Category Archive : Business-Finance

How Bitcoin Differs From Fiat Currencies?

Bitcoin [BTC] is a digital currency generated and held electronically. They are not printed like euros and dollars, but created by worldwide computers, using open-source software. It falls under a growing asset class called cryptocurrencies. It can be used for online purchases when both parties involved are willing. It is the same as the traditional euros and dollars, which can be digitally traded.

How does BTC differ from fiat currencies?

Decentralization 

The Bitcoin network is not controlled by any regulatory body. Volunteer coders group maintains the open dedicated computer network spread worldwide. People, who desire to bypass their money transfers from government or bank institutions, get attracted to BTC. Banks makes adjustments to the ledgers when payments are made or received via online transactions. In BTC, transaction integrity gets maintained because no-one owns the open network.

Limited supply

Dollars, yen, euros and other fiat currencies have unlimited supply because the central bank has the authority to issue as many as are required to manipulate currency value related to one another. Currency holders have to bear the cost.

Alternatively, the bitcoin supply is controlled tightly by its original algorithm. Every hour a tiny amount of BTC trickle and continues to do so but at a reducing rate until it reaches 21 million maximum. Therefore, in theory, BTC is an appealing asset. With the growth in demand and supply remaining the same, its price will increase. It is time to buy BitCoins!

Pseudonymity [Disguised Identity]

Senders of traditional online payments get identified but theoretically, bitcoin users operate partly anonymous. There is no validator medium, so users do not need to verify while transferring BTC to another user. The user makes a request and the system checks every previous transaction to identify if the sender has necessary bitcoins and authority to transfer to another user. There is no need for her or his identity.

Each user’s identification is based on his/her wallet address. Law enforcement has a specific technique to identify bitcoin users if needed. The network is transparent, so the development of a specific transaction is perceptible to everyone. Therefore not a perfect option for money-launderers and terrorists.

Immutability [cannot be changed]

Unlike fiat currency transactions, Bitcoin transactions are irreversible. It is because BTC is not centralized. There is no central arbitrator that can agree to refund the funds. A BTC transaction recorded on the blockchain network cannot be modified. It even means no-one can tamper the bitcoin network.

Divisibility

Bitcoin’s smallest unit is called ‘Satoshi’. 1 Satoshi is equal to 0.00000001 bitcoin. 1 US cent is equal to 9419 Satoshi. Thus micro-transactions are possible with BTC but are impossible with traditional fiat currencies.

Bitcoins can be purchased on exchanges or directly from other people. Payments can be made in hard cash or wire transfers or credit/debit cards. To store bitcoins there will be a need for a wallet. It can be an offline, desktop, or online wallet. Make sure that you remember your wallet keys and password safely. If you lose them, then your stored bitcoin gets lost.

If necessary, bitcoins can be sold directly to family or friends or some interested buyers online. Be wise and avoid meeting strangers for exchange of BTC in person!

A Right Amount Of Insurance Can Protect Your Business By All Means

Running a cleaning business is not an easy task to accomplish. You have to face numerous amount of challenges to keep the functionality smooth. Challenges such as the safety of people and your staff, using the right amount of equipment and chemicals and finish the task at the given time. In a recent time, unwanted incidents have been noticed while performing the cleaning duties worldwide. As per the experts, it is recommendable to get liability insurance for cleaners to protect your business from the hefty amount of financial loss. Because when such incidents occur, then as a business owner, you might end up with spending at millions to protect your business from unwanted claims. Whether you are running a small or a large scale business, the right amount of insurance helps your business a lot. It protects your business and gives you the moment of relaxation at the time of the incidents. Find out some more advantages of acquiring cleaners insurance:

Protect your business: When a cleaner vacuum your carpet and all sudden a customer pops into your store and falls down just because of the wire laying in the middle of the store. This could be the normal or major injury cost to the customer. But why take risks and it is better and wiser to have a liability insurance. So that both the business and your customer stay protected.

Cover large amount: It is very hard to predict that incident occurs at your business worth how much? It may or may not cost you a tiny amount. And that is the other good reason you have to get the liability insurance for cleaners. From simple thousands of money to millions of claims gets entertained through a simple insurance cover. You can imagine when incidents occur, at that particular time, it is not an easy task to arrange the large amount of money to hand over to its claimed. So by your little initiative, you can bring the difference.

Resist your employee: Employee wants to work for the organisations which provide a safer working environment for them. And especially, in the field of cleaning business, the employee knows that they can meet up with an incident at any amount of time. So imagine, if you have obtained a right cover for them you can resist them for a long run.

Who needs such insurance?

Well, this is very interesting and wise question which everyone should know about it. The insurance needs to be acquired by those businesses where the cleaning task takes place on regular places. It could be restaurants, pubs, hospitals, shopping malls, clinics, convenience stores and so on. Concluding a right amount of insurance will not hamper your wallet. In fact, will protect you from unwanted incident claims.

As a successful and a sensible business owner, you need to think all the possible aspects of it. And acquiring the right insurance is one of the major parts of it which should not be neglected by you.