Making the Best Use of the Money you have

Mаnаgіng уоur fіnаnсеѕ іѕ а соnѕtаnt сhаllеngе аt аll ѕtаgеѕ оf lіfе аnd rеquіrеѕ а dіffеrеnt аррrоасh аnd ѕtrаtеgу аt dіffеrеnt tіmеѕ іn уоur lіfе. Thеrе аrе ѕоmе bаѕіс рrіnсірlеѕ thаt уоu саn fоllоw іn оrdеr tо gеt уоu оn thе rіght trасk. Stер оnе іѕ tо tаkе оwnеrѕhір аnd соntrоl оf уоur fіnаnсіаl ѕіtuаtіоn. Thеrе іѕ nо nееd tо рut thе rеѕоlutіоn tо уоur рrоblеm оff аѕ thіѕ wіll оnlу mаkе thе ѕіtuаtіоn wоrѕе іn thе lоng run.

A gооd rulе tо gо buу іѕ thаt уоu ѕhоuld nеvеr uѕе сrеdіt tо buу соnѕumеr іtеmѕ lіkе саrѕ, сlоthіng оr vасаtіоnѕ. It іѕ іmроrtаnt tо оnlу uѕе сrеdіt tо buу thіngѕ whісh іnсrеаѕе іn vаluе оvеr tіmе ѕuсh аѕ еduсаtіоn, rеаl еѕtаtе оr а buѕіnеѕѕ. Lіnkеd tо thіѕ іѕ thе іdеѕ thаt уоu ѕhоuld оnlу uѕе сrеdіt саrdѕ fоr соnvеnіеnсе rаthеr thаn саrrуіng dеbt. Eѕресіаllу іf уоu аrе рrоnе tо іnсurrіng а lоt оf сrеdіt саrd dеbt, thеn уоu ѕhоuld gеt rіd оf уоur саrdѕ аnd uѕе оnlу саѕh, сhеquеѕ оr dеbіt саrdѕ.

Pеrhарѕ thе hаrdеѕt, but аlѕо оnе оf thе mоѕt іmроrtаnt rulеѕ іѕ thаt іt іѕ іmроrtаnt tо lіvе wіthіn уоur mеаnѕ. It іѕ ѕо еаѕу tо gеt саught uр wіth “kееріng uр wіth thе Jоnеѕ”. Thе bеhаvіоur оf соnѕрісuоuѕ соnѕumрtіоn іѕ оnе оf thе thіngѕ mоѕt lіkеlу tо lеаd tо ѕеrіоuѕ fіnаnсіаl рrоblеmѕ lіkе bаnkruрtсу. Thеrе іѕ uѕuаllу nо nееd tо trу tо bе оn раr wіth thе реорlе уоu fееl уоu саn соmраrе уоurѕеlf wіth, hаvіng уоur оwn ѕеnѕе оf ѕеlf wоrth іѕ а fаr hеаlthіеr аttіtudе.

Anоthеr gооd rulе оf thumb іѕ tо ѕаvе оr іnvеѕt 10 реrсеnt оf уоur іnсоmе. Onе оf thе bеѕt wауѕ tо dо thіѕ іѕ tо ѕеt uр а rеtіrеmеnt ѕаvіngѕ ассоunt thаt wіll еnѕurе уоur fіnаnсіаl іndереndеnсе lаtеr іn уоur lіfе. Itѕ аlѕо gооd tо thіnk аbоut hоw tо undеrѕtаnd аnd uѕе уоur еmрlоуее bеnеfіtѕ аnd іf уоu аrе ѕеlf еmрlоуеd trу tо fіnd thе bеѕt іnvеѕtmеnt аnd іnѕurаnсе орtіоnѕ fоr уоu. Tаlkіng tо а quаlіfіеd fіnаnсіаl аdvіѕоr іѕ а grеаt ѕtrаtеgу fоr hеlріng tо асhіеvе thіѕ. If уоu dо сhоѕе tо dо thіѕ, trу tо fіnd аn аdvіѕоr thаt dоеѕn’t сhаrgе оn thе bаѕіѕ оf соmmіѕѕіоnѕ. Fіnаnсіаl рrоduсtѕ wіth hіgh соmmіѕѕіоnѕ gеnеrаllу trаnѕlаtе іntо рооr реrfоrmаnсе оf thе рrоduсt.

Thе fіnаl tір wе hаvе іѕ thаt whеn уоu аrе mаkіng а рurсhаѕе trу tо rеmеmbеr thаt thеrе аrе vеrу оftеn grеаt dеаlѕ аnd bаrgаіnѕ оut thеrе fоr thоѕе оf uѕ thаt аrе рrераrеd tо dо ѕоmе rеѕеаrсh аnd nоt bе саught uр іn hаvіng thе bеѕt brаnd nаmе whеn thеrе аrе сhеареr аltеrnаtіvеѕ thаt hаvе thе ѕаmе quаlіtу but dо nоt gіvе уоu thе ѕаmе ‘іmаgе bеnеfіtѕ’.

 

 

A quick look at commercial real estate

A quick look at commercial real estate

Thе сар rаtе іѕ а vіtаl but оftеn mіѕundеrѕtооd kеу tо ѕuссеѕѕful rеаl еѕtаtе іnvеѕtіng. Whеn еvаluаtіng аn орроrtunіtу, уоur fіrѕt quеѕtіоn іѕ lіkеlу: Whаt іѕ thе сар rаtе? Tо uѕе іt wіѕеlу, hоwеvеr, іt’ѕ іmроrtаnt tо knоw whаt thе саріtаlіzаtіоn rаtе асtuаllу mеаnѕ аnd whеrе іt аddѕ vаluе.

Thе сар rаtе, ѕhоrt fоr саріtаlіzаtіоn rаtе, mеаѕurеѕ thе rаtіо bеtwееn thе fіrѕt уеаr’ѕ nеt ореrаtіng іnсоmе аnd thе рrореrtу’ѕ рurсhаѕе рrісе. Thе rаtіо іѕ еxрrеѕѕеd аѕ а реrсеntаgе аnd іnvоlvеѕ thrее vаrіаblеѕ: vаluе, іntеrеѕt rаtе реrсеntаgе, аnd nеt ореrаtіng іnсоmе. Fоr еxаmрlе, іf уоu рurсhаѕе а рrореrtу fоr $1 mіllіоn аt а 9 сар, уоu саn еxресt tо mаkе $90,000 іn nеt ореrаtіng іnсоmе wіthіn thе fіrѕt 12 mоnthѕ. Thіѕ іnvеѕtmеnt mеаѕurе tеllѕ уоu whаt реrсеntаgе оf уоur саѕh рurсhаѕе уоu саn еxресt tо еаrn bасk іn thе fіrѕt уеаr.

Thе lоwеr уоur саріtаlіzаtіоn rаtе реrсеntаgе, thе lоwеr уоur nеt ореrаtіng іnсоmе rеturn wіll bе іn thе fіrѕt уеаr. Aѕ іntеrеѕt rаtеѕ dесlіnе, іt іѕ nоt unсоmmоn tо ѕее rаtеѕ gо dоwn, but whеn іntеrеѕt rаtеѕ gо uр, rаtеѕ wіll fоllоw.

Advаntаgеѕ

Whаt іѕ thе сар rаtе bеѕt uѕеd fоr? Invеѕtоrѕ аррlу thіѕ соmmоn іnvеѕtmеnt mеаѕurе аѕ аn іnіtіаl ѕсrееnіng tо quісklу еvаluаtе, оn аn аll-саѕh bаѕіѕ, whеthеr а рrореrtу іѕ wоrth а сlоѕеr lооk. Yоu саn аlѕо uѕе іt tо furthеr сhаrасtеrіzе mаrkеtеd рrореrtіеѕ. Fоr еxаmрlе, іf уоu knоw оnlу thе rаtе аnd thе ѕаlе рrісе, уоu саn dеtеrmіnе thе nеt ореrаtіng іnсоmе. Yоu саn аlѕо рlаn уоur еxіt vаluе wіth а tеrmіnаl сар rаtе.

Pіtfаllѕ

Cар rаtеѕ аrе оnlу аѕ vаluаblе аѕ thеіr ассurасу, аnd уоu ѕhоuld bе аwаrе оf thе ѕhоrtсоmіngѕ оf thіѕ аррrоасh. Unfоrtunаtеlу, mаnу рrореrtу mаrkеtеrѕ mіѕсаlсulаtе rаtеѕ аnd іnflаtе thе іnvеѕtmеnt роtеntіаl. Mаnу іnассurаtе сар rаtеѕ, fоr іnѕtаnсе, rеѕult frоm а fаultу nеt ореrаtіng іnсоmе fіgurе. Alѕо, іt саnnоt tеll уоu ѕоmе іnfоrmаtіоn vіtаl tо еvаluаtіng аn іnvеѕtmеnt орроrtunіtу. Thіѕ соmmоn іnvеѕtmеnt mеаѕurе wоn’t rеvеаl реrfоrmаnсе аftеr thе fіrѕt уеаr оr whеthеr реорlе аrе wіllіng tо рау уоur rаtе. It аlѕо dоеѕn’t tаkе іntо ассоunt уоur tаxеѕ, dеbt, аnd trаnѕасtіоn соѕtѕ. Abоvе аll, thе wіdеѕрrеаd еrrоrѕ іn аdvеrtіѕеd fіgurеѕ mаkе іt dіffісult tо dіѕсеrn whісh аrе ассurаtе.

Yоur bеѕt dеfеnѕе іѕ tо knоw уоur tаrgеt сар rаtе, whісh іѕ а numbеr unіquе tо уоur іnvеѕtmеnt ѕіtuаtіоn bаѕеd оn уоur оwn dеbt аnd саѕh оn саѕh rеturn аѕѕumрtіоnѕ. Wеll-еѕtаblіѕhеd fоrmulаѕ саn hеlр уоu dеtеrmіnе thе rіght іnvеѕtmеnt mеаѕurе іndереndеnt оf mаrkеt trеndѕ. Bу оwnіng thе саlсulаtіоn рrосеѕѕ, уоu саn mоrе ассurаtеlу vаluе рrореrtіеѕ аnd ѕеt аррrорrіаtе еxіt саlсulаtіоnѕ.

 

 

Moving to Oz? Advice on getting your new life in Australia

Moving to Oz? Advice on getting your new life in Australia

Making the final decision to emigrate to Australia from the UK surely has been a very difficult one. But getting yourself settled in a new country is going to be yet another set of challenges. If you want to make the move a seamless, hassle-free experience, here are some helpful tips that you may follow:

On finding a property

There are many factors to consider when buying or renting a home in Australia. The city you’re in, the lifestyle you want to lead, the neighborhood, your budget, and the proximity to places of interest may directly affect your new life in Australia. The price of houses here runs at $10,000 per square meter in the major cities like Sydney. On a rough estimate, a 3-bedroom home will cost you more than a million dollars. In the suburbs, the price can go down to only $6,000 per square meter. On the other hand, if you are renting, you will need referrals, an approval from the landlord, payment for the consideration fee, and the advance deposit for the rental.

Getting a job

To find yourself a job to sustain your new life in Australia, there are many events like the Working International Expo that you can join. At such an event, different employers from the various cities of Australia converge to recruit their workforce. You may also begin searching for a job in Australia over the internet. A new job is sure to get you well started with your new life.

Buying a car

Owning a car is a strong consideration once you decide to live in Australia. Having your own set of wheels is way better than hailing the cab every time. Look for car financing on a car finance comparison site to look over the options that will work best for you. You can start shopping for a car once you have yourself settled on a nice property and has a good job to boot. Otherwise, you may settle for a car rental company, as it is the fastest way to get a car in just a few months after moving to Australia.

Applying for a bank account

Weeks before moving to Australia, you should have your Australian bank account ready, preferably the one that could facilitate your present and future budget and financing requirements. Doing this is quite easy. Simply get is a referral from your existing bank to begin the process. An Australian bank that is affiliated with your bank in the UK is sure to have an easier and quicker access to transfer funds.

Choose a school for the kids

If you’re emigrating to Australia with your family, it is important that you choose the right school for your kids well ahead of time. Be sure to pick the one that would nurture their talents, enrich their knowledge, and allow them to enjoy their new environment.

Look at our shiny new £1 coin – Due for release in 2017

We’re getting a brand spanking new £1 coin George Osbourne announced the other day. Based on the old threepenny bit it has been designed to be one of the most difficult coins in the world to fake. Whether fakers and con artists will take this as a challenge is yet to be seen. The 2 tone coin will be introduced into circulation in 2017 and aims at cutting out all the fake £1 coins that are in circulation today, thought to be around 3% in the official figures, but I reckon it’s more like 10-15%.

The coin is going to be 12 sided and it is claimed will have “banknote-strength security”, your guess is as good as mine as to what that really means. Hopefully it doesn’t mean you can rip it in 2.

A Treasury spokesman said: “After 30 years loyal service, the time is right to retire the current £1 coin, and replace it with the most secure coin in the world.

“We are particularly pleased that the coin will take a giant leap into the future, using cutting edge British technology while at the same time, paying a fitting tribute to past in the 12-sided design of the iconic Threepenny bit”.

Personally I like the idea, although it does seem like a sweetner for the recent budget which promises to take yet more money out of Joe Bloggs’ pockets.

The opposing Labour have had their little jibe by announcing that people are more concerned with how many £1 coins they actually have in their pockets, which is true, but still, cheer up Labour, look how shiny it is!

Stock Market Tips: What You Need To Know

Does owning a piece of a company sound attractive to you? If the answer is yes then you may enjoy investing in the stock market. Prior to sinking all of your resources into a stock purchase, it is important to gain a solid base of knowledge in advance. This article has that information.

Utilize an intelligent, long-term plan to help you make as much money as you possibly can from the stock market. You are likely to achieve even greater success if you keep your expectations modest instead of banking on things you cannot predict. Keep your stock for whatever time it takes to turn a profit.

Spend time observing the market before you decide which stock to buy. Before your initial investment, try studying the market as long as you can. A recommended time period to observe it would be for three years. That way, it is possible to gain a greater understanding of the ways in which the market functions, and you will stand a greater likelihood of generating profits.

It is important to know exactly what fees you will be charged when choosing an investment broker. Learn more about entry and exit fees before signing up. You’d be surprised how quickly these fees can add up.

Exercise your shareholder voting rights if you have common stocks. While each company differs, you may be able to vote for directors or for proposals that involve major changes like merging with another company. Voting takes place at the annual meeting for shareholders or via proxy voting, either through mail or email.

Only allocate a tenth or less of your investment capital into a single stock. By doing this you protect yourself from huge losses if the stock crashes.

When you’re purchasing stock, you’re really purchasing part of a larger company. It’s important that you view it this way. This makes your investment seem more tangible and you will inevitably be more careful. Carefully evaluate and analyze a business when determining the value of the stocks you have invested in. You will need time to decide whether or not to invest in certain stocks.

There are too many factors involved to try and make your money from timing the market. You will be more successful if you invest regularly and stick to a budget. Just figure out how much of your personal income you are able to invest. Make sure you continue to invest on a regular basis.

If you would like to try your hand at picking your own stocks but also want to use a professional broker as a “safety net,” look for brokers that can provide both traditional and online services. You can allow a professional to manage a portion of your money while doing your own investing with the rest. You will have a balance of professional management and personal control over your investment decisions.

Do not invest too heavily in your company’s stock. It is okay to purchase a bit of stock in your company, but be sure to diversify. Investing primarily in your own company is risky because if it falters, you may lose a great deal of money.

You can sometimes find bargains with stocks that have taken a short-term hit because of bad news. The best time to buy stock in a company is when its stock price takes a temporary tumble; as long as the downturn really is temporary, the profits can be great. If a company misses a deadline because of a temporary situation, its stock can plummet as investors flee. Some circumstances such as a financial scandal usually mean a company will never recover.

Avoid following any advice or recommendations that come from unsolicited sources. Certainly listen to your own financial advisor, especially if they hold what they recommend and are personally doing well for themselves. Ignore everyone else. There is no substitute for doing your own research and homework, especially when a lot of stock advice is being peddled by those paid to do so.

Keep in mind cash does not always equal profit. The flow of cash is vital to all financial operations, from your life to your investment portfolio. It makes sense to reinvest your earnings, as long as you keep enough cash available to cover your monthly living expenses and obligations. Keep six months of living expenses somewhere safe, just in case.

It is almost always preferable for novice traders to get into the stock market with an ordinary cash account. Marginal accounts can wait until the trader is more experienced. It is less risky to start with a cash account because the losses can be controlled. These accounts are also best for an initial education of the market.

A constrain strategy can be an effective way to select investments. This is seeking out stocks that nobody really wants. Search for value in companies that aren’t appreciated enough. You will nearly always pay the most money for the most sought after stocks. This provides you with no upside. Look for lesser known companies that has solid profits, and you are likely to find a much better investment opportunity.

Keep a sharp eye on your portfolio. Watch your portfolio closely so that you have a clear understanding of how your investments are performing. Don’t be afraid to make changes if the market isn’t working in your favor. That being said, don’t obsess over it to the point where you are checking it daily; the stock market can be extremely volatile, and seeing the various ups and downs could cause you to panic unnecessarily.

You want any stock you buy to offer good earnings in relation to what you pay for it up front. This return should be more than twice the ratio. So, if you’re looking at stock with a ten percent projected return, the PE ratio shouldn’t be more than 20.

Now that you have reviewed the many tips in this article, are you ready to carry the ideas here into the investment arena? Get ready to start your stock market trading career, then. Remember the information above and you will be buying and selling stocks in no time, without emptying the contents of your bank account.

What checks do finance companies do when you apply for a loan?

Never underestimate the importance of doing your research before applying for a loan. This includes taking the time to research facts about yourself that the finance company will eventually see. When you know what the company will look for you have an opportunity to address potential problems or even have them removed before you apply for the loan.

Whether you apply for financing through loan brokers or directly through a finance company you can be certain about two things they will look up about you. The first would be your identity; the lender needs to know they are actually giving a significant amount of money to you and not an identity thief or fraudster. The lender will also determine if you are a citizen or a permanent alien in order to determine if you will remain in the country during the life of the loan. Your Social Security number, employment status and job history will be verified as well. More importantly, your expenses and income will also be verified. If you have any additional sources of income you want the lenders to be aware of then be sure to have documentation as proof.

Your loan application may also have a set of questions regarding your gender, ethnicity and race. However, these questions are strictly voluntarily and a lender cannot force you to answer them. In fact, these questions are not mandatory in order to reduce the possibility of discrimination. However, it is perfectly allowable for a lender to ask if you have been involved in any lawsuits, property foreclosures, filed for bankruptcy or if you happen to own any notes.

Any information requested beyond these common items will likely depend on the type of loan you are trying to obtain. For example, if you are applying for a loan from the Veteran’s Association then your service record will be verified. The government makes a number of loans available for uses such as college tuition or starting a small business. These types of loans also depend on special qualifiers such as academic background or industry experience.

It is completely natural to feel a little nervous when applying for a substantial loan. With a bit of diligence on your part you can be prepared for the whole process and address any concerns from the lender. An educated applicant is better suited to identify the good deals as well as the bad ones.

Why You Should Know More about Your Partner’s Credit Woes

­­Why You Should Know More about Your Partner’s Credit Woes

Entering a new relationship can be wonderful and exciting. But it is one that comes with a huge responsibility as well, especially for two consenting adults. While it is easy to get blinded by love, it is oftentimes wise to first know more about your partner’s financial standing, especially if talks of marriage start floating in the air.

In a recent survey, 500 men and women who are living in the United Kingdom were asked about what they think are the most important factors to consider when choosing a partner. Survey showed that 80.8% of the respondents indicated personality compatibility; 56% of them considered physical appearance; and 46.8% implied age. It was very noticeable that employment (15.4%), financial stability (10.4%), income (4.8%), and a good credit score (1.4%) are the least important factors of all.

These numbers are very alarming indeed, as it is a known fact that finances is one of the biggest sources of arguments between couples. The same survey also revealed that one-third of the British population is not even aware that the money problems of their partner could affect their own.

Such were the ‘nasty surprises’ that couples refer to. Worse, they may only come out after the knot has been tied. One partner will definitely be surprised if they got turned down for a loan or a joint bank account for no apparent reason. As you can see, not knowing that your partner was under a bad debt, has bank defaults, or had declared bankruptcy previously is going to be a huge problem. The third of the British population who chose not to discuss financial affairs before marriage is the group likely to face these issues.

The tides are somewhat better in the United States, where couples tend to tackle financial issues between each other more seriously. A similar survey was conducted among American adults and almost half of the respondents affirmed discussing credit scores with their partner, regardless if the relationship is getting serious or not.

While things tend to look too rosy and almost perfect for people in love, it is also important that, at one point, couples get back on their feet and face the realities of life. And one’s finances prove to be a huge reality to face. Have a serious talk about it over a cup of coffee. Even if finances play a major role in married life, couples who are truly in love should be able to work things out nice and easy. Without the nasty surprises, no profanities will arise; and even the worst financial issues may just slide. Think about it.

Debt Consolidation: The Best Option for Clearing Credit Card Debts

Debt Consolidation: The Best Option for Clearing Credit Card Debts

There is no doubt that credit card debts are the most difficult ones to clear. This is because those plastic cards tend to charge the highest interest of all. The average annual rate of a credit card is pegged at 19.1%. And that can add as much as 48.6% to your original credit card balance if you’re not looking.

There are several options currently available right now to clear out credit card debts. For one, there’s the 0% balance transfer to another credit card. However, that option doesn’t necessarily offer the best choice. Transferring your credit card balance to yet another credit card will only work if you can pay off your balance within the period the other card company requires of you. If you fail to do that, the same interest rates will apply. Worse, you will also have to pay for the 3% transfer fee.

The best option remains to be debt consolidation. This method involves the application of a personal loan that will cover all of your credit card debts. Even if you have more than three credit cards to clear out, this method will still work.

Debt consolidation is better simply because it imposes a very low interest rate on your outstanding balance. Instead of the usual 19.1% that most credit card companies charge, you will pay as low as 4.7% for this one. For a loan amount of £6,100 paid in a span of 5 years, your balance will only accrue a total of £801.19 in interest. That is way below the £2,924 that you’ll have to pay if you use the 0% balance transfer scheme or simply stick it out with your regular credit card payments. The only other charge that you have to pay is the £100 borrowing fee.

Debt consolidation offered through a personal loan is also more flexible. You can set the loan terms so you can further decrease your monthly payments. For example, you want to pay all of your debts in a span of 5 years. The amount that you have to pay every month will be duly computed along with interest. Using the £6,100 loan as an example, all you have to pay is £116.69 monthly for 5 years, and not £156, which is the minimum payment amount of your credit card. You can define the loan term by extending it to 7 years or shortening it to 3 years, whichever suits you best.

It pays to know how the interest rate on your credit card is computed so you’ll know if you are getting anywhere on repayment. If all you can pay is the minimum monthly payment each month, consider debt consolidation seriously. With it, you can shell out the same amount and yet clear out the debt much faster, simply because it offers a much lower interest rate.

A big thank you to Zopa who researched and provided the data for this article

bitcoin-battle

Bitcoin Battle – I’m not winning

Bitcoin Battle – I’m not winning

So it seems I chose one of the strangest times to make the decision to buy my first Bitcoin. After an apparent flaw in the code and constant threats of attack from hackers, buying Bitcoin became a nightmare. The vast majority of sites, like Bittylicious and Quickbitcoin, limited the amount you could buy to 0.1 Bitcoin whilst the problems and uncertainty were resolved.

This isn’t the only barrier which has raised its ugly head in my quest to buy this illusive Bitcoin. Things aren’t so straight forward when looking to get on the Bitcoin ladder, especially if you are based outside of the USA. Here in the UK, to open an account with most of these sellers, exchanges and wallets you must also send a vast array of sensitive documents so they can verify you are actually a ‘real person’. A scanned copy of your passport, along with a utility bill all accompanied by a 5 day processing and turnaround time leads to even more frustrations for my British brothers. It is now easy to see why so many people talk about buying Bitcoin yet very few actually go ahead and fight through the red tape, which has only appeared in the last 12 months from my understanding.

Finally, it seems the vast majority of Crypto-Currencies have seen a decline in their valuations too. I am aware of the volatile nature of the market, which is partly what wets my appetite for trading, big losses or big wins, however for the beginner this is yet another reason why I probably should listen to my instincts and call it a day like all the others. But no. I will do this. I will own my very own shiny Bitcoin with sugar on top.

The fact that Bitcoin is now being accepted in new places around the world making it possible to bank in South Africa, buy a beer in Australia or even a cigar in New Mexico, my mission will continue and this only fuels the desire and belief that there is some serious money to be made on an investment level.

I am going on holiday for a week now to freshen my enthusiasm, but vow to fight another day upon my return. I’ll keep you updated.

Why i’m going to buy 1 Bitcoin

Buying my first Bitcoin

On March 1st I’m going for it. I am going to buy 1 Bitcoin. I have just spent the past day or so reading up and trying to get my head around this topsy-turvy, roller coaster, make believe, fantasy currency and I am genuinely intrigued, so much so I have decided to buy 1 Bitcoin. Currently at time of writing the value of 1 Bitcoin is $705.59. What it will be worth once i’ve finished having my way with it is anybodies guess, but I figure if you don’t have a go and throw some money at phenomenons like this then the time could pass and I will be left to sit and wonder what would have happened otherwise. This same philosophy is also the reason why I have lost money in the past, through general curiosity, stupidity and a thirst for knowledge.

buy-1-bitcoin

Price of 1 Bitcoin TODAY

So why is this risky and potentially stupid? Well for one its a massive gamble with my own, hard earned £ and my day job pays peanuts. Fluctuations from minute to minute are all a daily norm, speculation spells fear amongst those that have already made a mint from this and noobs alike, but on a personal level, I reckon its here to stay. However, the risky bit is more about what I plan to do with this 1 Bitcoin….

…I’m going to invest in various other Crypto-currencies, play the market, have a dabble, what ever you want to call it, all in various currencies which don’t really exist. I plan to keep an eye on the market over the coming weeks, report back to you guys with my findings, trends and everything that I learn as I go along.

At the time of writing everyone is going crazy, or at least starting rumours about one of the newest, and I have to say more random currencies on the market and that is Dogecoin.

If you don’t know what Dogecoin is then visit the site link and simply watch the intro video that those guys have come up with to launch, its mental and I love it. As much as I love reading thrifty blogs and even write thrift posts of my own, if i’m honest with myself I don’t think my heart is in it. Life is too short to save pennies and live safe. If you enjoy saving money then that is fine by me and I applaud you for your efforts and sensibility, but this is something that the gambling nature in me has just coaxed out. It doesn’t mean you can’t enjoy my round ups and watch me squirm at losing money though, but if you could hold back the ‘Told you so’ quotes whilst I get to grips with this whole market mayhem i’d appreciate it.

Trading currencies

So as a reference point below you will see a whole bunch of prices as of today. I plan on following this religiously watching as meme currencies float into the clouds then hit the ground with a hard thump, only hoping i’m not riding them at that point.

# Name Market Cap Price Total Supply Volume (24h) % Change (24h) Market Cap Graph (7d)
1  Bitcoin $ 8,744,292,452 $ 706.22 12,381,825 BTC $ 61,990,339 +16.48 %
2  Ripples $ 1,839,357,871 $ 0.018 99,999,998,012 XRP* $ 123,921 +9.20 %
3  Litecoin $ 476,046,866 $ 18.59 25,606,104 LTC $ 17,656,769 +16.18 %
4  Peercoin $ 102,287,049 $ 4.84 21,135,818 PPC $ 1,523,214 +16.04 %
5  DogeCoin $ 80,449,195 $ 0.0017 48,024,933,770 DOGE $ 5,113,226 +45.73 %
6  Nxt $ 48,226,669 $ 0.048 999,997,986 NXT* $ 168,527 +10.60 %
7  MasterCoin $ 38,435,364 $ 68.25 563,162 MSC* $ 30,705 +23.76 %
8  Namecoin $ 36,628,205 $ 4.58 8,003,942 NMC $ 2,241,095 +22.43 %
9  Quark $ 19,285,213 $ 0.078 247,533,093 QRK $ 536,644 +7.20 %
10  ProtoShares $ 16,544,813 $ 11.38 1,454,374 PTS $ 304,741 +5.07 %
11  Megacoin $ 10,983,594 $ 0.50 22,123,175 MEC $ 34,905 +2.71 %
12  Primecoin $ 10,562,487 $ 2.41 4,385,831 XPM $ 212,177 +14.92 %
13  Feathercoin $ 10,465,050 $ 0.32 32,970,700 FTC $ 1,345,874 +75.10 %
14  Infinitecoin $ 9,289,334 $ 0.0001 90,103,603,725 IFC $ 28,258 +19.51 %
15  WorldCoin $ 7,744,837 $ 0.18 44,191,818 WDC $ 426,620 +10.27 %
16  Novacoin $ 7,738,968 $ 11.04 700,943 NVC $ 161,990 +23.78 %
17  Vertcoin $ 6,317,129 $ 3.78 1,670,000 VTC $ 227,846 +13.05 %
18  Devcoin $ 3,866,056 $ 0.00062 6,275,420,050 DVC $ 57,441 +24.02 %
19  YbCoin $ 3,356,433 $ 3.25 1,033,177 YBC $ 1,105 +6.92 %
20  Tickets $ 3,244,625 $ 4.9e-05 66,876,281,414 TIX $ 3,376 +19.59 %
21  Zetacoin $ 2,576,526 $ 0.016 160,048,307 ZET $ 15,569 +15.40 %
22  Digitalcoin $ 2,430,451 $ 0.18 13,174,006 DGC $ 61,230 +2.19 %
23  UltraCoin $ 2,079,810 $ 0.61 3,385,045 UTC $ 32,272 +8.76 %
24  Terracoin $ 1,962,025 $ 0.38 5,191,850 TRC $ 132,820 +89.67 %
25  Applecoin $ 1,917,110 $ 0.13 14,541,736 APC $ 110,968 +6.75 %
26  Mooncoin $ 1,903,334 $ 7.1e-05 26,743,059,588 MOON $ 50,611 +17.09 %
27  NetCoin $ 1,878,570 $ 0.0085 220,950,778 NET $ 4,443 +15.75 %
28  Anoncoin $ 1,802,411 $ 2.48 727,000 ANC $ 31,809 +9.05 %
29  Unobtanium $ 1,706,887 $ 11.37 150,120 UNO $ 99,184 +16.06 %
30  Kittehcoin $ 1,560,891 $ 0.00025 6,221,651,421 MEOW $ 65,491 +17.30 %
31  Freicoin $ 1,423,952 $ 0.038 37,338,899 FRC $ 248 +14.38 %
32  Copperlark $ 1,278,034 $ 0.20 6,256,249 CLR $ 1,000 +11.49 %
33  Ixcoin $ 1,269,646 $ 0.07 18,141,362 IXC $ 2,644 +8.47 %
34  FedoraCoin $ 1,067,183 $ 8.4e-06 127,156,869,870 TIPS $ 45,436 +11.50 %
35  SecureCoin $ 980,281 $ 0.82 1,201,871 SRC $ 64,288 +4.37 %
36  EarthCoin $ 927,661 $ 0.00075 1,238,985,643 EAC $ 28,674 +12.32 %
37  TagCoin $ 841,093 $ 0.99 849,494 TAG $ 84,659 +13.64 %
38  LeafCoin $ 828,183 $ 9.3e-05 8,878,845,406 LEAF $ 7,061 +31.89 %
39  Cryptogenic Bullion $ 795,630 $ 0.85 941,176 CGB $ 5,845 -4.19 %
40  LottoCoin $ 749,567 $ 0.00011 6,633,613,868 LOT $ 33,348 +18.04 %
41  BBQCoin $ 664,321 $ 0.021 31,739,264 BQC $ 2,409 +12.10 %
42  GoldCoin $ 639,850 $ 0.022 29,699,870 GLD $ 724 +15.78 %
43  Sexcoin $ 598,688 $ 0.01 59,540,325 SXC $ 11,706 +20.61 %
44  Extremecoin $ 570,906 $ 0.16 3,465,055 EXC $ 366 +5.18 %
45  Frozen $ 518,552 $ 0.092 5,645,844 FZ $ 1,752 +15.50 %
46  BitBar $ 471,603 $ 48.64 9,695 BTB $ 319 +13.44 %
47  MemoryCoin $ 445,921 $ 0.11 3,996,327 MMC $ 3,558 +9.49 %
48  NobleCoin $ 410,150 $ 0.00075 547,895,000 NOBL $ 6,843 +0.82 %
49  Fastcoin $ 371,806 $ 0.0064 58,169,274 FST $ 9,655 +29.39 %
50  RedCoin $ 365,070 $ 0.011 34,194,716 RED $ 1,257 +16.12 %
51  DigiByte $ 353,746 $ 0.00073 482,664,000 DGB $ 11,908 +20.03 %
52  I0Coin $ 349,523 $ 0.017 20,184,384 I0C $ 136 +19.92 %
53  FlorinCoin $ 319,800 $ 0.0079 40,698,100 FLO $ 2,302 +14.09 %
54  Junkcoin $ 297,503 $ 0.029 10,235,700 JKC $ 2,178 +1.05 %
55  VelocityCoin $ 289,753 $ 0.0064 45,425,949 VEL $ 1,214 -13.57 %
56  Karmacoin $ 286,673 $ 2.8e-05 10,148,151,955 KARM $ 29,692 +24.34 %
57  AsicCoin $ 281,895 $ 0.00065 431,082,934 ASC $ 6,222 +11.86 %
58  Datacoin $ 280,744 $ 0.16 1,713,492 DTC $ 629 +10.56 %
59  Deutsche eMark $ 279,294 $ 0.064 4,393,700 DEM $ 3,725 +25.75 %
60  Catcoin $ 274,465 $ 0.25 1,100,900 CAT $ 2,184 +22.42 %
61  Nyancoin $ 267,940 $ 0.013 20,449,497 NYAN $ 5,160 -0.17 %
62  Yacoin $ 264,366 $ 0.016 16,275,651 YAC $ 367 -3.98 %
63  QQCoin $ 262,507 $ 0.016 15,953,091 QQC $ 2,785 -10.81 %
64  Teacoin $ 253,121 $ 0.0071 35,441,300 TEA $ 10,451 +7.20 %
65  Franko $ 248,229 $ 2.22 111,583 FRK $ 5,725 +31.31 %
66  Philosopher Stones $ 221,255 $ 0.13 1,717,245 PHS $ 484 +24.47 %
67  Electric $ 218,678 $ 7.8e-05 2,814,966,226 VOLT $ 26,753 +43.54 %
68  USDe $ 214,815 $ 0.00083 259,978,850 USDE $ 4,364 +11.38 %
69  SmartCoin $ 202,912 $ 0.085 2,394,342 SMC $ 10,092 -3.18 %
70  GrandCoin $ 201,346 $ 0.0006 335,417,000 GDC $ 2,151 +11.30 %
71  HoboNickels $ 201,073 $ 0.069 2,934,927 HBN $ 1,079 +21.52 %
72  Bitgem $ 198,125 $ 7.94 24,937 BTG $ 16,165 +45.62 %
73  Coino $ 191,579 $ 0.038 5,080,044 CON $ 4,301 +1.86 %
74  Bytecoin $ 191,553 $ 0.094 2,028,696 BTE $ 3,590 +19.79 %
75  StableCoin $ 187,861 $ 0.018 10,363,830 SBC $ 7,160 +31.21 %
76  ReddCoin $ 172,906 $ 2.1e-05 8,161,110,000 RDD $ 3,943 -10.78 %
77  Argentum $ 166,874 $ 0.21 787,561 ARG $ 6,309 +28.94 %
78  Elacoin $ 162,828 $ 0.70 232,422 ELC $ 4,456 +29.78 %
79  RonPaulCoin $ 157,333 $ 7.04 22,363 RPC $ 4,064 +16.55 %
80  Diamond $ 156,363 $ 0.60 259,551 DMD $ 1,890 +21.78 %
81  42 Coin $ 153,906 $ 112,995 1.3620597 42 $ 6,071 +10.57 %
82  GlobalCoin $ 152,032 $ 0.0049 30,753,720 GLC $ 6,876 +33.26 %
83  KlondikeCoin $ 147,548 $ 0.033 4,405,940 KDC $ 9,338 -5.98 %
84  Luckycoin $ 137,926 $ 0.011 12,511,368 LKY $ 419 +9.47 %
85  CasinoCoin $ 135,409 $ 0.013 10,652,120 CSC $ 1,921 +15.48 %
86  BattleCoin $ 116,947 $ 0.014 8,185,684 BCX $ 4,887 +17.76 %
87  Pxlcoin $ 113,098 $ 0.26 432,825 PXL $ 8,186 +17.51 %
88  Xivra $ 100,877 $ 0.00029 351,630,000 XIV $ 1,952 +16.15 %
89  Grain $ 95,156 $ 0.00011 851,172,576 GRA $ 660 -5.38 %
90  Phoenixcoin $ 94,369 $ 0.0096 9,809,250 PXC $ 1,443 +8.34 %
91  Noirbits $ 87,509 $ 0.04 2,162,500 NRB $ 534 +13.32 %
92  eToken $ 84,205 $ 0.34 244,232 ETOK $ 9,618 +52.73 %
93  Joulecoin $ 72,693 $ 0.017 4,265,728 XJO $ 761 +15.33 %
94  TeslaCoin $ 72,521 $ 0.0034 21,304,644 TES $ 2,408 +22.41 %
95  CraftCoin $ 63,260 $ 0.19 328,030 CRC $ 1,294 +1.53 %
96  Astrocoin $ 53,615 $ 4.73 11,334 ASR $ 3,981 -20.50 %

Another reason i’m trying this out is because I think I may have lost my way in which direction I want to take my blog, and not really come across many people trying and testing the Bitcoin revolution so thought i’d give it a whirl.

If anybody else wants to join in the madness and buy 1 Bitcoin with me then feel free to comment on this and join in, i’m sure the ride will be more fun in numbers so we can share our findings etc. I read a good post by another novice named Sean Aranda who was just dipping their toe in this world and goes through the very basics and his experience of this whole world. His down to earth, skeptical approach encouraged me to jump in head first and see if I come out the other side. I plan on writing my own post similar to this once I get up and running. After doing my research it seems the most trusted place to buy from is Coinbase.com and one of the most secure platforms to trade is Cryptsy.com.

Anyways, whos up for the ride? It turns out it takes around 10 days to get everything setup so if you do want to join me on 1st March be sure to bare this in mind.

 

 

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