Bamboo Investment App Review 2022: How Does It Work?August 11, 2022 2022-08-11 18:16
Bamboo Investment App Review 2022: How Does It Work?
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Investing in the stock market is one of the most profitable means of making money. And bamboo Investment App makes this happen. But for some countries like Nigeria, buying stocks from foreign companies in the United States of America and China was next to impossible. It required an international broker, who usually charged a very high fee.
This issue has been a significant hindrance we have around here, but thanks to some people who could correct it by establishing platforms that allow Nigerians to invest in the stock exchange without the help of a broker.
With the advent of stock investment apps, one is no longer limited by geographical location. You can now easily buy stocks from the comfort of your home with the use of your Smartphone.
That’s why I will introduce those who haven’t heard about the INVEST BAMBOO APP, but before I go to this app, I will explain what stock exchange means and how to make money by buying or selling a stock exchange.
What is stock?
A security known as a stock is a financial instrument that reflects ownership of a portion of a company. It gives the owner of the stock the right to a piece of the corporation’s assets and profits that is proportional to the amount of stock that they own in the corporation. Given this information, it follows that you are investing in the stock of international corporations.
You can “earn on income through diversification,” “diversify an investment portfolio,” and “become a stakeholder in foreign and worldwide enterprises” if you invest in stocks. These are just some of the benefits that you can receive from investing in stocks.
Now, let’s get down to the nitty-gritty: what exactly is the bamboo investment app?
One of the several stock trading apps available in Nigeria, Bamboo is an investment tool that allows users to buy, hold, or sell US and Nigerian equities.
Bamboo is an online investment platform that also goes by the names “BamBoo Investment” and “invest bamboo.” It grants Nigerians unrestricted access to invest in over 3,000 stocks listed on U.S. stock exchanges and the Nigerian stock exchange through the use of an app. Bamboo is also known as “BamBoo Investment.”
Downloading the Bamboo app, reading and following every guideline written in this article, and letting me show you precisely what you need to know about it are the only things you need to do if you’ve always wanted to buy shares from top companies like Nike, Apple, Facebook, Twitter, Tesla, and Amazon, amongst others. If this is something you’ve always wanted to do, the only thing you need to do is download the Bamboo app.
When you download the Bamboo app on your mobile phone, you will be able to buy local stocks from firms such as Zenith bank and GT bank, as well as overseas stocks from companies such as Tesla, Apple, and Facebook, amongst others.
You can purchase, hold, or sell US and Nigerian equities with the help of the Bamboo investment app, which is one of the many stock trading apps currently available.
Bamboo was established by two persons with the goal of simplifying and reducing the number of obstacles and complications associated with purchasing stocks. Yanmo Omorogbe and Richmond Bassey are the two individuals who started the company. While Richmond Bassey serves as the Chief Executive Officer, Yanmo Omorogbe is responsible for the company’s overall growth.
Because you don’t need to be in such places before owning a percentage of their company, this app has helped a lot of individuals become great shareholders in a lot of huge companies even though they haven’t been there. This has helped a lot of people become great shareholders. You only require the appropriate conduit, such as bamboo in this case.
Is bamboo invest a legitimate and trustworthy software to use?
People’s minds have been filled with a great deal of uncertainty regarding the legality and security of bamboo in recent years. This discussion is unavoidable, particularly in this age when practically everyone is attempting to extort and con each other.
However, there are some facts and reasons why I know the bamboo invest app is legit and safe to use, and I will explain them below.
- They have a partnership with registered and regulated companies by the Nigerian Securities and Exchange Commission. This registration guarantees its authenticity.
- Their brokerage partner in the US is duly registered and a member of the United States Securities Investor Protection Corporation (SIPC), responsible for ensuring each user’s account up to $500,000.
- All accounts are held by their partners for safety and transparency reasons.
- All the US trading accounts on the Bamboo platform are held by DriveWealth LLC, a company that is a regulated member of FINRA/SIPC. Also, all Nigerian trading accounts are held by Lambeth capital, a firm regulated by the Nigerian Stock Exchange (NSE) and Securities and Exchange Commission (SEC).
- Bamboo has a 4 out of 5 on Google playstore ratings and has received many positive reviews.
Check out some of the reviews
“This wonderful application for investment and Allow you to earn good income without stressful Your self, they make everything look beautiful.
SoI recommended this application to you, try it you Wouldn’t regret. I assure you.”
“I love this app. They explained everything to your understanding. I haven’t deposited, though, but I hope to do that soon.
What scared me initially Was the BVN or National ID they asked for, but decided to give it a trial. From what I’ve seen, I think my information is safe.”
“The app has a lot to improve. The commission is charged For everything. When buying, the exchange rate is much higher than the rate when making withdrawals.
I” ll Advise they reduce their current minimum deposit From $20 to like $5. Meanwhile, minimum Withdrawal is $300, should be reduced to $100.”
- The bamboo app is very secure and also boasts of having bank-level security. The app uses state-of-the-art data encryption to protect personal and financial information. It also employs two-factor authentication (2FA) for additional protection.
These pieces of evidence show the legitimacy of the bamboo investment app.
What are the Features of Bamboo?
The bamboo app is programmed so that if you aren’t literate, you can still operate it without any problem. The following are features available on the bamboo invest app.
- The bamboo app is available for Android and IOS, which means apple product users like iPhone users can use the app.
- The minimum capital range isn’t much compared to the other stock exchange platform. With just $20, you can start making your money on the bamboo invest app.
- The documents needed for verification on bamboo aren’t as complex as other exchange platforms. It includes the following;
- Government-issued ID is one of the problems for Nigerians since almost everyone hasn’t gotten the chance to get their permanent national ID card. However, you can make use of your NIN also.
- Verified email
- Verified and active phone number
- Available payment options include Bank Transfer or debit cards such as VISA, MasterCard, and Verve cards issued by Nigerian Banks.
- Bamboo doesn’t have a specific time you should hold your asset. You are allowed to hold as long as you want.
- One of the reasons people love the bamboo app is that it is equipped with a chart feature that helps users decide whether to buy or sell. The bamboo app also allows you to track the returns on your purchased investments.
- Withdrawals: the least withdrawal amount allowed on Bamboo for foreign securities is $500. When withdrawing to a Naira account, you will be charged a 45 Naira fee. When withdrawing to a USD account, you will be charged a $45 fee. ₦300 is the minimum withdrawal to a Naira account.
- Commission: when you trade the U.S Stock Market, Bamboo will charge you a 1.5% commission. All associated charges will be displayed on the review order page before being asked to confirm the transaction.
- Security: The bamboo app uses state-of-the-art data encryption to protect personal and financial information. It also employs two-factor authentication (2FA) for additional protection.
How to invest in the Bamboo Investment App
The following are procedures to follow when investing in the bamboo app;
To begin buying shares using the Bamboo app, you must first download the app. Android phone users can get the app from Playstore by clicking here, while iPhone users can get the app from the Apple app store through this link.
Information required during sign-up includes name, email address, strong password, etc. In filling out your profile, the required information may come from the following categories:
- Personal information
- National and Residential information
- Bank account details
- Occupation and next of kin
- Document uploads
- Fund Your Wallet
You have to fund your wallet before buying stocks on the Bamboo app. You can fund the bamboo account through Flutterwave, Nigerian bank transfer, wire transfer, and Barter.
Flutterwave accepts almost all the debit cards issued by Nigerian Banks, the likes of MasterCard, VISA, and Verve cards, as well as your American Express and Discover cards.
You can also make a bank transfer from your naira bank account. If you choose to wire the money to their US bank account or their USD Domiciliary account, their Bank Account details display once you select this funding option.
Users with a Flutterwave Barter account can also fund their Bamboo account using this option. It takes about 1 to 2 business for the funds to be deposited in the Bamboo.
To fund your account;
- Click on the Account icon at the bottom of the app.
- Click on deposit money.
- Enter your desired amount (minimum of $20, maximum $5 000).
- From the displayed list, select your desired payment option and follow the instructions on the screen.
- Buy stocks
After funding your account, you can proceed to buy stocks. To buy stock on Bamboo, do the following.
- Decide on the company you want to buy your stocks from.
- Go to the details page of the stock and tap on ‘Buy.’
- Select your funding option of choice and input the details of your order
- Click on ‘Review Order’ and tap on ‘Buy.’
How to withdraw from your wallet to your account
To withdraw funds from your Bamboo wallet to your local bank account, do the following;
- Tap the withdraw button on the screen and then select the account option.
- Supply the details requested on the displayed page, noting that Bamboo only pays into accounts that bear your name.
- Click on withdraw.
Your withdrawn money will be credited to your account within 2 to 3 business days. Note that if you made your deposit from a Naira payment option, you would only be allowed to withdraw to a Naira account. If you made your deposit from a USD payment option, you would only withdraw to a USD account.
The least withdrawal amount allowed on Bamboo for foreign securities is $500. ₦300 is the minimum withdrawal to a Naira account. When withdrawing to a Naira account, you will be charged a 45 Naira fee. When withdrawing to a USD account, you will be charged a $45 fee.
Watch How To Invest With The Bamboo App In Nigeria
Bamboo is a legit platform for investing in stocks. Still, it does not currently provide investment advice, and individual investors should make their own decisions or seek independent advice, which means you have to check out which shares you want to invest in.
The value of investments in stocks/shares can go up and down, and you may receive back less than your original investment. Bamboo is a technology platform, not a registered broker-dealer or investment adviser.
So, there you have it! Everything you need to know about the Bamboo Investment App. If you were looking to invest your money safely, this platform would be a good idea.
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