Talking about investment apps to invest in, the Bamboo investment app is one of the ones to note, we’ll be explaining all you need to know about this app.
Before we dive into the app’s features and essential details, let’s quickly jump on what the app is all about and how it came into existence.
Introducing the Bamboo Investment App
Bamboo is a cutting-edge digital platform that offers seamless access to the virtual buying and selling of U.S. stocks, all at your fingertips. The app enables you to participate in the dynamic U.S. stock exchange without the need to physically travel.
Using the app you get access to over 30,000 U.S. stocks, all available for trading on the virtual platform. Whether you’re on your smartphone or personal computer, you can easily invest and earn with this stock exchange market from the comfort of your home.
Hailing from its 2019 debut in Nigeria, the Bamboo investment app is aimed at empowering Nigerians (especially the youths) to invest in prominent American companies’ shares like Facebook and Google. However, it is important to note that you can only invest in publicly-traded companies.
We’ll now talk about what you really want to know, which is the benefits of investing in this app, and other important details.
How can I invest with Bamboo Investment App?
Embarking on your investment journey with Bamboo has been made easier effortlessly. Here’s how:
- Navigate to Google Play Store for Android or Apple Store for iOS devices.
- Download, install, and launch the app.
- Create your account by filling in the application form, registration includes your BVN verification.
- Within an hour, you’ll receive an email confirming your Bamboo application’s approval status. If approved, follow step 5 to begin your investment journey.
- Fund your wallet with your desired investment amount, then go for the company you’d like to invest in.
Investing your funds to purchase shares has never been easier! Simply load your wallet and buy your desired shares with just one tap.
Talking about the investment amount, the minimum you can use to invest in the bamboo investment app is N15,000, this is the regularized price of any US company’s share. There is a wide range of analytic tools on the app to help you keep tabs on your investments.
How to sign up or create an account on Bamboo
Registering an account with Bamboo is easy all you need to do is:
- Visit app.investbamboo.com on any device (phone or PC).
- Tap on the “Sign Up” button.
- Fill out the registration form with your real information.
- Once done, tap on Submit.
Following the above steps can help you get your account created instantly on the bamboo investment app.
Bamboo App FAQ
How do I have the Bamboo App downloaded?
Downloading the Bamboo investment app is straightforward. Just navigate to the Google Play Store on Android or Apple Store on iOS devices, there you can just search and the installation process is done within minutes.
What are the Interest rates like on the Bamboo app?
Your earnings with Bamboo depend on your personal investment decisions, for example, each company has its own growth and share price so will your ROI (return on investment) vary.
It is important to thoroughly research a company’s history before investing in order to ensure that you receive the expected returns.
Note that un-invested funds in your Bamboo wallet yield an interest of about 0.05% annually which is great compared to traditional bank rates.
How do Stock Purchases work on Bamboo?
Purchasing stocks via Bamboo is easy and can be done by doing these:
- Select your desired stock.
- Click on “Buy.”
- Choose your preferred buy option.
- Input your order details.
- Review your order.
- Confirm your purchase.
What are the requirements to be met to sign up on Bamboo?
To ensure your eligibility, you must fulfill these criteria:
– Age: Must be 18 years and above
– Accurate personal information provide and verified by ID
– Unique email and username not linked to an existing account
– Agreement to the platform’s terms and conditions, acknowledging investment risks
– Upholding account security and timely reports of breaches
– Prohibition of account sale or transfer to mitigate fraud risks
– Wise and strategic investment practices
What is the Investment duration on the Bamboo app like?
You are allowed to hold your U.S. assets on the Bamboo app for as long as you wish. When the time is right, you can sell your stocks with no issue.
Is it possible for me to own multiple assets on Bamboo?
You can expand your portfolio with multiple assets on the Bamboo investment app. While currently limited to U.S. Stocks and ETFs, the upcoming features will allow you to invest in dollar-denominated mutual funds and Eurobonds simultaneously.
The aim of Bamboo is to give unlimited access to global and foreign currency investment options to all African countries.
Understanding Charges for Deposits and Withdrawals on Bamboo
Bamboo does charge investors on their transactions both deposits and withdrawals, the charges are transparent and straightforward:
Deposit Charges: (Capped means will not be more than)
– Naira Card: There is a 1.4% charge on the Naira card and it is capped at ₦2000 maximum.
– Naira Mobile Bank Transfer: There is a flat rate of ₦150 regardless of the amount you deposit.
– USD Card: There is a 2.9% charge on USD card payment
– Barter Transfer: The barter transfer option fee is 1.4% on any amount and it is capped at ₦2000 maximum.
– Naira Internet Bank Transfer: When you deposit you get a 1.4% fee which is capped at ₦2000 maximum.
– Instant Deposit: For instant deposit, you are charged an additional fee of 0.1% (minimum $1, maximum $10).
Trade, Withdrawal Fees, and Taxes
– Trade Fee: 1.5% commission for buying and selling U.S. stocks. As mentioned earlier, you can hold your stocks for as long as you want, you will not get charged unnecessarily for keeping money in your wallet or holding stocks.
– Withdrawal Fee: For every withdrawal, there is a charge fee of ₦45 to Naira bank accounts and $45 to USD bank accounts. If you deposited via USD payment, you can withdraw to a USD account.
Individuals who purchase stocks outside of the United States are subject to a 30% withholding tax on dividends, which is regulated by the U.S. government.
If you need more information on that, you can check their terms of service and disclosures here investbamboo.com/legal
Bamboo customer contact information
To contact Bamboo’s customer care:
Address: Plot 1, Block 22, Babatunde Anjous Ave, Lekki Phase 1, 106104, Lagos
Email: [email protected]
The Bamboo investment app and platform offer Nigerians an avenue to invest and grow their wealth. Harness your funds’ potential rather than letting them lie dormant in low-interest bank accounts.
However, you must keep in mind that prudent decision-making and due diligence are important when making use of these investment opportunities.
Do not invest more than you can avoid losing, this is to avoid a financial crisis at any cost.