Cash App has become a popular way for novice investors to start trading stocks and ETFs. With its easy-to-use interface and zero commission trades, Cash App makes investing accessible. However, the sheer number of available stocks can be overwhelming for new investors. Here are some tips on how to find good stocks to invest in when using Cash App.
Focus on established, large-cap companies
As a new investor on Cash App, it’s generally wise to stick to large, established companies that are less volatile. Look for companies that have been around for decades, pay dividends, and have stable growth.
Consider index ETFs for diversification
Rather than picking individual stocks, index ETFs like SPY and QQQ provide instant diversification. They track major indexes like the S&P 500 and NASDAQ-100 for steady, passive growth.
Use Cash App’s browse feature to find ideas
Cash App has a browse feature that lets you search stocks by category like ‘Technology’ or ‘Dividend Stocks.’ This can be a good starting point for finding established companies to research further.
For new investors looking to get started on Cash App, focusing on steady large-cap stocks and diversified ETFs is a good way to build a solid portfolio. Always research before investing.