Investing and gamification
Investing is rapidly gaining popularity among young people. Since the savings rate is almost 0%, young people have started looking for other ways to build up assets. The specific construction of apps such as BOTS also attracts young people. And that means that as a platform you also have a responsibility to take.
Young people and investment
Talking about your finances is disappearing from the taboo more and more. Where previously people were careful with sharing their salary, for example, we see more and more that people talk openly about money. Investing is also gaining ground when it comes to interesting discussion topics.
The investment world seemed to be an impenetrable world, reserved for wealthy men in black suits. No place to build wealth for ordinary people. Managed investment was already possible through most banks. But even here, in most cases, there was a high entry fee.
A lot has changed in the last ten years. Banks have started to focus more on "the common man" by significantly lowering entry fees. In this way, managed investment became more and more accessible for everyone.
In recent years, more and more apps have also been developed aimed at simplifying managed investment. Do you have change and a smartphone? Then you can start using managed investing within five minutes. The appearance and use of the apps has become increasingly attractive through gamification. No wonder that more and more young people are finding their way to investing.
With the arrival of these young people, the responsibility you have as a platform has also increased more and more. Investing takes risks.
Criticism of investment apps
Last month, the FD published a critical piece on the Robinhood investment app. In principle, everyone can invest themselves with the app. The app is easy to use and you can start within seconds.
As prices plummeted at the start of the coronavirus outbreak, many aspiring investors smelled their chance and started investing. This resulted in 3 million more users for Robinhood.
As a user of Robinhood you invest all by yourself. You choose what and how much you want to buy. It's an easy to use app, so you can buy or sell those shares in no time. "At first, it looked like a game for your smartphone," says a user of the app.
And, according to the FD, that's where he's in danger. Don't invest like that. If you want to do it well, and actually build up power with it, you need bins of knowledge, experience and, if possible, a supercomputer.
Investing with BOTS works with such a supercomputer. The BOTS app is an open platform on which expert developers offer their bots. These bots invest for the user. They make their choices based on artificial intelligence, machine learning and algorithms. So bots are actually automated trading strategies.
Algorithmic investing has so far only been available to the richest 3% of the world. Exactly the 3% where gigantic profits were already made. In order to make this form of investment available to everyone, the BOTS app was developed.
The BOTS app also applies elements of gamification . "We do this mainly to make the user experience even easier and more fun. In addition, at BOTS you don't invest yourself, you are invested algorithmically". According to the founders of BOTS.
In practice, this means that anyone, young and old, can start investing without all those boxes of experience. That experience already has the bot for you. The user can choose the level of risk and the amount of the deposit. Because a bot will never trade unnecessarily if this is not necessary, the user will not be confronted with unnecessary transaction costs.
"This is the new investment. We take into account the wishes of the user, the risks involved in investing, the return and a supercomputer. As a platform, you take the responsibility that comes with a young audience".
Investing is for everyone
Everyone should be able to invest. And now they can. With BOTS. Together we are going to make the world of investment fairer and more transparent. Are you interested, but your question hasn't been answered yet? Take a look at the FAQs on our site. Or contact us, we will be happy to explain it to you in person.
The BOTS app is now live
There is no such thing as risk-free trading. It is possible to lose (part of) your stake.