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Understanding what crypto trading pairs are is important for all levels of trading, whether new to the market and looking to buy cryptocurrencies or wanting to engage in advanced arbitrage strategies.
While the concept has been around in the stock markets for a while, it came about in the crypto industry due to a number of exchanges only allowing bigger cryptocurrencies like Bitcoin and Ethereum to be purchased with fiat currencies. While other cryptocurrencies were available on the platform, they could only be bought by trading BTC or ETH. Hence, it became necessary for a relationship to be established in terms of value between the cryptocurrencies being exchanged for one another.
When it comes to investing in cryptocurrencies there are plenty of options available, it only makes sense that markets open allowing one digital asset to be traded for another.
Crypto Trading Pairs Explained
Every cryptocurrency has an established value against a fiat currency, while this will continuously change depending on the market conditions affecting it, the use of the same fiat will remain. Most sites default to present a cryptocurrency's value in USD, however, they also allow for changes to be made (to GBP, EUR, etc). This is referred to as a base currency.
A trading pair is when two cryptocurrencies can be traded against each other, as opposed to a cryptocurrency and fiat. For example, BTC/LTC, or ETH/DOGE. In order to acquire the one, the other will need to be exchanged. In this case, the base currency is now a cryptocurrency.
If you would like to buy DOGE with DOT but the exchange does not have this trading pair available, you would need to exchange DOGE for BTC, and then buy DOT with the BTC. Unfortunately, this will incur more fees, illustrating the convenience of trading pairs.
How Do Trading Pairs Work?
Exchanges typically allow you to compare costs between cryptocurrencies, i.e. how much Bitcoin you will need to pay for Litecoin. If you are unable to load your account with fiat, you can still trade using cryptocurrencies, depositing one and trading it for another.
Trading pairs allow you to establish a cryptocurrency's value in terms of another cryptocurrency.
Say you buy ETH/LTC, this means that you are buying ETH in exchange for LTC. LTC is then the base currency. If you were selling ETH/LTC, you would be selling ETH and accumulating LTC. Ethereum and Bitcoin are the most common base currencies, however, the bigger the exchange the more trading pairs are on offer.
Before engaging in any trading pairs take a look at the fees and taxes associated with the trade on the exchange's website, as sometimes some cryptocurrencies can incur higher fees.
In Conclusion
Trading pairs are when a cryptocurrency is valued against another cryptocurrency and capable of being traded for one another. Trading pairs provide an essential role in the crypto economy. These days there are hundreds of trading pairs on offer, allowing traders to make informed decisions, find better prices, and perform a greater number of transactions.
Getting paid in cryptocurrencies has opened the global gig economy to endless opportunities. Gone are the days of needing to be in the same country, or even on the same continent, as your employer. Cryptocurrency jobs are not only more accessible but also more acceptable.
In this article, we’re breaking down where you can find jobs that specifically pay in cryptocurrencies. Before we do though, let’s touch base on the advantages the new digital currency realm is offering.
The Advantages Of Being Paid With Blockchain Technology
The ever-evolving blockchain industry is now integrating cryptocurrencies into traditional job markets, from temporary gigs to full-time jobs, anyone can now get paid in crypto.
The decentralized world of cryptocurrencies provides many demographics with many advantages. For employees, these advantages allow the job market to be blown wide open as international payments are now easily accessible and don’t come with high transaction costs and delays.
Due to the nature of crypto transactions, payments can be executed in a matter of minutes with minimal transaction fees offering a quick and cost-effective solution to moving money across borders. The minimal transaction fees also allow freelancers to take on many smaller projects, an opportunity otherwise impossible with international fiat transactions.
Arguably the biggest advantage to cryptocurrency jobs is that anyone anywhere can now work for anyone anywhere, as borders are no longer a consideration. With many freelancers turning to remote work after the pandemic, the opportunity to work on international projects and be conveniently paid for doing so has increased dramatically.
No matter your skill set or ability, there is likely a business out there willing to hire you.
Where Job Seekers Can Connect With A Crypto Job Board
LaborX is a job board-style website that connects employers with employees, covering everything from small temporary jobs to full-time ones, from data scientists to marketing managers. The platform also offers a wide range of cryptocurrencies as payment options.
LaborX is owned and operated by a blockchain company that also offers HR software solutions, which makes it feel more accountable and solid.
Despite what the name suggests, Jobs4Bitcoins offers a range of crypto-paying jobs. Run as a Reddit channel, r/Jobs4Bitcoins, the forum allows anyone to post a job they require or skills they can provide.
While not run in the traditional job-seeking website sense, the opportunities for finding work and self-promotion are endless. There is obviously no vetting of employees or employers, however, so bear this in mind when engaging on the platform.
Blocklancer matches job seekers with job providers and pays in Ethereum. If you’re not fond of Ethereum, no problem, you can easily trade it for another cryptocurrency or fiat currency through the Tap app once you have received the funds.
The platform covers a wide range of jobs, from research analyst to content creator to experts in the field of blockchain and ICOs. It also offers an option allowing users to help mediate disputes.
If the formal job market is not what you are looking for, you can earn tips in Bitcoin for offering suggestions. Not only Bitcoin, you can also earn Bitcoin Cash, NANO, and Tezos.
Users post their questions and then should they find your idea or suggestion helpful, will tip you.
PompCryptoJobs was created to connect job seekers with providers within the crypto space. The platform caters to an extremely wide range of fully-paid crypto positions, from writer to product designer to data scientist.
The platform is professional, neat and informative, and is used by some of the biggest companies in the crypto space.
Whether you're a research analyst, marketing manager or data scientists, there are plenty of job opportunities that pay in crypto.
Final Thoughts: How To Get Paid In Crypto
If you’re unsure on how to go about getting an account that enables you to be paid in Bitcoin or other cryptocurrencies, look no further than Tap.
Tap offer to freelancers and self employed accounts, enabling you to receive payments in both crypto and fiat currencies. When creating an account, you will immediately gain access to a number of crypto wallets, as well as dedicated money accounts from where you can access the individual wallet addresses. Simply send the wallet address to your employer and the funds will clear in minutes (depending on the network).
On top of that, Tap also allows enables you to pay your bills and everyday purchases with your Tap card to spend your fiat and cryptocurrencies in a swipe of the wrist.
You might have come across the term p.a. in traditional investment cycles, but how does it relate to crypto? In this article, we’re breaking down what p.a. means, how to get in on it and how it relates to the crypto industry.
What does P.A. mean?
P.a. is an investment term that stands for per annum. This refers to the interest an investor can gain over a year's period and provides insight into the yields that the investment will generate. This is calculated on a simple basis and not compound.
You might see digital wallet platforms offering reward rates of 8% p.a. Or 14% p.a., this tells the potential investor that the platform will provide 8% of the initial investment, over a 12 month period.
PA can also stand for price action, a popular term used on crypto Twitter. In this piece we're focusing on the annual interest rates version.
How can users make money with crypto assets?
There are several ways in with industry participants can earn cryptocurrency. Below we outline the most widely used, and safest options. Be sure to check each option with the relevant blockchain network as these will differ from network to network.
Crypto Mining
Crypto mining can be a lucrative means of generating a passive income, however, the costs might run high depending on where you live and what cryptocurrency you are mining. Each network has its own way of minting new coins, which require different hardware and electricity means.
Bitcoin, for instance, is a Proof of Work network that requires miners to use large amounts of energy as they race to finish a complex cryptographic puzzle. The first to complete this is rewarded with mining the next block and receiving the associated payoffs.
Bitcoin requires a large amount of electricity, not practical in areas with high electricity costs, and either a graphics processing unit (GPU) or an application-specific integrated circuit (ASIC), which can also be costly.
If you wish to get involved with mining cryptocrrencies be sure to do adequate research on what will be required and what income this could generate before investing any money.
Crypto Staking
Crypto staking is an alternative minting solution for Proof of Stake networks, such as Cardano and soon-to-be Ethereum. Crypto staking requires users putting their funds in a smart contract usually for a predetermined lock up period to confirm transactions on the network. This will typically require a minimum amount, so as to ensure that individuals hold a “stake” in the network and will act on good intentions.
When crypto traders stake the minimum balance, a node will deposit these funds into a staking pool on the network, similar to a deposit. The bigger the stake, the higher the chances of that user, now referred to as a node, being chosen to verify transactions. When the node is chosen to confirm transactions, they will create a new block and receive a reward for adding it to the blockchain.
Reward rates are specific to each blockchain network so be sure to check the details relevant to platform on which you wish to stake. As a security mechanism, the staked coin in the network is typically taken away if the node acts with ill intent.
Passive Income
There are a number of crypto initiatives that allow users to earn passive income through their crypto assets. These work in a similar way to holding funds in a wallet, however, these wallets will likely be on a cryptocurrency exchange or DeFi wallet and the user will typically not be able to access the funds for a certain period of time.
Over the duration the user will earn interest as stipulated in the initial agreement. Note that p.a. Values are subject to change with market fluctuations, rising when prices rise and falling when an asset’s price takes a dip. This typically works in the same way as a savings account.
Its worth noting that the onus lies on the traders to pay taxes on any income generated. It is important to check the crypto specific tax laws in your region.
Disclaimer: This article is intended for communication purposes only, you should not consider any such information, opinions, or other material as financial advice.
Investing is not as easy as the internet makes it seem, with every profit comes plenty of research behind it. Not to mention all the strategies. Similar to trading, investing can at times be time-consuming and demanding. While investing, whether in the stock market or cryptocurrencies or any other asset classes, is beneficial in so many aspects, it can also come with some trial and error. In this article, we take a look at the time-tested dollar-cost averaging and explain why this is considered to be a low-risk strategy.
What is DCA?
DCA is an abbreviation for dollar-cost averaging. You may be wondering what DCA is? To put it simply, DCA is an investment strategy that sees people investing gradually over time rather than dropping a lump sum of money into assets.
Let's say an investor has a total of $10,000 to invest monthly, lump-sum investing would see them entering all that money into an asset market while DCA would have them investing $500 each week or month. Not only does DCA provide your leeway to pay your bills while still investing, but it also protects you from excess loss. While lump-sum investing does have its perks, it also has the potential for big losses.
By investing only what you are willing to lose, you are at no risk of financially crippling yourself. DCA ensures you do not lose all your money on an investment, whereas one wrong trade in lump sum trading can greatly set you back. DCA is a great way for newbies to test the markets and trust in an investment before moving forward, seasoned traders are also a fan of DCA as it allows them to diversify their funds in a more structured way.
The point of DCA is to avoid market watching and big losses, DCA is the practice of routinely investing smaller amounts, timed over regular intervals, regardless of price. This typically allows the investor to buy an asset at an average cost of a long period of time.
Why and how to use DCA
The how is easily answered, as already stated prior, it is as simple as allocating a set amount aside each month with the plan to invest. You invest your set amount a month routinely, regardless of the price, growing your total shares. But the real question is why? Why is this strategy so popular and why is it so highly recommended? Let's get into it.
The benefits right from the get-go are clear, you hold less risk of losing everything at once. As the traders' tale goes, only put in what you are willing to lose. Lump-sum investments do not take this approach with caution, putting it all on the line, or a large portion at least.
DCA means that you are continuously putting in small amounts that do not greatly limit your day-to-day life while still growing the value of your portfolio. DCA is a longer-term investment strategy. It also eliminates some of the risks involved with investing.
With DCA, the markets don't matter, you are buying your assets at whatever price they are at and reaping the profits when the price climbs. But also, by purchasing every week rather than all at once, you have the option and ability to buy in on the volatile markets getting better prices per share than someone who puts it all in at once.
This strategy also helps you manage emotional investing, forcing you to hold onto your investment despite FUD being spread, ensuring you don't sell low or buy high.
The DCA conclusion
While there are many investment strategies out there, this is a favoured strategy by many investors, that is not to say it is the only or best strategy, just one to consider. There are many perks that come with DCA, and that's what we wanted to highlight in this piece for you today. DCA provides a sense of commitment that is hard to find, ensuring you secure your space in the market without any added risks. There will always be risks involved with investing, but the DCA strategy finds some ways to minimise those risks in comparison.
Understanding what fiat on-ramps and off-ramps are will play a pivotal role for those looking to incorporate cryptocurrencies into their day-to-day lives. These “ramps” ensure a seamless experience integrating the use of both fiat currencies and cryptocurrencies. In this article, we explore the difference between the two and why they play such an important role in cryptocurrencies going mainstream, as well as the greater crypto ecosystem.
What is a fiat on-ramp?
Fiat on-ramps serve as important gateways that make it possible to convert traditional fiat currency (e.g. Euros or US dollars) into cryptocurrencies (e.g. Bitcoin or Ethereum). They act as bridges, connecting the world of fiat money with the exciting world of digital assets.
Through exchanges, brokerage services, and peer-to-peer platforms, these on-ramps provide convenient and accessible ways for individuals to enter the world of crypto. When using a fiat on-ramp, it's crucial to keep a few key considerations in mind. You'll want to ensure the security of your transactions, be aware of any fees involved, and fulfil any necessary verification requirements.
A fiat on-ramp can also be referred to as a fiat gateway or a crypto on-ramp.
The advantages of fiat on-ramps
Fiat on-ramps come with a range of benefits that make them a great choice for those entering the crypto world. One major advantage is the ease that an on-ramp can offer newcomers, providing a simple way to dive into the crypto market without needing extensive technical knowledge.
Additionally, an on-ramp typically opens up a wide array of cryptocurrencies to explore, expanding investment opportunities.
The disadvantages of fiat on-ramps
However, it's essential to be aware of the potential challenges and risks involved. Things like regulatory compliance and the risk of encountering fraudulent platforms or scams can pose concerns. To stay safe, it's important to do thorough research, read user reviews, and choose a reputable fiat on-ramp with strong security measures and regulatory compliance.
What is a fiat off-ramp?
Fiat off-ramps play an equally vital role as on-ramps in the world of cryptocurrencies by providing a way to convert digital assets back into fiat currency. Essentially, they serve as exit points from the crypto market, allowing users to cash out their investments and sell crypto.
Through crypto exchanges, peer-to-peer platforms, and even cryptocurrency debit cards, fiat off-ramps facilitate the seamless conversion of cryptocurrencies into fiat money. However, it's important to consider a few key factors when using an off-ramp.
Factors such as withdrawal limits, fees, which fiat currencies are supported and tax implications can impact the overall experience. Being mindful of these considerations ensures a smooth transition from the crypto world back to fiat currency while optimizing returns.
Fiat off-ramps can also be referred to as fiat gateways or crypto off-ramps and refer to the same off-ramp solution.
The advantages of fiat off-ramps
Fiat off-ramps offer several benefits that make them valuable for cryptocurrency users. One key benefit is the liquidity they offer, providing a way to convert digital assets into fiat currency whenever needed. This accessibility provided by a fiat off-ramp allows users to access their digital currency funds easily and use them in the real world.
Another advantage of an off-ramp is the ability to realize profits from cryptocurrency investments quickly, turning virtual gains into tangible returns. However, it's important to be aware of potential challenges and risks.
The disadvantages of fiat off-ramps
Several considerations to take when looking at using an off-ramp center around transaction fees and regulatory concerns. Note that transaction fees can eat into profits, and regulatory considerations may affect the ease of converting cryptocurrencies into fiat currency. To navigate these challenges, it's wise to choose a reliable fiat off-ramp by conducting thorough research, reading user reviews, and ensuring they comply with regulations. By doing so, individuals can make the most of fiat off-ramps while effectively managing associated risks.
The connection between fiat on-ramps and off-ramps
Fiat on-ramps and off-ramps are tightly interconnected within the cryptocurrency ecosystem, forming a crucial link in the cycle of converting between fiat currencies and digital currencies. The availability and efficiency of an on-ramp and off-ramp significantly influence the overall liquidity and adoption of cryptocurrencies.
Seamless on-ramps enable easy entry into the crypto market, attracting more users and boosting liquidity. Likewise, efficient off-ramps allow investors to convert their digital assets back to fiat money, providing the necessary flexibility and enhancing the adoption of cryptocurrencies in everyday transactions.
Reputable platforms like Tap exemplify this connection, offering both on-ramp and off-ramp functionalities to facilitate smooth conversions and foster a thriving crypto ecosystem. With a wide range of supported cryptocurrencies and fiat currencies, the platform caters to users around the world looking for a seamless ramp solution.
In conclusion
We've explored what a fiat on-ramp and off-ramp are, and the crucial role that they play in the world of crypto assets. We discussed the key points, including how an on-ramp facilitates easy entry into the crypto market and an off-ramp allows crypto users to convert digital assets back into fiat currency.
It's essential for cryptocurrency users and investors to understand these concepts as they provide liquidity, investment opportunities, and the ability to realize profits (in fiat currency). Looking ahead, the future of fiat on-ramps and off-ramps appears promising. As the cryptocurrency landscape continues to evolve, we can anticipate exciting advancements in these gateways, making crypto assets more accessible and further driving their adoption into mainstream use.
If you’re in the process of applying for a passport chances are strong that you already know the importance of needing one. Whether you’re in a terrible hurry because you forgot to check the expiry date before booking your trip or maybe lost your passport ahead of an urgent cross-border meeting, we’ve got you covered. The UK offers a service that allows applicants to fast-track their application.
Find everything you need to know about the process below, including the fees involved. And why might we, a fintech platform, be informing you about fast-tracking passports? Because we’re in the business of travel. With our world-friendly app that allows users to seamlessly switch between currencies as they swipe their cards around the world, we understand not every process is this simple. Now that we’ve covered that, let’s get into why you’re really here.
How to fast-track your passport application
Getting a passport in the UK can sometimes be a lengthy process, but luckily there are options available to speed things up. Normally, it can take up to 10 weeks to receive a new passport through the standard application process. While it may be quicker in some cases, it's always best to be prepared for a wait.
The one-week fast-track option
The first option is the 1 week Fast Track service. This service allows you to renew an adult or child passport, replace a lost or stolen passport, or update your details. You can book an appointment for this service up to 3 weeks in advance and will need a debit or credit card.
How to apply
To apply for the 1 week Fast Track service, follow these steps:
1. Visit your local Post Office branch to obtain an application form (these are not available online).
2. Book your fast-track passport appointment online.
3. Pay the fee.
4. Take your completed application form and the required supporting documents to your appointment. There is a booklet accompanying the application form that provides a list of the necessary documents.
5. Once you have completed these steps, your new passport will be delivered to your home address within a week of your appointment. It's important to note that someone needs to be present to sign for the passport upon delivery.
The costs*
The cost for the 1 week Fast Track service is £155 for an adult passport and £126 for a child passport.
The same-day fast-track option
If you need your passport even faster, there is also the Online Premium service. With this service, you can collect your new passport on the same day as your appointment. However, please note that this service is only available for adult passport renewals issued after 31 December 2001.
If you have an adult passport issued before this date, you will need to use the one-week fast-track service or the standard application process.
How to apply
To use the Online Premium service, you can simply apply and book an appointment online. The earliest appointment you can get is 2 days after applying.
The cost*
The cost of this service is £193.50 for an adult passport.
Who can use these services?
It's important to know if you are eligible for these fast-track passport services. If you are applying for your very first UK passport, unfortunately, you won't be able to use either of the fast-track services (unless applying for a child's first-time passport in which case you can use the one-week fast-track option). For everything else, you will have to go through the standard application process instead.
In conclusion
Remember, it's always best to plan ahead and apply for your passport in advance to avoid any last-minute stress and government regulation curveballs. However, if you do find yourself in need of a passport urgently, these fast-track services can be a lifesaver.
If you have any further questions or need additional assistance, don't hesitate to reach out to the appropriate passport office or visit their website for more information (listed below). They will be able to provide you with the most up-to-date details and guidance regarding the fast-track process.
*Please note that the fees were correct at the time of writing and are subject to change. Check the website page listed below to find the relevant information.
References:
- GOV.UK - Passport application service
- GOV.UK - 1 week Fast Track service
- GOV.UK - Online Premium service
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