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Investing in Bitcoin

By Joshua Shuemake, NFT, Bitcoin, and Cryptocurrency Expert

Investing in bitcoin can be both rewarding as well as risky when it comes to digital currency. The currency’s value can fluctuate rapidly in a short time. For this reason, you need to carefully consider your risk tolerance before investing. You might consider other asset classes if you aren’t comfortable with volatile assets. You may be able to make a profit from digital currencies, but they are not a great long-term investment.

You can either invest directly in Bitcoin or indirectly through a cryptocurrency platform. There are many risks involved but the potential rewards can be significant. As with any investment, there is no 100% guarantee. With careful analysis, Bitcoin investing can yield substantial returns over the long-term. This technology has revolutionized the economy and is poised to disrupt the traditional currencies in the near future. Although there are logical doubts about the long-term value of the cryptocurrency, the benefits of Bitcoin are incalculable.

Although investing in Bitcoin can be a great way of diversifying your portfolio, it is important to remember that the value these digital assets are subject to fluctuation. Although the initial investment is small, you could lose money if the price drops. For speculative investors, however, Bitcoin investing may be the best way for them to make a large profit. You might also consider purchasing Bitcoin stocks. Bitcoin stocks are stocks of companies that have a relationship to BTC. Riot Blockchain and Coinbase are two examples of popular companies.

The biggest risk associated with investing in Bitcoin is the loss of your investment. Experts believe that Bitcoin is prone to huge price fluctuations and is therefore a bubble. It is also digital, making it more vulnerable to fraud and security breaches. Real estate on the other hand is backed by a physical asset and has a long history. Real estate appreciation is a great hedge against inflation. Renting properties can generate steady monthly cash flows.

If you want to invest in Bitcoin, you should limit your initial investment to 1% to 3% of your total assets. You may be able reap huge returns if you keep an eye on the market. Although investing in Bitcoin can be risky, you can reap the benefits almost immediately. You may even be able to double your money in a matter of minutes. The cryptocurrency market is growing and more investment opportunities are available to the public.

If you have a bank account or debit card, you can use Coinbase to purchase the currency. You will need to verify your identity and financial information. If you have a mobile device, you can use the Coinbase Earn program to add more crypto to your portfolio without investing any money. A good cryptocurrency exchange will also have a mobile app that allows you to convert bitcoin, spend it, and transfer it to anyone in the world. If you have the right kind of skills, you can invest in Bitcoin in a short period of time.

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What are the advantages of having an IB math private tutorWhat are the advantages of having an IB math private tutor

A critical factor in advancing your learning is to have a professional tutor who can make you absorb all the knowledge in such a small time frame. A qualified tutor can work with children and teens of different ages in the most convenient way. 

It makes no difference to an expert teacher where a student comes from or how much they have achieved during their years of formal learning, so having an outline of tutoring can improve the mental state and learning adaptability of a student. 

The IB program online tutoring is a difficult task and responsibility, and only competent teachers and tutors are selected to do the tutoring. 

What is an IB program?

International Baccalaureate or IB program is an academic layout that, with high academic performance, will help you get an accomplished diploma that is globally acknowledged and can make you advance in your academic standing not just locally but also abroad. It helps students become independent and critical thinkers. 

IB does more than just academics and incorporates arts as well as science. Also, training the students with proper mental fortitude and character, and values will make them stand out anywhere they go. IB program provides students with international awareness and strong academic, social, and emotional characteristics is the purpose of IB. 

The significance of an IB tutor 

Online IB tutors, as a specialist for IB programs and learnings, have the ability to do teaching online and at home or face to face. 

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Silver coins have been around for many centuries. Since the invention of the barter system, people started to value silver, a shiny metal that didn’t appear to occur very often in nature. Silver coins are still used every day – although they are not yet considered currency – but they are recognized as legal tender. Coins are produced by national mints around the world and are recognized as currency by many countries.

We have a huge collection of silver coins from all over the world. We carry a number of fine silver coins that are very valuable, like coins that are guaranteed by the Numismatic Guaranty Corporation (NGC) and other recognized coins grading companies. We have a large selection of very cheap silver coins for you to choose from, including old dollars and peace dollars.

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Silver bullion bars are a great way to invest in silver, and they come in many different sizes and options. You can find all kinds of silver coins, such as one ounce silver coins or 100 oz. silver coins. We carry all the silver bars that you need to satisfy a number of different customers. Silver bullion bars offer investors amazing value because of the extremely low premiums that they carry.

Browse aforbescompany.com’s selection of Silver Bars To Buy. 

Buy Silver Rounds and you can immediately start investing in silver bullion without having to pay a lot of money. By buying silver rounds, you are buying silver that is of the purest quality. Silver rounds are commonly manufactured in one-ounce pieces. Private mints and bullion companies produce silver rounds that are used in coin collecting. It is important to note that silver rounds are not like silver or gold bullion coins in that they do not have legal tender status and are used as a way to invest or for special purposes. Silver rounds are available in a wide variety of designs and colors, and they cover everything from holidays to animals. 

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Physical silver has been used for thousands of years as a precious metal, as a means to create jewelry, and as a means to store value. Since 1997, silver has been used as a currency in many developed countries. Silver is a valuable precious metal that is readily available in the market because it is highly affordable compared with other precious metals. The fact that silver is used in many different fields, like industrial products and bullion coins, makes silver extremely valuable and desired by avid investors and collectors. You can use silver bullion as a retirement option by buying government-minted silver coins and adding them to your 401(k) plan. Whether you want to own silver coins or buy precious metals, silver will always be a valuable and sought-after metal.

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E-Commerce Accounting 101: A Guide for Online SellersE-Commerce Accounting 101: A Guide for Online Sellers

For e-commerce sellers, strong accounting practices are key to managing cash flow, calculating profits, and staying tax-compliant. This guide covers the essentials of bookkeeping for ecommerce, from revenue and expense tracking to calculating the cost of goods sold (COGS) and leveraging accounting software.

1. Track Your Revenue: Organize Sales Data

Accurate revenue tracking involves recording each sale and the fees associated with your selling platform(s).

  • Gross vs. Net Sales: Track gross sales (total revenue) and then subtract platform fees and refunds to understand net sales.
  • Multi-Channel Integration: If you sell on multiple platforms (like Amazon and Shopify), use ecommerce accounting software like Connectbooks, QuickBooks or A2X to consolidate data, which reduces manual work and errors.
  • Separate Sales Tax: Keep sales tax separate from revenue. This simplifies remittance to tax authorities and prevents mixing collected taxes with actual earnings.

2. Expense Management: Know Where Your Money Goes

Managing expenses is essential for profitability. Organized expenses help you spot trends and control costs effectively.

  • Categorize Expenses: Use categories for different costs like marketing, shipping, warehousing, platform fees, and transaction fees. Clear categorization allows better expense tracking and highlights areas where you might cut costs.
  • Inventory Management Costs: Inventory represents a significant expense. Track inventory costs to know your actual product expenses and prevent stockouts.
  • Shipping Costs: Shipping fees impact profit margins, especially if you offer free or discounted shipping. Include fulfillment costs in expense tracking for accurate reporting.

3. Cost of Goods Sold (COGS): Measure Profitability

COGS is the total cost of producing the goods you sell, and calculating it accurately is crucial for understanding gross profit.

  • Calculate COGS: To find COGS, add beginning inventory to purchases made during the period and subtract ending inventory. This reveals the cost of products sold during that period.
  • Use Inventory Software: Real-time inventory tracking tools, like TradeGecko, make it easier to monitor COGS accurately and keep your stock levels balanced.

4. Cash Flow Management: Ensure Financial Stability

Cash flow management ensures you have enough funds to cover expenses, invest, and grow.

  • Create a Cash Flow Forecast: Forecasting sales and expenses helps avoid cash shortages, especially during slower sales periods.
  • Separate Personal and Business Finances: Open a dedicated business account for clear cash flow tracking, making accounting simpler and preventing personal-business fund mixing.
  • Allocate Taxes: Set aside funds from revenue for tax obligations to avoid cash shortfalls during tax season.

5. Tax Compliance: Prepare for Sales and Income Tax

Tax compliance can be complex in e-commerce, especially for multi-state sellers, but proper tracking tools make it manageable.

  • Sales Tax: U.S. tax laws require sales tax collection based on state economic nexus rules. Consider automation tools like Avalara or TaxJar for managing sales tax across multiple states.
  • Income Tax Preparation: Unlike sales tax, income tax applies to your profits. Accurate revenue, COGS, and expense tracking are essential to determine taxable income and avoid errors. Professional tax help may save time and improve compliance.
  • Store Digital Records: Store all receipts and invoices digitally within your accounting software, ensuring easy access for audits and tax prep.

6. Leverage Accounting Tools for Efficiency

Accounting software simplifies e-commerce accounting and enhances accuracy.

  • QuickBooks and Xero: Popular accounting options for small businesses, both offer e-commerce integrations and features like expense tracking, inventory management, and multi-channel support.
  • A2X Accounting: Designed for Amazon and Shopify, A2X automatically transfers platform data into QuickBooks or Xero, making it easier to track sales and fees accurately.
  • Inventory Solutions: Tools like Skubana and TradeGecko help manage stock and COGS, integrating with QuickBooks and Xero for streamlined inventory and expense tracking.

7. Reporting and Analysis: Insights for Growth

Use accounting software’s built-in reports to track performance and guide decision-making.

  • Profit and Loss Statement: Regularly review your P&L to measure revenue, expenses, and profitability over time.
  • Cash Flow Statement: Analyze cash flow to understand inflows and outflows and maintain sufficient working capital.
  • Balance Sheet: A snapshot of assets, liabilities, and equity, the balance sheet is helpful for evaluating financial health and preparing for business growth.

Conclusion

Mastering e-commerce accounting may seem complex, but the right processes and tools make it manageable. By tracking revenue, expenses, COGS, and taxes, you’ll gain insights into your business’s health, ensure compliance, and make strategic decisions. Embrace these practices to simplify your accounting and set your e-commerce business up for long-term success!

If all those seem too complicated to you, make it easy and automated with the help of Connectbooks. The software helps you automate your accounting, track your inventory in real-time, get sales and profit calculations done for you daily. Check out https://www.connectbooks.com/ for more details