Yes, you can make money off Cash App Stocks. Given the inherent volatility of Stocks assets, most involve a high degree of risk and require domain knowledge or expertise. Cash App Investing also offers zero-commission stock trades.
Trading Stocks on Cash App is one of the answers to how to make money off Cash App Stocks.
Cash App offers an easy way to trade stocks, and we’ll explain how you can make money on the e-wallet app, why you should, and why you shouldn’t.
Cash App is widely regarded in the US as a reliable e-wallet app, and it has introduced the ability to trade stocks from within the app. As a result, stock trading has become a well-known method to earn money for individuals, especially piquing the interest of the “passive-income” enthusiasts out there.
Taking note of that, Cash App made it so that people could easily buy and sell stocks at market price from within the app.
Stocks Trading in Cash App are unbelievably beginner-friendly, and we’ll tell you all there’s on how to make money from stocks on Cash App.
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How to Make Money off Cash App Stocks
Trading stocks in Cash App is as easy as you’d hope, but you’ll need to know about what stocks to buy to make sure you make those profit gains.
That being said, here are the steps on how to get money from stocks on Cash App.
- Open Cash App
- Head on over to the “Invest” section
- Click on the search bar
- Search for a stock that you’d like to buy from either the stock or company name, such as Tesla
- Select “Buy,” and choose how many stocks you’d like to purchase
- Complete the verification check, and confirm the purchase
That’s all there’s to the “technical” side of buying stocks on Cash App. If you want to know how to sell stocks, then the process remains the same up till Step 4, after which you’ll select “Sell” instead of “Buy” and choose the amount of stock you want to sell.
Read: Can you Buy Gamestop Stock on Cash App Cash App Investing
How to Trade Stocks?
It’d require an entire article to discuss Cash App stock trading in-depth and how to execute it properly to make gains in your portfolio. Although we can’t go into all the details today, the main concept of trading is buying the stocks when they’re low in value and selling them when their value has grown.
Now figuring out when these prices move up and down and other technical aspects of trading isn’t that simple. Nevertheless, you can head onto this beginner’s guide to trading stocks by Investopedia to get started.
Pros and Cons of Trading Stocks on Cash App
You probably want to figure out the advantages and disadvantages of trading on Cash App before diving headfirst into the action. Fortunately, we’re here to help you understand the pros and cons of trading on Cash App.
Pros
- Beginner-friendly: We don’t think you’ll find another platform where it’s easier to trade stocks than Cash App, as you can do everything from your personal e-wallet on your smartphone. All the technicalities you’ll have to learn on trading platforms are eliminated when you trade stocks on Cash App.
- No fees: Unlike most trading mediums, Cash App won’t charge you any commission or up-front fees when you’re buying stocks on the app.
- Excellent cash management: Of course, being an e-wallet app, Cash App offers many features to store and manage your money.
Cons
- For stocks only: A significant disadvantage of using Cash App is that you can’t buy ETFs, mutual funds, or stock options. You’re only limited to stocks, which narrows down the opportunities that you may have.
- Limited account types: With trading, you typically get several account types that suit the needs of specific types of trading. However, in Cash App, only a limited number of account types are available.
Read: Listicle – Cash App Cheap Stocks Under $5
5 Best Cash-App Stocks to Invest In
To make actual money off Cash App stocks, you’ll need to have an idea about which stocks to trade-in. So, we’ve presented 5 of the best options you can go for on the app.
1. Uber
Uber seems never to die down. The ride-sharing app, which has added food delivery and an e-wallet to its arsenal, is looking to dominate the market in the coming years. So, it wouldn’t be wrong to say that investing in Uber is a safe choice.
2. Alibaba
Alibaba is another one of those companies which we’ll still be seeing and hearing of in the near to far future, as the e-commerce website has become grounds to thousands, if not millions of businesses worldwide. So, you can safely invest in Alibaba.
3. Apple
Apple makes the most popular gadgets out of perhaps any other tech firm. You have the iPhones, which make headlines every year on launch day, and the Macbook laptops, which many users love. We expect that Apple will only grow for the next several years, which is why buying the company’s stocks is a great idea.
4. Alphabet
Alphabet is the company that owns Google, which is enough to make you feel safe when buying their stocks. In fact, it wouldn’t be far-fetched to say that Google virtually owns the world, with their hands in search engines, cloud computing, e-payments, virtual reality, and a lot more.
5. Facebook
Facebook is another company in which you can invest care-free. The tech giant is the most popular social media app in the world, and it owns the other 3 or 4 in the top 5 list as well.
Moreover, Facebook is looking forward to much bigger ventures, including the mammoth project Meta, which will bring forth a virtual world for people to connect in. So, it’s definitely the best time to buy some Facebook stocks.
Read: What is Cash App Business Symbol?
Bottom Line
Cash App is a great app to trade stocks on, and it can quickly help you make money off of trading without having to learn too much about the topic.
After you learn the steps to trade on the app and know which stocks you want to invest in, you’ll be making money off of cash app stocks in no time!