Investing in the stock market can be highly profitable, especially if you know how the stock market operates.
About 3 months ago, I shared an update about this site that I used in buying Nigerian Stock. Checking the status of my investment 14 days ago, I realised that it had risen and I made both profits and got my capital back.
If you are interested in finding out how you can do this for yourself too and make some passive extra daily income for yourself, this article will help you achieve that.
The Trove Investment
Trove app is one of the best investment apps in Nigeria. It is a platform that enables you to trade with the available stock market. For the sake of this article, emphasis will be placed on the Nigerian Stock Market.
On the Nigerian Stock Market, you may find the following companies putting up their shares to the public for purchase, First Bank, Dangote Plc, Nigeria Breweries, e.t.c. Each of these stocks is set at different selling prices per unit.
Since the stocks are to be bought, you have to deposit into your Trove account. To do this, you can either deposit in dollars or naira. This means that the Trove investment app has both a Naira account (NG Portfolio) and a Dollar account (Fixed Portfolio).
For the sake of practising how to invest, upon registration, you will be given a demo account in both currencies.
You can read this article to learn how to make deposits and trade using your demo account.
Related Article: Trove Investment: How to Make Money Online in Nigeria
How to Earn Using the Nigerian Stock Market
Depending on the amount of money you commit to a particular stock or a set of stocks, you can potentially earn money daily – even without lifting a finger. Here is all you have to do:
1. Go to the second page – EXPLORE
It showcases the different stocks you can buy currently.
2. Select and Buy your Stock of Choice
In selecting your stock of choice, you should go for one that has a lower cost price and also with the potential to rise with time.
You can use the trend/chart of each stock to understand its behaviour in the stock market.
With a lower cost price, you can buy as many stocks as you can afford.
3. Monitor your Stock
Since it is a long-term investment, you should give time to monitor the market for any updates on the acquired stock.
With the rise in the cost price of the purchased stock, there will be a rise in the selling price of the unit you bought.
In my case, I bought 100 units of First Bank stock at about N22.15 about 3 months ago. This increased over time to N33.9. That is an N11.75 increase over a single unit.
The more stock you buy, the more money you earn when the cost price increases. However, you should trade with caution; the stock could crash too, which ultimately will cause losses.
If you are interested in using this investment platform, click here to sign up and begin your investment journey today!
For more information, you can see this explainer video.
Conclusion
The Trove app is safe for Nigerian investors. Using the Trove investment platform, you can earn daily by utilising the Nigerian stock market. The more stock you buy, the higher your chances of making more profit.
