Category Archives: Money

Important Money Questions Everyone Should Ask Themselves

Important Money Questions Everyone Should Ask Themselves

The importance of having money can’t be overlooked given the fact that we need money to live. Without money, it’s impossible to get food, shelter, clothing, medicine, education among many other basic needs. It also takes money to get the better things in life. No wonder people spend a lifetime trying to accumulate enough money. But do most people understand money? In an effort to help you know if you understand the most important things about money, here are some important money questions to ask yourself.

What is money?

Most people think of paper money when they think of money. However, anything can be used as money as long as it is deemed valuable by the parties engaging in a transaction. Originally, valuable commodities such as gold and silver were used as money. Paper money was simply used to back gold among other valuable commodities in an effort to ease trade as well as solve other problems associated with using commodities as money.
This however changed with the birth of fiat money (money declared as legal tender by governments) but isn’t backed by valuable commodities like gold. Fiat money is dependent on the faith people have in an economy as well as the debt levels of that economy. If people lose faith in a country’s paper money (fiat money), the money will seize being valuable. This highlights the importance of using money to buy tangible assets as opposed to valuing and storing money in its paper form. It is hard to get financially independent if you don’t understand what money is in the first place.

Why am I in my current financial situation/status?

This is another crucial money question everyone should ask themselves. You are where you are financially because of the financial decisions you have made in the past. If you are in a better place than you were years ago, you have been making good decisions. If not, you need to identify your mistakes and move on. The best ways of identifying bad financial decisions is; reflecting on your past decisions. You need to ask yourself other questions. For instance; do you budget? Do you follow your budget? Is your budget balanced? Do you invest? How much risk do you take on? Are you in debt? How did you spend past loans? If you don’t make an effort to find out why you are where you are financially, it will be difficult to progress. It doesn’t matter if you are doing well or not currently. Just find out why you are in your current financial status to be able to take the necessary action

How do I attain financial freedom?

Financial freedom can be defined as the state of having enough money to cater for all living expenses without having to ever work again. Rich people have financial independence. As long as their money is invested in activities that generate recurrent income, they never have to work another day in their lives. The importance of figuring out how to attain financial freedom can’t, therefore, be overlooked when talking about money. If you aren’t asking yourself this question on a daily basis, then your chances of being rich are slim.

In fact, asking yourself this question is the first step to becoming rich. There is no need of working hard and earning a lot of money if you are not thinking of ways of making your money work for you. There will always be something to spend your money on so, if you keep spending without investing, you will keep working for the rest of your life. You should focus on investing and gaining recurrent income streams instead. After working hard for decades, you should sit back and let your money work for you. Investing in financial education is the best way to start discovering how you can generate income for a lifetime without having to work every day.


If you are able to ask yourself and answer these three money questions, you will be a step closer to financial freedom. Start by understanding what money is and why you are where you are financially. Proceed by understanding what you need to do to make sure you attain financial freedom. Seeking financial education is a good place to start.

Is the Company Director of Swift Money Limited.
He oversees all day to day operations of the company and actively participates in providing information regarding the payday/short term loan industry.

How Do You Ask Your Bank For A Business Loan?

How Do You Ask Your Bank For A Business Loan?

One of the biggest hindrances that people face when starting businesses is; lack of capital. This hindrance can be easily eliminated if you understand what banks look for when selecting borrowers. You can make it easier for yourself if you understand what you want to do with the loan in the first place. Here’s everything you need to know about asking your bank for a business loan.

1. Understand why you need a business loan

You must ask yourself why you need a business loan before you approach your bank. Most people have more money than they think. Remember, it is possible to start a business with little to no money. Furthermore, banks aren’t the only lenders. You can borrow from friends, take out a short term loan i.e. a payday loan, turn to a pawnbroker, etc. In a nutshell, there are many options available today when you need a loan. Ideally, you should take a business loan when you really need one.

For instance, a business loan is recommended in instances where you don’t have access to any other funding sources. Most importantly, you must have a business idea. A business loan should also be used for starting/funding a business only and not any other purposes. It’s recommendable to take a business loan to start a business or boost the working capital of your business/grow your business.

Banks actually look at your need for a business loan. If your need is important i.e. you want to start a business/ boost working capital or expand, your chances of getting a business loan will be higher. The idea here is to make sure you are asking for money to engage in a business activity that is bound to generate income. Banks are interested in funding borrowers who show promising signs of repaying their loans so, make sure you convince your bank you need a business loan.

2. Prepare a solid business plan

To convince your bank to give you a business loan, you need to prepare a solid business plan. Banks look at the viability of your business when deciding whether or not to give you a business loan so, make sure you show your bank how you intend to setup and run your business profitably. To do this effectively, the money you get should be put into productive use. For instance, your business plan should state that you intend to spend the money to buy stock for your business as opposed to buying brand new furniture for your office since such spending doesn’t generate revenue. If your business plan shows great potential for making money, your chances of securing a business loan are high.

3. Find the right bank

Sometimes it’s just about finding the right lender. Different lenders focus on different aspects of business. Some banks focus on giving business loans while others focus on personal loans. To increase your chances of getting a business loan, you need to go to a bank that focuses on giving the type of loan you are looking for. Such banks need less convincing. If you have to change banks, do so by all means. The right bank for you is one that offers business loans. Furthermore, you are bound to enjoy other benefits such as lower fees/interest, expert advice, etc. since such banks understand the needs of entrepreneurs more and are interested in seeing you succeed.

4. Ensure you have whatever it takes to qualify

To qualify for a business loan or any other loan for that matter, you have to meet certain requirements. For instance, some banks require businesses to attain certain annual revenue figures before business loans are granted. Some business loans may also require collateral. Banks also require certain documents before they disburse business loans. For instance, if you already have a business, your business’s financials i.e. financial statements must be in order. To avoid wasting precious time, find out what it takes to qualify for a business loan before you apply for one.


To secure a business loan, you need to make sure you don’t give your bank any reason to deny you the loan. First and foremost, make sure you need the business loan in the first place. Your business plan also needs to be solid. Banks can identify viable business ideas at a glance so, makes sure you do your homework. Your focus should be proving that the money you will receive will be put to good use i.e. it will generate income allowing you to repay your loan with ease. It’s also important to find the right bank i.e. one that specialises in funding businesses. Lastly, you need to make sure you qualify for a business loan before you apply otherwise you’ll waste precious time.

Is the Company Director of Swift Money Limited.
He oversees all day to day operations of the company and actively participates in providing information regarding the payday/short term loan industry.

Pension Scheme Could Earn Britons Hundreds of Pounds Monthly if Used Before April 5

Pension Scheme Could Earn Britons Hundreds of Pounds Monthly if Used Before April 5

Britons who have reached retirement age are being urged to increase their state pension income by taking advantage of a government offer that is due to be withdrawn on April 5th.

The scheme allows all Britons who missed out on the recent state pension introduced in 2016 to trade in a lump sum in exchange for a generous (index-linked) income for life. Any person who attained state pension age before 6th April 2016 has approximately two weeks to take advantage of the scheme which requires Class 3A national insurance as a pre qualification requirement.

According to Steve Webb, Former pension minister & Royal London policy director, retirement products working in a similar manner pay out two to three times higher than what annuities pay. Besides offering extra income, the scheme also offers a 50% payout to survivors when a pensioner dies.

In essence, a 65-year-old pensioner can trade in £8900 for £520 annually which would increase according to CPI inflation figures every year. The same pensioner would get just £195 annually or £347 after inflation adjustments if he/she bought an index-linked annuity.
The total cost of purchasing additional state pension under the top-up scheme depends on an individual’s age as well as the top-up amount. However, there is a maximum amount set at £25/week or £1,300/year. According to Mr. Webb, the scheme is attractive to individuals with a small pension/saving pot. The scheme is also attractive for women as well as individuals in good health since they are bound to live longer.

The scheme offers better value when compared with the annuity rates available today in the market. It’s a great way to boost a person’s recurrent income according to Mr. Webb. As a result, anyone who is eligible should consider taking advantage of the scheme before the April 5th deadline.

Is the Company Director of Swift Money Limited.
He oversees all day to day operations of the company and actively participates in providing information regarding the payday/short term loan industry.

How Do You Plan For Retirement Successfully?

How Do You Plan For Retirement Successfully?

We all want to have a stress-free retirement. However, very few people give much thought to saving or investing for the future. Those who have taken some steps agree to being overwhelmed, daunted and bored by the entire process. The good news is; successful retirement planning doesn’t have to be boring. It doesn’t have to be overwhelming either. Here’s what you should do to retire successfully.

Step 1: Know your retirement investment options

To retire successfully, you need to invest in things that generate income for you long after you have stopped working. With that in mind, setting up a fixed deposit savings account won’t get the job done. In most cases, savings don’t earn enough interest to cover inflation and leave enough income behind. As a result, you need to consider other options. There are many investments specially meant for individuals planning for retirement. Employers have special retirement investment options for their employees. The government also offers the same. It’s important to take advantage of such investment options but first, understand how they work. Invest in financial education.

When considering retirement investment options, focus on the risk/reward ratio. You should avoid investments that expose you to a lot of risks for obvious reasons. Your retirement funds need to be secure. Nevertheless, the investment option/s you choose should reward you accordingly. Retirement vehicles such as; defined benefit plans, company pension plans, individual retirement accounts, etc. are great. If you don’t mind taking more risk for a higher return, you can consider portfolio investments such as; stocks, bonds, mutual funds, annuities, cash investments, etc.

Step 2: Plan meticulously

This step is obvious but commonly overlooked by many people. Saying you want to retire successfully won’t get you anywhere. You have to formulate a concrete plan to kick start the process. A plan gives you a clear vision for the future. A plan also breaks down the entire process into small manageable steps. Most people become overwhelmed by retirement planning because they look at the entire process as a whole. Planning for 20-40 years of your life can be overwhelming if you look at everything as a whole.

Furthermore, successful retirement planning is all about making clear, definitive steps as opposed to random ones. Financial success isn’t about making one big decision but making small decisions with one big goal in mind. A good plan makes everything easier and gives you direction. You increase efficiency and waste less effort. There are many great planning tools available online today so, it shouldn’t be a problem creating a great retirement plan. The most important idea in every retirement plan is to make sure you save enough and make the most use out of your savings to create long-lasting and growing income streams long after you have retired.

Step 3: Make lifestyle adjustments

To retire successfully, you need to compromise on something. Most people want to be financially free and lead a great lifestyle at the same time. It doesn’t work like that! You need to make lifestyle sacrifices initially. This step is crucial because it can jeopardise a great retirement plan. The most important principle of wealth building is investing/accumulating assets. You will never be rich/accumulate enough money for retirement if you don’t control your expenditure.

Step 4: Start immediately

Time is crucial when planning for retirement. Your probability of success is higher when you have more time. Furthermore, procrastination is among the main causes of failure in life. To retire with enough money, you should start acting immediately. Procrastinating only pushes your retirement date further. You also have less time to make mistakes and recover from them if you procrastinate.

Step 5: Take full responsibility every step of the way

Last but not least, you need to own the entire process. Planning for retirement successfully takes serious commitment and consistency. You have to take all the necessary actions and adjust accordingly when the need arises. If you don’t like the pace at which you are going, make the necessary adjustments. If you aren’t content with the results of a certain retirement investment option, look for another one. You can’t afford to rely on anyone 100% when planning for your future. You must do your homework. It’s important to get expert advice, however, own the entire process. Invest in financial education so that you can be able to make wise decisions on your own.


Planning for retirement successfully shouldn’t be a daunting task if you follow the steps discussed above to the letter. Investing in financial education is the first and most important step. You also need a concrete plan. You should also make the necessary lifestyle adjustments and start taking action immediately. Lastly, take full responsibility. Don’t blame someone else. You are solely responsible for your financial future.

Is the Company Director of Swift Money Limited.
He oversees all day to day operations of the company and actively participates in providing information regarding the payday/short term loan industry.

What Is Investing and How Can It Work For You

What Is Investing and How Can It Work For You

Overview: What is investing?

Investing can be defined as the art of making your money work for you. There are two main methods of making money. One, you can work for a salary. Two, you can buy assets or anything that gives you a return (i.e. you can invest). Anyone can invest. You can use your own money (savings) or borrow a loan to invest. Investing is very important because your money works for you. When you buy stocks for instance, you just need to wait for them to increase in price. You don’t need to do anything else. You may be required to do research before buying stocks however, that’s very little work compared to working for a salary. Investing is clearly important. It can, however, be challenging given the number of investment opportunities available today. So, how do you find the best investment for you?

Tip 1: Identify your investment needs and goals

To be able to find the best investment for you, it’s important to ask yourself why you are investing in the first place. Although people invest to make more money, one person may be investing for retirement while another person may be investing to get money to buy a home. In such a case, the person investing for retirement is best suited for investment opportunities which take longer to mature compared to someone investing to buy a home. Some investments may also be better for specific investment goals, so it is important to think of what you desire from your investment before you think of investing.

Tip 2: Know your risk appetite

It’s also crucial to know your personal attitude towards risk. Since all investments come with risks, you should know how much you are willing to lose in case things don’t go as planned. You can assess your risk appetite by assessing your investment goals, need for returns as well as your investment time frame. When assessing risk, ask yourself how much money you would afford to lose. If the investment in question is bound to lose you more money than you are willing to lose, it’s time to look for another investment. Shorter investment terms also come with more risk, so it’s important to choose investments with the appropriate risk timeline.

Tip 3: Choose an investment with an appropriate term

To be able to find the best investment for you, you also need to think about how soon you want your money and/or the returns back. If you are not in a hurry to get returns, longer-term investments like property are always better. If you need returns fast i.e. in a few years, you can invest in stocks. The risks are however higher with such investments since stock prices fluctuate.

Tip 4: Identify a suitable investment platform

To find the best investment for you, it’s important to find an investment platform that works for you. For instance, if you value convenience, an online investment platform will be perfect for you. In such a case, investing in stocks and currencies may be perfect for you because there are very many online stock and currency brokers. With such investments, you can do everything from the comfort of your home.

There are many other investment platforms. For instance, you may want someone to invest on your behalf. In such a case, you can choose investments that come with managed accounts. With such investments, you share your investment preferences with an investment expert, and they do everything else for you at a small cost. If you don’t have a problem paying someone to make investment decisions for you, such a platform will be perfect for you. In a nutshell, the investment you choose should come with your preferred investment platform.

Tip 5: Consider your interests/passion

Your investments should also be in line with your interests/passion. If you are passionate about real estate, you should consider investing in real estate before considering other investments. This should be the case because you are more likely to succeed investing in things you are passionate about. Your investment decisions shouldn’t be guided by returns only. Passion will help you maintain consistent interest in your investment. Furthermore, you are more likely to secure investment funds if you are passionate about your investment opportunity.

Tip 6: Get professional investment advice

If you aren’t able to find the best investment for you after considering the above tips, you should seek professional investment advice. An investment expert can help you discover the investment options available to you. He/she can also match investment options with your interests, finances, appropriate term, platform, risk appetite, etc. Although you will be required to spend some money to get expert investment advice, the cost is insignificant compared to the consequences of making bad investment decisions.


Your chances of becoming financially independent are very slim if you are not an investor. Saving alone won’t make you rich. Although choosing suitable investments is challenging, the above tips have simplified the process for you. Start by identifying your reasons for investing. Proceed by assessing your risk appetite. If you fear risk, stick to safer investments. You should also consider choosing suitable investment terms and platforms that match your preferences. Don’t forget to consider your interests or passion to increase your chances of success. Lastly, you can seek professional help if you have problems finding a suitable investment.

Is the Company Director of Swift Money Limited.
He oversees all day to day operations of the company and actively participates in providing information regarding the payday/short term loan industry.

The Ultimate Guide to Becoming Your Own Financial Adviser

The Ultimate Guide to Becoming Your Own Financial Adviser

Did you know that everyone has the ability to manage their own finances? The truth is; you don’t need to hire a financial adviser to manage your finances perfectly. Here’s what you need to do to;

Learn the fundamentals of finance

If you’ve handled money before, chances are you already have the most important financial information and knowledge at your fingertips. You just need to remind yourself or discover what you know. The first and most important step to becoming your own financial adviser is learning the fundamentals. The internet has everything you need to know about finance. The information can, however, be overwhelming. To make things easy, focus on the fundamentals of finance namely; general financial planning principles, investing, taxes, insurance, retirement and estate planning. Most people hire financial advisers to advise them on these areas so learning them goes a long way.

When learning about the fundamentals of finance, pay attention to the sources of information you choose. The internet is packed with information from all kinds of sources, so it is crucial to focus on validated sources only. For instance, it is better to learn about taxes from a tax expert than an individual with little to no experience on tax issues. So, pay attention to your sources to ensure you get accurate information. You should also focus on the basics before you dive deeper.

Apply the knowledge

This may be an obvious step. However, most people hardly apply the financial knowledge they have. Once you learn general financial planning principles like budgeting, apply those principles to the letter. Learning how to prepare a budget will help you track your income and expenditure. You can then proceed and find ways of saving and investing. You don’t need a financial adviser to force you to prepare a budget and save money for investing and emergency expenses.

Applying financial knowledge is crucial for financial success. Learning the fundamentals of finance should help you understand your unique financial circumstances as well as help you craft appropriate financial strategies to help you. Financial success is all about taking action and holding yourself accountable. Having financial goals will help you remember why you are working so hard to manage your finances. Financial goals also come with check-in points for assessing your progress. You should revisit your budget every month. Your investments and financial plan should be revisited quarterly and annually respectively. You don’t need a financial adviser for this.

Manage your behaviour and emotions

Financial advisers do more behaviour management than actual financial advising work. In fact, most people have financial problems because of behavioural problems. For instance, misappropriating finances makes it hard to save money. Regardless, people still spend money on things they haven’t budgeted for. It is usually easy to manage money. However, bad habits and emotions usually get in the way of most people. Furthermore, many people assume history will repeat itself and fail to have contingency plans to ensure they always make prudent decision regardless of their emotions.

For instance, stress tends to distract people from their financial goals. Peer pressure also influences many people negatively when making financial decisions. In a nutshell, many things make it challenging to make seemingly simple but smart financial decisions. To make good financial decisions, start by learning how to manage your behaviour and emotions.

Financial advisers stress on making small consistent steps in the right direction. You also need to create action plans in advance and stick to them regardless of your emotions. You should also be willing to get rid of bad behaviours that have a severe impact on your finances i.e. impulse buying. It’s also important to know when you are making financial decisions based on emotions like fear and greed.


It costs a considerable amount of money to hire a financial adviser yet, all the advice you need is readily available online. The most important thing is sourcing financial information from reliable sources. You should also pay attention to the fundamentals of finance only to avoid being overwhelmed by information. Last but not least, apply what you have learned and manage your emotions and bad behaviours that tend to ruin many people’s finances. If you have a problem managing your emotions and bad behaviour, think about what is on the line i.e. your future and that of your family. You don’t need a financial adviser to take action in the right direction.

Is the Company Director of Swift Money Limited.
He oversees all day to day operations of the company and actively participates in providing information regarding the payday/short term loan industry.

How to Switch UK Energy Suppliers to Get the Best Deal

How to Switch UK Energy Suppliers to Get the Best Deal

It’s always good to look for new avenues of saving money. Reducing your energy bill is a great place to start. By switching energy suppliers, it is possible for you to save a lot of money every year. What’s more interesting is; it’s not a tedious and time-consuming process as many people are led to believe. In the UK, you just need a recent energy bill, your postcode and approximately 10 minutes. It is possible to switch energy suppliers online or by phone. Here’s what you need to do to get started;

1. Find a reputable energy price comparison website (uSwitch)

Before you decide to switch energy suppliers, it’s important to conduct a thorough price comparison. You can do this using accredited energy price comparison websites like uSwitch. The best energy price comparison websites are accredited by Ofgem. Such websites are proven to offer accurate data and make the process very simple. The websites also compare prices offered by the entire energy market. You also stand to get customised comparisons matching your energy usage when you use reputable energy comparison websites like uSwitch.

2. Enter your postcode and usage information

After finding a reputable energy comparison website, proceed by entering your postcode. Energy prices are usually set regionally for easier comparison. Furthermore, some energy suppliers serve certain areas. Entering your postal code will help you narrow down the best energy plans and suppliers.

Proceed and enter your usage information to get accurate comparison results. It’s also advisable to enter household consumption details. Such details can be found on your energy bill. You can also give estimates. It is important to fill in all the fields to get the best estimate possible.

3. Review the results and pick the best supplier

Once you have estimates from different suppliers, it’s time to pick the best energy plan and supplier for you. The results you get can be overwhelming so consider using filters to refine your results. Depending on your preferences, you can choose to see all energy plans and suppliers or view fixed rate energy plans only, plans without cancellation fees, etc. The best energy comparison websites offer detailed information i.e. most popular energy plans/suppliers in your region so, it shouldn’t be a problem finding the best energy plan and supplier.

4. Make the switch

After identifying a good energy plan and supplier, it’s time to make the switch. You can make the switch by selecting a suitable supplier, plan and providing your personal information i.e. address and bank details (if you have chosen a direct debit plan which is usually the cheapest). Your new energy supplier will be alerted immediately. They should contact you before the cooling off period is over (i.e. the time required to switch energy suppliers). It takes approximately two weeks to finish a switch. Your new supplier should contact you with specific details/information i.e. service switchover date.
Other important information to consider

The above steps are adequate enough to help you find the best energy supplier and make the switch seamlessly. You should, however, be aware of some important details.

Energy supply interruptions?

You shouldn’t expect any interruptions i.e. your new supplier coming to your home to install new piping, cabling, etc. When switching energy suppliers, you only change the company that bills you. Everything else remains the same.

Switching period

It takes approximately 17 days to complete a switch (a 2-week cooling-off period plus an extra 3 days). Your new supplier is supposed to maintain contact with your old supplier to agree on things like a switch over date. Depending on the type of switch i.e. gas and/or electricity, the switch over dates may differ for each. Your new supplier will, however, keep you informed.

If you decide you don’t want to switch energy suppliers, you should contact your new energy supplier before the switching period is over (within 14 days). They should cancel the switch without causing any interruptions to your energy supply.


The above information summarises what you need to know about switching energy suppliers in the UK. Once you select a good energy price comparison website like uSwitch, you shouldn’t expect to face any other problems. Reputable energy price comparison websites have all the information you need to switch energy suppliers successfully and enjoy huge savings every year.

Is the Company Director of Swift Money Limited.
He oversees all day to day operations of the company and actively participates in providing information regarding the payday/short term loan industry.

Understanding Cryptocurrencies: What you need to know about cryptocurrencies

Understanding Cryptocurrencies: What you need to know about cryptocurrencies

What is a cryptocurrency?

Cryptocurrencies have many definitions. A cryptocurrency can be defined as a digital currency created from a computer code. A cryptocurrency can also be defined as a string of data encoded to signify a unit of currency. There are many cryptocurrencies the most popular being bitcoin. Unlike conventional currencies, cryptocurrencies are free of government oversight and manipulation. They are monitored via peer-to-peer Internet protocols.

Cryptocurrencies are created through ”mining” i.e. adding transaction records to the public ledger of the cryptocurrency in question. Cryptocurrency transactions happen instantly and are known to the entire network. The transactions must be confirmed to be finalised. Cryptocurrency transactions aren’t reversible or forgeable when they are confirmed.

To understand cryptocurrencies in depth, you need to understand their revolutionary, transactional and monetary properties.

Revolutionary properties of cryptocurrencies

Cryptocurrencies stand out from regular currencies because of their properties the most notable being their revolutionary properties. As mentioned above, cryptocurrencies have no oversight body i.e. government or a central bank that can create/influence supply or demand. Cryptocurrencies aren’t just entries in a database as is the case with conventional currencies. Cryptocurrency databases can’t be changed by anyone you can’t see or rules you don’t know.

The currencies derive their name from the fact that the consensus-keeping has been secured using strong cryptography. Unlike regular currencies, cryptocurrencies are secured by math and not trust or people. This makes cryptocurrencies favourable alternatives of regular currency because there is a very slim chance of them being compromised.

Transactional properties of cryptocurrencies

a. Cryptocurrencies are irreversible

Once a transaction is confirmed, it can’t be reversed by anybody including the creators of cryptocurrencies (miners) or government bodies.

b. Pseudonymous

Cryptocurrencies are also pseudonymous meaning accounts and transactions involving cryptocurrencies aren’t connected to any real world identities. Bitcoins are received via addresses which are simply random chains of approximately 30 characters. Although it is possible to assess cryptocurrency transaction flow, it is impossible to connect addresses with the real world identities of users. This property makes cryptocurrencies unmatched in regards to confidentiality.

c. Fast

Cryptocurrency transactions are instant. Transactions are confirmed in a few minutes.

d. Global reach/use

Cryptocurrency transactions take place in a worldwide network of computers which are indifferent of a user’s physical location. You can send/receive money from anywhere.

e. Unmatched security

Cryptocurrency funds are securely locked in a cryptography system which is accessible to the owner only using a private key. Cryptocurrencies are secured by strong cryptography and numbers which are impossible to break.

f. No permission to use

You are free to use cryptocurrencies as you wish. You don’t need any permission to use bitcoins. You can download the respective cryptocurrency software for free, install it and start receiving and sending bitcoins or any other cryptocurrencies.
Monetary properties of cryptocurrencies

a. Controlled supply

Cryptocurrencies are attractive in comparison to conventional currency because their supply is controlled. The supply of cryptocurrencies like Bitcoin decreases with time. Supply is controlled using schedules written in the cryptocurrency code. This simply means that the supply of any cryptocurrency at any time in the future can be estimated today.

b. No debt

Unlike fiat currency, cryptocurrencies aren’t created by debt. Cryptocurrencies represent themselves. They are not loaned into existence like fiat money.


Cryptocurrencies have a revolutionary impact when you consider their properties. Because cryptocurrencies are pseudonymous, irreversible and you don’t require permission to use them, they solve the problems associated with fiat money. Governments and central banks can’t manipulate cryptocurrencies at the expense of citizens. They can’t prohibit citizens to receive/send money or reverse transactions either.
The controlled supply of cryptocurrencies and global reach/use makes them the perfect currency of the future. Cryptocurrencies are here to stay. So far, they have proven to be the best alternative for fiat money. Although cryptocurrencies are not immune to speculation, they are still a better alternative.

Is the Company Director of Swift Money Limited.
He oversees all day to day operations of the company and actively participates in providing information regarding the payday/short term loan industry.