Latin American Investors Can Now Buy Stocks From the US Market Using Cryptocurrencies
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Passfolio Securities, a US registered broker-dealer, wants to make investments in the United States stock market accessible for anyone in the world. With Passfolio’s app, people from more than 170 countries can fund their accounts using cryptocurrencies (via Passfolio Financial*). With Passfolio Securities, you have access to invest in 3,800+ US stocks, ETFs and REITs, with no commission fees* and with no account minimums to start.*
The platform is a game changer for investors in Latin America, where access to the US stock market was limited before. According to Passfolio’s CEO, David Gobaud, only a minority of the world’s population have access to United States investments nowadays. Through international transfer methods and partnerships with local exchange providers, Passfolio is democratizing the access to US stocks in countries like Colombia, Mexico, Argentina and many more from Latin America.
“Today people outside the United States often need hundreds of thousands of dollars to invest in the US stock market”, says Gobaud. “We reduce the minimum to $1 to invest in US stocks such as Tesla, Apple, and Amazon”.
If you live in an emerging country, investing in US stocks can be an interesting way to reduce your exposure to local markets and hedge your portfolio against economic downturns in your country (consider the economic crisis in Venezuela or Argentina, for example). In addition to diversifying your portfolio, investing in the US allows you to access potential growth opportunities in a relatively strong currency: the US dollar.
Cryptocurrency Support
Passfolio makes it possible for users to fund their accounts using cryptocurrencies by first converting them into dollars through Passfolio Financial, then moving the dollar proceeds to their brokerage accounts at Passfolio Securities, where users are then able to buy stocks. This way, investors can deposit Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Zcash and other cryptocurrencies and access the US market.
Passfolio Financial connects investors to Gemini, a widely used global exchange (over 2.5 million BTC were traded on the platform in the past two years).
Earn up to $1,000 in Passfolio Contest
Passfolio Financial is hosting a crypto trading contest from October 23th to November 23th. All you have to do is have at least US$1,000 in crypto trading volume in the Passfolio app during the contest period, and you can earn up to US$1,000 for that.
Find out more information about the contest here.
No Commission Fees for Stock Trades
Commission-free US stock trading was popularized by Robinhood a few years ago and is now common in the United States among other broker-dealers.
Passfolio’s mission is to democratize investment opportunities, so they believe charging high trading fees is unfair and unjust. “If US citizens are able to invest commission-free, why can’t you?”, says Gobaud. “The simple answer is there is often no reason other than foreign brokers lining their pockets”.
For US stock trades, Passfolio Securities offers commission-free* trading for assets priced at $5 or more. You can find more details about the applicable fees here.
How to Get Started
To get started, you can sign up with Passfolio Securities using this link. It only takes a short amount of time to create an account!
Once your account is approved, simply download the Passfolio app on your phone to start investing. You can deposit crypto into your Passfolio Financial* account by getting your Passfolio crypto wallet address on the “Transfer” tab in the app.
* Disclosures:
Passfolio is the brand name of Panchain, Inc. Passfolio Securities LLC and Passfolio Financial LLC are fully-owned subsidiaries of Panchain, Inc. Securities and cryptocurrencies are very different types of assets. Cryptocurrencies are not securities. Purchasing cryptocurrencies comes with a number of risks. Please read Passfolio Financial Cryptocurrency Risk Disclosure. Currency and cryptocurrency exchange services provided by Passfolio Financial LLC (“Passfolio Crypto”), a US Money Services Business registered with FinCEN. Passfolio Financial LLC is not a broker dealer. Cryptocurrencies are not protected by either FDIC or SIPC. Securities products and services offered to self-directed investors through Passfolio Securities LLC Member FINRA / SIPC. Passfolio Securities, LLC does not provide cryptocurrency-related services. Passfolio Securities LLC is a member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org. To purchase securities using cryptocurrencies, you must first convert it into U.S. Dollars using Passfolio Financial LLC. You must then move the U.S. Dollar proceeds to your brokerage account at Passfolio Securities LLC where you can use it to buy securities.
Securities less than $5 cost $0.02/share. Please see Passfolio’s disclosures on other charges.
Please see Passfolio’s fractional shares disclosure.
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