For decades, investing has been considered an exclusive club accessible only to the well connected, well financed, and established crowd. Previously, investing had a reputation of being intimidatingly complicated as well as requiring a large sum of money up front to begin. This was the driving force behind the creation of the investing platform Stockpile. According to the story, around the holiday time, the owner and creator of stockpile wanted to purchase some stock in the favorite, major brands of his niece and nephew like Apple and Google. It turned out that it was a much easier process in theory rather than execution. These large heavy hitters, while profitable for those that invested in them, were too expensive for the average person to get a piece of. On top of that, purchasing a piece of stock as a gift only further complicated the process. Enter the Stockpile platform.
What is Stockpile?
Established in 2010, Stockpile is a investing platform that works in two distinct ways that makes it unique and ideal for students. First, users are able to buy and sell fractional shares in large companies, which is perfect for the beer budget amount of money that is left in your bank account at the end of the month. Secondly, Stockpile makes gifting shares to others seamless. Instead of unwrapping another sweater that you’ll never wear from your Great Aunt Sue for the holidays, ask her to invest in your future nest egg with a gift card to go towards your growing investment portfolio instead. By offering a straightforward, easy way to gift shares, Stockpile allows the average person to access and own stocks directly.
How Does Stockpile Work?
Investing can feel like a scary endeavor that requires learning an entirely new skill. Before you download the Wolf On Wall Street and start taking notes, understand that Stockpile was created for even high school students to use with ease. The platform can be used in two different ways simultaneously or on their own.
Purchase Stock Shares On Your Own
Users can set up an account using their credit or debit cards to fund their accounts or link a bank account. From there, the process is incredibly easy. Users can then purchase fractions of stocks using a dollar amount from major companies like Tesla and Nike. From there, you can allow your shares to develop and grow as they make money over time or you can sell them on the same platform for profit.
Redeem Gift Cards
If you look in your sock drawer right now, you will probably find most of the useless gifts you’ve received over the years. From festive knee highs to that light up tie you’ve only worn once for a family photo, none of those items are working for you or your future. Stockpile allows your family and friends to purchase gift cards (or you can purchase them for yourself or others) for you to redeem either towards a predetermined fractioned stock or a stock of your choosing. Each gift card received is free to redeem which means $100 gifted to you towards a share of a stock is actually $100, no hidden fees.
Why Use Stockpile?
This platform is unique in the way that users are able to send and receive gifts cards towards their investment portfolio. Stockpile allows users to purchase shares by the dollar amount in large companies that they typically wouldn’t have access to as the price would be too high. Stockpile is practically created for the beginner investor or college students that have to make the weekly decision between buying a latte and transportation fare. There are zero monthly fees and absolutely no account minimums which allows for more profit in your pockets. Stockpile does charge a .99 transaction fee to purchase stock using the cash in your account funded via your bank, credit card, or debit card.
Stockpile allows you to purchase stock shares and get a real piece of action without risking it all. Your family and friends can be active parts of investing in your future instead of your sock drawer disappointing gift collection. Like with any investment platform, there are risks with putting your money into stocks and shares as the market is ever changing. Never invest more money than you are comfortable losing.