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Succeed Over Debts With Credit Debt Counseling

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Having credit card debts can be a sign that an individual is succumbing to the temptation of excessive spending. Credit cards are known to provide people the buying power and have them pay their little luxuries in minimum monthly payments. While this strategy is popular in today’s consumerism-centered world, people can not help but think of the days where everything should be paid in cash, helping them steer away from unnecessary purchases and avoid incurring debts that can threaten their financial stability.

Consumers who have outstanding credit card debts have many options to solve their financial problems. The rise of debt relief companies in almost every state in the US has made financial assistance accessible to anyone everywhere. These companies aim to provide settlement assistance to people who are drowning in payments and can not maintain their monthly dues anymore. In a nutshell, these agencies help reduce debts and negotiate a good payment scheme in favor of the debtors.

One of the services they offer is credit debt counseling. This process involves negotiations with the creditors to generate a possible payment scheme that can be paid off in two to four years, depending on the income figures of the debtors. If ever the creditor sees that the debtor is indeed capable of getting over the debts after evaluating their finances, there is a chance for the debts to be lowered, and late fees & interest rates cancelled to make the strategy possible. This process is definitely an easy strategy if the credit card company is willing to listen and help their clients.

Credit debt counseling will also stop further temptation of buying, by cutting off the credit card power until the debts are paid off. Although it seems unfair to the consumers’ part; however, they should see that the strategy works for the better. The loss of credit card power will eventually help consumers realize their purchasing mistakes and get them to focus on the necessities only. The scheme would also help them allocate their budget responsibly, so they could answer the needs of the family, as well as pay off debts on time. It will undoubtedly be hard for them but they should take this as a challenge to prove that they can overcome their financial crisis.

Credit debt counseling could also affect your credit rating, depending on the varied policies of credit card companies. If you are lucky to be paying the debts on time, your credit report can show a positive rating. Having good ratings will help consumers apply for good bank accounts in the future, and will ensure lower interest rates if ever he or she decides to apply for a loan. If ever there is a reduction in your payments to help you cope up, then there is a possibility of seeing a negative score.

Credit card counselors aim to assist consumers in reducing debts and learning budget management skills that are crucial in this age of consumerism. Being smart in finances will help consumers, especially the ones with families, in dealing with financial crises and regaining financial stability as soon as possible.

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Terra Announces Non-Profit ‘Luna Foundation Guard’

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Terra Announces Non-Profit 'Luna Foundation Guard'

Terra Luna’s ‘lunatics’ have had their sights set on a multi-part announcement that is set to unveil, and this week the first piece of the puzzle has come to life.

This week, Terra announced the formation of a new non-profit organization, the Luna Foundation Guard (LFG), that is “dedicated to supporting the advancement of open-source technology, facilitating the growth of the Terra ecosystem, and improving the sustainability and stability of Terra’s algorithmic stablecoins.”

Terra Says “LFG”

Terra has launched a dedicated landing page, lfg.org, outlining the team, mission, and funding & grants around LFG. The new non-profit will emphasize a number of major pillars that they see as core in advancing the ecosystem.

Founder and CEO of Terraform Labs, Do Kwon, also released a recent tweet thread highlighting the major pillars behind LFG:

In all, the Foundation will serve as a mechanism to continue driving engagement and adoption of Terraform Lab’s growing stablecoin, UST. Adoption of UST has continued to grow as the token, seen broadly as one of the most decentralized yet mainstream stablecoin options currently available, approaches an $11B market cap.

The aforementioned Do Kwon will lead the charge for the Luna Foundation Guard, alongside founding member Nicholas Platias and several governing council members. The team will deploy foundation grants, starting at the end of the month, to blockchain projects in the ecosystem that address open-source development, research and education, and community growth within the Terra network.

Related Reading | TA: Bitcoin Dives Below $40K, Why Bulls Could Struggle In Near Term

Luna, the tradable token that arguably serves as the 'backbone' of the Terra ecosystem, has performed exceptionally well over the past year. | Source: LUNA-USD on TradingView.com

One Of Three… What’s To Come?

As mentioned previously, this announcement is slated to be the first of three, from what started as a teaser image of the cover photo used here. That photo led many ‘lunatics’ to speculate on what could be coming – the two intersecting circles led many to believe that an incoming MasterCard partnership could be coming, and many Terra fanatics believed that some sort of Bitcoin-related support could be brought to life as well.

Speculation aside, the Terraform Labs-created blockchain continues to shine, recently becoming the first decentralized stablecoin to achieve a $10B market cap as well as launching a new automated market maker (AMM), Astroport.

For now, the LFG webpage still has a “{redacted}” section, so don’t be surprised if the coming two announcements, which could likely be unveiled over the weeks to come, are extensions or supplementary pieces of the non-profit.

Related Reading | TA: Ethereum Nosedives, Indicators Show Signs Of Larger Downtrend

Featured image from medium.com/terra-money, Charts from TradingView.com
The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.

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Multichain Hacker Returns 322 ETH, Keeps 62 ETH as ‘Bug Bounty’

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Multichain Hacker Returns 322 ETH, Keeps 62 ETH as 'Bug Bounty'
  • Multichain claimed the critical vulnerability had been “reported and fixed.”
  • The money was returned in four separate payments.

Over the week, Multichain users lost more than $3M due to a security flaw in six tokens. More than 527 Ethereum is still untraceable even after the recovery of 322 Ethereum, which the white-hat hacker returned. One of this week’s Multichain hackers has remitted 322 ETH ($974,000) to the cross-chain routing protocol and one of the victims. As a “bug bounty,” the hacker pocketed 62 Ethereum ($187,000), while 528 Ethereum ($1.6M) remained unclaimed after the vulnerabilities.

Vulnerabilities of Six Coins

The theft of $1.43 million in WETH, PERI, OMT, WBNB, MATIC, and AVAX tokens was reported earlier this week due to a Multichain security flaw. On January 17, Multichain claimed that the critical vulnerability had been “reported and fixed.” However, due to the vulnerability’s public disclosure, many attackers pounced, stealing more than $3 million. Multichain has spent $44.5 million draining cash from numerous chain bridges to prevent severe vulnerabilities of the six coins.

Hackers calling themselves “white hat” have reached out to both Multichain and a user who lost $960,000 in the last day or two in an attempt to recover 80 percent of the money in exchange for a large finder’s fee. On January 20, Tal Be’ery, a co-founder of ZenGo wallet, posted a tweet claiming that the hacker had saved the rest of Multichain users from being attacked by bots through the act of defensive hacking.

The money was returned in four separate payments. The hacker returned 269 ETH ($813,000) to the individual he took it from in two transactions and pocketed the bug reward of $50,000 on January 20.

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Crypto Market Falls With Cardano (ADA) Losing 10% In Last 24 Hours

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Crypto Market Falls With Cardano (ADA) Losing 10% In Last 24 Hours
  • In January, ethereum is down more than 18 percent.
  • Cardano’s market capitalization fell to $41.27 billion.

The worldwide cryptocurrency market capitalization has fallen by 7.75 percent in the previous 24 hours to $1.83 trillion. A decrease in investors’ confidence sent Bitcoin’s price down to $39,000 today, continuing the downward trend. The most popular and most valuable cryptocurrency in the world fell by almost 7% to $38,802. Since the beginning of this year, the value of Bitcoin has fallen by more than 14%.

Meanwhile, the second most popular cryptocurrency, Ethereum, fell below the $3,000 barrier. At $2,861, it’s down by more than 8%. Compared to Bitcoin’s 60 percent rise last year, the token gained nearly 400 percent. However, in January, the token is down more than 18 percent.

Since October 27, 2021, Cardano’s (ADA) one-day percentage loss has been the highest. Cardano’s market capitalization fell to $41.27 billion, or 2.22 percent of the overall cryptocurrency market capitalization, following the downward trend. At its peak, Cardano’s market capitalization was $94.80 billion dollars. The preceding twenty-four hours have seen Cardano move between $1.2117 and $1.2802.

Read More: Cardano Price Prediction

60.90% Down From All-time High

Cardano’s price has been stagnant for the previous seven days, moving only 1.19 percent. The last seven days have seen this currency fluctuate between $1.2113 and $1.6349. Cardano is now trading at a loss of 60.90 percent from its all-time high of $3.10 reached on September 2, 2021.

ADA/USDT: Source: TradingView

Cardano’s price is now $1.23 USD, with a 24-hour trading volume of $2,814,126,246 USD, according to CoinMarketCap. Compared to the previous day, there has been a 9.99 percent decline in the price of Cardano.

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