• Is cryptocurrency legal in Nepal?

    Is cryptocurrency legal in Nepal?


    So far, cryptocurrencies are illegal in a few countries, whereas the rest of the world either sees it as fitting to utilise these ‘monies’, or keeps them in a grey area of financial law. Similarly, though most countries in the world do not criminalise cryptocurrencies, they have yet to define their usage as monies or commodities, thus making varied classifications all over the world.

    Is cryptocurrency legal in Nepal? 2

    Nepal Rastra Bank has already made it clear in its notice dated August 13, 2017, that all transactions related to or regarding Bitcoins are illegal. But it allied Bitcoins to “Foreign Exchanges”, though cryptocurrencies have no foreign central authority to regulate them. This is where the confusion is. Bitcoin is a decentralised digital currency that is traded from one individual to the other, not through banks. It has no issuing or regulating country, and these bitcoins are converted into US dollars simply because dollars are used as an international exchange rate.

  • How Does The Stock Market Work?

    How Does The Stock Market Work?


    How does the stock market work? In a nutshell, the stock market is a market place for business people. Goods are sold to the public in a public market. However, in the stock market, the public is sold share. Shares are the form in which company stock is sold. When a person purchases more shares in a company, they have a higher ownership in that company.

    In the stock market, there is the primary market and the secondary market. In the primary market, companies sell shares to investors to raise financing for their operating expenses. In the secondary market, investors buy and sell shares in companies to other investors. Constantly changing market conditions are the basis of those buy and sell decisions.

    A stock market operates much like an auction house, with a systematic way of buying and selling. The system in the stock market involves a great deal of bustling activity. Often there are people running around frantically, shouting and gesturing at one another.

    The purchase and sale of stock starts at various places. A broker is contacted if a person wants to buy stocks in a certain company. The broker will take the investor’s money to the stock exchange to coordinate with a floor broker.

    In most cases, the floor broker works for the company selling stock. Right on the stock exchange floor, brokers buy the desired stock for the investor. Once the deal is made, it is communicated to a broker and the investor then becomes a stockholder of that particular company.

    Investors may decide to sell their stock. Usually investors want to sell their stock when the price per share increases so they can realize a profit on their investment. For example, a person may purchase 100 shares at the price of $25 per share. When the price increases to $35 per share, the person can sell the 100 shares and make a profit of $1,000.

    The driving force behind the stock market is the basic economic principal of supply and demand. The number of stocks open to the public is the supply. The number of shares that investors what to purchase affects the demand of the stock in a certain company.

    The constant change in the cost of stock is a result of conditions in other markets. For example, if people feel that the economy is growing they are apt to purchase more stocks. However, when the economy is in a decline, the majority of investors tend to sell off their stocks. On the flip side, some investors use this time to buy because the stock prices are usually at a discount.

    There are quite a few business people who make long term investments in the stock market. In some situations, stocks go down in value and a stockholder loses money. There is no guaranteed profit when investing in the stock market. Thus, when a person is flexible and able to handle the constant changes of the stock exchange they are more likely to experience a profit.

    So this is how the stock market works. In the end, patience, education and experience usually equals greater long term success.

  • The 4 Potential Problems With Variable Annuities

    The 4 Potential Problems With Variable Annuities


    One of the riskiest ventures is investing your money in the stock market. But along with the extreme risk involved, is also has the potential to make you a lot of money. In fact, investing in the stock market can turn out to be one of the most profitable business decisions you’ll ever make if done right.

    With so many variables to consider, it is expected that you may have hesitancy to risk your hard-earned cash on a speculative venture in the stock market. The best course of action is to hire a reputable stockbroker to handle your stocks in the beginning. A trained stockbroker can give you dependable stock tips and solid professional advice.

    Another good idea is to discuss stocks with an associate or friend with a bit of experience investing in the market themselves. Talking with educated friends and acquaintances can be a good way to get stock advice and knowledge for free.

    A well-known stock move is investing in variable annuities using the premium of your insurance. Variable annuities are actually insurance contracts that allow you to invest your premium in mutual fund type investments. While this may seem like a good idea, when you review it more closely, it might be a poor investment.

    The following are 4 potential problems with annuities:

    1. Early withdrawal penalties can cost you a double penalty. When you withdraw your profits, you will be penalized because insurance plans are designed for retirement. When you take money from your premium, it costs you in penalties to the government and to the insurance company itself.
    2. The death benefit affects the people you leave behind. If the stocks you hold are down when you die, your beneficiaries receive as much of the investments as you put in. If stocks are up when you die, they are taxed as regular income.
    3. Smaller taxes are paid on ordinary investments in mutual funds and stocks which qualify for low capital gains treatment. The gains from investing in premiums, however, are taxed immediately upon withdrawal.
    4. When you buy annuities with insurance features, they are actually more costly than regular mutual funds. When an annuity has more insurance features, there are annual fees heaped on top of it. The result is a loss of profits for you.

    Another thing to keep in mind is that timing is a key element to successful stock investing. There are specific times that are good to invest and other times that are poor. During times of hardship or national duress, the prices of stocks may be driven down to a discounted rate, but there is no reassurance that such stocks will recover to realize a significant profit. Educating yourself on the company is key in this situation.

    The bottom line with regards to investing in the stock market is diversification. The best decision is to diversify where and when you invest your money so you can always realize some type of profit to offset potential losses.

    And you should always hire a reputable finance professional to help guide you through the stock market.

  • Mero Kitta App Download

    Mero Kitta App Download


    We have noticed that people have been searching for a download link to Mero Kitta Application on Google Play Store and Apple Appstore.

    Mero Kitta App is not currently available as mobile phone apps.

    We will update our website with information on the launch of Mero Kitta App for mobile.

    For now, Mero Kitta can be accessed at: https://merokitta.dos.gov.np/application/main

  • Cryptocurrency prices are rising, with Ripple rising by 18%.

    Cryptocurrency prices are rising, with Ripple rising by 18%.


    Since Tuesday morning, the cryptocurrency market, which had been dropping for more than two weeks, has started rising. As a result, the values of the market’s leading cryptocurrencies have surged dramatically in the last 24 hours.

    According to Crypto.com, the price of Bitcoin has gained 8.24 percent in the previous 24 hours to USD 37,304, while Ethereum is trading at $2,707. In the last 24 hours, Ethereum alone has increased by 16.60 percent.

    Cardano rose 12.74 percent to 1.76, Binance Coin rose 15.02 percent to 358, Ripple rose 19.36 percent to 1.07, and Polkadot rose 18.44 percent to 23.11.

    Cryptocurrency is banned in Nepal, despite being recognized as a digital money in Europe, the United States, China, and India. However, in the lack of a cryptocurrency regulation in Nepal, the Nepal Rastra Bank has published a statement stating that only Bitcoin transactions are prohibited.

  • Ex-pat Nepalese get Rs 400 incentive while sending money to NICA accounts via World Remit

    Ex-pat Nepalese get Rs 400 incentive while sending money to NICA accounts via World Remit


    Ex-pat Nepalese who send money to NIC ASIA Bank accounts in Nepal using World Remit would receive a bonus of Rs 400.

    The scheme will run from Aswin 11 to Kartik 10, 2078, with just the first transaction eligible for the bonus.

    The bank now has 356 branches, 472 ATMs, 70 extension counters, and 81 branchless banking units across the country.

    Additionally, receive $20 bonus if you send money to Nepal using Word Remit by clicking on the link below.

    Send Money to Nepal now

     

  • Stock Market Strategy for Long Term Success

    Stock Market Strategy for Long Term Success


    While investing in the stock market is a risky proposition, that should not stop aspiring investors from taking that first leap. The secret of investing lies in having a stock market strategy for long term success.

    Be knowledgeable.

    Savvy investors only get into a stock market investment after they become aware of the necessary information about the company. It is unwise to invest in companies before learning everything about them including future plans, current performance and their past history.

    It is impossible for an investor to know everything right away. Getting investment advice helps investors locate the right stock that will offer significant profits over time. And an investor should always be aware of the fundamental value of the stock they are purchasing.

    Choose to invest in a company that is part of a familiar industry. An investor should have a decent understanding of the business they are investing in so they can fully comprehend the value of the stock. By having this type of knowledge, investors are more independent and do not need to rely solely on advisers and analysts.

    Investors should carefully select the sources of information they rely upon. Tips offered out in the stock market should usually be avoided as they are typically provided by people with vested interest.

    Have a long term goal.

    When investors get started in the stock market, it is important to set a long term goal for success. The goal determines the approaches to be used and influences the decision made in the future. Having a solid goal ensures greater regularity in the face of indecision when the stock market moves.

    A long term goal helps investors avoid making spur of the moment decisions that could negatively affect their financial picture. A long term goal helps investors create a more stable financial future by making steady investment purchases. With a long term goal in mind, an investor has greater consistency.

    Only take calculated risks.

    Speculative ventures must be avoided when investing in the stock market. While there are risks in any business enterprise, they must be calculated carefully to reduce the possibility of loss and maximize potential profits. Guesswork simply does not work when it comes to stock market investing.

    The stock market is not a gamble.

    Stock investing is not gambling and should not be treated as a game. Investor can lose major money in the stock market and investments simply should not incur huge losses. It is simple to purchase stocks, but difficult to regain lost money.

    No investor can afford to make costly mistakes in the stock market. When investors have the desire to gamble, the long term goal must be strictly reviewed and then followed. By revisiting the long term goal, investors can minimize the probability of investing too much money and losing it all.

    Be disciplined.

    Self-motivation is required for successful investing. To make the most of the stock market, the investor needs to have discipline and determination to keep persevering to achieve their goals.

    To be a winner in investing today, you must have courage, passion, knowledge and a stock market strategy. A prudent investor can take advantage of the myriad of opportunities in the stock market for greater financial freedom in the future.