Cryptocurrencies Intelligence is at the intersection of Money, Health, and Happiness. Smart financial decisions boost more than your bottom line—they will make you healthier and happier too! Are you one of the 90% of people who are stressed about money? If so, you know it can take its toll on every part of your life. Financial health, physical health and happiness are profoundly interconnected. It is almost impossible to enjoy any one of these without the help of the other two. Learning about cryptocurrencies will teach you a powerful values-based approach to achieving your most important life goals. As you read through this article to improve your financial intelligence and well-being, you will discover how the service of experts to trade in forex could earn you cryptocurrencies and fuel your physical and emotional well-being. Let start by discussing the recent upsurge of Bitcoin.
Bitcoin has taken over the cryptocurrency market. It is the largest and most well-known digital currency today. Many large companies are accepting Bitcoin as a legitimate source of funds.There are a growing number of businesses and individuals using Bitcoin. This includes brick-and-mortar businesses like restaurants, apartments, and law firms, as well as popular online services. Bitcoin transactions are secure, irreversible, and do not contain customers’ sensitive or personal information. This protects merchants from losses caused by fraud or fraudulent chargebacks.
What is Bitcoin?
Bitcoin is a digital currency created in January 2009. The identity of the person or people who created the technology is still a mystery. Bitcoin offers lower transaction fees than traditional online payment mechanisms and is operated by a decentralised authority, unlike government-issued currencies.
The story of digital currencies is like when electronic banking first started at the beginning of this century. Many people were very sceptical as electronic banking has nearly displaced physical cash and transactions. The pioneers of the digital currencies are cashing in on the continuous rise of bitcoinwhich peaked to $15kin 2018for One Bitcoin and has enjoyed a steady growth since the beginning of 2020 averaging $11k for the company.
Crypto-Assets are now legal in Nigeria.According to the nation’s chief financial watchdog, Nigeria will treat cryptocurrencies and token offerings such Bitcoinas forms of security until proven otherwise.In a Securities and Exchange Commission (SEC) statement signed on the 14th September 2020, all crypto assets will fall under the regulation that covers securities exchanges and transactions on exchanges.
Why build your financial intelligence in Crypto?
Recent rises in the value of Bitcoin have established cryptocurrency as a viable investment which – with the positive hype surrounding the blockchain technology that backs it up – can have a positive impact on the wallets and trading practices of mainstream investors, worldwide.
Finjan, a technology blogging company committed to investing in innovation, advancing the development of new technologies while promoting the value of Intellectual Property rights described the positive aspects and advantages of cryptocurrency as a workable alternative to more established forms of financial tradeto include:
Transactions: In traditional business dealings, brokers, agents, and legal representatives can add significant complication and expense to what should otherwise be a straightforward transaction. Thereare paperworks, brokerage fees, commissions, and any number of other special conditions which may apply. Whereas cryptocurrency transactions are one-to-one affairs, taking place on a peer-to-peer networking structure that makes “cutting out the middleman” a standard practice. This leads to greater clarity in establishing audit trails, less confusion over who should pay what to whom, and greater accountability, in that the two parties involved in a transaction each know who they are.
Asset Transfers: One financial analyst has described the cryptocurrency blockchain as resembling a “large property rights database,” which can on one level be used to execute and enforce two-party contracts on commodities like automobiles or real estate. But the blockchain cryptocurrency ecosystem may also be used to facilitate specialist modes of transfer.For example, cryptocurrency contracts can be designed to add third party approvals, refer to external facts, or be completed at a specified date or time in the future. And since you as the cryptocurrency holder have exclusive governance of your account, this minimises the time and expense involved in making asset transfers.
More Confidential Transactions: Under cash/credit systems, your entire transaction history may become a reference document for the bank or credit agency involved, each time you make a transaction. At the simplest level, this might involve a check on your account balances, to ensure that sufficient funds are available. For more complex or business-critical transactions, a more thorough examination of your financial history might be required.Another one of the great advantages of cryptocurrency is that each transaction made is a unique exchange between two parties, the terms of which may be negotiated and agreed in each case. What is more, the exchange of information is done on a “push” basis, whereby you can transmit exactly what you wish to send to the recipient – and nothing besides that. This guards the privacy of your financial history and protects you from the threat of account or identity theft, which is greater under the traditional system, where your information may be exposed at any point in the transaction chain.
Transaction Fees: There is no doubt you read your monthly account statements from the bank or credit card company, and balked at the level of fees imposed for writing checks, transferring funds, or breathing in the general direction of the finance houses involved. Transaction fees can take a significant bite out of your assets – especially if you are performing a lot of transactions in a month.Since the data miners (remote and separate computer systems) that do the number crunching which generates Bitcoin and other cryptocurrencies receive their compensation from the cryptocurrency network involved, transaction fees usually do not apply.There may be some external fees involved if you engage the services of a third-party management service to maintain your cryptocurrency wallet, but anotheradvantage of cryptocurrency is that they are still likely to be much less than the transaction charges incurred by traditional financial systems.
Greater Access to Credit: Digital data transfer and the internet are the media facilitating the exchange in cryptocurrencies. So, these services are potentially available to anyone who has a viable data connection, some knowledge of the cryptocurrency networks on offer, and a ready access to their relevant websites and portals. It is estimated that there are currently 2.2 billion individuals globally who have access to the Internet or mobile phones, but do not currently have access to traditional systems of banking or exchange. The cryptocurrencyecosystem holds the potential to make asset transfer and transaction processing available to this vast market of willing consumers – once the required infrastructure (digital and regulatory) is put in place.
Easier International Trade: Though largely unrecognised as legal tender on national levels at present, cryptocurrencies by their very nature are not subject to exchange rates, interest rates, transactions charges, or other levies imposed by a specific country.And using the peer-to-peer mechanism of the blockchain technology, cross-border transfers and transactions may be conducted without complications over currency exchange fluctuations, and the like.
Individual Ownership: In a traditional banking or credit card system, you effectively turn stewardship of your funds over to a third party that can exercise the power of life or death over your assets. Accounts may be closed without notice for infringements of a financial institution’s Terms of Service – requiring you as the account holder to jump through hoops to get yourself back into the system.Perhaps the greatest of all advantages of cryptocurrency is that unless you have delegated management of your wallet over to a third party service, you are the sole owner of the corresponding private and public encryption keys that make up your cryptocurrency network identity or address.
Adaptability: There are currently over 1200 unique cryptocurrencies or altcoins in circulation worldwide. Many are quite ephemeral, but a significant proportion have been created for specific use cases that illustrate the flexibility of the cryptocurrency phenomenon.For example, there are “privacy coins” which help mask your identity on the blockchain, and supply chain tokens which can facilitate supply chain operations for various types of industries.
Strong Security: Once a cryptocurrency transfer has been authorised, it cannot be reversed as in the case of the “charge-back” transactions allowed by credit card companies. This is a hedge against fraud which requires a specific agreement to be made between a buyer and seller regarding refunds in the event of a mistake or returns policy. The strong encryption techniques employed throughout the distributed ledger (blockchain) and cryptocurrencytransaction processes are a safeguard against fraud and account tampering, and guarantors of consumer privacy.
With all these benefits of crypto most people are still oblivious of it or how to go about obtaining it. This is the motivation of this article to create timely awareness, expose you to team of experts with the right technology to navigate the complex world of forex learning and trading.
How can you start getting Bitcoin?
The awareness of the benefits and prospects of cryptocurrencies might enthuse you to want to start collecting it. Hence a platform has been developed by CashFXwith much more than an online forex learning centre. Cash Forex has combined academic learning with real Forex success with their Trade Contracts. CFX members may choose to participate in the CFX automated trading platform and benefit from all CFX trade technology while progressing through their Trade Academy packs curriculum. Learning at your own pace has never been so rewarding, as you can learn while progressing.
The Foreign Exchange market or Forex (FX) is a global decentralized financial market where the world’s fiat currencies are traded and it is the largest, most liquid global financial market. In 2019, the daily FX volume reached USD $5.3 Trillion daily average, according to data from the Bank for International Settlements (BIS). Forex traders make basic purchases and sales transactions to take positions on currency pairs. The foreign exchange market is open 24-hours a day on weekdays and forex trading takes place on many exchanges across the world.
The CFX group gives ordinary people the opportunity to learn about Fiat currency trading while they earn Bitcoinin cryptocurrency. Your knowledge of the familiar fiat money trading can be executed through their platform and your achievements will build you the transferable skills that could be adapted into trading in cryptocurrencies you have acquired.
Sam Abayomi Soyombo, a pioneering member of the Penpusher, has setup information resource website to create awareness, understanding, develop financial intelligenceneeded to build your confidence to function effectively in the complex world of Forex. Soyombo anAceTrader,said that Forex Trading has just got a lot easier with Cash Forex Group. The $5 trillion a day forex attracts millions of people with a shared dream of financial freedom. Cash Forex Group is artfully combining the technical expertise required for forex success, with a dedicated corporate team, state-of-the-art headquarters, and a passion for helping those with a strong desire to improve their lives.
For more information about how you could have the ultimate CashFX Group with a safe starting point to build your financial intelligence contact Sam Abayomi Soyombo.