Rise is a digital dollar asset manager that links Nigerians to international investment possibilities. This is through products such as fixed income, real estate in the United States, and US stocks. While there are various stock investing alternatives in Nigeria, they only provide stock options. These only enable you to buy and manage stocks yourself.
Rise serves as a fund manager. This implies that instead of allowing you to choose which stocks to buy on your own, they invest on your behalf. They do this in carefully vetted high-performing firms. Second, they provide three investment options that allow you to invest based on your risk tolerance while still providing excellent returns.
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Contents
Rise App – Available Services and Offer
They provide three asset classes to assist you in developing a healthy investment portfolio. Fortunately, you may invest in any of them for as little as $10.
Fixed Income: Fixed income in the form of Eurobonds is an investment that pays a fixed amount of interest over the agreed-upon investment period. This ranges from three, six, or twelve months. It is time-limited, with little risk and assured rewards. Fixed income is ideal for those with a low-risk tolerance.
Real estate: This asset type allows Rise to put your assets in a portfolio of high-demand commercial buildings. The risk is more than with Fixed Revenue. This includes a variety of events, such as a pandemic, which might have an influence on rental income. However, the returns are higher than Fixed Income but possibly lower than Stocks since property prices are more stable and do not compound or rise as quickly as stocks.
Stocks: When compared to real estate and fixed income, investing in stocks carries the biggest risk. Investing in stocks with Rise App Nigeria eliminates the stress of deciding when to purchase and sell stocks and maintaining your portfolio. Stocks have the potential to double your money in a year. They also have the potential to lose money within the same time period. If you have a high-risk tolerance and want to hold a portfolio of strong company stocks, this asset class is for you.
What to know to get started with Rise App Nigeria
Before we delve into the three top requirements, Rise App has made access to its services easy and accessible 24/7. With the Rise App available both on iOS and Android
#1. The Fees
This amounts to 1.5% to 2% of the entire investment and returns. The fee will be based on how much they manage and generate for you in a year. You will not be charged if your returns are 10% or less. They charge 1.5% if they are greater than 10% but less than or equal to 15%. If your returns exceed 15%, they will charge you 2%.
#2. BVN Requirements
The BVN requirement is a government regulation that applies to financial institutions banks, investment companies, and fintech. Furthermore, your BVN is the easiest way for us to confirm your identity. Also, your BVN keeps your money safer by making it harder for your identity to be stolen.
The BVN details provided to Rise will be authenticated with the government database to make sure it’s yours. They don’t save it and can’t use it to access your bank account(s) and we definitely don’t sell it.
#3. Regulation
Rise members’ interests are protected by a cooperative license, which allows Rise to invest on their behalf and declare holdings to the Lagos State Government. Their investments are kept in a registered investment advising business in the United States, as well as in collaboration with other regulated third parties. They are also working with the SEC to establish additional regulatory frameworks for cross-border investments.
How to make a withdrawal from your Rise App account
Withdrawing your funds takes 3–5 working days. It takes this long because your funds are invested in the US, therefore, liquidating, converting, and processing may take some time. This process also ensures the safety of your funds. This is because they have to carry out fraud checks for every withdrawal to make sure it’s the rightful owner making the withdrawal.
Note: You cannot withdraw without verifying your BVN.
Steps to link your card or bank
Linking your card or bank account is secure and saves you the hassle of entering your information every time you want to fund your plan.
- Step 1: Log in to your app and go to ‘Account’
- Step 2: Select ‘Bank & Cards’
- Step 3: Click the ‘+ ‘ symbol
- Step 4: Enter card details and save
How to fund your wallet
To fund your Rise App Nigeria wallet, log in to the app > wallet > fund wallet and select your preferred means of funding.
Each Rise user is assigned a virtual account number to fund by only bank transfer. To see your account number, select fund by naira bank transfer.
Conclusion
Rise is a novel approach for individuals to manage their money and invest in high-yielding assets without having to be an expert or check the success of their investment on a regular basis, as is the case with trading.