Tools/Apps to help with Investing
As all great investors say — one should hedge the risks by allocating a part of the capital in different asset classes. While bank F.D.s, P.P.Fs are okay for those who have a low-risk appetite and those who are not much concerned about inflation, equities are for those who want higher returns with some risks(unless you play with options and without a Stop Loss). In the last couple of years, crypto and alternate investments have boomed a lot. Angel investments are not considered in scope for this article. We briefly touch upon the metal asset class too.
Share Market
My second innings with active share market investing started post-2020 lockdown after the market boomed a lot. A lot! Passive investments via Mutual funds and NPS have been on for some time. In this article, I am sharing the tools/apps that have helped me in the past year or so.
One of the major mistakes that most people commit in the share market is ‘selling their winners early and keeping their losers for long’. Without any technical analysis or fixed set of rules, it’s very difficult to decide on what to buy, how much to buy and when to exit. Tips based investing can get some short profits or losses but does not work in the long term. This is where the below tools/apps come in, to help set some rules for disciplined investing. On the weekends, I do spend time with these tools/apps for deep diving into the markets and to learn more about investing in markets.
Crypto
The traction that Crypto has got in India in the last year is phenomenal. After having used 3–4 apps for crypto investments, I have shortlisted 3 that I use/ plan to use.
Alternate Investments
Some of the recent fintech startups allow alternate investments. Better than bank FD but having a lower risk than markets. At least this is what they say. So I have experimented with 1–2 investments through these apps.
Gold & Silver
Silver ETFs will be available soon in India. Looking forward to the same. Buy physical silver and gold works best however storing them securely is a mess at times. So digital gold and sovereign gold bonds are a good option.
Here’s an infographic for current tools/apps I use:
