Connect with us

How To

How to Invest in Cryptocurrency?

Published

on

How to Invest in Cryptocurrency?

Cryptocurrency is a digital asset, digital currency or virtual currency that is used to purchase goods and services online. This medium of exchangeused cryptography to secure online transactions. However, just like in case of casino chips, you need real currency to purchase cryptocurrency.

The most popular cryptocurrency is the Bitcoin, which also happens to be the world’s first. Before going any further, you should know that bitcoins are highly speculative in nature and, are more volatile than any other investment known to mankind.

Strictly speaking in investment terms, you should never invest more than 10% of your portfolio in a highly volatile asset like the bitcoin. It calls for a complete understanding of the in and out of considering it an investment option.

Investing comes only later. Firstly, you should know the legitimate sources from where you can buy bitcoins and other cryptocurrencies.

Decide Where to Buy Bitcoins and Cryptocurrencies

There are several sources from where you can purchase bitcoins and other cryptocurrencies.

Cryptocurrency Exchanges

They charge a percentage of the total purchase price of the bitcoins. The most popular ones are:

Coinbase: It’s very popular in the United States and linking your bank account is convenient. They charge a percentage of the purchase or the sale price of investment on each transaction.

Binance:This is the largest cryptocurrency exchange in the world by volume. They charge a negligible fee and a withdrawal fee and offer some discount. Credit card payments are accepted for an additional fee.

Gemini: They trade in bitcoin and bitcoin cash, Litecoin and zcash. The transaction fee varies depending on the purchase or sale price with an additional fee.

Coinmama: This exchange charges a whopping 5.9% transaction fee plus an additional fee of 5% for credit card purchases. The minimum purchase amount is $60.

Traditional Stockbrokers

Currently, Robinhood is the only traditional mainstream investment broker available. The good thing is, it doesn’t charge fees for bitcoin trades.

Other Sources to Buy Bitcoins

Bitcoin ATMs: Used only to buy and sell bitcoins.

Peer-to-peer bitcoin owners: Buy bitcoins directly from others through tools like Bitquick, Bisq and LocalBitcoins.com.

Bitcoin futures: It’s available only for professionals who can trade on this option.

Grayscale funds: The digital currency asset manager features Greyscale Bitcoin Trust and Grayscale Ethereum Trust. They are available over the counter and, you can buy bitcoins through discount brokers.

Precautions to take before Buying and Investing Cryptocurrencies

Refrain from using a credit card

Though credit card transactions are permitted by some providers, always avoid it to prevent being charged high interest rates.

No protection from Securities Investor Protection Corporation

Cryptocurrency investments don’t enjoy the security of SIPC like traditional investments do. Exchange failures, fraud, and theft are not insured.

Use a secure and private internet connection, always

Stay away from any public internet connection while buying and selling cryptocurrencies.

Storing Your Cryptocurrency

There are two digital wallets available to store your bitcoins.

Hot Wallet

Under this, bitcoins are stored by a trustworthy exchange on the cloud. You can access your bitcoins through an app or a computer browser. However, investors prefer to store their bitcoins on a third-party hot wallet provider. This is because bitcoin hot wallets are easy targets for hackers. Hot wallet transactions are fast. The popular hot wallet providers are:

  • Coinbase
  • Electrum
  • Mycelium
  • Blockchain

Cold Wallet

The cold wallet has added security and costs up to $170 but are much safer compared to hot wallets. Transactions also take much longer than hot wallets. These include:

  • Trezor
  • Ledger Nano

Purchase Your Cryptocurrency

In this step, you buy the amount of bitcoin you wish to own. This is done after linking the bitcoin wallet you chose to the exchange of your choice.

Managing Your Cryptocurrency Investment

The standout features of cryptocurrency are its biggest attractions too. These are:

  • It’s wholly organic in nature
  • It’s not issued by any central authority
  • It’s absolutely immune to Government interference and manipulation

Buy and Hold

Buying and holding the cryptocurrency is one of the most common ways to invest. Bitcoins are generally considered to be beneficial in the long-term. They see volatility in the short-term, just like a spark in the pan.

The Price Rally Effect

Some investors look for immediate returns on their cryptocurrency investment. This is often seen during a price rally where there are favourable chances of the market soaring to an all-time high. You often see a price rally after a prolonged decrease in price.

Short Selling

During a possible bitcoin bubble, some investors take the opportunity to invest and make some extra money. They purchase the asset for a particular price and sell it to others for the same price.

In case the anticipated bubble results in a decrease in the value of the asset, they will buy it at the reduced price and sell it back to the previous lender. In this way, they make a profit on the difference amount. However, there are chances the market may go against the investor. Take calculated risks and proceed with caution in short strategy.

What Do You Need to Buy Cryptocurrencies?

To buy and invest in Bitcoins, you need to have certain requirements in place before going ahead. You will need:

A digital wallet

You need to have a program called wallet to transact with Bitcoins. There’s a public key that records and stores all transactions related to deposits and withdrawals. A private key is your password allowing you to transact and trade cryptocurrencies in the wallet.

Personal documents

You have to verify your identity to register for a digital wallet. You have to submit your personal documents including driver’s license and social security number to transact with cryptocurrency.

Bank account with a debit or credit card

You should have enough funds to exchange while making Bitcoin transactions. For this, you have to connect your bank account to your Bitcoin wallet.

Bitcoin exchange

This is the place from where you will buy your cryptocurrency. These are online marketplaces that are similar to platforms like stock exchanges. You get a direct connection to the Bitcoin marketplace through an exchange. You can exchange actual currencies for Bitcoins in these exchanges. The following are popular Bitcoin exchanges:

  • Coinbase
  • Square Cash
  • Robinhood
  • Coinbase Pro
  • Binance
  • Peer-to-Peer

Bitcoin Exchange and Bitcoin Wallet

Almost all Bitcoin exchanges provide digital wallets for investors. But, most of them don’t provide that added security. Coinbase is one exchange that provides complete security for investors. If you are looking for any other wallet provider, make sure to check if they are secured and proceed.

Advantage of Cryptocurrencies

  • Transactions are private and secure
  • Much less fee is charged
  • There’s potential for big growth
  • There is the absence of interference from traditional banks and the Government

Disadvantages of Cryptocurrency

  • Highly volatile
  • Prone to hacking
  • Limited use (Growing now)
  • No protection from SIPC

How Bitcoins Work?

Blockchain is an open-end, record-keeping technology where every transaction, considered a block, is chained to a code. Every digital information is a block and, the decentralized public database or the code is the chain.

Every block features a unique hash with the hash of the previous block. Which means, a hacker should change the code on every block, including the previous one, and it requires enormous computing knowledge. This makes it impossible for the hacker to hack or edit your information. A math function creates the hash codes. It converts all digital information into a complex string featuring letters and numbers.

Every block has the following three aspects:

  • They include transactions including date, time and the amount for the most recent transaction made
  • They store information about you with the purchase information. You will be identified with a unique digital signature and not your actual name
  • They have names that distinguish them from other blocks

A Mode for Investment

Though cryptocurrencies go up in value, they are considered mere speculations and not actual investments. This is because a cryptocurrency doesn’t generate cash flow. You derive profit only when someone pays more for the asset than you did.

It’s advisable to note that an asset or investment security needs stability to determine the economic status of an individual and a nation. Whereas, cryptocurrency is considered anything but stable and, its volatile nature creates a serious dilemma.

The Takeaway

Bitcoins are incredibly risky investments without the backing of any Government or asset. An investor needs to realize that cryptocurrency is volatile for a profound reason. It’s a very new and a young asset with not much liquidity.Its trading activity is still very low and,is an irrational market.It can turn against your plans for reasons hard to comprehend.

You have to move ahead with utmost caution and invest only that much which you can afford to lose.

How To

How You Can Make Money From Home

Published

on

How You Can Make Money From Home 1

There is no secret to making money online, the only secret is your persistence. Hidden away between the tips on starting a wine club, taking up a photography club or joining the wine revolution, there are smart tips that anyone could use to earn money online without having to quit their day job. We have written lots about the many ways people abroad to help finance their lives.

A good place to start with online jobs is with paid surveys. Surveys pay for your time and allow you to earn a bit of extra cash. The reason you will be able to earn more than what you are actually worth is that a survey company will pay to send you their questionnaire so that you can answer it. The more accurate and detailed your answers the more likely you are to get paid.

There are many survey companies available, you need to choose wisely and carefully as some surveys are paid better than others. For example, you may get paid well if you give an opinion on the health of wine or food. You may get paid just as well if you offer an opinion on which type of music you like.

Another great way to make money online is to write articles. You could write an article and then sell it to an affiliate. If someone likes what they read you will get a commission.

If you are unable to write or if you do not have the time, you could hire someone to write for you. This could be someone who has experience in web content writing or a freelance writer. You could also sell your own articles on an affiliate website such as Clickbank or Commission Junction.

It is easy to make money, it can take some time but it is definitely possible. All you need is determination and discipline to keep at it.

Many people overseas have chosen to live off the grid lifestyle. There are many benefits to living this way and one of them is being able to make money from home.

There are also a lot of opportunities to make money doing research online, there is a constant increase in the amount of knowledge that is available to the public. It is much easier to research and discover new ways of earning money. and you can get started in a short space of time. So, I encourage you to give it a go.

One of the easiest ways to make money online is by becoming a blogger. It really is very easy to become a blogger. Just type ‘blogging’ into Google and then fill in all the details. It is easy and it can even start to look lucrative.

Blogging is a good way to earn money if you have an understanding of the basics. You need to write about something that interests you. This could be about your family life, your interests or even a hobby that you like.

Once you have set up a good website for your blog, the next step is to get visitors to it. One way of doing this is by putting up advertisements. This is just the same as writing articles for other websites.

Some people choose to make money by selling products. You can do this in two ways, through a site such as eBay or through affiliate marketing. You could sell e-books or products related to the niche you are blogging about. The great thing about eBay is that there is always a steady flow of visitors.

These two ways are only two of the many ways to make money online. I recommend you look at all the options and find the ones that work best for you. Once you have found them, you will never stop learning about ways to make money online.

Continue Reading

How To

How To Avoid the Risks of Poor Credit

Published

on

How To Avoid the Risks of Poor Credit 2

Security Finance is an unsecured debt collecting agency that, via a network of affiliated companies, provides “secure” personal loans to consumers who may otherwise struggle to meet their existing debts. Their loans are generally short-term, and their conditions often vary dramatically from those of traditional short term personal loans. The services they provide can be invaluable to both the consumer and the lender.

Security finance offers a wide variety of loans. These include: home equity loans, revolving credit lines, commercial and business loans, car and motorcycle loans, and other types of unsecured loans. These loans can be used for almost any purpose, and they will be more beneficial to the consumer than those offered by banks and other unsecured lenders.

Secured personal loans offer an excellent alternative to the high rate of interest paid by unsecured loans. The interest rates are often less, the terms are easier to meet, and they are often better suited to meeting a consumer’s unique financial situation. The collateral provided with the loan usually allows security that the loan will be repaid in a reasonable amount of time, with little or no difficulty.

Secured loans require the debtor to place collateral, such as his or her car, home, or other valuable asset, in order to receive the money they have been borrowing, and are therefore considered by the debt collector as an attempt to recover something that has been taken. Debt collectors will not hesitate to call a borrower who does not follow the terms of his or her loan agreement and in some cases will go as far as harassing them, calling and/or sending letters in an attempt to collect on a debt.

When applying for a secured personal loan, many borrowers are worried that the debt will affect their credit score. The fact is that there is virtually no correlation between the amount of credit available and the credit score. However, secured loans will typically have a much lower credit score than unsecured loans. This is because the borrower is putting his or her assets in a bank account where they are likely to be liquidated for payment.

It is important to remember that the loan does not negatively affect the credit history. The only time it can result in damage to a credit report is if it is reported incorrectly. If a borrower were to try to pay off a loan on a credit card that was reported as being “lost”, he or she would then be making the error a second time.

Security finance offers consumers an exceptional opportunity for personal development through the use of online applications, and the ability to make several payments on the same day to avoid late fees and penalties. This service also makes it easy to avoid late fees when paying loans off at the end of the month.

The ability to apply for secured loans online provides a tremendous opportunity for the consumer to improve his or her credit score. Security loans can provide a large number of benefits to people who are in financial difficulty, including: low cost, low rate loans, low credit, and the flexibility of being able to make multiple payments.

If you are considering applying for a secured loan but have never applied online, you should take advantage of the opportunity to make several purchases in a short period of time, rather than waiting until the last minute to apply for an unsecured loan. By using the secured finance website, you can save yourself the time and stress associated with filling out an application and can ensure that your credit report shows your financial progress accurately.

Once you have applied for a secured loan, you should also make sure that you understand the terms and conditions of your loan, including any interest rate that may apply to the loan. Be sure that you understand the term of the loan in full and fully. Do not hesitate to ask any questions that may arise. You should always contact the company directly when you feel that you are not fully clear on a matter regarding a loan.

Secured finance loans are a great way to increase your credit score while avoiding the hassle and expense of filling out and paying off an application by mail. Because the borrower is making a direct deposit of money into an account, the credit report that shows up on credit reports is often inaccurate.

Continue Reading

How To

How To Find Free Rates On Money Exchange

Published

on

How To Find Free Rates On Money Exchange 3

Money is a common item that can be bought, traded, exchanged or sold. This usually includes the value of the currency as well as gold and silver. Money is commonly accepted as payment of certain obligations, including taxes, and payment of certain goods and services in a specific country or socioeconomic context.

There are three money systems in the world. The first is the use of coins or other units of currency, which are available in fixed denominations. The second is barter. It involves exchanging items of utility with other items of utility. In the third system, known as fiat money, there is no central authority that decides what the money supply is, and the monetary base is determined by political will.

The most common monetary system is the gold standard, which was used as far back as ancient Greece and Rome. In this system, coins were designed to be redeemable for gold bars. Gold, however, had a relatively high price at the time, and most individuals had no access to it. Barter is much more popular today, and most people live their lives in barter, trading items with one another.

In some nations, the second money system is called paper money. Most countries have national currencies, and each government issues money in the name of their country. This type of money is not backed by anything of physical value. It is not held by the government or bank. It is simply made from paper. Since most countries use this kind of money, it is known as the official “money” of the country.

Electronic cash was introduced in 1970. This system is very similar to barter. Instead of bartering for items, electronic money is created electronically. It is created electronically to represent actual objects that can be used as payment, and then is transferred to the buyer. The process is very similar to barter, except that there are no actual goods to be bartered for. It is considered a virtual currency.

There are many different types of money, and each one has its own characteristics. Money in the U.S. has a backing and is created by the federal reserve. Money in England is backed by the pound sterling, while the European Central Bank in Germany uses the euro. has a currency known as the Deutschmark.

Each form of money has its own advantages and disadvantages. People who use different forms of money have their own reasons for doing so. Many people choose to exchange one form of money for the other, to get the best rate on an item they need or want. Some choose the same form of money for more than one transaction.

Money exchange services offer different services to help people get the best rates on money exchange. They include a variety of methods that can help someone get a better rate. Rates vary depending on the length of time you wish to get money, the size of your order, and the current value of the item you are exchanging. Some of these services can also provide you with a credit card or other form of online payment to transfer your money through.

These services are available almost everywhere. You may call around to various companies for rates, or you can check out the Internet. There are several places on the Web that will give you free quotes, and compare rates among companies. It is important that you understand the rules and regulations that govern the rates you receive from these companies before you agree to any deal.

There are several different online providers. You will often find them listed under the names of a variety of different names, such as Money Exchange, Moneygram and eCash. If you are interested in getting quotes from multiple companies, make sure to ask around for quotes from at least three. so that you have a clear picture of how much the rates will vary and from which company to go with.

Many places will offer you a variety of free quotes if you fill out a form. Others will charge a fee for this service. To get an estimate, you should send out several free quotes. and then make sure to follow up with the companies.

To be able to get the best rates, it is very important that you get as many quotes as possible from different companies on the Internet. There are many sites that you can go to. Some will charge a fee to get these quotes.

Continue Reading
Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.

Call For Entries

Global Banking and Finance Review Awards Nominations 2020
2020 Global Banking & Finance Awards now open. Click Here

Latest Articles

Reconnecting the retail brain: learning from the octopus 4 Reconnecting the retail brain: learning from the octopus 5
Business21 hours ago

Reconnecting the retail brain: learning from the octopus

By John Malpass, Retail Consultancy Practice Lead at Teradata An octopus has nine brains: one for each tentacle and plus one at...

How robotic technology will disrupt the manufacturing industry 6 How robotic technology will disrupt the manufacturing industry 7
Technology21 hours ago

How robotic technology will disrupt the manufacturing industry

By Marga Hoek, author of The Trillion Dollar Shift Robotics technology has the potential to disrupt industries across all sectors...

RPA, the software robots that finance and banking professionals need to hear about. 8 RPA, the software robots that finance and banking professionals need to hear about. 9
Technology21 hours ago

RPA, the software robots that finance and banking professionals need to hear about.

By Rory Gray, Vice President of Sales at leading software automation firm, UiPath, explains what role Robotic Process Automation (RPA)...

The rise of nomadic work: how to turn your remote team into a creative force 10 The rise of nomadic work: how to turn your remote team into a creative force 11
Business21 hours ago

The rise of nomadic work: how to turn your remote team into a creative force

By Paige Erickson, EMEA MD, Workfront During the first stage of the lockdown in the spring, almost half of Brits...

The value of digital identity in payments 12 The value of digital identity in payments 13
Finance22 hours ago

The value of digital identity in payments

By Vince Graziani, CEO, IDEX Biometrics ASA In ever more challenging times, the payments industry needs to maintain trust by...

Consumers in the COVID era can learn to embrace strong customer authentication 14 Consumers in the COVID era can learn to embrace strong customer authentication 15
Business22 hours ago

Consumers in the COVID era can learn to embrace strong customer authentication

By Ed Whitehead, Signifyd managing director, EMEA The changes that COVID-19 has caused in rapid succession make it hard to...

How NatWest used social media to better target its communications 16 How NatWest used social media to better target its communications 17
Business23 hours ago

How NatWest used social media to better target its communications

By DuBose Cole, Head of Strategy, VaynerMedia London For banks, it is imperative to reach their existing – and potential...

It’s time to press ‘reset’ on travel and expense processes 18 It’s time to press ‘reset’ on travel and expense processes 19
Finance23 hours ago

It’s time to press ‘reset’ on travel and expense processes

By Rudy Daniello, EVP of Corporations, Amadeus Travel & Expenses(T&E) is a large spend category for companies across the globe....

Covid-19 and the rise of remote payment fraud: how do we catch a digital thief? 20 Covid-19 and the rise of remote payment fraud: how do we catch a digital thief? 21
Finance23 hours ago

Covid-19 and the rise of remote payment fraud: how do we catch a digital thief?

By Evgenia Loginova, co-founder and co-CEO of Radar Payments Covid -19 is finding different ways to hurt our finances –...

Effective financial planning will secure businesses a certain future 22 Effective financial planning will secure businesses a certain future 23
Business23 hours ago

Effective financial planning will secure businesses a certain future

By Simon Bittlestone, CEO of financial analytics company Metapraxis 2020 has been an unpredictable year, bringing further volatility to already...

Newsletters with Secrets & Analysis. Subscribe Now