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"Personal Finance Habits That Will Make You Rich"

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Finance Management

Business concern need finance to meet their requirements...

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The Art of Startup Finance

Financial literacy is essential for every entrepreneur....

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How To Choose The Best Business Financing Strategy

There are numerous financial tools available to help entrepreneurs fund and grow their businesses.

Some Famous Quotes About Finance

Life is too wonderful to wake up in the morning with happiness. Love the people who treat you right and share. And believe that everything happens for a reason and there always new excitement... if you get a change - take it; if it changes your life - let it. Every sweat of our deeds has results... I would say that it would worth it.

Life Happens saved to - Financial Inspiration

Working is a blessing. Let life strengthen you. Our path to success, hold your head up and keep going. This is an important piece to remember our sweat would be the product. Truth be told sometimes the happiest lessons to learn are the ones your needs most. Your past was your journey and you learned from it.

Heart Felt Quotes Lover of Quotes - Heart Felt

Plus Token Scammers Still in Control of Huge Sum of Stolen Cryptocurrency

Cryptocurrencies

During the later part of June, 2019, complaints from Plus Token e-wallet users in China, South Korea and Japan about their inability to withdraw from their account, had prompted Chinese law enforcement authorities to act swiftly. Their initial investigations led to the arrest of six (6) Chinese nationals working as core team of the Plus Token mobile wallet operation.

Dovey Wan Blows the Whistle on Plus Token’s Ponzi-Like Scheme to Alert the Cryptocurrency Community

News of the arrest did not receive wide coverage, which apparently was still under investigations. However, in early July, Dovey Wan, co-founder of cryptocurrency company Primitive Ventures noticed that the Plus Token site was moving out digital money in small amounts.

The movements made use of e-wallets not registered with the company when traded with crypto exchangers Bittrex, Binance and Huobi.

Although Ms. Wan tweeted about a possible Ponzi Scheme happening at the Plus Token site, cryptocurrency exchangers were unable to identify which e-wallet to block, since there were no digital currency transactions directly related to Plus Token.

Apparently, the Plus Token scammers have taken advantage of the sophisticated blockchain system of recording transactions. In using encryptions containing public and private key codes instead of real information about traders, the blockchain system makes it difficult to immediately trace and establish the identity of persons involved in cryptocurrency transactions.

As Dovey Wan had found out and later tweeted, unidentified Plus Token operators still at large were able to transfer around 70K Bitcoin(BTC) and 800K Ethereum (ETH) early in July. Ms. Wan summed up the entire amount that Plus Token had stolen from its investors, and arrived at an overwhelming estimate of about $3.2 billion-worth of cryptocurrency. .

The major players behind the Plus Token Ponzi-scheme still has control over the stolen cryptocurrency. Since July, they have have been transferring the digital money into different crypto wallets from which they can withdraw and convert the cryptocurrency into real money.

Crypto-Analyst Firm Reports that Plus Token Scammers Used Online Mixing Services to Pre-Launder the Stolen Cryptocurrencies

A related report coming from Token Analyst, a London-based crypto-analytic firm, said that the Plus Token scammers have been using online mixing services as a means of masking the origins of their fraudulent blockchain transactions even before the scam was discovered. Doing so enabled the fraudsters to trade the stolen digital currency at legitimate exchangers since the cryptocurrency online mixers were able to mix the money in different e-wallet accounts owned by Plus Token.

That being the case, the stolen money have been laundered and made to look like legitimate funds used for conventional transactions via the blockchain platform.

Should You Make Investments On Bitcoins?

Cryptocurrencies

You have probably been seeing, reading and hearing about Bitcoin. But do you have the slightest idea what it exactly is? Basically, Bitcoin is a form of digital currency. And there are many of them. Digital Currency is also referred to as a cryptocurrency.

This term was first used by an anonymous individual during the financial crisis back in 2008.

Much like Traditional Currencies but it’s all Digital

Digital currency account is much like a checking account where it can be viewed online. Simply put, it is a digital currency you can view but you cannot touch. In regards to Bitcoin, it has no physical representation since all money exists in digital form.

No one’s regulating this currency and in the same manner, the network isn’t managed by any known entities while the tokens are being exchanged between people via sophisticated software system. In other words, the entire system is decentralized and it’s operated by a computer network.

Know what You can and can’t Do

 

It is vital to be aware of the fact that you cannot use these tokens for paying the usual stuff you buy in the market. Truth is, Bitcoin and other cryptocurrencies can only be used to stores online or sell it to other people. On the other hand, there is an increasing number of companies that are starting to accept Bitcoin as well as other digital currencies known to man. Soon, even the best credit card in Singapore or in any part of the world could be using crypto technology.

To give you an example, Overstock and Expedia are accepting it from their customers. Among the major features of this currency is that the entire transaction is untraceable and private. That is one of the numerous reasons why most prefer this type of money than others.

Is it Smart to Invest in Bitcoins or other Cryptocurrencies?

With the immense popularity and usage of Bitcoin, you may be wondering whether to start investing your money into it or not. Well just like when investing in stocks of other companies, this is something that will require proper judgment. Otherwise, you may just regret your decision. So before pushing through with your decision, it is essential to learn about the risks that are associated with the system.

Among the risks that you should not take lightly is volatility. This means that the value of Bitcoin can fluctuate within a day. Truth is, the rise and fall in value could be in the 30 percent region. So don’t make any hasty decisions. Think of your move first.

Cryptocurrency Backed Loans – What are they?

Finance

For the longest time, many individuals have been taking out loans the traditional way to augment finances through banking institutions and other lending companies. However, with the advancements in fintech, consumer loans whether secured or unsecured, such as https://www.forbrukslån.com/, are now available and accessible from numerous lenders, even if you have bad credit.

Today, one form of loan that is increasing in popularity are loans that are backed by digital currencies. Known as Crypto-backed loans, this form of loans epitomizes an excellent option or alternative to the usual loans taken out traditionally, mainly because of the technology on blockchain utilized to secure the loans wherein it amplifies transparency as well as trust.

Crypto-backed Loans – What are they?

Crypto-backed loans, as indicated in the term itself, are loans guaranteed or secured by assets in the form of cryptocurrency or digital currency. Although there is no tedious documentation, verification as well as credit checks, to be able to obtain a loan, you basically must have a cryptocurrency to function as a collateral.

Lenders provide crypto-backed loans through platforms with decentralized blockchain, wherein smart contracts are generated as soon as each party settle on a reciprocated agreement. Since there are no hidden charges or fees, the process in getting crypto-backed loans is straightforward as well as transparent. Just like any collateral, once a borrower has fully paid off their loan, they get back their cryptocurrency assets.

Because of the volatility of cryptocurrency, there is a fluctuation of crypto assets as well. Therefore, to protect themselves, lenders include margin calls wherein borrowers have to raise their collateral in the event that its value suddenly or severely drops.

Why Consider Crypto-backed Loans?

Any holders of crypto have a long-standing view of their assets or investments. Though they intend to hold their assets, at times certain situations and conditions push investors to sell their crypto assets for fiat money. However, instead of selling them, investors could utilize their crypto as collateral or guarantee to a loan, which allows them to retain ownership of their assets as they get access to the fiat money that they need to finance their ventures.

Although not fully embraced yet, many would agree that crypto-backed loans are better compared to traditional loans. This is so since processing is quick, wherein there is no verification or credit checks included and the loan you take out is nearly immediately issued. Moreover, crypto-backed loans are safe since the crypto assets that are put up as collateral are securely kept in cold wallets up until the borrowers completely pay off the loans.

Where do borrowers use crypto-backed loans?

Borrowers take out crypto-backed loans for several different reasons. Here are a few:

  • Buying a home or for home improvements or renovations
  • Paying off student loans or credit card debts
  • Financing a startup or other initiatives for business
  • Paying off travel or vacation expenses

 

Cryptocurrency 101

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Cryptocurrency is quite popular and taking the world by storm nowadays. Those who believe that it is just a fad are blown away by how the market keeps on growing. In essence, cryptocurrency is a form of digital or virtual currency. This currency only exists over the internet and using computer networks, blockchain technology and cryptography in monitoring its value and at the same time, ownership.

In 2009, a man named Satoshi Nakamoto has launched Bitcoin which was the very first blockchain-based virtual currency and it has remained as to be the most valuable and popular ever since. However as time goes by, there are now more competition to Bitcoin. In fact, trading cryptocurrency has attracted millions of people worldwide. Some are even applying to Zebra loans from New Zealand to fund this new opportunity.

Familiarize Yourself into Crypto First

However, before you jump into the bandwagon, it is important that you know what you are getting yourself into.

Underscoring the importance of cryptocurrency, there were two bills that were passed to back digital currency in the US. These bills are entitled Virtual Currency Consumer Protection Act of 2019 as well as U.S. Virtual Currency Market and Regulatory Competitiveness Act of 2019. The legislation proposed from these acts are made to provide regulations to cryptocurrencies and protecting consumers towards bad aspects of the virtual currency. With the interests and attention given by the federal government, it only shows that there is a bright future ahead for crypto.

Are You a Risk-Taker?

For those investors who are not confident when it comes to volatility as well as risks, they steer clear from cryptocurrency investment. The same thing goes for those who cannot afford to lose their investment. One may have chosen the wrong asset and painfully watch their investment to disappear.

But according to Russell Korus, the cofounder and at the same time, CEO of EZ Exchange in Toronto, Canada, he said that those who are interested to dive in crypto must concentrate on blue chip cryptocurrency which is none other than Bitcoin. After all, this is the largest and oldest form of cryptocurrency. Besides, it has shown resilience to great number of things from:

  • Community infighting
  • Attempted intervention of the government and;
  • Technological threats

Crypto might help in Business Transactions

Money transfers are currently requiring third party portal for it to push through. It can be credit card, a bank, PayPal or any other intermediary. The proponents of crypto expect the industry to facilitate direct transfer between parties and thus, cuts out the presence of third party.

Cryptocurrency – A Path Towards Financial Freedom

Finance

Why do many buy, sell, or exchange cryptocurrencies like bitcoins? When the bitcoin’s worth touched $20,000 on Dec. 17, 2017, a lot of individuals, even those unfamiliar with bitcoins, started asking the question “when to buy bitcoin” in the hopes of hitting it big.

One does not need to have a degree in accounting or economics to realize that individuals who made investments in bitcoin some years ago are now reaping the fruits of their investments.

Cryptocurrencies or digital currencies were designed and developed to offer individuals financial freedom. Although it may take time, cryptocurrencies, if adopted fully, could altogether eliminate banks or intermediaries. For the time being, digital currencies are being utilized worldwide for numerous purposes, whether utilized as an alternative to weakening fiat currencies, or as a replacement to financial institutions like banks and credit companies, cryptocurrencies are generating a type of financial freedom that, for the longest time, individuals across the globe badly need.

Financial institutions like banks charge fees that are utterly high, dictate which part of the globe where funds can and can’t be transferred or sent, as well as limit the opportunities of consumers to attain financial freedom. Moreover, there are financial institutions that have caused numerous individuals to lose their livelihoods, jobs, and homes.

Achieving Financial Freedom

The outlook of the general public states that during phases of instability, typical systems for banking every so often miss the mark to address the people’s needs. But, during such phase, the framework of blockchain and cryptocurrency could still thrive. Not only could crypto holders rely on their assets for daily transactions or payments, but could as well utilize them to yield more wealth. Here are a few approaches wherein you could attain financial freedom with cryptocurrencies:

Staking

Rather than mining, which could be painstaking, expensive since a particular hardware is required, as well as intermittently rewarding, several cryptocurrencies have taken on the idea of staking for transactions to be verified. As a reward or incentive for the securing of the system, the method permits crypto holders to generate and earn interest on their token. Typically, the method entails locking up in a live wallet a specified quantity of tokens. The more tokens you stake, the greater the incentive or reward.

Purchasing and Holding

Since the release of bitcoin in 2009, the value of numerous cryptocurrencies has quickly escalated. Although the short-term concern remains to be about volatility, the value of digital currencies has increased for the demands of the market to be met, causing cryptocurrencies like bitcoin to have billions in capitalizations in the market. In 2011, bitcoin was exchanging between 1 and 2 US dollars. Currently, its value is on the 10,000 US dollar mark.

For individuals new to cryptocurrnecy, a workable strategy is to have a little amount of these digital currencies as well as holding it for some months. On condition that you have a device to connect and access the internet, you could immediately install, create, and access a wallet.

Day Trading

Digital currencies are traded on exchanges, similar to how those found in worldwide equity markets function. If you are experienced in technical analysis and are positive that your capabilities match the market on cryptocurrencies, this method could be greatly profitable. But, day trading could be a risky venture since every so often some tokens could go through short-term phases of high volatility.

Various Helpful Applications of Cryptocurrency in Modern Life!

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To a great number of people, cryptocurrencies are seen to be a risky investment. This is true especially among insiders in Silicon Valley and millennials. But what they are actually missing is, in the midst of hype and talks about these digital currencies, it was programmed to “do something”. Thus, it has wide range of use.

Because Sending Money is now more Simplified!

A very popular advantage associated to cryptocurrencies such as bitcoin is it capability to send and to receive payments at high speed and low cost. Now, if this money would go through traditional mediums, the fees will be significantly higher. Not to mention, there are going to be lots of processes it will go through before the receiver actually receives the money.

Just think of the inconvenience that it has. What more if that money is needed urgently?

For sure, you aren’t thinking that your assets and your bank account will be frozen anytime soon. But sorry to break this to you, this is a real-life situation and it has happened already to lots of people. All it needs is for a person be accused of financial misconduct. After that, it’s goodbye with your money and assets. When this happens, people have nowhere else to go but to accept the fact that they have nothing and fight for what they believe is right.

Use Crypto as a Form of Investment

With the onset of digital currencies fundraising, it helped anyone who has a connection to the internet to invest in early-stage startup techs. At the same time, it provides new startups with the funds and capital they need to continue their business. Basically, it is a win-win situation for everyone.

If the investment has pushed through, founders will be able to rake in profits, likewise with the investors.

Now, if you want to buy cryptocurrencies and use it for investment, or you are a budding entrepreneur who lacks of funds, you can take advantage of tradeline sales web site to acquire additional funding needed.

It’s Leveling the Field

Back then, getting access to these types of deals will only be available to seasoned and experienced capitalists. Thanks to the introduction of cryptocurrency, it has carved way in creating new opportunities to a wider spectrum of investors. Having said that, small entities can now compete with bigger and more established companies. Thus, it gives everyone an equal chance to earn.

How Cryptocurrencies Work : Understanding the Blockchain Technology

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Cryptocurrencies as medium of payments, investments or borrowings can only transpire by way of blockchain technology. It is important therefore to have a thorough understanding how one becomes a cryptocurrency owner in order to take part in transactions using digital currency as medium.

First off, bitcoin is only one of numerous cryptocurrencies used to transact business outside of the conventional financial institutions. Digital currencies other than bitcoin are collectively called altcoins, which is short for alternative coins. Some examples of popular altcoins are Litecoins, Ethereum, Ripple, ZCash, and Cardano; there are several more available as an alternative to bitcoin.

Secondly, cryptocurrency transactions require the use of a blockchain platform or application in order to connect to other cryptocurrency users, to third party digital currency brokers, to traders or digital currency-wallet providers.

Thirdly, there are two ways by which an individual can acquire a particular cryptocurrency. One is by buying a preferred type of digital money from a broker or from an e-wallet provider using actual cash. The other method is by earning a unit of cryptocurrency for solving every set of related cryptocurrency transactions recorded in a blockchain open ledger. Solving and linking encryptions used in the blockchain ledger is a method of confirming the validity of a transaction that made use of bitcoin or a type of altcoin as payment or exchange mode.

How Does the Blockchain Technology Record and Validate Bitcoin Transactions?

The reason why this cryptocurrency technology is called a block chain is because several digital currency transactions occurring via a blockchain platform will be linked. The purpose of which is to tell a story of how one bitcoin or altcoin user came to own his or her cryptocurrency, and of how he made use of that particular virtual money.

A block refers to the time-stamped cryptogram code used in recording each related transaction in the blockchain ledger. Every block contains the cryptogram code containing the public key generated by the blockchain platform and the private key supplied by the cryptocurrency sender or payer.

Difference Between a Blockchain Public Key and Private Key

A public key is an encryption that identifies the kind of transaction that the blockchain will record. Let us say BitUser A buys $50 worth of bitcoin from BitTrader B. The public key generated by the blockchain platform will refer to this transaction. In order to complete a block, BitTrader B as sender must provide the private key to validate his authorization for issuing the bitcoin.

A private key therefore validates a cryptocurrency user’s ownership of the digital money being transferred to another. An owner receives a private key every time he receives digital currency as part of a chain of transactions. If the private key is invalid or missing, the transaction will not go through since it remains unconfirmed or unvalidated.

In our example, bitcoin recipient BitUser A received a private key, which serves as his authority to use or transfer the digital money to another recipient. In the same way, the new recipient will also receive a private key that will allow him to transact his own virtual currency deal. Miners will then solve and link all blocks of cryptogram codes connected to the bitcoin purchased by BitUser A. Doing so provides full authentication that all virtual currency used in the series of transactions came from legitimate owners.

Understanding the Coin Loan in Layman’s Term

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To make taking a loan easy, there are some things you need to know. First, if you are planning to start a business or invest on something you must determine the right type of loan for you by vertaile lainoja. Not only they offer loans that you can get in just few clicks, they can also do the task of comparing different types of loans and identifying the most suitable type for you. Moreover, the amount that you are capable to pay off can also be easily computed using their loan calculator.

In the present times, there is another way of borrowing money, and that is through bitcoin loan. Basically, it works like a regular loan where you will borrow money and pay it back with interest. There is an easy way to get  money through bitcoin loan and that is through the peer to peer lending platform.

To help you get through, listed below are the three important things to know before taking a loan. 

  • You must have some cryptoasset for securing a loan (BTC, LTC or ETH). You also need to be informed that you’ll be able to lend fiat money equivalent to 60% of your collateral market value. It means that depositing crypto worth $1000, you’ll get $600 loan at least (60% of $1000).
  • Youu can get your loan in EUR, USD, TUSDUSDC, GUSD, GBP and RUB.
  • To withdraw your money, choose any of the following payment methods: SEPA, SWIFTAdvCash.

You can get a loan by following the steps below: 

  1. Open an account by registering at your trusted site
  2. Your identification must be verified
  3. Deposit crypto as collateral
  4. Once you identify your lender, ask him/her for an appropriate application.
  5. Withdraw funds from the platform.

Since there are a lot of lending platforms out their and tons of lending site scams, it is important to research first on the platform and make necessary actions to confirm that it is legit. Here are some best Bitcoin lending sites

  1. BlockFi– this platform was developed in 2017 and has quickly risen to prominence in the Bitcoin loan industry because of its quality service.
  2. CoinLoan– this offers a peer-to-peer lending platform that enables long-term holders to quickly receive a high-LTV loan while providing those with excess fiat a healthy return.
  3. Nexo- this is younger compared to the previous platforms. However, it has already earned quite the reputation in its short time, owing to its great services and operating processes.

Tax On Cryptocurrencies

Finance

The season of Tax is the time when taxpayers prepare their financial accounts and reports of the year prior. It commences in January and concludes in April. For many taxpayers, preparing tax could be a bit difficult especially if they are hopeful for a better return on their tax, which is why they employ the help of a Tucson tax preparer or any other tax prepare in their locale. In the US, the annual tax returns of individuals must be filed by the 15th of April subsequent the reported earnings.

Taxes are obligatory fees levied or imposed on people and businesses or corporations and is implemented by a local, regional or national government so as to finance public services and programs and government undertakings. In economics, these taxes befall whoever pays the tax, such as businesses and the consumers of the products and goods.

Tax on Cryptocurrencies

By now, we all know that cryptocurrencies are digital currencies or virtual money that is built with cryptographic codes that provide secure transactions. Cryptocurrencies are difficult to fake compared to the traditional currency that we have. Because of its rising popularity and use, the law considers cryptocurrencies as property, which are subjected to the regulations of capital gains and losses similar to reals estate, bonds, stocks, as well as other types of property. Hence, tax should be levied.

In the US, paying taxes on cryptocurrecines like Bitcoin has become a priority for many individuals after the Internal Revenue Service or IRS publicized on the 2nd of July 2018 that one of their primary efforts for the year is the taxation of cryptocurrencies or virtual currencies.

With cryptocurrencies, the challenge related to taxes is the data or records composing the all transactions such as the mining income, buys and sells, trades and transfers, as well as other activities involving cryptocurrencies. These data or records are most probably distributed across numerous diverse platforms and exchanges, therefore making the calculation of tax and the process of reporting very difficult.

Making Crypto Tax Reporting Easier

Always keep a record of all your cryptocurrency exchange, where you sold or bought them.

Keep records or accounts of any cryptocurrencies that you have received or accepted as an income

Learn and train yourself to calculate or compute your bitcoin gains and losses as well as on your investments on cryptocurrencies

Just like taxpayers who seek help from tax preparers, get the advice or help of an expert on crypto tax

Report your losses on cryptocurrencies to save on your US tax bill

Should You Apply for Business Financing?

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As for a small business owner who is considering financing offers, the duration and amount of financing are two factors to be taken into account. To ensure that there’s better cash flow as well as turnaround on credit line, it’s preferable to opt for short term financing. What this mean is, the amount you pay back is already fixed for the said term.

Furthermore, this puts away your business from any risks if mandated to payback a portion of your profits.

Smart Loan Decisions

If you wish to minimize payables, then seeking for long term loans will be wise. However, this is going to compromise the funds you could withdraw and used as working capital since it takes longer to pay back the loan. This is why the “no commitment” and “free early payoff” offered in short term loans are more attractive among SMEs.

Moving over to your credibility with bank loans, you’d do fine given that you are paying on or before due date. On short term loans, it is likely to gain points by simply

  • Paying earlier than the expected due date
  • Paying more than the payment required or
  • Paying on time

These three factors can help big time especially when you seek additional funding before completing your first loan.

Think of short term loan as credit card.

You’ll be given a 10,000 dollars credit line and paying most of it for few months entitles you for an increase.

So let’s say for example that you want to use that money to trade on crypto signal, and you were that good allowing you to get more than half of your ROI in just a short span of time, you can use your profits to pay for your loan and get an increase. This increase will serve as backup whenever you need to add more to your account.

Should Always Be an Open Communication

Another thing to check is the responsiveness of the financing organization. With financing firms offer short term, you’ll get an actual person as point of contact than established banks and larger companies to which most probably, redirect you to their general customer service department.

Business Finance Strategy : Establishing a Working Capital Fund

Finance

Develop an understanding of the importance of a financial strategy when venturing into a business. Bear in mind that going into business is not just about making profit from an innovative product or idea.

Making profit is merely the goal, while the money infused as capital to build the business is the foundation. Money is invested to acquire assets to use in selling an innovation whether as a product or as a form of service. It is therefore pertinent to have a financial strategy on how to make vested money and profit yields work toward building a sound financial condition for the business.

It is not wise to let a business run without having any business financial plan integrated as part of management processes. Simply going where the business flow takes you is a flimsy business finance strategy. Mainly because this is a hit-and-miss stance which could find your business drifting while waiting for a lucky break, or eventually veer away from what you originally perceived as your business mission.

Example of a Business Finance Strategy

We have established beforehand that the main goal of operating a business and of investing seed money into a business is to generate profit. If you are a startup venturer, it is best to keep your profit making goals in proportion to your seed capital. Avoid aiming for big profits by entering into get-rich-quick methods or by way of unfair trading practices. Such methods may work at first, but will eventually backfire on you.

A business finance strategy is incorporated as part of a business plan. In a detailed manner, the strategy specifies how cash that is available on hand will be allocated and used in running the business.

Establishment of a Working Capital Fund

An example of a business finance strategy is one that establishes a Working Capital fund. The fund must be placed in a deposit account in order to segregate money purely for operational purposes. Other liquid capital funds must be allotted for investing on a major additional asset, or for the settlement of current liabilities or long term-obligation in a planned manner.

The next strategy is to implement a system of projecting cash flows for each month, as a way of earmarking Working Capital funds. That way money collected from business operations, flowing in as additional working capital fund will only represent increments. At the end of a cash flow period, any amount exceeding the original balance of the Working Capital Fund will immediately identify the operating period as a growth month.

On the other hand, if at the end of the period the Working Capital Fund is less than the original balance, then a deficit occurred. This denotes that business operations for the month did not bring in enough cash to cover the expenditures for the period, let alone generate potential increments to the capital funds.

In such cases the Working Capital fund requires replenishment, but a review of the cash receipts, expenses and other disbursements must be performed to ensure propriety and validity of transactions that resulted to a deficit.

Digital Currencies Will Change The Financial Landscape

Finance

You must have certainly heard about digital currencies or what is known these days as cryptocurrencies. Bitcoins, Peercoins, and others are becoming more and more popular in the marketplace. Statista says that there are more than 1400 Bitcoin ATM all over the world. Cryptocurrency is also becoming a trend in many online deals for various industries.

Want to trade bitcoins? Get the capital you need. Get fast, quick and easy loans from Need Money Now. 

As we are entering another decade of this digital era, the financial industry will continue to revolutionize and make a huge change in the way we deal with our transactions and savings. We are almost in the era of cashless transactions as we embrace electronic and digital currencies.

Let’s take a look at the professionals’ point of view on the impact of digital currencies in the financial landscape in the years to come.

1. Inexpensive International Money Transfers

Digital currencies are a huge help for international money transfers. Many people can take advantage of bitcoins to receive or send money internationally. This bypasses expensive foreign exchange services of banks and other payment processors.

2. Better Security To Protect Digital Currencies

At present, it’s unfortunate that a few of us lost money in online transactions. Regardless of how small or big the amount of lost, financial technology will move to develop a stronger, more secure system to protect digital money and digital transactions.

3. Alternate Currency Reserve (In Volatile Economies)

Digital currency is relatively new thus it is less stable when compared to currencies such as the EUR and USD. However in several nations susceptible to inflation like Venezuela, their digital currency, bitcoin is in more ways stable compared to their own national currency. As a result, it’s no surprise that the use of Bitcoin in Venezuela has expanded almost seven times at the start of the year.

4. Efficiency – Faster, Easier, And More Secure Payments

Digital currencies make payments faster, simpler and even more secure. Because of efficiency when using digital currencies, this could impact how banking institutions work. Banks should commence using the concept of digital currency.

5. Market Transparency

Digital currencies lead to changing the conventional way of doing business. People who use digital currencies appreciate market transparency. The availability of public ledger creates transparency for all users. For this reason, there is a big chance that traditional transactions will go down while digital currencies will continue to rise and may take over the financial system.

6. Cryptocurrency Empowers The People

Cryptocurrencies will be less complicated due to lesser intermediation. With this new structure, the cryptocurrency code will set the rules. Bank personnel that took advantage of the system their own personal profit will eventually suffer a loss from their misdeeds. This revised financial structure eliminates the banking institutions as the middle person and gives more power and flexibility to the people.

7. Possibilities of One World Currency

We are moving towards global conglomerate that digital currency could become a currency for the entire world having the same value regardless of the country and removes expensive currency exchange rate as we know today.

Digital currencies as we know today serves a lot of benefit to many users. Although it is not yet widely accepted by the general public, the vision that most finance professionals are looking at could be possible. In fact, we have started way back then when financial technology had been introduced starting with credit cards and ATM machines.

Why Every Small Business Need Financial Planning

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Some owners of small businesses are already experts when it comes to financial management. Some have previous experience when it comes to handling small businesses and they even have enough knowledge and deeper understanding of business accounting. 

If you belong to those who are planning to start a small business or you already have a business and you want to be able to handle your finances effectively, then you must keep on reading. Moreover, this is to those with little-to-no finance experience.

Important Terms to Know When it Comes to Business Accounting:

1. Gross Revenue- This can also be called total revenue which is the sum of payments you received from your customers in return for the company’s product or service prior to deducting other expenses.

2. Expenses- this quite common sense. Expenses refer to anything that keep your gross revenue from going to straight to your pocket such as rent, supplies, payroll, taxes, and other operational expenses.

3.Net Profit– This is sometimes referred to as the bottom line, net income or net earnings. This is what’s from all the expenses and profit. You will know that you are creating profit if the net profit is positive. If it s negative they you have to take action. I know someone who experience, this, hence they look for payday loans near me. 

4. Break-even Point-  There will come a time where small businesses will experience temporary loss especially during the first few months of starting a business. Hence, their expenses are greater than their profit. If your expenses are just equal to the net revenue, it is called break-even

Important Documents in Business Accounting 

1.Balance Sheet- this is where you can see a glimpse of your business’ financial status. You can find the assets, liabilities, and equity your company holds in the balance sheet. Basically this will make your tasks easier.

2. Income Statement- This is also referred to as the profit and loss statement and can be a summary of your business revenues and expenses all throughout the year. Moreover, income statement allows you to easily calculate how much you earned. It is crucial to maintain an accurate and consistent income statement because this will be used to determine the break even point for small and new businesses.

To someone whoa is just starting a business, he/she will find the guidelines and documents overwhelming especially preferred to handle manually. Fortunately, because of technology advancement, there are various open software available that will handle your bookkeeping.

Crytocurrency, Blockchain And Direct Lending

Finance

Peer-to-peer or P2P lending reviews, like the grupeer review, are quite favorable since borrowers and lenders both gain from it.

For borrowers, P2P lending grants interest rates that are lower as well as a chance to obtain credit for individuals who have a spoiled their credit history. On the other hand, investors or lenders who lend via platforms of P2P delight in a considerably higher rate of interest than any other savings account can tender.

Some investors or lenders consistently collect returns at around 8% to 13% yearly. Furthermore, both lenders and borrowers gain from bettered transparency.

Although P2P lending has transformed the manner people borrow, save as well as invest money, this lending sector itself is being disturbed by providers of cryptocurrencies. Supporter of cryptocurrency assert that the technology on blockchain can genuinely have a result that’s transformative on P2P lending. Debatably, utilizing cryptocurrencies such as bitcoin and ether for P2P lending will grant scalability, transparency and efficiency that is much greater as well as the possibility of lower costs.

Cryptocurrency, what is it and why is it worthwhile?

Cryptocurrency have already made the headlines, so by this time, almost every person has an idea of what cyptocurrency is. For those who do not, cryptocurrencies are also termed as digital money, virtual currencies, or simply as tokens. They aren’t similar to any standard currency that the world uses. These digital currencies could only be utilized online. One distinguishing attribute of cryptocurrencies is that they are decentralized. This denotes that it is not controlled by anyone, it is entirely unconnected to central governments or banks.

Cryptocurrencies are structured and systematized over a network called blockchain. A blockchain is a ledger that is shared and distributed wherein it records each and every single transaction.  These transactions made on blockchain are irreversible and permanent and intrinsically transparent, causing the transaction to be more valuable and reliable

What are the notable benefits of cryptocurrencies?

Transaction fees are minimal. When compared to credit card transaction fees, digital currencies have zero to minimal transaction fees.

You are the owner. In banks, when your money is kept there, it could be frozen or restricted by the bank itself, the government or by another unit. With cryptocurrencies, provided that you have the private key as well as the matching public key that constitute the address of a token, nobody could take that from you.

It is accessible. There are thousands to millions of individuals around the globe who are unbanked. However, anyone who has internet access to could use cryptocurrencies to send and receive payments.

It is prompt and quick. Using wire transfers and cheques could take 3 to 5 business days for it to be cleared and received. Transactions using cryptocurrencies are almost prompt and fast, with operations that are more complicated taking only 10–20 minutes.

Identity is safe and secured. When doing online shopping, it is at all times a necessity to input all your personal and sensitive data, like your credit card details. This poses serious risks. With cryptocurrencies, money could directly be sent to the receiver without divulging any sensitive info apart from the total amount of payment.

Cryptocurrencies are alternatives that are unsoiled and transparent to institute fiat currencies as well as  a technology that changes society for the better. Merging the advantages of P2P lending with the blockchain technology will make lending and borrowing as well as saving money very simple, efficient and transparent.

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