What You Need to Know about Bitcoins Investing

bitcoinThe world is becoming even more reliant on the internet and so is online transactions. Bitcoin continues to be a fascinating and complicated new-age currency that is defining the way we pay for goods and services online. Right now, you can pay for anything using bitcoins, be it at food stores, supermarkets, consultancy services, limo service, financial services, and virtually any online service. It is a currency that is designed to pay for goods and services just like the way you would do with Euros and Dollars. However, bitcoin is decentralized, digital and pseudo-anonymous. This currency was developed in 2008 by Satoshi Nakamoto.

How to get started

First, you need to understand that bitcoins are not entirely anonymous. Talented hackers and government officials can track almost anything you do with Bitcoins, especially if identities are tied to addresses of users. To get started in bitcoins, you can buy using hard cash, debit or credit cards as well as wire transfers. You will need to have a bitcoin wallet which can hold your money. Another way of getting Bitcoins is through mining. Bitcoins miners make use of special software to solve math problems and then they are issued with a certain number of bitcoins for solving those problems.

Bitcoins Legality

The mining and the process of acquiring bitcoins are completely legal. Other laws involving bitcoins are still evolving, but as it remains, it is very legal. You can use bitcoins to purchase anything you want. In most cases, people use bitcoins to transact in the dark world market. The safety of bitcoins is a topic that drawsvolatility a lot of debate. Just like any other money wallet, hackers will always be after your bitcoins.

Investing in Bitcoins

Now that we have discussed the basics of bitcoins, the real issues remain on whether to invest in this currency or not. There is no a straight answer to this. First, you need to understand that mining bitcoins are a very expensive venture. You need to understand that bitcoins are not regulated by an agency and this is the main reason behind its shaky fluctuation. Bitcoin is not traded on the stock market and thus it cannot be traded via a brokerage. Its demand is very high but to succeed, you need to buy and hold it. You buy and hold with hopes that it will appreciate in value over time.

Bitcoin Alternatives

Bitcoin is the most commonly known form of cryptocurrency, but it is not the only crypto on the market. Other alternative cryptocurrencies on the market include Ethereum, Litecoin among others. Unlike bitcoins, traders of Ether can only operate it through its own network. Ether is not intended for everyday use as compared to bitcoin. On the other hand, Litecoin can be mined at home by anyone with a computer. A litecoin represents a peer to peer currency that allows for instant and a near zero cost payment to any person in the world. The popularity and value of bitcoin continue to rise mostly because of its relative anonymity. However, bitcoins can be used to every day to day transactions because it is legal.

 

 

 

 

 

 

Top Reasons to Visit China Today

cultureChina is one of the fascinating travel destinations in the world whether you are looking into its past or for a chance to reflect on its future. China is parked with new sights, stimulation, experiences and something new for everyone. I took time off https://abingdontowtruck.com/daily work to visit China, and I can attest to the enormous experiences I came across. China is not just a place you go to enjoy a vacation, but rather a destination to go and discover the best this country can offer. There is no better time like now to take time off your busy working schedule and visit China and here is why.

Culture and History

China is packed with more than 5,000 years of culture and history.  Chang’an, which is China’s early capital, and today is known as the city of Xian, competes with ancient Rome as far as the preservation of history is concerned. The world has seen many civilizations, but very few can match China. China can genuinely claim to be a leading power at various stages of history.  The cultural history of China has been refined over many dynasties and economic stages. There is the beauty of indigenous ethnic minorities and many more.

Awe-Inspiring Sites

China is filled with hundreds of eye-opening wonders be it natural or human-made. There is the stunning Great Wall, vast deserts of Silk Road, imperial palaces, and breathtaking views of Guilin’s limestone Karst Mountains among others.  The landscapes in China are diverse, abundant and truly world-class. They always offer something better than what the rest of the world does. China has a lot more from surreal landscapes, Rainbow Mountains, and amazing mountains.

China’s Influence

China is currently the second largest GDP in the world and is even poised to become the largest in the near couple years. More students all over the world are now studying Mandarin all aimed for Chinese trade. The Chinese businesses and consumers are becoming increasingly hooked up with the global market and trade. Having a glimpse of what is happening in China and being able to do business with the Chinese is one of the sure ways to grow rich fast. A trip to China is much more of an educational, leisure and sightseeing one.

Original Source of Asian Culture

Many Asians and other travelers in the world looking forward to studying the Asian culture find it suitable to settle in China. China serves as the most significant source of origin for dominant Asian cultures. The Japanese extraluminal culture got inspiration from the aesthetics and norms of China’s Tang dynasty which occurred between the 7th and 10th centuries. Vietnam always used Chinese as their official written language until the late 19th century.

Active Travel

A trip to China is not all about sightseeing, but also active travel. A trip to China offers one many opportunities to immerse themselves in exciting performances, cultural workshops, and active recreation. You can take a class in Chinese calligraphy or even a landscaping painting. You can watch Kungfu show or participate in other opera performances.

 

Most Imported Items to Import from China

machineryChina is one of the most important and recognized players in the global economy. Importing goods from another country can be a lucrative business. It can help to grow your business and also build a good relationship with foreign players. If you want to get started in importing goods from China, options are wide open. There are plenty of valuable goods and products that you can import.

The economic benefits for China and the rest of the world bring many benefits. China has particular business interest especially if it can reap from its raw materials. Enough said if you want to get started in importing from China, here are some of the most useful options.

Electrical Machinery and Equipment

The United States imported more than $147 billion worth of Chinese goods in the electrical machinery and equipment sector. The US heavily relies on China for electrical equipment especially due to its cheap labor. There are high taxes that would attract similar production companies locally, and thus US importers choose to go by the Chinese route.

Rice and Other Foods

American is a vast continent that is populated by millions of people. All these people need to eat every day.  Any country is always not able to produce all the food needed by its citizen on its own. There is always too much demand. China produces high-quality grains and other foods that serve the American market. Dog and cat foods are also high on the list. Though the Chinese imported goods market a tiny portion of the lucrative dog and cat foods market in the States, such imports still count.

Clothing

The textile and clothing sector in China is quite expansive and lucrative mostly because of the cheap labor. China offers high-quality materials and apparels that are in high demand by the US market. The reason Americans love the Chinese apparels is not just because of quality, but because of the pricing, it attracts. The clothes are adapted to the American market as there are no worries of failure.

Vehicles

The automotive industry is in a constant and rapid rise in China. Importers bring to the American market different pieces from China and use them to repair other cars. New models of Chinese cars are coming up every day all specially designed to withstand the harsh American climate and terrain. America also co considers China as am essential assembly destination, with many American automobiles manufacturing specific auto parts from China due to its cheap labor.

Step By Step Guide to Importing From China

china goodsAre you planning for a diversity of your business? Do you have a plan to leverage cheaper made products? If you answered yes in any of these questions, then we might have a solution for you, and this solution is none other than China. Importing products from China has become an essential ingredient for most business owners.

However, before you can rush and import products from China, there are a couple of things you have to get right. We have compiled this guide to help you through the process of identifying marketable products and how to import them. Let’s get started.

Identify What to Import

As with any other type of investment, you have to ensure that everything goes according to plan and that you have a clear understanding of the ins and out of business. You need to find products that are going to attract your local demand. Examples of these popular products may be electrical fittings, plumbing fittings, sanitary wares, electronics, tiles, jewelry among others.

Find a Good Supplier

china goodsThe key to getting the best quality products and on time lies in finding good suppliers. Sites such as aliexpress and Alibaba have an excellent database of Chinese manufacturers that you can count on. From these sites, you can find great suppliers for almost anything you need. However, it is essential to have a cross check on their credentials to ensure that you are getting the right deal. Before you can purchase goods in bulk, ask the supplier to send you some samples to ascertain if they meet your standards.

Determine Your Budget

Since the primary aim of importing from China is to re-sell, it is essential that you place the right orders. Apart from what you will incur in paying suppliers for goods, you will also spend a considerable amount on paying for duty fees, freight charges, clearing, inspection fees and any other charges. Have a real budget in place which will guide you in determining the maximum you can spend on the products to import.

Handling the Goods

First, you need to ensure that the goods you wish to import are permitted in your country. Also ensure these goods will be subject to permits, regulations and other restrictions. Note that China has many outlets where foreign goods get dispatched. These outlets include Tianjin, Guangzhou, Shenzhen, Qingdao, Ningbo, Shanghai and Dalian. In each of these ports, you will find different courier companies such as DHL and EMS ready to deliver your products. You can liaise with your supplier to drop goods at the nearest port city for the delivery company to pick them up.

When importing goods from China, there are a couple of don’ts you have to adhere to. First, don’t buy products in bulk until you have physically inspected them. If a supplier tells you, they can’t ship samples, that is little crap, avoid such suppliers like the plague. Do not pay for goods using your ATM card. Instead, use PayPal at least for a couple of months until you establish a rapport with the supplier.

 

 

 

 

Essential Tips for Negotiating in China

china charimanChina is a top U.S trade partner, and of late, it has diversified the industrial economy to provide the United States with multiple opportunities for investment and partnership. China is arguably the world’s leading marketplace, and it is now a force to note. A trip to China exposes you to lengthy contract negotiations among other business opportunities. You can watch skyscrapers and spend money on a couple of luxury brands.

If you are looking forward to interacting with the Chinese, here are essential negotiating tips when interacting with the Chinese.

 

Know Your Position

When negotiating with the Chinese anywhere, the first thing you need is to know your position. You need to spend quality time getting your negotiating team ready. Make them know any limitations and constraints behind the deal you are about to enter. Ensure that your negotiating team understands all the sensitive matters of your deal and all the key points that you can use as your strengths. Always find an amicable way of finding a solution.

 

Bring an Experienced Team in China

experienceNothing will make a business deal fail to work that bringing a team in China that doesn’t know all critical details involved. Understand that overly aggressive and hyper-direct tactics can be quite harmful to business. You need to have a team that is well accustomed to how to engage their Chinese counterparts. Always ensure you have a translator to make communication smooth and fast. Take heed that no irrelevant newcomers who enter you deal at an advanced position and jeopardize your deal.

 

Be Prepared for Anything

As compared to the west, China doesn’t have a clear set of the formally provided structure of doing business and reaching agreements. The west is laden with things such as agendas and expected outcomes, but in China, such doesn’t exist. Negotiations in China are just long drifting conversations covering different aspects on a broad set of topics. Even if there is a laid down agenda, don’t always assume that discussions will strictly follow these agenda.

 

Have a Translator

You need to have a translator who is familiar with your subject for discussion. If it is your first encounter with China, you may find yourself struggling to communicate. In China, you are pretty assured that the young generation speaks English, but the older generation is not familiar with English. If you want to get into negotiations with the older generation, you will most certainly need a translator. You do not need to have an expert. All you need is someone who can understand the translations and can convey the message without altering.

 

Align Payment Terms

While making negotiations with the Chinese, you need to align all the payment terms. One typical characteristic of Chinese is that they don’t like milestone payments as they want to ensure that you stick around up to the end of the project. Ensure that you have a viable project management team that can schedule up the duration of the project, together with a clear outline of payment terms.