Showing posts with label Finance. Show all posts
Showing posts with label Finance. Show all posts

Now the bitcoin is not just a marketing gimmick. It is estimated that more than 80,000 businesses are already on the cryptocurrency. There is a large number of the benefits of using bitcoin apart from the payment system. One of the primary advantages of bitcoin is that it has over the traditional banks which allow international payments to go through without the worry of currency conversions. Along with these advantages the bitcoin possesses various more.

Benefits of Bitcoin

Although Bitcoin and other kinds of cryptocurrency show various types of advantages over traditional fund transfer. Here in this post, we are going to discuss some benefits of the bitcoins which are 

Lower The Risk of Fraud For Buyers

All the transaction through the bitcoin & cryptocurrency without divulging any sensitive financial information such as credit card or debit card details to the seller. Hence it offers you some protection over the credit card or debit card.
Bitcoin act like digital cash which can't be intercepted by the hacker in any possible manner. At the same time, your identity is also protected for good. 

Low Risk Of Inflation

With the use of bitcoin, there are zero risks of inflation which generally occurs when the Government issues more money over the year, reducing the purchasing power of the people, on the whole. 

Decreases the transaction fees

The transaction fees for the bitcoin and other cryptocurrencies are comparatively lower than the transaction made through the credit card & debit card. This feature of the bitcoin makes its favorite for the small business ventures.

Easy to use in all situation

If you are concern about international transportation, then bitcoin is one of the best. All you need to do is memory stick & you are sorted enough for the job.
You can even use the same currency in the various country without going to the pain of contacting the local bank for currency conversions.

Don't require the involvement of the third party

The whole process of the cryptocurrency is peer to peer. It doesn't need the participation of any third party. Hence it can not be stolen even no one can freeze, tax or claim your coin.

Quick Payment

Payment is made credit card or debit card can be blocked for a long time even for a week in that case you may have to pay some extra charge, but this doesn't happen with that transaction which is done by the bitcoin. Hence you can simple says that bitcoin is much faster in comparison to the conventional credit or debit card settlements.

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If you are in the business sector, then you must know that currency fluctuation happens without any advanced notification. It could so happen that the currency rates might go up or down. As currency rates fluctuate, it is important that you make some necessary decision to get the best currency exchange rates.

Be Thorough With Your Research: Good currency exchange rates sites are always updated keeping in mind the new currency values of every country. If you are going travelling, then you could see when you would get the highest rate for your amount. You could accordingly take out money. For this, you should visit and research every online site available that is respectable and has good ratings. 

Look Out For The Total Cost: When you are going for online currency exchange programs, you have to pay a certain amount. The amount you would get in exchange for your own currency to the one you want, add credit card bills, delivery charges, and such extra costs. Some companies would ask you to give a commission for exchanging the money, while some would ask you to pay delivery charges. 

If you are paying by credit cards to avail the benefits of currency exchange, your card company might ask you to pay some fine while some currency converter site would ask you to give delivery charges. However, if you go there and pick it up for yourself you would be able to avoid it. 

You Could Easily Lock Your Rate: The moment you save some kind of money and put it into currency converter, it would remain as it is. It means that if you have given the money at a certain time when the currency rate was at its highest but later on it had fluctuated and gone down. However, you do not have to worry about it because then you would get the value of money under which you have applied or saved. Thus, this currency converter is very simple to use and handle.

You Could Get Back Your Leftover Currency: When you apply for currency exchange rates, you know you would get the amount which is equivalent to the amount where you are going or buying. Suppose, you are going for a tour and you save some money. You use the amount required to complete your whole tour yet some money is still left. 

You could easily get back the amount in your own currency without any hassle. This way you would not lose out the value of your currency and you would only spend the money you have too. You could also do everything online which is very reliable, easy and simple to use.     

Currency exchange rates change at any time. You have to be prepared for any kind of fluctuation. Businessmen usually take the help of currency converter to get an idea as to how to buy things and sell them at a higher rate to earn a bigger profit. helps you make a profit by giving you the exact amount that is equivalent to the amount you have applied for in exchange for the other currency. It is quick, efficient and very effortless to use.  

Financial planning is something that supports people in the achievement of their financial goals on a large scale. Letting your money lie idle in the savings account is a financial hazard in the long run. It is important for an individual to consider investment options that have higher returns than the savings account to ensure wealth generation out of surplus income. Provident Funds or PFs are one of the most trusted investment options in India. This is so as they offer the account holder a long-term investment option and gives stable returns. This option is selected by the individuals mainly for planning a safe retirement and getting a regular pension. 
The biggest drawback of Public Provident Funds is that the lock-in period is extensive and the returns are lower than other investment options in the market like Fixed Deposits. You can always switch to better investment options like FDs for getting higher interest and hence accumulating more wealth. The withdrawal from Provident Fund (PF) can be made, but you have to abide by following rules: 
1. If a time period of 7 years has passed since the opening of a PPF account, you can make partial withdrawals with an upper limit of 50% of the total amount. 
2. There is no need to provide a reason for partial withdrawals once the lock-in period of 7 years is complete. 
3. You can make a partial withdrawal only once in a year. 
4. The complete closure of the account is not allowed before a period of 15 years is complete. The account can be closed before 15 years only if the account holder is dead. 
The premature closure can be made by the account holder, but there are penalties included. The penalties can be borne by an account holder if the next option that the investments are made in drives more returns. Investments in FD can prove to be a very smart decision especially when you have to generate returns on a big amount. The companies like Bajaj Finance provide fixed deposit options at lucrative interest rates and ensures that you get the highest returns in the market. The growth of money will be fast and more once the money is invested in a fixed deposit. Let us take a quick look at the benefits that you can get on corporate fixed deposits like the one offered by Bajaj Finance: 
1. The returns in Fixed Deposits are free of market risks and are yet higher than other safe investments. 
2. There is flexibility in terms of tenor for which you wish to lock your money, and hence no long-term commitments are mandatory. 
3.  The fixed deposits(FD) account can be opened with a minimum of 25,000 INR which is an affordable bet against the high returns. 
4. The interest rates are highest in the market, and they can be more lucrative if the account holder is a senior citizen. 
The planning of one’s income should be done in such a way that the savings also work hard along with the individual. These high returns that are yielded play a major role in fulfilling the long-term financial goals of a person. NBFCs like Bajaj Finance and other banks are offering fixed deposit accounts with high-interest rates that support people in fulfilling their long-term and short-term financial goals.