Unifimoney Review: Score Up To A $1,000 Bitcoin Reward Signing Up For This Fintech Super App
Unifimoney is one of a kind in the growing fintech space — an investing and money management app that is essentially a fintech super app. Truly, Unifimoney is the only multi-asset investment app out there. Started in March 2019 by Ben Soppitt and Edward Cortis, it is truly a one-stop shop when it comes to fulfilling its users’ money needs — offering everything from both passive and active investing options, a high yield checking account, loans, health savings accounts, and a Visa Signature credit card.
In this review we’ll cover Unfimoney’s various features, who the app is best for, and also share our final thoughts on the app. Did we mention if you sign up you’ll get up to a $1,000 Bitcoin reward? Yeah, you’re going to want to keep reading.
Table Of Contents
Investing, The Unifimoney Way
We mentioned this earlier, but Unifimoney is the only multi-asset investment app out there. It offers its users incredible freedom coupled with support when it comes to investing. What to buy fractional shares of Fortune 500 companies and crypto? You can do that on this app. Want your investments managed for you based on your risk tolerance? You can do that, too, via this app. Want to see your money grow over time, but don’t have hundreds of thousands of dollars to invest this second? Unifimoney is a great resource in that regard because it encourages auto-investing.
Unifimoney is going head to head with a lot of other investing apps that are offering commission-free trading and the ability for users to create their portfolios completely on their own. The big difference with Unifimoney is the many other features that the account comes with. With Unifimoney, users can invest with as little as $1 in fractional shares and also trade various alternative investments. As soon as you open a Unifimoney account you’ll be ready to start trading.
With Unifimoney users can trade:
- US equities
- American Depository Receipts (ADRs)
- Bitcoin, Ethereum, Dogecoin, and 30 other crypto tokens (available via Unifimoney’s partner Gemini)
- Gold, silver, and other precious metals
Unifimoney gives its users a great amount of ease when it comes to investing in exactly what they want to invest in.
Unifimoney’s Robo Advisory
Beyond allowing its users to actively invest, Unifimoney users can also passively invest via the app’s robo investment account which is automatically opened for Unifimoney users when they sign up. There is a $25 minimum contribution to this account each month (users can elect to contribute more of course and also contribute lump sums). What this means exactly is that Unifimoney users are automatically and by default dollar cost averaging and learning the skillset it takes to build wealth over time. This is just one way that Unifimoney supports its users on their journey of building wealth in ways that aren’t financially daunting. Another way? Unifimoney’s checking account (see below) pays .20% APY. Well, that interest automatically gets invested into this robo account.
As for the portfolios of these robo accounts, they are designed using artificial intelligence and a Quant based portfolio design. They are also built and managed based on a person’s risk preferences.
Of note, even though there is a minimum $25 contribution each month, users can withdraw this money at any time.
Unifimoney’s High Yield Checking Account
Unifimoney is not a bank but does offer a checking account in partnership with UMB Bank which is a member of the FDIC. Banking with Unifimoney versus one of the long-established brick and mortar banks comes with a lot of advantages, particularly in the form of interest, which Unifimoney then invests for its users.
Accounts come with features including:
- A Visa debit card (more information below)
- Bill pay from mobile at 20,000 merchants
- Free cash withdrawals at Allpoint ATMs
- Remote check deposit
- Checkbook option
- Money transfers available via ACH and wire transfers
- $100 minimum to open an account
- No monthly account fee with a minimum monthly deposit of $2,000 or a minimum balance of $20,000
- .20% APY on the checking account— a savings-level interest rate (more information below)
High-Yield APY: This is one of the rare checking accounts that offers interest on deposits — .20%, which is more than most savings accounts in the US. Unifimoney then helps its users earn even more on that interest, by automatically depositing that money earned on interest into their robo investing account. This is one of the many examples of Unifimoney helping their users accumulate small wins that will build into big wins over time.
The Visa Debit Card: Unifimoney’s Signature Visa Debit Card comes with some cool perks. First, it is made of recovered ocean-bound plastic, and every time the card is used, Unifimoney will donate in support of The Ocean Foundation. It also comes with free ATM withdrawals at more than a million ATMs in more than 179 countries.
Unifimoney’s Unifi Premier Credit Card
This Visa credit card will start to be available to Unifimoney users in Q3 of 2021. Cash back will come in the form of gold, Bitcoin, or an equity investment contribution. The cards will be made of recovered ocean-bound plastic, and Unifimoney will donate to the Ocean Foundation every time the card is used. It will also come with standard Visa Signature benefits like auto rental insurance, identity theft protection, and more.
Given this credit card is aiming to compete with premium travel rewards cards like the Chase Sapphire Reserve card we are excited to watch this space. The Chase Sapphire Reserve card, for instance, comes with 3x points on dining and travel, 10x points on Lyft rides, and a $300 yearly travel credit, so competitive benefits in the form of gold, Bitcoin, or an equity investment contribution are going to be truly one of a kind and pretty stellar.
Other Money Management Tools
Home Loans and Refinancing: Get access to a .5% discount off a loan and a free home management platform.
Car And Vehicle Loans: Unifimoney customers can earn .50% cash back on any car, bike, boat, plane, motorbike, RV, or other vehicle loans taken out via their partner program.
Home Improvement Loans: Get up to a $1,000 bonus on a home improvement loan taken through Unifmoney’s partner program.
Car Insurance: Apply for a quote via Unifimoney’s partner Gabi and get a $15 Bitcoin credit.
HSA: Get access to a Health Savings Account [HSAs] with no monthly fee and 1% cash back on the first transfer.
Is Unifimoney Worth It?
For the right person, absolutely. Unifimoney stands apart by allowing its users to both actively and passively invest. Also, by encouraging their users to succeed via small wins continuously — like earning interest on money in a checking account and then investing that interest — they are helping their users achieve big wins over time, especially given that any amount invested is going to compound over time. There are a lot of people who are going to find Unifimoney to be a great option for their money and investing needs, but high-earning professionals should especially consider it.