$5 Referral Bonus for Referrer & Referee @ Blossom App

110

Go to Deal

L123nkj on 16/10/2021 - 21:23 blossomapp.com (190 clicks)
Last edited 20/10/2021 - 11:29 by 2 other users

The fund uses your money to invest in fixed-income assets like government bonds, corporate bonds.
3% p.a. targeted return but not guaranteed. However, according to their FAQ, "they may at their discretion use interim excess returns to help pay the Fund when potential interim returns are less than 3% p.a. in the future". The return is paid into your account on a daily basis, you can track the amount in the history tab.

No minimum investment. Minimum withdrawal $0.01. No withdrawal fees. 3% is your net return after whatever management fees they have.

Once you fund your account, there'll be an email asking what do you want to do with the $5 bonus:

• Keep the $5 - we'll transfer it to your Blossom account
• Plant the $5 - we'll use it to plant 5 more trees for you
• Donate the $5 - we'll donate it to the Garvan Institute for Pancreatic Cancer Research

$5 will be deposited into your account within 2 weeks (mine is 1 week).

Additionally, after signed up & funded my account, I received an email with a 'thank you' certificate attachment from them saying they've planted a tree in my name in an Australian bushfire-affected region.

I've been testing it out for >2 weeks, so here's my return if you're curious:
My balance = 28/9 initial deposit $30. 5/10 deposited $70. 6/10 deposited $5 bonus. As of today, total deposit $105.
Total returns from 28/9 ~ 16/10 = $0.11.

Mod: Use referral system below

Related Stores

Blossom

• 

  Travelbug on 16/10/2021 - 21:26

  -5

  What's the name of the fund- PONZI MIXED SECURITIES?

  • 

    No on 16/10/2021 - 21:39

    +2

    No

• 

  HolyCr4p on 16/10/2021 - 21:47

  -1

  https://images.app.goo.gl/nwCZnE6b8FVyVmw77

• 

  Chookt on 16/10/2021 - 21:54

  1% management fee so really only 2% return provided they can meet their target

  • 

    BargainGeezer on 16/10/2021 - 22:10

    PDS states the investment objective is 3% net of fees and expenses.

  • 

    123nkj on 16/10/2021 - 22:15

    "At Blossom we put the customer first. The first 3% p.a. available is paid to Blossom customers. Then our total of 1% in external fees get paid out in the following waterfall-like structure:
    The first 0.5% is paid to the liquidity manager - Fortlake Asset Management Limited (unless and to the extent any of that is waived by the liquidity manager).
    The next 0.5% is paid to the Responsible Entity to cover expenses (there is no responsible entity fee)."

    Wouldn't that mean whatever the return is (in case of over 3%), they'll pass 3% to us and take the rest?

    • 

      123nkj on 16/10/2021 - 22:26

      I've edited my post for clarity.

    • 

      Chookt on 16/10/2021 - 23:01

      +2

      Yep, I read a bit more in it. “The fund will target a return of 3 per cent a year. Investors will pay a management fee of 1 per cent, which is triggered only when the product meets its intended return… Any return above 4 per cent will be paid to a “threshold manager” – effectively a capital buffer held by Blossom to cover any shortfall if the fund underperforms, ensuring investors receive their targeted 3 per cent return.” Source: https://www.afr.com/companies/financial-services/the-app-mak…

• 

  Alonzo on 16/10/2021 - 22:33

  +1

  Wowsers. Sounds like a great way to earn 5 bucks. Easy street beckons.

• 

  szy2k on 16/10/2021 - 22:55

  +1

  Thanks for sharing.

• 

  seanbaussie on 16/10/2021 - 23:41

  +1

  Thanks, giving it a go. Currently expecting a grand 1.1% from anywhere else, so anything more is luxury.

  • 

    123nkj on 17/10/2021 - 00:54

    Ikr. For me I need somewhere to park my few dollars. The interests from my bank saving accounts are almost meaningless, 0.01% base + 0.3X% variable

  • 

    devilbabies on 17/10/2021 - 00:57

    +1

    celsius or crypto.com are paying 6%-10% on aussie dollar stablecoins (TrueAUD). they have good signup offers too (search ozbargain). they might be worth a look as another alternative.

    signed up for this too. only couple of minutes to signup for the free $5. quite a nice website and quick process.

    • 

      firestint on 17/10/2021 - 09:39

      +2

      Was going to suggest the same. I have both Celsius and BlockFi. Both work great but I will add Blossom to the list and try it out.

    • 

      123nkj on 21/10/2021 - 00:19

      Thanks heaps. I'll definitely have a look at it