If you have money just sitting in your checking or savings account even if it is 10 dollars you are losing money. Let’s be realistic your money is not going to grow much in your bank and you know it. If you had a large amount you could invest in a business or buy house but what if you only had a couple hundred dollars or as I said just 10 bucks. Where else do you put it? Robinhood is the answer (only works in the US and Australia for now).
Before Robinhood was launched people had to pay at least 5 dollars to buy a stock/ETF and then another 5 dollars when selling it in sites like Etrade, Scottrade and Ally. People also had to pay fees for buying cryptocurrencies through mobile apps like Coinbase. And even though fees on Coinbase are pretty high lots of people still use it. However, with Robinhood you do not have to worry about fees at all because it is completely FREE!
You can buy stocks, ETFs and now also Bitcoin and Ethereum (more cryptos coming soon) without paying any fees for buying or selling! There are lots of stocks ranging from $1 to $1000+ dollars, or you can just buy 10 dollars worth of Bitcoin. So whether you have 10 or 100 dollars, whatever money you have, you can start putting it to work for you in Robinhood instead of leaving it in your bank.
If zero fees does not motivate you, here is a FREE stock for you as well. I started using Robinhood less than a year ago and I am already getting a return of more than 15% on my money. Even better I get dividends (Free money) every 3 months from different stocks. You can read more about how to get dividends with small investments on this article.
Now imagine the returns that you could get with cryptocurrency!!! I have been using mainly Coinbase to invest in crypto but their fees are super high. Nevertheless, I have been able to double my crypto investment. If you are new to the crypto world you can get started here. On Robinhood you would be able to invest in different coins with no fees so your returns could be much bigger than in any other platform.
Another great think is that transferring money from your bank to Robinhood is much faster than transferring your money to Coinbase. If you have tried Coinbase you know it takes forever to get your money and once you get it the prices may have changed dramatically.
To recap, on Robinhood you will be able to invest in different things like stocks, ETFs and crypto and this is the only place where you can do that right now. You can have all your investments in the same place with no fees. Buy and sell whenever you want and do not worry about fees. Also you can get money to/from your bank pretty quick.
I am sure you at least have 10 bucks to get started or just get the free stock (it is free trust me). Why not? Do you think your money will grow sitting in your bank? If you do not take action now you may never do it. If you do not start working towards financial freedom now you may be working all your life.