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5 Tips to Consider When Refinancing Your Mortgage

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Here are 5 tips to consider when refinancing your mortgage.

Is it the right move?

When conditions are right, financially and economically, you might be considering a refinance of your mortgage. Before you jump into what seems like a good idea, it’s best to know exactly what the refinancing process is, and just what it entails. You should know that when you are going to refinance, it involves starting the loan application process right from the start, as if you are buying a new home. Will you be taking the loan with a new lender, setting up a new deal, or should you shop around and see what’s on offer from other loan providers? The best person to lead you through what is now a veritable minefield of lenders, is your mortgage broker. They are far more up to date with what’s on offer than if you spent hours scouring the internet looking for the best deals.

Why Refinance?

What are your reasons for refinancing? There could be a variety of reasons. Lower interest rates on offer? A difference of a point or two in the rate may seem small when you look at it, but that couple of points can save you thousands over the years because your repayments will go on for 15 to 30 years for a typical mortgage.

Another reason some may decide to refinance is to get a shorter term, which also saves thousands of dollars. For example, things have never looked rosier personally, and both you and your partner are working, and your income is higher. So, a change in your financial situation can be used to save money on higher monthly payments. Conversely, you might be after a lower monthly payment or have that fixed rate changed to a variable rate, or vice versa.

Refinancing Costs

There are some obvious things to look at when considering refinancing. One of the first things is the actual cost of refinancing. Look at the fees you will be paying and divide it by the months of your mortgage and see whether there is a saving as a result of the refinancing. Sometimes you are ahead straight away, other times you might have to work out when you will hit the break-even point.

Penalties

Are there any penalties in your mortgage terms and conditions that apply if you pay out the mortgage early? Lenders do NOT like mortgages paid out early. Remember, when you refinance, you are paying off one loan and applying for another completely new loan. Add any penalties to your total costs for refinancing and calculate that break-even point again. Be certain that you are not losing money overall when you refinance.

Your Equity

An important factor in this whole process is to work out the equity you have in your home. A negative equity is when you owe more on the home than what the house is worth. If you have been in your home for a number of years, the annual increase in your home’s value will stand you in good stead. But if this is a refinance taken out after only a short time into your mortgage, price fluctuations may have worked against you. If your lender is offering less than the equity, you will not be able to get the refinance, unless, of course, you have the money to pay the difference. Current markets indicate an overall rise in prices, but there have been some downward movements as well over the year and that may have had a negative effect on your home’s value.

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USDA Loan Indiana

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There are a lot of things to understand when trying to get financing for a home and qualifying for a USDA loan. I am going to explain the most important factors when considering the home you are buying, the finance company you want to use, as well as what the criteria are in order to get pre-approved.

The first and most important thing to know is that there are strict income qualification factors. By going to the USDA eligibility site you can actually calculate what your family size is and how much money you make in order to see if you can even qualify for a USDA loan. Typically a family of four or less in Indiana with an income of less than 75,000 will qualify. A family of five or more can make up to 100k and still qualify for a USDA loan. There are other considerations like disabled children or dependants as well that you want to look into. Speaking with a professional loan officer will help you understand the process a little bit better.

The second thing is making sure that the home you desire is in a USDA qualifying area. You can Google USDA eligibility and type in the address of the property to see if the address qualifies. If that doesn’t work you can ask me or your local lender if the property you like will qualify. Once you are approved via USDA your realtor should know what areas qualify and what don’t so make sure when choosing a realtor they know that you are financing the new home purchase with a USDA loan. Also speaking to a professional loan officer will help you understand more clearly what areas qualify and which ones don’t. Typically cities with less than 25,000 people are going to qualify. Rural areas also usually qualify as well.

The third step is to get with a loan officer to get approved. Usually you will need at least a 620 credit score to get a USDA loan. Some lenders go down to 600 but it is more difficult to get approved with lower scores and most professional loan officers will not do it, because there is a chance you would not close. USDA also has strict income qualification factors beyond gross income. Their debt to income ratio is more strict than any other program. Your maximum debt to income can usually be no more than 41%. So all of your debts combined plus your new house payment cannot be more than 41% of your total GROSS income. Your loan officer can help you understand based upon your budget what homes you should be looking at based upon value and total payment with taxes and insurance.

Lastly and tying into the approval process don’t be afraid to shop a few lenders. Don’t talk to 20 loan officers or you will get confused and overwhelmed. Keep shopping to 2-4 loan officers and do business with not only who you feel comfortable with, but who has the experience necessary to get the loan completed, who has a good reputation in the local community (look at reviews and things online), and who offers the best loan for your situation.

Also remember that USDA is strict on what home can qualify for the loan. So make sure you ask your realtor if the home you love will qualify for USDA!

I hope I have helped you understand the USDA process a little more clearly if there is anything I can do to help please feel free to reach out.

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How to Work Out an Automobile Debt Settlement

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All of us are tired of the problems pertaining to transportation, and who does not like to possess a car of his own? In addition, sometimes we need to buy automobiles like trucks and vans when we have our own business and they are required for the easy transportation of goods and services. In addition, when we do not have enough funds of our own, we opt for automobile loans. In addition, all our mirth of getting a new car or truck soon changes to despair when due to unforeseen circumstances we find that we are unable to pay back the loans and most likely, our beloved car would be foreclosed. Knowing a few things about automobile debt settlement could come in handy in such cases.

Reasons for High Interests in Car Loans: This might be a little more difficult than other types of debt settlement programs. Moreover, the rates of interest for automobile loans charged by the creditors are significantly higher than other types of loans. This is because of the highly volatile nature of the asset itself. Even if you have had put the car up as a collateral while applying for the loan, the creditor might find that it is simply not there when they decide to go for foreclosure.

Because the car might have been damaged beyond repair in an accident, and the insurance might refuse to pay up citing a variety of excuses or an unfaithful debtor might simply have driven it out of town without informing them. Alternatively, maybe, the car may simply lose all its value due to poor maintenance. So, before taking out an automobile loan, be sure about your methods to pay them back.

How Can you Negotiate: Because the creditors usually look forward to the collateral for the repayment, chances are that they would settle for a loan reduction if they find the condition of the car less than satisfactory. In addition, if they find that the reduced amount that they would get from the debtor would be more than the value of the automobile, if foreclosed.

This usually happens in the case of accidents when rising medical bills and car loans have to be settled together. Also, if you can provide proper documents and slips regarding your financial distress, considerate creditors would often agree to a negotiation. Providing the address of your garage, for their security can also help you to gain their trust. You can also show them your record of successfully paying off your previous debts, which again helps in most cases.

With a little bit of saving and careful negotiation it is indeed possible to save your car from foreclosure. You should know your options and the laws to make it as better as you can

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Can A Credit Union Help Build Or Rebuild Your Credit?

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The most important way of upgrading or reconstructing your credit is establishing a new credit history. And, an excellent place to go for assistance is a Credit Union because they live by the philosophy of “People Helping People”. They are dedicated to their local communities and focus on improving the quality of life for their members.

They offer financial tools designed to reconstruct blemished credit scores. Credit Unions understand that having “less than perfect” credit makes it difficult to obtain a loan; so they want to help guide their members with get back on track” loan programs. Here are some ways that some credit unions nurture your finances back to health:

Loyalty Loan Programs: These loans will help with immediate needs and also help rebuild your credit. These loans reward the members with on-time payments with a lower interest rate and loan payment over the life of the loan.

• Ability to borrow with an unhealthy credit score

• Flexible qualifying guidelines

• Incentives to lower your loan interest rate and monthly payment

• Improves your overall credit rating and credit score

Credit Builder Loans: These loans are usually made by Credit Unions to help members build or rebuild their scores. This type of loan is approved for a small amount, normally not much more than $1,000. Instead of the member getting the loan amount like they would with a conventional loan, the money is placed into an interest-bearing account. The member makes payments monthly, and after a year or two, the loan is paid off and the money, plus interest is given to the member.

• No qualifications necessary, except a reliable source of income.

• Usually a 12-month term

• Member’s repayment behaviors are reported to the credit bureau

Free Credit Counseling: Many Credit Unions offer free financial counseling. Members that take advantage of this program eventually see increases in their scores which helps create a more financially healthy member.

Repair your credit with a secured credit card: A secured credit card can be a creditworthy tool for people with less than perfect histories. Most of the time, a savings account is used as collateral for the secured card. Secured credit cards are the first step for members who can’t qualify for a regular unsecured credit card. Just be aware that most credit unions don’t promote their unsecured card options, so make sure you ask.

The quickest way to build up a satisfactory score is to borrow and pay back the loan on time. It isn’t difficult, it just takes some discipline. Locate a Credit Union near you and check out what options they have to offer. Rebuilding or establishing new credit is easier with a Credit Union so start constructing a healthier credit history today!

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A New Cryptocurrency Has Everyone Buzzing in Mongolia – 10 Million USD Within 30 Seconds

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IHC

“Decentralized finance is the future. Cryptocurrency helps people live in a community without the traditional middleman expenses. It provides equal opportunities for everyone.” – Ider-Od, co-founder of IHC.

Mongolia is a landlocked developing country, sandwiched between two giant neighbors – China and Russia, located in the center of the Asian continent, far away from seas, oceans, and most importantly, from international trading networks. It is also the 17th largest country by its territory, with a land richly endowed with natural resources. Nevertheless, its unfavorable geographical position has prevented the country from becoming an export-oriented economy and achieving sustainable economic growth. Moreover, Mongolia’s economy, which is the 132nd largest based on its gross domestic product, has experienced the worst setback since its economic transition in the early 1990s due to the strict COVID-19 restrictions imposed by the government over the past two years.

Five entrepreneurs, Ider-Od Bat-Erdene, Erkhembayar Byarsaikhan, Gantig Bayarmagnai, Munkhjin Otgonbaatar, and Munkh-Erdene Burenjargal, are seeking innovative solutions for achieving economic growth and alleviating poverty by making cryptocurrency the main driving force for generating and bringing wealth into the country.

“Cryptocurrency is borderless. It is the key solution for countries like Mongolia for tackling economic issues. We want to empower the powerless by keeping big money, government, and federal banks in check to provide equal opportunities for everyone.” – Gantig, co-founder of IHC.

With over 100 billion token orders fulfilled after its launch at 11 a.m. on August 25, the Inflation Hedging Coin (IHC), a new cryptocurrency created by tech-savvy entrepreneurs, broke the internet. Within just 30 seconds, thousands of enthusiasts invested 10 million USD in the newly created tokens, making it one of the fastest-selling cryptocurrencies in the world.

IHC released 100 billion tokens with 25 billion equally placed on four different cryptocurrency exchanges: coinhub.mn, trade.mn, complex.mn, and dax.mn. IHC has a total supply of one trillion coins, of which 100 billion are now publicly owned. It took only 11 seconds on DAX, 43 seconds on Coinhub, 1 hour on Complex, and Trade for people to buy up all the available tokens, with two of the platforms crashing and overwhelmed by over 100 thousand visitors.

Based on blockchain technology, Inflation Hedging Coin aims to introduce an ecosystem of financial services, including seamless transactions. IHC founders share a vision for creating a decentralized solution to combating inflation.

 

Image by jorono from Pixabay

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Win Rare NFT Tokens in the Massive FTX Cup #1 Tournament

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Win Rare NFT Tokens in the Massive FTX Cup #1 Tournament

Throughout August, TradeLink together with FTX has worked hard to please traders with a large-scale tournament. The main difference from other events is the maximum prize fund of more than $50,000 and NFT prizes, which will be given to the winners. 

The tournament starts on September 25, the duration is one month. You can register by following this link.

The NFT market is quite young, but it has already gathered a lot of hype. The nice thing about NFT is its uniqueness. You can record anything you want in it, from text to video. So recently artist Mike Winkelmann sold his painting for a record amount of $69 million. The FTX exchange has released its own NFTs, as well as a marketplace where users conduct auctions. 

Winners of the FTX cup#1 tournament will receive unique tokens that provide privileges and opportunities when using the platform. 

Just look at the beauty of the girls in the unique artwork of professional artists: NFT collection

These tokens provide unique bonuses and privileges. For example, on the TradeLink platform, a token can be used as an achievement in your personal profile, and in the future, it will allow you to use TradeLink services absolutely free. In addition, each token will have unique characteristics, which will be used as an element of gamification of the platform and will open a lot of interesting opportunities to the owners. Just like any other NFT, it can be sold or bought on secondary markets. 

More about the platform:

TradeLink is a startup, a young project among analytics services. By adding API-key read-only – users get detailed trading statistics (in the near future there will be a trading log with information about every deal). Most of all users like the rating system on the platform in which anyone can participate. This allows you to compare your trading activity with other traders.

For professional traders, the platform has over 25 different indicators for account analytics, as well as a widget that can be added to your website to show trader statistics. To give traders additional incentives, tournaments are regularly held where you can compete for prizes and additional achievements.  

1632478140 381 Win Rare NFT Tokens in the Massive FTX Cup 1

At the moment, the platform works with the 4 top exchanges:

Disclaimer: This is a paid Press Release. Any information contained in this website is not proposed to be and doesn’t constitute financial advice, investment advice, trading advice, or any other advice. The NewsCrypto is not responsible to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release.

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Bitget KCGI Trading Competition Opens for Registration on 20, October with a Prize Pool of 100 BTC

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Derivatives exchange Bitget announced the launch of King’s Cup Global Invitational (KCGI). According to the announcement, the contest has set up a prize pool of 100 BTC and 500 million BGB as well as other custom-made prizes. The registration will open from 20 October to 4 November (UTC+8), and the competition will start from 10:00 am on 30 October to 10:00 am on 20 November (UTC+8).

It is reported to be an annual event for global elite traders held under the principle of unity, fairness and competitive spirit. “This contest aims to provide a level playing field for trade lovers. The competition rules are very user-friendly. All traders are welcome to participate in this game,” says Sandra, Bitget’s CEO.

Total Prize Pool: 100 BTC

The competition includes Team Battle and Individual Competition, each with a prize pool of 50 BTC, adding up to a total of 100 BTC.

The prize of Team Battle or Territory Battle will depend on the number of teams.1-100 teams will unlock 10 BTC. 101-300 teams will unlock 20 BTC, 301-500 teams will unlock 30 BTC. 500+ teams will unlock 50 BTC. A captain can form a team to join the battle if there are more than 30 team members. During the registration period, eligible users can pick their favorite captain to win rewards through futures trading.

The total prize pool will be divided among the ten teams with the highest profits. Within each team, the captain can receive 10% of the team’s total prize. The remaining prize will be distributed among other players according to the proportion of their profits. The 1st place will receive 30%, 2nd place will receive 20%, the 3rd place will receive 10%, and the 4th-10th places will share the remaining 30% according to the proportion of their profits. Among them, the top 7 team captains in terms of revenue can also get customized NFT. For teams ranked Top3 by trading profits, the top3 profit contributors in the team can each receive a PS5 game console.

Individual Competition is divided into Super Leaders (ranking by PNL%) and Super Heroes( ranking by profits) sessions. The total prize pool is 50 BTC each, which will be released according to the number of participants. 10,000 participants will unlock 5 BTC, 10,000-20,000 participants will unlock 10 BTC, 20,000-30,000 participants will unlock 20 BTC, 30,000+ participants will unlock 50 BTC.

The total prize pool will be shared by the top 10 teams/participants with the highest PNL% and profits respectively. In each session, the top 1 can share 40%, the second place will share 20%, the third place will share 10%, and the 4th-10th places will share the remaining 30% according to their proportion of trading volume or profits. Top3 traders can also receive DJI drones or HHKB keyboards, etc. It is worth noting that users participating in the Team Battle are also qualified to join the Individual Competition and share the prize.

Special Benefits: 5 million BGB

To attract more regular and new users, there are also additional events such as City Assembly, Lords Assembly, Airdrop for All, Lucky Lottery, Post-Competition Bonus and Early Bird Benefits, offering a total of 5 million BGB. All participants have the chance to win cool electronic devices and NFTs featuring the competition.

City Assembly: For the division with the most winning seats in Territory Battle, all the participants within the division will receive an airdrop of 50BGB on a first-come, first-served basis. The total supply of the airdrop is 500,000 BGB. Lords Assembly: Lords (Captains) of the team will unlock the BGB rewards pool if they can obtain active users. The Top1 team’s rewards pool will be doubled. Within each division, the Top10 captains in terms of obtaining new users will get an exclusive benefits package from Bitget to be “signed” as the co-ambassador for the next trading contest.

Participants whose total trading volume reaches 50,000 USDT during the competition will receive an airdrop of 99 BGB by following our official Twitter and joining our Telegram. The total supply of the airdrop is 1 million BGB. Users can earn points by completing tasks. For every 3 points accumulated, participants will be qualified for the “Lucky Lottery” to draw from meebits NFT, HTC-VIVE VR glasses, DJI drones, PS5 game consoles and HHKB keyboards.

At the end of the competition, participants who have a net deposit of 2000 USDT and a cumulative trading volume of no less than 500,000 USDT during the contest will receive 1 chance to draw an exclusive NFT custom-made for Bitget’s first trading competition. In addition, Bitget has prepared Early Bird Benefits. Captains who sign up and complete their team formation 5 days before the competition will receive 50 USDT trial funds for futures prior to the contest, While Individuals who sign up 5 days before the competition will receive 20 USDT.

Theme for KCGI-2021: Fight Pixel Intrusion

The theme for KCGI 2021 is “Defend the Earth against Pixel Invasion”. It tells a story of how the quantum civilization six light-years away plans to attack the Earth with its advanced weapon that can rapidly transform entities into pixels. Seven young people from different countries form the strongest battle team, each mastering one of the seven different elemental skills: silicon, gold, earth, wind, water, fire, and thunder to defend the Earth.

Bitget used this as a backdrop to create a set of NFT artworks representing the different forms of energies and objects in the story. The collections will be given as prizes to the Captains and lucky users who performed well in the Team Battle.

 About Bitget

Bitget is among the fastest-growing derivatives exchanges, with 1.6 million registered users worldwide and an average daily trading volume of $5.6 billion. With the mission of Better Trading, Better Life, Bitget is committed to offering liberal, ultimate and fair trading services, including futures trading, spot trading and digital asset purchasing.

As a platform in pursuit of perfection and innovation, Bitget has pioneered to launch three flagship products of USDT-Margined Futures, One-Click Copy Trade, and Quanto Swap Futures to provide the best services to users. It is now the six-largest derivatives exchange and the largest crypto asset copy trading platform in the world.

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BTC Proxy Lists on AscendEX

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BTC Proxy Lists on AscendEX

AscendEX is eager to announce the listing of the BTC Proxy token (PRXY) under the trading pair USDT/PRXY on Sept. 24 at 1 p.m. UTC. To celebrate the listing, AscendEX and the PRXY team will launch a number of limited-time promotional events, taking place between 1:00 a.m. UTC, on Sept. 24, and 12:00 a.m. UTC, on Oct. 1, 2021, offering users a chance to share pooled rewards up to 60,000 USDT!

BTC Proxy is a multi-institutional protocol for the decentralized tokenization of Bitcoin on ERC20, utilizing a Proxy Protocol called the “Proxy Relay”. The protocol gives Bitcoin holders a decentralized bridge to stake their Bitcoins into custody and transfer that value into an ERC20 token without the need for centralized exchanges and systems that exponentially increase the counterparty risk of theft or loss. Independent of liquidity conditions, BTC Proxy allows for the transfer of value without price slippage, directly affecting prices on exchanges. 

Improving on the design of wrapped token protocols, BTC Proxy utilizes a side-chain to “RELAY” the confirmations of Bitcoin transactions to the ETH smart contract. The Relay side-chain is significant because it allows for further transparency and the pairing of ETH and BTC transactions on the block for confirmation. This design reduces the cost of verifying BTC blocks on an ETH smart contract while speeding up minting and redemption functions to real-time settlement. No intermediaries are required to execute the transaction. 

While most of the development of DApps and Decentralized Finance (DeFi) is being built within the Ethereum ecosystem, Bitcoin continues to dominate the cryptocurrency market capitalization. The DeFi sector is burgeoning with fintech innovation with decentralized exchanges (DEXs), digital swaps, derivatives, and micro banking applications, all using smart contracts. BTC Proxy brings BTC liquidity into the Ethereum ecosystem and DeFi applications.

Most ERC20 tokens trading in centralized exchanges today are done with a BTC pair rather than with ETH. In contrast, most decentralized exchanges offer only ETH/Token but not BTC/Token trades. BTC Proxy tokens bridge this technological gap and provide more BTC-based liquidity on decentralized exchanges and pools. 

AscendEX’s listing of BTC Proxy highlights its commitment to supporting the growth of the DeFi ecosystem and DEX-related projects.

About AscendEX 

AscendEX is a global cryptocurrency financial platform with a comprehensive product suite including spot, margin, and futures trading, wallet services, and staking support for over 150 blockchain projects such as bitcoin, ether, and ripple. Launched in 2018, AscendEX services over 1 million retail and institutional clients globally with a highly liquid trading platform and secure custody solutions. 

AscendEX has emerged as a leading platform by ROI on its “initial exchange offerings” by supporting some of the industry’s most innovative projects from the DeFi ecosystem such as Thorchain, xDai Stake, and Serum.  AscendEX users receive exclusive access to token airdrops and the ability to purchase tokens at the earliest possible stage. To learn more about how AscendEX is leveraging best practices from both Wall Street and the cryptocurrency ecosystem to bring the best altcoins to its users, please visit www.AscendEX.com.

For more information and updates, please visit:

About BTC Proxy

BTC Proxy is a multi-institutional protocol for the decentralized tokenization of Bitcoin on ERC20 utilizing our Proxy Protocol called the Proxy Relay. The protocol gives Bitcoin holders a decentralized bridge to stake their Bitcoin into custody and transfer that value into an ERC20 token without the need for centralized exchanges and systems that exponentially increase the counterparty risk of theft or loss. 

For more information and updates, please visit:

Disclaimer: The opinion expressed in this article solely author’s. It is not interpreted as investment advice. The NewsCrypto team encourages all to do their own research before investing.

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Mining Company Offers First-Ever “Mine-to-Token” Cryptocurrency to Investors Looking for Exposure to Gold

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AABB Gold

Cryptocurrencies are highly volatile assets. Even Bitcoin, the most valuable cryptocurrency in the world by market capitalization, is still subject to 20% to 30% swings in price on any given day.

This despite the fact it is the pioneering crypto project responsible for birthing the entire blockchain technology industry beginning with the publishing of the original Bitcoin whitepaper by Satoshi Nakamoto way back in 2008.

Today, cryptocurrencies offer investors and users all kinds of benefits and built-in utility, including self-executing smart contracts, decentralized finance projects that pay out a higher annual yield than a centralized bank would ever give to a customer, non-fungible tokens that provide owners with social status and the potential for huge profits, and more.

Although each of the above benefits of cryptocurrencies stretches well beyond a basic decentralized peer-to-peer payment system like Bitcoin, they don’t necessarily fit the goals of every investor. There is an in-between investor that still wants their cryptocurrencies backed by real-world assets such as precious metals.

That’s where Asia Broadband (OTC: AABB) comes in.

Why Clients Are Choosing Asia Broadband

Asia Broadband supplies both precious and base metals mined in Mexico to clients across Asia. The company is in its 25th year of doing business. It is publicly listed in the United States and allows clients to benefit from the vertical integration of its value chain.

The company’s move into cryptocurrency marks an adventure into uncharted waters. But for clients, it marks an opportunity to benefit from the flexibility, security, and transparency offered by cryptocurrencies while giving them exposure to perhaps the most tried, tested, and true hedging instrument in all of human history; Gold.

Given gold’s history and the fact that blockchain technology is now in its 13th year of existence, tokenizing precious metals is not a new concept. There are several other competitors serving customers in the gold-backed crypto market. So why are investors choosing Asia Broadband over other options?

It’s because unlike other players in the market, Asia Broadband is not a crypto-first company.

It’s a publicly traded mining company available to investors via the over-the-counter market under the stock symbol AABB with over $100 million in assets. That means it’s one of if not the only company in the gold-backed token sector of the crypto market that gives investors access to gold in a “mine-to-token” fashion. All of this is accessible through the AABB Gold Token, which lives on the Ethereum blockchain and is ERC-20 compliant.

Why The AABB Gold Token is Both the Present and the Future of Gold-Backed Cryptocurrencies

The minimum price of the AABB Gold Token is always linked to the spot price of gold at any given moment. Investors worried about the potential of currency debasement coming to fruition because of exorbitant money printing by governments around the world in response to the coronavirus pandemic now have a way to separate themselves from that possibility.

Not only is Asia Broadband actively mining precious metals just the way it has been for the last 25 years, but it also maintains a minimum of $30 million USD worth of physical gold in its reserves at any given time.

The company is pledging to use third-party sources for gold only when it is necessary, with its own physical reserves and mining operations offering investors precious metals exposure while they hold the token and benefit from any increase in market demand.

The fact that the token is 100% backed by gold and investors will benefit from the vertical integration of Asia Broadband offers a very clear value proposition no other market participant can. The overwhelmingly positive reception of the token is a reflection of that.

Over $1 million worth of tokens were sold in the first two weeks of the token’s launch and more than 9,000 active users are currently holding over 245,000 tokens.

Asia Broadband is committing wholeheartedly to giving investors an entirely new way to balance their interest in both cryptocurrency and gold. The time to benefit from a one-of-a-kind “mine-to-token” project like AABB Gold is now.

 

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TA: Ethereum Lacking Bullish Momentum, Why ETH Holders Are Safe

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Ethereum

Ethereum started a steady increase above $3,050 against the US Dollar. ETH price could correct lower, but the bulls might remain active near $3,000 and $2,950.

  • Ethereum extended its increase above the $3,100 and $3,150 levels.
  • The price is now trading near $3,100 and near the 100 hourly simple moving average.
  • There was a break below a key bullish trend line with support near $3,150 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could correct lower towards $3,000 or even $2,950 in the near term.

Ethereum Price Is Losing Pace

Ethereum started a steady increase and settled above the $3,000 level. ETH even broke the $3,100 level and settled above the 100 hourly simple moving average.

It traded as high as $3,173 and recently corrected lower. There was a break below the $3,150 level. Besides, there was a break below a key bullish trend line with support near $3,150 on the hourly chart of ETH/USD.

Ether is now trading near $3,100 and near the 100 hourly simple moving average. It is still trading well above the 23.6% Fib retracement level of the upward move from the $2,651 swing low to $3,173 high. An immediate resistance on the upside is near the $3,150 level.

Source: ETHUSD on TradingView.com

The first major resistance is near the $3,180 level. The main breakout zone could be near the $3,200 zone. A close above the $3,200 resistance could start another steady increase. The next major resistance might be near the $3,320 level. Any more gains may possibly open the doors for a move towards the $3,500 level in the near term.

Dips Limited in ETH?

If ethereum fails to continue higher above the $3,150 and $3,200 resistance levels, it could start a downside correction. An initial support on the downside is near the $3,050 level.

The next major support seems to be forming near the $2,950 level. Any more losses might call for a test of the 50% Fib retracement level of the upward move from the $2,651 swing low to $3,173 high at $2,912. A downside break below the $2,900 support zone could put a lot of pressure on the bulls.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is slowly losing pace in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now close to the 50 level.

Major Support Level – $3,050

Major Resistance Level – $3,200

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Will Crypto Market Aim For the Moon, After The Current Fall?

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Will Crypto Market Aim For the Moon, After The Current Fall?
  • Many cryptocurrencies hit record highs in April.
  • Few analysts believe this crash will eventually be overlooked.

With a new all-time high for Bitcoin, legislative discussions that may affect the sector, and more institutional buy-in from large businesses, the cryptocurrency market has gone through so much this year. Despite this, interest in Crypto has soared this year.

But the sector is young and growing. Long-term trends are difficult to forecast, but experts will focus on topics like regulation. Also, institutional crypto payment usage in the next months to better understand the industry.

This month’s crypto market collapse saw several major digital currencies decrease in value. Bitcoin, Ethereum, and other popular cryptocurrencies lost value in the recent market collapse.

Many cryptocurrencies hit record highs in April, with Bitcoin hitting over $50,000 before major falls during the summer.

According to Coinbase, Bitcoin’s value has increased 335.91 percent in the past year, despite the crypto collapses of May 19 and June 8. The total price is now far below the mid-April highs, but well over the same time last year.

In 2021, mainstream businesses across sectors showed interest in cryptocurrencies and blockchain. And some even invested. According to AMC, Bitcoin payments will be accepted before the end of this year. PayPal and Square, for example, are betting on Crypto by enabling consumers to purchase on their platforms.

The market wants to climb to the moon, according to Twitter Crypto Analyst and co-Founder of @PACcoinOfficial David Gokhshtein.

David’s Tweet:

Future of Crypto

Many analysts believe this crash will eventually be overlooked, and new highs will be made following the wide-adoption rate of Crypto in all sectors. 

NFT sales soared in August, according to the biggest platform for the burgeoning digital asset class, as investor’s wagered increasing interest in the arts, sports, and media. Many people, puzzled as to why so much money, spended on things that do not exist physically.

The demand and craze for the Crypto and increasing upgrades to DeFi. Along with nations starting to approve Crypto as a legal tender, shows the future of Crypto has a long way to go, and one can predict moon is not too far for the crypto market.

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