Grifin: Stock Where You Shopfor iOS

World economies have advanced immensely since the early bartering system. They’ve since then begun to move to one of cryptocurrencies and securities. These securities carry the potential to grow exponentially or fluctuate erratically. You’ll find that the wealthiest 1% of U.S. households account for over half the value of equities available to the public. Grifin: Stock Where You Shop seeks to change this by automatically assigning a portion of your total spend into the company’s stock.

The background

Aaron Foug, co-founder of this stock purchasing application, mentioned in an online publication that, ‘... Investing in stock is an emotional process...’ This point is valid, as acquiring stocks or securities can be a daunting task. How does the market work? How much do you need to put in? How do you find the stocks available to pursue? These questions elicit apprehension due to the lack of access to a funding platform. 

How does it work?

Participating share options are loaded onto the program background. Next, you need to link a bank account to your profile. Secondly, add your card details to the application. The application now loads all participating vendors to your profile. All you need to do now is shop as you would normally. 

For every purchase you make, $1.00 is allotted to acquiring the stock of that company. If there aren’t any stock-purchase options available, your $1.00 is added to your investment pool to allot as you please. For any business not participating in stock purchases, your $1.00 is saved into an interest-accruing account, which you can disburse as you please.

The other options

Robinhood is a great platform, except for its ability to control sales for individual stocks. Alternative apps vary in this sector, and you’ll find apps that require intermediate to advanced knowledge. WeBull and Tradestation make acquiring stocks seamless, with minimal fees. Public, on the other hand, is ideal for beginner investors.

Our take

Financing the purchase of stocks is made effortless with the Grifin app. Making the leap from absolute beginner to novice stock trader takes courage, and parting with large sums of money isn’t easy. Downloading this app can help you gain experience with investing.

Should you download it?

Yes. Grifin is a great place to start to develop familiarity with the acquisition of stocks. Other apps you can try include Robinhood, WeBull, and Tradestation.