Characteristics of your typical entrepreneur is self-motivated, versatile, and tends to have a great tolerance for risk. So the great question is, shouldn’t these be the traits to follow if you plan to delve into investment as a side-hustle? Ways like reading up on trades and researching which stock is best to purchase at the moment is fine, but it sure won’t be enough to provide real returns anytime soon. Plus, you may even spend more in commission fees than you initially planned for.
While many investors and those aspiring to be one or have an interest in the field have heard about Robinhood, there is another app that’s super helpful – Gatsby. Gatsby is an investment platform that specializes in a specific aspect of trading and that’s options trading. The app gives you greater control and insight over your investment than simply just purchasing stocks in a company you have no knowledge about. Some of the app’s critics though say that the app allows for easy trade of a complicated security. But Gatsby has stated that options trading does not need to be as complicated as it seems. Why? This is because, to the general public, options trading is such a risky type of investment than your regular stock trading. However, the returns can be quite higher than you would expect. Because of this complexity, most amateur investors stay away from this area.
Gatsby is working hard on changing this paradigm. It makes options trading a seamless experience and a whole lot more incentivized. The app’s interface is simple, yet it makes the complex processes of trading options clear, understandable and even social to a point. The app even pays you to trade with its rewards program. Every time you trade, you earn points which can be redeemed for gift cards from major retailers.
The bottom line is, if you plan on going all-in on investing as your side-hustle, you will need to expand your strategy all while being open to take risks.