Bamboo has been a significant player in the industry, attracting more financial gurus following its rigorous saving and investing methods. 

It's best to explain how this works and put you in a better position before you take the next step. In this article, we will look at some of the major factors involved in investing in Bamboo. 

Without further ado, let's get in-depth in the article proper.

Bamboo Investment: Is It Legit or Not?

Bamboo Investment is one of the most legitimate investment platforms in Nigeria. It is an investment company that gives Nigerians the leverage to invest in over 3000+ US stocks from its investment app. However, the Bamboo Invest app on phones is one of the most used when utilising the platform.

Bamboo Investment allows Nigerians to invest in Naira or Dollars. The platform also allows users to invest using ETFs. The minimum amount anyone can invest in the Bamboo app is 20 USD or its naira equivalent. Once you're a verified user, you can track your investments in one place.

It's important to know that Bamboo is a legitimate investment platform in Nigeria that the CBN and SEC recognise. Bamboo's license from the SEC allows it to work with multiple brokers to serve its clients better and guarantees that its relationship with Lambeth Capital, its sponsoring broker, is monitored. So, with this in mind, you have no worries about patronising their services.

How to Create a Bamboo Investment Account in 2024

Creating a bamboo investment account in 2024 is easier due to many modifications from the user interface to their user experience. To get started creating an account on the Bamboo app, you have to follow the steps below:

To start investing in the Bamboo app, you have to download the app to access your dashboard and experience a seamless transaction. Unfortunately, you can't log in through their website. If you search the bamboo investment website on Google, you will see Bamboo Products, Bamboo Learn, Bamboo Community, and Bamboo FAQ.

If you're using an Android or iOS device, visit your app store and search for 'Bamboo: Invest. Trade. Earn,' and download the app. When you're done, you can fill in your required details.

How to Download the Bamboo Investment App on Apple PlayStore

To download the Bamboo Investment app on the Apple Play Store, you have to:

• Type 'Bamboo: Invest. Trade. Earn.'

• Next, download the Bamboo Investment app from the Apple Play Store. Once you have done this, you must sign up as a new user and start investing in the app.

How to Download the Bamboo Investment App on Google PlayStore

To download the bamboo investment app on Google Play Store, you have to:

• Type 'Bamboo: Invest. Trade. Earn.'

• Next is to download the Bamboo investment app from the Google Play Store.

• And once this is completed, you have to sign up as a new user and start investing with the app.

After signing up, you can deposit money in your Bamboo wallet to start your investment journey.

Things Needed to Create an Account With the Bamboo Investment App

After you have downloaded the Bamboo investment app from your Google Play Store or Apple Play Store, you then follow the process below:

Step 1: Open the application and select "Start Building Wealth" after installing it. This will lead you to the sign-up page, where you will fill out the necessary information to register successfully. 

Step 2: Complete the personal information form. On the sign-up page, you must enter your details, including your full name, email address, and phone number. Additionally, you must create a password with a minimum of eight characters that combine special characters, numbers, and letters.

Step 3: After completing your personal information, you need to verify your identity. The Bamboo investment app also requires you to provide a valid ID, such as a driver's license, passport, or national ID. To upload your ID through the app, you must take a picture of it, which will take a few minutes to verify.

Step 4: You are expected to connect your bank account to start investing with the Bamboo investment app. After doing this and transferring money to your Bamboo wallet, you can trade. You must provide your bank's name, account number, and routing number to connect your bank account. Bamboo uses Plaid to link your bank account securely.

Step 5: Now that your bank account has been linked, you can fund your Bamboo wallet. You can move money from your bank account to your Bamboo wallet via the app. Bamboo receives wire transfers as well as ACH transfers. Once your funds are in your Bamboo wallet, you can go on to invest in stocks, ETFs, and other securities.

How to Fund an Account in Bamboo?

To fund your account using the Bamboo Investment app, there are certain processes you must follow to have your money go through the right channel. It also topped our list of best investment apps in Nigeria in 2024. Notwithsatnding, let's look at the steps below:

• Click the "+" icon next to "Your Total Wealth" on the homepage of your iOS or Android app. 

• Select the "Bamboo Wallet" you want to deposit money into the USD Wallet or the NGN/GHS Wallet.

• After selecting the desired currency and entering the amount, click the "Deposit icon." The minimum deposit for Nigeria is $1, and for those in Ghana, the minimum is $10. The exchange rate at the time of deposit will determine how much this is worth in your home currency.

• Select the funding option of your choice and adhere to the on-screen directions.

• Deposits immediately appear in your Bamboo wallet, even though some might take up to an hour.

• An email notification will be sent to you once the deposit appears in your wallet.

• To view the deposited funds, please visit the homepage and scroll down to your "Bamboo Wallets." 

How to Buy US Stocks on Bamboo?

When placing a buy order on the Bamboo app, you have three options for paying for the stock: funds from your bank account, debit/credit card, your stock brokerage's Buying Power, Bamboo Wallet, or all three. Here's how to buy a stock:

• Select the stock you want to invest in by clicking on it.

•  Next, is to tap Buy

• Pick the purchase option that you want.

• Enter the details of your order. 

• Click "Preview Buy."

• Check the order information, then select Buy.

A stock purchase made during a closed market will be executed at the going rate as soon as the market reopens.