Tag Archives: Fashion and Style Police Lifestyle Blog

New Year Resolutions

January 4, 2023 By in Lifestyle Tags: , , , , 2 Comments

Happy New Year everyone! Welcome to the amazing year of 2023. I am excited the new year is here and in full swing. 2022 felt like an incredibly long year, so it is good to have a fresh year to start off. The holidays were fun but it is back to work and school for us here, and I am looking forward to all what the new year brings. How did you enjoy the holidays? New year resolutions are always trendy at this time of the year; do you have any written out yet?

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New Year Resolutions

With the new year usually comes new year resolutions and it is always exciting to set them in the early days but sticking to them is another matter entirely. Back in the day, I started each year with a list of things i wanted to do or not do and it usually went south shortly after. Over time I have gradually stoped caring to compose a list and nowadays it comes even occur to me to create a list of resolutions. Now there is nothing wrong wIth having new year resolutions if they work for you. It works amazingly well for some of us but not so much for others, and that is the beauty of life.

I have found new year resolutions to be a complete waste of my time for the most part, and I prefer being intentional about every day living and work on creating the life I want on a daily basis. Living intentionally and setting daily resolutions work better for me, and I won’t have it any other way.

What do you think of new year resolutions? Do you have them and do you stick to them for the whole year? Please share your thoughts in the comments section below, let’s chat. Thanks for stopping by. Wishing you an amazing new year with all the goodness and blessings the world has to offer.

Cryptocurrency for Beginners: Spot or Margin?

December 23, 2022 By in Lifestyle Tags: , , , , 1 Comment

*Collaborative post.

Crypto trading is a way to make money on the cryptocurrency market, taking advantage of its volatility and price changes. The essence is to buy and sell crypto at different prices and sometimes even on different platforms. There are many trading tools offered on crypto platforms. Some of them will be too challenging for a novice trader, and others are less. Here are some of the most popular tools:

  • spot trading;
  • p2p exchange;
  • futures trading;
  • margin.

Let’s see which tool will be perfect to start trading cryptocurrency.

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Spot Trading

Spot means a person purchases or sells coins at the current prices, where assets are accrued to a trader immediately or shortly. That is why it is called “spot” – a person pays and receives coins on the spot.

Margin

This tool means a person borrows funds to enter the market with a better position and, thus, to receive a bigger profit. The main difference between margin and spot trading is that using the margin tool, a person pays only a small part of the sum from own funds, and all the rest funds are borrowed.

The key things to know about margin:

  • Leverage allows multiplying the initial amount of funds and entering the market with a more profitable position. For example, having the initial sum of $100, a trader can use a leverage of 5X and, in fact, enter the market with $500. That is, one borrows funds of $400 from an exchange. Leverage can be different depending on the platform you use.
  • Margin. Since the crypto market fluctuates constantly, prices do not keep at the same level. When the equity level decreases, crossing an established threshold (margin), you will have to add funds to your account or sell some assets (depending on where the market moves) to maintain the equity position set by margin requirements.
  • Collateral. Your initial investment (in our case, $100) serves as collateral. If you are not able to react to a margin call and add coins to your position, a platform can liquidate your position, and you will lose your $100. That is the biggest risk in margin trading.

Talking about beginner traders, we recommend using spot markets first and, along with receiving more practice, trying margin with the minimum leverage size. You can buy cryptos and apply any trading tool on the WhiteBIT exchange.

 

Six tips for investing in cryptocurrency

December 14, 2022 By in Lifestyle Tags: , , , , Leave a comment

*Collaborative post.

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Have you been bitten by the crypto bug ? If you a new to cryptocurrency and wondering how to go about investing in it, here are six tips you may find useful:

Do your research

Before you start any investment, it makes sense to carry out extensive research. Always check if crypto project is a scam. There is a lot of wrong information flooding about and there are also dubious characters looking to take advantage of the naive. Which is why it is important to take your time when it comes to investing in cryptocurrencies. Check out the project and platform inside out so there are no unpleasant surprises later down the line. Also, avoid coins that make crazy promises but have nothing to show for it. Remember the rule – “If it looks or sounds too good to be true, it probably is”.

Diversify your crypto portfolio

This is another great tip as it ensures you don’t put all your crypto eggs in a basket. Spreading your investment among various digital currencies means you are not at risk of over exposure which is good in this volatile market. When it comes to smart investment, diversify is the number one rule.

Shop around for crypto loan rates

If you are considering getting finance, it is worth shopping around for crypto loan rates for your investment. Different loans have various features, which is why it is best to shop around and find the right crypto loan for your needs. It is smart to pay attention to loans that have no extra fees and no monthly payments.

Don’t use all your investment capital

As with most things in life, it is sensible to start small with investing in crypto. The last thing you would want to do is to use all your investment capital at once and be left high and dry. It makes sense to use a proportion oof your investment capital (say 5%) when you are just starting off and gradually build it up as time goes by.

Be careful with mobile wallets

Mobile wallet can be very convenient to use but it also comes with a lot risks. Storing cryptocurrency on the mobile phone can be risky as your phone can easily fall into the wrong hands. It is safer to be traditional and keep your hard-earned investment in a safer place that is not easily accessible.

Expect the unexpected

As with most investments, the world of cryptocurrency is very volatile. It is safer to go in expecting the unexpected, that way you are mentally prepared for the ups and downs of the crypto coins, and you won’t be easily moved by how volatile the market really is. It is not for the faint hearted.

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Hopefully these six tips for investing in cryptocurrency would come in handy for the newbies. It is important to emphasise the need for extensive research before you commit to any currency. There are lots of resources online and you can also speak with a financial adviser for more support and guidance.

 

 

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