Investors in Africa can now Purchase Stocks from the US Market using Cryptocurrencies

Just of recent, Passfolio, a new investment app was dropped in the market and since then, it has been growing in number of users. Through its US registered broker-dealer, Passfolio Securities, the company has as objective to democratize the access to US investments in countries like Nigeria, by making it possible for investors to trade over 3,800 US stocks, REITs and ETFs from the US market with no commission fees. Lately, Passfolio has been growing in African countries like Nigeria and wants to facilitate access to US investments in the region.

David Gobaud, CEO and Founder of Passfolio 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”. Passfolio is different from other brokers because it makes trading and funding your account with cryptocurrency through Passfolio Financial possible. It 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 can now purchase stocks at will.

Through this way, investors can deposit Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Zcash as well as other cryptocurrencies and access the US market. Below is a full list of supported Passfolio digital currencies that you can deposit and trade 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)
  • 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)

In order to start investing with Passfolio, you’ll need to first complete your registration. Note that the registration can be completed in just a few minutes, and you’ll be asked for some basic information. Upon completion, the account is typically approved within a few hours and you’ll be able to add funds in your account and start investing.

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