People are making good passive income investing in US stocks from Nigeria, and you’re about to be part of them shortly.
You don’t have to actually have a US job to get paid in dollars. Yes, that is 100% possible, with tested and trusted investment platforms like Bamboo and Fusion.
Let’s get right into this step-by-step guide to learn how Nigerians are investing in US stocks from Nigeria.
Know Your Why, What, When, and Where
This will help you make informed decisions throughout your investment journey.
The best investment you can make is in yourself – Warren Buffett.
Make frequent use of Google to search for words or terms used in investments, and understand them. That’s a very good first start.
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Your Why?
This is the step where you understand why you’re investing in US stocks.
Is it because of the advantage of the value and stability of Dollar, or because of the accessibility to top-performing companies like Tesla or Apple, or is it just to diversify your portfolio?
Be It because of the shege the instability of Naira has shown you or the lessons inflation has taught you? Knowing your Why will help you better understand what type of stocks to buy.
Your What?
Knowing your what gives you a good start towards the opportunity of greater returns and access to the US big boys like Apple, Netflix, Microsoft, etc.
Knowing your what also gives you clarity on what to invest in. Some types of US stocks are:
- Common stock – This stock class entitles investors like you to generate profits, usually paid in dividends from partial ownership called shares of a company.
- Growth stock – This refers to shares that are expected to grow at a faster rate compared to the bigger market.
- Income stock – These are shares that provide regular income by distributing a company’s profits, or excess cash, through dividends higher than the market average.
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Your When?
The best time to start investing was yesterday, the second best time is today – a famous Chinese proverb.
Remember, in investing, your money works for you, while in saving, your money works for the bank. When you’ve figured out why you’re investing in US stocks and what you’re investing in, the next step is to invest now
Your Where?
With properly regulated, licensed, and trusted investment platforms like Bamboo and Fusion, investing in US stocks has never been easier.
Here are 4 steps to show you how to go about it:
Create Your Investment Profile
If you’re a seasoned investor, you know this already, but if you’re a Johnny Just Come investor, an investment profile is the first step on any platform.
- Head over to your Fusion wallet.
- input your password, and tap on investment.
- Tap on US stocks.
- Fill in the details to create your investment profile.
- Upon successful profile creation, you will be redirected to your investment dashboard from where you can select US stocks to buy.
Buy Stocks
- Click on US stocks to search and select the stock you want to buy.
- Enter the amount of shares you want to buy or the amount you want to invest.
- Please note that the minimum amount is $3 and you can hold for as long as you like without being charged for holding.
Sell Stocks
- Go to your investment dashboard on your Fusion wallet and select the stock you want to sell.
- Choose either “Sell All” to sell off everything or enter the amount you want to sell.
- Review your transaction details and confirm everything is correct.
- Please note the least amount you can sell is $2
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Withdraw Funds
- Go to your Investment Dashboard
- Your Unsettled Funds should now reflect in your Investment Balance.
- Click on Investment Balance.
- Select the amount you want to withdraw.
- Confirm the withdrawal.
- The Naira equivalent of your withdrawal should be reflected in your Fusion wallet.
Looking at the multiple opportunities the US stock market offers, with an ever-strengthening and stable US Dollar. Having a US stock in your portfolio is a win that aids financial growth and diversification.
In the spirit of financial growth, investing in US stocks from Nigeria is a secured decision, and Fusion will always be there to help you make secured financial decisions. For more resources on investment and identifying the right stocks and strategies, join the Finance 101 community on Fusion.
