Category: Blockchain (Page 1 of 2)

How Blockchain Can Impact the Financial Services Industry

how blockchain can impact the financial industry
Educational: How can blockchain impact the financial services industry?

Introduction

You might have heard about Bitcoins and Ethereum.

They have transformed people from rags to riches.

Cryptocurrencies are the future of transactions in business.

You will be amazed to know that Cryptocurrencies use the power of Blockchain technology.

They have their own benefits and advantages.

If you want to start trading on Cryptos, do it with eKrona, the European Union Digital Cryptocurrency.

Visit the-ekrona.com to know more about it.

Thus, Blockchain technology has a great future, and different sectors are trying to optimize it.

Experts opine that they have a huge role to play in the financial industry.

It has a great future in this sector.

The following article discusses the impact of the Blockchain in the financial service industry.

What Is Blockchain?

what is blockchain?
Educational: What is blockchain?

The Blockchain is one of the latest data storage technologies that has completely transformed how data is used.

When you record some transaction or information into the Blockchain, it gets into the distributed ledger.

A distributed ledger records the information in a wide network of computers.

Blockchain, unlike any centralized data maintenance system, is decentralized.

Thus, the hackers won’t be able to track down the point and get into the network.

When you record information into the Blockchain, they are safe and secure, and the hackers can not dent into your network and create havoc with the data.

Thus your data remains safe and secure.

Many sectors are using technology, and the financial industry is definitely one of the major ones on the list.

Impact Of The Blockchain On The Financial Industry

There is high scope with Blockchain Technology in the Financial Industry and let us find it out here in this section to know more.

1. Efficient Payments                                                              

The traditional payment modes have been using the services of third-party systems.

They work as a mediator between the two stakeholders.

The problem with the financial industry is slow payments.

The processing takes quite a length of time.

Moreover, with the traditional financial system, you must be prepared for processing costs.

But this is different with the Blockchain.

With the Blockchain, things can move quickly, efficiently, and at a fraction of the cost involved.

2. Improved Compliance Process

KYC is one of the most important functions of the Banking system.

Now it involves paperwork and other complications.

Further complexities make the KYC procedure a little complex.

But with a Blockchain, the financial organization can streamline the entire KYC detail with ease.

With automation, they get all the assistance on the compliance’s other factors.

Therefore, the seamless exchange of documents between the bank and the other entity can be facilitated.

3. Fair and Fraud Free Data Transfer

You might know that data has become extremely vulnerable.

The hackers are always ready to pounce on your network and take authority over your data.

They can have complete authority over your data. They can even ask for ransom.

Therefore, data management has become one of the most important things for financial institutions, and this remains a big challenge for the organizations involved here.

Different financial organizations reciprocate information between them. If they use the Blockchain, they can easily safeguard data from getting into the hands of frauds.

Hence, fair and free data transfer is an important factor as it safeguards information.

Blockchain plays an integral part in helping to reciprocate data and ensure data safety.

4. Lowering the Costs

You might have heard that the financial regulatory bodies take note of lowering the costs.

In general, financial transactions are managed by a third-party organization.

They do their process at work, and in return, they take charge.

For instance, if you transact a thousand dollars, you might need to bear 5% to 6% of the whole transaction, sometimes as processing fees.

Now, this is quite a big amount.

But with the advent of the Blockchain, financial transactions can occur with a fraction of the charges.

Hence, financial institutions can make use of Blockchain to reduce costs.

Closing Down The Discussion

Financial organizations are looking to streamline things to ensure transparency.

They are also trying their level best to improve upon their services.

Thus, Blockchain can be a potential solution to combat the challenge they are having at this point.


How Much Bitcoin Should You Buy: Factors to Consider in 2023

how much bitcoin should you buy
Educational: How much Bitcoin should you buy?

Introduction

Bitcoin has been the bread and butter of the Cryptocurrency world for quite some time.

Even if people cannot get into other Cryptocurrencies like Ether or Dogecoin, Bitcoin will still remain the king.

Many call it an achievement once they start trading through Bitcoin.

Therefore, it is understandable that there are novice investors who are still asking this question, โ€œHow much Bitcoin should I Buy.โ€

Afterall among all the Cryptocurrencies out there, Bitcoin is the most volatile one.

Probably because of its hot & cold reputation.

At one point, it is high in demand, and the next day everyone is against Bitcoin, and the prices seem to fall drastically.

We are here to rescue you from evergreen curiosity.

Once you read this article, you should understand the amount you should be investing and the other factors to keep in mind when investing.

How Much Should You Invest?

how much bitcoin should I buy

Let’s pull over some percentage here, shall we?

When it comes to your first-time investment, then you should always have a total investment amount set with you.

Without this, you can start treating this as a gamble when you get a taste of big profits.

Once you have this investment amount set aside, it is time to place only 10% of that amount in your first investment.

Some might even prefer a total of $100 investment in your first year and begin with a mere $10.

Do not invest it all at once and have a scheduled time for investing.

For example, the first investment, and then after every three months.

This will essentially prevent you from giving in to tempting offers with nothing to base them upon.

Related: How to Invest in Bitcoin Cryptocurrency for Beginners

Other Factors to Keep in Mind

Here are the other factors which you should keep in mind while investing in Bitcoin for the first time.

1. Do Not Give Into FOMO

FOMO is the Fear Of Missing Out.

This is when a novice investor gets too excited about any new investment.

Especially if they see their fellow pals earning major profits; however, you should remember that not every piece of knowledge is the same.

When you find someone earning thousands from one move, there is a lot you need to factor in.

How many years have they been investing, was any calculation involved in this move, or was it plain luck?

No matter what you do, do not blindly believe in someone.

Sometimes when you get a higher profit from one investment, it is easier to get blinded by temptation.

This is why a set amount of investment rules is perfect to start with.

2. Strategize Loss Tolerance

If you are not strategizing your loss, you can never learn from them.

The very first rule of Cryptocurrency is always invest the amount you can lose.

This is known as โ€œloss tolerance,โ€ i.e., how much loss you can tolerate.

If the loss is too much, neither will you be able to learn from it nor have the confidence to invest again for a very long time.

So, before investing, understand the amount you will be okay with losing, and then start investing through profit-maximizerapp.com.

This is a smart move upon anticipating that you will be losing your very first investment, and you are doing so to educate yourself.

What About Minimum Investment?

Upon reading the last point, many might think of investing very little in their first investment in Bitcoin.

Some might even think about investing as little as $2.

But we, along with experts, would suggest otherwise.

No matter the platform you choose for investing, there are fees attached to trading and Crypto investment.

Upon trading with a meager amount, you will end up paying more fees than your investment.

Another crucial suggestion would be not to put all your eggs in one basket.

Cryptocurrency losses are inevitable, so divide your capital and invest in different digital coins.

In this way, you will have another to fall into in the event of a big loss for one.


More People Are Adding SHIB to Their Watchlist Than Dogecoin

SHIB News Today.
SHIB News Today.

1.8 million people have now added SHIB to their watchlist on CoinMarketCap beating Dogecoing (DOGE) by more than 200,000.

SHIB is currently trending on Twitter as SHIB news was released that developers had launched an updated version of their ecosystem website today.

The Shiba Inu community has now grown to an astonishing 3.6 million on Twitter.

The community had achieved its first million milestone in October of 2021 when SHIB reached its second all-time high.

Some of the biggest SHIB news leading to the new year included the cryptocurrency getting listed on Kraken and eventually trading on Robinhood.

Today, the SHIB community is waiting for the next major gainer during the next bull run.

Here’s what’s happening with SHIB.

SHIB Army Expansion

Shib Army

The SHIB army continues to expand, sharing its uniqueness with other likeminded communities.

PlaySide Studios has partnered with Shiba Inu Games in such an early phase of the cryptocurrency and gaming development.

PlaySide said it continues to collaborate with strategic partners to develop games using the latest trends that are shaping the future of the gaming industry.

“With booming global trends such as the metaverse and the growing popularity of new technologies including cryptocurrencies, nonfungible tokens (NFTs), and blockchain gaming; new opportunities in games continue to emerge.”

Gaming seems to be a big niche where blockchain technology is headed to grow the industry.

Companies such as GameStop have now begun to dive into this process through their NFT Marketplace.

SHIB Price Changes in the Last 24hrs

SHIB Price Chart today.
SHIB price chart today.

Shiba Inu coin is currently up 3.20%.

Its market cap is up 3.25%, with trading volume at 109 million.

The ‘meme token’ currently ranks at #15 on CoinMarketCap and #12 on Coinbase.

Are you holding SHIB?

If so, how many millions?

What are you most excited for the community in 2023?

Leave a comment down below.

You can follow me on Twitter for daily market news and updates.


LUNA (Terra Classic) Could Be Headed for Higher Gains

Will LUNA keep going up
Crypto News: Will LUNA keep going up?

$LUNC, Luna is making a ruckus in the crypto community as it rises from the grave.

The crypto community either brushed the cryptocurrency as another failure and walked away or took advantage of the price and bought Terra Classic at incredible lows.

Investors want to know two things.

What’s causing LUNA to go up, and will it continue to set higher levels of support?

Let’s break it down together.

franknez.com

Welcome to Franknez.com – if you havenโ€™t joined the newsletter, be sure to do that below. Iโ€™m publishing stock and crypto news every week.

Letโ€™s dive right into it!

Join the newsletter to receive weekly market news and more content like this, straight to your inbox!

Luna Classic Community shows ambition

The Luna Classic Community on Twitter has crypto enthusiasts on both sides of the fence.

Crypto investors are either up on gains in LUNA and continue to hold the cryptocurrency or are merely on the sidelines waiting for the asset to smash through the ground.

But bigger influencers such as David Gokhshtein are skeptical stating $LUNC is a lottery ticket.

Gokhshtein was a huge supporter of the project during the surge to $80 and $100 but has since deleted all tweets prior to the crash of UST (Terra Network).

LUNA supporters are hoping to pump the crypto to $1.

And while no one can rightfully predict how high LUNA ($LUNC) can go, the cryptocurrency seems to be setting higher support levels.

Why is LUNA (Terra Classic) going up?

Why is LUNA going up?
Why is LUNA going up? Franknez.com.

Terra Classic ($LUNC) seems to be having a great deal of volume coming in.

The cryptocurrency saw more than $1 billion in daily volume in the beginning of September where it then turned into $2 billion per day.

It seems whales are moving big money into this very speculative trade and slowly pumping it in order to profit later.

Whales (big money) are the ones who have the power to move the markets so it would only make sense as to why large sums of cash are being pushed through LUNA and not a bigger asset such as Bitcoin.

These investors who have been liquidating from BTC and Ethereum might be looking at other cryptocurrencies to capitalize from.

But those are just my thoughts, I’m curious to know what you think.

Buy LUNA with KRAKEN! ๐Ÿ‘ˆ

Is Terra Classic done running up?

What we do know is that Terra Classic ($LUNC) continues to set higher levels of support, which gives reason as to why LUNA could potentially be headed for higher gains.

Especially if whales are indeed pumping the security for quick profits.

I noticed big volume was going into this cryptocurrency and had called out momentum rising around .00031, LUNA has reached a high of 0.00048 since.

If you’d like more updates on $LUNC and other crypto, join my newsletter for weekly updates or connect with me on social media.

Related: How to buy Cryptocurrency for Beginners

You Can Follow Me On: Twitter | Facebook | Instagram


« Older posts

© 2023 Franknez.com

Theme by Anders NorenUp ↑