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5 Steps New Parents Can Consider to Protect Their Credit Score

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Making arrangements for the arrival of a new baby is exciting, but you may have to face some significant financial changes. If you’ve recently taken home your new bundle of joy or waiting for one that’s on the way, you can’t afford to let your credit score fall.

Here are a few techniques that will help you ensure that your credit score doesn’t drop:

  1. Automate Bill Payments: Whether it is paying medical bills or making your credit card payment, almost all financial responsibilities take a backseat in the first few months after the arrival of your newborn. Overlooking the timely payment of bills or credit cards can directly impact your credit score. However, this issue can be easily managed by switching to automated bill payment long before the baby is due to arrive.
  2. Purchase Supplies When Required: Most parents want to pre-purchase items like diapers and clothing for their newborns, but they need to remember that babies tend to have a fast growth rate. Your baby may quickly outgrow their outfits just after wearing them once or twice. So, it is advisable for parents to shop with proper planning to avoid unnecessary purchases that put them in risk of grave financial trouble.
  3. Avoid Seeking More Credit: Stay away from seeking extra credit, like applying for a new credit card. This kind of spur of the moment decision can become a terrible idea, especially for parents with no means to increase their income. Applying for extra credit creates additional financial liability for new parents, and this can quickly end up as a bad financial decision.
  4. Use Cash-Back Rewards: A rewards credit card is a very beneficial tool for any new parent who likes to earn cash back or points on their most purchased items. You can save a lot on a big purchase with cash-back or points system that many credit card companies offer. For instance, if you’ve accumulated a few hundred dollars in cash-back rewards, you can easily use that money to make other substantial purchases.
  5. Establish The Priorities: One of the best methods for new parents to prevent a financial crisis and the risk of hurting their credit score is to establish their priorities. You should know how to distinguish between what is an “absolute need” and what is a “would want” for your child. Also, you should order your priorities based on resources available to you, without risking your credit score.

By following these tips, you can avoid experiencing the baby blues when it comes to your credit score management.

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TA: Bitcoin Price Consolidates, Why Break above $43.5K Is The Key

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Bitcoin started a downside correction from $44,500 against the US Dollar. BTC is stable above $42,800 and the bulls might aim a fresh increase above $43,500.

  • Bitcoin is trading in a positive zone above $42,500 and $42,800.
  • The price is trading below $43,500 and the 100 hourly simple moving average.
  • There is a key contracting triangle forming with resistance near $43,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could start a major increase if there is a clear move above the $43,500 resistance.

Bitcoin Price Is Holding Support

Bitcoin price extended increase above the $44,000 resistance zone. BTC even spiked above the $44,200 level before it faced sellers.

A high was formed near $44,400 and the price started a fresh decline. There was a clear move below the $43,500 and $43,200 levels. The price even dived below the $42,500 support and a close below the 100 hourly simple moving average.

A low was formed near $41,800 before the price started an upside correction. It traded as high as $43,791 and is currently consolidating. Bitcoin price is trading below $43,500 and the 100 hourly simple moving average.

An immediate support is near the 50% Fib retracement level of the recent increase from the $41,800 swing low to $43,791 high. Besides, there is a key contracting triangle forming with resistance near $43,200 on the hourly chart of the BTC/USD pair.

Source: BTCUSD on TradingView.com

On the upside, an initial resistance is near the $43,200 level. The next major resistance is near the $43,500 level. A clear move above the $43,500 level might send the price towards the $44,000 resistance. Any more gains may perhaps call for a test of the $44,200 resistance zone. The next major resistance is near the $45,000 level.

Fresh Decline in BTC?

If bitcoin fails to start a fresh increase above $43,500, it could start a fresh decline. An immediate support on the downside is near the $42,800 zone.

The first major support is seen near the $42,500 zone. It is near the 61.8% Fib retracement level of the recent increase from the $41,800 swing low to $43,791 high. A downside break below the $42,500 support zone could lead the price towards the $41,800 level.

Technical indicators:

Hourly MACD – The MACD is slowly losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is near the 50 level.

Major Support Levels – $42,800, followed by $42,500.

Major Resistance Levels – $43,200, $43,500 and $44,200.

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Sports NFT Marketplace Lympo Suffers An $18.7 Million Hack

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The latest in the industry is the hacking of Lympo, a sports NFT platform and a subsidiary of Animoca Brands. Through hot wallet hacking, the platform just lost about 165.2 million LMT tokens, equivalent to $18.7 million during the time of this hack.

Cryptocurrency hacking, though not frequently experienced, remains of the risks that some protocols have to suffer.

An update through Medium from the Lympo team confirms the recent hacking from the platform on Jan 10. According to the report, the hackers accessed the protocol’s operational hot wallet and looted about 165.2 million LMT tokens.

Related article | Is Norton 360 Mining Ethereum In Your Computer? If It Is, They’ll Take a 15% Cut

Furthermore, the post revealed that the cybersecurity attack led to the compromise of 10 different project wallets. Also, the majority of the hacked tokens were moved to one single address from where they were swapped on both Sushiswap and Uniswap for Ether (ETH) and were later transferred somewhere else.

With this looting of the LMT from its hot wallets, the price of the token plummeted by 92% to $0.0093.

Lympo Team To Fix Grudges

Subsequently, the protocol’s team released a tweet stating that they are striving to stabilize the circumstance as well as to return their operations to normal. Additionally, the team mentioned its removal of liquidity LMT from liquidity pools. According to them, this will help in reducing the crypto price disruption.

Moreover, the team by the early hours of Jan 11, advised traders to place a hold on the buying and selling of LMT tokens. They intend to first complete their investigation and outline their possible line of action.

With the removal of liquidity from pool trading LMT, there will be a negative effect for traders. This means the traders can’t buy or sell remarkable token amounts without encountering some value loss.

Being a subsidiary of Animoca Brands, the Animoca teams has fully thrown their support to Lympo. In one of his speeches, Yat Siu, the CEO of Animoca said that they are helping Lympo with for recovery though they have not taken any specific mechanism for that.

Another Crypto Hacking On Hot Wallet

Similar to Lympo’s hot wallet security breach, a centralized crypto exchange, LCX, on Jan 8, lost about $7 million from its hot wallet. This hacking cuts across 8 different crypto coins on the exchange.

Most of the funds from the LCX hacking were swapped for ETH. The proceeds were later transferred to Tornado Cash which is a privacy tool with the feature of concealing both the source and destination of ETH tokens. The LCX hacking involved different amounts of LINK, MKR, USDC, ETH, LCX, SAND, QNT, and ENJ.

Related article | More Green Energy: Crypto Mining Saves A Hydro Power Plant In Costa Rica

Through its update on January 10, the LCX notified its users of its compensation plan for their losses. Also, it assures them that there was no compromise of any personal data from the attack.

Featured Image from Pexels

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Walmart All-set to Enter NFT and Metaverse Arena

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Walmart All-set to Enter NFT and Metaverse Arena
  • There have been a total of seven distinct applications for consideration.
  • Nike purchased RTFKT, a virtual sneaker firm, in December.

Following last year’s false allegations regarding Walmart and Litecoin, the US retail behemoth has formally filed documentation with local authorities to join the cryptocurrency and metaverse arena. According to reports, Walmart aims to develop its own cryptocurrency and non-fungible tokens (NFTs) in the metaverse.

Recently, the big-box store filed many new trademarks showing its intention to produce and sell virtual items, such as electrical devices, home décor and furnishings and a toy or recreational equipment and personal hygiene products. NFTs and a virtual currency will be offered to customers, according to the company’s application.

It has been reported that Walmart submitted the applications on December 30th, according to the United States Patent and Trademark Office. There have been a total of seven distinct applications for consideration.

Major Players Are Already Onboard

According to Gerben, trademark attorney, companies have been scrambling to find out how they would fit into the virtual world since Facebook announced it was changing its corporate name to Meta, suggesting its goals beyond social networking.

Sneaker and clothing company Nike has filed many trademark applications indicating that it intends to offer virtual versions of its products. Within a few days, it was announced that Nike would be collaborating with Roblox to build a whole new virtual environment dubbed Nikeland. It purchased RTFKT, a virtual sneaker firm, in December.

Gap has recently begun offering non-traditional T-shirts with the company’s trademark emblem. NFTs will be sold in levels ranging from $8.30 to $415 and come with a tangible hoodie, according to the fashion company. Adidas and Under Armour’s NFT releases sold out last month, as well. OpenSea’s NFT marketplace has seen a surge in demand for these items.

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