NewStats: 3,264,975 , 8,185,245 topics. Date: Friday, 13 June 2025 at 01:37 AM 4y4v28

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 ed 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 ed 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!

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?

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

You can check bamboo and invest in Treasury Bills, 2million will give you close to 450k as gain, it is 22.97% annually presently