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Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Personal Finance
6 Profitable Ways You Can Use Your Extra Money
Dec 12, 2022
Image: Pixabay/stevepb
A lot of people deal with financial stress, meaning they lack money. That’s definitely an unenviable situation. And then there are those who have either gotten a raise, or they’ve received an annual bonus, and now they’re not sure what they’re supposed to do with it.
In these types of situations, you have two options at your disposal. You can either treat yourself and purchase something you’ve been longing for, for a while, or you can use that cash in a smarter way.
What do we mean by “smarter way”? Well, there are so many things that you can do that will help you build wealth and secure a much better financial future. Want to uncover them? Then scroll below!
Smart Things That You Can Do With Extra Cash!
Consider P2P Lending
What do we know about it? In a nutshell, when someone wants to lend money to other companies or individuals, then this whole process is known as peer-to-peer lending. Normally, when someone needs to urgently borrow some cash they would go to a particular financial institution (a bank, for instance) to apply for a loan.
However, that’s not the case with P2P lending. Namely, in these instances, you do not need any mediator, but instead, it will directly connect people who have cash and individuals who seek loans.
This is generally a great alternative for both borrowers and lenders. For instance, if you are a lender, once you loan your money to someone, you can receive a return in form of interest. If this sounds like an excellent way to earn more bucks, yet you would like to know more, it would be advisable to rely on the information from P2P Empire website because out there, you’ll quickly figure out how to invest in P2P loans. After all, it is the number one site when it comes to this.
Don’t Forget Your Emergency Fund!
Anyone no matter how great/bad their situation may be should have an emergency fund to cover their living costs for at least a couple of months. If you do not already have one, now is a great time to add some money to it.
Even though this isn’t an actual investment, it will definitely help you safeguard all your other investments.
What Are Your Other Options?
Consider Investing
If you’ve never done it before, then for starters, you can opt for products such as mutual fund systemic investment plans, which are known as SIPs, and fixed deposits. What's great about mutual funds is that they provide you with a vast range of funds to invest in, depending on how much you are willing to risk.
On the other hand, fixed deposits have much lower risks in comparison to other investment tools, plus you will be slowly working on expanding your nest egg for the future.
Opt For Other Investment Alternatives
If the suggestion above, doesn’t seem too appealing, then maybe you should consider other options. For example, if you want to purchase individual stocks, you can research firms you’re optimistic about and believe will do better in the future.
On the other hand, if real estate piques your interest, then you can always gather more useful information regarding real estate investment trusts. Namely, REITs represent companies that either own or finance income-producing real estate.
A lot of them trade on stock exchanges, hence you can purchase them within your taxable brokerage account, or IRA account. If by any chance, you’re interested in the continuously evolving space of alternative investments, then you can take cryptocurrency into account.
Pay Off Debts Or Student Loans
According to the study we've stumbled upon on NerdWallet, physicians and dentists have some of the biggest student loan debt balances. Now, if you have a student loan with high-interest rates, then it would be advisable to use that cash you received to pay off your loans or at least refinance.
See: 3 Reasons Why Ethereum Is a Good Investment
Before you consider refinancing your loans, just be sure to take into account your eligibility for student loan forgiveness. On the other hand, if you currently have any debts (such as credit cards), it would be wise to pay them off.
Invest In Some Skills
One of the best investments that you can make is in yourself. It’s always a great idea to invest some money in your skills because precisely they can open up your career prospects, meaning that you’ll be earning more money in the future.
Image: Pixabay/stevepb
We know that right now you are probably too excited because you've just received some extra cash. But don't flush it away so quickly, instead, go through these suggestions and pick the one that currently seems like the best option.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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What Is the Best Age to Begin Investing?
Guest Post | Dec 9, 2022
Image: Pixabay/Tumisu
Some people think about investing at a young age, while others only start considering saving money when retirement is around the corner. The general consensus is that the earlier you start investing — the better, but in reality, it is possible to invest successfully regardless of your age. If you want to invest money online and earn passive income for a certain goal, you can do that at any age. Read along to find out about the prime time to start investing.
When Should I Start Investing?
The short answer is that you should start investing right now if you have not already, as long as you are 18 or over. Luckily, investing is possible for all demographics, but your objectives and the amount of investment capital will differ depending on your age. One of the most popular goals for investing is saving up for retirement. If this is the objective, here is how this will work for different age groups:
- Twenties – there is as much time before your retirement as it could possibly be. You can experiment with different investment strategies and invest in various projects and markets. You can take higher risks for higher returns.
- Thirties – a few decades left before retirement still. People in their thirties usually have more savings than those in their 20s, which opens more room for investing and taking risks.
- Forties – there is still enough time before retirement, but you should definitely have a plan by this time to invest efficiently and save up the necessary amount of money regularly to have the desired capital in time.
- Fifties – believe it or not, people still can invest in their retirement in their fifties. However, it is recommended to cut on the risks and invest slowly but steadily toward your goal.
Of course, saving money for your retirement is considered a long-term investment even if you are in your fourties. However, there are many other investment objectives, and you should always consider your time limitations and starter capital carefully.
Investment Solutions
There are many different ways to invest, and each of them can be fitting for your specific age group. Nevertheless, it is always better to explore all the options and become familiar with the investment solutions available. Here are some of the most common money online investment types:
- Shares – while other investment solutions are safer and more stable, shares can provide great returns. As they are usually riskier and more expensive, it is advised to invest in stocks if you have some experience already.
- Bonds – when buying bonds from a business, you are essentially offering it the funds that they need to raise for a certain cause. In return, you receive regular payouts.
- Investment funds – many convenient services collect money from different investors and direct it towards different markets or companies. Quanloop is one of the alternative investment funds suitable for beginners as well. There are different investment plans based on the level of risks that you can use to invest more securely or aim for higher returns.
- Crypto – cryptocurrencies are extremely popular today, and while they can be used as a money alternative to paying for products and services, people often use them simply to invest their funds. With cryptos, it is common for certain tokens to grow in price rapidly and unpredictably, which is why holding on some coins might pay off if you are patient.
If you were out of ideas on where to invest money online, you can browse some of the options listed above to find what suits you best.
Bottom Line
Of course, it is best to start investing when you are young as you can learn from your mistakes. It is also possible to invest a small amount and let it grow over time even with a small return rate. But not everybody had the luxury to invest money when they were in college or struggling to pay rent in their twenties.
See: Investing Your Money: An Easy Guide For Beginners
People in their thirties and forties often have more means to invest in different projects and diversify their investments. In any case, experts advise that you should start thinking about investing now and look through your options available today. With convenient online investing, this process becomes accessible to everyone.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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CFTC Commissioner: Average Retail Investor Protection Should Be Different Than Millionaires
Decrypt | Alys Key | Dec 1, 2022
Image: Pixabay/geralt
The CFTC chief has proposed that the average crypto investor should get different protection from professional and high-net-worth individuals.
- She added that she was not seeking to cut off the average investor’s access to the markets altogether but would seek public input on what kinds of extra protections should be afforded to these users. Initial ideas include easy-to-understand disclosures and limitations on leverage.
See: CSA releases 2022-2025 Business Plan focused on investor protection
- She was critical of the shift towards giving users direct access to the markets via trading apps, saying that a broker traditionally adds an extra layer of protection for the customer. I caution against market structures that remove a broker’s duties to retail customers without a full assessment of what will be lost,” she said.
- Romero also called for her agency to invoke “heightened supervision” of crypto exchanges, adding she had been calling for such a move internally for months.
Continue to the full article --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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How To Make Sure You Get A Good Deal While Car-Shopping
Nov 10, 2022
Image: Unsplash/Ivan Kazlouskij
A person's car is one of the most important investments they will make in their lifetime, and it can significantly impact their quality of life. Whether buying your first car or planning to upgrade to a newer model, knowing how to get the best deal is essential to ensure you get the most value out of your investment. This guide will provide a few tips to help you make sure you get the best deal while car shopping.
1. Consider Your Budget
When buying a new car, your budget is one of the most important things to consider. Not only do you need to think about how much you can afford to spend, but you also need to be aware of the ongoing costs of owning a car.
If you're on a tight budget, consider buying used. Not only can you get a good deal on a gently used car in Minnesota, but you'll also save money on the initial purchase price. If you need the cash to pay for your vehicle upfront, look into various available auto financing options. This will help you keep your monthly payment low and ensure you get the best deal possible.
2. Decide What Type of Car You Want
When shopping for a new car, one of the most important decisions you'll make is what type of car to buy. Not only do you need to think about your needs and budget, but you also need to choose a car that will fit your lifestyle.
Image: Unsplash/Obi - @pixel6propix
For example, if you have a large family, you'll need a vehicle with plenty of seating and storage space. You'll need a car with good gas mileage if you commute long distances daily. And if you like to take weekend road trips, you'll want something that has room for all your luggage.
3. Get a Vehicle History Report
One of the most important things to do when shopping for a new car is to get a vehicle history report. A vehicle history report will tell you everything you need to know about a car's past, including how many owners it has had, whether it has been in any accidents, and whether it has been recalled.
Most dealers will offer three different types of reports: basic, which includes information on the car's ownership and accident history; extended, which includes additional information like service records and lien data; and premium, which includes all of the information from the basic and extended reports plus historical data on how much the car has been worth over time. This last type of report is typically only available through third-party vendors, so make sure you shop around to find the best price.
4. Negotiate a Fair Price
One of the most important things to do when buying a new car is negotiating a fair price. Remember, car prices are not set in stone. So if you're willing to play hardball, there's no reason you can't get the best deal possible on your next car.
Start by finding out what other dealers are charging for the same car you're interested in, and make sure to get a sense of the overall market conditions. This will give you a better idea of how much room there is to negotiate on price. When negotiating a price, it's important to be firm and stick to your guns. It may help to have a set maximum price in mind that you won't go over under any circumstances.
5. Check the Car Before You Buy
Sometimes what looks like a great deal online or in a classified ad will turn out to be less than perfect once you inspect it. It's always a good idea to have a mechanic check out your potential purchase before you buy, especially if you're buying from an individual.
Most dealerships also offer this service; some will even let you bring your mechanic in to look over the car. This is a great way to ensure your purchase will only cost what you bargained for.
6. Consider Buying an Extended Warranty
If you want the most value from your new car, consider buying an extended warranty. These warranties help protect you if anything goes wrong with your car after the manufacturer's warranty expires. You can either purchase this type of coverage from the dealership, or you may be able to find a third-party vendor that offers better deals. Just do your research first and shop around to find the best price.
See: Auto Transport Guide For The Business Owner
Shopping for a new car can be both exciting and stressful. But by following these tips, you can get the best possible deal on the perfect vehicle for your needs and budget. Remember, it probably is if the price seems too good to be true. Do your research and always be willing to negotiate, and you're sure to get a great deal on your next car.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Top 5 Crypto-Tax Haven Countries for 2023
Nov 9, 2022
There is a steady rise in the use of cryptocurrency in trading, investment, and as a mode of payment. Currently, some online freelancers accept bitcoin and other cryptocurrencies as a form of payment in their business.
However, one chief reason investors of cryptocurrency and other digital assets worry about is tax liability.
Despite several nations applying levies on taxes on income and capital gains from bitcoin transactions and putting pressure on investors, some approach this differently, intending to innovate and adopt the crypto industry.
These nations have implemented laws allowing investors to engage with digital assets without tax liability. If you’re ready to join the surge of new crypto investors, Advanced trading platform offers a reliable and user-friendly experience, especially for crypto beginners who are new to the industry.
Now let’s visit the countries with the most crypto-friendly laws.
Germany
Germany categorises cryptocurrency as neither a commodity nor a digital currency. Instead, German law calls this ‘Private money’, implying that VAT on sales and purchases will not be applied to them.
In addition, Bitcoin and other cryptocurrencies are also spared from the long-term capital gains tax. This means that if a cryptocurrency is held for more than a year before selling, the investment earnings from this sale will not be taxed regardless of the amount.
For short-term capital gains tax, which would be the sale of Bitcoin within a year or less, it would only be applicable if the amount is more significant than 600 euros.
Take note that these guidelines are suitable for resident individual investors only. Businesses that engage in cryptocurrency trading are not exempted from corporate income tax like other assets.
As a result, cryptocurrency investing would be an intelligent move for online freelancers and workers who live in Germany as they have better taxation requirements than other countries.
However, if the German business accepts bitcoins and other cryptos as payments, this will be subject to corporate income tax.
Singapore
Singapore is a crypto tax haven as there are no capital gains taxes. A cryptocurrency holder does not have to pay capital gains tax, whether an individual or an entity, as crypto, is intangible property.
However, businesses that engage in cryptocurrency trading will pay taxes for the revenues they generate. In addition, companies will pay income tax if they accept cryptocurrency as a form of payment for services and products.
Singapore is preferable for businesses independent from a location as tax residency is based on the site of business operations. Thus, companies would be attracted to Singapore to register their business there.
Portugal
Portugal is acknowledged as one of the most crypto-friendly countries as its government declares crypto trading and all transactions to be nontaxable for individuals.
Individuals who exchange crypto for regular currency will not be taxed as there is no capital gains tax or income tax on revenues generated from crypto trading.
Furthermore, the sale and purchase of cryptocurrency will not be VATable, which means individuals who engage in these will be tax-free.
Portugal is also favourable for digital nomads as it has an easy tax residency process.
However, this privilege is given to individuals only as entities that accept digital currencies as payments have to pay income tax and VAT from these sales.
Belarus
Belarus has exempted crypto mining, buying, and selling from tax for both individuals and entities until 2023, as per the Presidential Decree on the development of the digital economy of 2018.
Special economic zones house high technology parks to mobilise innovation in digital financial technologies. No taxes will be applicable in any crypto-related activities in these zones, excluding the 1% turnover tax.
There is now ease in obtaining a residential status in Belarus, and places like Minsk are perfect for digital nomads.
Slovenia
Another nation that does exempt individuals from capital gains tax in cryptocurrency transactions is Slovenia. However, businesses pay income or corporate tax if they accept payments in crypto.
See: Canada: Release Of Draft Tax Legislation For Consultation including GST/HST for Crypto Mining
This article only informs the reader about cryptocurrency trading and does not serve as a financial guide.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Can Canada go Cashless?
Global News | Alley Wilson & Anne Gaviola | Oct 29, 2022
Whether you pay by debit, credit, mobile wallet or smartwatch, speed and convenience are driving the way Canadians are choosing to pay, but it all comes with a price — cash as a payment option is steadily declining.
- Cashless is Trending
- Pandemic: The spike in digital adoption was fuelled in part by the pandemic, as Canadians turned to virtual, mobile and online payment transactions in record numbers.
- Payment options: In Canada, credit cards remained the top method of payment followed by debit, with Canadians reiterating ease, speed and convenience as the reasons they opt for plastic over cash, according to Payments Canada’s most recent report.
See: Cashless society: We need to take digital jail seriously
- With Canadians opting for more contactless, digital forms of payments, more doors open for newer, more futuristic in-store shopping experiences, like Aisle 24. “We have people coming into our stores with nothing but their phones or nothing but their watches because that’s the trend,” says Yong, adding that most customers are in and out of Aisle 24 within five minutes.
- Trust: "Part of Canada’s success with switching to contactless forms of payment is that we trust the technology" - Mark Hayward, Associate professor at York University
- A recent Global Payments Report projects that by 2025, cash will only make up three per cent of all point-of-sales transactions in Canada — one of the lowest cash payment rates in the world.
- We need to think about equal access to services: Hayward says a cashless society isn’t just about the selling and purchasing of items, but it’s a much broader question about caring for everyone around us and making sure everyone has equal access to services.
- “We can think about this in terms of older users who don’t want to use new technology. We can think about this in terms of unhoused people who may not have bank accounts for whom access to digital commerce may be very difficult.”
- There are still a lot of businesses that rely on cold, hard cash. “The cafe down the street is still cash only. The liquor and lounge across the street, they’re cash only. The barber shop where I get my haircut, she’s cash only,” she says. “There are a lot of cash-only places.”
See: Card Usage is Declining to Digital Wallets: Fee Structure is Unsupportable and Facing Competition
- In a report, Nye wrote that even though cash transactions are declining, demand for cash was at its highest level in 60 years. Nye adds the reason why Canadians stash cash during tumultuous times is because it provides a sense of comfort and security. “It protects against things like cyber vulnerabilities, potential power outages, telecom outages like we saw this summer. There’s some safety that’s afforded by having access to physical cash.”
- Although experts like Nye believe Canada is still a long way from becoming a truly cashless society, there’s still talk of new currencies and services, such as micro-payments, buy now pay later, crypto or even central bank digital currencies, which our central bank, the Bank of Canada, is studying.
Continue to the full article --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Opinion: Crypto and Financial Inclusion – Dispelling Narratives
Brookings | Tonantzin Carmona | Oct 26, 2022
Conclusion
Before embracing cryptocurrencies or overstating their potential, policymakers should first clarify the problems they are trying to solve, and more importantly, why they are trying to solve them.[87] When it comes to crypto and financial inclusion, there are fluctuating and contested terms and narratives. Thus, it may be difficult to discern what groups, problems, or pain points we are striving to address.
When examined closely, crypto’s current capabilities do not match the needs of the groups it purports to serve, and it carries a host of risks and drawbacks that undermine its benefits. More alarming, we can observe parallels between crypto and other predatory products, which highlights crypto’s potential to exacerbate unequal financial services to historically excluded groups.
See:
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BIS Report: Can CBDCs be designed to help financial inclusion?
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So what is financial exclusion in the era of Open Finance?
Considering this reality, we can either encourage inequitable and exclusionary banking systems to persist by enabling others to profit from the inequities, or we can develop the courage to ensure that banking is truly inclusive. For these reasons, rather than endorse crypto as a tool for equity, we should instead promote and explore policy solutions that can more directly and impactfully achieve and bolster financial inclusion.
Continue to the full article --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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