Paying Your Loan with Cryptocurrency

Is it worth it to take a loan using your cryptocurrency to pay for your cash advance in https://mycaraccidentcashadvance.com/? Despite the fact that many of the crypto miners and owners see this as a long-term investment, they plan of holding their assets until such time they can generate a handsome revenue out of it. So rather than selling, investors may make use of their cryptocurrencies as collateral against a loan backed by their crypto.

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Etherium Blockchain - New Investmet Possibilities

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Canada Is Taking The Next Big Step In Crypto Nation Race

First Bitcoin mutual fund in CanadaFirst Block Capital Inc., a Canadian investment company which is also active in the crypto market, stated that its own Bitcoin funds are now officially recognized as investment funds in Canada. Not only is this a big step for cryptocurrency investors, it’s also another big step for Canada in the Crypto Nation race – and could open more doors for global Bitcoin trading.

Check out also, The Best Canadian Dividend Stocks For 2020 here.

Canada’s Crypto Regulations

More market presence at better conditions

The “FBC Bitcoin Trust” has been the flagship of First Block Capital Inc. for years. The fund was officially registered as an investment fund in Canada and enables investors to save fund shares in self-managed accounts such as registered pension plans or tax-free savings accounts. In this way, investors can easily get into Bitcoin trading and benefit from it without having to worry about buying and managing the cryptocurrency themselves.

The mutual fund is currently only accessible to accredited investors via NEO Connect, a platform for fund sales, under the acronym FBCBT. Trading the Bitcoin fund should be as easy and quick as with regular funds. The 30-day redemption clause has also been deleted for the fund.

If the test phase is successful, the funds from Bitcoin and Co. could soon spread to other countries and be open to all investors, which would make buying cryptocurrencies a great success.

A big step for investing cryptocurrencies

Due to the simplicity and elimination of the “middleman”, the investment funds are a qualified investment within the meaning of the tax law. The FBC Bitcoin Trust is also the first product of its kind in Canada to be approved by both the Ontario Securities Commission and the British Columbia Securities Commission, and has given investors the opportunity to use Bitcoin as a mutual fund in savings deposit and retirement savings accounts.

Sean Clark, managing director and founder of First Block, said at the time of the announcement in a statement that he “wants to increase Bitcoin’s investment risk by removing complicated hurdles for direct cryptocurrency investments.” The company is pleased to announce that its fund is now more accessible to investors and has found a suitable partner for this project in NEO Connect. Since its introduction about a year ago, the Bitcoin fund has already won over 150 shareholders.

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How Crypto Trading can be more Manageable and Effective?

On the subject of trading, there are multiple steps that have to be performed in an effort to minimize exposure to price volatilities of the market. Having the ability to combine fundamental and technical analysis can go a long way in determining the true value of an asset or company, reducing risks as you carry on and lastly, securing better chances of success with a given investment. So if for example that you are eyeing on Atlanta rental property management companies to invest on, you can take advantage of this to make an intelligent decision.

Your Plan of Attack

While it sounds sweet to make good money for such, you will need to secure a plan. For this to happen, it is highly recommended to implement the following:

Be a Master of Your Emotions

Creating risk management plan is tantamount to eliminating unforeseeable outcomes. When such happens, it can lead to the reduction of losses.

With effective risk management plan, it must be parallel with your cryptocurrency trading journal too, work along with poor trading behavior while justifying fundamental expectations.

By means of reducing negative or harmful trading habits, it is probable to boost profits without making compromises. As much as possible, remain reasonable and stoic and remove your emotions from any psychological aspect of your trading patterns. Instead, rely mostly on facts like:

  • Volume
  • Price
  • News and;
  • Trend

This is what matters and do not divert your attention to anything.

Diversify Your Portfolio

Regardless of how promising or tempting a trade opportunity seems to be, it isn’t a great idea to put everything on it. In general, a spread of a certain asset and in fact, combination of various asset classes within your portfolio is enough measure to reduce exposure to bigger price movements within a certain market/industry.

Cryptocurrency market’s volatility is different from any other industry or market. Here, even what seem to be a perfect trade could collapse and lead to a major loss. Thus, it is best if you’d start investing in different coins. Five would be a good number to start.

Remember as well to make the most of stop-loss feature of an exchange and utilize it to your edge when you’re away from manual trading like at work or taking rest. Time and time again, new traders are failing to integrate good exit strategy and usually wind up with a twenty percent loss of their trade.

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Underlying Issues with Bitcoin that No One Seems to Notice

2009 was a monumental year in cryptocurrency because this was the time when Bitcoin has opened its doors to the public. Since then, blockchain or the technology where Bitcoin depends on has welcomed hundreds and even thousands of brand new cryptocurrency in the market. If this is true, then it is safe to say that Bitcoin has pioneered the crypto market. The only question remains is, why is it volatile?

Daniel Garnsey, an expert in crypto-trading explained the highs and lows of such. As per his statement, the cryptocurrency’s value regardless of its type will depend largely on market speculations. He mentioned as well that it’s relatively small in comparison to other established and known markets out there.

Market Speculations Dictates the Crypto’s Performance

By small market, what he actually means is that, there is a greater chance that lows and highs would create ripple effect because of the large sell or buy orders that is representing bigger portion of the market.

No matter if it is a negative or positive report in media, it is more than enough to move the price up or down. In relation to negative media, this is creating a situation to which fewer people would want to make a purchase while current owners will consider selling what they have in an effort to lessen losses.

Then there’s the term “regulation”. Basically, this is when the government tries to secure things both on financial and legal scale. Additionally, it has a part on why Bitcoin is volatile. Daniel stated that if there is speculation that a certain token will or will not be allowed for trading as per regulations, then expect that its price would be the next to be affected.

Trade Anytime, Any Day

When compared to conventional stock exchanges that are open for certain number of hours in a day, crypto market is actually open and in operation 24/7. This is not a big factor for its volatility though if placed side-by-side with stock exchange, if an event took place, it can change the market and price in real-time. Meaning to say, there’s more movement.

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Paying Your Loan with Cryptocurrency

Is it worth it to take a loan using your cryptocurrency to pay for your cash advance in https://mycaraccidentcashadvance.com/? Despite the fact that many of the crypto miners and owners see this as a long-term investment, they plan of holding their assets until such time they can generate a handsome revenue out of it. So rather than selling, investors may make use of their cryptocurrencies as collateral against a loan backed by their crypto.

With this, it lets them keep ownership of their funds while also gaining access to the money they needed for the project they seek. Whether you believe it or not, cryptocurrency backed loans are actually among the most cost-efficient and effective way of managing your crypto assets, especially when you need easy access to USD. There are many different websites these days that are enabling their clients to make use of their loans towards various purposes which include but not limited to the following:

  • Buying a House – conventional lenders won’t let you pay for house using crypto
  • Diversified investments – you can now lower the risks of your portfolio by means of diversifying it
  • Pay off travel expenses – with your crypto, you have now more options to pay for your vacation
  • Pay mountain of debts – refinancing your debt from credit cards or even student loans are now possible
  • Fund a business – you will be given with easy credit access that your business needs by using crypto

Applying for a Loan

Many clients who apply for such a loan online do this by entering their requested loan amount, type of crypto they like to stake and the AML/KYC info for verification purposes.

These websites are so secure that it don’t soft check or pull hard on the client’s credit. This way, there’s no reason for you to be worried about your credit score to be affected.

Reviewing Your Loan

One of the things that you have to take into account would be the interest rate. Depending on the service, the rate of loaned amount will vary and sometimes, other factors would be considered too such as location and credit history.

The next thing you’ll notice is going to be the offers. Again, this will depend on the loan amount requested by the applicant, location and credit records. Beyond this point, you’ll see your offer APR which is a basic way of showing the overall price throughout the duration of the loan.

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Investors Are In Debt For Bitcoins

Investors are now even taking out loans to buy bitcoins, the first and well-known cryptocurrency running in the market. This becomes a problem due to the crash. Governments now want to intervene.

18% of Investors Buy Bitcoin on Credit

Given these price fluctuations, it is correspondingly worrying that investors are increasingly in debt for the purchase of cryptocurrencies. It is more alarming that many people in bad debt jump into the wagon borrowing more money from agencies. Because like the Brockhoffs, 18 percent of Bitcoin buyers are already taking out a loan. This is shown by a survey of 3000 investors in the USA and Europe, which the Coindesk website has just published.

Wolf Brandes from the Hessen Consumer Advice Center considers this to be a critical development: “An investment in bitcoins is highly risky, in the worst case there is a risk of a total loss.” Anyone who has taken out a loan quickly remains on debt. Brandes already feels reminded of the Neuer Markt. Back then, investors also dreamed of big profits, bought stocks at the pump – and ended up losing a lot of money. Felix Hufeld, head of financial supervision Bafin, also fears that the Bitcoin boom will result in “excesses that produce bitter losers”.

Banks Restrict Transactions

This is why some banks intervene. JP Morgan, Citigroup, Bank of America and Lloyds have recently stopped allowing their customers to buy bitcoins with their credit cards. By doing so, they want to protect consumers – but also themselves. The fear of banks that they will remain on debt is obviously too great if the prices for cryptocurrencies fall. Especially since credit cards in the United States and Great Britain work a little differently than in Germany: If the open amount is automatically debited from the current account every month in this country, customers in Anglo-Saxon countries can flexibly decide when and how much to repay. Unlike in Germany, in the USA and Great Britain, you can get real credit via the card and the banks have no interest in customers using it to gamble. And buying bitcoins is a gamble, as central bankers like Mario Draghi see it. Digital currencies should be classified as “very risky investments,” he said this week.

Especially since no one knows what will happen to the cryptocurrency. The few forecasts that are available differ widely. While the Danish Saxo Bank sees Bitcoin’s price rise to $ 100,000 this year, Goldman Sachs warns that some cryptocurrencies could fall to zero. Oliver Flaskämper, who has been dealing with bitcoins for years and operates Germany’s only marketplace for cryptocurrencies Bitcoin.de, therefore does not even venture a forecast. “I could also predict the lottery numbers there,” he says.

The power consumption for the production of bitcoins is high

It will also depend on politics on how Bitcoin and Co. develop. Governments and regulators worldwide are currently dealing with the question of how to control cryptocurrencies. Agustin Carstens, Director General of the Bank for International Settlements (BIS), believes this is imperative. By the latter, he means the enormous energy that has to be spent to create bitcoins on high-performance computers. The electricity consumption for the production of the cryptocurrencies already corresponds to the consumption of the state of Singapore, Carstens calculates.

In Germany, the Bitcoin regulation even appears in the coalition agreement between the Union and the SPD: One wants to work for an “appropriate legal framework for trading cryptocurrencies and tokens at European and international level,” it says. At the request of Germany and France, a set of rules for cryptocurrencies could even become an issue at the meeting of the G20 finance ministers in March. The two countries propose to commission international expert bodies such as the FSB, which is responsible for financial stability issues, with a report. In addition, the International Monetary Fund (IMF) must be considered. But that also shows: What regulation of cryptocurrencies should look like is still open. Especially since this runs counter to the ideas of their inventors who want free currencies,

South Korea and China have banned bitcoin trading

China and South Korea, which completely ban bitcoin trading, are already going particularly far. Exchanges on which Bitcoin and Co. are traded must close. China has also banned the creation of new bitcoins. Digital currencies are generated on high-performance computers – this is not possible without access to the power grid, which China is now refusing.

Worldwide, however, a complete ban on cryptocurrencies is hardly enforceable, according to exchange operator Flaskämper. He compares this to gold: in history, too, people have always wanted to ban precious metals. But you couldn’t keep it up. In his view, a ban would not mean the end of cryptocurrencies – trading with them would only migrate to the so-called darknet. Governments could have no interest in that either.

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Scams on Cryptocurrencies


It is always our desire to grow our hard-earned money and we never run out of ways on finding how to make it grow for us. Unfortunately on some, they bump on fraudulent ways on growing finances and fraudsters never run out of ways on devising new ways to scam people. Recently, several people have been nabbed on allegedly scams through cryptocurrency. What do you think about this news?

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Purchasing Using Etherium


Nowadays, many have engaged in trading decentralized currencies such as bitcoins, etherium, ripple and such. These digital currencies have been very handy especially in this modern times where people tend to transact cashless with ease through our fingertips. Although, transacting through digital currency is still some rocket-science especially for people who are not that tech-savvy. Here is a quick run through on how to use for purchasing your Etherium coin.

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