Next Global Currency

What is money?  Is it gold? Is it is bank notes? Is it even real?

Throughout time currency has taken the form of salt, stone and gold coins eventually leading up to what we now recognise today as an stablished currency.   Although constantly evolving in form, it has always represented our global perception of worth and acts as an intermediary for exchange as a globally recognised store of value.  For more info on how it. has evolved, checkout the video at the end of this blog by OpenLearn.  But what guarantees its robustness and measure of worth? With its evolution overtime, how can we be sure that it has reached its final form?  Surely it is naive depend on our current currency to stick around forever and close out minds to the possibility of another evolution in finance.  We must question what can hold worth, and ask ourselves what is in store for the future of money?

 

The issue with paper money despite being regulated and controlled, it can be reprinted and loose value with inflation.  Credit and other non-physical stores of cash can be hacked, and also loses value with inflation.  This is where bitcoin is differentiated.  It is in categorical limited supply, it is a digitised, decentralised (no one owns or controls price) store of worth.  Arguably it is still subject to a degree of bad behaviour, but nobody can print it or manipulate it.

No one can guarantee what the future will hold, however it is up to each of us to prepare for it. Money is simply worth what we believe it is worth, so we must choose to invest in what we believe to be the strongest, most robust hold of worth.  

I look forward to your future engagement with me on my blogging journey, please feel free to drop a comment below and stay tuned for my updates!

Revenue Without Risk

 

Smart investments aren’t the only way to make money with crypto currencies. People who know their stocks make big money by investing, but furthermore, they also profit by sharing their knowledge and experience and guiding other investors.  

Investor have multi-channel revenue systems providing them with income and facilitating their trades. What channels do they use? Here’s a list of just some examples: 

1.    Analytics Research Groups

Providing signal subscriptions

much like eToro’s  ‘copy trades’ feature we spoke about earlier, traders can set up their own version of this to notify traders exactly when and where to move their money but by doing this through a private channel, they can charge subscribers a fee for their services.  To check out an example of this head to elevate crypto currently.

2.    CreatingVideos

Using video sharing sites like YouTube, traders can make videos about market updates or general walk-though videos and if they build up enough traction and a wide audience they could land themselves a sponsorship deal with an affiliate link, or collect ad revenue by allowing ads before or during their videos.  Some streaming sites even provide revenue to content creators just for making their videos (depending on number of views and subscriber count) For more details on this check out the video below by BRIGHT SIDE.  This will then provide them with another profitable revenue stream. 

3. Self-Investment

Another stream is simply just using their knowledge on themselves and reinvesting their revenue into the markets.  

.   I look forward to your future engagement with me on my blogging journey, please feel free to drop a comment below and stay tuned for my updates!

Risk Management

Risk.  In life it really is inevitable, so we best accept it and learn how to minimise it.  Investing can be a good method of making yourself more comfortable taking risks in broader life, and is good practice to help you understand potential costs and benefits of decisions.  Trading can be very daunting, but keeping these three simple precautions in mind will help you manage your risk when investing in volatile markets:

1.    Only invest what you can afford to lose .  

Higher investments can mean higher potential returns, but it also means you have more to lose if things don’t go to plan and so its vital to ensure that you're still financially stable should things go south.

2.    Only take calculated risks.  

This will turn you from a gambler into an investor.  Research your potential investments and their markets or get advice from someone else who does.  Make sure understand all your potential outcomes when making a decision, and ask yourself if the potential payoff is worth the possible costs.  

3.    Manage your FOMO. 

As easy as it is to just throw your money into rising stocks, be patient and find out why they are rising and if/when they are expected to come crashing back down before you start moving any money around.  The same goes if one of your investments is deteriorating in profit.  Understand it can be normal for markets to make small adjustments that don’t always require a reaction before you immediately pull your money out.  Many people fall into a trap of trading with a form of inherent emotion desperate for something to happen rather than trading strategically.

Remember the words of Warren Buffet: “The stock market is a wonderfully efficient mechanism for transferring wealth from the impatient to the patient”.  

I look forward to your future engagement with me on my blogging journey, please feel free to drop a comment below and stay tuned for my updates!

Choosing a Trading Platform

When you’ve decided to bite the bullet and give this whole trading thing a shot, I cannot recommend eToro highly enough. It’s in a sense, a household entry platform. For a first time trader like me it really was the platform to go to, and let me explain why.

Investing your money is very daunting, but eToro offers the option of experimenting using a virtual portfolio before you invest any actual money.  This allows you to familiarise yourself with the platform while also getting familiar with markets.  I used this virtual portfolio to trial potential strategies. I invested in some big companies like amazon and apple, and dabbled with cryptos like XRP and bitcoin.  Luckily, this was only my virtual portfolio because it wasn’t very successful.  I had made loss because I had no idea what I was investing in or when I should be moving my money around. 

eToro website with virtual and real portfolio options

That why when I invested my actual money,  I took a different approach.  I invested in cryptos that were expected to make serious market moves in the near future, and the rest I used to copy traders with high annual return rates (information which is available on eToro). Copying traders is a really helpful tool which proportionately splits your investment into the same trades your trader has open and removes them when they remove theirs (copies their movements with your money).  

Another perk that should be noted is their app which is super easy to access and navigate, giving you the freedom to keep an eye on markets and trades while out and about.

However, eToro is not for everyone.  If you feel you have the hang of things and are comfortable with a more wholesale and efficient (but arguably less user friendly) experience, have a look at platforms like bybit, bitfinex or Binance.

I look forward to your future engagement with me on my blogging journey, please stay tuned for my updates!

Cryptos - A Brief Introduction

Hi there and welcome to the first of a series of posts about the crypto currency market.  I’ll be posting some basic information and recommendations mixed with a dash of my personal experiences and mistakes (or learning curves as I prefer to acknowledge them), to aid and prepare you for your crypto trading experience.

Bitcoin.  Everyone has heard of it but few entirely understand what it actually is or how it is used.  Well when it comes down to it bitcoin is just one of many crypto currencies in the market (be it the most important), used as a financial medium to secure transactions and verify the transfer of assets.   It is a digitised, decentralised store of value –  in a sense you could think of it as digital gold.  But it's not just Bitcoin you should be aware of, there are many crypto currencies worthy of attention including Ripple, Ethereum, Chainlink and EOS just to name a few.  To get a fuller understanding of what they are and why they were first introduced, check out this video by Blockgeeks: 

After understanding what they are and their potential uses, it still may not be entirely clear why so many individuals are wanting to get involved, well here are three big reasons:  

1. FOMO - fear of missing out
2. a belief in crypto (specifically Bitcoin) as the next generation in global currency (the HODLers)
3. measured trading and speculation

You may identify one of these points as the basis of why you want to get to know more about cryptos.  For me, it started as FOMO and subsequently changed to a long term mentality - HODLing.   When I started investing almost two years ago, I wanted to be part of the action, know what was going on, but primarily (if we’re being honest here), I wanted to make money. 

I look forward to your future engagement with me on my blogging journey, please stay tuned for my updates!