Bamboo Investment App Review 2022: How Does It WorkApril 29, 2022 2022-05-11 15:00
Bamboo Investment App Review 2022: How Does It Work
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.
Table of Content
What is stock?
A stock is a security that represents the ownership of a fraction of a corporation. It entitles the stock owner to a proportion of the corporation’s assets and profits equal to how much stock they own. This fact means you are buying shares in foreign companies.
Investing in stocks offers you some benefits like “earning on income through diversification,” “diversification of an investment portfolio,” and “becoming a stakeholder in foreign and global companies.
Now to the main point, what is the bamboo investment app?
The Bamboo investment app is one of Nigeria’s many stock trading apps to buy, hold, or sell US & Nigerian stocks.
Bamboo, also called “BamBoo Investment” or “invest bamboo,” is an online investment platform that gives Nigerians unrestricted access to invest in over 3,000 stocks listed on the U.S. stock exchanges and Nigerian stock exchange through an app.
If you’ve always wanted to buy shares from top companies like Nike, Apple, Facebook, Twitter, Tesla, Amazon, etc. the only thing you need to do is download the Bamboo app, read and follow every guideline written in this article as I will show you precisely what you need to know about it.
When you download the bamboo app on your mobile phone, you can buy foreign stocks from companies like Tesla, Apple, Facebook, etc., and local stocks from companies like Zenith bank, GT bank, etc.
The Bamboo investment app is one of the many stock trading apps that allows you to buy, hold, or sell US & Nigerian stocks.
Bamboo was founded by two men whose vision was to remove the hurdles and complexities involved in buying stocks. The two founders are Yanmo Omorogbe and Richmond Bassey. Yanmo Omorogbe is the Director of growth, while Richmond Bassey is the Chief Executive Officer.
This app has helped so many people become great shareholders in so many big companies they haven’t been to because you don’t have to be in those places before owning a fraction of their company. All you need is the right channel, such as bamboo.
Is the bamboo invest app legit and safe?
There have been so many questions in the heart of people on if bamboo is legit, safe, or not. This debate is inevitable, especially in this generation where almost everyone is trying to extort and scam 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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