What is Ripple and How to Trade it Online

Money transfer and international remittances is one of the largest financial industry in the world. The need for these services has increased with the growth of globalization. Globalization has enabled people to move from their native countries to other countries in search of opportunities. Companies too have become more global.

All this has led to the disruption of the traditional money transfer companies like Western Union and Moneygram. They have been disrupted by companies like PayPal, Skrill, Transferwise, and Venmo among others. Still, the challenge of sending money abroad has not been solved entirely. There is the problem of the duration the funds take before they arrive to the recipient. There is also the problem of the fluctuating currencies and the price of sending the money.

To solve these problems, three young men – Arthur Britto, David Schwartz, and Ryan Fugger – developed a company known as Ripple in 2012. The company operates in the Real Time Gross Settlement System (RTGS) industry which enables companies and people to send money faster and cheaper.

It is built on a distributed open source internet protocol, consensus ledger, and the decentralized digital asset called XR. The technology has become so popular that it has been adopted by some of the biggest banks and remittance companies. Companies like Western Union, Santander, American Express, and Credit Agricole have adopted the technology.

As a trader, it is possible for you to make money trading the ripple assets. Today, one ripple costs $0.5, which is a significant low from its all-time high of almost $4. Ripple has a market value of more than $20 billion making it the third largest cryptocurrency after Bitcoin and Ethereum which have a market value of more than $111 billion and $52 billion respectively.

Like Bitcoin and Ethereum, you can buy Ripple for speculation purposes. This is where you buy a few Ripples and store them in your wallet and hope that the price will go up. Since Ripple is one of the least expensive cryptocurrencies, small movements could make you earn a fortune if the price moves in the same trajectory as Bitcoin and Ethereum.

You can also trade Ripple CFDs using forex and CFD brokers. Here, your role is to find short term opportunities to buy or sell the Ripple. By buying, you hope that the price will move up while when you sell, you hope that the price will fall.

To know when to enter a buy or short position, you need to be good at fundamental and technical analysis. Fundamental analysis entails looking at the key issues with Ripple and the market itself. For example, when a new major company adopts Ripple, the market will react by buying more XRPs. If an early adopter exits, traders will react by selling their holdings.

Technical analysis on the other hand entails using one or a combination of multiple indicators to predict the future movement of the CFD. Ideally, you should use indicators that show when a trend is forming, and then confirm the trend with oscillator indicators. By taking time to learn more about these indicators, you will be at a good position to be an excellent Ripple and other cryptocurrencies trader.

Money Save: Determining How Big of a Self-Storage Unit You Need

Now you have made the decision to get a storage unit to store your stuff in, you need to do a little work in helping to determine what exactly you will need in regards to size. There is a fine balance between having too little space in a unit and having one that is way too big for your needs.

The best thing to do is to think about the things that you are looking to put in storage and then take it from there. One of the best tools you will have at your disposal will be that of talking to a person at the storage unit and see what they suggest for your needs.

How Much Stuff Do You Have?

The biggest question you will need to answer is how much stuff you have to put in storage. I have suggested to people in the past to take all of the stuff and put it on a list as to what you are taking to put in storage.

This is a good bit of advice as it helps you to keep it straight in your head as well as help you to make sure that you don’t forget anything. This list will be important and you will need to make sure that you keep it somewhere that you can remember where it is.

How big are the things you are putting into storage?

The things that you are putting in storage matters as to how big they are and how much space will they take up. Boxes will take up a lot less space and you can fit more in the unit as opposed to having a lot of furniture that you are looking to put in the storage unit.

Take a little time and figure this out. After you do this, then you are ready to head to the storage place and talk to the person on staff to see what they have and suggestions for you.

Talk to the Manager and Take their Advice

The person working at the storage company will generally have the needed knowledge to help guide you to what options you have for storage and where your best bet will be.

You also need to talk to them to make sure that they have a storage option for you that will work and won’t break the budget. The other reason that they need to know how big of a unit that you need will be to help them know if they have a unit or not. You may need a 10×10 unit and they don’t have it.

As you can see there are a lot of things that you need to take into account when making a decision about how big of a unit that you need for all of your storage needs. This will make the process a lot less stressful if you use a place such as https://storebox.co.uk then you will see that this process will be a lot more easygoing than you had thought it would be.

Electronic Unclaimed Money Information System Will Be Introduced Next Year

Claim Money Online Next Year

Great news, starting next year you can check your unclaimed money online. According to Deputy FinanceMinister Datuk Othman Aziz, the government will launch the Electronic Government Unclaimed Money Information System (eGUMIS) in the second quarter of next year to facilitate the revision of unclaimed money status, especially by rural people.

The Deputy Finance minister said there were 52,015 applications to claim unclaimed money made this year with 34,353 applications from around Kuala Lumpur alone. “The Accountant General of Malaysia will also join the Mobile Community Transformation Center organized by the Ministry of Finance to enable the people especially in the rural areas access and check the status of unclaimed money,” he said at the Dewan Rakyat sitting here today.

RM 5.96 Billion

He said this in reply to the question Datuk Ahmad Fauzi Zahari (BN-Setiawangsa) on the steps taken by the government to raise awareness of the existence of unclaimed money. He said that until October 31 this year, unclaimed sums were RM5.96 billion with 70 percent contributed by banking transactions such as savings account, current account and non-active savings account for over seven years.

For now, you still have to go to Accountant General Department with your identification card to claim your money.

For office address all over Malaysia, you can refer here: Address Accountant General Department in Malaysia

 

Almost Two Thirds of Malaysians Don’t Know Their Credit Score

When was the last time you checked your credit score? Well it would seem that Malaysians have a rather laid-back approach to managing their credit history. In fact, as many as 64% have never even looked at their credit report. That’s according to a survey by credit reporting agency RAMCI.

And despite almost 75% of people knowing what a credit report is, an astonishing 56% admitted that they didn’t know what the purpose of a credit score was and how it can impact their credit applications. But when it comes to finances, ignorance definitely isn’t bliss and having a poor credit score can seriously impact you being able to obtain credit in the future.

Financial lenders like Maybank could reject your loan or credit card application based on your credit score, causing you to struggle to get finance elsewhere.

What is a credit score?

A credit score, created by a lender or credit reporting agency is a numerical picture of your credit profile. This credit score may be used by Maybank to evaluate a person’s credit worthiness for a credit card or loan and can even decide the interest rate you will have to pay.

However, many Malaysian banks have their individual method of calculating your credit score. Therefore, getting your loan request approved will greatly depend on which bank you apply to. Your creditor will calculate your credit score and use it to decide whether they will accept or deny your application.

What can hurt it?

There are a number of ways you can damage your credit score. Your spending habits or not paying your bills on time can seriously impact upon your credit score.

And not just that, it can mean that you cannot get more credit in the future. Here are some ways you could be harming your credit score.

  • Always being late to pay your bills will tell another bank that you will likely be late on their payments too. The more times you make a late payment, the more it will hurt your score.
  • Sharing finances with other people, or acting as a guarantor on someone else’s behalf, can be disastrous for your credit score rating. If they default or make a late payment, it will hit your credit score too.
  • While it may seem unfair, not owning a credit card or never taking out a loan does actually more harm than good. The score considers whether you have a reasonably lengthy history of managing your finances and credit commitments. So, the older your credit history, the more points you will accumulate.
  • Having credit applications rejected can have a serious and negative impact on your credit score rating. Therefore, try to only apply for credit when you need it, and when you are confident that you are going to get it.
  • How much you owe can greatly affect your scores, just as much as whether you make your repayments on time.

Take control of your credit profile

Even if you discover that you have a bad credit score, it is possible to turn it around. By working hard to pay your bills on time and reducing your credit card balances you can transform it to a healthy score.

Of course, you can still get by with a poor credit score, but achieving a high rating has many benefits and opportunities for low-interest loans in the future. But in order to improve your financial borrowing position you need to start by knowing your credit score.

A daunting prospect perhaps, but once you know your situation that Maybank loan could be just around the corner.

Mastercard Creates Credit Card with Built In Fingerprint scanner

Mastercard has come with new fingerprint technology  on credit card to reduce fraud and  stolen identity. The pilot project has started in South Africa and they plan to fully introduce the technology to Europe and Asia this year.

Mastercard has been  working with Pick n Pay, a South African grocery retailer and Absa Bank, a subsidiary of Barclays.

Biometric fingerprint is seen as safer and easier than 4 PIN authentication.  Shopper just need to hold the card by the fingerprint sensor and insert it to a card reader.

The terminal will verify the fingerprint and approves transaction. This will reduce burden for user to memorize a lot of PIN and password. Because normally credit card user will likely to use their birthday date as pin or just 1234.

We have to admit that there is no perfect system. Same goes with fingerprint technology. According to New York researchers, they already created synthetic master prints that can imitate people’s fingerprints.

Although none has been tested on real handphone, the researcher only tested it on computer simulation, but the technology rapidly improving.

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