Risevest also known as rise, is a digital dollar asset manager that connects Nigerians to foreign investments like Fixed Income, US Real Estate, and US Stocks. In this post, you will learn how to use Risevest, how to invest, withdraw your money, and more.
What is Risevest, and how does it work?
Rise works like a personal investment manager and adviser. The only difference is that this manager is not a human but an app that lives inside your mobile phone. Funny, right?
With Risevest, you can invest in dollar-denominated assets carefully. These assets will yield safe and consistent dollar returns over a period of time. It can be 4 months, 6 months, or a year.
Risevest invests in profitable companies like Google, Alibaba, Apple, Tesla, and the like. Basically, this platform does two things for its customers.
1. Risevest acts as a fund manager. Risevest doesn’t leave its users to figure out which stocks to buy on their own. Instead, Risevest takes control of your money and uses it to invest on your behalf.
2. After taking control of your money, Risevest will provide you with three investment products. Here, you can choose which one(s) to invest in, depending on your risk appetite and estimated return on investment.
Is it safe to use Risevest?
Speaking of security and protection from cyber-attacks, your money is safe with Rise. The mobile app and all other systems maintain the same security standards as top-tier banks in the world.
The Security and Exchange Commission (SEC) regulates the Risevest app together with ARM trustees. The founder is also registered as an investment adviser by the United States SEC.
Who is the owner of Risevest?
Risevest was founded by Eleanya Eke Urum and Bosun Olanrewaju. Urum is a co-founder of crypto exchange, Buycoins while Bosun is a former fellow at Andela.
As of the moment of writing this article, the former is the CEO while the latter works as the CTO.
Risevest mobile app download
First, you can click here to register. Android phone users can download the Risevest mobile app from the Google play store. If you use an iOS device, you can also download and install Risevest from the Apple App Store.
What investments can you make on Risevest?
After downloading the app and registering an account, it’s time to start investing. Risevest offers three asset classes to its users. They can invest in any of them with a price as low as $10.
Fixed Income (low risk)
Fixed income is offered in the form of Eurobonds. This type of investment will pay a fixed amount of interest within a stipulated period of investment. This can be 3, 6, or 12 months.
Fixed Income is called so because of its specific interest and time. It also has a low risk and more guaranteed returns. This type of investment is suitable for investors with a very low-risk appetite.
Real Estate (more risk, more reward)
This asset class offered by Risevest provides users with a chance to invest their money in a list of high-demand commercial properties. Real Estate has higher risks than Fixed Income, and we’ll explain why.
Unlike Fixed Income, Real Estate is affected by many factors. An example we all know is a pandemic. This will affect rental income, meaning that it can result in a loss.
But here’s the thing. Real Estate has a higher risk, but also a higher return on investment when compared to fixed income.
Stocks (Highest risk, highest reward)
Now here comes the big guy. Investments in stocks have the highest risk when compared to real estate and fixed income. However, so is the reward.
Whenever you invest in stocks, there’s a possibility that your money will double within 12 months. There’s also an opposite possibility that all your investments will fall within 12 months.
Due to this, stocks are only invested in by users with great ambitions and a high-risk appetite.
How to fund your Risevest wallet
Before you can invest on Risevest, you have to deposit some funds in your wallet. The minimum amount of money you can invest is USD 10, so you should add more than this amount.
- From your dashboard, click on “add money”
- On the next page, 5 funding options will be shown. This includes naira bank transfer, crypto wallet, naira debit card (your usual ATM card), direct debit and USD credit card
- Select your preferred payment method and complete the deposit
Note: The USD debit/credit card option will take 1 working day to be processed. All other options will take no longer than 15 minutes.
How to invest on Risevest
Once your deposit has been confirmed, the next thing is an investment. Follow the steps below to invest on Risevest.
- From your dashboard, click on ‘create an investment plan’
- Select one of the available classes and start investing (you can choose from Fixed Income, Real Estate and company stocks)
- Whichever option you pick, you will be shown the estimated risks as well as the rewards. Input the amount you want to invest. The lowest possible investment on Risevest is USD 10
- Depending on the type of asset class you select, you can set your duration. It can be 3, 6 or 12 months
Risevest referral code
The Risevest referral code is: AOBVCBCO
How to withdraw funds from your Risevest account
Once your investments are mature, you can place withdrawals on Risevest. Here’s how to withdraw your money to a local bank account.
- From your dashboard, press the ‘Account’ button
- Click on ‘Bank & Cards’
- Click the ‘+ ‘ symbol to add your bank account
- Input the card details of the credit/debit/ATM card linked to your bank account
- Click on “save” and go back to your dashboard
- From your dashboard, press the “Withdraw” button
- Select the bank details you set earlier
- Input the amount of money you want to withdraw from your Risevest account
- Provide your transaction PIN
Note: Withdrawals take about 3 to 5 working days. The reason why this is so is because your money is invested in the United States.
It will take some time to liquidate, convert, and process.
Risevest transaction fees and service charges
Risevest charges service fees based on the percentage of returns earned for you. This can be between 1.5% to 2% of the total investment and returns.
The amount of service charges will depend on how much Risevest manages and makes for you in a year.
- Risevest does not charge a fee if your investment earns are below 10%
- Risevest will charge 1.5% if your investment with returns is between 10% and 15%
- Risevest will charge 2% if your investment with returns is up to 15% and above
You can learn more about Risevest management and service charges here.
Where is the Risevest head office located?
Risevest has a physical office in Nigeria where they manage the financial services they offer.
You can also visit the office for complaints and enquiries. It is located at 358 Herbert Macaulay Way, Yaba, Lagos State, Nigeria.
Risevest customer care and email address
For complaints and enquiries, you can reach out to Risevest via their customer care hotline, social media channels, and email address.
Phone Calls: +234 01 888 3519
Email address: [email protected]
