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Paying for College: A Gift That Keeps On Giving – Helpful Strategies for Grandparents to Lend a Hand



Adding in the cost of college tuition, fees and housing and this number can easily double. But paying for college shouldn’t require winning the lottery. Careful coordinated planning by parents and grandparents with the help of a trusted financial adviser can help to reduce the burden on families and their kids.

Before Grandma or Grandpa Writes a Check

Having the help of a relative certainly will take off some of the pressure. But before anyone writes a check, you should have a serious discussion about how best to help.

Providing help in the wrong way can be harmful to the student’s chances for getting financial aid.

Consider these strategies that will help the student in a financial-aid friendly way.

Consider Paying for Student Loans After Graduation

Financial aid is based on various formulas to calculate the Expected Family Contribution (EFC). Most of this is based on the information provided on a student financial aid form about parental and child assets and income.

The financial aid forms do not ask about financial assets of other relatives.

If you or a relative are in the fortunate position of having extra cash, you may be inclined to help. But providing a gift of cash directly to the parents or the student will result in an increase of reportable assets which will reduce the calculated need, increase the EFC and, in turn, reduce the amount of possible financial aid.

And if a helpful relative steps up and indicates that they will help, then the financial aid office will also reconsider the financial need of the student. Money paid to the school on behalf of the student could be considered to be like any other outside resource such as a private scholarship which reduces the aid offered by the school.

A better way is to let the student qualify for the maximum aid while still in school and then helping out by contributing toward paying off the loan balances.

Family EFC Too High?

For those who know that their EFC is too high to qualify for aid, there are still options for grandparents who are still able to help out. These options at least offer some tax savings to them.

Tip #1: Pay the College Directly

Since aid is not going to be affected, then simply pay the school directly. Each grandparent can give up to the annual gift limit ($13,000 in 2010) to each student. This will help reduce the taxable estate of the grandparent and is an exempt gift to the student.

Tip #2: Establish a 529 Savings Plan

For grandparents who want to help out with college costs, a qualified tuition plan offers a great choice. Money set aside in these plans can be used for eligible expenses like tuition, fees, books and equipment.

These accounts offer a variety of investment options that can be tailored to the time frame before funds are needed. The funds grow without any taxes and if used for qualified expenses can be withdrawn tax free.

Grandparents can transfer large amounts of cash into these accounts without triggering gift tax. Each grandparent can effectively deposit up to five years of annual gifts which right now is $65,000. The assets in these accounts remain in the control of the grandparent and are not countable assets for the student.

Tip #3: Gift Appreciated Assets

Assuming that the grandparent has long-held assets that have increased in value, one way to pay for college tuition and lower a potential tax bill is to gift these highly appreciated assets to someone in a lower tax bracket. This could be the child or the parents.

This saves on the large capital gains tax bill that the grandparents would likely incur if they were to sell the appreciated asset and use the proceeds to help pay for tuition or other expenses directly.

Tip #4: Set Up a Charitable Remainder Trust

For those who are both charitably inclined as well as desiring to help out a student, the grandparents can establish a trust.

A Charitable Remainder Trust can be funded with highly appreciated assets which can then be converted into income-producing assets. The income that is generated can be used for helping the student. Eventually, the remaining assets can then be gifted to the charity. This strategy helps grandparents avoid paying capital gains on the assets and removes the asset from the taxable estate. While not an issue this year (no estate tax in 2010), this will change in 2011 with no congressional action.

For more tips and help, consider using a qualified college aid planner.


Astro Crypto: Summer Bitcoin Slump Could Bring Bountiful Fall Harvest



bitcoin harvest full moon astro crypto

The stars are older than all of us, and older than history itself. Yet bring up astrology with the Bitcoin crowd, and for the most part the response is skepticism or even mockery. Both the study and the cryptocurrency itself share several similarities, such as a mathematical foundation, cyclical behaviors, and unusual financial applications.

If you are the type to believe, or are just curious, a notable full moon is passing, leading into the autumnal equinox tomorrow. How might this seasonal shift impact the cryptocurrency market trend, and how does math apply to what many believe to be pure myth?

September Harvest Moon Could Bring Bounty For Hard Summer Work

Planets all revolve around the sun. Their position at the time each person is born and there forth is believed to instill certain influences at distinct moments. Depending on the rotation and layout of the planets, it can have all kinds of seasonal impacts. The Farmer’s Almanac uses such cycles to predict how much snow each winter holds, for example.

Certain conjunctions are said to bring about famine, drought, or worse. For example, historians believe that a a triple conjunction of Saturn, Jupiter and Mars caused the Black Death plague.

Related Reading | Interview: Crypto Damus On Successfully Combining Bitcoin TA With Financial Astrology

The late WD Gann used planetary influences along with math to predict tops and bottoms with “legendary” precision. He taught no one his tricks, but left all kinds of bizarre mathematical tools behind that few know how to take advantage of.

So how does this all impact Bitcoin?

The Harvest full moon hasn't appeared on the chart yet its so fresh | Source: BTCUSD on

The new moon and full moon chart alone shows significant correlation with Bitcoin price action. Just last night as BTC plunged near $40,000, the full Harvest moon and last full moon of the summer was passing. The moon was named for the fact that farmers used the moon’s light to work late into the night on annual harvests ahead of colder months.

It has been a long, arduous summer for crypto holders, but this moon could be a sign that its time to reap the fruit of one’s labors as the autumn equinox hits.

Could The Fall And Golden Ratio Be The Key To The Next Bitcoin Peak?

The equinox signals change is coming. Change in the season; change in the way humans behave based on those seasons. Seasonality in finance is real, hence the phrase “sell in May, and go away.” The opposite idea is called the Halloween Effect, where investors buy up assets big time to sell around the holidays when enthusiasm is highest.

Seasonality and equinoxes don’t always work with the first ever cryptocurrency, but when combined with the power of the Harvest full moon and other favorable mathematical positioning, there is a recipe for something special.


After holding above the golden ratio, the final leg up comes in the autumn | Source: BTCUSD on

Each final leg up in each Bitcoin bull run has begun at the autumnal equinox, driving to new all-time highs until the winter equinox arrives. Since fall arrives each year, but the same effect doesn’t occur, the necessary ingredient for liftoff is a pullback to the golden ratio.

Related Reading | Mercury in Retrograde: Why Bitcoin Traders Fear The Astrological Event

Bitcoin price has always retraced back to the golden ratio, before blasting off to the end of the cycle. Below it has never been filled no matter the cycle. If the same scenario plays out, anyone that has survived the summer’s bearish heat, will have a very happy holiday season.

To be fully clear, everything written here is pure conjecture based on correlation and past cycles and performance. These aren’t a guarantee of future results. But when the math adds up and Fibonacci is everywhere in nature, why wouldn’t the sum of the full moon, autumnal equinox, and Bitcoin be something very interesting.

In closing, we’ll leave you with the JP Morgan quote:

Millionaires don’t use Astrology, billionaires do.

Follow @TonySpilotroBTC on Twitter or via the TonyTradesBTC Telegram. Content is educational and should not be considered investment advice.

Featured image from iStockPhoto, Charts from

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XRP Prices Heads Into a Down Trend, Users Decline 8.15% in 11 Days



XRP Prices Heads Into a Down Trend, Users Decline 8.15% in 11 Days
  • The US indices had their worst day since October.
  • The current RSI level is far from the oversold zone.

The XRP price is falling along with the crypto market this morning as a global risk-off hits markets. Ripple (XRP) is down 12% in early Asian trade.

For now, the 200-day moving average of $0.8804 is preventing a more severe decline. In the last 48 hours, cryptocurrencies have collapsed alongside Chinese equities as Evergrande, the country’s second-largest property collapses. The US indices had their worst day since October.

Bitcoin (BTC/USD) recently fell below the 200-day moving average at $41,823, further souring sentiment. The price of Ripple then briefly reached the 200 DMA at $0.8841. However, BTC has recovered $2,500 from the $40,255 low, assisting XRP in doing the same. Although still, this could impact the Ripple price.

Greedy Investors Drove XRP

However, if Bitcoin buyers emerge, the Ripple price should rise. If XRP closes above the 200-day moving average, a reversal may be underway. Until XRP clears the 100 DMA at $98.24 and trend resistance at $1.2000, it is cautious. XRP must rise above $1.2000 to be considered bullish.

Greedy investors drove XRP to a swing high of $1.41, far above the $1.35 swing high of August 15. The RSI formed a lower low during the August 15 and September 6 peaks, resulting in a bearish divergence. This barrier has been in use since early April. If this level is broken, any short-term buying pressure will be unable to reclaim it.

Also, the current RSI level is far from the oversold zone, indicating that the remittance coin has not yet bottomed. By the end of the first week of September, there were 31,316 daily active addresses. As XRP falls, so does the number of investors using the Ripple blockchain.

This metric hit a low of 28,761 on September 17, falling 8.15 percent in 11 days. As a result of the market participants’ lack of interest in the future of XRP, the price is likely to slip, leading to a downtrend. According to CoinMarketCap, XRP price today is $0.940204 USD with a 24-hour trading volume of $4,667,042,291 USD.

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Despite Dips, Bitcoin Exchange Reserves Reach Lowest Values Since 2018




On-chain data shows Bitcoin exchange reserves continue to decline despite the recent dips, as values reach lowest since 2018.

Bitcoin Exchange Reserves Continue To Go Down

As pointed out by a CryptoQuant post, the BTC all exchanges reserve is moving down despite the recent downtrend in the price of the cryptocurrency.

The Bitcoin all exchanges reserve is an indicator that shows the total amount of coins held on all centralized exchange wallets. A dip in the value of the metric suggests investors are transferring their BTC to personal wallets, either for holding or for selling through OTC deals.

On the contrary, an increase in the indicator implies investors are sending their coins to exchanges for withdrawing to fiat and stablecoins, or for purchasing altcoins.

Here is a chart showing how the Bitcoin exchange reserve has changed over the years:

The exchange reserve continues to decline

As you can see from the above graph, the BTC all exchanges reserve has hit lows not seen since 2018. Usually, during periods of big price swings, the indicator’s value shows a spike as investors look to shift their positions in the market.

Related Reading | Bitcoin Holders Take Profits As Price Falls, Indicators Remain Bullish? 

However, despite the recent dips, the metric has only been trending downward. What’s the reason behind this? Well, one possible scenario could be that there are now more long-term holders in the market that are waiting for the price to appreciate further before they make any moves.

A downtrend in the exchange reserve is often a bullish indicator as it shows buyers are accumulating Bitcoin, while an uptrend could lead to crashes in the crypto.

Below is another chart that shows the BTC netflow indicator over the last couple of days.

Bitcoin Netflow

Looks like the Bitcoin netflow showed a huge negative spike yesterday

The netflow indicator measures the net number of coins exiting or entering exchanges. As is apparent from the above graph, the metric had a big negative spike yesterday, which implies a large amount of BTC was pulled off exchanges.

Related Reading | Did Turkey’s President Say “We Are In A War Against Bitcoin”? An Investigation

BTC Price

Yesterday, Bitcoin’s price crashed down to $40k after peaking just below $49k a few days back. But the price has since jumped back a bit as it floats around $43k at the time of writing. The crypto is down 7% in the last 7 days, while over the past 30 days, the value is 11% less.

Here is a chart showing the trend in the price of the coin over the last five days:

Bitcoin Price Chart

BTC's price crashes down to $40k, but quickly recovers back up a little | Source: BTCUSD on TradingView
Featured image from, charts from, CryptoQuant
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During Times of Market Fall, Investors Turn to Core Assets



During Times of Market Fall, Investors Turn to Core Assets
  • Layer-1 blockchains enhance the underlying protocol itself.
  • Cryptocurrencies are seeing volatile price fluctuations.

The market has been down and is having a steep decline in the last 24 hours. Today, many cryptocurrencies lost value along with other assets like equities and commodities.

Layer One Protocol

After a year of gains and highs, cryptocurrencies are seeing volatile price fluctuations. Scalability is a must. Thus, anyone engaged in the crypto/blockchain sector has heard of “layer-1” and “layer-2” solutions.

In order to make the entire system more scalable, layer-1 blockchains enhance the underlying protocol itself. The most frequent layer-1 solutions are consensus protocol modifications and sharding.

Projects like Ethereum are switching from slower and more energy-intensive consensus algorithms like proof-of-work to quicker and more efficient protocols like proof-of-stake (PoS). One benefit of layer-1 solutions is that no additional infrastructure is required to be added.

Now, during such troubled times, the majority of the top coins belong to layer one protocol. Moreover, that is because investors have shown trust in these core assets.

Famous crypto analyst Lark Davis said in a tweet that out of 15 top coins right now, 10 of them belong to layer one protocol and how people turn to core assets at the time of market distress. Lark’s tweet:

Decentralized finance (DeFi) and the explosion in popularity of non-fungible tokens (NFTs) have been enabled by secure layer-one blockchain protocols capable of hosting smart contracts such as Ethereum. However, as more people utilise the top networks, transaction prices have skyrocketed and processing times have slowed.

Now, consumers unfamiliar with new technologies and who cannot pay hundreds of dollars for each transaction may utilize blockchain and DeFi, credit to layer one protocol.

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South Korean Province Captured Over $5M Worth Crypto for Unpaid Fines



South Korean Province Captured Over $5M Worth Crypto for Unpaid Fines
  • Gyeonggi province had captured 6.1 billion won in cryptocurrencies.
  • The regulators have organized an investigation of 29,656 companies.
  • The frozen food company CEO had 600 million won in cryptocurrency.

Gyeonggi Province is one of the most populous provinces in South Korea. In last week Gyeonggi province has announced that it had captured 6.1 billion won in cryptocurrencies the wroth is nearly $5.15 million from around 1,661 people who unpaid the fine of a total of 14.4 billion.

Accordingly, the regulators mentioned that May to August last year. The regulators have organized an investigation of 29,656 companies and individuals who were troublesome on their payment of over 1 million under the category of non-taxable income. The investigation also includes examining their cryptocurrency assets at four exchanges.

More so, in South Korea, the income enforced and collected following the Administrative Procedures Act which includes government fees and fines is referred to as Non-taxable income.

Eventually, if a clothing wholesaler failed to pay the enforcement fees of 20 million enforced on him last year for unauthorizedly developing an extension of his factory. The investigation which conducted by regulators revealed that the clothing wholesaler had 500 million won in cryptocurrency.

Furthermore, the frozen food company CEO had 600 million won in cryptocurrency. Even though the CEO has paid 40 million won in fine, which includes the enforcement fees enforced because in 2017 the CEO illegally shifting his business establishment to a warehouse.

Since 2018, the local real estate rental company owner has 50 million won in arrears for developing an unauthorized extension and making land quality change, now owned 60 million won in cryptocurrency.

Moreover, in a local media, the head of Gyeonggi’s taxation department, Kim Min-Kyung mentioned,

“It is the largest amount of cryptocurrency seizure in the country for nontaxable income delinquents.”

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Did Bitcoin Really Experience A Flash Crash Down To $5,400?



Picture of a slightly slanted gold bitcoin in front of a candlestick chart

Bitcoin has been plagued by numerous dips that have left the price of the asset at one-month lows. Monday was brutal for the cryptocurrency as the close of the weekend drew in with its low momentum in the market. This, in turn, led to the market experiencing a downtrend. Most notable was the price of bitcoin actually dropping into the $42,000 price range.

While the market dealt with this, a record flash crash happened on the trading platform Pyth Network. The crash was so significant that it saw the price of bitcoin lose almost 90% of its current value. The price crash lasted for approximately two minutes. Driving the price of bitcoin down to as low as $5,400 on Monday. The crash happened between the BTC <> USD pair on the Pyth Network. The Solana-based solution also saw the confidence interval (four times the asset reported price) for bitcoin drop to $21,623.

Related Reading | Just 10 Days After El Salvador’s “Bitcoin Day”, President Bukele Confirms 1.1 Million Citizens Have Chivo Wallet

Pyth Network acknowledged the crash on their Twitter account, where they assured their users that they were working to figure out what caused this. “Engineers are continuing to investigate the cause and a full report is in the works,” it said.

BTC price recovers after falling to low $40K | Source: BTCUSD on

Why Did Bitcoin Crash So Much?

It is still not clear what the reason behind the crash was. So far, there seem to be no other pairs affected by the crash. And no other cryptocurrencies have been reported to have suffered the same fate as bitcoin. The crash led to massive liquidations on the platform, which were, “unfortunately working as intended,” tweeted Bonfida.

Related Reading | While Broader Crypto Market Holds Its Collective Breath, Whales Are Loading Up On Bitcoin

The crash no doubt affected a number of Pyth Network users. The network has apologized to affected users, saying, “We’re very sorry for any hurt incurred for Pyth customers.” And the team has asked those affected by the flash crash to reach out to the team either through Twitter or Discord. The team continues to work on figuring out the cause of the crash and will produce a report of their investigations.

Featured image from Yahoo Finance, chart from

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OMG Network (OMG) Shows Bullish Sign Surging 30% in a Week



OMG Network (OMG) Shows Bullish Sign Surging 30% in a Week
  • OMG shows bullish signs surging 30% in a week.
  • It provides cross-platform payments on the blockchain. 
  • OMG Network’s (OMG) price is trading at $10.65% 

A value transfer network for Ethereum and ERC-20 token is the OMG Network. In the past few days OMG network showing a bullish signal. Now, OMG Network (OMG) shows bullish signs surging 30% in a week.

Currently, OMG Network consists of a team of more than 50 employees derived all over the world. It was developed to help make Ethereum more attractive to businesses. OMG Network contains a proof-of-stake (PoS) consensus mechanism, this will enable users to stake their OMG tokens to help secure the network and earn rewards.

Furthermore, OMG, the utility token of OMG Network is utilized as one of the payment options for fees on the OMG Network. Child chains of OMG Network are secured by a proof-of-authority (PoA) consensus system. The child chain behaves as a transactional chain of the parent-child architecture.

More so, it provides cross-platform payments on the blockchain. This open payment network and decentralized exchange (DEX) abide in the Ethereum blockchain and enable a scalable and fully open alternative for users.

Furthermore, the users of OMG will enjoy low fees, quick transaction, and cash-out options. The OMG Network has launched a new scaling solution that increases the transaction speed.

Current Market Staus of OMG

According to CoinMarketCap, OMG price is trading at $10.65% with a 24-hour trading volume of $4,355,392. The circulating supply of OMG is 140,245,398.25 OMG and it spikes 21.65% in the last 24 hours. In the past 7 days, OMG has surged over 30%.

The above chart shows the bullish trend over the last 7 days. In the past 7 days, OMG has increased from $8.5 to $10.65. OMG Network can be traded in the crypto exchange such as Binance, Mandala Exchange, Huobi Global, OKEx, and FTX.

In addition, the upcoming updates and upgrades will boost the price of the OMG. Eventually, crypto traders can expect more surges in the forthcoming days

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Top 3 Play to Earn Token by Volume



Top 3 Play to Earn Token by Volume
  • The top 3 plays to earn tokens by volume are AXS, GALA, SAND.
  • Axie Infinity is the blockchain-based play-to-earn platform. 
  • The players of Gala Games can own non-fungible tokens (NFTs).

Play-to-earn enables gamers and gaming enthusiasts control over in-game assets, also enabling these gamers to raise the value of these assets by continuously playing the game. The top 3 plays to earn token by volume are Axie Infinity (AXS), Gala (GALA), and The Sandbox (SAND)

1. Axie Infinity (AXS)

Axie Infinity is the blockchain-based play-to-earn platform. It was partially maintained and operated by its players. Axie Infinity’s players take colorful, blob-like creatures which are known as Axies to obtain two kinds of coins such as Smooth Love Potions (SLP) and Axie Infinity Shards (AXS). More so, Axie Infinity (AXS) token is an ERC-20 token that was developed on the Ethereum blockchain.

According to CoinMarketCap, Axie Infinity’s (AXS) price is trading at $56.28, with a 24-hour trading volume of $356,196,236. In the last 24 hours, the AXS volume was increased 29.33%. At the time of writing the circulating supply of AXS is 60,907,500.00 AXS.

2. Gala (GALA)

The second top pay to earn tokens by volume is Gala (GALA). It has been designed to provide power to the gaming industry. Gala Games has developed an ecosystem in which players and creators may be rewarded for their participation. Furthermore, it operates many games, and there is a chance to trade items obtained from them in the blockchain. The main mission of the Gala games is to develop blockchain games that really users want to play. The players of Gala Games can own non-fungible tokens (NFTs) within the Gala Games ecosystem.

As per CoinMarketCap, Gala’s (GALA) price is trading at $0.1084 by gaining 17.84 in the last 24 hours. A the time of writing, the 24-hour trading volume of GALA is $267,498,683, GALA volume surged 32.56% within one day.

3. The Sandbox (SAND)

Software running on Ethereum that works on a decentralized virtual gaming world is Sandbox. Sandbox native token SAND is utilized to provide different transactions that are part of its gameplay. Henceforth, it uses the proof-of-stake (PoS) consensus mechanism. Sandbox seems to be one of the unique platforms because it fetches blockchain technology to the world of gaming.

Accordingly, at press time, the SAND price is trading at $0.6553 with a 24-hour trading volume of $162,208,685. As per CoinMarketCap, the trading volume of SAND has increased 6.87% in the last 24 hours. The circulating supply of SAND is 892,246,119.22 SAND

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PayPal Launched a New App for All Digital Payments



PayPal Launched a New App for All Digital Payments
  • PayPal has launched a new application. 
  • The app is considered as a one-stop-shop for all digital payment needs.
  • The new app includes both crypto and non-crypto use cases along with a wallet tab.

PayPal has launched a new application. To add, the app is considered as a one-stop shop for all digital payment needs of the platform’s users. 

Back in July, PayPal CEO Dan Schulman said the platform’s app was getting ready for a release in the US. As per the release on Tuesday, the new PayPal app will allow customers to access all digital financial products of the platform. 

Moreover, the new app includes both crypto and non-crypto use cases along with a wallet tab. More so, the wallet tab is to manages the digital asset payments and also high yield savings. Aside from all, PayPal also collaborated with Synchrony Bank, an online bank. Hence, this is to offer high yield savings account through the new app. 

Added to this, the virtual asset payment giant announced that users can get up to 0.4% annual percentage yield on their savings with the new app. Even more, users will also be able to withdraw their earnings from the savings account to the balance in PayPal to utilize in online shopping. 

Other features will be bill payments, cashback, and rebates, also direct deposits. In addition, the latter feature will reportedly allow users to get payments before 2 days. 

PayPal will also add even more features in the coming days. Furthermore, the announcement of a new user app comes only a few days after the firm debuted digital asset trading for customers in the UK. 

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Binance Customers in Australia Will No Longer Open New Positions



Binance Customers in Australia Will No Longer Open New Positions