While the Robinhood trading app gets all the attention, most financial professionals agree that short-term trading isn’t the way to build long-term wealth. Here are some apps that help.
Many are calling decentralized finance, or DeFi, the “Wild West of finance.” This fast-growing industry aims to provide automated banking services for cryptocurrencies to everyone, with no middle men. But DeFi is still in its early stages, which means there are risks. WSJ explains. Photo illustration: Tammy Lian/WSJWhile Robinhood Markets Inc.’s trading app gets all the attention, most financial professionals agree that short-term trading isn’t the way to build long-term wealth.
The app was all the rage last year—with its stated goal of democratizing investing, while at the same time coming under fire for fueling an online-trading frenzy that left many short-term investors burned.