Financial Success

Feb 02

Cryptocurrency ATMs Explained

By Brett B. Financial Success No Comments

You may have never heard of a cryptocurrency ATM, but they are starting to pop up in crypto hotspots all over the world. Despite its name, a cryptocurrency ATM is not the same as a regular automated teller machine (ATM). What is the same, however, is the concept of a kiosk hardware machine. Here, we will explain the basics of cryptocurrency ATMs to use them to your advantage better.

According to Investopedia, there are over 14,000 bitcoin ATMs worldwide, and the number is only growing. Coin ATM Radar estimates that there are over 12,000 cryptocurrency ATMs in the United States. This is compared to the previous year when there were only 6,700 in the US. This trend exemplifies the increased usability of cryptocurrency.

Basic Functions

These “ATMs” primary function is to allow public users to buy or sell cryptocurrencies for a terminal. The cryptocurrency ATMs are connected to the internet to execute the process.

The vast majority of these machines allow users to use cash or debit cards to buy cryptocurrency. Some will even give you cash if you sell your coin using the device. Because financial institutions do not operate cryptocurrency ATMs, they do not connect with users’ bank accounts.

How it works

The kiosks are all connected to the bitcoin network. A typical transaction will go as follows:

Buyers scan a QR code that is connected to their e-wallet address.
Purchased coins are transferred to the e-wallet.
The record of the purchase will appear in the wallet a few minutes after purchase.

It’s that simple!

Like a regular ATM, cryptocurrency ATMs charge a service fee for each transaction—most of the time, the ATM charges by percentage. Because of the service fee, buyers often receive a better value for their money when using regular trade sites like Coinbase.

Using these sites is most often recommended, but the ATMs’ existence increases the accessibility of cryptocurrency tokens. In turn, this could increase the utility and value of the coin.

New pieces of technology are being developed every day to capitalize on or increase the incredible usability of cryptocurrency. JIFU wants you to be educated and up-to-date, so be sure to check back frequently for more information!

Investopedia

Coinsource

Coinmap

Jan 08

Love1

The Most Important Financial Tips for 2021

By Brett B. Financial Success No Comments

2021 is a chance to reevaluate your financial situation and work towards a more secure future. It is never too late to get your financial house in order. You work hard, so why not save the fruits of your labor and invest wisely in yourself? We have compiled a list of a few simple tips to help you make this year more stable than the last.

Order Out Less

Saving money does not have to be a big, daunting task. Start small by bringing your lunch with you to work, or deciding to make a meal at home instead of ordering delivery. If frequent eating out is your vice, try slowly weaning yourself off of take out. Cut out one day of ordering, and you will be surprised at how much money you end up saving. According to a report aggregate by Statista, the average American, aged 45 to 54 years old, spent an average of 4,157 U.S. dollars on eating out. Implementing this small change could help and you may end up eating healthier too!

Workout at Home

During 2020, most people were forced to think outside of the gym when looking to exercise. This may have been a big change for some who rely on the equipment provided by the gym, but there is a hidden benefit of working out at home. You don’t have to pay the often steep monthly charge that gyms often charge! Some people need a change of scenery in order to feel motivated to get their sweat on. If this rings true to you, think about going to a park or running outside for some extra fresh air!

Banish Recurring Charges

Keep a strict eye on how many recurring charges are being run through your checking account. Recurring charges are services like Netflix subscriptions and Apple Music that charge you automatically every month for access. It can be easy to forget to cancel a subscription that you no longer use. This simple mistake can cost you! For example, if you pay for Netflix and Amazon Prime, you would be spending about 312 USD annually for entertainment. If you regularly use these services, it may be worth it. However, if you don’t use them, that is a sizeable amount of money wasted throughout the year.

Think Outside of the Box

Last year taught us all that even the best laid plans go wrong. Being able to think outside of the box became one of the most valuable skill sets a person can have. Whether it is with something like cryptocurrency or using ecommerce to its full potential, there are opportunities to make money for those willing to look for them. Taking risks can be uncomfortable, but the best things often come when steps are taken out of your comfort zone.

These are just a few tricks to help you on your financial journey. Remember to hold yourself accountable and set realistic goals. Be sure to let us know what plans you have for your financial future in the comments below!

Nov 04

Love1

Understanding Influencer Marketing

By Brett B. Financial Success, JIFU Success, JIFUshop 26 Comments

Marketing has come a long way since the days of “Mad Men” and the marketing giants of the ‘50’s, but some still don’t understand the extent to which marketing has completely changed into an industry that is almost unrecognizable.

The advancement of technology has created entire industries and careers that did not exist 20 years ago. One massive example of this phenomenon is what is known as influencer marketing, and its existence has changed the way that companies sell products forever.

If you haven’t heard of influencer marketing, chances are you have seen it in action, but just weren’t aware that it had a name. Essentially, it is a digital marketing strategy that consists of achieving a series of collaborative connections between companies and those people with high visibility and prominence on the internet. These people are known as ‘influencers.’

JIFU and countless other companies pay individuals to use the power of an influencer’s online presence to help sell experiences and products.

Social networks were created to connect people and groups to each other, regardless of location. This is clearly a beneficial system for brands to use to their advantage, and often they will pay influencers very well to do just this.

Online influencers are followed by a target audience that are often very consumerist and whose opinions are easily impacted by the influencer. The brand is able to advertise to a more direct audience and increase their own online presence.

In order to become an influencer, someone must have an open mind, perseverance, and dedication. Aside from these characteristics, it’s also important to master the leading social networks and create beautiful content to elevate them within their niche.

Often, brands will pay more to influencers who have more interaction. Someone may have a lot of followers, but if they have low engagement, they could be paid less than someone who has less followers on social media than them.

For example, Christiano Ronaldo has 240 million followers on instagram and a reported engagement of 2.22%. This means that 5,328,000 people engage on average with each post he makes, which is a decent interaction ratio.

However, nano-influencers (1,000-10,000 followers) can make a reasonable amount of money as well, as long as they have consistently good engagement. Micro-influencers(10,000-50,000 followers) generally make $100–$500 per post, again depending on several factors.

So how much do they make? It all depends on the brand, the influencer, and the platform. However, no matter your reach or your niche, there is money to be had. The influencer marketing industry is on track to be worth up to $15 billion by 2022 according to Business Insider.