long-term investment, you compound your returns for higher gains.
Luckily, the top three apps in this post offer a great start to your savings and investment goals.
I would love to hear from you. Which of these apps do you wish to invest in?
Leave your thoughts in the comment box, and I will respond.
Remember to sign up for Afibie and join our Telegram channel to learn how to trade crypto profitably.
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