Have you ever wanted to start investing in stocks, but are never sure where to start? What if I told you there is a way to begin owning stock in the companies you love for free?
Bumped is an interesting new App which allows you to do just that! It is a way to get free stock from your favorite brands. It is a new version of a customer loyalty program, instead of giving you points or air miles as a reward, Bumped rewards you with small amounts of stock in the companies you purchase from which can increase to a significant amount over time.
Bumped was founded in 2017 in Portland, Oregon by Founder and CEO David Nelsen. The concept of the App was for it to benefit both business and consumer by the consumer gaining free stock and the business gaining greater customer loyalty. A win-win for both!
Most of us have always dreamed of building up a selection of stocks, but either lacked the funds or knowledge about how to go about it. Bumped is an entirely free and no risk way to start. This may seem like a small beginning, which it is, but if you had bought Amazon at $18/share during the original Initial Public Offering in 1997 they would as of today be worth around $1780 which is an incredible increase. Bumped just a small illustration of the vast potential in owning stocks. Perhaps today is the day to get started!
There are a wide variety of companies (which are constantly being added to) that participate, from pizza restaurants including Pizza Hut and Domino’s to superstores such as Walmart and Target. A full list of participating businesses is available when you sign up. There are now around two dozen categories available and you may choose to enroll with one available business from each.
As a general rule, you can expect between 0.5% to 5% of the total you spend back in stock from each purchase. Clearly, this is not a “get-rich-quick” scheme and it is a long term project to gradually build up a significant amount of stock in the companies that you like to use. Over time, you have the potential to build a valuable asset at no cost! Where else can you find that?
The best part:
There are absolutely no fees involved with signing up for and using Bumped! As the app is still fairly new there is a waiting list to join, but once your membership is activated, all aspects of using the app are completely free.
How Simple is it to Enroll in Bumped?
The process is actually very straightforward. It is just a case of downloading the app and linking a United States credit or debit card. One thing to consider is that this is a new App and they have decided to scale their business over time, so there is a queue to join. However, simply register and Bumped will notify you when you can activate your account. The whole process is quite easy.
Is Bumped Truly Risk-Free?
The only possible drawback that I can see is if you are uncomfortable with sharing your personal details. You will need to provide your name, address, etc and sign up using a valid United States issued debit or credit card. However, Bumped is a legitimate business which has to follow the rules and regulations of the industry.
There is no restriction on buying from other businesses, of course, but in order to get the free stocks, you need to use the credit or debit card you linked with Bumped to buy from your selected companies. It is possible to change your selected companies from time to time and these conditions are covered on the Bumped website.
There are no charges at all to sign up, earn stocks or any kind of brokerage fee. It is as it claims – free.
Are There any Cons associated with Bumped?
There is a possibility that your hopes and expectations could be raised too high by this opportunity. You will just have to realize, that this is a long term approach to becoming a stockholder and it will not make you wealthy overnight. If it whets your appetite for owning stocks, there is nothing to stop you buying more and increasing your portfolio!
Overall, I feel confident in saying there are no significant cons to be concerned with.
David Nelsen has created a really interesting App here with Bumped. It does appear to benefit both the business and the consumer. By simply signing up and registering you gain free stock which has the potential to increase significantly in value over the coming years. If you were going to spend your money anyway on a business such as Home Depot, what is the downside to also be given Home Depot stock for free?
Bumped is a great opportunity to make a start building your stock portfolio. It is a truly risk-free way to begin.
There is no charge to you at any stage and the process could not be any simpler.
I fully recommend signing up for Bumped, and who knows, it might ignite your interest in the stock market and lead to something wonderful!