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6 Digital Currency Tips: For Beginners

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Digital Currencies - A Beginner's Guide to Cryptocurrency

Digital currency, also known as cryptocurrency, is a digital asset designed to work as a medium of exchange. Over the past decade, cryptocurrencies have gained popularity, and numerous new digital currencies have emerged. While they were once viewed with skepticism, many investors have started to see them as a profitable investment.

One of the main advantages of investing in digital currency is their decentralized nature. Unlike traditional currencies that are controlled by governments, digital currencies operate on a peer-to-peer network that is not subject to government regulations. This means that digital currencies are not tied to inflation rates or other economic factors that affect traditional currencies. As a result, they can offer high returns on investment even during periods of market instability.

Another advantage of digital currencies is their security. Transactions made using digital currencies are recorded on a public ledger called a blockchain, which helps prevent fraud and unauthorized transactions. Additionally, digital currencies use encryption techniques to secure transactions, making it difficult for hackers to steal funds.

Investing in digital currency can also be an attractive option due to low transaction fees. Traditional financial institutions often charge high fees for transferring funds, while digital currencies charge relatively low fees or no fees at all. This can make investing in digital currencies a more affordable option compared to traditional investments.

However, investing in digital currencies also comes with risks. Digital currency values can be highly volatile and can fluctuate significantly over short periods. Additionally, the lack of government regulation can make them vulnerable to scams and fraudulent activities.

To mitigate these risks, it is essential to do thorough research before investing in digital currencies. Investors should understand the technology behind digital currencies and only invest what they can afford to lose.

In conclusion, digital currencies have significant potential to offer profitable returns on investment. However, they also come with risks, and investors must exercise caution when investing in them. As with any investment opportunity, it’s critical to do proper research and seek professional advice before investing in digital currencies.

Another advantage of digital currencies is their ease of use. Digital currencies can be used for online transactions, which makes them highly convenient for both buyers and sellers. This feature has led to the growing acceptance of digital currencies as a legitimate payment method by businesses worldwide.

Furthermore, digital currency investments offer diversification opportunities for investors. Cryptocurrencies are uncorrelated with traditional asset classes like stocks, bonds, and real estate. As such, adding digital currencies to an investment portfolio can help reduce overall risk and increase potential returns.

The adoption of digital currencies is also expected to rise in the future, leading to further growth in the digital currency industry. Major financial institutions and companies have started to invest in cryptocurrencies, and several countries have even started developing their own digital currencies.

Finally, digital currencies have opened up investment opportunities for people who may not have had access to traditional investments in the past. With digital currencies, anyone can invest and trade from anywhere in the world, provided they have an internet connection.

In conclusion, while investing in digital currencies comes with risks, it also offers significant potential for profitable returns on investment. The growing adoption of cryptocurrencies and their convenience, security, low transaction fees, and diversification benefits are some of the reasons why digital currencies are increasingly being seen as a viable investment option. As always, investors should exercise caution and due diligence when considering any investment opportunity.

Here are some steps to consider when investing in digital currencies:

Here are some steps to consider when investing in digital currencies

Research and educate yourself: Before investing in digital currencies, it’s essential to do your own research and understand the technology behind them. There are many resources available online that can help you learn about cryptocurrencies, blockchain, and the risks and benefits of investing.

1. Choose a reputable exchange: A cryptocurrency exchange is where you buy, sell or trade digital currencies. It’s important to choose a reputable exchange that complies with regulations and has a good track record for security.

2. Set up a wallet: A digital wallet is where you store your digital currencies. It’s essential to choose a secure wallet with private keys that only you control. This will help keep your investment safe from hackers or scams.

3. Start small: It’s recommended to start with a small investment and gradually increase your investment as you become more comfortable with digital currencies. This will help you minimize losses if the market doesn’t perform as expected.

4. Diversify your portfolio: Consider diversifying your investment across different digital currencies to minimize risk. You can also invest in other asset classes like stocks and bonds to further diversify your portfolio.

5. Monitor your investment: Keep track of your investment regularly and be prepared to make changes based on market trends. It’s crucial to stay informed about news and updates related to digital currencies to make informed investment decisions.

6. Seek professional advice: Consider seeking professional advice from a financial advisor or tax professional before investing in digital currencies. They can help you understand the tax implications and regulatory requirements associated with digital currency investments.

Here are some tips for investing in digital currencies:

Here are some steps to consider when investing in digital currencies

1. Do your research: Before investing in any digital currency, it’s important to do your research and understand the technology behind it, its market cap, its historical performance, and any potential risks associated with it.

2. Diversify your portfolio: It’s always a good idea to diversify your portfolio by investing in multiple digital currencies across different categories such as store of value, privacy coins, utility tokens, etc.

3. Invest only what you can afford to lose: Digital currencies are highly volatile, so it’s important to invest only what you can afford to lose. Don’t put all your savings into digital currencies or any other high-risk investment.

4. Keep track of your investments: It’s important to keep track of your investments regularly and stay updated on any news related to the digital currencies you have invested in. This way, you can make informed decisions about when to buy or sell.

5. Use a reputable exchange: Make sure to use a reputable exchange for buying and selling digital currencies. Choose an exchange that has good security measures in place to protect your funds.

6. Consider long-term holding: You may want to consider holding digital currencies for the long-term instead of trying to time the market. Many digital currencies have shown significant growth over the years, and holding them for a longer period may result in higher returns.

7. Stay updated on regulations: Digital currencies are still a relatively new technology, and regulations around them are constantly evolving. Keep yourself up-to-date on any regulatory changes that may affect the value of your investments.

8. Be aware of scams: Unfortunately, the crypto space is also known for scams and frauds. Be cautious of any investment opportunities that seem too good to be true, and always verify the authenticity of any project or exchange before investing.

9. Consider dollar-cost averaging: Instead of investing a lump sum into a digital currency, you may want to consider dollar-cost averaging. This involves investing smaller amounts of money at regular intervals, such as weekly or monthly, which can help reduce the risk of buying at an unfavorable market price.

10. Have a plan: Before investing in digital currencies, have a clear investment plan in place. Decide on your investment goals, risk tolerance, and how long you plan to hold onto your investments. Having a plan will help you make more informed decisions and stay focused on your long-term goals.

Here are some key features of digital currencies:

Here are some key features of digital currencies

Decentralization: Digital currencies are decentralized, meaning they operate independently of any central authority or government. Transactions are recorded on a distributed ledger, such as a blockchain, and verified by a network of users.

Security: Digital currencies use advanced cryptographic techniques to secure transactions and prevent fraud. Transactions cannot be altered once they are recorded on the blockchain, making them virtually tamper-proof.

Transparency: The distributed nature of digital currencies ensures that all transactions are transparent and publicly visible. This helps prevent fraudulent activities and increases trust in the system.

Low transaction fees: Digital currencies have significantly lower transaction fees compared to traditional banking systems. This is because there are no intermediaries involved in processing the transactions.

Borderless: Digital currencies can be sent and received across borders without the need for intermediaries such as banks or payment processors. This makes them a convenient option for international transactions.

Programmability: Digital currencies can be programmed to perform various functions, including automatic payments and smart contracts. This enables developers to build decentralized applications on top of the blockchain.

Limited supply: Most digital currencies have a limited supply, which makes them scarce and potentially valuable. This is in contrast to fiat currencies, which can be printed indefinitely by governments.

Fast transactions: Digital currency transactions can be processed in real-time or near real-time, depending on the specific currency and its underlying technology. This makes them a faster option than traditional banking systems, which can take several days to process international transactions.

Anonymity: Some digital currencies offer a certain level of anonymity that allows users to conduct transactions without revealing their identities. This feature can be useful for people who value privacy or want to protect their financial information from third parties.

Accessibility: Digital currencies are accessible to anyone with an internet connection and a compatible device. This means that people who are undeserved or excluded from traditional banking systems can still participate in the global economy.

Self-custody: Digital currencies allow users to have complete control over their funds. Users can store their digital currencies in a wallet that only they have access to, eliminating the need for a centralized custodian or intermediary.

Interoperability: Many digital currencies can be exchanged or traded with each other, making it easy for users to switch between different currencies based on their needs or preferences.

Who can invest in digital currencies

Anyone who is legally eligible to invest in financial markets can invest in digital currencies. This includes individuals who are of legal age, have the necessary funds or assets, and comply with the applicable laws and regulations in their jurisdiction. In some countries, there may be specific requirements and restrictions for investing in digital currencies, so it is important to research and understand the regulations in your local area before investing. Additionally, it is recommended that investors have a good understanding of the risks associated with digital currency investments and seek professional guidance if needed.

Risk of investing in digital currencies

Volatility: Digital currencies are highly volatile, and their values can fluctuate significantly in a short amount of time. This means that investors could experience sudden losses or gains.

Security: Digital currency exchanges and wallets have been vulnerable to hacking and cyber-attacks, which can result in the loss of funds.

Regulation: The regulatory landscape surrounding digital currencies is constantly evolving, and changes in regulation can have an impact on the value of digital currencies.

Adoption: Digital currencies are not yet widely adopted, and their popularity and acceptance by consumers and businesses may change.

Liquidity: Digital currencies may not be as liquid as traditional investments, meaning it may be challenging to buy or sell them quickly at a fair market price.

Market Manipulation: The digital currency market is largely unregulated, which can make it susceptible to market manipulation by large investors or groups of investors.

Technology Risk: Digital currencies rely on complex technology, and there is a risk that the underlying technology could fail, resulting in a total loss of investment.

Scams and Fraud: The digital currency market has also been plagued by scams and fraudulent activities, including Ponzi schemes, fake initial coin offerings (ICOs), and phishing attacks.

Taxation: The tax treatment of digital currencies is still unclear in some jurisdictions, and investors may face unexpected tax liabilities.

Operational Risk: Lastly, investing in digital currencies requires a high level of technical proficiency, and even small mistakes can lead to significant losses. Additionally, management of private keys and recovery phrases must be done responsibly as they are critical for accessing digital assets.

To minimize these risks, investors should exercise caution when investing in digital currencies, only invest what they can afford to lose, and maintain a diversified portfolio. They should also conduct due diligence on any exchange or wallet they plan to use, seek professional advice when needed, and stay up-to-date with the latest developments in the digital currency market.

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Fitch Ratings affirms India’s Long Term Foreign Currency Issuer Default Rating



Fitch Ratings affirms India’s Long Term Foreign Currency Issuer Default Rating

India’s robust growth outlook, resilient external finances, higher gross domestic product (GDP) growth, improving financial sector and other factors enabled Fitch Ratings to affirm the country’s Long Term Foreign Currency Issuer Default Rating (IDR) at ‘BBB-‘ with a Stable Outlook.

According to Fitch, India’s rating reflects strengths from a robust growth outlook compared with peers and resilient external finances, which have supported India in navigating the large external shocks over the past year.

These are offset by India’s weak public finances, illustrated by high deficits and debt relative to peers, as well as lagging structural indicators, including World Bank governance indicators and GDP per capita.

The credit rating agency said it forecast India to be one of the fastest-growing sovereigns globally at 6% in the fiscal year ending March 2024 (FY24), supported by resilient investment prospects.

Still, headwinds from elevated inflation, high interest rates and subdued global demand, along with fading pandemic-induced pent-up demand, will slow growth from our FY23 estimate of 7.0 per cent before rebounding to 6.7 per cent by FY25.

“Strong growth potential is a key supporting factor for the sovereign rating. Growth prospects have brightened as the private sector appears poised for stronger investment growth following the improvement of corporate and bank balance sheets in the past few years, supported by the government’s infrastructure drive. Still, risks remain given low labour force participation rates and an uneven reform implementation record,” Fitch Ratings said.

Pointing at India’s large domestic market as an attractive destination for foreign firms Fitch said, it is unclear whether the country will be able to realise sufficient reforms to allow the economy to benefit substantially from opportunities offered by the deeper integration in global manufacturing supply chains, including China+1 corporate strategies that encourage diversification in investment destinations.

Service sector exports, however, are likely to remain a bright spot.

On inflation Fitch forecasts the headline inflation to decline, but remain near the upper end of the Reserve Bank of India’s 2 per cent-6 per cent target band, averaging 5.8 per cent in FY24 from 6.7 per cent last year.

Core inflation pressure appears to be abating, falling to 5.7 per cent in March, its lowest since July 2021.

Fitch expects the general government deficit (excluding divestments) to narrow to a still-high 8.8 per cent of the GDP in FY24 (2023 BBB median: 3.6 per cent) from 9.2 per cent in FY23.

“We expect the central government (CG) to meet its budget’s planned reduction in the CG deficit to 5.9 per cent of GDP in FY24 from 6.4 per cent in FY23. The budget proposal boosts capex to 3.3 per cent of GDP from 2.7 per cent in FY23, offset by a cut in subsidy spending, notably in the year before the 2024 national election. Aggregate state deficits are forecast to rise slightly to 2.8 per cent of the GDP in FY24 from our 2.7 per cent estimate in FY23, as they also raise capex,” Fitch said.

Fitch said India’s debt to remain broadly stable at around 83 per cent of GDP in FY28, with an assumption of robust nominal growth of around 10.5 per cent and continued gradual consolidation.

The lack of sustained debt reduction is likely to increase risks to the rating if India faces a future economic and fiscal shock.

A high government interest payment/revenue ratio of around 27 per cent in FY23 (BBB median: 7 per cent) is a growing structural fiscal weakness.

On the other hand, India’s public finance risks are mitigated in part by limited reliance on external financing, Fitch said.

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Possibility of rival bids for Go Airlines? It is a hypothetical question: Kaushik Khona



Possibility of rival bids for Go Airlines? It is a hypothetical question: Kaushik Khona

Even though the Wadia group has approached the National Company Law Tribunal (NCLT) voluntarily to protect their leased planes from being repossessed, there exists the risk of other interested groups bidding for Go Airlines (India) Ltd, said Supreme Court advocate.

“The risk of some other interested group making a bid for Go Airlines that may be attractive for the creditors is always there. Go Airlines might have gone to NCLT voluntarily with an intention to retain its assets, but the risk of facing rival bids does hang over the promoters heads like the Damocles sword,” D. Varadarajan, Supreme Court advocate specialising in corporate laws, told IANS.

The purpose of NCLT is to resolve the issues fast, he added.

Queried about the firewall that the promoters have built around Rs 7,100 crore-turnover Go Airlines against rival bids before landing in NCLT, Kaushik Khona, Chief Executive Officer told IANS in an interview: “The process of NCLT and the IBC (The Insolvency and Bankruptcy Code) will be followed once the application is admitted. The question (takeover bids) is hypothetical to be addressed.”

Khona said the airline promoters — the Wadia group — are interested to be in the business and the purpose of approaching the NCLT is to retain the aircraft as the lessors are taking action to repossess them.

He also said the idea of promoters rebidding for the airlines was not thought of while approaching the NCLT. The insolvency petition is not a ruse to get loan write offs.

“We have not asked the banks to take a haircut (write off a portion of their loan,” Khona said.

According to reports, the airline has a total liability — dues to banks, other creditors, vendors etc. — of about Rs 11,463 crore.

The Indian government owned Central Bank of India said its outstanding exposure to Go Airlines as on March 31, 2023 is Rs 1,305 crore and an additional amount of Rs 682 crore sanctioned under the Emergency line of credit guaranteed by the Government of India.

The airlines have defaulted on its payment dues to aircraft lessors and others but not to the banks and the account has not been classified as a non-performing asset (NPA) by the bankers.

With nearly 50 per cent of its A320neo fleet grounded, India’s third largest airline Go Airline has approached NCLT for resolution under Section 10 of the IBC.

The airline said it has approached the NCLT, “…due to the ever-increasing number of failing engines supplied by Pratt & Whitney’s International Aero Engines, LLC, which has resulted in GO FIRST (airline brand) having to ground 25 aircraft (equivalent to approximately 50 per cent of its Airbus A320neo aircraft fleet) as of May 1, 2023.”

The petition is being heard by NCLT for admission.

According to Khona, if the petition is admitted by the NCLT then there will be a moratorium and the appointment of an Interim Resolution Professional (IRP) will be automatic.

In its petition, Go Airlines has suggested the name of a person to be appointed as the IRP and Khona said it is for the NCLT to decide on that.

Khona also said the airline had got enquiries for leasing for more aircrafts.

He said the aircrafts will be up in the air in 7/8 days once the petition is admitted.

Citing FY23 revenue of about Rs 7,100 crore Khona said even with a reduced fleet size the airline was able log such a revenue.

“We want more aircrafts on wet lease or dry lease,” he said.

In its petition, Go Airlines has suggested the name of a person to be appointed as the IRP and Khona said it is for the NCLT to decide on that.

As to the funds to restart operations, Khona said the airline is yet to draw the balance of Rs 208 crore of the Rs 1,500 crore sanctioned under the Emergency Line Credit Guarantee Scheme (ELCGS).

According to Khona, the airlines need about Rs 17-18 crore per day for its operations as the trade partners may provide the needed items — fuel and others — on cash and carry basis.

On the availability of pilots to fly the aircraft as many have started attending interviews held by rivals Khona said: “I have the pilots to fly all the 54 aircrafts. We have a huge fleet of pilots.”

Khona said the majority of the pilots have not left the company even during the Covid-19 period and added that it takes about six months for a pilot to fly an aircraft after joining a rival.

He did agree that the salaries for the ground staff have been paid while the April salary for the professional and others is pending.

Khona does not want to think about the chance of NCLT not admitting the insolvency petition as IBC wants every business to be up and running and in the case of airlines up and flying.

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Overall connected vehicle tech grows 60% in India in Q1



Overall connected vehicle tech grows 60% in India in Q1

India’s overall connected vehicle (CV) technology grew more than 60 per cent (on-year) in the first quarter of this year, with the electric vehicle (EV) market showing stupendous growth by 48 per cent YoY, a report showed on Tuesday.

The connected 2-wheeler (C2W) vehicles grew around 92 per cent YoY, with its market share increasing to nearly 60 per cent, according to data from market research firm CMR.

The electric 2-wheeler (E2W) market grew by 44 per cent YoY. The electric 3-wheeler (E3W) market grew steadily covering around 50 per cent share within the segment.

“There is growing consumer awareness around connected vehicle technologies. For instance, connected vehicle tech has consistently increased its footprint in the industry,” said John Martin, senior analyst, smart mobility practice, CMR.

The advanced driver-assistance system (ADAS) adoption grew around 50 per cent YoY in Q1 2023.

“With safety becoming a top consumer priority, ADAS feature tech has witnessed gradual adoption, with 70 per cent YoY 2023 growth market share of vehicles featuring Level 2 autonomy,” Martin added.

The electric passenger vehicle (EPV) segment grew over 114 per cent YoY in Q1 in India.

Connected features in the passenger vehicle (PV) segment have been grabbing the market fast with 56 per cent growth, of which, around 58 per cent of the connected passenger vehicle (CPV) market share is driven by conventional powertrains.

By Q1 2025, the EV market share in India is expected to surpass 24 per cent, while connected vehicles are projected to account for over 30 per cent of the market.

“By 2025-26, connected and software-driven vehicles will be key revenue drivers for the automotive industries,” said Martin.

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Hiring in startups up in April, despite 6% annual drop in e-recruitment: Report



Hiring in startups up in April, despite 6% annual drop in e-recruitment: Report

Despite economic uncertainties, the hiring activity among startups has significantly increased in April this year, while there has been a 6 per cent decline in e-recruitment for white-collar compared to the same period in 2022, a new report said on Tuesday.

According to the report by foundit (previously Monster India & APAC), there has been a 4 per cent monthly dip, indicating cautious hiring sentiments among Indian recruiters.

Although some sectors like BFSI (+3 per cent), Travel & Tourism (+2 per cent), and Import/Export (+13 per cent) experienced a boost on a month-on-month (MOM) basis, other sectors, such as Logistics, Home appliances, and Oil and gas, saw a significant decline.

“Although hiring has declined, there are still a plethora of job opportunities in emerging industries for job seekers. Remarkably, the Indian startup ecosystem has taken a turn, exhibiting resilience in hiring intent despite the prevailing job market challenges,” said Sekhar Garisa, CEO, foundit.

Moreover, the report showed that the Retail (22 per cent), Travel & Tourism (19 per cent) are among the top industries exhibiting positive growth year-on-year basis, while BFSI (-4 per cent) and BPO (-13 per cent) sectors continue to be apprehensive.

The overall hiring demand among startups has noted a strong 19 per cent (year-on-year) growth this April 2023 compared to the previous year.

In addition, while most cities showed an overall decline in hiring, startups in Bangalore, Mumbai and Delhi hosted maximum demand for professionals.

However, in the first quarter (Q1) of 2023, Indian startups raised a total of $2.8 billion in funds, a massive 75 per cent decrease compared to the same period in the previous year ($11.9 billion), as rising inflation and interest rates continue to impact investments significantly amid a deepening funding winter.

There were no new unicorns created in the January-March period, compared with 14 unicorns in Q1 2022, according to a recent report by Tracxn, a leading global market intelligence platform.

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Brand Storii by ITC Hotels continues to grow as it signs three more properties pan-India



Brand Storii by ITC Hotels continues to grow as it signs three more properties pan-India

ITC Hotels continue to expand and strengthen its presence across India with the signing of three more properties under brand Storii in Goa, Himachal Pradesh and Uttar Pradesh.

on Brand Storii’s expansion in India, Anil Chadha, Divisional Chief Executive, ITC Hotels said: “We are happy to announce the addition of three new properties under Storii by ITC Hotels at some of the most sought-after destinations in the country. The new properties at Goa, Manali, and Prayagraj highlight our focus on growth and expansion in the boutique hotel space. Storii by ITC Hotels is fast becoming a preferred brand in the experiential segment, welcoming travelers seeking local experiences. Every property under this brand tells its own unique Storii.”

Soon to open, Storii Moira Riviera, is located in Moira, a pretty village in North Goa known for its beautiful rivulet views, winding lanes and serene sunsets. This 15 keys boutique property follows the Mediterranean style design & architecture. Most rooms offer a plunge pool, fascinating scenic sights and various recreational facilities including the K by Kayakalp spa.

Adding to their strength in Himachal Pradesh, ITC Hotels has signed the 23 keys Urvashi’s Retreat, Manali for brand Storii. Enhancing the boutique experience, every aspect of the property will be further personaliSed to offer a unique blend of local rusticity and splendor. With around one thousand square feet-large playroom, Urvashi’s Retreat is popular with kids.

Located in the heart of the city, Storii Prayagraj is rooted in heritage and just 10 km away from the popular pilgrim spot – Triveni Sangam. Built in traditional architecture with sprawling lawns, the property will be extensively refurbished to accommodate a new wing even as the current heritage wing stands a reminder to the eras gone by. The new offering shall offer the K by Kayakalp spa and exciting food and beverage options including a bar, an all-day dining and a speciality restaurant.

Storii is a collection of hand-picked boutique properties, designed to satiate the ever-evolving needs of the global traveller. Consisting of intimate-sized properties in the premium segment, Storii by ITC Hotels can be found at both expected and unexpected destinations, breath-taking locales or sites steeped in history, golden untouched beaches or jungles thriving with adventure, quiet scenic valleys or deserts buzzing with folklore. Each property offers a distinct experience, and these unique stays will ensure that the brand tells a story like no one else.

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