I want to invest on palmpay app i want to know if got nothing to fear and is there anybody into it?

Invest it in my farm. Buy me fertilizers. After harvest and sales at the end of 120 days I pay you with interest

Godspeed0:
I want to invest on palmpay app i want to know if got nothing to fear

By invest you mean fixed deposit??

Solsix:

By invest you mean fixed deposit??

they have section for investment on the app I want to know if it is save to invest in it

Godspeed0:
they have section for investment on the app I want to know if it is save to invest in it

It's safe (at least for now)

The question you should be asking is why are you investing? If the reason why you want to invest is to lock away funds which you intend to use in a couple of months time so you won't tamper with it, I'd say carry on.

But if you're investing for profit, you'll be disappointed cos 100k saved for 3 months there would give you less than 12k interest. So if you want a profit based investment, look for an actual business and invest in.

Godspeed0:
they have section for investment on the app I want to know if it is save to invest in it

I think they are ok.
Be careful with NLs when it comes to money. A known devil is better than an unknown angel. Palmpay is a recognized and registered app.
Be wise on NL!

Nazgul:

It's safe (at least for now)

The question you should be asking is why are you investing? If the reason why you want to invest is to lock away funds which you intend to use in a couple of months time so you won't tamper with it, I'd say carry on.

But if you're investing for profit, you'll be disappointed cos 100k saved for 3 months there would give you less than 12k interest. So if you want a profit based investment, look for an actual business and invest in.

I have like 2 million i would not be using anytime soon i want to invest it to make profit instead staying in the bank idle

Pepperdemisback:

I think they are ok.
Be careful with NLs when it comes to money. A known devil is better than an unknown angel. Palmpay is a recognized and registered app.
Be wise on NL!

What do you mean by NLS?

Godspeed0:
I have like 2 million i would not be using anytime soon i want to invest it to make profit instead staying in the bank idle

You can invest it then since you won't be needing it anytime soon.

Palmpay gives 20% interest per annum. Meaning if you save that 2m for 12 months, you'd get 400k. If it's less than 12 months, the money would be less. That's why I said it isn't profitable.

Just focus on the fact that you want to lock up your funds for now pending when you'll need it.

Godspeed0:
they have section for investment on the app I want to know if it is save to invest in it

That is fixed deposit

Godspeed0:
What do you mean by NLS?

Nairalanders.

It's safe!

Godspeed0:
I want to invest on palmpay app i want to know if got nothing to fear and is there anybody into it?

Nothing to fear about!

Very reliable & efficient!

If your investments can beat inflation, then it's cool

Google the inflation rate presently (let's assume it's 10%). Then whatever investments you're making MUST give you a return of 30%

Why 30% and not 10% as per inflation rate which I just said

Because inflation makes your money looks big BUT YOUR MONEY ACTUALLY BECAME SMALLER

60K of 2020 is gonna be 150k of 2024. Hope you see it now

So from that 30% returns you would be expecting, 10% out of it would be to hedge against or to beat inflation WHILE the remaining 20% would be your actual profits

So let's say you have #2 million, then 30% = #600k. Which is 20% + 10% breaking 30% into two parts

Out of that #600k, #200k which is 10% of #2 million would be your hedge against inflation while the remaining #400k would be your profits of the remaining 20%

First check the current inflation rate then make your prediction for it to be higher (due to Fractional reserve banking that creates money literally our of thin air). After you have done that, that's when you factor in your profits in %

The calculation is pretty easy and I'm here for your questions. I'll answer the ones I can

Keeping money idle in the bank is sheet now. Inflation+ fractional reserve banking would eat it all up to nothing. So heads up


As you were.

Nazgul:

You can invest it then since you won't be needing it anytime soon.

Palmpay gives 20% interest per annum. Meaning if you save that 2m for 12 months, you'd get 400k. If it's less than 12 months, the money would be less. That's why I said it isn't profitable.

Just focus on the fact that you want to lock up your funds for now pending when you'll need it.

IAmHim1:
If your investments can beat inflation, then it's cool

Google the inflation rate presently (let's assume it's 10%). Then whatever investments you're making MUST give you a return of 30%

Why 30% and not 10% as per inflation rate which I just said

Because inflation makes your money looks big BUT YOUR MONEY ACTUALLY BECAME SMALLER

60K of 2020 is gonna be 150k of 2024. Hope you see it now

So from that 30% returns you would be expecting, 10% out of it would be to hedge against or to beat inflation WHILE the remaining 20% would be your actual profits

So let's say you have #2 million, then 30% = #600k. Which is 20% + 10% breaking 30% into two parts

Out of that #600k, #200k which is 10% of #2 million would be your hedge against inflation while the remaining #400k would be your profits of the remaining 20%

First check the current inflation rate then make your prediction for it to be higher (due to Fractional reserve banking that creates money literally our of thin air). After you have done that, that's when you factor in your profits in %

The calculation is pretty easy and I'm here for your questions. I'll answer the ones I can

Keeping money idle in the bank is sheet now. Inflation+ fractional reserve banking would eat it all up to nothing. So heads up


As you were.

which investment do you know that can bring better return?

I've dreamt of the day someone would ask me this question and the answer I will give is this: I DO NOT KNOW

lolzzzz

I'm in Nigeria and my view is limited in the investments section although it is quite robust in the knowledge and know-how section

Know this: Whatever business you're planning to go into MUST beat the inflation rate IF NOT, you'll be running at a loss

I can boldly tell you most POS business haven't even reached break even yet talkless of making profits

How do I know. 40k of last year is around 70k or so now. So someone who invested 40k into POS business as at then and inflation meets up with such a person, would have to make 70k first to REALIZE HIS/HER original CAPITAL... abd I'm not talking about profits oo. Just capital alone.

The money looks big but it's small. That's the sad reality of inflation: THE REDUCTION IN PURCHASING POWER.

It's not the food price going up, it's the value of money going down. That's why more of the money now chase the same quantity of goods compared to before...

Whatever new money is created takes value from the old money. That's inflation

People will tell you to save in dollar but even Americans don't save in dollar. The Americans that own the dollars are even afraid to save in dollars lolzzz

So you see. It's a mess

People say buy gold and Bitcoin...it's bullshit unless you're sure it can beat inflation.

But gold and crypto is just a Hegde against inflation from what I have observed.
See it like I do now: Whenever the government drops the interest rate of a country lower, it encourages citizens and business to borrow more. And when people borrow more but don't have anything to do with that money, they rush into gold and Bitcoin and what have you. It's not because of gold prices rose or something...it's because of the volatility injection by people who think the same way. Now they are expecting profits...profits from where. The inflation due to cutting interest rates matches the rise in Bitcoin

So it's basically a hedge

Take into consideration the algorithm that controls all financial markets be it crypto, bond, stocks, future etc. It's a long story. I've created a series called WEALTH SERIES to educate as best as I can



The ONLY sector I've seen that beats inflation is AGRICULTURE.

Because the main reason people wake up to go to work is to afford what to eat FIRST. YOUR data and clothes and parties are mere secondaries

So by venturing into agriculture, you can be assured of what you and your family will eat AND if you ever wake up and see the economy is a mess, you can take your farm produce to the market and sell at the market price. Then the money gotten from selling your agriculture produce would then be used for your data, clothes, and other secondary stuffs.

Agriculture beats inflation and still gives you profit because the yam or the pepper or the garri you're gonna sell from your farm will be sold to whatever price inflation has taken it to so you then add your profits and voila.

You've not only beaten inflation but made some profits for yourself too

My humble take

As you were

Godspeed0:
which investment do you know that can bring better return?