The Benefits of Buying a Used Car

Before making a new car purchase, it’s wise to check out used car dealers first. Not only do you have the potential to save thousands of dollars buying a used car, but there are also other great benefits that go along with buying a slightly used vehicle.

After someone buys a brand new car and drives it off of the lot for the first time, the value of the car goes down immediately and drastically. Many Orange County used car dealerships and dealerships around the country sell practically new cars for thousands of dollars less. If someone buys a new car and then decides to sell it for another one right away, the price of the car, no matter how practically new it is, will be significantly lower than the actual brand new version simply because it was driven off of the lot.

Brand new cars are also very expensive to register. Every year, it will cost you hundreds of dollars more in taxes when you go to get new tabs. A used car that is just a few years older will save you money at the DMV.

Most brand new cars cost an arm and a leg to buy, which means that you will have to take out on a loan on it. Not only will you have to pay interest on the loan, but all loans require that you subscribe for comprehensive car insurance which is the most expensive type of insurance out there. If you go for a slightly used car that costs less, you can save up to buy it in cash, and you can also save yourself from the high insurance rates.

How to Fix Credit Rating – If You Are Wondering How to Fix Credit Rating, Read These 3 Golden Rules

Is your debt overwhelming? Do you fear applying for car or auto loans? Is the number of collection calls increasing? Do you avoid opening the late payment notification in your mail? Are you wondering how to fix credit rating? If this is the case, don’t get discouraged or depresses. Relax and take a deep breath. In the middle of an economic crisis many Americans share the same credit problems as you do. And some of them have already found that fixing bad credit is not as hard as it seems. Following 3 simple do-it-yourself rules can save you from a lot of financial stress and can boost your credit in no time.

1. Don’t pay for credit help if you can get the job done yourself. Many of the credit counselling places will charge you an arm and a leg to give you credit advice tailored to your specific credit situation. What you are actually paying for is knowledge about the inner workings of the credit system-how your credit score is calculated, which negative items on your credit report should get more attention etc. If you have the knowledge about the mechanics of the credit system, then you will be better equipped to deal with it and increase your credit score. However, you don’t have to pay a fortune for that. You can get that same valuable credit knowledge at little or no cost when you do the right research.

2. Don’t do everything the hard way. Find the easy way out. If you pay off all your debts in full, you will raise your credit score. What happens if you don’t have that extra money in your pocket? You can still find a solution for your debt. For example,if you can’t pay the balance on your credit card in full, do a balance transfer. Balances that are kept around the healthy 30% of the card limit affect you score positively. Simply do a balance transfer from the cards with high balances to the cards with low balances. If you want to add length to your credit history, add a co-authorized user on your credit cards – a person with credit history that is longer and better than yours.

3. Negotiate first before you make any payments. Negotiation is vital for a successful credit repair. If you do it the right way, you can manage to reduce a portion of your debt, change the installment plan, delete collections, late payments and charge-offs from your credit report.

So if you are wondering how to fix bad credit, stop right now-fixing bad credit is not hard at all. Save you cash, use the little known credit secrets and improve you score in no time.

What Is an ICO in Cryptocurrency?

ICO is short for Initial Coin Offering. When launching a new cryptocurrency or crypto-token, the developers offer investors a limited number of units in exchange for other major crypto coins such as Bitcoin or Ethereum.

ICOs are amazing tools for quickly raining development funds to support new cryptocurrencies. The tokens offered during an ICO can be sold and traded on cryptocurrency exchanges, assuming there is sufficient demand for them.

The Ethereum ICO is one of the most notable successes and the popularity of Initial Coin Offerings is growing as we speak.

A brief history of ICOs

Ripple is likely the first cryptocurrency distributed via an ICO. At the start of 2013, Ripple Labs began to develop the Ripple payment system and generated approximately 100 billion XRP tokens. These were sold through an ICO to fund Ripple’s platform development.

Mastercoin is another cryptocurrency that has sold a few million tokens for Bitcoin during an ICO, also in 2013. Mastercoin aimed to tokenize Bitcoin transactions and execute smart contracts by creating a new layer on top of the existing Bitcoin code.

Of course, there are other cryptocurrencies that have been successfully funded through ICOs. Back in 2016, Lisk gathered approximately $5 million during their Initial Coin Offering.

Nevertheless, Ethereum’s ICO that took place in 2014 is probably the most prominent one so far. During their ICO, the Ethereum Foundation sold ETH for 0.0005 Bitcoin each, raising almost $20 million. With Ethereum harnessing the power of smart contracts, it paved the way for the next generation of Initial Coin Offerings.

Ethereum’s ICO, a recipe for success

Ethereum’s smart contracts system has implemented the ERC20 protocol standard that sets the core rules for creating other compliant tokens which can be transacted on Ethereum’s blockchain. This allowed others to create their own tokens, compliant with the ERC20 standard that can be traded for ETH directly on Ethereum’s network.

The DAO is a notable example of successfully using Ethereum’s smart contracts. The investment company raised $100 million worth of ETH and the investors received in exchange DAO tokens allowing them to participate in the governance of the platform. Sadly, the DAO failed after it was hacked.

Ethereum’s ICO and their ERC20 protocol have outlined the latest generation of crowdfunding blockchain-based projects via Initial Coin Offerings.

It also made it very easy to invest in other ERC20 tokens. You simply transfer ETH, paste the contract in your wallet and the new tokens will show up in your account so you can use them however you please.

Obviously, not all cryptocurrencies have ERC20 tokens living on Ethereum ‘s network but pretty much any new blockchain-based project can launch an Initial Coin Offering.

The legal state of ICOs

When it comes to the legality of ICOs, it’s a bit of a jungle out there. In theory, tokens are sold as digital goods, not financial assets. Most jurisdictions haven’t regulated ICOs yet so assuming the founders have a seasoned lawyer on their team, the whole process should be paperless.

Even so, some jurisdictions have become aware of ICOs and are already working on regulating them in a similar manner to sales of shares and securities.

Back in December 2017, the U.S. Securities And Exchange Commission (SEC) classified ICO tokens as securities. In other words, the SEC was preparing to halt ICOs they consider to be misleading investors.

There are some cases in which the token is just a utility token. This means the owner can simply use it to access a certain network or protocol in which case they may not be defined as a financial security. Nevertheless, equity tokens whose purpose is to appreciate in value are quite close to the concept of security. Truth be told, most token purchases are made specifically for investment purposes.

Despite the efforts of regulators, ICOs are still lingering in a grey legal area and until a clearer set of regulations is imposed entrepreneurs will attempt to benefit from Initial Coin Offerings.

It’s also worth mentioning that once regulations reach a final form, the cost and effort required to comply could make ICOs less attractive compared to conventional funding options.

Final words

For now, ICOs remain an amazing way to fund new crypto-related projects and there have been multiple successful ones with more to come.

However, keep in mind everyone is launching ICOs nowadays and many of these projects are scams or lack the solid foundation they need to thrive and make it worth the investment. For this reason, you should definitely do thorough research and investigate the team and background of whatever crypto project you might want to invest in. There are multiple websites out there that list ICOs, we recommend checking this ICO calendar if you’re interested to invest in a crypto project.