The most powerful investment apps of 2022
In 2022 most people find themselves financially in a weird place. Many of us started investing during the pandemic benefiting from the upward trend of the markets, while others lost money as they had invested in assets that crashed during the pandemic, such as individual stocks or p2p loans.
In any case, people have started taking up investing seriously and as the world jumps from one crisis to another, I thought it would be a good idea to catalog some of the most reliable investment platforms where you can put your money and invest safely.
The criteria used to select those platforms are very specific:
1. I have been using them for more than one year.
2. They were around during the pandemic and performed well despite the adverse circumstances.
3. They are transparent, user-friendly and they actively seek to be regulated and licensed by financial authorities.
As you may understand, there is a mixture of objectivity and subjectivity in those criteria, so you should not invest in the platforms listed below, without doing your research. In fact, let me tell you what my lawyer told me to tell you:
Disclaimer: I am not an investment professional, and this is not investment advice; it is merely my subjective opinion. You should not be investing based on what you read on the internet. You should do your own research or consult a licensed professional.
Disclaimer 2: As I am an EU citizen, the platforms shown here are available to EU residents. If you are not an EU resident, you may not have access to those platforms or some of their features.
So, what are the best platforms to put your money into? Let’s check them out:
Freedom 24: Freedom 24 is an upcoming investment broker and therefore is fully regulated. What is special about this platform is that it allows (with low to zero fees) to invest in both US and EU markets. They offer investment in stocks, bonds, ETFs, etc. However, what I like the most about them is their USD D-Account, an investment deposit account with a 3% annual interest rate, with daily interest payments (as an investment account, money placed there is secured up to the amount of €20,000). The fact that the account is in US dollars allows you to get even higher returns when the USD appreciates against the EUR (but it also limits returns when EUR appreciates, to tell the whole truth).
ΝΕΧΟ: NEXO is a cryptocurrency platform. Even though cryptos aren’t fully regulated, they have gone to great lengths to get audited, and they participate in various co-operations about Defi regulating. In NEXO you can deposit either crypto or fiat currencies and earn interest, you can also use the crypto you have deposited as collateral to get loans. They recently introduced a credit card that works the same way: You spend by using crypto as collateral, which you get back as soon as you repay. I find this card very useful as I can use it whenever I need a little extra cash without the fear of going into debt. If for any reason I cannot repay, my crypto assets that were used as collateral are liquidated and I am in the clear. Furthermore, I should not fail to mention that, under certain circumstances, there is no interest accrued in that credit card debt.
Mintos: Mintos are perhaps the champions of P2P lending in Europe. They have managed to get fully regulated and they did not stop there. They innovated by turning the loan agreements in their platform and turned them into fully regulated financial instruments, called “Notes”. Notes are currently in their roll-out phase, which is expected to be completed by July 2022. Mintos responsibility is also evident in the fact that they limit the amount you are allowed to invest depending on your financial status and by the fact that while many other P2P platforms crashed during the pandemic, Mintos continued its operations without problems.
Relovut: Revolut is the absolute necessary tool if you move money around a lot (like across investment platforms), as they rarely charge any fees, they have instant SEPA payments and competitive exchange rates. You can deposit money with them in almost any currency, and in some countries, you can earn interest on your EUR or USD. Revolut also allows you to invest in gold and silver and also has many other useful features, like hotel bookings and travel insurances, which are nice if you are something of a digital nomad.
Investing has never been easier in the history of humankind but with options come dangers, thus I believe that we all should take the time to do our research in order to invest with the most reliable partners available. I sincerely hope that my catalog helped you a little in this endeavor!
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Furthermore, if you are an investment enthusiast, like me, and wish to get access to powerful investment platforms and help me keep delivering interesting stories in the process you can sign up on any of the platforms below:
Freedom 24 -One of the top investment platforms, you can invest with low to zero fees in stocks, bonds, ETFs, etc. It also has a deposit account with 3% annual interest paid out daily, plus they give you free stock upon signing up through this link.
Nexo -One of the most regulated cryptocurrency investment platforms. Earn interest on crypto and fiat currencies, use your crypto to get collateralized loans, and get access to the first crypto credit card.
Mintos -Perhaps the only regulated P2P platform in the EU. They recently started turning loans into formal investment instruments (called “Notes”). They also plan to expand and offer instruments like ETFs in the future.
Revolut -The one that brings all other platforms together. Revolut is the best solution to move money between investment platforms and banking accounts. They recently became a fully- licensed bank themselves and offer a variety of products from insurance and crypto accounts to interest-bearing deposit accounts (in some countries).
Whether you believe it or not, economists run on coffee. So, if you do not feel like registering on any of the platforms above, you can support me by buying me a morning coffee!
(and help fight climate change in the process, as 1% of the donations go towards carbon removal!)
