Wealth management is an important part of managing a business. For wealth management, different techniques or methods have been adopted. Among those techniques, converting a portion of wealth into bitcoin or crypto coins could be useful as well as beneficial in several ways.

In this piece of writing, those benefits will be discussed. Understanding the benefits of converting business wealth into cryptocurrency will help in the wealth management process immensely. Discussions related to crypto coins is trending these days.

People are getting more curious about them and it is the right time for the business owners to gather better knowledge of it so that certain benefits can be attained for the purpose of business wealth management.

A Secured Method of Keeping or Holding Money

Bitcoin is based on blockchain open source framework, which delivers excellent security to this virtual currency. The most important feature of blockchain is that once a transaction has been registered it cannot be undone or modified. As a result, it is protected from the threats that intend to change transaction information and divert the fund to another account.

Keeping money in the bank and using that for online payments is highly insecure for this reason. With the advent of time, traditional currency is facing both virtual and physical threats.

Handling traditional money through the internet has plenty of risks. We often hear about malware attacks on the bank servers and various virtual wallets. We also hear about security attacks on the web server of a business house or organization. Such security breaches can lead to loss of wealth.

Undoubtedly, such wealth loss is not at all small. If hackers get a trace of your business bank accounts, your business would end up losing significant amount of money.

On the other hand, blockchain based cryptocurrency is secured. It is almost impossible to conduct a financial scam or mischievous activity with bitcoin or other crypto coins.

Top Benefits of Holding Bitcoin

Apart from giving top-notch security to the wealth, investing into bitcoin has several other benefits and those benefits are important to be known for business owners. Holding crypto coins can help a business in different ways.

Here are those benefits:

• Easy to Convert:

The process of converting money into the cryptocurrency is simple and highly convenient. It takes only a few seconds. There is no extra charge to be paid for the transaction process. It is to be reminded that once converted into bitcoin, the transaction cannot be reversed. Hence, think twice or even more, before converting money into crypto coins.

• Easy to Manage:

Managing cryptocurrency is simple. You shall have a digital wallet, which will be secured with a unique code. This code should be kept confidential for the security of your crypto money stock.

Typically, the crypto wallet comes with a lot of wealth management and planning feature. It can produce graphs of your expenses and help you to get transaction data in different file formats. No charges are there to be paid for managing or maintaining these virtual crypto wallets.

• Protected from Scam:

In small to large business houses, several financial scams take place with various mischievous activities in various departments. Such scams cannot be done with bitcoin or cryptocurrency. Even if there is intent for the scam it can be identified easily, and that is why wealth management is a seamless affair when you are using crypto coins.

• No Loss of Wealth due to Inflation:

Global inflation can cause loss of wealth for an organization. However, cryptocurrency is inflation protected. Global economic inflation does not harm the value of crypto coins. As a result, wealth loss does not take place.

Easy to Invest in Trading

Business owners often have interest towards various kinds of trading options, including stock and currency trading. It is easy to invest in forex trading or commodity trading with bitcoin. Many Forex trading platforms support cryptocurrency and they also encourage the investors to earn money in cryptocurrency.

So, trading with business wealth gets easier with crypto coins. They are extremely useful and always effective in terms of commodity trading or other forms of trading.

Bitcoin Payments to Employees

Businesses, holding wealth in crypto money, can easily disburse employee payments or salaries in Bitcoin. This is a secure way of making salary transaction. The records stay intact on the blockchain database.

The transactions can be downloaded at any time. Nevertheless, salary disbursement will be seamless and instant. It would take hardly a few seconds to disburse the salary. Observing the popularity of Bitcoin or other forms of crypto coins, it is not an exaggeration to claim that employees would also like to get their payments on cryptocurrency. It will help them to get secured payments.

Bitcoin for Business Investments

Business wealth has been kept in different forms, not just in physical or virtual money. Many business owners hold wealth through property investment. On the other hand, money is required for buying business assets as well as types of machinery.

Thankfully, cryptocurrency has been accepted quite extensively by various sellers these days. Reputed real estate groups or agencies always accept payments in crypto coins. Nevertheless, many business assets, as well as machineries, can easily be purchased with the help of the Bitcoin. Thus, holding wealth in cryptocurrency is always helpful as well as useful.

Easy to Trade Internationally

In most of the countries, Bitcoin has been legalized. As a result, international trading has become easier with Bitcoin. It is easier to send money overseas, and no hefty charges are required to be paid for such payments.

Dealing with traditional currency in case of international transactions is always daunting. You need to show the reasons for a transaction to the bank. Upon the bank’s approval, you need to undergo a few steps to finally get your money transaction done. It involves some charges that the bank takes a transaction fee. With crypto coins, there is no such hassle involved in international payments.

The bottom line is that cryptocurrency is the “next big thing” in the domain of global economy. A business can stay ahead of its competitors and attain better wealth management with crypto coin investment.

Don’t DARE Invest In Cryptocurrency Without Reading This And Implementing…

It is quite surprising that cryptocurrencies are still holding their ground up to today. Notably, the new currency has seen a lot criticism come its way, especially from traditional financial institutions.

However, the government side is also remarkable in trying to stifle the take-off of the currency. In fact, China banned all activities related to cryptocurrencies and initial coin offerings (ICOs).

But why?

The common line of attack is the unregulated nature of the new market. In addition, the criticism calls out the volatile nature of the assets’ prices. In fact, many regulators believe the cryptocurrency is a favourite conduit for laundered money. However, crypto enthusiasts reject this view vehemently.

Against this backdrop, the cryptocurrency market has seen booms on unimaginable degree. In fact, followers argue that the market has not seen its best days yet. Perhaps this explains the rise and rise of investors coming into the nascent market. However, it is notable that there is very little information available on how one can make the best bet in the market.

Therefore, this article intends to offer directions to a newbie who wishes to join the market. Perhaps for prudence’s sake, it is sensible to acknowledge at the onset that truly, the market is volatile.

Warning #1: Understand the fundamentals of cryptocurrency

Cryptocurrency is like any other kind of currency. According to an article on Forbes, investors should note that cryptocurrencies exhibit basic characteristics of money. Per the article, crypto are typically units of measurement, they store value and they transfer value.

However, the article advises investors to “consider if and when these functions are only a byproduct of the objective inscribed by the creators into the asset’s software code before investing in a cryptocurrency.”

An investor should understand the difference between a cryptocurrency coin and a cryptocurrency token. Coins are fundamentally for transaction while tokens are similar to a digital banker’s check. They represent a claim to asset. Normally, they are referred to as smart contracts.

Warning #2: Diversify your options

This is a classic tenet of investment. A good investor learns to hedge bets. Basically, when one decides to put money in digital assets, one is basically betting on its price. Importantly, cryptocurrencies are a fairly new technology. That is to say the market has not seen the roughest of times. Therefore, the prices of cryptocurrencies are at the moment quite volatile.

For that reason, it is impossible to know which cryptocurrency will drop out of the market in the next bust. To be safe, it is prudent for an investor to put their money in a well spread portfolio.

Warning #3: Maintain high security for your data and computer

Since they are digital assets, this means we mainly store them on our computers or cloud service. As a result, the assets are at risk from hackers and fraudsters. The Telegraph advises that one should keep anti-virus software up to date. Also, the publication warns against giving private data online especially if one keeps all crypto data offline on the system.

However, it could also be dangerous to give out private data even when you store data on cloud services.

Further, investors should ensure that they store their passwords away from the computer. This is especially important for account login password keys. Experts mostly recommend storing such data on flash drives and ensure they are kept safe.

Warning #4: If you store crypto in wallets, keep them offline

This is another very crucial matter that The Telegraph addresses. According to the publication, cryptocurrency wallets are number one prey for hackers. Therefore, keeping them online is quite a risky business.

For optimum security, experts advise that one should keep the data on wallet on a cold storage device. This refers to a device such as a USB drive or a computer which is not connected to the internet. The significance of offline or “cold storage” is that there is no way hackers can reach the device.

Staying offline keeps the computer cold and immune to advances by hackers. Make sure you ask us about our new “Military-Grade Encryption Cold Storage Device” portable technology.

Warning #5: Do thorough background check

In fact, this is a very important step which should come at the top. However, since we are here, research is the foremost step one should take. This is for the reason aforementioned.

The cryptocurrency market is still young and unregulated. Therefore, there are many fraudsters roaming the gray areas waiting to feed on unsuspecting and gullible investors.

A deep research in an ICO, for instance, will help the investor to raise questions and probably spot red flags. Also, research helps in that one gets to hear what other people in the community are saying about that particular asset.

Warning #6: Be in control of FOMO

Normally, there are different motivators to investments. It could be for the anticipated returns which may be quite high. For whatever, reason, it is important to make sure that one does not enter a market out of fear of missing out (FOMO).

As a cryptocurrency investing principle, this is the most wrong motivation to invest. All market experience booms. Cryptocurrency market may be in a boom today but tomorrow is uncertain. Remember the dotcom boom and bust? Therefore, making decisions purely out of research and a desire to invest is more crucial.

Warning #7: Choose your broker carefully

Another important step that should come at the head of this list is the investments broker. These are the intermediaries that manage trades and other important transactions. Since they handle an investor’s money and profits, one should make sure to do deep research on them.

Background research will enable an investor to get the market opinion on the particular broker. This will give the investor an initial idea of how the broker conducts business and their charges. Also, investor will understand their business model and whether they can hold off a storm in the market.

Warning #8: Understand leverage and how you can exploit it

Just like the forex market, cryptocurrency market utilizes the leverage technique. This is because there are currency pairs in the market on which traders put bets. Therefore, it is prudent for the investor to understand what leverage is and how it can help earn profits.

Also, understanding leverage will pre-warn the trader regarding the risks that accompany the technique. An investor will do good to know that leverage can lead to one losing an entire investment in the market.

Additionally, understand if the firm that offers the leverage option is regulated by the relevant authorities. This is part of the background check aforementioned.

Warning #9: Anticipate volatility

Like earlier mentioned, the cryptocurrency market is quite young and prone to volatilities. Therefore, it is prudent for the investor to keep an open mind and expect prices to fluctuate wildly. This will happen for quite some time until the market is mature enough.

In an interview with Fortune, Chris Burniske, the co-author of the book Cryptoassets, advises that price volatility is inevitable. This is for the reason that the market still has a lot to accomplish; important among them being official regulation.

Warning #10: Participate in the blockchain community

 Get involved and associated with the leaders and members of the community.  Ask questions and gather as much data you need to make a viable decision.  

Also, make sure you do some background checking on the companies associated with the ICO because the past usually do catch up with the company when going public.

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