All posts by: SCG

Keep your business afloat amid lockdown restrictions

The economic impact of COVID-19 has plunged many businesses into financial difficulties. Lockdown restrictions have prevented many organisations from trading, which means their income stream has been obliterated. In fact, many firms are questioning whether they will be able to survive the economic uncertainty they’re currently experiencing.

For sole traders and owners of SMEs, disrupted cash flow can be particularly devastating. When you don’t have a significant amount of funds to fall back on, weeks or months with limited trading options can make it difficult to survive. However, there are options available to you.

If your business has been affected by COVID-19 and the subsequent trading restrictions and lockdown rules, take a look at these potential solutions and find out how they could help you:

1. Payment holidays

The effects of COVID-19 are unprecedented in living memory and major organisations are pulling out all of the stops to accommodate their customers. As everyone is in the same boat, you won’t be the only business owner trying to stay afloat in turbulent waters.

In response to the economic difficulties many people are facing, many banks, creditors, and companies are offering payment holidays and suspending interest on accounts. If you’ve yet to explore this option, it’s worth talking to your creditors and seeing what help is available to you.

2. Business loans

Commercial business loans are always a viable source of funding for sole traders, SMEs, and even major corporations. In today’s climate, they are even more of a lifeline. While many lenders are actively making their own financial products more widely available, the government is also providing backing for business loans.

Although there has been some delay in the rollout process, you should find that you’re able to access business loans if you meet the relevant criteria. Designed to help commercial entities overcome the economic uncertainty posed by the pandemic, this could be an effective way for you to keep your business in the black until you can resume trading.

3. Personal loans

When you’re a business owner, your personal income is usually inextricably tied up with the success of your business. If your business isn’t currently turning a profit, you may be unable to take an income from it. Of course, this doesn’t mean your personal obligations will stop too. You will still have essential bills, such as your mortgage, rent, or utilities, to pay.

Obtaining a short term loan could be an appropriate way for you to manage your personal finances while the situation is on-going. With New Horizons, you can obtain short term loans in a matter of minutes and borrow up to £5,000 over a period of 3-36 months. Visit the site to obtain an instant quote. If you’re expecting trading to resume in the foreseeable future, a short term loan could give you the funding you need in the interim period and enable you to stay up to date with your own bills.

4. Modify your operations

Although many people expect lockdown restrictions to be eased within the coming weeks, it’s unlikely you’ll be able to continue operating in the same way as before the pandemic. By modifying your operations, you can adhere to the new restrictions and resume trading more quickly than if you wait until things return to normal. In all likelihood, it could take months or even years until this happens, so updating your in-house processes could be the most effective way to prepare for a post-coronavirus business landscape.

Depending on your business, you may want to offer a delivery service, as opposed to a customer collection or standard retail option. Alternatively, you may wish to increase automation to enable you to operate with fewer staff. In addition to this, you could choose to add another arm to your business and diversify into another market.

Growing your business in the midst of a crisis 

Although many business owners are concerned that the COVID-19 outbreak will ruin their company, the current difficulties don’t have to be disastrous for your business. In fact, it is possible for companies to build upon the current situation and increase their profitability during these difficult times.

There’s no doubt that your existing growth plans will have been thrown into disarray by the operational disruptions but taking the time to review them will allow you to explore new options. The lockdown measures mean that businesses and consumers are behaving differently, which gives B2B and B2C businesses the opportunity to introduce new products and services.

Furthermore, the increased demand within some industries could open the door for you to expand your business and reach brand new markets. While overcoming the current challenges may not be easy, there are various options available to you. With innovation and determination, your business can survive the current economic upheaval and even begin to thrive as a result.

5 reasons why picking the best cryptocurrency broker is the key for your success

In this post, we will reveal five reasons why picking the best cryptocurrency broker is the key for your success. According to Leftronic, about $6 billion worth of Bitcoin is traded daily. Nonetheless, there are over 3,000 altcoins. This implies that the cryptocurrency market is a lucrative one.

To sell cryptocurrencies without hassles, it is essential to make use of a cryptocurrency broker.

Who is a cryptocurrency broker?

A cryptocurrency broker is a third-party dealer or platform that pairs up buyers and sellers. Unlike the centralized cryptocurrency exchange, cryptocurrency brokers fund the seller from their network in their over-the-counter (OTC) market.

While there are several cryptocurrency brokers on the market, let’s take a look at five reasons why you need to pick the best cryptocurrency broker.

5 reasons why picking the best cryptocurrency broker is the key for your success

Listed below are the significant reasons why picking the best cryptocurrency broker is the key to your success.

  1. Time-saving

Unlike the blockchain transactions, which may take hours or even days to complete depending on the network capacity, all your cryptocurrency transactions take place within the broker’s trading platform. That way, your transactions are executed quickly in a timely fashion without hassles.

Not to mention, you are provided with the flexibility to make rapid market movements that can be beneficial for you.

  1. Easy setup

There are several issues associated with direct trading. Mostly, beginners experience problems setting up their first trades, verification procedures, and other technical crypto requirements.

Thankfully, a cryptocurrency broker can eliminate the issues by ensuring a quick setup process on their platform. Typically, they facilitate quick account setups, one-click trading features, and they have vibrant customer support.

  1. Innovative technical instruments

When trading with a crypto broker, you are provided with an array of advanced technical instruments that can protect you from making losses. The ideal best cryptocurrency broker will feature ‘stop-loss’ and ‘take profit’ tools. Likewise, they also feature advanced charting tools, which can help you to interpret the market better to make the right financial decisions when trading cryptocurrencies.

  1. Leverage opportunities

The ideal best cryptocurrency broker will facilitate leverage trading, which allows you to trade with more capital than you invest. For instance, if you have a 5:1 leverage, you only need $200 to open a trade position of $1000, and then make significant profits.

  1. Anti-fraud protection

Mostly, cryptocurrency brokers are regulated by reputable financial watchdogs such as the FCA, CySec, etc. This protects their customers from outright theft, fraud practices, and other adverse circumstances. Likewise, traders can get all or some of their money back in case the cryptocurrency broker gets bankrupted or experiences adverse scenarios.

Things to look for in the best cryptocurrency broker

Before you opt for a cryptocurrency broker of your choice, here are some critical factors that determine the best cryptocurrency broker.

  • Minimum deposit

When choosing a cryptocurrency broker, it is vital to opt for the right one that allows a low or unlimited minimum deposit. That way, you can be able to part with a sum of money that you can consider ‘un-risky.’

  • Maximum leverage

Another factor that determines the best cryptocurrency broker is the maximum leverage that they offer. According to the ESMA law, cryptocurrency brokers can offer as high as a 1:2 leverage.

  • Regulation

Financial regulations prevent corrupt practices from culminating from the cryptocurrency brokers. Mostly, cryptocurrency brokers are regulated by FCA, NFA, FSA, CFTC, CySec, and likes.

  • Security

The best cryptocurrency broker will have a secure trading platform that can guarantee the safety of your coins. Moreover, frequent data breaches are a no-go sign when considering a crypto broker.

  • Trading tools

Another criterion to consider is the trading tools that they incorporate, which will enable you to have hassle-free trading. Mostly, some of these tools allow you to predict the market and can help you to avoid making the wrong market move.

  • Customer support

Customer support is vital when picking the best cryptocurrency broker. So, you should consider a platform that offers 24/7 support that will help you to resolve issues you encounter promptly at any time of the day.

Bottom line on 5 reasons why picking the best crypto broker is essential for success

Cryptocurrency is the digital currency for both the present and the future. Moreover, it is rapidly gaining acceptance across the world. With the best cryptocurrency broker, you can easily trade your most preferred coins without hassles.

Not to mention, your transactions are securely made within a split second on their trading platform. That way, you can quickly make good profits; hence, it is essential to pick the best cryptocurrency broker as the key to your success.

Covid 19 – Business in lockdown

20-49 employee companies struggling

There are more than 80,000 SMEs employing between 20 and 49 and we are looking at the challenges they are facing since the Corona virus lockdown.

They play a key role in the UK economy in terms of employment and GDP.

Businesses       Employment    Turnover          Businesses     Employment     Turnover

1000s               1000s                 £bn                  UK                  UK                    UK

211                    4,117                   629                  4%                   15%                  15%

Let us take a look at a motor dealership employing 30. An established business with strong local support and a well-developed internet arm: it is at a standstill.

The workforce has been furloughed and this is where the first of many challenges became apparent. Sales personnel are on a basic of £13,000 a year but a couple receive £100,000 a year with commission included. Seeking HMRC guidance on whether they could be paid up to the £2500.00 a month maximum has produced no definitive answer as I write.

There is a stock of 250 motor vehicles that needs regular attention. Starting up, moving cars around so the brakes do not rust up, regular cleaning to stay presentable. Come the end of the lockdown it is highly unlikely that families, outside of those receiving regular public service salaries, are going to rush out and buy a replacement vehicle.

So the stock in trade not only is losing its value but may not be disposable when the lock down ends. More often than not there is stocking finance that needs servicing too.

A loan facility of £500,000 is available under the CBILS scheme, repayable over 5 years and charged at 3.5%. It might be a good idea to take the loan if there was a clear picture as to what lies ahead but faced with such an uncertain future, do you want to burden a family business with such a testing commitment? And what happens if you cannot meet the repayments, say two or three years into the term? Was it worth going through all of that?

Add to this consideration that tax rates will have to rise to help government refill its coffers.

Put simply, is it better folding the business right now? Nobody can force you to. Winding up orders and statutory letters of demand have been rendered void in law in respect of commercial rents owing for less than 90 days.

Business bank loans are event driven but most of those events are triggered by a positive development. Covid 19 bank loans are taken out of a desperation to survive the awful situation that has been visited upon us and will represent a burden on future liquidity, trying to make up ground that many will feel they never should have lost.

It is not in the nature of the entrepreneur to just walk away and certainly not to lose thousands in real value or sweat equity that has been accumulated over many years.

Some equity houses are circling, the parallel with vultures is unavoidable but the difference is that whereas those birds feast on corpses, the equity houses could bring a future with them: beware the terms. There is far too much highly geared debt, donning the wolf in sheep’s clothing disguise, of convertible preference shares that prove the reality once eschewing the burden of a CBLIS bank loan at 3.5%.

So where do we go?

We remember the philosophy that placed us where we were just before the Covid 19 crisis erupted. It did not happen by accident. It happened because we made the right decisions: because we faced down and overcame challenge after challenge. It happened because we are winners.

Think clearly. What are our options? How is everybody else getting by? Who that needs us must share the pain. What do I want out of life on the other side of this?

Three month’s deferrals or reduction of rent, interest charges or directors’ salaries, can make a difference. Talk to your biggest customer, it may not welcome the thought of a critical supplier being hamstrung. Talk to your stocking finance provider rather than borrowing more money to pay its interest charges.

We are all in this together. We need to work with each other to build a future on the other side. The government is keen to see employment and businesses remain robust. If it is prudent to reschedule the repayments on the bank loan if they are proving onerous undermines the original purpose of the advance, maybe this could be written into the terms.

Talk to your accountant or professional advisor before making any big decisions: the right decision is important but you can only make it based upon the facts available at the time.

3 great ways to accomplish more professionally

Do you want to accomplish more in your professional life? Maybe you’re pretty proud of what you’ve done so far, but you know you’re only scratching the surface of your potential. Perhaps you’ve been moving in the wrong direction for a little while, and you’ve decided that now is the perfect time to turn things around. Whatever the reason, making the decision to push yourself further is the first step towards reaching your targets. You already have the attitude that you need in place to accomplish great things, now all you need to do is get to work. Here are some fantastic things that you can do to reach more of your professional targets this year.

Build your strengths and overcome your weaknesses

We all have things that we’re good at, and things that we struggle with. Even if you’re an expert in your field of accounting, and know how to work with numbers in seconds, you might struggle to master communication. Part of becoming a more accomplished version of yourself is learning how to recognise your strengths and weaknesses. Start by thinking about what you’re really good at. Your strengths are the things that help you to stand out in your industry, and really capture the eye of any recruiter or employer. If possible, you’ll want to keep building on those strengths so that you can continue to compete against other people in your field. At the same time, it’s important to be aware of your weaknesses so you can begin to overcome them. Once you can come to terms with what you’re not good at, you’ll know how to overcome those concerns.

Network more often

It’s not always what you know, but who you know that helps you to move to the next level in your career. Having the right connections to people in your field, whether it’s a manager in your space, or a thought leader in your industry, can benefit you in a range of different ways. The professional connections that you make could help you to learn more about how your industry works and what it takes to become successful. You could also find that networking with other professionals just like you also helps you to stand out when you’re applying for new roles in your space.

Commit to constant learning 

Finally, committing to constant learning is something that we should all do if we want to excel in any industry. Taking out a student loan to go back to school and borrow money to achieve your goals in the long run can be a great option if you need to earn new degrees and certifications for your resume. Other options can include taking on a mentor who can teach you new things or signing up to webinars and online courses. However you decide to expand your education, you should be approaching your industry with the attitude that you can always get better and do more. No expert is ever truly finished learning about their field. Be prepared to keep growing and improving.

How to save money by switching business electricity

Every day presents a new challenge for those that are running a business. You’ve got to think about boosting sales figures, keeping costs in check, potential future opportunities to grow and how the evolving economy will affect your business plan. Most of these will give you little room to manoeuvre, especially in an uncertain economy.

Most of us will never have experienced a life changing event such as the coronavirus (COVID-19) in our lifetime. To say that the magnitude of change taking place every day is consequential would be putting it lightly. Now more than ever business owners and managers need to think about the best ways to save money by making decisions that will have the lowest negative impact on the company in the future. One of the most efficient ways to cut costs is by comparing and switching business electricity tariffs. Using an online comparison site such as Utility Saving Expert has made the process easier than ever.

We have put together this guide to help you make an informed decision when comparing commercial electricity and gas suppliers. We’ll be exploring how business energy differs from domestic plans, in addition to what types of contracts are on offer.

How is business electricity different from domestic energy? 

For many consumers, switching their home energy plan will be relatively easy to understand. Yet, when comparing and switching business electricity tariffs and/or suppliers, there’s a lot more you need to know to get a suitable deal that is right for your firm.

First and foremost, business electricity rates are comparatively cheaper to typical home rates. The main reason for this is commercial energy providers purchase their gas and electricity supply in bulk, this is to ensure that the energy will last for the duration of your contract. Even though you will be taking advantage of a lower unit rate, you will be tied to this contract for typically three plus years, making an early contract termination very expensive.

Business energy contracts for gas and/or electricity last for a longer duration of time. It doesn’t matter if you opt for a fixed-rate or variable rate tariff, as most contracts on both plans will normally run for between three and five years. You can only compare and switch suppliers once you enter the renewal period of your current contract, this will normally be in the final six months of your current deal. It may be helpful to note this date down in the company calendar or a diary.

Remember that business energy tariffs are single fuel only. This means that if you need both gas and electricity for your firm, you’ll need to compare these separately. It’s worth noting that some suppliers may be able to provide you with a discount if you buy both fuel types from them. Before you do make the switch, make sure you are satisfied with the terms and conditions, as most commercial energy contracts will not include a ‘cooling off’ period.

What business electricity contract types are available? 

Each commercial energy supplier will feature a number of different contract types. We have briefly explained the main difference between each type below to help you make an informed decision on what tariff is most suitable for your business’ needs.

Fixed term

You will be charged a set price per unit (kWh) for the duration of the contract. This does not mean that the amount you pay each month will be fixed. Your monthly cost will still be based on your consumption.

Variable-rate

You will be charged a unit rate (kWh) that is dependent on the wholesale market price. Fluctuations in wholesale pricing may increase or decrease your monthly bill.

Deemed rate

This is considered to be a business energy supplier’s most expensive tariff. If your current contract lapses and you haven’t switched or agreed a new deal with your existing supplier, you will be moved over to this tariff on a rolling basis.

Rollover

Similar to a deemed rate contract, this will be used when you haven’t agreed to new terms with your existing supplier once you are in the renewal window.

28 day

This is for businesses that have not switched since the energy market was deregulated.

How do I compare and switch business electricity suppliers?

You can easily compare commercial electricity supplier online. Before you start, make sure you have your most recent energy bill with you as this will include some useful information that you will need. Here’s how to compare and switch business energy:

  1. Visit a business energy comparison site such as Utility Saving Expert.
  2. Choose whether you want to compare commercial electricity or gas.
  3. Enter some basic information about your business, including your energy consumption (this can be found on your latest bill).
  4. You will be presented with a list of available deals from each supplier, giving you important information such as price, contract type and duration.
  5. Select the supplier and tariff that meets your business’ requirements.
  6. Confirm you’re happy and proceed to payment.

Hopefully this guide has given you the information you need to make the right purchasing decision for your company. Comparing business electricity and gas doesn’t have to be complicated. Thankfully, Utility Saving Expert has made the whole process easier than ever, saving you valuable time and money.

7 ways to make your business proposal anything but boring

After so much technological development, one thing that hasn’t changed much is the ‘traditional’ business proposal. Most still use big words and images of their staff looking like they are in a police lineup or hostage situation. In this article, I will show you 7 ways to make your proposal stand out and excite prospects into taking the next step.

1) Make it about them

It is common for business owners to only focus on the goal, instead of gathering enough information to write a convincing proposal. Businesses pay to get their problems solved. The bigger the problem, the more they are willing to pay. Before writing a proposal, I take the time to have a meeting with the prospect. With their permission, I record the conversation on my phone. I ask open questions and pay particular attention to their experiences working with other businesses. All of this information gets fed back into the proposal.

In most cases, your proposal will be discussed by multiple people. Therefore, it is important that you simplify it for them. Technical terms and latest developments might seem like general knowledge to you, but always try to view your proposal from another perspective. This isn’t an opportunity to show that you have a wide vocabulary… or own a thesaurus. Your proposal isn’t persuasive if it can’t be understood.

I like to plan my proposals using pen and paper. I know this is ‘old school’ but it makes editing a lot easier. Plus, studies show that planning on paper helps us to think more deeply. Once you finish the first draft of your proposal, read it out loud. If it doesn’t sound convincing to you, it won’t to them.

2) Please, no “War and Peace”

Proposals tend to be skim read. They are looking for something that will jump out at them, and encourage them to read the details. You can break up the text using graphics and charts. Corporate executives love data. One of my clients claps his little legs and lets out a squeal whenever he sees a pie chart. It made his job easier because he could easily explain the potential ROI to staff. You can also break up text with lists. They are easy to understand and also help to form a convincing argument. For instance, you could list the various reasons why you are the best person to work with.

Editing proposals is one of my favourite things to do. In fact, I like to revisit a draft after a day or two so that I can see it with ‘fresh eyes’. When I finally have the finished proposal, I like to read it out loud for flow.

3) Seeing is signing

Humans are visual creatures. Instead of telling them what you can do, show them. Tools like this one from Qwilr helps incorporate videos and audio into my proposals. Plus, using this tool, I can see how much of my proposal prospects read and how long they spend on each section. This has enabled me to develop them over time, so that I now get an 85% acceptance rate. Clients are more than happy to send in their testimonials in audio form.

I like to start off each proposal using video so that I can fully expand on their challenges plus solutions, and use examples to back up my points. My analytics dashboard shows that most clients finish watching the video and skip straight to the page with my fees and terms. Using tools such as Loom (free) making a video is very quick and easy.

You could be great to work with; however, first impressions are everything. Your proposal should be attractive and show your level of professionalism. Choose colours which complement your brand. There is such a thing as too many colours. You don’t want your proposal to look like a 3-year-old’s art project. Personally, I like to use no more than 3 colours throughout the proposal.

4) Show some personality

Unless your prospect has the personality of a bag of salt, they will appreciate some humour. Remember that they are humans much like yourself. Most of my clients mention that my odd sense of humour encouraged them to keep reading. Plus, it was a nice break from their corporate lives. I use the Hemingway app to check my work and aim for a 12-year-old level of understanding. As I previously mentioned, your proposal will get passed around. Therefore, it is vital that everyone understands it.

5) Give them a taste

This one thing has doubled the size of my business over the past 12 – 18 months. Just before the page with my payment terms, I produce work which gives prospective clients an idea of what I can do for them. For instance, I add the first page of a case study, breakdown their website to show how they can increase conversions, etc. You can babble on about how great you are, but giving them an idea of what you can do based on their brief… is crazy powerful. I have also noticed that since I started doing this, I face minimal price rejection.

6) Pricing and terms should make sense

Businesses don’t care that you used to knock back a cold one with Barack Obama during your times at Harvard, or how “superb” your team is. All they truly care about is a return on investment. Fast-growing companies make smart decisions with how they spend their money. Therefore, your pricing should reflect the size of the problem you are trying to fix. For instance, if they are trying to attract more customers, provide a rough idea of how many customers you can help them to attract. Then calculate the potential return on investment so that it is very clear in their minds.

Some business owners, such as freelancers, opt for hourly pricing; however, that can bring about problems down the line. For instance, business owners might argue about how long it took, or state that your hourly rate is too high. In my opinion, the time it takes to solve a problem should be none of their concern, so long as the goal is achieved. From experience, so long as you are able to explain the potential return, most clients wouldn’t accept your proposal.

7) Write an effective call-to-action

Your call-to-action should explain the advantage of working with you, and what you can deliver, and how to take the next step. Notably, after sending your proposal, it is wise to follow up. Businesses are bombarded with emails; therefore, your proposal can get buried. I use Qwilr to send out proposals; therefore, I receive an email when one is opened. I can also see how far they read. For instance, a customer who reads the pricing page for a few seconds, exits probably doesn’t like my terms. I like to follow up every 7 days for 3 weeks.

Final thoughts

I hope you found this article useful, and it helps you to win more business. Just to recap, here is a ‘Cliff Notes’ version of what I covered:

  1. Make your proposal about your client and their unique needs.
  2. Keep your proposal short and to the point.
  3. Use images, charts and videos to show what they can expect.
  4. Keep things interesting by injecting some personality. This helps to make your proposal stand out.
  5. Showcase what you are capable of, based on their brief.
  6. Aside from stating how much the project will cost, show the potential ROI. This makes accepting your proposal a ‘no-brainer’.
  7. Your call-to-action should invite them to take the next step. In one paragraph, summarise why you are unique, why they should accept and the potential return of working with you.

Bitcoins represent impressive advantages

When we talk about Bitcoin, we refer to a digital currency distributed and used electronically. This currency has a decentralized peer-to-peer network that frees both institutions and individuals from control. In practice, nobody can keep it under control, but the only thing that determines its value is the intersection of supply and demand. It is an economic system that cannot be printed, let alone become physical, but is digital and intangible.

The characteristics of bitcoin

The amount of Bitcoin is minimal; in fact, it is not possible to create more than 21 million of these titles. Satoshi Nakamoto created this digital currency several years ago, i.e., in 2019. It is not known yet if he is the only creator of this system but in reality, it would seem that he is able to obtain paternity.

So when we talk about Bitcoin, we are referring to an open-source software created by the programmer residing in Japan. In mid-2010, the project passed into the hands of Gavin Andresen, the real developer and head of the project.

What is certain is that everything has changed since then. Nowadays, it is enough to look for one of the Bitcoin-Billionaire platforms to understand how high the value of Bitcoin is and that it will probably continue to grow.

Control over Bitcoin

Bitcoins represent impressive advantages from a traditional currency point of view. In fact, there is no authority or institution capable of interfering with transactions, with exchanges of expenses or with any type of transaction for users. Bitcoin movements are very transparent and every transaction is filed in an accounting book that is known by the name of blockchain.

That’s why the Bitcoin network is very interesting because it cannot be controlled by anyone except by the intersection of supply and demand. So it is the network itself that controls the totally decentralized system. The blockchain in turn is completely secure and reliable. Every transaction is absolutely under control thanks to a token and block system.

The possibility of using it as a secure payment system over the Internet and its possible inclusion in some payment platforms show the interest that exists for this cryptocurrency that governments do not know how to regulate. If it does not become an alternative currency in common use, it can become an intermediate currency and a fast, reliable and cheap Internet payment system.

The other characteristics of Bitcoin

Other of the main advantages of cryptocurrencies lie in the fact that they do not have a commission, they can also be used by those who do not have a bank account and then it is an anonymous and absolutely secure payment system. Another interesting point is the environmental impact of this system.

In fact, thanks to the transactions made in this way, you avoid printing plastic credit cards and in addition, you save a lot on ink and paper, as well as everything you need to produce cash instead.

What happens in a Bitcoin transaction?

The mechanism under which the parties to an address operate during a transaction is called a “digital signature” and it is the same one that online banking, the Spanish electronic DNI and many other services use to verify our identity. The concept approach is really simple:

Basically, complex mathematical operations are applied to the transaction message using the private key. This gives a result that bears absolutely no resemblance to the private key, which always remains secret. The result, however, can be verified using the public address and therefore demonstrate that the owner of the private key is the one who actually issued the transaction order.

Only the knower of a private key can sign a valid message for the corresponding public address. The transaction message is then broadcast across the network and reaches the recipient who checks the validity of the signature. The rest of the network also verifies the message and includes it in the unalterable record that we discussed in the previous chapter. Once this occurs, the transaction receives a confirmation.

If the signature is invalid or an attempt is being made to spend unavailable funds, the verification and verification process would fail and the transaction would be rejected by both the beneficiary and the rest of the network.

What can Ethereum be used for?

The uses of Ethereum are multiple. Firstly, it will allow the creation and implementation of decentralized applications by developers, who will be limited only by their creativity. These applications will be designed in order to change and improve the relationships between companies and consumers.

Today, most services charge a commission for simply providing a custodial service and a network where users can offer goods and services, while the Ethereum block chain allows the origin of the product they are about to buy to be identified and ensure that the exchange is reliable and fast for both parties involved, thanks to smart contracts. The same is true of any business, industry or service that operates with Ethereum. Crypto Crash Fortune is easy way to use bitcoin transactions.

DAOs belong to people who bought a certain amount of tokens, which offer the right to vote as a contribution, but are not equivalent to shares or property.

What are the advantages of Ethereum?

Below you can read about some advantages of using the Ethereum. Its decentralization includes that there is no single point of failure possible, so all applications will always be online, without the possibility of being turned off or disconnected.

In addition, the consensus rules of your blockchain require that all the nodes that make up the network must agree to carry out changes and make decisions, thus consolidating the security and reliability of the platform. So Ethereum is easy to use bitcoin currency which is getting popularity in the market. The market value of Ethereum is growing day by day.

How to get Ether (ETH)?

Below are different ways to use Ethereum.

  • To buy

There are two ways to obtain Ether and they are: buying it or mining it. If you decide to buy Ether, markets are the most convenient way to do it. Then, you must create and configure your account where you must enter your personal data (name, surname and an email that you can access to verify your identity), you must also add the payment method of your preference, the most common are: transfers banking between both parties or transactions with a bank card that can be used to purchase ETH tokens. Your purchase will be stored in the Ethereum Mist browser, in a wallet provided by the market you have chosen or by the service of your choice.

Certainly, the entire process of buying cryptocurrencies in the markets can be difficult for those who do not know about the verification of accounts, commissions, etc.

Also, if you want to make a profit buying and selling Ether, you’ll need to buy it for its full value, which will make it difficult for you (at least initially) to earn a substantial income if your funds are currently limited. Keep in mind that being a decentralized system where no one is responsible for what happened, there have been massive thefts of wallets by hackers and, therefore, the loss of large investments that many users have made.

  • Undermine

The second way to get Ether is through mining. Today to mine Ethereum you need the Proof of Work System, better known in English as: “proof-of-work”. This system allows miners to close and verify a block of shares within the same network through complex mathematical problems, receiving in exchange a commission for each of the blocks mined.

Today, the task of mining Ethereum is not so easy. To achieve this you will have to purchase expensive equipment and video cards that allow you to earn a measurable income.

It is advisable to refrain from buying cryptocurrencies if you do not be familiar with why.

On the contrary, if learning and earning money are among your goals, you will be happy to know that now you can do it in the Ether (ETH) course that Libertex offers you. The CFD, for its acronym in English, are contracts price difference. Now, to start earning money with the course, you don’t need to buy it for the full cost. It will be enough to pay the amount of the spread (the difference in the buying and selling rates), and the rest of the income from the growth or fall of the Ether rate goes to you.

Calculating loan affordability – what lenders think about?

When considering loan affordability, it’s important for borrowers to establish how much of the loan they can afford.

Most will do this with the help of a loan calculator. Such a tool is readily available online and is extremely easy to use. When you apply for a loan, the lender has the final say when it comes to actually paying out. Most will use different factors when it comes to helping them decide whether you pose as a risk, read on to discover what these are:

How much can you afford to borrow?

An online loan calculator is a great asset to those wishing to answer the question ‘how much can I afford to borrow?’ Such a tool will reveal the payment amount, the number of payments over a certain period of time and the interest rate. Many forget about the latter, which can cause huge problems in the future.

Will a calculator tell me if I qualify for a loan?

A calculator, although an extremely handy tool, won’t tell you whether or not you qualify for a loan. This generally depends on your credit rating and how much you intend to borrow.

Credit score

All lenders will consider your credit score. If this is poor, you’ll appear unreliable. There are a number of ways to build your score prior to applying for a loan, one of which includes combining any existing debts. Lenders have their own preferred ways of checking a credit score – just because you’re disapproved by one, this doesn’t necessarily mean you’ll be refused by others too, you may even find a company specialising as a bad credit lender.

Credit reference agencies

Credit reference agencies come in the shape of companies that are allowed to retain information about various consumers’ borrowing habits. On applying for a loan or credit card, the individual wishing to borrow will be asked to fill out an application form. Such a form will give the lender permission to look over your credit reference file. If a lender refuses you due to what they see on your file, they are obliged to tell you why. Once you know the reasons you have been refused in the past, you may be able to address some of these issues to improve your chances for future applications.

 

How could a debt consolidation loan benefit you?

Debt consolidation is a little like putting all of your eggs into the one basket. It involves taking out a new loan to pay off a number of existing debts.

Advantages of debt consolidation

As with any type of loan, there are risks. There are also a number of ways a debt consolidation loan can benefit you. For example, such a style of loan often boasts a lower interest rate with lower payments as these are typically loans over 12 months in duration. Ultimately, this helps to make your overall finances and monthly outgoings far more manageable leading to less stress in your life!

You only have to think about the one loan

We live in an extremely busy world, which is why forgetting to pay a certain debt isn’t unheard of. With debt consolidation, you only ever have to think about the one repayment each month. This makes life a great deal easier – you can even set a reminder on your phone or laptop to help you to remember when to pay off your debt.

Lose the high interest rates

If you have a number of loans in place with high interest rates, such as credit cards, mortgage repayments and car loans, it could be a lot more cost-effective to pay these off as ‘one’ every month. You’re not only more likely to remember the one loan; you’ll also be avoiding high interest rates.

Better control of your finances

If you want to stay on track with your finances, then debt consolidation loans could be just the ticket. Instead of having to contend with multiple bills and confusing statements, you’ll concise all of your loans into one. You’ll only ever have to deal with one interest rate, one repayment amount and one set of loan fees.

Is debt consolidation right for me?

If your ultimate goal is to be debt-free, then a debt consolidation loan could be a great option for you. This is especially the case if you’re looking for a loan with lower rates, fewer payments and one simple bill.