Passfolio is a new investment app that’s calling the attention of the market. Through its US registered broker-dealer, Passfolio Securities, the company aims to democratize the access to US investments in countries like Nigeria, by allowing investors to trade 3,800+ US stocks, ETFs, and REITs from the US market with no commission fees*.
Recently, Passfolio has been growing in African countries like Nigeria and wants to facilitate access to US investments in the region. David Gobaud, Passfolio’s founder and CEO, says:
“People outside the United States often need hundreds of thousands of dollars to invest in the US stock market – we reduce the minimum to $1 to invest in US stocks of your favorite companies”.
What makes Passfolio different from other brokers? Simply put, the possibility of trading and funding your account with cryptocurrencies, through Passfolio Financial*.
Passfolio makes it possible for users to fund their accounts using cryptocurrencies by first converting them into dollars through Passfolio Financial, then moving the dollar proceeds to their brokerage accounts at Passfolio Securities, where users are then able to buy stocks. This way, investors can deposit Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Zcash and other cryptocurrencies and access the US market.
The full list of cryptocurrencies supported by Passfolio (through Passfolio Financial*) can be found below. You can deposit and trade all of them in the app.
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- Zcash (ZEC)
- Filecoin (FIL)
- 0x (ZRX)
- Aave (AAVE)
- Amp (AMP)
- Basic Attention (BAT)
- Balancer (BAL)
- Chainlink (LINK)https://bitcoinafrica.io/how-to-buy-chainlink/
- Compound (COMP)
- Curve (CRV)
- Dai (DAI)
- Decentraland (MANA)
- Kyber Network (KNC)
- Maker (MKR)
- Orchid (OXT)
- Pax Gold (PAXG)
- Ren (REN)
- Storj (STORJ)
- Synthetix (SNX)
- Uma (UMA)
- Uniswap (UNI)
- Yearn Finance (YFI)
To invest with Passfolio, the first step is to complete your registration. The registration can be done in a few minutes through this link, and you will be asked for some basic information. Then, the account is typically approved in a few hours and you’ll be able to add funds to your account and start investing.
For US stock trades, Passfolio Securities offers commission-free* trading for assets priced at $5 or more. You can check all other fees that may apply on Passfolio’s website: http://passfolio.us/fees
*Securities less than $5 cost $0.02/share. Please see Passfolio’s disclosures on other charges.
Disclosures:
Passfolio is the brand name of Panchain, Inc. Passfolio Securities LLC and Passfolio Financial LLC are fully-owned subsidiaries of Panchain, Inc. Securities and cryptocurrencies are very different types of assets. Cryptocurrencies are not securities. Purchasing cryptocurrencies comes with a number of risks. Please read Passfolio Financial Cryptocurrency Risk Disclosure.
Currency and cryptocurrency exchange services provided by Passfolio Financial LLC (“Passfolio Crypto”), a US Money Services Business registered with FinCEN. Passfolio Financial LLC is not a broker-dealer. Cryptocurrencies are not protected by either
FDIC or SIPC. Securities products and services offered to self-directed investors through Passfolio Securities LLC Member FINRA / SIPC. Passfolio Securities, LLC does not provide cryptocurrency-related services. Passfolio Securities LLC is a member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash).
Explanatory brochure available upon request or at www.sipc.org. To purchase securities using cryptocurrencies, you must first convert them into U.S. Dollars using Passfolio Financial LLC. You must then move the U.S. Dollar proceeds to your brokerage account at Passfolio Securities LLC where you can use it to buy securities.
Please see Passfolio’s fractional shares disclosure.
Disclaimer: This is a press release. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post.