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Mortgage Life Insurance – The Best Approach



Insurance is risk management. So, for each type, you need to identify the risk to cover and the best way to do it. Mortgage life insurance, like other insurance types, could be expensive, so you need to understand that the inherent risk is the same as for normal life insurance. Besides, there are different ways to get it.

Financial institutions sell mortgage life insurance to protect them from potential loss on the death of mortgagees. Financial institutions, instead of family members or others you choose, benefit from these policies.

Let’s look more closely at how mortgage life insurance might arise. If you borrowed $100,000 from a bank to buy a house, the bank would write its name on the property’s title, and so, become a co-owner up to the loan’s value. This is the typical mortgage.

If you died before you repaid the mortgage, the bank would have two choices. It might sell the house and give your beneficiary the difference between the amount they got on sale and the outstanding loan. Alternatively, it could allow your beneficiary to take over the mortgage loan and repay it. To do the second, the bank would need to be comfortable with the beneficiary’s finances after your death. The bank might accept the alternative if your life insurance and other assets provided enough income to pay the mortgage and give your dependents an acceptable income to live on.

Another way to deal with mortgage insurance when you get a mortgage is for you to insure your life for the mortgage’s full value. This would supplement existing regular life insurance coverage. However, this does not look holistically at your finances, so I do not think it is the way to go. You might not need more insurance.

Mortgage life insurance sold by a financial institution can be expensive and has disadvantages. First, the insured amount falls as the mortgage balance drops over the mortgage’s life, but the premium does not fall. Second, unlike a term life policy, the bank has the right to hike premiums. Third, it is not portable. So, if you switch your mortgage, you need to reapply for life insurance with your new bank.

You would be better off to review your financial affairs and if needed, buy extra term insurance from an insurance company. You would own the policy. The financial institution wouldn’t. Your spouse or others you choose, would be the beneficiary, not the bank. And your spouse or dependent would have the choice to take over the mortgage, if that alternative was best for them.

Like all financial decisions, listen, hear, and understand your alternatives, and let the Lord guide your decision.

(C) 2011, Michel A. Bell.

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Indonesia Based Boy Named Ghozali Becomes Millionaire By Selling Selfies On OpenSea As NFTs



Indonesia Based Boy Named Ghozali Becomes Millionaire By Selling Selfies On OpenSea As NFTs

Non-fungible tokens, NFTs, continue to make waves within the crypto ecosystem as an excellent means for profitability. As a result, many new and recent collections are rising as headlines through their massive accumulation of funds.

One of the trendy NFTs is Ghozali’s from an Indonesian youth who has sold over 1,000 selfies as NFTs on OpenSea. The selfies have been his daily collection for the past five years.

The Indonesian boy, Sultan Gustaf Al Ghozali, is 22 years old and held from Semarang. Ghozali, currently studying computer science, decided to take daily selfies some years back. Through this everyday action that he kept from 2017 to 2021, the boy now has more than 1,000 photos.

Related Reading | Cardano Enters The Basho Stage: How It Improves Performance

Reporting through his official Twitter account, Ghozali disclosed that his aim for taking his selfies for five years is to create a unique video. He said that the video would be done after his college graduation.

With the emergence and popularity of NFTs, Ghozali made a twist in his plan and decided to mint his photos into NFTs. This led to his subsequent sales of the NFTs on OpenSea.

According to a tweet on January 10, 2022, Ghozali has commenced uploading his selfies on the OpenSea platform with a project name, ‘Ghozali every day.’ This post revealed that the cost of each picture is 0.001 ETH.

Despite its lack of significant artistic value, the project maintains a floor price of 0.42 ETH. Furthermore, Ghozali every day currently has over 355 ETH of traded volume. About 498 addresses now own an NFT from the project’s collection.

ETH follows bearish trend | Source: ETHUSD TradingView

IreneDAO NFTs Follow The Same Success Trend

In a similar wave, Irene Zhao’s NFT initiative is taking more ground among the top topics within the last week. Irene Zhao, a prominent personality within the crypto space, is an advisor at Konomi Network.

Her recent NFT initiative project, tagged IreneDAO, aims to become a global grassroots movement that will disrupt the creator economy. Currently, the project collection comprises Zhao’s photos with transcriptions on them inspired by memes.

Related Reading | Cardano Hits Bottom? What You Should Consider Before Rushing Into ADA

Reports from OpenSea revealed that the floor price of the IreneDAO collection has been below 0.2 ETH for a few past days. However, it is presently sitting at 3.59 ETH. Moreover, its traded volume has moved over 1,800 ETH from its time of initiation.

Featured Image from Shutterstock and Charts by TradingView

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The Most Versatile Dao Projects That Go Beyond Finance and Governance



The Most Versatile Dao Projects That Go Beyond Finance and Governance

Over the past two years, there’s been a lot of talk and hype about the future of finance, especially across the crypto field, with the surge in value of decentralized finance (DeFi) platforms. The thriving peer-to-peer crypto network is becoming a standard part of a diverse crypto portfolio, grabbing the attention of consumers, invebstors, mainstream media, and billionaires alike. Looking at the numbers, the total value locked (TVL) on DeFi-based platforms has skyrocketed from nearly $8 billion at the start of 2019, to over $95 billion, as of writing. 

This growth has been supported partly by the growth of DAOs, or decentralized autonomous organizations, which gives users a seat at the table allowing them to govern and make proposals on the functioning, upgrades and improvements of the platforms. Nonetheless, the DAO ecosystem is growing at a faster pace, branching out with more use cases on DeFi than governance and finance. In this piece we look at some of the top DAO projects that aim to revolutionize the industry in 2022. 

1. CanDAO

Our top pick DAO project is Candao, a decentralized social network that enables seemingly seamless communication between blockchains, and provides an overlaying set of tools and solutions that connect crypto communities from disparate environments. The platform also provides a portfolio of social-oriented, blockchain based utility features, and value based on three fundamental values recognised by the community: People, Consensus and Gamification. 

Some of the top features available on CanDAO’s platform include Matchify, CanDAO Pad, CanDAO Shop, CanDAO ID, Meta Scan, CanDAO Group, CanDAO Chain, and CanDAO Messenger. These features unlocks people’s value by letting them tokenize the value they create, liquefy assets, and connect existing assets in order to build a joint venture and sustainable communities. 

2. Bit DAO

1643068226 332 The Most Versatile Dao Projects That Go Beyond Finance and

Second on our list is Bit DAO, a decentralized treasury that holds more than $2.5 billion in assets through several mega-raises. The community has attracted some of the biggest players in the crypto and finance industry including Peter Thiel, Alan Howard, and Founders Fund. Bybit, a Singapore-based derivatives cryptocurrency exchange, has also committed 0.025% of its total trading volume (or about $1 billion) per year to the DAO as well.

The BitDAO community aims to create financial value through its DAO Treasury by allowing staking, lending and incentives models on the platform. Additionally, the platform is building an ecosystem of autonomous entities (AEs) that are funded in part by the BitDAO treasury and bring together some of the best partners to help develop Web3 across art, entertainment, finance, and technology and more.

3. Decentraland DAO

1643068227 457 The Most Versatile Dao Projects That Go Beyond Finance and

Amidst the rising case for the metaverse, our final entry is Decentraland DAO, a decentralized governing body that is in charge of Decentraland’s parcels of virtual land. The DAO widens the scope of decentralized governance, bringing autonomous governing protocols into the metaverse. The DAO gives the virtual land owners voting power that is dependant on how much virtual property they own. 

This represents the first-of-its-kind DAO that allows people to have a say on governance in the metaverse. This opens up a world of possibilities such as staking, lending, and borrowing funds using your virtual land as collateral. 

Final words

Since the launch of DAOs in 2016, with the Ethereum DAO, decentralized governance protocols have witnessed a sudden growth and rapid innovations. Today, DAOs offer much more than governance. DAO-based protocols are changing the finance industry creatively and innovatively to create value for the community. With platforms such as CanDAO offering an array of features to token holders, the community has more utility on the platform, other than a vote.

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Has Bitcoin Reached Its Bottom? Analyst Says It Still Has A Long Way To Go



Long road for bitcoin

Bitcoin has had a rollercoaster of a month in January. The digital asset which enjoyed much success in 2021 has walked into 2022 with bloody feet. Since then, it has managed to crumble more than 50% of its $69K all-time high. As nerves run high, investors scramble to make sense of when the onslaught will cease. As bitcoin is yet to see any significant support below the $40,000 level, analyst says the worst may be yet to come.

Bitcoin Has Lost Critical Support Level

Pseudonymous analyst Dave the Wave is known in the crypto space for being one of the few to call the May crash. Last year when prices of digital assets like bitcoin went into a frenzy, Dave had been one of those to sound the alarm for the incoming price crash. Not long after, the market had indeed seen a price crash that led to about a 50% downward correction.

Related Reading | Bitcoin Breaks $37,000, Why Downtrend To $29,000 Is Likely

This time around, the analyst has issued another warning. Using multiple charts, Dave the Wave lays out their analysis of the bitcoin market. The prognosis? Further downward correction towards $25,000 may be possible.

BTC begins recovery trend | Source: BTCUSD on

The analysis spreads over multiple tweets where Dave the Wave educates their 90K Twitter followers on what they expect from the market. Firstly, they analyzed using the Fibonacci extension. After measuring its potential head and shoulders, landing on a downside of $25,000.

They note that bitcoin had already broken through a critical support level. Under which there is not much support, meaning that the price of the digital asset was prone to continue falling. “The problem is once it loses that 40K area, there’s not much support below,” the analyst said.

Chart showing bitcoin losing support level

BTC loses support at $40K | Source: Twitter

What’s In Store?

Naturally, the next steps were to figure out possible bounce points for the digital asset. They do this by mapping out where there would be a trend reversal. “A lower level again and lines of resistance that price would have to cross before even thinking of a trend reversal.” Since this call, the price of bitcoin has since fallen below this point, now touching as low as $33,000.

Chart for trend reversal

BTC misses trend reversal | Source: Twitter

Related Reading | Market May Be Suffering But Bitcoin And Ethereum Will Pull Back Stronger, Bloomberg Analyst

Presently, the last chart in the series shows a possible upward reversal if the digital asset was able to hold above $35K.

BTC fails to hold above $35K

BTC fails to hold above $35K | Source: Twitter

Since the tweet went live, bitcoin has not done well in the market and has in fact dropped below this point. If Dave the Wave’s analysis is anything to go by, then investors may need to brace themselves for impact as the next stop may very be the $25,000 range, which is the next major support point.

Featured image from LinkedIn, charts from Twitter and

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