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Cryptocurrency: How to Get Into The Market of Tomorrow, Today

Cryptocurrency: How to Get Into The Market of Tomorrow, Today

Have you ever thought to yourself, “If I’d have only invested in XYZ 5 years ago, I’d be a rich man (or woman) today”? I’m sure we all have. Hindsight’s 20/20 when looking at markets we “could” have invested in. If we only had a crystal ball and could see into the future, we could see what the next big thing would be and we could get into it today and find ourselves with loads of money tomorrow. Unfortunately, most of us don’t possess a crystal ball or power of precognition. We do possess, however, the ability to look at past trends and make educated guesses about future trends. One of these trends we can look at today is cryptocurrency. Cryptocurrency is still a fairly new concept, but we can look back on one particular cryptocurrency, the first crypto-coin, BitCoin and see that the rewards of having bought into that when it came out, would have been phenomenal.

Take the creator of Bitcoin, Satoshi Nakamoto, for instance. While nobody knows exactly who this enigmatic person is (the name is a pseudonym) we do know one thing: Satoshi is probably sitting on a stash of around one million bitcoins! At the current market values, that equates to more than 500 million dollars and could reach over a billion dollars, depending on how much the Bitcoins fluctuate over the next few years.

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When Nakamoto first created Bitcoins, he wrote, “Instead of the supply changing to keep the value the same, the supply is predetermined and the value changes, as the number of users grows, the value per coin increases. It has the potential for a positive feedback loop; as users increase, the value goes up.”

This is exactly what has happened. The more people who are “getting on board” with Cryptocurrency, the greater the value of the currency. With BitCoin, that value has seen an increase of phenomenal proportions, but over the last year or so, it seems to have steadied itself to around $600 per coin. While it may see an increase, chances are it’s not going to go to $1000 again. Does that mean that you’ve “missed the boat” again?

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Is it too late to get on board?

While it may be too late to see that payload with BitCoin, the good news is that new Cryptocurrencies are coming out every day! Of course, as with any other market, some have awesome potential while others (like the infamous DogeCoin) are duds. If you do, however, find a good startup cryptocurrency and get in on the ground level, you can literally make millions off of it in a few short years! It does depend on how much you are willing to invest, of course, but even a minimal investment can yield outstanding results ‘IF’ you find the right one.

There have been many examples of successful entrepreneurs who have found viable cryptocurrency markets and turned hundreds into hundreds of thousands or millions. Such examples as Dennison Bertram who got in at the ground level of the Terracoin or Sebastian Greenwood who helped grow OneCoin are not that uncommon. These people recognized the value in the respective cryptocurrencies and got in early, and there is no reason why you cannot do the same!

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How can I get in on this?

If you check the current market values of the various cryptocurrencies available, you can browse through the various markets and make an educated decision on which ones may be winners. Of course, as with any market (especially one as volatile as cryptocurrency), you are taking a risk. You may see little to no return on your investment. On the other hand, you may see a tremendous return on your investment. One key component that may help you to succeed in cryptocurrency is diversification. Move your money around a little. Try putting a small amount of investment in several of the upcoming cryptocurrency markets and keep an eye on which ones seem to be growing quickly and which may be stagnating. You can then move your investments around until you find a winner.

Of course, you CAN invest in more standard markets like foreign exchange and stocks and bonds, and still make some money. But if you really want to play the game and see fantastic returns on minimal investments, you’ll find that with cryptocurrency, the sky’s the limit!

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Erick Clifford

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Published on July 4, 2018

Top 10 Recommendations on Money Management Apps

Top 10 Recommendations on Money Management Apps

Don’t want to overspend your budget, swipe your credit card too many times, and feel like a financial mess? Instead of beating yourself up for the bad financial decisions you’ve ever made, create a new plan!

The solution is simple, save more and spend less. But, we all know it’s easier said than done.

One problem is finding quality apps that save you time and money, and aren’t just hype.

Luckily, there’re many great money management apps available at your fingertips. Here are 10 reliable money management apps that can help you save money, and crush debt.

1. Personal Capital

    When was the last time you’ve tracked your net worth? Probably months ago or maybe never. Personal Capital allows you to easily track your net worth and plan for retirement.

    Here are some of its main features:

    • Sync many investment accounts, and expenses (mortgage, credit cards, etc.) in one place
    • Discover hidden fees and how much they’re affecting your retirement plan
    • Wealth management for investors requiring a long-term strategy

    With Personal you’re free to track your expenses and net worth.

    Available for: iOS and Android

    2. Mint

      If your smartphone could only install a few apps, Mint would be one of them. Why? Because Mint tracks all your balances and bills in one place.

      Here are some of its main features:

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      • Effortlessly track all your bills and balances in one dashboard
      • Categorized expenses to understand where you spend your money
      • Uncover hidden fees, and determine your investment style with sophisticated retirement tools.

      Feel at ease with managing your money by a reputable company that isn’t going anywhere.

      Available for: iOS and Android

      3. YNAB

        Everyone needs a budget, there’s no way around it. YNAB (You Need A Budget) is an easy to use app that will change the way you think about money. Their motto is to “give every dollar a job”, and you’ll quickly discover why.

        Here are some of its main features:

        • Easily sync all bank accounts in one place
        • Visually see your debt paying progress with eye-catching charts and notifications
        • Customized categories setting saving goals

        The best part about YNAB is the community that comes along with it. You can hop on the YNAB forum to receive support, listen to the YNAB Podcast or stay tuned for their weekly videos.

        Available for: iOS and Android

        4. Wealthfront

          Albert Einstein once said “compound interest is the eight wonder in the world”, and for a very good reason. The problem is, most people are scared or unwilling to learn the basics of investing. This is why Wealthfront is the perfect solution for the hands-off investors.

          Here are some of its main features:

          • Variety of investment account options including IRA, Roth IRA, and more
          • Your portfolio composed of 7 different asset classes
          • Automatically rebalanced portfolio
          • Daily tax loss harvesting

          Wealthfront is perfect for people requiring investment guidance, or prefer a hands-off solution.

          Available for: iOS and Android

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          5. Clarity Money

            If you’re staying on top of your budget but want to take your finances to the next level, Clarity Money can help you. Clarity Money helps you stay under budget and build a personalized savings plan.

            Here are some of its main features:

            • Easily cancel subscriptions with one click
            • Synchronize bank accounts fast
            • Transfer money effortlessly between different accounts

            Clarity Money isn’t an app that does it all. But, it does make transferring money and canceling subscriptions fast and efficient.

            Available for: iOS and Android

            6. Acorns

              What if there was a way to quickly gain confidence in investing your money, without too much risk? There is, and Acorns is your solution. With Acorns’s technology, you’re able to make investments as small as $5.

              Here are some of its main features:

              • Automatic contribution option
              • Customized portfolio tailored to your needs
              • Low management fees ranging from $1-$2 per month

              Stop wasting dollars on expensive coffee. Instead, invest them towards a brighter financial future.

              Available for: iOS and Android

              7. Albert

                Do you budget by only subtracting your expenses from your income? If so, how would you discover any overpayments or extra money you could save? This is where Albert shines, and it does it all free.

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                Here are some of its main features:

                • Receive notifications for overpayments, hidden fees, and low balances
                • An Automatic budget that’s built around your spending and income
                • Easily track debt and set new financial goals

                While Albert does offer a paid option, most of its core features are FREE. So, what better option to save?

                Available for: iOS

                8. Prism

                  Have you recently forgot to pay a bill because life got in the way? Prism automatically tracks your bills and syncs your bank accounts in one place.

                  Here are some of its main features:

                  • View all your account balances in one glance
                  • Bill due dates are automatically pulled and tracked
                  • Receive early reminders for upcoming bills

                  If your budget is on “fleek” but can’t seem to stay on top of your bills, Prism is your go-to app.

                  Available for: iOS, Android, Windows, Amazon

                  9. Mvelopes

                    Remember hearing about people using envelopes to budget their money? Well, Mvelopes is the new envelope system for this generation. Easily create monthly budgets and track your saving goals.

                    Here are some of its main features:

                    • Connect unlimited bank accounts
                    • Real-time budgeting with auto transaction syncing
                    • Low monthly $4 fee or $40 annual

                    Mvelopes can help you crush debt, save more, and help you stop overspending. With its low monthly fee, it’s worth a try.

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                    Available for: iOS and Android

                    10. Wallaby

                      Most people don’t have time to track their credit card’s changing rewards and interest rates. Because of this, you need help reaping the most of your credit card’s rewards. Wallaby is the app that will help you do just that.

                      Here are some of its main features:

                      • Automatic recommendations for the best credit card to use for each transaction
                      • A friendly user interface, displaying credit cards with their corresponding images
                      • Free to use

                      If you’re using the same credit card to make your purchases, you may be leaving money on the table. Give Wallaby a try if you’re ready to maximize your credit card’s rewards.

                      Available for: iOS and Android

                      Take control of your finances and experience financial freedom

                      Picture yourself staying on budget and saving more money than you’d ever imagined.

                      It took hard work and dedication but you’d finally learned how to manage your money. You have to start taking control of your spending and saving habits.

                      You now have a list of reliable apps that can help you build better money habits, what are you waiting for?

                      Featured photo credit: Pexels via pexels.com

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