How To Save In Dollars On Piggyvest

How To Save In Dollars On Piggyvest

Are you looking to learn how to save in dollars on Piggyvest? You’ve come to the right place. PiggyVest is this awesome platform that lets you save and invest in dollars, thanks to their cool Flex Dollar feature. With Flex Dollar, you can easily convert your naira to dollars in a flash, whether it’s from your Flex (naira) wallet or your trusty bank card. The best part? You can kickstart your dollar journey with just a measly $1 and score up to a sweet 5% interest per year on your savings.

How To Save In Dollars On Piggyvest

To start saving in dollars on your PiggyVest Flex Dollar account, follow the following steps:

Step 1: Download and install the PiggyVest app on your smartphone (If you don’t already have one)

To start saving and investing in dollars with PiggyVest, you need to have their app on your phone. Depending on your device, you can download it for free from the Google Play Store or the App Store. If you already have the app, you can skip this step and proceed to create an account.

Step 2: Create an account on the platform

Once you’ve got the app all set up on your phone, it’s time to sign up, my friend! They’ll ask you for some personal deets like your name, email, phone number, and bank account info. Oh, and don’t forget to create a password and pick a security question to keep your account locked down tight. 

To make sure it’s really you, they’ll send a verification code either through text or email. Just punch that code in, and boom! You’re officially registered and good to go. Now you can dive right into the PiggyVest action, start saving, and get your dollar investment game on!

Step 3: Log in to your account after creating the account

Once you’ve successfully set up your account, it’s a breeze to access it whenever you want. Just open up the app and punch in your trusty email and password. And hey, if your phone supports it, you can even use your fancy fingerprint or face ID to unlock it in style. 

As soon as you’re in, bam! Your dashboard pops up, showing off all the deets you need. Check out your savings and investment balances, peek at your transactions, and scope out your plans. 

Step 4: On the homepage, tap on the “Savings” icon

To begin saving in dollars, you must access the Savings section of the application. This can be located on the bottom menu of the homepage, signified by a piggy bank icon. Tap on it and you will then be presented with various PiggyVest savings options, like Piggybank, SafeLock, Target, and Flex Dollar.

Step 5: Tap on “Flex Dollar”

In order to save in dollars, you must go to the Savings section and choose the Flex Dollar option which is represented by a dollar sign icon. Tapping on it will provide your Flex Dollar balance, interest rate, and transactions. Moreover, it allows you to fund this account, withdraw funds or transfer them to another user.

Step 6: Tap on the “Fund my Flex Dollar to buy dollars” option on the page

To purchase US Dollars with your Naira, you must select the “Fund my Flex Dollar to buy dollars” option located on the Flex Dollar page. There is an icon resembling a plus sign that appears beside it. Clicking on it will bring up a page where you can enter how many USDs you want to purchase and see the exchange rate. You can also check the amount of Naira needed as well as any associated fees.

Step 7: Enter the amount in dollars you wish to buy

In order to determine how many dollars you would like to purchase, please enter the amount in the area indicated on your screen. You are able to type it in via the keyboard or adjust it using the slider, purchasing anywhere from $1-$10,000 at a time. The amount entered will be automatically converted into naira and visible beneath.

Step 8: Select a funding source (Naira debit card or Flex Naira account), and complete the transaction.

You must select a funding source from the list of alternatives on the screen in order to pay for the dollars you wish to purchase. Either your Flex Naira account or your Naira debit card are options. You must input your card information and authorize the transaction if you plan to use your card. 

You must have enough money in your Flex Naira account to cover the expense if you utilize it. You can hit the “Buy Dollars” button to confirm the transaction after choosing a financing source. When the transaction is successful, you’ll get a message, and the money you spent will be added to your Flex Dollar account.

How To Save In Dollars On Piggyvest

Benefits of Saving in Dollars on Piggyvest

  1. Diversify Your Savings: By saving in dollars, you’re diversifying your savings game. It’s like adding a new flavor to your financial portfolio. Not putting all your eggs in one currency basket, you know?
  2. Hedge Against Inflation: Dollars have a reputation for being a solid hedge against inflation. So when your local currency starts doing the inflation dance, your dollar savings stay relatively chill. It’s like having a secret weapon against rising prices.
  3. Access Global Investment Opportunities: Saving in dollars opens up a whole world of global investment opportunities. With PiggyVest, you can explore various investment options in the international market. It’s like expanding your financial horizons and tapping into exciting ventures beyond your borders.
  4. Flexibility in Converting Currencies: PiggyVest’s Flex Dollar feature gives you the power to convert your naira to dollars whenever you want. So you can take advantage of favorable exchange rates and make the switch seamlessly. It’s like having a currency converter at your fingertips.
  5. Earn Interest in Dollars: Here’s the cherry on top: PiggyVest lets you earn interest on your dollar savings. Your dollars can grow while chilling in your PiggyVest account. It’s like getting paid for just saving money.
  6. Shield Against Currency Fluctuations: Currencies can be pretty unpredictable at times, but saving in dollars helps shield you from those wild currency fluctuations. When your local currency takes a rollercoaster ride, your dollar savings remain more stable. It’s like strapping on a seatbelt for your savings and keeping them secure.
  7. Easy Accessibility: With PiggyVest, accessing your dollar savings is a piece of cake. You can conveniently withdraw your dollars whenever you need them. So whether you’re planning an epic vacation abroad or need some emergency funds, you’ve got easy access to your savings. It’s like having your dollars ready and waiting at your fingertips.
  8. Peace of Mind: Saving in dollars can bring you some serious peace of mind. Knowing that you have a stash of dollars tucked away provides a sense of security and a backup plan. It’s like having a financial safety net that gives you peace in uncertain times.
  9. Protection from Local Economic Challenges: Having dollar savings can be a game-changer if your local economy goes through some rough patches. It offers a layer of protection against economic challenges and helps you maintain financial stability. It’s like having a shield that guards your savings during tough times.

Conclusion

And that’s how to save in dollars on Piggyvest. Saving in dollars on PiggyVest is like unlocking a whole new level of financial awesomeness. You get diversification, protection against inflation and currency fluctuations, global investment opportunities, easy accessibility, peace of mind, and a shield against local economic challenges. It’s like having a superhero sidekick for your savings, ready to take on the world. 

So why wait? Get on PiggyVest, save those dollars, and watch your financial game soar to new heights.

Frequently Asked Questions

Can I start saving in dollars on PiggyVest if I don’t have a lot of money?

Absolutely! You can start with as little as $1. It’s like dipping your toe into the dollar-saving pool without breaking the bank.

Is my money safe on PiggyVest?

Totally! PiggyVest takes your money’s safety seriously. They use top-notch security measures to keep your funds locked up tight. 

Can I withdraw my dollar savings whenever I need them?

PiggyVest gives you easy access to your dollars. Whenever you’re ready to make a withdrawal, they’ve got your back.

Can I earn interest on my dollar savings?

Absolutely! PiggyVest wants to reward you for being a savvy saver. You can earn up to 5% interest per year on your dollar savings. It’s like getting a little bonus just for keeping your dollars safe.

How do I convert my naira to dollars on PiggyVest?

With PiggyVest’s Flex Dollar feature, you can instantly convert your naira to dollars. Just use your Flex (naira) wallet or your bank card, and voila!

References

  • How to Save Dollars on PiggyVest ( 2023) (kobocents.com)
  • A Guide To Saving And Investing With Flex Dollar | by PiggyVest | Medium

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