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Cash for Crypto: How to Buy and Sell Cryptocurrency

Crypto gets a bad rap from mainstream media, but it’s outperformed the stock market, so if you want to learn how to buy and sell cryptocurrency, click here.

Bitcoin is not the only cryptocurrency that is making waves on the exchanges. Now is the time to invest in the future of finance, but how to begin? If you are ready to start building a cryptocurrency portfolio, this article tells you how to buy and sell cryptocurrency safely and effectively.

How to Buy and Sell Cryptocurrency

Cryptocurrencies are bought and sold, exclusively, through an authorized cryptocurrency exchange. These exchanges facilitate the trades between buyers and sellers of a cryptocurrency coin. Different exchanges offer different coins, but all exchanges trade in Bitcoin and Etherium.

Cryptocurrency Exchange Basics

Trading cash for crypto is done on a cryptocurrency exchange. These are trading platforms that facilitate the buying and selling of individual coins on the crypto market.

At the beginning of the cryptocurrency boom, the price of a coin would differ depending on the trading platform you used. This offers an opportunity for arbitrage: Capitalizing on the difference between a stock on a low priced exchange and an exchange with a higher price.

Now that the crypto market has leveled out and normalized, you find little difference on coin prices between different trading platforms.

When it comes to entering the crypto market on an exchange, the best platform to begin on is Coinbase.

Coinbase

Coinbase is a cryptocurrency brokerage platform or crypto exchange. It is the most reputable and easy to use trading platform for buying and selling cryptocurrency. It provides an easy-to-use interface with minimal complicated options, so it is great for entering the market.

From the Coinbase dashboard, you can link your United States currency (USD) account to purchase coins. Coinbase trades in the top five cryptocurrencies: Bitcoin (BTC), Etherium (ETH), Bitcoin Cash (BCH), Litecoin (LTC), and Etherium Classic (ETC).

Most trading platforms are designed for crypto-to-crypto currency transfers, but Coinbase lets you buy into the market with your USD.

Once your coins are stored in your Coinbase Wallet you can send it to your personal crypto wallet. From your personal crypto wallet, you can transfer your coins onto a larger trading platform, like Binance.

Binance

Binance is akin to a full-scale stockmarket trading platform, such as TD Ameritrade. It provides a wide range of customization options and trading tools. You can even integrate your own Trading bot API, such as 3Commas.

Binance trades a wide variety of cryptocurrencies. The price of coins ranges, from less than a penny to thousands of dollars. Like the stock market, the real money to make is in up-and-coming coins that show undervalued promise.

When you make your millions and want to withdraw your money back to USD, you cannot do it from Binance. Binance only facilitates crypto-to-crypto trades.

If you want to withdraw the balance back into your USD bank account, simply reverse the process. From Binance, trade your currencies for one of the five coins that Coinbase trades. Send your coins to Coinbase, where you trade your coins for USD and withdraw back to your bank account.

BitMEX

BitMEX stands for the Bitcoin Mercantile Exchange. BitMEX is a great trading platform for experienced and professional crypto traders. Every day, BitMEX processes over $2 billion and offers up to a hundred times leverage on trades.

BitMEX uses a unique option for leveraged contracts. You can trade in altcoins, or alternative coins and your gains or losses are realized in Bitcoin.

The exchanges base is in China where minimal regulation is in place for crypto trading. Unfortunately, BitMEX is not available for traders in the United States, since the platform is considered to deal in fiat currency.

Buying Cryptocurrency

When you are ready to buy a cryptocurrency it is important to time your purchase with the market. The price of any coin fluctuates through the day.

Some crypto coins are worth hundreds of dollars and serve as a stable long-term investment. Any of the big five Coinbase currencies are stable places to put your money.

The vast majority of available crypto coins are called alternative coins, or altcoins. These coins range in value, starting under a penny per coin. They can reach values above a hundred dollars and still be considered alternative-coins.

Investment Stratagies: Quality or Quantity?

If your strategy is to heavily invest in low price altcoins, the swings can be huge. Buying a single expensive coin is a more stable investment than altcoins. But the big profit potential is in altcoins.

Instead of buying a few expensive coins, some risky investors choose to buy a large number of altcoins. The worth of altcoins is much more volatile, but you can make more money if you know how to buy and sell cryptocurrency at the right times.

It comes down to the amount of energy you want to devote to trading. A high-quality, high-price cryptocurrency might fluctuate a few dollars in a day. Your losses and gains are relatively low, which makes them stable.

On the other hand, you could buy ten thousand altcoins valued under a dollar and see substantial fluctuations in a day. When the price goes up one penny, you make $150 bucks.

A differentiating factor in how to buy and sell cryptocurrency is understanding the ebb and flow of the market from day to night. Unlike the stock market, the crypto market is open 24 hours a day, 7 days a week. When one side of the world goes to sleep, the other side of the world is just waking up.

Typically, the crypto market fluctuates in a similar fashion through the day. There are sharp spikes and drops in the morning, as a response to the activity which occurred overnight. Each coin is unique in how the market responds.

The first step is to buy into one of the five coins offered on Coinbase. From there, you can transfer your currency to a crypto exchange and buy any coin you want.

Selling Cryptocurrency

Selling your crypto coins is done from the same platform as you use to buy. You can buy and sell your coins from Coinbase, Binance, or any other cryptocurrency trading platform. The trick to selling is to use a trading tool.

Trading tools, like crypto bots, manage your buy and sell orders automatically. And it is how to buy and sell cryptocurrency at the best possible prices.

Automated trading tools act on your instructions to buy and sell coins when the price is optimal. Unlike human fingers, these tools act instantaneously to place orders and ensure that you are trading for the best profit.

Final Thoughts

Once you feel knowledgeable on the five cryptocurrencies on Coinbase, begin learning about altcoins, like Ripple. The profit you can make on the cryptocurrency market is equal to the time you invest in educating yourself on trading strategy. Remember, your successful trades are all about timing the market.

If you like this article on how to buy and sell cryptocurrency share it with a fellow trader on social media. And check out the blog for more crypto trading resources. Thanks for reading!

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Need Cash Now? Here’s a Rundown of the Various Types of Bank Loans

If you’re in need of a quick cash injection, you’ve got to know your options. Click here to check out this guide to various types of bank loans.

There is no time like the present to get your finances in order. Having to make a major purchase or deal with a financial emergency when you’re strapped for cash is stressful enough. Dealing with money matters when you have questionable credit is an issue of its own.

Trying to secure a loan during an emergency can lead to a rushed decision. A decision you may later regret because you did not weigh all the pros and cons.

If you are currently in a lot of debt it may be time to start thinking about consolidating. Not only will it help relieve some of the pressure you’re under it could also help raise your credit score.

Whatever your financial situation is, it is always good to know your options. Continue reading to learn more about the types of bank loans available to you and what you need to know to obtain one.

Always Be Aware of Your Credit Score

The first thing you need to know when it comes to discussions about finances if know your credit score and understanding what is in your credit reports. It will be your credit score that plays the biggest part in a bank’s decision to loan you money.

Consumers should take advantage of the annual free credit reports by the three major credit reporting agencies.

  • Equifax – www.equifax.com. P.O. Box 740241. Atlanta, GA 30374-0241. 1-800-685-1111.
  • Experian – www.experian.com. P.O. Box 2104. Allen, TX 75013-0949. 1-888-EXPERIAN (397-3742)
  • TransUnion – www.transunion.com. P.O. Box 1000. Chester, PA 19022. 1-800-916-8800.

Review your credit reports for accuracy and be ready to challenge any incorrect information. A FICO score will typically fall into a range between 300 and 850. The average American consumer has a score of 699 with banks viewing a score below 650 as poor credit.

Now let’s get into the types of loans.

Personal Loans are the Most Popular

If you have pretty decent credit you shouldn’t have a problem securing this type of loan. A personal unsecured loan is a loan that does not require collateral or a cosigner.

The biggest benefit of an unsecured loan is that you will have lower interest rates and sometimes longer to repay the loan. Borrowers can access up to $50,000 for a personal loan at most banks. Those with exceptional credit can borrow up to $100,000.

The average term for a personal loan is three to seven years.

Personal loans can also come with a line-of-credit, which is a maximum amount you can borrow, but no requirement to take the full amount. However, the balance is available as long as your credit doesn’t change.

Personal Loans Requiring Collateral

Not having perfect credit is not a disqualifier for taking out a loan. Lenders have the flexibility to look at your overall financial picture when making a decision on your creditworthiness.

You may not have a perfect credit score, but you may have longevity and stability in your work history. Your debt to income percentage could be low. Or you could own your home or other property like a car.

With a collateral loan, the borrower is required to secure the loan with a piece of property of equal or greater value to the loan amount, such as a car. The risk in collateral loans is that if you are unable to repay the loan you whatever you used for collateral will become the property of the bank. The bank will then sell the collateral to recoup their loss.

Debt Consolidation Loans

If you are overwhelmed by your debt and don’t feel you will ever pay down the balances, a debt consolidation loan may help. With these types of loans, the borrower lumps debt like credit card balances, student loans, and car loans into one manageable loan.

The goal of this type of loan is to pull the majority of your debt into one monthly payment. The mistake some people make is not closing out the credit cards once the balance is back to zero. If not careful, they can end up in a far worse situation.

Loans with a Fixed Rate

Simple bank loans typically come with a fixed rate. A fixed rate loan means that the interest rate you receive when the loan offer is made is the rate you will pay for the duration of the loan.

This is a good thing because your monthly payment will remain the same throughout the repayment period. For those working to improve their credit score having consistent monthly payments makes budgeting easier.

Loans with a Variable Rate

The opposite of a fixed rate loan is a variable rate loan. Like an unsecured loan, these types of loans come with a downside. In this case, the terms of the loan can change without notice due to increases in market interest rates.

One condition of variable rate loans is they come with a base cap for this type of loan. The cap means that regardless of changes in interest rates loans will not exceed a certain percentage rate.

Student loans can have one cap while personal loans have another. If you start at 5 percent on a personal loan you could find yourself paying close to a 15 percent interest rate by the time the loan ends. With increasing rates, which can occur monthly, your payments will also increase.

Home Refinance Loans

Owning a home has its benefits. One important benefit is the ability to take out a home equity loan or home refinance. Having sufficient equity in your home can come in handy. When you have major expenses on the horizon you have a source to tap into.

It may also serve as a form of debt consolidation.

Different than simple bank loans, your interest rate may be lower based on your credit. The downside is that your mortgage payment and terms will increase. This is important to consider if you are close to paying off your mortgage.

In cases where your credit may no longer be as pristine as it was when you purchased the home, you may end up with a higher interest rate. You may also be forced into a balloon mortgage to keep your monthly payment in a range you can afford.

Car Title Loans

Your car can get you the money you need by using these popular loans. Car title loans are loans that use your car title as collateral. Aside from having a clear title for your car, the vehicle will need to be less than 10 years old and have low mileage.

The funds for your loan can be available in less than an hour. The terms, however, are not always favorable. Interest rates can be high, repayment time is short, and your car can be disabled or repossessed if you do not make your payments on time.

Read more here to see if a car title loan is right for you.

Borrowing Against Credit Card Balances

This isn’t always the best choice of loans but can come in handy when you need to get your hands on some quick cash. A credit card loan is merely accessing the available balance on your bank-issued credit cards.

Your line of credit was established at the time you accepted the credit card offer. The amount available to withdraw is the credit limit minus the outstanding balance. In some instances, you may be able to contact the card issuer for a credit increase.

Money borrowed from a credit card is subject to the same interest rates you are already paying.

This could be three times what you would pay on a personal loan. Plus, cash withdrawal often comes with a separate withdrawal fee.

Payday Advance Loans

Another emergency loan is the payday advance loans. This type of loan always comes with higher than normal interest rates. The terms of the loan generally require repayment within 30 days.

In most instances, a bank account is required to secure repayment of the loan. The provider will withdraw the loan amount via electronic ACH on your designated payday.

Payday loans work when you are in a bind and need immediate cash. They should not be relied upon to resolve service cash flow issues.

Types of Bank Loans for Small Business

Business owners have an additional loan option. Small-business loans are a type of bank loan that is geared towards entrepreneurs. These popular loans can be made in amounts up to $500,000 in some instances.

To qualify for a business loan you will need to have a strong personal and business credit score. This may make it difficult for some to get their foot in the door.

You will need to explore the requirements for the loan, which typically includes a solid business plan and proof of your annual revenue. Be prepared to present copies of both your personal and business tax documents.

Do You See a Loan that will Work for You?

We hope presenting the types of bank loans available to you was useful. If you’re looking to take out a loan immediately, shop around for the best interest rates and terms.

For more financial information to help you get in front of your finances, click here for our finance toolkit.

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Why you need to follow an economic calendar

The news and information is an important gateway of knowing the future trends. The predictions are not right all the time but you can guess what trends can come in the future. When the news and information are released, they are to be followed by any calendar. The economy is also an important part of changing the price of the currencies since it is all about the money. The economy of different currencies are interrelated and by knowing the economy of one country, we can guess what the economy of the other country can go. Though not much focus has been given on the economic calendar, knowing the events of the economy in advance is a befit for the traders. This article will tell you why you should make your own economic calendar. Do not draw it with pencils but with the important economic events that are scheduled to release. This way you can guess where the economy and the volatility will go.

Keeping yourself updated

The Forex market is extremely sensitive to global economic news. Many new Singaporean traders often say this market is manipulated. If you closely observe the chart, at times you will see a massive spike in the price movement. This is nothing but the reflection of a major news on the price of a certain asset. The experts always scale out their trade prior to the high impact news release to save their investment.

Now comes the basic question, how do we know when a certain news will be released. This is where you need to follow the economic calendar. Those who are trading CFDs for a long period of time knows very well about the importance of the economic calendar. So it’s highly imperative to know about the impact of different kinds of news prior to the execution of any trade.

What is an economic calendar?

The calendar that we use in our home life is a normal calendar. It tells us the holidays when there are events and others. An economic calendar also tells us the same thing but in economic terms. It tells us when the important economic event is going to be held, when an important economic news is going to be released and when the Forex market may change for this news and economic events. It is a calendar that only tells you the economic events of the year. Every year this calendar needs to be updated because Forex changes every year. You do not need to buy one from the shop as they are available on Forex websites. They are updated every day to keep you informed about the trends.

It tells you about the severity of an economic event

If you think you can manage the trading with your home calendar, you are wrong. The economy has fixed date and time when news will be published. The professional traders know them because they keep a calendar. This calendar not only tells them the time but also gives them hint what volatility it can have on the trends. If you know a big decision is going to be made on the pairs, you can expect there is going to be high volatility in the prices. You get time to plan your trade. You may think they are not useful for the traders but you will forget when you trade. You will be busy with your strategy and planning that you will not get time to look at the calendar. An economic calendar can tell you in advance and you can make your plan to make money with the news. Making money in the online trading industry is a very sophisticated process. You have to deal with the important variables with an extreme level of care. Every step you take should have a logical reason. Focus more on the safety of funds rather than potential profit.

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Stock Trader5 Great Tips to Help You Become an Expert

Do you want to dominate the stock market? Here’s what you need in order to become and expert stop trader and start making investments.

Did you know that only 37% of Americans under age 35 invest in the stock market?

Whether you’re a novice stock trader or financial guru, the right investment strategies can help solidify your financial security and increase your wealth.

Let’s get into the best tips you need to know!

Investment Stock

Understand Your Emotions

Without the emotions involved, investing is merely a numbers game. However, many traders find themselves in difficult situations because they become anxious, overwhelmed, scared, or even greedy.

Before you commit to any investment strategy, it’s wise to understand your risk tolerance, emotional vulnerabilities, and your lifestyle preferences. This reflection will help you choose the best kinds of fundsfor your financial situation.

You need to identify why you’re investing and what you’re hoping to obtain. This will help you identify and cope with uncomfortable emotions that may arise along the way.

Start Now

There’s a well-known saying that reports time in the market beats timing in the market. Whether you believe this to be true, most experts agree that it’s best to start investing as soon as you can.

The younger you are when you start investing, the more you can enjoy the lucrative benefits of compound interest. Furthermore, you have more leeway when it comes to making mistakes or taking on bigger risk. The longer you stay in the market, the more money you are likely to make in the long-run.

Plan For Uncertain Times

It’s normal for investors to change or challenge their stock options during difficult times. However, it’s rarely beneficial to act on pure impulse.

Again, this comes down to identifying why you’re buying a particular stock (i.e.: what are your expectations, what metrics matter the most). It also comes down to identifying what would make you sell (i.e., business structural changes or competition emerges).

Financially, you should also always have an emergency fund to protect your wealth in the event of a market downturn.

Educate Yourself

The stock market represents a never-ending opportunity for education and knowledge. You owe it to yourself to read through the objective and quantifiable ratings on stocks.

You don’t want to just rely on human interpretation- you want to utilize appropriate algorithms that determine useful stock ratings.

And while past performance is not a guarantee of future performance, practical education can always benefit you in the short and long-term.

Commit to a Reasonable Monitoring Schedule

Just like some people enjoy tracking weight loss by hopping on the scale every day, some investors like to check their portfolio every day as well. For others, this strategy is disturbing, and it may cause them to make rash decisions based on minor fluctuations.

You need to find a strategy that works for you. Remember, the stock market will ebb and flow. If you’re investing for the long-run, slight peaks and valleys shouldn’t impact your decisionmaking process.

Final Thoughts on Becoming an Expert Stock Trader

At More Than Finances, we’re passionate about helping ordinary people take control over their finances.

Download our free software packages today. Let’s get you on your way to being an expert stock trader and on the path towards financial freedom!

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10 Retirement Investing Secrets to Ensure You’ll Have Enough Money

Do you rely on your stocks as your retirement fund? You shouldn’t be worried about money. Here are 10 retirement investing secrets for a worry-free future.

21% of the American working population have nothing saved for retirement. Most people who read that figure are absolutely floored.

After all, if some 68 million people have nothing saved for retirement, what are they going to do? Are they going to work until they die? What is supporting those that can’t work going to mean as far as taxes go?

While we can’t answer a lot of those questions, there is one important question that we can answer for you…

“How can you avoid becoming one of those people?”

Below, our team has put together a list of our top 10 retirement investing secrets that will put you in an outstanding position to retire once the time comes!

  1. Start Saving for Retirement Immediately

There’s no time like the present to start saving up for your retirement. That means, when you get your first job, you’ll want to be putting away portions of your earnings into your company’s 401K plan or an IRA/ROTH IRA.

The longer your money has to grow through the power of compound interest, the richer you’ll find yourself when retirement comes around!

  1. Don’t Skip Contributions

We get it… Putting 10% of your paycheck towards that new flat screen TV sounds a heck of a lot better than putting 10% of your paycheck towards a retirement account.

Still, we promise you that when retirement comes around and your flat screen TV is long gone, you’ll have wished that you had forgone the fancy electronics and put money towards your future.

Always invest a little bit of your paycheck into your retirement account each month.

  1. See If Your Employer Will Match You

A lot of the top companies in the world will match your retirement contributions. They do this to attract top talent into their ranks.

If your employer doesn’t advertise retirement matching, ask your HR department if there’s an unadvertised matching program available. If there isn’t, request that HR consider making the request to start one.

  1. Boost Your Contributions When You Can

If your life circumstances change and you’re suddenly coming away with more money at the end of each month, instead of upgrading your lifestyle, consider upgrading your retirement contributions.

For example, let’s say you’ve paid off your car and now aren’t pouring $200 a month into its payment. Move all or a portion of that money into your retirement account each month.

  1. Learn About the Tax Benefits of Retirement Savings

Did you know that any money you put into your 401K or IRA is non-taxable income?

It’s true! If you make $50,000 per year but put $10,000 into your 401K, you technically only made $40,000 that year.

That can have awesome implications on which tax bracket you fall into and how much you need to pay in taxes.

  1. Don’t Withdraw Early

It can be tempting to get your hands on that retirement investing money you’ve been saving up. Fight the urge.

If you withdraw from your retirement account for the wrong reasons too early, you could face hefty penalties which can result in the loss of a significant portion of your retirement savings.

  1. Learn About Expense Ratios

When you invest in products that are managed by 3rd parties (mutual funds for example) the person who is actively managing your portfolio takes a portion of your earnings as their fee. While expense ratios are a natural part of hands-off investing, some firms charge a lot more than others.

Vanguard is an investment firm that’s well regarded and is known to have the lowest expense ratios in the industry!

  1. Stay Cognizant of Inflation

Whatever you invest in for retirement, you’ll want to make sure that the returns you’re getting are outpacing inflation.

For the uninitiated inflation is a term used to describe the always rising cost of goods and services. If your retirement savings is growing at a rate that’s pacing behind the rate of inflation, you’re not really making money.

The best way to combat inflation with your recruitment portfolio is to keep your investments diversified and ensure you’re taking calculated risks.

To learn more about how to create a great retirement investing portfolio, read information on stock sites like Bloomberg or check out 10 minute millionaire.

  1. Reduce Your Portfolio’s Risk As You Reach Retirement

The stock market goes up and down during any given year. Why people still love it is because, from a macro perspective, the market always trends upwards.

That being said, if it’s time to retire and you pull out your money during a down year, you could lose thousands.

To mitigate the risk of that happening, be sure that your investment manager is reducing the risk of your retirement portfolio as you get close to retirement age.

  1. Understand the Value of a Dollar

Every dollar you spend on yourself today could have been worth multiple times its current value if you had put it into your retirement account.

For example, if you’re spending $8.00 5 days a week eating out for lunch, that’s almost $2000 per year. If you had instead brought lunch from home and invested those $2000.00 per year in your retirement, at a modest 7% average return over 50 years your total $100,000 investment would have turned into $869,971.00.

That simple example shows you the power of investing in your retirement and why you can’t afford to miss out.

Wrapping Up Retirement Investing Secrets to Ensure You’ll Have Enough Money

We’ve just outlined 10 retirement investing secrets that we believe will skyrocket your wealth and secure your life post-employment. Take our tips to heart and we promise you that your life will look vastly different 20-45 years from now.

Want more of the best information you can find on money online? If so, check out additional “get rich” content on More Than Finances today!