Pros And Cons Of Cryptocurrency

pexels-photo-730557

There are several advantages of cryptocurrency. However, there are certain disadvantages of this new form of digital money that you should know about. In this article, I have explained the various pros and cons of cryptocurrency which will help you decide if investing in cryptocurrency is the right thing for you.

Pros and cons of Cryptocurrency

Pros:

1. Transparency

Let’s take bitcoin to illustrate this point. Bitcoin transactions are monitored on blockchain. Once a transaction gets complete and gets recorded in the public ledger, it cannot be altered. These transactions can be verified by anyone and anytime. But, nobody can manipulate it in any way.

2. Protection from identity theft

The transaction of digital currencies is completely under your control. The transactions are independent of the identities of the persons/parties making them. This keeps the transaction safe and protects the user from identity theft.

3. Portability

Physical money is traceable. This is not the case with cryptocurrency. Cryptocurrency is easily transportable without detection. You can easily carry billions of Bitcoin dollars with you in person using a memory drive.

Cons:

1. Market fluctuations

Cryptocurrencies can be subject to market fluctuations. You need to understand that the market prices keep on changing. Check this website to know about the changes in market prices of cryptocurrencies. You can also check the latest coin listings on exchanges through this website.

2. Not so popular

Not everyone knows about cryptocurrencies. Even if some people know about it, they do not understand how it works. Because of this, people are mistrustful of this new form of currency. This is the reason why there are only a few businesses which accept payment in the form of bitcoin or other cryptocurrencies.

3. Cannot be recovered

One of the biggest disadvantages of cryptocurrency is that once it is lost, it cannot be recovered. Unlike banks, which gets your money back in case of stolen credit card or hacking, lost digital coins cannot be retrieved.

4. Untraceability

Transactions made through bitcoins or other cryptocurrencies are virtually untraceable. This makes it a good source for criminals to make transactions without the risk of getting traced. This is the reason why cryptocurrency is banned in some countries.

So, having gone through all the pros and cons of cryptocurrency, do you think the pros outweigh the cons? In my opinion, it depends on your purpose of use. If you are thinking about using cryptocurrencies for your daily transactions, it is not worth it. However, if your intention is to stay invested, cryptocurrency is a great option.

I hope you found this article useful and informative. If you want to know more about cryptocurrency, blockchain or online investments, let me know in the comment section below. Also, let me know your suggestions and questions about the pros and cons of cryptocurrency. Share your tips with me if you have any. I will be glad to get in touch with you. To show your support, share this post with your friends on social media and elsewhere. Thank you very much for reading.

Benefits Of Using A Financial Calculator

photo-1511376868136-742c0de8c9a8

Almost everyone I know wants to lead a life free of any kind of financial instability. When asked the question about what kind of lifestyle they want to live now and during the later stages of their life, most people tend to get into thinking mode. Making the right decisions is really important to enjoy the kind of lifestyle you wish for. There is a deep connection between your finances and your lifestyle.

Lifestyle & Finance

When you do not have the disposable amount, you are less likely to live the lifestyle you have dreamt of. While the concept of lifestyle could be different for different people, one thing that remains common is that you will need enough money to lead a decent lifestyle. With a well-planned finance for your business and personal life, you can keep track of your finances, cut down the unnecessary expenses and figure out the perfect way to make use of your money.

Financial Calculator

You must be thinking what’s the connection between all of this and financial calculators. Well, there definitely is a relation between financial calculators and determining or planning your lifestyle. Financial calculators help you learn and determine a lot about how you want your investment to be. It will give you the estimated figures you can earn from your investment. Thus, it is a great resource for future earning projections. Also with the help of these calculators, you can easily calculate your interest rates and your premiums that you need to pay up every month. Most of these financial calculators give you the exact numbers within seconds. This is a great alternative to calculating all your financial requirements manually. It will save you a lot of time and effort which you can use for other important things.

There are many other benefits of using a financial calculator. You can use these to calculate your business accounts or to figure out how much returns you will get when you invest in a particular stock or bond. All in all, this is a great way to keep track of your finances. With the proper use of this calculator, you will be able to achieve a phenomenal financial growth.

Conclusion

Financial calculators are great for your business and financial needs. This will help you determine the outcome of your business and your investments so that you live the lifestyle you desire for. There are many different financial calculators designed for different purposes. Here is a financial calculator that is specifically used for calculating VAT(Value Added Tax) in the United Kingdom. This is a very useful calculator for businesses in the United Kingdom. It helps them calculate the VAT contained within a total amount or the VAT charged on a net amount.

I hope you found this post useful and informative. If you have any queries or suggestions related to this post, please drop your comments in the comment section below.  I would be glad to help you out. To show your support, share this post with your friends on social media and elsewhere.

Thank you very much for reading!

What Are Mutual Funds?

mutual-funds

One of the best ways to use your money is to make your money work for you. By making your money work for you, you will become wealthy over time. There are a lot of investment opportunities out there. The key is to figure out which one is the right one for your financial situation. This article explains about one of the most popular investment options in India – Mutual Funds.

What are Mutual Funds?

Mutual funds are professionally managed investment pools that show the performance of financial instruments like stocks, bonds, and shares. These are systemized by an advisory body for the purpose of offering the fund’s shareholders a specified investment goal.

Through Mutual funds, investors can buy the shares of stocks of different companies. Usually, the value of these mutual funds are calculated once a day and that is based on what the fund’s current NAV (Net Asset Value) is.

Under a mutual fund scheme, the AMC (Asset Management Company) pools together money from investors and invests it on behalf of the group in accordance with a stated set of objectives.

Mutual funds raise the money by selling shares of the fund to the public. This money is then used to purchase various investment vehicles such as stocks, bonds, and other money market instruments.

How to choose Mutual Funds?

A common criterion that most investors use to scale their investments in mutual funds is the performance of the mutual fund scheme in the past. Some even follow the suggestion of friends or colleagues to choose mutual funds. Others like to follow financial magazines and other similar sources to support their choice of mutual funds. While using these methods can lead one to selecting a quality fund, they can also lead you in the wrong direction and make you wonder what you did wrong.

The past performance of a mutual fund scheme is a good indicator of the fund. However, it does not guarantee that those funds will perform well in the present time or the future. When picking mutual funds, you have to rely on the fund manager. Therefore, researching him/her is a good idea. The fund is only as good as the one who is in charge of it. Therefore, make it a point to do a detailed analysis of the fund manager and study how he has handled the funds in the past and how the funds are performing currently. When you base your investment decisions on this factor, you are likely to invest in the right mutual funds. Take a look at this list of the top mutual funds in India at topmutual.in. You will also find information about other investment options in this website.

I hope you found this post useful and informative. If you have any queries or suggestions related to this post, please drop your comments in the comment section below.  I would be glad to help you out. To show your support, share this post with your friends on social media and elsewhere.

Thank you very much for reading!

Harmonized Sales Tax in Ontario

hst

Harmonized Sales Tax 

Harmonized Sales Tax was introduced in the Ontario province of Canada on July 1st, 2010. The Harmonized Sales Tax has combined the Goods and Services Tax (GST) and the Provincial Sales Tax (PST). The resultant tax is an HST of 13 %. While a lot of people supported this tax system, there were others who were against this and disapproved of this new tax system.

The HST was announced by the Ontario government in the 2009 budget. The economic recession forced the government to look for new ways to bring in investments and create new jobs. This was the major reason for the implementation of HST. They believed that this new form of tax had the potential to increase the province’s competitiveness. The previous tax system was unfair to the businesses because of the implementation of taxes at every step in the production, distribution and retail phases. The implementation of HST has improved the competitiveness of Ontario’s businesses by refunding sales tax on most business inputs. This has effectively removed hidden taxes from the system and hence lowered the cost of doing business in Ontario. This has also led to more savings, more jobs, higher incomes and increased investments in the province. As of now, HST has been implemented in five provinces in Canada – Ontario, New Brunswick, Newfoundland and Labrador, Nova Scotia and Prince Edward Island.

Response from the public

In spite of all the advantages of this system, not everyone supported the implementation of HST. One of the major reasons for opposing this tax system was that some items which previously had low tax rates were being taxed heavily in the HST regime. Some of these items include gasoline, electricity, heating fuels, real estate, tobacco, personal services and professional services. In spite of all the oppositions by a certain section of the public, HST has been successful in improving the economic scenario of the Canadian provinces where they were introduced.

HST calculator

To benefit out of the HST system, you will need to have a better understanding of the system. Besides understanding HST, you will have to know how to calculate HST. If you do not have the time to learn the process of HST calculation, you can take help. There are a lot of online resources available today that can help you calculate the HST of a product/service based on the province. Use an online HST calculator for calculating HST for any Canadian province where Harmonized Sales Tax is used. This will not only save your time, but you will be assured that you get accurate results on the calculations. An online HST calculator is designed to perform HST calculations easily. This is helpful for businesses, especially the small and medium-sized businesses in the HST influenced provinces of Canada.

I hope you found this post useful and informative. If you have any queries or suggestions related to this post, please drop your comments in the comment section below.  I would be glad to help you out. To show your support, share this post with your friends on Social media and elsewhere.

Thank you very much for reading!

Goods and Services Tax In India

gst-in-india

Goods and Services is a system of indirect taxation in India which has merged most of the indirect taxes into a single system of taxation. It was introduced by the Constitution (One hundred and first amendment) Act, 2016.

Features of GST:

  1. It is one indirect tax for the whole nation which has made India one unified market.
  2. GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer.
  3. GST has been introduced in the country after thirteen years since it was first introduced in the report of the Kelkar task force of the indirect taxes.

GST stands for Goods and Services Tax levied by the government in an attempt to replace all of the indirect taxes. The main idea behind introducing GST was to improve the economy of the nation. It was implemented with the belief that a single undivided Indian market would strengthen the economy and make the nation powerful.

The previous indirect tax system in India was complicated because there were various types of taxes that were charged by the Central and the State Governments on Goods and Services. These taxes included Entertainment Tax for watching films, Value Added Tax (VAT) for purchasing goods and services by the consumer. Other taxes included Excise Duties, Import Duties, Luxury Tax, Central Sales Tax, Entry Tax and Service Tax.

These are the taxes subsumed at the Central level:

  1. Central Excise Duty
  2. Additional Excise Duty
  3. Service Tax
  4. Additional Custom Duty
  5. Special Additional Duty

These are the taxes subsumed the State level:

  1. State Value Added Tax/Sales Tax
  2. Entertainment Tax
  3. Luxury Tax
  4. Purchase Tax
  5. Entry Tax

To reduce the burden of tax on common man of the country, the Government of India came up with the idea of Goods and Services Tax in the budget session of 2008. After various discussions about the provisions of the proposed law in the Lok Sabha, the final amendment (122nd) bill was passed in the Rajya Sabha.

GST is broadly classified into two categories – Central GST and State GST. There are four different slabs for The Goods and Services Tax, ranging from 5% to 28%.

Advantages of GST Bill:

  1. The tax structure has been made simple and transparent.
  2. It has simplified the seamless movement of goods across states and reduced the transportation costs of businesses.
  3. Lower tax burden has translated into lower prices of goods for consumers.

There are 160 countries in the world where GST has been implemented. Some of the popular countries being Australia, Canada, Germany, Japan, to name a few. India, being the latest to join the list, needs to get accustomed to it. Many businesses in India are still trying to understand the application of GST. Here is a website that makes GST calculation in India simple.

I hope you found this post useful and informative. If you have any queries or suggestions related to this post, please drop your comments in the comment section below. I would be glad to help you out. To show your support, share this post with your friends on Social media and elsewhere.

Thank you very much for reading!

How To Grow Rich Using Mutual Funds

How To Grow Rich Using Mutual Funds

Everybody wants to be successful and earn a lot of money. While everyone cannot build a big company, there are certain options that can bring in a good amount of income to help you afford a lavish lifestyle. We all save money throughout our life for our future safety and to fulfill our future needs. However, saving is not the best option for fulfilment of our needs. Savings on our bank accounts do not provide huge returns. But, investments in mutual funds can generate the required profit from the money that has been put into them.

It is very common hearing our elders say that it is very tough earning money and it takes an entire lifetime to gather a decent amount of money. Well, it was true back then. However, with the coming of mutual funds, there has been an easier way to invest and grow your wealth easily. Given below are some important points that can help you multiply your money manifolds:

  1. Increase investments through a systematic process:

One of the most prefered investing method today is the systematic investment method which lets you invest at regular duration over a period of time. You have to be very consistent in adding up to your investments. Investing a lump sum amount may not give you the benefits of the good and bad times of the market and you may not be able to garner maximum returns from your investments. Therefore, to get the maximum benefits from your investments, it is better to invest through monthly SIP in your selected mutual fund scheme.

  1. Keep your focus on long-term financial goals:

Mutual funds provide you various schemes to choose from. These investments enable you to invest in long-term as well as short-term schemes. However, the benefits from short-term mutual fund schemes are not the same as long-term mutual fund schemes. Therefore, it is advisable to invest over a long-term spell as it will help you get maximum benefits from your investments.

  1. Manage your cash inflow and outflow:

Having a cash surplus is one of the most important factors that determine the amount you can afford to invest. The cash surplus can be calculated by subtracting the inflow of capital from the outflow. When the balance remains positive, then you have that much amount left for investment. When the balance is negative, that shows your borrowings. You are capable of investing in mutual funds only when you have an extra cash surplus. Therefore, it is very important to manage your income and expenses in a way that will leave you some unused amount for investing at the right place through mutual fund schemes.

  1. Monitor your investments:

Mutual fund investments provide returns during the long run. However, this doesn’t mean that you just invest and forget about it. To maintain the balance of returns, it is crucial to do a time to time review of the plans and keep track of your returns. There are online tools like the SIP Investment Calculator that can help you keep track of the returns from investments for a certain period of time.

Takeaway

Mutual funds can help you to become rich if you follow these basic points. However, it is really important to keep yourself updated with the changes in the investment sector and use online tools like SIP investment Calculator to keep track of the financial growth and make the best use of your money.