Archive for September, 2017

Bitcoin – A Popular Digital Currency

Bitcoin is a virtual currency that has become a popular term that is one kind of new currency, whose transactions are completed without any intermediaries. It does not require any transaction fees along with one’s real name. Nowadays, many merchants are starting to accept this currency. One may purchase webhosting services, manicures, or pizza.

Bitcoins could be used for purchasing the merchandise anonymously. Additionally, the international payments are cheap and easy, as bitcoins are not attached to the country along with subject to regulation. Small businesses might like them, as no fees for the credit card are required. Some individuals buy bitcoins for an investment in a hope that their value will be increased. Bitcoin is featured with a number of advantages and benefits over the use of localized currency. Some of the attractive advantages are described below:

Cheap and Quick Transactions: The Bitcoin transfer is associated with extremely low fees compared to the conventional methods to move money. A usual Bitcoin fee is 0.0005 BTC per transfer. On the other hand, a typical international wire transfer may be associated with the cost of 700THB-1300THB per transaction. Credit cards acceptance may usually cost transfer amount’s 3-5% that is more expensive compared to a Bitcoin transaction. International wire transfers could take a period of some days to higher than one week and Bitcoin transactions are usually confirmed within an hour.

Irreversible Transactions: The sole payment procedure that is 100% irreversible is Bitcoin and it cannot charge back. That is why; one must be very careful and cautious while sending Bitcoins. Make sure that you are delivering Bitcoins to the trusted vendors.

No Paperwork: Any individual of any country holding any age could accept the Bitcoins within a minor. No passport, no ID card, or address proof is required to open this account. One has to download a Bitcoin Wallet program to begin sending along with receiving the Bitcoins and can create a Bitcoin Address.

Appreciating Value: The Bitcoins’ value was highly volatile in the initial years of its inception. Nevertheless, in time of the last 6 months, this currency has been stabilized and it has been increasing steadily in the value on the regular basis.

Other advantages of Bitcoin are linked to the field of security and control, transparent information, payment freedom, lower merchant risks etc. If you are enthusiastic to know more details regarding Bitcoins, then visit the website .

What is fintech and how has it evolved?

With the entire world becoming increasingly digital, and indeed digitised, the financial services industry following suit should come as no surprise.

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Fintech refers to financial technology. Broadly construed, this means any technology used to improve any areas of banking, financial management, payments, and just about any related field.

Fintech has enabled the growth of internet business, but what else is the financial services industry coming up with to make things easier, or more profitable, for themselves and their customers?

Fintech in banking

There are dozens of major fintech innovations in the banking sector, with none more ubiquitous than online banking. What was once an absolute niche product is now how most people conduct their finances, with many banks creating mobile apps to make life even easier while maintaining security.

More recently, fintech has enabled online-only banks – banks with no physical footprint at all. As of 2016, more than 12 per cent of people in the US used an online-only bank as their primary bank.

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Fintech in personal finance

For individuals, fintech has opened up the world of financial management and personal finance advice, with a slew of websites and apps allowing easy investment management with little to no face-to-face interaction required.

Even mortgages have stepped into the online realm, with many financial institutions adopting online platforms for mortgage information and application.

For financial advisors, fintech produces constantly-improving financial advisor software, which is available from companies such as This improves client management abilities, data security, and possibly even return rate based on statistical availability.

Fintech in financial risk management

For traders and insurers, fintech largely takes the form of improved risk management technologies. At a basic level, statistical analysis allows mitigating the risk to both themselves and their customers, while improving technology increases the speed and accuracy of the models.

More recently, these groups have begun to adopt AI neural networks to look beyond what they have modelled and to spot emerging trends or risks based on unfathomably huge data sets.

Fintech in payment processing

With business taking place increasingly online, much of the western world is moving away from a cash economy. Payment providers such as PayPal have paved the way for apps that turn phones into contactless payment devices and for peer-to-peer payment services offered by major banks.