Bloom is an application that aims to help young adults and teens learn about finance, investing, and building wealth. It has a community of over 1 million users who are all striving for financial freedom and knowledge. The app offers over 300 interactive lessons on various financial topics, from basic investing to more advanced concepts like diversification and fundamental analysis. Users can also test their knowledge with quizzes and earn stock rewards.
In addition to learning, Bloom also allows users to invest in over 5,000 stocks and ETFs with $0 commissions. They can also automatically copy the investments of top politicians and billionaires through Auto-Portfolios. The app also offers fractional shares, allowing users to start investing with as little as $1. Users can set up investing strategies and receive price alerts on their favorite stocks. They can also invest in cryptocurrencies like Bitcoin and Ethereum.
Bloom also offers opportunities for users to earn money through completing lessons, quizzes, and participating in mock investing tournaments. They can also exchange points, called "Oinks," for real stock rewards. For parents of teens, Bloom offers a UTMA/UGMA custodial brokerage account with industry-leading parental controls. Parents can approve their teen's stock trades, monitor their progress, and control which assets they can buy and sell. The app also offers flexible and safe funding options, such as setting up an allowance or allowing teens to fund their own account.
Overall, Bloom is a comprehensive app that not only teaches users about finance and investing but also provides them with the tools and resources to start building their wealth. It also offers a safe and controlled environment for parents to guide their teens in their financial journey. With its user-friendly interface and constant updates, Bloom ensures that users will always have something new to learn and opportunities to grow their knowledge and wealth.