How to Sign Up on Robocash and Earn 12% per Year
In this article, you will learn how to sign up on Robocash and start investing in short-term loans with an interest of 12% per year. It takes no more than 5 minutes.
Robocash is a Croatian P2P lending platform that offers investors the opportunity to invest in short-term loans, secured by a buyback guarantee, with a duration between 7 – 60 days and an interest of 12% per year. Learn more about my experiences with Robocash in my in-depth review.
Requirements to start investing on Robocash
First things first. In order to sign up, you need to meet certain requirements. You should be over 18 years old and reside in the EU or Switzerland in order to sign up on Robocash. Investors also need to transfer their funds to Robocash from bank accounts in the EU. Note that you need to have a dedicated IBAN number to get accepted. Money transferring services such as Transferwise might not work (unless you have the borderless account). You can also open an EU bank account with a digital bank such as N26 or Revolut in order to invest on Robocash.
If you meet these requirements you can go on and sign up as explained in the following step by step guide.
1. Fill in Your Details
In order to sign up, you need to fill in some basic information such as your name, surname, email, phone number, country, and your gender. Also, don’t forget to accept the User Agreement before moving on to the next step.
2. Create your account
In the next window, you will need to decide whether you invest as a private investor or a company. Most of the users on Robocash users are private investors. You need to type in the number of your personal ID that you will later use to verify your identity. Also, type in your address and your preferred password.
In order to comply with the anti-money-laundering laws, Robocash is requesting some basic information such as the purpose of your investments, sources of funds and intended nature of the activity. This information doesn’t oblige you to invest a certain amount every month. It has only an informative purpose. Choose the first options and move on with the sign-up process.
3. Verify your identity
In the next step, you are requested to upload a scan or a photo of your ID card or passport to verify your identity. Note that you use the same ID that has the ID number that you have inserted in step 2. The verification usually doesn’t take more than a few minutes.
4. Confirm your email
Robocash will send you an email to verify your email address. Just click on the button in the email to complete your registration.
5. Transfer funds
As soon as you get verified, you can transfer funds to Robocash. Just click on the dashboard on Add funds and you will receive all the required bank details. Note that the minimum investment amount is €10. Don’t forget to insert your payment purpose: Add funds to customer No. 12345 account. Use your investor account number in order for Robocash to allocate your transfer.
Now you are all set and can start investing on Robocash. Read my guide on how to set up your Auto Invest function so you can invest automatically based on your investment strategy.
Robocash is a very user-friendly platform and a great alternative to Mintos. You can set up everything with a few minutes and the supply of loans is large enough to cover the investor’s demands for investments. To put it simply, you won’t experience any cash drag is this often happened when using the Mintos Auto Invest.