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Wednesday, June 19, 2024

Plynk Offers Refreshingly Easy Investing with an Emphasis on Education and Affordability

The Plynk App Helps New Investors Learn What Works
Mike Senecal

Written by: Mike Senecal

Mike Senecal
Mike Senecal

Mike Senecal draws on more than 20 years of editorial experience to update CardRates.com readers on industry trends, business news, and best practices in budgeting and credit use. Mike has worked for decades in academic and trade publishing, including roles as managing editor and technical editor at the University of Florida and as contributor to finance industry publications, including Surety Bond Quarterly and Independent Agent, among others. Mike holds bachelor’s and master’s degrees from the University of South Carolina, and he enjoys bringing his years of academic and industry expertise online to help consumers of diverse financial backgrounds.

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Edited by: Lillian Guevara-Castro

Lillian Guevara-Castro
Lillian Guevara-Castro

Lillian Guevara-Castro brings more than 30 years of editing and journalism experience to the CardRates team. She has written and edited for major news organizations, including The Atlanta Journal-Constitution and the New York Times, and she previously served as an adjunct journalism instructor at the University of Florida. Today, Lillian edits all CardRates content for clarity, accuracy, and reader engagement.

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In a Nutshell: Investing in stocks, funds, and crypto through apps has never been more available, which makes one wonder why so many potential investors shy away from the obvious opportunity. It could be because of the investment world’s traditional reliance on jargon, which often makes investing hard to understand for the average consumer and creates uncertainty and fear of possibly making mistakes. Plynk stands out in the fintech investment app space for its simplicity and emphasis on education through its innovative Plynk Think hub. If you’re new to investing and want to bring everything you have to the table, Plynk is worth your download and loyalty.

Plynk 4.5-star review

Why isn’t everybody an investor in stocks, funds, and even crypto? If you play your cards right, you can come away with much more in your pocket than you started. Investing is a fundamental strategy to achieve financial flexibility, independence, and a legacy of lasting wealth.

But there can’t be any benefit if you never find a way to move beyond the aspirational stage and start making trades. Just browsing around on an app, day after day, isn’t going to get it done. Sooner or later, you’ve got to take the plunge.

We think we know why so many people practice avoidance when it comes to investing: Most investment apps are too complex, too expensive, and all too happy to take your money with no questions asked or answered.

Plynk logo

Plynk addresses the uncertainties novice investors often feel by providing users with the information they need to feel comfortable investing in stocks, exchange-traded funds, mutual funds, and even that new kid on the block, crypto.

And with Plynk, you don’t have to worry much about making the wrong move with your money because you can get up and running with as little as a dollar. The team at Plynk calls its approach refreshingly easy, and we think the app ticks all the boxes for novice investors of all ages who want to move beyond the learner to the earner stage.

Head of Growth and Acquisition Maya Sudhakaran said it’s all about putting the puzzle pieces together for users to feel confident transforming aspirations into actualities.

“Our mission is to make investing as simple as possible for our users by leading with education to help them build a financial foundation,” Sudhakaran said. “We want everyone to know that it’s never too late, and every small step can make a difference.”

Explore Opportunities and Start with as Little as a Dollar

When we think about investing, our hearts end up in our throats because money’s on the line. Sure, it’s nice to think about a sudden financial windfall leading to wealth and independence, but investing is a discipline like anything else, and it takes practice and commitment.

After all, who among us has kept every New Year’s resolution to eat better and exercise? Learning to invest — and sticking with a plan through the inevitable ups and downs — is in many ways a similar commitment.

Plynk understands that, and we appreciate that very much. And it’s a big reason we’re so bullish on this app. Plynk Explore, a core feature of Plynk, helps by imparting confidence in users through its innovative quiz-based approach to theme-based learning.

Plynk onboarding
Plynk onboarding is refreshingly easy.

“Plynk Explore can help users even if they have no idea how to start,” Sudhakaran said. “They answer a few questions based on what they’re aiming to do, and the system will help them browse categorically for opportunities based on different themes.”

Explore surfaces artificial intelligence initiatives, women-led companies, biotech firms, and much more, channeling users toward areas of interest they may not have fully developed that can serve as a jumping-off point. It’s easy to explore through Explore to home in on a winning strategy.

Expert ratings add context to decision-making by leveraging the web to assess the viability of various investment products as a basis of comparison. Sudhakaran said the ratings help users feel more comfortable with the zeitgeist around a particular stock, fund, or firm.

“They don’t need to believe us; they can believe the experts instead,” Sudhakaran said. “We’re not just an app telling you what to do — there are people and data behind what we recommend.”

Education Hub Can Take the Guesswork Out of Trading

Next comes Plynk Think, where learning takes center stage. Sudhakaran said the Plynk team prides itself on providing cutting-edge learning and insights to lead novice investors from aspiration to actualization. An educational portal on the Plynk website provides additional guidance and context.

One of the most intimidating hurdles novice investors face is the hurdle of industry jargon: big words that mean small things. Trust us when we say that jargon is a fact of life in all areas of the financial services industry, and it’s never not annoying. It’s often condescending and purposely obscure, and it can put up enough of an obstacle to discourage the timid from ever starting their investment journey.

“Plynk Think translates little nuggets of jargon into clear and simple language,” Sudhakaran said. “Our motto is that we make investing refreshingly easy, and Plynk Think is a major way we accomplish that.”

Plynk education features
Emphasis on education reduces investing guesswork.

Plynk takes those lessons to heart in the way it presents app content. The team (which includes many expert professionals who understand financial jargon perfectly well) constantly combs text and images in the app for expressions that may put up roadblocks.

These features make Plynk the ideal starting point in a market where the number of investment apps seems to grow exponentially. There’s not a lot we can say when an app sets out to part users from their money without giving them a fighting chance. As the refreshingly easy motto indicates, Plynk is not that kind of app.

Everything looks fresh and friendly, and when you review as many apps as we do, that’s a welcome surprise. Plynk sets out to welcome users to investing and help them find a comfortable chair.

“We believe leading with education means helping users build a foundation to better their financial future,” Sudhakaran said.

A Welcoming Environment for a Better Financial Future

In the final analysis, that’s why so many American households dabble in this market. Plynk’s extensive research indicates there’s a market for an investment app that takes those prospective investors into account.

Market research also indicates there’s space for an investment app that doesn’t get in its own way with unnecessary fees and financial obstacles. Plynk is a commission-free environment; users only need a dollar to dip their toes in the water.

The Plynk website includes helpful FAQs to help users understand the app and the company. A section on crypto informs investors about what’s different about digital currency as an investment vehicle and what’s not.

Maya Sudhakaran
Maya Sudhakaran is Head of Growth and Acquisition at Plynk.

Plynk also offers incentives on the principle that you only need a dollar or two to start a journey that may lead to millions. For example, every user who links a bank account to the app receives $10 to invest. That may not seem like much, but it’s ten times the minimum investment, and the Plynk team knows from experience that a little nudge often goes a long way.

Plynk also matches deposits of up to $75, so users who place a little faith earn a significant reward they can turn into something even more significant. Plynk offers a money market account that pays rates above typical savings rates for those who aren’t quite ready to subject their assets to the vagaries of the market.

Meanwhile, the mantra at Plynk is to stay the course. The app teaches that the best strategy for weathering financial fluctuations is to take the long view. Experience consistently shows that to be true.

To ensure the app fulfills expectations, the Plynk team surveys users and experiments with product design in several highly structured ways.

We like the approach, love the app, and wholeheartedly recommend it to anyone ages 18-88 and beyond who’s been thinking about taking the investment plunge but doesn’t know where or how to begin.

“We want people to invest because it helps them grow their money over the long run,” Sudhakaran said.

We couldn’t agree more.