I just recently started on this Sofi journey. Here is how it happened. So I'm always looking for ways to make money, and I ended up finding a promo online about Sofi, a relatively new bank which white labels Bancorp to provide their services which entails not only just banking, but also cryptocurrency investing, stocks & etfs fractional trading, loans and more. Anyway, they were offered $125 in free cash for just depositing $100 into their bank, and an additional $75 if I have $500 of direct deposits within a given period of time (promotion might not be available anymore). Easy. Boom, I sign up to the bank.
Then later, I find that they also gave me a free fractional share of $TSLA, and then one thing leads to another and I decide to start using Sofi as one of my portfolios to track. As I mentioned in another blog, each portfolio has different uses. For this account, I will not be spending too much money or time on it, but I will be carefully watching it if it grows or declines within a given period of time. It was essentially a no brainer to sign up and spend some money on buying some crypto through their platform because they were giving away $25 worth of free crypto if I bought any amount of cryptocurrency. I decide to transfer over $25 worth of cash and buy $25 worth of $BTC. Sure enough, they rewarded me with $25 of free crypto. For this portfolio, I will decide what I want it to focus on, but for the time being, I will be dollar cost averaging into Tesla and Bitcoin as I get the chance. As an experiment, I will start tracking this on a weekly basis to see whether it grows or declines in the short to long term. Stay with me for this journey of course!
So inadvertantly I decided to open a new investing account. It was as a result of them providing me with a free fractional share of $TSLA and me deciding to take advantage of all of their promotions. So far, I'm really impressed with this platform. Stay tuned as I begin tracking this as one of my portfolios on my YouTube Channel as well as on my blogs.
Start Date: 8-19-20
Initial Cost Basis: $25