2021 is likely to experience relatively low and stable interest rates, especially after the pandemic dominated 2020. Experts predict that rates will stay low for the year, even though the economy faces significant risks and inflation. 

Furthermore, the Federal Reserve has stated that to promote recovery, they will not raise rates until 2023. You can check the average interest rates for various financial products, including mortgages, credit cards, and personal loans on Myfin.us. 

2020 was a roller coaster ride. The pandemic created havoc, forcing extensive lockdowns throughout the U.S., pushing the economy into recession. Fortunately, the Fed acted proactively, introduced emergency rate cuts, established various lending facilities, and increased its debt purchases to facilitate credit to individuals who needed it. As a result, markets stabilized, stocks surged, and debt prices firmed up. 

Experts now predict that in 2021 rates will be range-bound. In particular, rates controlled by the Fed. The current economic environment also indicates that the interest rates for student and personal loans will likely stay low in 2021.

Mortgage Rate Outlook for 2021

For 2021, Mortgage rates are have started low and are expected to move up gradually. Since most interest rates slid in 2020, mortgage rates were not an exception. This has made houses more affordable and increased demand. 

However, 2021 may become a volatile year for mortgage rates. With the widespread vaccination programs leading to robust economic activity, mortgage rates have quickly rebounded significantly. So, investors who want to take advantage of the low mortgage rates should act sooner rather than later in the year.

When it comes to existing home equity lines, there is good news for homeowners. They need not worry about rates increasing as Fed intends to keep them extremely low in the short term. New borrowers can get lower rates by year-end as lenders are expected to come up with new offers

Credit Card Interest Forecast for 2021: 

Unlike other financial products, Credit card rates are expected to climb. Credit card rates are behaving surprisingly in these uncertain times. Though the underlying rates are rising, the unusual behavior of credit card rates illuminates a paradox where some individuals are doing well while others are suffering.

You do not have to worry about the changing interest rates for existing cardholders because the Fed plans to stick with current level benchmark interest rates throughout 2021.

And as far as interest rates for new cardholders are concerned, defaults and delinquencies will result in a divergent forecast. The exact rates will move both up and down by taking into account the perceived risk and or creditworthiness of the individual.

Card Issuers can increase the rates for consumers with bad credit and high debt to mitigate the risk factor. However, at the same time, issuers are offering lower rates and better rewards to attract individuals with strong credit.

Personal Loans Interest Rate Forecast for 2021

Personal loan rates slid their lowest in 2020 because of the COVID-19 economic crisis. To provide some relief, the Federal Reserve drastically reduced interest rates, and fortunately, the low rates are likely to stay in 2021 as well.

Interest rates are expected to be steady this year. This means the interest rates are likely to be stable for 2021. Some say the rates  will remain low and stable for the next few years.

The competition among lenders is likely to increase shortly. So, there is a possibility that high credit, quality borrowers will get more attractive interest rates and more generous terms due to their lower risk of default.

That being said, credit availability for individuals with bad credit does not seem to change much in 2021. For such borrowers, lenders have reduced their offerings significantly. As a result, it may take well over a year for a complete recovery until the lenders feel comfortable giving more credit to risky borrowers. 

To Sum Up:

To make sound financial decisions, you will need to have a clear-cut idea about where you are in the economic cycle and what the coming year will bring to you. For instance, if you’re looking to take advantage of low mortgage rates, you need to act with diligence to avoid missing out.

2020 was an awesome year for cryptocurrencies as a hold with Bitcoin in particular hitting new highs.

Despite the instability of 2021, the market outlook for cryptocurrencies appears to remain bullish. In the midst of it all, comments from billionaire inventor Elon Musk have added to an already volatile situation.

With crypto prices continually hitting new records, it’s perfectly understandable to want to get in on the action. But the crypto market is extremely volatile and is no place for beginners.

The unregulated nature of the market means that scams and hacks are extremely common. That’s why you need to make use of a trustworthy Bitcoin wallet app… One that offers you a good mix of flexibility and security.

What Makes a Good Bitcoin Wallet

For the purposes of this article, we’ll be talking exclusively about hot wallets. Hot wallets are online-based tools that allow users to send and receive cryptocurrency tokens.

A good hot wallet should have solid security encryptions and allow for the quick transfer of funds.

Without a Bitcoin wallet, it will be impossible for you to store your cryptocurrencies. So, fire up your mining rig as we take a look at the best Bitcoin wallet apps available in 2021.

The Best Bitcoin Wallet Apps

1. Exodus

Easy-to-use with a simple interface, Exodus offers support for users on both desktop and mobile devices.

One of Exodus’s most interesting features is the ability to swap between more than 100 growing cryptocurrencies. Also, you’ll be able to purchase new cryptocurrencies thanks to its built-in crypto exchange feature.

An area of concern for some may be the closed source security protocols used by the Exodus team. The lack of transparency and reliance on the Exodus team for security is something that you should take into consideration.

Pros:

• User-friendly interface – ideal for beginners
• Able to swap between various cryptocurrencies
• Built-in crypto exchange features
• Good customer support

Cons:

•  
• Closed source security protocols can be an issue
• Limited in terms of features for more advanced crypto users

2. Electrum

Built for crypto investors focused on just Bitcoin, Electrum was one of the first Bitcoin wallets to appear on the scene.

Despite its basic appearance and lack of features, Electrum is heavily favoured by experienced Bitcoin enthusiasts and investors. For example, the wallet has more sophisticated security features that can be customized to suit the needs of users.

Also, the wallet allows for users to lengthen their seed phrase with custom words. 

Pros:

• High-level of security
• Additional customization
• Can customize seed phrase

Cons:

• Basic interface and lack of functionality
• Does not support other cryptocurrencies – just Bitcoin
• No customer support

3. Mycelium

Similar to Electrum, Mycelium was one of the earlier cryptocurrency wallets that were developed.

Unlike Electrum, Mycelium supports a variety of different cryptocurrencies such as Ethereum and FIO. The wallet comes with a built-in crypto exchange that lets you buy and sell tokens.

However, Mycelium is built to be usable on mobile devices only. But it somewhat makes up for this by being compatible with a variety of hardware wallets such as Trezor, Ledger, and KeepKey.

This allows you to keep your cryptos in cold storage while still keeping track of them with Mycelium.

Pros:

• Compatible with hardware wallets
• Supports multiple cryptos
• Open-source software

Cons:

• Can be complicated for less experienced users
• Mobile only

So there you have it – a summary of the best Bitcoin and cryptocurrency wallets available now. To find out some other top Bitcoin wallet apps for 2021 check this article from Tezro.

Just remember to practice good data hygiene at all times to keep yourself protected. Additionally, you should never rely on hot wallets alone to store your cryptos. Instead split your holdings between both cold and hot wallets.

Trading in the financial market is an attractive option for those who are seeking to start or build their investment portfolio. Whether it’s stocks, ETF, Forex, or other types of markets, there is great profit potential in trading in these markets. However, success in trading doesn’t happen overnight. It involves the right knowledge, preparation, and planning to climb up the trading success ladder. Also, the right attitude and mindset are essential in making wise trading decisions and keeping a cool head when faced with uncertainties in the trade. 

Yes, the world of market trading is a challenging one, but the rewards are great for those who are willing to learn. Here, we will share some things that you need to know and understand before you start trading.

Study the Different Markets

Do general research first, especially if you don’t have the slightest idea of what trading is all about. We mentioned that there are different markets where you can trade and invest, and it is essential that you get to know them first before selecting the one that fits your personality and trading preference. There are various resources in print and online that you can explore to get a good grasp of what you will be venturing into. If you are interested in trading foreign currencies, trading analysts and reviewers from https://www.trusted-broker-reviews.com/instaforex/ advise that you read online third-party reviews to get unbiased opinions, reviews, and assessments about brokers or trading companies. The same advice applies to other trades you might be interested in. It is reassuring to know if the broker or firm you will be choosing is regulated and licensed by relevant financial regulatory bodies from reading the reviews. 

If the firm or broker handles international clients or accounts, it should also have licenses from the countries or territories that have jurisdiction over its international trade activities. Research the payment methods as well to make sure that they are regulated for easy financial transactions. Once you are satisfied with the reviews and information you have gathered regarding your preferred trade market, you can proceed to the next stage of your preparation.

Focus on Learning Your Selected Trade

If you have reached the selection stage and have decided on a trading vehicle that suits you, then it’s time to focus your attention on that particular area. Think of trading as an avenue of continuing education. Focus your learning on the market and its intricacies and gain something out of it. Don’t stop studying even when you are actively engaged in trading. There are many things to learn and knowledge comes unexpectedly from your daily engagements in the trade. 

Continue pursuing research and study the influencing factors of your trade and market, such as economic trends, news events, and world politics. The more you study, the better you understand the facts about your trade market. You also get to improve your focus and observation skills to learn the nuances of the trade and formulate your strategic approaches when trading.

Take Advantage of Technology

The world of trading is highly competitive. Thus, you must make use of every available resource to your advantage, including technology. Remember that trading nowadays is very different from a few decades past. You can select a reliable stock broker online and open a brokerage or trading account. It is a wise idea to separate your trading account from your personal account to prevent financial overlaps.

Technology from online trading accounts also allows you to generate reports, charts, graphs to observe and analyze the markets. You are also able to avoid costly mistakes by performing backtesting on your developed trading strategy by utilizing historical data. Market updates are also essential in planning your next move, and you can conveniently receive them through your smartphone to keep abreast of the trading developments.

Handle Trading Like a Business

Treating your trade akin to handling a business is essential to your long-term success in this venture. The paycheck is not regular, and you have to regularly monitor movements in the market but as you progress in the trade, the payoff becomes worth it. Handling trading like a hobby does not evoke your commitment to continuously learn from the trade. Treating it as a job will also dampen your resolve to continue trading because you expect to receive a regular pay pattern. 

As early as now, you have to correct your mindset on how to go about in your trading venture. You may already know that aside from profit, trading also involves expenses, risks, taxes, uncertainty, and stress. Take inspiration from small business owners and learn from how they made their business thrive in a highly competitive environment. Do the same for your trade and develop strategies that can help maximize your profit potential, protect your capital, and minimize your losses.

Thorough education is a strong foundation for any undertaking, including trading. Whatever type of trading market you choose, it is wise to gain a strong foothold of it before you start treading the path of a trader. The journey involves uncertainties and risks, but if you persevere, have the right mindset, and arm yourself with knowledge, you can manage your trade effectively and achieve success in your investment.

4 simple steps to making money with cryptocurrency 

Cryptocurrencies have been around for nearly two decades. That doesn’t mean that it’s too late to get started. The sooner you start investing in cryptocurrency the better returns you will witness. 

Cryptocurrencies are so unlike any other form of investment that many people are too intimidated to get involved. Our aim today is to talk you through the four simple steps that will get you started in making money from cryptocurrencies. 

Research types of cryptocurrency 

The first step is the most time-consuming step (and probably the most boring step) but it is not something you should rush. 

You would never jump into a traditional investment without a vast amount of research. And cryptocurrency should be no different. 

Take the time to look into both new and existing types of cryptocurrency. Make sure you know what currencies are growing, what are shrinking, and which ones are on the verge of collapse. 

Think about whether you want to put your money behind a new form of cryptocurrency, or whether you want to back a well-established giant (like Bitcoin). Both of these have their benefits, but if you only have a small amount to invest with you will get more bang for your buck with newer currencies. 

If you are interested in the price development of cryptocurrencies be sure to check cryptoheat map.

Listen to the currencies that the experts are talking about. Read articles from this year (the market changes so quickly, you need to make sure your information is up to date). 

Find the right place to buy it 

Once you have decided which Cryptocurrency you want to invest into then you will need to find the right place to buy it. Many people see purchasing cryptocurrencies as a Wild West situation, or as an exclusive club. 

It is quite the opposite. Cryptocurrency is one of the most accessible forms of investing. Anyone can do it.  The process of buying it on a website like Immediate Eurax AI is also very civilized.

Yes, you may come across the occasional cowboy who is trying to scam you. But there are many well-trusted and regulated trading platforms out there. You can also visit the website Coinswitch for an extensive guide on how to trade using cryptocurrency.

Some websites like the immediatevortex.app provide advanced charting and trade signal solutions that will give you an extra edge over other traders.

The right place to buy cryptocurrency really is an established trading platform. Not only do they offer an unrivaled level of security, but they also offer many bonuses for using their platform. For example, the Bitcoin trading platform Binance offers binance bonus for signing up for their service. 

Taking advantage of these offers can lead to a bigger wad of cash in your pocket. 

Find the right place to store it 

Many people are under the misconception that you don’t need to store cryptocurrency. Cryptocurrency is not a physical object, so why do you need to worry about storing it? Well, cryptocurrencies are still vulnerable to theft, despite not being a physical item. 

Many people have lost thousands of dollars because they haven’t stored their chain links correctly. So, how do we recommend storing cryptocurrencies? Well, in a crypto wallet, of course. 

No, these aren’t physical wallets. They are a type of software that allows you to rent out a secure location online to store your cryptocurrency. These wallets provide top of the line security and some will even allow you to take out insurance on your cryptocurrency –  against theft and hacking. 

Some crypto wallets we really love are: 

• Ledger Nano X 
• Zengo 
• Electrum

Learn when to sell it 

This is definitely the hardest step on this list. But it is undoubtedly the most important step. Learn when you should be selling your cryptocurrencies. 

When it comes to this final step, cryptocurrencies are very similar to stocks and shares. There is no set ‘right time’ to sell and the markets can be unpredictable. These types of investments are always a risk on some level. But taking risks is what leads to the best rewards. 

There are a variety of tools you can use to maximize your profit with trading. One of the most interesting tools is Bit Index AI which can manage trading your portfolio.

The key to getting this step right is to do your research. We’re sorry that it isn’t something more glamorous. However, if you get this step wrong then all the hard work you put into the other three steps will have gone to waste.  Be sure to check local resources like Cryptocurrency in Australia to ensure you have the best information.

So, how can you tell when a cryptocurrency’s value has peaked or is about to drop? There is no definite way to tell. However, there are many cryptocurrency experts watching the market closely and putting out regular reports on when to sell. 

Keep an eye on reports like this from experts. Study the market for yourself. Remember that there is always a risk that comes with this kind of investment. And accept that you won’t always get this choice right. 

Recently BofA analyst Francisco Blanch issued a report called “Bitcoin’s Dirty Little Secrets”. The long-form-pdf file states “there’s no good reason to own bitcoin unless you see prices going up.” And A “single Bitcoin purchase at a price of ~$50,000 has a carbon footprint of 270 tons, the equivalent of 60 [internal combustion engine] cars. So that becomes the question of the day. Is one bitcoin worth 60 cars?

Is Power Consumption an issue with Bitcoin

Keeping in mind that this same investment advisor has also stated Bitcoin is “exceptionally volatile”, “impractical,” and an environmentally disastrous asset that is useless as a store of wealth or an inflation hedge. Of course, none of these statements address the fundamental question – Should I buy Bitcoin now?

Argument For Deferring Bitcoin Investment because of Power Management

The nature of Bitcoin is that the currency is based on a computational hash. Any commodity is priced according to its rarity. Gold is more expensive than Silver because it is less common. Diamonds are more expensive than Amethyst because it is less common. Bitcoins are “rare” because there is an intentional computation that makes new bitcoins harder to find. This process is called mining, and Bitcoin miners use power to create more bitcoins.

Worldwide Bitcoin mining uses a huge amount of computational power and needs electric power to run. The total power consumption is balanced against power price – as it would be impractical to mine if the cost of electricity exceeds the cost of Bitcoin. So as the price of Bitcoin goes up, more people mine it, and the more power is consumed by Bitcoin mining operations.

The Argument Against Deferring Bitcoin Investment because it Wastes Power

Unless you live in a tent, everything else in your life is balanced by this same power management discussion. For instance, your ability to travel on vacation is directly tied to airline tickets’ price, which is tied to the airline’s fuel cost. If fuel is cheap, you go far away, and if fuel is expensive, you stay close to home. I have never heard someone say they will defer a vacation because it would increase worldwide power consumption. The Bank of America analyst will not turn down the AC in his office because he is concerned about worldwide fuel consumption. To mix a personal choice with some over-arching goal is privileged thinking. Why not point out that the entire investment industry misuses computational resources to effect fast trading because slower trading would use less power? Newer computers use less power, so why does Bank of America still use old computers in their operations?

What is the True Argument?

The author points out that the bulk of the Bitcoin Power Consumption problem is because Chinese miners use Coal Based power which is cheap in their area. Suddenly privilege markers abound because he mixes ethnic bias and nationalism into his discussion. The implication that power usage by Chinese people is bad leaves unstated that power usage by privileged Americans, which one a per-capita basis is four times higher.

The author is simply pulling out garbage arguments to save his privilege and his job. Bitcoin is just as valid an investment as S&P 500 index funds. No one knows if it will go up today or down tomorrow. What people know is that over the past 20 years, it has consistently gone up. Past performance is not an indication of future results.

Is Bitcoin a Worthy Investment?

If you invested $1000 in Bitcoin in January 2017 (1 bitcoin), your investment would be worth approximately $60,000 today. If you invested $1000 in the popular S&P ETF called SPY – (4 shares), your investment would be worth $1558 today. So over four years, SPY has returned about a 50% rise in value. Bitcoin has returned a 6000% rise in value  Bank of America’s investment advisors charge approximately 2% per year to manage your account. So over four years, they would charge $80 for your SPY investment, lowering the net gain to only $300 for the four years. On the other hand, no advisor charges for Bitcoin, so you get the full rise in your pocket.
The Bitcoin Empire app offers a user-friendly interface, real-time market data, and advanced features for secure Bitcoin trading. It’s a smart choice for both beginners and experienced traders.

You can see that Bitcoin is a far better investment than Bank of America advisors can offer you. That is why they write garbage-filled misleading points that one Bitcoin will feed Chinese Menace Coal Miners and destroy the world.

You can easily offset the problem after Bitcoin makes you marvelously wealthy by donating a portion to the University of Sichuan to help disadvantaged Chinese youth. Do not forget to donate to the Unemployed-Investment-Advisor’s Children’s College Fund.

How to buy Bitcoin

Bitcoin is not easy to buy. It takes many forms. The more you learn, the more lost you can feel. There are also many investment rules to follow. You can buy Bitcoin or any alternative like Ethereum, or Dogecoin, or Stellar Lumens. US Tax rules mean you cannot easily hold Bitcoin in an IRA.

One easy way to invest in Bitcoin is to purchase an ETF that holds Bitcoin. As an ETF, you can do this with your IRA. Also, the tax consequences are clearly defined since you are simply holding an ETF. The common EFT for Cryptocurrencies are Grayscale Bitcoin Trust (GBTC) or Grayscale Etherium Trust (ETH).

You can also buy Defi coins, which don’t have power requirements. How to buy Defi coins, like other cryto is a simple online purchase.

You can use Qumas AI to capture crypto volatility trends and trade cryptocurrency easily.

You can also purchase stock in companies that operate as miners like RIOT, or Bitcoin Exchange platforms like Coinbase. The stock movements in these companies follow the price of Bitcoin. Finally, there are hybrid bitcoin plays like Overstock (OSTK), which use to sell goods but became a big player in Bitcoin, PayPal (PYPL), and even NVDIA (NVDA), which makes chips that optimize bitcoin mining even though they are trying to get out of this business.

Bitcoin is an Easy Investment

You should never invest all of your capital in a single investment. Bitcoin is volatile. At worst, it has at times dropped more than 90% of its value. That means a $1000 investment today might become $100 tomorrow. But over the past ten years, Bitcoin has proven to be a durable asset with explosive value. If you can spare some play money today, perhaps in four years, you will again see something that matches past gains.

Note: The author has been long GBTC since Bitcoin was $400, and often smiles broadly.