Browsed by
Category: Personal Finance

Is Cryptocurrency Still A Good Investment in 2021

Is Cryptocurrency Still A Good Investment in 2021

Since Bitcoin’s introduction to the masses in 2009, cryptocurrency has grown exponentially.

Now, it has a market cap of over $855 billion and Bitcoin’s new ATH record just hit $34150.

However, it’s concepts, and financial protocols can be difficult for new investors.

And as cryptocurrency continues to grow, investment options will always be available.

We’ll examine the 5 main reasons why the cryptocurrency is still a good investment in 2021 for people from all over the world, not just to those living in Florida:

Reason #1: It’s inexpensive

Cryptocurrency transaction fees are minimal. At most you’ll have to pay about 0.2% of the transaction.

In comparison, US banks will charge around 3% in credit card fees each time it’s used. So you’ll find it easier to make international transactions with cryptocurrency.

Reason #2: Growth Potential

The crypto world can be intimidating, due to the complexity of its underlying technology. The technical computer terms that are used can deter and confuse outsiders.

This is one of the reasons why people tend to shy away from cryptocurrency.

The fact that cryptocurrency scares most people is the same reason why you would want to invest in it.

Hopping on the bandwagon earlier than other investors gives you an edge (in terms of experience and potential gains).

Cryptocurrency has a steep learning curve, but it’s worth it. Once a cryptocurrency (i.e., ETH, LTC, etc.) receives adequate mainstream coverage, that’s when the masses will pour in.

Cryptocurrency is a great investment option in 2021 as its growth potential gives rewards for people who invest in it early.

Reason #3: Simplicity

The cryptocurrency transaction process is simple. Both buyer and seller have verified addresses, and the transaction is processed within the blockchain platform.

Due to its simplicity, it’s now getting easier to invest in crypto.

Investing in cryptocurrency in hopes of taking advantage of price increases is as simple as buying it on an online exchange.

Users can easily connect their bank account and start receiving Bitcoin, Ethereum, Litecoin, etc. Cryptocurrency transactions are subject to virtually no regulatory oversights, which makes the transactions efficient and headache-free.

Reason #4: Ideological Empowerment

If you aren’t a fan of monopolistic corporations, big banks, and the government, then cryptocurrency is perfect for you. Let’s face it; our society is used to central authorities – in the form of an institution, government, or any other authority – that uses rules to dictate how things are done.

What if we could change the tables and give the masses the ability to have an opinion on how things should operate? This would create a completely democratic system.

One of the main reasons why you should consider cryptocurrency is because it empowers the masses and democratizes traditional corporations.

No longer will have you have to depend on intermediaries for transferring money that has a large fee.

Loans have always been a great way to help individuals receive cash quickly or to help entrepreneurs get started.

On average, it can take about 24 hours to receive loan funds. Take a look at FloridaCashHelp.com if you’re looking for a reputable loan site that provides funding for your financial situation.

While you could take out a $500 payday loan, cryptocurrency allows you to take out money instantly.

There is a multitude of coins that allow users to transfer their money to anyone with a fraction of the total fees.

Not only that but having private wallets gives you more control over your money. Investing in cryptocurrency is like managing your own bank; you get to make your own rules.

Reason #5: Privacy and Anonymity

While this was once an advantage for users on the ‘dark web,’ the mysterious nature of crypto is still a benefit for traders and investors.

Unlike debit and credit cards where the user’s identity can be tracked, cryptocurrency uses blockchain technology to prevent this from happening.

This anonymous feature is a benefit that means neither the accounts that are sent or the transaction, are connected to the user’s identities. Once someone obtains a crypto address, it’s virtually impossible to track them.

Usually, the addresses will have a random chain of over 30 characters. While you can possibly analyze the transaction flow, you’ll be unable to connect the real-world identity of the users behind the addresses.

Privacy and anonymity are one of the main features of Bitcoin – which prevented governments and financial institutions from knowing what you’re buying or investing in, whom you’re buying, nor how much you spent.

Thus, investing in cryptocurrency gives you the power to keep your information private when making important transactions on the internet.

In Conclusion
Despite what skeptics say, cryptocurrency is a good investment option once you understand the small nuances behind it.

Once you start investing in cryptocurrency, you’ll find it easier to utilize it and speak with other experts in the field about it. Try to invest in cryptocurrency whenever you can to increase the chances of reaping the rewards it has to offer.…

11 Personal Finance Tips to Stop Overspending

11 Personal Finance Tips to Stop Overspending

Committed to sticking to your budget? Make sure you reach your budget goals each month by lowering your risk of overspending.

The urge to overspend or buy on impulse may be preventing you from saving money and keeping your finances in check.

If you want to stop overspending and reach your financial goals, you’ll need to say goodbye to spending sprees, unnecessary purchases and “retail therapy”. Knowing what your spending “triggers” are is the first step towards financial recovery.

Get your finances under control this year and look forward to a better financial future. Use these eleven personal finance tips to stop overspending:

1. Don’t let spending be your escape. If you enjoy shopping as a diversion or use retail therapy to manage your life on a regular basis, now is the time to put these activities on hold. Stop overspending by making a commitment to only spend on things you need – and not go on shopping sprees as an extracurricular activity.

2. Appreciate what you have. If you’ve gotten into the habit of overspending and have been shopping regularly, you’re probably stocked up on some great finds and goods. Take some time to “take inventory” of what you have and appreciate everything you’ve bought. Remind yourself that more things don’t necessarily mean more satisfaction.

3. Find satisfaction in other areas of your life. Overspending can give you a temporary fix when you’re stressed or are dissatisfied with a certain area of your life. Ask yourself why you’re dissatisfied and find healthier ways to fill that void.

4. Always shop with a list. It’s harder to buy extra items and overspend when you commit to purchasing only what you have on a shopping list. Whether you’re shopping for groceries or clothing items, make a list and stick with it!

5. Track each and every purchase you make. Become more aware of your spending habits and make a list of everything you buy day in, day out. Simply writing these purchases down can stop you from overspending.

6. Set your own spending limits. Set limits on how much you’re going to spend on something, even if it will be a “splurge”. Setting limits puts you back in control and will help you avoid overspending.

7. Talk to someone about your financial habits. Being more open about your spending or shopping habits can make it less likely that you’ll cheat on your budget. Share your goals with someone you trust and have them hold you accountable.

8. Learn how to find great deals. After you’ve set a budget and limit on your spending, start shopping around for the best deal and comparing prices. You’ll be surprised how much you can save on major purchases just by shopping around, and this strategy can stop you from overspending all year long.

9. Don’t count on your credit cards. Credit cards can give you a false sense of buying power and can even perpetuate your spending habits. Leave your credit cards at home and don’t even think about them as a spending resource.

10. Avoid doorbuster deals. Doorbuster deals and deep discounts on only certain items help to lure shoppers and spenders into the store so that they end up spending more than they would otherwise. Avoid these special sales altogether and focus on purchasing specific items you want on your list, and comparing prices until you find the best deal.

11. Be patient with yourself. You won’t be able to nix the overspending habit overnight, especially if you’re guilty of overspending on a regular basis. Give yourself time to try different spending and budgeting strategies, and be prepared to slip up now and then. Keep recommitting to your healthy spending goals until they become a habit, and you’ll soon say goodbye to overspending.…