Cash App Stock Investment Review
Cash App is a peer to peer money transfer application that allows users to send and receive money, buy and sell cryptocurrency and trade in stocks. Investing in stocks has always been quite a risky task and if you are also one of those trying to invest in the stock market, then Cash App may prove to be of much help to you.
The popularity of such online applications like Cash App, Zelle, and Venmo have gained a lot of popularity in recent years due to their ease of use. Trading stocks is a very good opportunity for those who actually know how to do so, and Cash App definitely provides you a chance for this. Basically, when you hear the phrase ‘investing in stocks’, it generally means that that particular person is purchasing a part of the company to which that stock belongs. It is called ‘share’.
Cash App is best for beginners who are trying to buy or sell stocks, as this procedure can be done in a very minimum amount of time. There are many reasons why people opt for Cash App for this purpose, with the core being that it charges no fee for doing so. Also, opening the account on Cash App is also pretty easy and simple and costs no money.
Cash App Pros
Following are some of the positive points of Cash App, which makes it a very favorable application for investors:
- Ease of use: Cash App is very easy to use for beginners as it requires no lengthy process when creating an account. People normally do not know where to begin when trying to invest in the stock market. Cash App provides a very user friendly interface, which anyone can easily understand and operate. All you have to do is open the application and look for the stocks section and the application will guide you further on how to do so.
- No cost: Neither does Cash App charge any fees for creating an account nor does it charge anything for buying or selling stocks. This is one of the key features of the application that has attracted thousands of users from all over the US and the UK. Also, there are no processing fees and brokerage charges. Some of the other applications also require some additional fees for more features, however, this is certainly not the case with Cash App, which provides you all of the features as soon as you download the application.
- Stock options: Cash App offers a maximum number of stock trading offers any application can ever offer and that too, free of cost. You will have to send and receive money 2 days early in case you want to invest in the stock market. Also, there are a variety of other options including utilizing the Cash App boosts etc. $2 is charged on every transaction you make via the ATM.
Cash App Cons
Following are some of the negative aspects of trading with Cash App:
- Limited accounts and trade options: There are limited things in which you can invest on Cash App. The application only allows investment in stocks as well as Exchange-Traded Funds. No other options are available in the application making it a problem for many professionals. Also, the types of accounts from which you can invest are also very limited. Only two types of accounts are allowed including standard brokerage and taxable one.
- Only US Citizenship: You can only open an account on Cash App if you are a US citizen and not otherwise. Also, your age must be 18 years or above in order to do so. This limits the trading options for most of the people.
How can you invest in stocks on Cash App?
In order to buy stocks on Cash App, consider following the given steps:
- To proceed with, open the Cash App mobile application.
- Then, proceed to the ‘Investing’ option available and enter the name of the company in the search bar available.
- After this, select any company and proceed to ‘buy’ the stocks.
- Enter your desired amount by tapping on the three dots icon available.
- Continue the on-screen instructions.
- Enter your PIN for confirmation.
In order to sell stocks, follow these steps:
- Proceed to launch the application and tap on the ‘Investing’ option available.
- Then, go to ‘My Portfolio’ and select the company whose stocks you intend to sell.
- Furthermore, click on either the mentioned account or click on the 3 dots available to enter the desired amount.
- Make a confirmation by entering your PIN.
Is investing in stocks on Cash App a good idea?
Keeping all the pros and cons into account, Cash App may be considered a good opportunity to invest in the Stock market. Among all the features, the fact that the user interface of the application is pretty simple and it does not charge any additional amount of fee for this purpose is another reason why you should be choosing Cash App over all others.
The application also provides a number of additional banking features to make the process more easier and simpler. Also, the fact that this application is highly secure and free from all sorts of frauds is another reason why you must choose it at all costs.
Cash App is a popular finance application that allows users to invest in the stock market. With all the pros and cons kept into account, the application is definitely a go to for all the beginners out there who intend to invest in the stock market.