Should You Invest In Cryptocurrency? Here's How to Do It the Right Way

A high number of people assume that investing in cryptocurrencies is no longer an attractive option and there is a bubble about to burst. It might be true some of the top coins of the moment will dive in the coming months.
Waiting in the wings though are several coins which have been developed to put right the problems that are associated with Bitcoin, Ethereum,and the other early front-runners.
When you look at the increases of the significant coins have made over the past twelve months should you trust something that can rise in value by that higher margin?
It would have been better to invest one or two years ago, or even five years ago when things were just starting. If that had been the case as many people did you could be sat on the beach somewhere with no need to read this article.
Invest In Cryptocurrency
There is still so much potential in all the other coins which are coming to the crypto marketplace even Litecoin has not yet reached its full potential.
Before anyone begins investing in crypto of any description, they have to be aware that they can be highly volatile and in the near future anything can happen. To a certain degree they are unregulated,and with this hanging, over theirhead, there is a small chance that they could be outlawed, the is why you need a financial back up plan.
There is also the chance that an exchange where you have funds gets hacked and yours along with every other investor’s cryptocurrency gets stolen, or if you lose your wallet key.

The Reasoning behind Investing in Cryptos and Why not.

There are three reasons anyone should invest in a cryptocurrency these are as follows:

  • You wish to hedge your bets against the fall of the dollar
  • You support the social role that cryptocurrencies will play
  • You understand the technology and like the concept

The reasons not to invest are:

  • The FOMO effect – the Fear of Missing Out

How to choose Which Cryptocurrencies to Build Your Portfolio

BTC was seen as the only crypto to invest in, and to a certain extent, LTC was recognized as the next big coin. To a certain extent, some of your investment should be in Bitcoins as most other currencies are traded against this. For this reason alone for the near future, it is not going to vanish or should not lose all its value.
As this coin has lost some of its dominant standing in the market, other coins are creeping up in the rankings and taking market share. To build a good portfolio of altcoins is the hard part.
The first way to see the value of a coin is to check its market capital. This should only be used as a guideline that the currency is healthy and not as a basis to make an investment.
When choosing any coin, you need to see the value they bring to businesses and end users. Also the problems they are aiming to solve. A few things to check when doing your homework are as follows:

  • A transparent technical vision
  • And active development team
  • A lively and vibrant community

Cryptocurrencies and How to Buy Them

The first thing you need to find is “Where can I buy cryptocurrency” that deal in the coins you have decided to invest in. Not all exchanges trade in smaller altcoins.
Secondly, you need a secure way of storing them which would be your wallet. A cold storage wallet is highly advised as then you can keep everything safe offline.
An exchange in your home country is highly advised as you have some recall if things go wrong.
Once you have a wallet and have signed up to an exchange where you are able to purchase your coins from (you should already have a BTC account which is funded), you have to decide the best time to invest.
If a coin is crashing, you should wait until it bottoms out. Catching anything that is falling can be costly.
A little advice here would be not to compare a cryptocurrency bubble with a conventionalbubble.
If a coin is up 10 to 20 percent, this is common for daily activity. A bubble might come witha coin being up 100% yet over the past we have seen figures of 1000% being the bubble point. All this is hypothetical as no one knows until it pops.
Second advice is to observe. You should never buy at the sign of a dip as these are often followed by another. You should also not rush to buy any coin at the thought it could explode. You have to do your homework before you decide.
It is the same when deciding to sell. Don’t sell too early as you think the price will crash, you are after all investing for the long term.

Storing Your Altcoins

As mentioned you need a wallet for your coins, yet if you invest in many you might not have a choice but to leave them on the exchange. Times are changing,and it all depends on the altcoins you invest in for where you can store them.

Which Coins to Invest in and Why?

When looking which cryptocurrency to invest in the first to check is NEO. This coin is known as the Chinese-Ethereum which brings a new algorithm.
This algorithm changes the proof of work/stake and uses the Delegated Byzantine Fault Tolerance algorithm which works by consensus. It can also work across multiple Blockchains and brings decentralized storage as a service on the network.
Second up is the pick of the pack. Skycoin will transform the internet and bring Net Neutrality back to the users from the hands of the ISP’s. This it is able to do when it works with its mesh network (Skywire) that is powered by dedicated nodes.
These are the equivalent of the mining rigs for conventional coins. SKY has no mining so transactions can be performed in seconds rather than creating a backlog on the network and the Blockchain.
Although it is still to enter the mainstream, it will bring a new internet and change how we connect and use the internet it also brings some of the highest security for the coin and also for the users who use the Skywire network.
Lastly is Cardano which is not a new coin. It is open sourced like many other coins and based on the Blockchain. It was also created by the co-founder of ETH.
This coin brings smart contracts in a much-enhanced form and a new proof of stake method. It also aims to bring more functionality to end users.
It can be a good investment, yet it still follows in the footsteps of the current leaders rather than introducing something new like Skywire and the coin very closely linked to it.

7 Steps for Creating a Financial Backup Plan

Life never runs out of surprises, be it good or bad. That’s why you need to have a financial backup plan that will help you weather any storm.
You may be the most disciplined person when it comes to sticking to a budget and saving a portion of your income every month, but unexpected events may occur that can render you in financial ruins, especially if you don’t have a plan B.
Creating a Financial Backup Plan
Here are the steps you need to take to create a financial backup plan that will prepare you for the future.

  • Track your Current Expenses

Before anything else, it’s important for you to know how much you need on a daily or monthly basis. Evaluate your current and future financial situation.
How much do you currently spend every month? Separate your expenses into categories to easily visualize which ones you can trim down to lessen your expenses. This will also help you determine the amount you need each month versus the amount you want to spend including leisure activities.

  • Predict Future Expenses

If you have children, the amount you’re spending now will not be the same in the coming years. You may need more or less depending on the age of your child, so predict expenses for the future to know if your current income is sufficient to accommodate your family’s future needs.
Future additional expenses may include your child’s education, wedding expenses, or if you plan to give them a car. If your child will soon go off on their own and you don’t need to pay for the expenses mentioned above, then you may need less in the future, giving you more money to place in your retirement fund.

  • Consider the Possible Scenarios

Let’s say your plan A is to retire at the age of 60, with all your children and loved ones independent of your financial support. You’ve calculated your financial situation, and you know that when that year comes, you will have enough to get you through the rest of your life.
However, you need to take into consideration that unexpected events such as natural disasters, accidents, severe illness in the family, job loss, economic slowdown, lawsuits, divorce, and other tragedies can occur and render you in financial ruins when you’re unprepared.
Are you insured? Do you have a retirement fund and an emergency fund to help you cope with such events? Is it enough? Write down the backup plan for each situation.
Once you’ve tracked your expenses properly and outlined your family’s future expenses; you know how much you and your family need every month. Calculate how long you can survive with your emergency fund should a disaster occur.

  • Get Insured and Understand your Insurance Policy

If you’re not insured yet, then it’s time to start looking for an insurance plan that will cover your particular needs. Make sure you have an insurance plan that can cover you, your family, your vehicles, your properties, and your health.
Memorize the important details in your insurance policy. Ensure that your family members know who to call when an emergency arises, and you need to claim your insurance.

  • Evaluate your Current Financial Situation

Audit yourself and make an inventory of your possessions. What assets do you have? How much is your net worth? Look through your closet and assess your valuables—from real estate properties, cars, jewelry, designer items, and other valuable items that can be resold. Organize them and keep a list of your assets.
This will be helpful for you especially if you think that if a tragedy occurs, your emergency fund will not be enough. Should that happen, you know exactly which item to sell to a friend or an online pawning site. You may be surprised by how much you can get from your jewelry or designer handbags.

  • Complete the Paperwork

Getting all the paperwork in order may be a tedious task, but it’s something you shouldn’t put off, especially if you have dependents counting on you.
Make sure that should anything happen to you, your family members know where the documents are. This includes your will, property deeds or titles, insurance policies, bank books, and the like. Consult with an attorney or a professional if you find it too daunting.

  • Practice Good Financial Habits

Achieving financial independence takes a lot of discipline, and bad financial habits will not help you build an emergency and retirement fund.
Good financial habits you need to develop may include saving a portion of your salary, living within your means, avoiding unnecessary expenses, and tracking your expenses.
When you practice good financial habits, you can develop the financial discipline that will largely contribute to your financial success in the long run.
Every person has their own goals and dreams in life, with individual financial plans and strategies. Nonetheless, it’s important for everyone to know and understand their financial situation to be able to create appropriate financial plans.
While your ultimate dream is your plan A, you should also make sure that you have a plan B (and maybe even a plan C) so that you’re prepared for anything.
Break your bad financial habits now and ensure that you have a backup plan that won’t leave you in financial ruin.

How can you Trust Forex Signals

Naturally, as humans, we like to achieve optimal results with minimal effort. This also rings true when trading forex. If there are any ways of achieving good or better trading results with little effort and preferably little expense, then we naturally tend to lean towards these options. Particularly if these options mean that we can avoid making costly mistakes ourselves.
Forex signals potentially provide just that. A good forex signal provider can provide you with sound information enabling you to make profitable trades with little effort. However, these can come at a cost.
Forex Signals
The majority of novice traders, and may be not so novice, traders will usually look for signal provider through a google search, which are free or very cheap. They will be reluctant to pay for an expensive, premium service, especially if they don’t quite understand it. However, as with most things in t he world you get what you pay for. Good, free services are extremely difficult to find for anything and that includes forex signals. The important point here is that even if the signal is free, the trading that you do on the back on that signal could is more likely to more a losing trade and therefore cost you money.
The other point to keep in mind regarding costs, is at the other end of the spectrum. If you slash out too much on trading signals and your trading costs are very large, then even if your trades are winning trades, they may not cover your trading costs.
Rather than searching on google for free forex signal providers, a better approach would be to go on forums. Once you have identified a provider, which comes highly recommended, with a good six months of evidence, approach the provider for a free trial period. Most reputable forex signal providers will be willing for you to test the product before committing.
Finally, whilst signals can be extremely useful you shouldn’t rely on them at the expenses of learning yourself. Trading forex is hard work and there are no shortcuts. There is nothing wrong with using forex signals in your trading strategy, however these should be secondary to your own analysis.
Trading Forex is not easy. Some brokers such as Vantage FX provide a good educational programme for traders to learn through. This includes webinars, seminars and online resources. Learning to trade is a long process which requires patience, however with the help of a supportive broker you can turn yourself into a profitable trader.

Funding For Your Business – What Can You Do?

It doesn’t matter what sector you are in, how much experience you have or how good your idea is, creating a successful business is exciting but it’s also a huge amount of hard work. The potential rewards can be great, however it’s a mammoth task. So, what can you do to increase your chances of success? Getting started is not easy. You have to plan, plan and plan, not to mention have enough cash to get the ball rolling. Cash is king and if you don’t have a healthy flow throughout your business, it will only end in trouble. Keeping cash is essentially important, as it is the lifeblood of any business; ensuring that you plan and save can keep you out of trouble. In terms of creating funding and aiding cash flow, there are some very effective tactics you can put into place to ease things along.
Whether you’re starting a new business or are already running one, having a reliable trustworthy accountant can be hugely beneficial for the business. They can offer advice on what sort of organisation your business needs to be (a sole trader, partnership or limited company) and provide good advice about taxation. Accountants can also relieve some of the workload on a business especially if you are a relatively new entity. Your accountant can also do all the necessary bookkeeping for certain records and tell you the correct places where your company needs to be registered. This can allow business owners to focus on their usual job and day to day running of the business.
Funding For Your Business
There are plenty of funding options available. Here are top ways to fund your business.

Self-Funding, Friends and Family

One of the more common practices for starting a new business is self-funding. Dipping into long term personal savings, or selling assets to raise funds is what a lot of new business owners do. A lot of business save for years, working on a tight budget to put enough into a fund for their dream job.
An alternative, is finding equity from either friends or family. This can work well in some ways, as you are borrowing money from a trustworthy reliable source who you have a positive relationship with. However, with so many businesses ultimately failing, it can be a huge risk involving people close to you.
The loss of this capital can be devastating to friends or family, who in some cases could even be relying on you financially for results. If you are to involve friends or family, it’s essential to make them aware of the possible risks and any possible losses.

Angel Investors

These are usually business entrepreneurs, willing to take risks and invest money into new businesses. Angel investors have more recently begun forming groups, so they can spread the risks of their investments as well as to gather more resources and research. Most angel investors need a lot of persuading and the hard part sometimes can just be getting sat down in front of them. There can also be more pressure through this form of investment than others. Angel investors are always looking to see where they can get their money back, they are always looking for a get out if things go wrong. This form of investments also means that as a business owner, you would have to give up part of your company. Sacrificing any part of a business is always difficult and although you can gain a significant investment, in the long run you could end up losing more.


Having a partner can not only be a brilliant source of funding for a business, it can also be hugely helpful with the running of the business. A partner can aid you with planning, budgeting accounting and the day to day aspects of the business, however, sometimes it can be hard for new owners to relinquish control. Partnerships can be hard to maintain though, as the initial business owner, compromising on your own ideas can be difficult and can lead you down a different path, which you believe might not be right for the business. Strategic partners can help aid your business by passing on eventual work. If they are in the same sector and run a mutually beneficial business, you can make recommendations for one another and effectively feed each other business.

Invoice Financing

For B2B businesses invoice financing is a fantastic option, but unfortunately not enough businesses know about it, or know that it can be available to new start-ups. Invoice financing effectively allows you to raise finance based on the value of your invoices. If your funds are low, but you have lots of unpaid invoices that your waiting on, a factoring company can advance a percentage of the invoices. This can give you those extra funds which you might need to boost your cash flow further.
During the process of factoring, the factoring company effectively manages your ledger and collects your outstanding invoices for you. They will take their fees, before returning you any residual balance. One of the biggest benefits of factoring, is not only the additional funds that come your way, but also the time it can give business owners. Instead of collecting invoices from late paying clients, you can focus on other aspects of the business.

Bank Loan

Bank loans are perhaps the most traditional and well-known form of business funding. Banks have maintained that they are willing to loan, however, they have tightened up their criteria. If you have a viable business plan, with a solid idea and plenty of potential there’s no reason you shouldn’t be able to get a bank loan. Even if your business is going through a bit of trouble cash flow wise and you have had to pay a large cost, if the bank recognises that the business can work, you can still get funding via a loan. However, it’s not always the most viable solution to an emergency problem.
If you are unfamiliar with the process, applying for a bank loan can be a stressful procedure. It requires a lot of admin work and planning. If your business is experiencing difficulties during this time it can make the application even more stressful. Most banks usually require two years’ worth of company accounts. If you are a new start up and unable to supply these accounts, banks will normally require security against your assets.

Commercial Finance Broker

If you are unsure about the best methods to raise funds, then just like with asset financing, a commercial finance broker could be the best way forward. If you require a bank loan, or need invoice financing, they can find the most viable option for you. If your idea is brilliant, but you’re not totally confident when it comes to finances, a broker can give you that boost when it comes to securing money for the business. In a similar fashion, if you are looking for an investor or partner (rather than borrow money) to grow your business a broker can often help find a suitable investor.

Who Is Responsible For An Injured Worker In NSW And How To Mitigate The Risks?

All employers have a broad range of responsibilities towards their employees. The most important ones include ensuring the safety of the workers while at work. It is their job to ensure that workplaces accidents don’t happen by eliminating any such hazards that might result in one.
According to statistics reported by Safe Work Australia, 182 workers lost their lives after being injured at the workplace in 2016. Though the number might not seem much, thousands of reported and sometimes unreported workplace injuries occur every year, leaving both the worker and the employer at loss. Employers have to pay worker compensation whereas the employee or worker suffers in terms of lost time and physical discomfort for several months following the injury.
injured worker

Are workplace injuries always the employer’s fault?

Workplace accidents happen all the time. As long s the injury happens in the course of an employee conducting their normal and expected work activities, the employer is likely to be held responsible. Sometimes accidents occur due to worker’s negligence despite being warned or informed about the nature of the work. In some cases it may not be 100% clear whether  the injury caused is 100%  the fault of the employer. In NSW, where there is an air of uncertainty as to who is 100% responsible, it is worth consulting with  worker compensation lawyers in NSW.
Regardless an employee can always put forward a claim for approval, and if an employer fails to follow through and process the claim in a timely manner, they can face legal liabilities and pay fines. Even if the accident occurred because of the worker’s fault, the employer will still have to pay the medical bills since they occurred on the working premise during working hours.

Workplace Injury Hazards

Talking of hazards, it is pivotal that we take note of the most common workplace hazards that result in an injury or illness. This will help us understand the risks involved and how these can be prevented in the next section of this article.

  • Infectious diseases and biological hazards: This category involves virus like the Hendra virus and conditions like legionella.
  • Exposure to harmful chemical substances: This includes coming in contact with hazardous chemicals, asbestos and dangerous goods etc.
  • Manual task hazards: Manual task hazards includes injuries due to manual labour that exceeds beyond one’s ability to carry
  • Physical hazards: This can include injuries caused due to confined spaces, equipment failure, electrical faults etc.
  • Environmental hazards: This involves injuries caused by excessive noise, poor lighting, uneven flooring, extreme cold or heat, poor air quality etc.

How to Mitigate the Risks?

Most of the injuries aforementioned can be prevented if the employers take the following risks and ensure that all the rules and regulations regarding safety at work are followed by all workers. Risks can be managed easily if:

  1. The hazards are identified immediately and reported. For instance, if a worker notices any electrical hazards, they should immediately inform the management and have electrical cable floor covers placed for safety. Thus, the chances of electrocutions and power outage can be minimized.
  2. Control measures are introduced. Control measures include the introduction of meaningful safety gears and information related to injury prevention. Such controls can be initiated during seminars and training sessions where workers are advice on how to use technology to its best use without injuring themselves, how they should always put on their safety gear first when working in risky environments and how they should immediately report any discrepancies without delay etc.
  3. Controls are reviewed. The only way one can evaluate the effect of the controls put into practice is by reviewing the change it brings. Have the new controls resulted in fewer injuries at work? Has it made the worker more productive etc?

A more detailed elaboration of the liabilities an employer can face due to workplace accidents is available in the Equal Opportunity Act 2010. What responsibilities lie on the employers concerning the provisions of safe and fair working conditions is available in a documented form in the Occupational Health and Safety Act 2004.

How To Bounce Back From A Holiday Overspending

Right at the beginning of a new year, post all the celebrations, you realise how excessively you’ve spent during the holidays. It is definitely that time of the year where one finds out the precise size of their splurge when the credit card bill arrives.
Holiday season is that time of the year, which can put people off balance and sometimes they tend to go way past the budget they set for themselves. It is safe to say, this happens to all of us including the ones who are most financially restrained. At some point in our lives we all have overspent and anyone who says otherwise probably isn’t being honest or they have mastered the art of money management.
Just because you have spent too much it does not mean that you are doomed and penniless forever. All you need to do is understand the current financial situation and adapt accordingly with your needs. Cut down on your expenses and learn to spend only when you need to. To help you bounce back from the holiday spending we have listed few simple methods; follow these and make the most of it.
Holiday Overspending

Face The Fact

Do not panic! If you went overboard with spending, then face the problem instead of going into panic mode. Print out your credit card statements and look where you spent most of your money. Start by taking a look at what were your biggest splurges and later deal with spendings during the holidays; note if they were of complete utility or not. The following exercise will let you know whether or not your spending was worth it.
It will also show you where not to spend in case you have spent on unnecessary items. Restrain yourself from feeling overwhelmed because that won’t help you from tackling the problem and you will be knee deep in debt. Plan a strategy that will help you in paying off   debt and bring your financial status under control.

Pay Only For Your Needs

To stop spending on things that are not a major requirement is one way to start with your cash diet. Saving money helps you to focus on what you have and not on the endless list of what you want. When you go on a cash diet, you are saving money, which can be further used to pay off your debt.
While it may sound simple, an important step is to curtail unnecessary spending. Put yourself on a financial diet and try not to spend money on non-essential items until you catch up on any extra debt you incurred during the holidays.
Using coupons and comparison shopping for essential items and cutting extra expenses, can really make a big difference in your monthly budget. In fact, simple lifestyle changes can help you save thousands of dollars over the course of year. People prefer examples over theories, so follow the example given below to get started with your cash diet.
For instance, avoid going all berserk behind the latest trend. Do not run to buy the pair of shoe you just saw in a magazine because if you take a good look in your closet their might be pairs of shoes you have barely used. So, learn to invest only in things that you need and make this your mantra.
Saying “NO” to restaurants is another way to cut down on unnecessary expenses. Avoiding eating at restaurants will help you to not spending frivolously; and you will be surprised to see that the exorbitant amounts you save yearly by not eating outside.
Ask yourself if you really need to eat at restaurants every now and then. Instead spend time rummaging through the cabinets and prepare a great meal at home without spending too much money on outside food. Keep some ready–to-cook cans of food in the kitchen because during cash crunch, it might make sense to eat soup.
Start making coffee at home instead of stopping by at your favourite café every morning. Switch to using reusable bottles and bring your lunch to work rather than ordering from restaurants. These might seem like minor savings, but by making these changes you will surely end up saving a good chunk of money every year.
Make sure you have the cable or mobile phone bill plan that gives the most bang for your buck. These monthly recurring expenditures must be reviewed, only then will you be able to determine whether you really need unlimited text messages or those endless channels. Remember your mantra must be to pay for your need and thus, modify your plans accordingly.
Of course we’ve heard many people tell us how they cannot cut off their expenses from their leisure activities and it is simply not possible. Well, why not take advantage of free leisure activities?
Instead of fine dining and bar hopping, choose to invite your friends’ home for dinner. Visit an art exhibit or museum and maybe even go for hiking instead of attending fancy activities that require you to buy a ticket.
Get involved in local events where you can spend time volunteering and being part of activities around. Well, like they say it promises you of countless rewards, so why not try being a volunteer? Oh! Please do not skip on taking advantage of free concerts or outdoor movies in the summer. 

Use Tax Returns And Holiday Bonuses Wisely

Holiday bonuses and tax returns are two larger lump sums of money and if used wisely one can generate savings and clear debts. Gather tax documents and figure out if you have a refund from the government, if yes then file your tax return as fast as you can. Be smart when it comes to taxes, especially if you are involved into business, know all your taxes.
If you are getting holiday bonuses then ensure that you take full advantage by putting it towards credit card debt or using it to save for next year’s holiday expenses. This extra earned money is a gateway to pay off debt and boost your credit score to help meet your goals. Remember that this is not free money to spend, but money to pay debts and to save. 

Earn More

To clear all your debts or to have enough savings, you can always try to earn more. Besides the everyday job, dedicate your time to earn a few extra dollars. There are plenty of ways to earn a few extra dollars, from doing some volunteering tasks at events to dog walking and maybe even babysitting over weekends.
If you do not wish to be physically present for the job then opt for freelancing work that can be done from home and as per your convenience. Look at the bright side; the more time you spend working extra hours, the less time you have to spend money. 

Evaluate Credit Cards And Credit Score

In case you are using a credit card, be wise and make sure that you are not overusing it and paying the money on time. It is advised to eliminate credit cards with annual fees. Be spontaneous and incorporate more reward cards into your wallet, so that you can take advantage of the points you accumulate with it.
Take a close look at your credit score so you understand the baseline of where you stand and how your credit may have been affected by your holiday spending. Make sure that your credit report is accurate, essentially during the time of major use. Learn to maintain a good credit score as that will support your future investments.
Do not forget to set realistic deadlines to meet your financial stability! Follow these simple rules and measure and even before you realise it, you will have paid off all your debt and bounced right back on the stable financial bandwagon!