Why Has Micro-Investing Become A Salient Choice For The Millennials: Learn More!

By Ankit Singh

Where did you keep all the change received from your grandparents when y’all were kids? Most of us would say- PIGGY BANKS! 

Now that we have grown up and understood that cash has become an outdated medium of exchange, turning to options like micro-investing seems like the best idea!

Not to overlook mentioning, the world is becoming a digital space, and services including food delivery, grocery shopping, and more have become more convenient than ever due to mobile app development. 

Therefore, micro-investing apps are also among the growing trends, and it is precisely why so many people are turning towards them. 

Who needs an agent when you can digitally round up your purchases, tuck the change into an investment, and more?

Questions like ‘Is it beneficial in the long run?’ or ‘Is it safe to invest using a mobile app?’ might pop up in users’ minds. Therefore, it is exactly what we’ll be highlighting in this article to educate you for easier decision-making. 

Are you intrigued enough? If yes, then let’s get started! 

BUT FIRST… Learn:

More About Micro-Investing Apps 

Unlike massive investments, micro-investments applications allow users to invest and save money in smaller amounts using a mobile app. Notably, the default settings of certain micro-investment apps can round up your spendings and automate transfers for investment. 

These applications are acquiring rapid growth due to their popularity amongst millennials. According to research, about 51% of millennials have turned towards investing via mobile applications. 

But why has micro-investing become a popular trend?

Unlike other complex investment plans, micro-investing is a hassle-free experience that doesn’t expect you to have a lot of money for getting started! All you have to do is pay a user fee as demanded by the fintech app, which is as low as $3-5. Then, once you’ve signed up, it’s a cakewalk! 

Why are Investors a Great Fan of Micro-Investing Apps?

There are multiple reasons as to why millennials prefer using micro-investing apps:

1. Zero Deposit 

Traditionally, an amount had to be deposited to get started with the investing process. However, with the arrival of micro-investing, the ball is in the investor’s court. App users can start investing by putting as low an amount as $1.

2. Increased Convenience 

It’s not hidden that mobile apps add to the user’s convenience and are easy to use. Therefore, micro-investing apps do the investing job virtually without any additional effort. Moreover, setting up an investment account only takes a few minutes, and there are no lengthy formalities to be followed. 

3. Inspires a Saving Habit  

Why not use a few extra cents to invest that otherwise would end up on your coffee table? 

Micro-investing takes down the burden of investing a big sum and instead inspires a saving habit. 

Micro-Investments App Development: A Worthy Thought?

Since so many people are dedicated to micro-investing apps, don’t you think micro-investments app development is a tremendous monetization strategy?

Therefore, if you’re looking forward to building one, listed below are some of the top-notch monetization strategies to consider: 

1. Premium 

With the help of your investment apps, you may charge a decent amount to your customers on a monthly or annual basis in exchange for services. However, it would be best if you offered a free trial period for your customers to figure out if the app is suitable for them or not. 

2. Freemium 

This approach enables the app users to enjoy the features of an app for free and pay for the advanced features. 

3. Advertising 

Digital advertising is a modern-day monetization solution; however, too much advertising can ruin the experience for the users. Therefore, keeping it subtle will attract more user engagement and retention. 

In a Nutshell! 

So, what are your thoughts about micro-investing plans and app development? 

If you’re looking forward to start saving, micro-investing is a great plan without having to invest large sums of money. 

However, if you want to build an app for higher revenue, then you must connect with the app development experts for professional advice. 

So, are you all set?