Currently, many people are very enthusiastic about making a passive income online. Well, although online trading on DotBig requires some specific knowledge and skills, it might be a passive income to a certain extent. But many of those who find out about online trading are reluctant to start this activity because of different reasons. Many potential traders decline this idea because they are afraid of trusting their money to scammers.
They read different stories online about how brokers steal money from their clients. However, in fact, online trading is not a dangerous activity if you choose the provider of services wisely and examine its key security features.
The other reason to give up this idea is the fear to lose money because of a lack of experience. Well, we won’t say this won’t happen to you because it’s impossible to gain some experience in Forex without losses. Nevertheless, you might dare take this risk and make much more than you would potentially lose! By this brief review, our experts tried to answer the most popular questions about the broker. Is it a legit company? Can you make good money with it? Let’s find this out.
How do I earn with DotBig?
If your initial goal is to make regular profits with the help of the broker, you have to look for a company with profitable conditions, an extensive selection of tradable products, low fees and commission, and advanced tools and platforms. Here is what DotBig LTD offers to its clients.
- Forex. The foreign exchange market is where you trade fiat currency pairs at their quotes. DotBig LTD displays 72 currency pairs, which is quite good in comparison to the competitors. Specific trading commissions are excluded, as fees are included in spreads. For forex, the average spread varies between 1.2 and 1.5 pips. This is the industry average spread.
- Shares. A lot of online brokers provide access to the stock market but assets are available only through CFDs. Unlike such companies, DotBig has 244 real shares to trade at a very low trading fee – a floating spread that amounts to 0.6 points. Leverage is high – 1:10.
- Commodities. DotBig isn’t the best choice if you prefer brokers with an extensive selection of commodity products because it offers only 6 assets. The spread isn’t manageable. It’s fixed and it’s low – 1:1000. The trading fees for speculating commodity assets are higher than the company’s average – 2.2 pips.
- Indices. There are 13 indices to trade via DotBig. Based on them, you can build a profitable investment portfolio and analyze performance of different market participants across various sectors.
- Crypto products. Many crypto-based products are traded via CFDs and the total number of assets exposed from the crypto market exceeds 600. There are also crypto-to-fiat pairs, including DOG/USD, ETH/USD, XRP/USD, LTC/USD, and BTC/USD.
- Venture investments. The DotBig forex broker offers its clients to join DotBig Venture Investment Club. Both private and corporate investors can use this possibility and invest some funds in promising projects, that might grow and bring impressive returns.
You should not even think about signing up, providing your personal details, and funding your account if you are unsure that the broker is completely safe. How to know that DotBig isn’t a scam? Here are key features we’ve taken into account to drive such a conclusion.
Firstly, all the legal information that should be public is exposed on the official website of the company. You can find where the legal body is registered, learn under which registrations the offices are represented, and a lot more.
Secondly, (this reason is more clear and trusted) the broker stores clients’ funds on segregated accounts. What does it mean? Everything is quite prosaic – when your money is on segregated accounts, fraud won’t have any chance to steal it. DotBig stores deposits of its users on accounts of reputable European banks.
Thirdly, the broker, with its history dating back to 2003, hasn’t spoiled its reputation over almost 20 years of operating in this industry. It wasn’t mentioned as a party in any serious financial scandals that have happened over the years of multiple global crises.
Last but not least, there are a lot of positive testimonials. DotBig testimonials are the best sources of information if you want to learn about specific cases of clients who trade on this platform. From such reviews, you may find also hidden pitfalls and disadvantages of online trading with the broker, which are often not exposed until you enter the platform on your own.
To sum it up, we’ve discussed two key aspects of this broker – trading avenues and security. Based on our findings, we can conclude that it has nice conditions for trading on different markets and there are no clues to consider it a scammer.
Use This Tax-Saving Guide to Save The Most!
Tax saving is a broad term that includes all types of investments that help you reduce your tax burden. All of these investments come with their own set of rules and benefits. They can be divided into two categories – investments you make in yourself, such as insurance plans and pension schemes, and those that you make for your family members, typically in the form of education or healthcare plans.
Section 80C deductions are the most commonly used tax-saving tools in India today. Other sections include 80CCC (for pension schemes) and 80 CCD (1B) (for contributions to NPS). The Section 80D deduction is available for premium payments towards medical insurance, while the Section 80E deduction is allowed on interest paid towards a student loan.
Let’s take a look at some of the best tax saving schemes you can consider in India along with an online income tax calculator:
1. Equity Linked Saving Scheme
Equity Linked Saving Scheme (ELSS) is a type of mutual fund that allows you to save on taxes and create wealth over the long term. ELSS is one of the most efficient tax-saving schemes available for you to reduce your tax liability under Section 80C of the Income Tax Act, 1961. You can invest in ELSS by paying a lump sum amount or through SIPs.
This fund scheme invests at least 80% of its corpus in equity shares and equity-related instruments. The investment period for these funds is 3 years which makes it the shortest lock-in period among all 80C investments. If you feel problem in calculating taxes then try out our online income tax calculator for the same purpose.
2. National Pension Scheme
Next on the list of tax-saving schemes is the National Pension Scheme (NPS). This is a self-contributory scheme for government employees and all other Indian citizens, who are not government employees. Under NPS, you contribute towards your retirement corpus and may claim a deduction in the process. Let’s look at how much NPS contribution qualifies for a tax deduction.
Of the ₹1,50,000 that you can claim under Section 80C, you can claim a further amount of up to ₹50,000 under Section 80CCD(1B). This effectively takes your total limit under Section 80C to ₹2 lakhs. Note that this upper limit doesn’t include any investments that qualify for deduction under other permissible Sections such as Section 80D or Section 24. Consider using an income tax calculator for accurate results.
3. Unit Linked Insurance Plan
A ULIP is a combination of insurance and investment. The policyholder invests their money in the market through these plans. In exchange, the policyholder receives life cover as well as market-linked returns.
The policyholder can choose to invest their money in a mix of equity and debt funds according to their age and risk appetite. However, investments made in ULIPs cannot be withdrawn by the policyholder until they complete five years of their maturity.
In addition to this, ULIPs also offer multiple tax benefits to investors under Section 80C of the Income Tax Act, 1961. The amount invested by the investor is eligible for tax deduction up to INR 1.5 lakh per year.
4. Public Provident Fund
The PPF is a long-term investment that is open to all, including minors. With an interest rate of 8% and the option for premature withdrawals for some reasons, it remains one of the most popular tax-saving schemes in India.
The interest rate of PPF is set by the government and there are no charges levied by banks on it. So if you’re looking for a safe and low-risk investment option with assured returns, then PPF must be on your radar.
There is a lock-in period of 15 years but there are provisions for premature withdrawals (for specific purposes) after 7 years. The maximum amount eligible for tax deduction under Section 80C is Rs 1 lakh per annum.
5. Sukanya Samriddhi Yojana
The Sukanya Samriddhi Yojana was instituted by the government of India in 2015 with an aim to help parents save for their daughter’s future, including but not limited to, her education and marriage. The scheme is run by the Ministry of Finance, Department of Economic Affairs, Government of India and is eligible for tax exemptions under Section 80C of the Income Tax Act 1961.
6. National Savings Certificate
National Savings Certificate (NSC) is a government-backed investment instrument available in post offices. The scheme was launched to encourage people to save money for their future and at the same time, provide them with tax benefits. The investment is eligible for tax deductions under Section 80C of the Income Tax Act, 1961.
The NSC has a lock-in period of 5 years. It can be issued by an individual in his own name or jointly for and on behalf of minor children (not exceeding two). Even HUFs and trusts can invest in this scheme. However, an NSC cannot be pledged as security with financial institutions as it is non-transferable.
7. Senior Citizen Saving Scheme
If you are a senior citizen, you can invest in the Senior Citizen Saving Scheme (SCSS). The maximum investment is Rs 15 lakh. Interest rates are fixed by the government and are currently 8.6% p.a. The interest is paid quarterly. You can open an account at any post office or designated branch of public sector banks. There is no tax deduction available on the amount invested in SCSS but it comes under EEE i.e., Exempt-Exempt-Exempt status, and hence the interest earned and maturity amount will be exempt from income tax.
That’s a wrap! So, saving taxes is important. And it’s hard to do alone. But now that you’ve gone through this guide, you’ll be able to choose the best tax-saving investment as per your needs and risk appetite. After all, there’s a tax-saving option for every age group. So choose wisely and save the most you can. Moreover, to know how much you can effectively save on taxes with these options, you can also consider using an income tax calculator.
How Is North Korea Handling Bitcoin Cryptocurrency?
Every country in this world has a very democratic and friendly nature with other countries. But from among all the countries, North Korea is one country which stays away from this type of friendly terms. The country has its regulations, which the citizens then follow, and it does not believe in making an environment which is positive for the people of the neighbouring States. It becomes complicated for anyone from other countries to North Korea because living there is an arduous task. There are many more things about North Korea that the individuals should know, and they can know them through BitQS. The basic mentality of the president is to control the nation by having the Central power in his hand. One thing which will amaze everyone is that the country is The Secret member of Bitcoin. Many things are being kept secret by the president.
But after many years, North Korea decided to balance their economy by adopting the Bitcoin because it was an innovative idea. However, they have come across various significant problems, and in the year 2021, The Finally accepted cryptocurrency. There are a lot of experts who keep winning discussing the process of handling Bitcoin in North Korea. One thing he should buy the government was that North Korea is trying to Steal 1.3 billion cash and Bitcoin from the financial organization and various private organizations.
The Bank Robbers
It is a tremendous injustice for the individuals trying their fortune to develop capital for themselves that they can use in their future. The programmers working in North Korea are basically from the military agency of North America, which is handling all the problems. In 2017 and 2018 few attackers tried to bring some fraudulent activities into the market to do the corruption in blockchain technology. The people who attack crypto coins by using various tricks are generally robbers, and they want to get the money of others. They carry out this process by making a virtual blockchain network with the help of some wrong information which allows them to purchase the rights of the ownership. There are many studies in which it is mentioned that the funds transferred from the United States to courier through a secret pathway which is controlled by Marine ship vessel.
Bank robbers are brilliant hackers because they know how to create a drift in the system, and they also have the idea of which strategy will help them attack the application. North Korea is a very famous country for its cybercrime activities, which has targeted hundreds of users by making their tokens. Stealing someone else’s money is a very unethical activity performed by individuals who do not want to do something good. They are not interested in raising the money through legal ways. In the year 2018, around 11.8 million were theft from the financial corporation of New York with the help of some unknown crypto coin application.
All the criminal activities related to crypto coins in North Korea are subjected to the Justice Department and national security. After knowing all the facts, the organization has stated that North Korea is the only country which is very active in performing the robbing activities. Therefore, they are not in favour of having peace.
The Value of Bitcoin
The value of a crypto coin is very volatile, and it is entirely irrespective of all the crimes being performed by the people in North Korea. All the other countries cooperate very well in having a comfortable base for digital currency. But it is essential to have an eye on all the criminal offences. The digital currency is in the tender in Latin America and provides a medium to the people through which they can perform the exchange around the globe.
Many banks have allowed people to use Bitcoin for the exchange, and it is not separating the currency. Bitcoin is getting support from the organization to have a smooth environment for the crypto coin developed in the nation. Therefore many big companies and organizations like Tesla, which manufactures electronic cars and many other goods, are also thinking of using Bitcoin. They want to allow their users to make payments through Bitcoin for the services they are taking. It’s been a decade since Bitcoin came into the market. It is getting appreciation from all over the globe.
Bitcoin Wallet – Why It Is Popular?
Today, investing the additional money into a project or cryptocurrency that gives you something in return is sensible. Many people who are afraid of providing the capital to investors for the project take the initiative of purchasing cryptocurrency. Bitcoin has increased the option, and at the same time, the specification of the Bitcoin wallet has opened a specialized area. Numerous wallet of cryptocurrency is counted among the safest place for the digital unit to store. The gross figure of the Crypto unit that works daily to rotate requires the support of a Bitcoin wallet. In short, every person depends on the success of online sites like https://bitcoin-motion.cloud/ for a digital unit. The practical experience that a person gains from a Crypto wallet is decided if the currency will make a difference in their capital. Moreover, the digital unit’s performance and the person’s security depend primarily on the cryptocurrency wallet.
People who are not considering experiencing a chance in Crypto and do not want to become an investor in the units are mistaken about the practice opportunity. 79% of economic power is with private entrepreneurs, and more than 59% are already invested foreign money from their business into cryptocurrency. Bitcoin is a worldwide opportunity, and the vital wallet supports avoiding mistakes and obtaining a reasonable chance of making good decisions. Digital wallets depend on the selection process and vital tips that ensure safety.
One of the great supports a person can anytime ask for from the blockchain technology that has a direct link with the Bitcoin wallet is transparency. Knowing about the information and getting the fine details about the payment made by the person into a different account is impressive. No person can handle the Macro environment as it is fluctuating and highly uncontrollable. The microenvironment around the Crypto can be handled by a person and modified according to their preference. Bitcoin wallet is a part of the microenvironment as anything that happens in the wallet is alternative and can be altered by choice.
Transparency should be present at every step because it avoids the thread and provide the safest option and clear the process from the second choice. Moreover, it is the best way of detecting the problem and harmful glitches.
The digital environment or the modernized banking encrypted with the digital wallet opens a good response for the people to experience a user-friendly environment. There are very few things in the market which make an impression of perks and safety. The wallets of Bitcoin are pre-installed in the application, which directly takes the electronic units into the storage space after the purchase. The user has the right to practice exchanging the unit. The majority of people using electronic devices, computing systematic software, and cameras experience many forms of Bitcoin wallets.
Bitcoin software does not allow the user to take the backup if the amount is sent to the wrong address. The software does not accept any justification if the person provides one in case of an incorrect address. But the Bitcoin wallet gets a backup option that has the momentum of providing the notification when deducting the amount. The backup option also holds vital information from the losses and provides safety rules applied in the function of Bitcoin. The currency is excellent in providing permission, and every backup process is taken after the individual’s rights. Till today no Bitcoin user has avoided taking a backup as they provide an independent formation to a person for safety purposes.
Today’s digital units facilitating people with the private key also give them the experiences of ownership. If a person feels connected to our currency for transfer, relocating or trading, they become more focused on applying for more units. A currency and mechanism become successful in the public if people check the positive side and positively provide others with the information. Becoming an owner of a fresher currency itself is a significant and valuable thing. The digital owner is also provided with the safest environment where they can control their currency and get the brightest return in the digital wallet. A bitcoin wallet is only a place where the coin is kept. It is an independent approach of a person to acquire practical guidance.
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