A Beginner’s Guide to Getting Started with Cryptocurrencies

Anyone hearing about cryptocurrencies for the first time is held in a situation of many unknowns. To get into the cryptocurrency market, you must understand what they are. At first, the biggest challenge lies on where to start. What are the top keywords to factor? Are there helpful resources? This article is purposefully a beginner’s guide to getting started with cryptocurrencies. In less than an hour, you will have a bright idea of how crypto investing is all about.

The Emergence of Cryptocurrency Investing

different altcoinsAs more people become technologically literate, more accept crypto as a legit store of value. Familiar titles such as ‘bitcoin go on a bullish run’ are common. We might also hear about the ‘ethereum price rise’ in public news feeds. At the onset, there was a lot of negativity towards cryptocurrency speculators. Today the attitude seems to have reversed as more are getting educated and investing on leading bitcoin and ethereum coins and the underlying technology. At the moment, the market cap is in the billions of dollars.

What Makes up the Current Crypto Space?

Apart from bitcoin, we have started hearing the term ‘altcoins.’ This name arose back in 2010 when competitor coins started emerging. It seems the clones or offshoots of bitcoin aspire to occupy their market niche areas. Everyone aspires to be the next bitcoin if not better. As of today, because there are many altcoins in the market, bitcoins’ dominance regarding market cap is significantly challenged. The altcoins seem to be gaining market share at an incredible speed.

Fiat, Stocks, Crypto

In crypto language, the regular currency we handle today is referred to as fiat. Despite sharing the name currency in their description, cryptocurrencies can be easily compared to stocks than currency. When you buy the cryptocurrency, you are in essence purchasing a particular part of a tech stock, better described as the blockchain.

Crypto Exchanges

The principal place people can go about trading their cryptocurrency is the exchanges. These are platforms where you buy and sell crypto using fiat. There are several ways of gauging how reliable a transaction is. You should consider their level of liquidity, fees, spread, insurance, security, trading volume, and limits on purchase and withdrawals.

Crypto Wallets

Most exchanges can store your coins in online wallets. However, with the occasional cases of hacks, it is not advisable to have your coins stored online. A recommended storage alternative is through paper wallet services. To understand how to go about this, carefully follow the online tutorials that explain how it is done. A hardware wallet is another safe way of holding onto your coins. It also gives the user a tangible feel of their holdings. If you are a regular participant in ICOs, you might need a hardware wallet to keep your coins for future use.

bitcoin currency

Percentage of Altcoins as a Portion of Your Investments

In spite of the occasional rags to riches stories from bitcoin holders, exercise great caution. Having no collateral, holding bitcoins are very unpredictable. Those who are smart only speculate with money you are willing to lose.

Opinions on cryptocurrency investing vary from person to person. This article points out a general picture, and every reader should exercise their discretion whether to spend or not.…

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Useful Tax Tips That You Need to Know

Tax professionals and CPAs can give you advice on taxes. Many firms have been set up to offer these essential services to the business people. Their guidance will help you in taking advantage of the available opportunities that are not known by amount business owners. They will also help you in avoiding some tax deductions that arise from misguided tax information.

All the expenses should be tracked consistently

All the expenses including those that you pay should be tracked. For instance, you will get to know what you are supposed to pay using your credit card.

Organizing your accounting records and accounting for them will help you in determining the deductible items. Credit cards are personal, and they should not be added to your accounts. They only feature as shareholder or owner contributions. These charges should be recorded on a monthly basis to make ensure that you do not forget them when you are closing your financial year.

Avoid money leaks

Most of the small business owners are faced with various cash flow issues. These are some of the issues that make them get behind when paying their taxes and bills. You are advised to pay your tax on time to avoid penalties.money

Maximizing retirement contributions

Most of the business owners are ever bus working on their business premises. Some of them even forget that they will retire in future. This is something that most people don’t think at all. Having a good retirement plan option can help you in putting aside some money for your retirement. Most of these funds are tax deductible. Having a company retirement plan is also advisable. You can discuss the best retirement plan option for you by contacting your financial advisor or tax advisor.

 

Expenses paid personally

Personal expenses should not be mingled with the business. There is no tax that is deducted from them. A tax accountant can easily differentiate such items from the rest. These are smart guys who have been trained for many years.managing expenses

Postponing your prepay deductions and income

This is an effective method of saving your business taxes. Individual who are in a high tax bracket can postpone their income before the end of the year. To postpone your income, you should avoid issuing an invoice toward the end of the year. Likewise, the rents for the office equipment should be prepaid up to eleven months to avoid prepay deductions.…

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Main Features and Benefits Associated With Personal Loans

People borrow money from financial institutions and banks to meet their financial needs. These loans are available for different products. Lines of credit and instalment options are some of the feasible options for getting or borrowing money. There are some differences between these options. This article is going to enlighten you on the best option that is fit for you.

Instalment loans

This is the most popular type of personal loans. It is either borrowed from the banks or other lenders. It is paid back after a certain period. These loans are paid in monthly instalments which are determined by the interest rate, repayment period and the principal amount that is borrowed.interest rate

Features and benefits of instalment loans

It is easy to know the exact amount of money that you need to pay each month. This is pre-determined by the provisions outlined. This is helpful in eliminating simple miscalculations and surprises. The fixed terms given will help you in controlling your finances. These loans are ideal for home improvement projects, refinancing and college tuition. You can also use them when purchasing the different items for your house and other items such as equipment, and cars.

Lines of credit

With lines of credit, borrowers are provided with the amount needed. The lender determines the amount for every line of credit. This amount can be withdrawn whenever a need arises. The APR and your payments will vary depending on your outstanding balance and your payment history. It is so determined by other aspects of the lender’s criteria. You can know the full disclosure by reading the fine print.credit card

Features and benefits

It is a flexible form of borrowing. It is also known as revolving credit. The available amount that you can borrow will resolve back to the initial amount once you pay down your outstanding balance. This means that you will be capable of borrowing money again and again. It has low minimum payments due.

What you need to consider when borrowing a personal loan

These loans are available on both short-term and long-term basis. They are approved based on the borrower’s income. Debt-to-income ratio and credit score. Your application can be rejected if you have a poor credit rating. It is the responsibility of the borrower to ensure that he or she can repay the loan promptly based on his or her requirements. Personal loans do not have early repayment penalties. The lender or the bank can also help you in making the final decision.…

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