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Luckily, Forbes Advisor spent 6 months testing across a variety of categories most important to investors. Those categories included commissions and fees, platform and technology, range of product offerings, research and education, account security and customer service.
A few categories may have been overlooked. The major one being your potential for high return on your investment. After all, at the end of the day, your investments should earn you the highest yield possible, right?
Exceeding your financial goals has never been easier.
We are fortunate that we now have access to online platforms that allow us to build wealth quicker each and every day and with less effort. We can, with a touch of a finger, invest in stocks, bonds, mutual funds and ETFs and more.
Traditional financial brokerages have formed online platforms to keep up with users wanting more connection to their investment. They mainly deal in stocks and ETFs. A good option for retail investors.
New investors might enjoy using the simplified offerings that these next generation of apps have to offer. Works best for those just starting out or looking to invest a small amount of funds.
Experienced investors and those that do not mind the high volatility associated with cryptocurrencies can gain a high-yield. However, they often pay the price in some form or another. Time spent monitoring exchanges and the cost of switching protocols does eat into yield potential.
Investments in alternatives like art or wine are probably the most fun type of diversification but generally speaking options like these don't offer the high returns that could be gained by money invested elsewhere.
Only a small percentage of these online investment platforms benefit from the high yields that are consistently shown to be associated with cryptocurrency lending.
Even fewer are those that are easy to use, simple on our taxes and make sense for our wallets. Those new to the crypto market would be surprised to know that you require your very own special wallet for your cryptocurrency. Dealing with these wallets often issues a security concern for most users.
Thankfully, there are ways to gain on stablecoin lending interest rates without the need for owning and daily management of your own crypto wallet. By never outright owning the stablecoins in the first place, investors will see consistent gain while still keeping security at top of mind.
Learn more about how accredited investors can win with PennyWorks.