PayDay Loans – The Facts

As the credit crunch starts to bite in the UK with Fuel and food costs rising more and more people are finding that a small emergency such as their car breaking down can leave them short of money until they get paid. Payday Loans are becoming more and more popular for short term borrowing to get over these emergencies.What is a Payday Loan? When times are tight Payday Loans are a very simple and hassle free way to get a short term loan until you get paid. They are recommended to be used for short term emergency borrowing . As an example, if you have to travel to work by car due to public transport not being an option. You have a break down and you can’t get to work, catch 22, no car, no work therefore loss of pay – a viscous circle. A Payday Loan may be the answer. You can apply and get the money the same day paid into your bank account.How do payday loans work? Very simple. Using a simple on line form on the you can apply in five minutes. There are no credit checks and you can have the money the same day. The requirements are:-
You must be over the age of 18
Your monthly earnings must be over £750 per month and you must be in full time employment
You have to have a Bank account with a debit card, the debit card is used to recoup the loan once you have been paid
Who can get a Payday Loan?You are likely to qualify if you are over 18, in full time employment and your earnings are over £750. You will also have to have a bank account and debit card.What information do have to supply?Generally the simple on line form requires the following information:Your basic details such as name and address Your date of birth Your contact telephone numbers and email Your work and salary details Your bank account and debit card detailsWhy do the Loan Companies need all this information?All Loan Companies have to act in a responsible manner and they need this information to verify:
That it is you taking out the loan and not someone else using your name
That you are in full time employment and able to repay the loan, if not in full time employment they will not give you the Loan
That they put the money in your account and no-one else’s account
That you can repay them in a simple and hassle-free way by using your Debit card details.

How long does it take? 5 Minutes, literally. All you need to do is fill in a simple on line form. The Loan company will generally give you an instant decision once you have completed their simple on line form. Once approved the money will be deposited into your account the same day. Please note with some banks it may take 1-3 days for the money to clear.How much can you Borrow?Most Payday Loan companies will allow you to borrow from £80 to £750 depending on your circumstances such as your monthly salary. The table below shows the costs of Payday Loans:-Amount Borrowed Amount you repay

£80 £100

£100 £125

£200 £250

£300 £375

£400 £500

£500 £625

£600 £750

£750 £937.50

If you look at the Typical APR of 1845% this sounds horrendous so lets have a look at some comparisons of other forms of lending.Type of Loan Amount Months Total repayment APR Actual Interest

Installment £500 36 £745 16.9% 49%

Installment £500 60 £970 16.9% 94%

Payday Loan £500 1 £625 1845% 25%

So now you can see the difference. The longer term loans seem to have much lower interest rates (APR) but in reality you will end up paying a lot more back then you borrowed in comparison to a Payday loan, this is why payday loan companies always focus on the actual amount you will pay back not the Interest rate. Personally I think that if I needed to borrow money for an emergency I would prefer a payday Loan to a normal long term loan as it will be cleared the next time I get paid.How easy is it to pay back my Loan? Very Easy – the agreed repayment amount would be debited by the Loan company from the debit card that you registered on the on line form on your next payday – there’s nothing else for you to do.Can I defer my payment? Yes – although after deferring the payday loan twice they will ask you to start reducing the balance. Deferral will incur new charges for every month the loan is deferred – but still at our fixed rate – there are no additional charges.What happens if your bank account details or the day you get paid changes?If your payday has changed, or you have a new debit card, just contact the customer services department and they will change your details straight away.What if I have problems paying? Payday Loan companies understand that people’s circumstances can change. If this is the case, you must let them know as soon as possible and they will always do their best to help.The most important things to note are:
Do not get a Payday Loan if you are unsure that you will be able to pay it back when you get paid.

If you are having difficulties then contact the Loan company as soon as possible. Do not bury your head in the sand and hope it goes away.

The How To Guide To Organic Indoor Gardening

Since I can remember, I have always loved to get my hands dirty in the garden. I can still remember growing my first pea plant and anxiously watching everyday for that little sprout to get going. It always fascinated me how such a delicate sprout could, with the proper care, become a strong, vibrant plant that will produce delicious fruits.The garden has always been of great Importance to me. It can be a point of pride or – if its in poor repair – a source of embarrassment. For these reasons, and because a garden is such an Important investment, it only makes sense to provide all the tender loving care that you can give.Sometimes this is easier said than done, because gardening is so complex, right?Wrong!Anyone who has the desire to grow plants can do it. Whether it be fruits and veggies for eating or beautiful flowers to decorate your home. Growing a garden is a simple thing when you educate yourself first. You should do research on any species of plant that you want to grow so that you will be ready and able to address any issues that may come at you along the way. I’m going to touch on the basics of growing your own garden. It will be entirely up to you to do the research on any other particular species other than what is mentioned in this article.LightingBeing a gardener, the winters have always been the toughest times for me. I’m not sure if its cabin fever or just a need to make things grow. In some parts of the United States, it isn’t an issue, but, in Kentucky, the winters can be very harsh, making it impossible to grow outdoors.With the evolution of CFL technology ( compact fluorescent lamp ), it has become very affordable to move my garden indoors. The CFL’s remind me of aquarium lighting and uses about as much energy. I use New Wave T5 High Output Fluorescent Lights in my garden with grand results.These new high output fluorescent lamps have an extremely high lumen per watt rating compared to standard fluorescent bulbs, making them extremely suitable for indoor cultivation purposes.High-output fluorescent lamps have a very low heat factor which allows the fixture to be mounted extremely close to the plant canopy, thus increasing usable light levels. The New Wave T5 features a wide throw reflector lined with Imported german 95% reflective aluminum to drive every available lumen of light to your plants. Light output is 300% higher in this high-tech reflector compared to cheap fluorescent fixtures.I keep my lights very close to the tops of the plants and my young sprouts are in no danger of being burned or dried out by the heat. And it gives you peace of mind knowing that there isn’t as much of a chance for fire like there is with heavier, hotter, high output metal halide lamps.When your vegetative area starts getting a little larger, or when you are growing plants larger than 24 inches tall, you may find it time to purchase a metal halide for your indoor garden.Metal Halide plant lamp systems produce a strong output of the blue spectrum, which will promote strong vegetative growth. This blue spectrum is most needed by plants for rapid growth. It’s the best type of light to be used as a primary light source (if little or no natural sunlight is available). If you are growing leafy plants such as lettuce or herbs then a Metal Halide bulb is sufficient. Metal halide plant growth lamp systems can be used as the primary light source to grow plants from start to finish.The T5 replacement lamps sell for about $17 each (TL5 HO/54W/865) or $68 for four, while the HID bulb can go for about $85 for MH (MS 1000 hor) or $120 (LU100S/HTL/EN hortlux) or $100 (LU1000 standard). The amount of light you can put on the plants will depend to a much greater extent on the distance that the leaves are from the plant than the fixture. The kind of light you want depends on the kind of plants you have.The Metal Halide will give you more foliage, the High Pressure Sodium will induce bloom but draw the plants out longer. Depending on the natural heat and light conditions where you are growing, the heat output from the HID lights can help keep the growing space warmer. This can be a consideration especially when you are spending good money on heat. Depending on how far North you are, it can be very difficult to get plants to bloom in a greenhouse in the dead of winter. You can, however, mature fruit which has already set.So, the answer is that every decision is a trade off. Make up your own mind.HID Lighting Helpful TipsHanging height: Due to the heat that is emitted from these types of fixtures, you should hang them according to size. Smaller wattage systems (100 and 250) should be hung about 2 to 3 feet from the top of the plants. Medium wattage systems (400 and 600) should be hung around 4 feet from the top of the plants. High wattage systems (1000 and up) should be placed at least 4 to 6 feet from the plant tops.How long should lights run? This depends on the type of plant. Most plants and vegetables need about 10 to 12 hours of light to promote growth. Plants that produce fruits or flowers will show improvement with up to 16 hours a day of supplemental light.Light Emmiting Diode (L.E.D.) – I’m interested to see if these lights will be the lights of the future.The basic idea is that a growing plant uses only a narrow band of the lighting spectrum for chlorophyll production. Up to now the only choice has been CFL, Sodium or Halide lights which both produce a very wide band of lighting and less than 10% of a Sodium or Halide lamps output is actually used by the plant.With the advent of LED lighting, they can custom tailor the output of the lamp to match exactly the band of light required for Chlorophyll production! This means that almost 100% of the power input for LED GROW LIGHTs is used for plant production.Another great benefit of the LED GROW LIGHT is the very small amount of heat produced. The l.e.d. grow lights operate completely cool to the touch and plants can actually grow right up to the fixture, try that with any Sodium or Metal Halide lamp.1) No fans required for cooling2) No heat damage to plants3) No high temperature lights to worry aboutAlso, the LED GROW LIGHT does not require a ballast and simply plugs into any standard household outlet. These lights have a rated life of over 100,000 hours! (there are 8,760 hours in a year).BLUE LIGHT is important for the formation of chlorophyll, chloroplast development (chloroplast are the little organs inside cells where photosynthesis takes place, more of them = more photosynthesis = more plant growth), also, photosynthesis circadian rhythm (knowing when lights are on and off – related to flowering too) and the production of some enzymes in plants is controlled by blue light. In land plants, a decrease in blue light also might signal to a leaf that it is a shade leaf… meaning it thinks it is not in good light, so it won’t make chloroplasts, which means no matter how many photons of light hit that leaf it will not produce the maximum amount of energy that it could.RED LIGHT stimulates phytochrome responses such as stem elongation, flowering, and other plant morphology changes.HPS lights have more yellow/red which is why they lead to elongated stems, and great flowering. Red light can increase starch accumulation in some plants (that is like animals gaining fat, extra energy).It Can be used by itself to grow plants or to supplement HPS (High Pressure Sodium), MH (Metal Halide) or Fluorescent Grow Lights.Light Emitting Diode (L.E.D.) technology is the absolute newest technology in plant growth. These lights represent the cutting edge of horticultural lighting. LED lights are currently being used by NASA for growing plants in outer space!Planning and StrategyPlanning and strategy are obviously important for a healthy garden. Make sure to have sufficient lighting, proper soil with good drainage, good nutrients, fresh air, room to grow, and a quality water supply.This will ensure a healthy garden that will pay you back for all your hard work and patience.You should plan for plenty of grow room. Before long, your garden will be lush, and may become difficult to care for if there isn’t enough space for you to water.Make a list, depending on how big you want your garden and what you want to grow. Be sure to ask questions at your local garden center. The people who work at garden centers generally are very knowledgeable about all aspects of growing.So, make a list, Check it twice, And lets get growing!The Organic gardenerOrganic grow mediums – I always start my seeds in Bio-dome. Bio-dome make germination a breeze with a climate controlled environment. Everything you need to get your seeds going can be bought in a inexpensive kit at your local garden center or you can pick one up at wal-mart for around four bucks.Tip: Get a spray bottle and mist your seedlings often. As your plants grow, they will benefit from an occasional misting.Once your seeds have sprouted, you can move them from the bio-dome and plant them into individual containers.*This is very important:Be sure to place in containers that drain well. If your soil or containers do not drain well, it will be difficult for their roots to grow big and strong which in turn will deprive your plant of important nutrients and oxygen, resulting in lanky plants with small fruits and, given enough time, will cause disease and unwanted pest.I always fill my containers with Foxfarm soil. The ultimate potting soil – everything your plants need, in one bag. With their powerhouse blend of earthworm castings, bat guano, and sea going fish and crab meal. Composted forest humus, sandy loam, and sphagnum peat moss give Foxfarm its light, aerated texture. Start with Foxfarm and watch your plants come to life!I like to add a little perlite to my mix for even better drainage.Watering properly – This is one of the most common problems with gardeners. I know that it was frustrating for me until i learned the trick to keeping my plants watered well without overdoing it. If you only take one thing from this article with you to your garden…take this tip!Stick your finger in the soil, about two knuckles deep.Check for moisture.If its moist, you will feel it.Give it another day.If its too dry, it will be difficult to break the soil very deep.Do not have a watering schedule without knowing if your plants need watering or not. Water just enough for your plant to consume within 30 minutes or so. This will help prevent root rot and allow your roots to absorb oxygen. The end result will be a huge root mass that will supply your plants with all the nutrients they need to produce the goodies that we all love so much.*Tip: The quality of water is of great importance. If you only have a tap water source, be sure to set your water out in containers for at least 24 hrs. before watering. This will give the chlorine and other harmful elements time to dissipate. Using chlorinated tap water will destroy vital microbes that help feed your plants.Nutrients – You cant just rely on good soil for your nutrients. The truth is that most of your nutrients that come in your soil will be used up within a few weeks. You will need to supplement your soil depending on your plant variety. If you do a simple word search for homemade fertilizers, you will find many home remedies for making your own organic compost. I’m not going to touch on that because its not the route that I take to organicville.You can start a compost pile somewhere in your backyard but it brings in to many pest for my garden so I buy my nutrients all ready broke down and packaged for easy storage. For a small price I get all I need bottled up and ready for easy application. I use, but not limited to Foxfarm hydroponic plant food. Now i’m an old dirt warrior but I love the easiness of the bottled nutrients. Just because it says hydroponic plant food doesn’t mean we can use it on our soil. It works so well for me that i’m sure that I will never try anything else. All the directions are on the bottles and easy to follow.Get your garden going with Grow Big, Foxfarm’s fast-acting, water-soluble fertilizer for lush, vegetative, compact growth. Use Grow Big early in the season when young plants need an extra boost. They add earthworm castings and Norwegian kelp into this special brew to encourage sturdier, healthier stems and leaves, but they also provide enough nutrients and trace minerals to create the kind of healthy branching that you’ll need later in the season for more abundant buds and blooms.Garden Tip: Allow new plantings a few days to settle in, then begin using at the rate of two teaspoons per gallon of water every other time you water. You can also use Grow Big as a foliar feeding, applying to both sides of leaves, preferably early in the morning. At the first sign of flowering, switch to Tiger Bloom Liquid Plant Food.Ready to bloom? Tiger Bloom makes it happen. This is an ultra-potent, fast-acting, high-phosphorus fertilizer with just enough nitrogen to sustain healthy, vigorous green growth during flowering. The low pH keeps it stable and ensures that the micronutrient’s will be available when plants need them. In addition to containing critical trace minerals,Foxfarm brews their liquid fertilizer with earthworm castings and kelp meal for a biologically active formula.Garden tip: Use Tiger Bloom at the first sign of flowering at the rate of 2-3 teaspoons per gallon of water. It can also be used as a foliar fertilizer; just apply it to both sides of leaves early in the morning. To extend flowering or fruiting, add their Big Bloom liquid fertilizer late in the season.I also use an all purpose deodorized fish emulsion. This will give you a measured dose of nitrogen to get you through for a few weeks.Alaska Fish Fertilizer contains over 19 trace elements and 11 different vitamins, including vitamins B-1 and B-12. Deodorized for use on all indoor and outdoor plants. Often combined with Maxicrop to enhance performance. It will not burn the plants.Root DevelopmentThis is probably the most important part of your plants development. Without a large, healthy root system, your plant will be starved of vital nutrients and will produce a small harvest that will hardly be worth your time. The bigger and healthier the root, the bigger and healthier the plant. These two things go hand in hand.So, I like to focus from seedling, on taking care of the root system and giving it delicate nutrients to boost its growth. This will ensure that my garden will produce large tomatoes and other vegetables. I use Maxicrop liquid seaweed for extra minerals and to bulk up my roots.Maxicrop Liquid Seaweed (Kelp Extract)Derived from fresh Norwegian kelp (Ascophyllum nodosum), Maxicrop Kelp contains over 70 minerals, micronutrients, amino acids and vitamins. Also contains growth regulators which stimulate vigorous root development and plant growth. Encourages tolerance to plant stresses such as frost, pests, disease and drought.Last, but not least I use Earth Juice, a catalyst I give my plants and it increases how much the plants can take in. If you can get more of your nutrients in, your plants are sure to be full.Earth Juice CatalystThe crucial link, is a versatile and vital product for the home, farm and anyone who wants to optimize their plants and trees nutrient uptake for increased growth and yields. Catalyst provides whats missing – enzymes, hormones, vitamins, amino acids, nutrients, and surfactants that aid in stimulating overall plant growth and production. Best when used in conjunction with organic or synthetic liquid and dry fertilizers.Do not use with synthetic time-released fertilizers. A great organic alternative to synthetic B-1 formulas and growth boosters. Use as an organic cloning solution for soft-stem cuttings.Air circulation and ExhaustAir circulation – Its very important to provide your garden with fresh air. An oscillating fan will usually be enough to provide fresh air and to provide some sort of exhaust as long as your garden is in the open. If you grow your garden in a closet or a similar small space, be sure to leave the door open as much as possible. This will ensure proper ventilation and your garden will do well.Good air circulation is essential for a good, strong garden. The motion of the air will cause your plants to have fat stalks and be able to support larger fruit. I wont spend too much more time on this subject. Just go buy a fan and provide some fresh air for your garden. It will love you for it!Try to buy a fan that oscillates, It will give you more option than a stationary. Making sure to hit every part of your garden.Your light will depend on how much exhaust your garden will require. The heat from some lamps need to be directed out of the garden area immediately. I have included some Pictures to give you a better idea about exhaust fans.These exhaust systems are not necessary with CFL’s or LED’s.Temperature and Humidity ControlTemperature & Humidity Control – Keeping an eye out for your temperature and humidity can help prevent unwanted pest, mold, mildew, and over – heating. Most plants grow well between 70 and 80 degrees and, I like to keep my humidity around 50%, but, it will depend on your choice of plant life.I use this EcoPlus thermometer / hygrometer. They are really inexpensive and will save you a lot of headache later. They are usually around $25.00.o Perfect for constant temperature monitoring of a garden.o Measures indoor/outdoor temperature & indoor humidity.o Stores the Min./Max. values of the indoor/outdoor temperature and indoor humidity.o Switch between °C and °F.o Clock function with alarmo 12/24 hour mode switcho Water proof temperature probeReally hot conditions can result in dry soil and your plants wilting away.Pest ControlPest Control – There are some really good organic pest killers and prevention products on the market but, I have found that a combination of cleanliness and preventive maintenance are the best avenues for a pest free garden.Be sure to clean your grow area before planting the first seed. A couple of teaspoons of bleach in a gallon of water should do the trick. Spray your grow area down well and wipe dry.Pay special attention to the corners, making sure to get every bit of dust and dirt.I like to follow up with Safer Brand insect killing soap that is all organic. This stuff keeps all the little guys away! It is best used as a preventative measure to ward off insects that might want to eat your lovely plant friends. It contains seaweed extract to keep plants healthy and combat stress.An OMRI (Organic Materials Review Institute) organic product, which means you’re not spraying your leafy friends with toxins, unfriendly to either you or your plant. Made from plant oils, the soap gets rid of unwanted insects by disrupting their waxy outer skin (beneficial insects such as ladybugs and praying mantis are hard-bodied and not affected by the soap).Keeping Safer’s on hand will ensure that your garden is a pest free environment, enabling your plants to grow to their fullest capacity.Here are a few examples of the pest that can ravage your garden.Fungus, Molds, and Mildew ControlFungus, Molds, and Mildew – This is another instance where I believe that Safer Brand is the best choice for my garden. I use their Garden Fungicide for my entire grow area. I would suggest spraying your grow area down with Safer before planting. This will kill any lingering mold or mildew that can harm your plants.I believe that with the proper care and preventive maintenance, you can stop these problems from ever occurring. Just remember…..Keep your work area clean and find a good organic product to keep on hand and your end result will be a grow area that you can be proud of and it will produce a bounty for you repeatedly.Sing to your plants!I know it sounds crazy but they love it! You could whistle or just make a point to breath on your plants everyday. You could buy an expensive Co2 emitter but, for a small indoor garden, your breath will be plenty of Co2 to make a difference.Here is a report about the importance of Co2 that I found on the internet:The Importance of Carbon Dioxide (Co2) for Healthy Plant GrowthCarbon Dioxide (CO2) contributes to plant growth as part of the miracle of nature known as photosynthesis. This enables plants to combine Carbon Dioxide and water with the aid of light energy to form sugar. Some of these sugars are converted into complex compounds that increase dry solid plant substances for continued growth to final maturity. However, when the supply of carbon dioxide is cut off, or reduced, the complex plant cell structure cannot utilize the suns energy fully and growth or development is curtailed.Although carbon dioxide is one of three main components which combine to produce the products necessary for plant growth, the amount of carbon dioxide in the air is only 0.03% (250 to 330 parts per million). This compares to 78% nitrogen, 21% oxygen and 0.97% trace gases in normal air. Numerous tests have proven that during the winter months carbon dioxide concentrations inside greenhouses is invariably much lower than in outside air. This same phenomenon has been shown in controlled environment gardens.CARBON DIOXIDE (CO2) – IMPROVES PLANT GROWTH AND QUALITYResearch has shown that in most cases rate of plant growth under otherwise identical growing conditions is directly related to carbon dioxide concentration.The amount of carbon dioxide a plant requires to grow may vary from plant to plant, but tests show that most plants will stop growing when the CO2 level decreases below 150 ppm. Even at 220 ppm, a slow-down in plant growth is significantly noticeable.Colorado State University conducted tests with carnations and other flowers in controlled CO2 atmospheres ranging from 200 to 550 ppm. The higher CO2 concentrations significantly increased the rate of formation of dry plant matter, total flower yield and market value.So basically, Co2, will help in making your fruits and flowers bigger and better. It will make all the difference to talk, sing, breath or whistle to your plantsAnd, you could supplement your singing with a Co2 boost kit. You can pick one up from $75.00 – $150.00 from many different suppliers over the internet. This would make all the difference in the world! Highly Recommended for Larger Gardens!!!So, Enjoy your new garden, and make sure to have fun with it. With the proper care and a little patience, your garden will pay you back repeatedly.

Crypto Currency Vs Fiat Currency

Crypto currency vs. Fiat currency

Are you aware of the fiat currencies and the crypto currencies? They both are currencies in one form or the other and are open for public use across the world. But they are both different and distinct in their own ways. There is always one group that favors the use of cryptos, while the other has a soft corner for the fiat currencies.

In cashless society- crypto money play a huge role

If you have a look at the market of the 1970s and 1980s, you will find that the cash played the dominant role. But, with the change in the technology, electronic transactions have become the usual norm. Today, more and more people are influenced in becoming the cashless society. With the progress towards the cashless society, cryptocurrencies have a big role to play.

Crypto currency and fiat currency are always at loggerheads

Cryptocurrency and fiat currency are popular types of digital currency, especially when it is about an online transaction. They both are currencies currently in use in the market but have some differences in them. There is a hell lot of hypes that you will hear on a daily basis comparing the crypto money and the fiat money. This article will highlight the difference between the two in a more comprehensive and clear manner.

Differentiating in what the currencies stand for

Before going for the difference between the two, you must understand what do they stand for and how are they are defined.

The fiat currency is a legal tender that has the support of the central government, and it operates in the physical form. For instance, US dollars, British Pounds, Euro etc. On the other hand, the crypto currency is a non-legal tender, and doesn’t have any backup from the central government or bank.
Hence, the difference between crypto currency and fiat currency is noted as follows:

• Crypto-currencies are decentralized and global in nature. There are no one entity or government that controls the currency with their laws and regulations. The Fiat currency is centralized, under the control of the laws and regulations of the banks and government.

• Crypto-currencies have their existence only in the digital domain. On the other hand, you will find that the fiat currencies have a tangible and physical existence.

• There is a limited supply of crypto-currencies with a maximum set of them getting supplied in the market. Whereas, the fiat money has an unlimited supply as the government and bank are entitled to produce coins and paper money whenever the situation is required.

• The Bitcoin and other crypto type currencies are created by the computers, while the fiat currencies are issued by the local government and the banks.

• Cryptocurrencies are presented as the public and private code pieces. On the other hand, the fiat currencies are presented in the form of coins and paper money.

• The value of the crypto currencies is not recognized by the supply and demand of the market. Whereas, the fiat currency value is determined by the market regulations of supply and demand.

The different types of crypto and fiat currencies

In the last one decade, the popularity of crypto type currencies has emerged as a huge success. It was in 2009, when Bitcoin was first introduced, and years after several other types of crypto currencies have emerged. Starting from Litecoin. Dogecoin, Ripple to the Dcash and Zcash, there is a plethora of them. On the other hand, the fiat currency has a rich and ancient roots, with the Great British Pound, that dates back to 775 AD. It is considered as the oldest currency in the world that is still in use.

The differences in the anonymity between the two currencies

When you are using the fiat currencies, you need to undergo a user identification or verification process. You are asked to upload a recent picture of yourself and some of the required documents to be issued as per the public authorities. You don’t need to undergo any of the required processes with the crypto currencies. Though your personal information and confidential details don’t get public, but all your transactions are recorded and tracked in both the fiat and the crypto currencies.

Fiat currency vs crypto currency: transparency level

• The transparency level with the crypto type currencies are considered to be more. This is because the revenue streams are displayed in a public chain. Everyone can witness their own and others’ transactions.

• The fiat or govt. currencies are not transparent, as there are not public chains to see the revenue streams of the people.

A comparative historical roots

If you compare the crypto money with that of its counterpart, fiat or government currency, you will find that their existence and creation brings the difference. The Fiat or government currency, dates back its existence as early as 775 AD with the introduction of the Great British Pound. This is why fiat type currency is easily accepted by the people all over.

On the other hand, the crypto coin was perhaps first introduced only a decade ago, with the introduction of Bitcoin in 2009. The challenge that the Bitcoin and other crypto currencies face is catching up with the immense popularity and increasing fan base of the fiat currency. Crypto currency, is no doubt gaining importance and popularity in the economic market, but it has still not been accepted widely in the society as the fiat currency.

A comparative history of the two currencies:

• It was in the 11th century, when the Chinese Song dynasty was perhaps the first one to issue the paper money. It was not allowed to exchange with valuables like gold and silver or silk.

• There were Tally sticks that were introduced as a fiat or government currency. 1100 Tally sticks were introduced as a combat for the shortages in gold.

• 1971, was the year, when the fiat currency received a worldwide recognition. President Nixon introduced it in order to eliminate the dollar pegging system to gold.

• It was in 1998, when the idea of an anonymous electronic cash system emerged by Wei Dai. Bitgold-the very first crypto currency was created by Nick Szabo, but it didn’t receive as much attention as Bitcoin.

• In 2009, Bitcoin was introduced in the market, that became the first crypto currency that was accepted across the globe. In 2011 and after, a series of several other crypto currencies were introduced. Some of the popular ones include, Litecoin, Dogecoin, Ethereum, Ripple, Zcash, Dash and so on.

The traits of both the currencies

The potential of the crypto type currencies and fiat currencies, accessing their traits is important. You will find that in some of the criteria, Bitcoin and other crypto currency is superior than the fiat or government currency, and in some cases, the latter surpasses. It is absolutely your call to choose the type of currency (crypto type currency or fiat type currency) based on your personal needs and requirements.

Let us compare their traits with respect to certain factors.

• Both the crypto coins and fiat type currencies are interchangeable in nature.

• As per the portability is concerned both the currencies secure more or less the same position.

• With respect to the non consumable criteria, crypto currency and fiat type currency have the equal status.

• Crypto type currencies have high durability as compared to the fiat-currencies that have moderate level of durability.

• Both the crypto or virtual currencies and the fiat or government currencies ensure secure and safeguarded transactions and exchange.

• Crypto or digital currencies are highly divisible in nature. On the other hand, the fiat type currencies are moderately divisible.

• In terms of the transaction process, the crypto currencies are easy and hassle free. Whereas, on the other hand, the traction process associated with the fiat currencies are easy, but not like the cryptos.

• The crypto based currencies are decentralized and global in nature, unlike the fiat currencies that are centralized and functions under the laws and regulations of the government.

• The crypto based currencies have high scarcity, where as, the fiat currencies are unlimited as the government can issue coins and paper money whenever there is a need.

• The crypto based currencies are based on mathematical algorithms, and are programmable. The fiat currencies are not at all programmable.

• The fiat currencies are sovereign in nature, while the crypto currencies are not.

The process of the functioning of the currencies

You can find the significant differences between the crypto or digital currencies and the fiat currencies with the way they both operate and the transaction process that take place. They are contrasting in nature. The transfer of money using the Bitcoin is very quick, and you absolutely don’t need any third party association.

On the other hand, if you are involved with the money exchange using Fiat type currency, a mobile wallet is in use. You can exchange an amount of e-money that gets transferred into the equal e-value amount. Both the fiat and the crypto currencies enable you to purchase everything that you desire. But the processes involved are absolutely distinct from each other.

Depending on the things you purchase, you will find that one currency form is better than the other. This is absolutely your choice.

Is Bitcoin, a crypto currency better than the fiat-currency?

The long term benefits and the capability of the Bitcoins is still not established. But it has been predicted by the crypto currency gurus and experts, that they will go a long way, especially revolutionizing the way the online transactions are done. In the current market, the Bitcoin is mainly included in the online casinos and the gambling, but it is not limited to it.

Furthermore, when you compare the fiat currencies, the Bitcoin allows you to seize the power and authority from the banks and the government since it is not controlled. The cryptography based currency has the capability to create or come up with the free market capitals. Fiat currencies are affected by the inflation and the changes in the market, unlike the crypto based currencies. Such aspects make individuals believe that cryptograph based currencies will soon take over the mainstream currencies and bring a transformation in the way the money is used.

Why is Bitcoins considered to be a better aspect than the fiat type currencies?

• Bitcoin gives you the opportunity to re-create a free market capitalism.

• The power of controlling the money is absolutely with the individuals, and not with the banks like the fiat type currencies.

• When there is an inflation, the Bitcoin is not affected. But the Fiat type currency will be easier to lose and get affected by it.

• The Bitcoin currency is easy easier to exchange and transfer as compared to the fiat or government currencies.

• The transaction fees involved with the Bitcoin are way cheaper and easily affordable.

Crypto currencies seem to be a favorable option among the people

The fiat type currencies are the centralized and legal way of exchanging money. But, the crypto currencies have acquired immense popularity in the past few years. There will never be anyone who would act as a middle man, like the case with the banks. Moreover, the cryptos are way cheaper and less expensive that the conventional fiat currencies.

Send money anywhere directly without waiting for the bank’s approval

You can send money to anyone in the world directly, and it is super fast. The money gets cleared within a few minutes time. You don’t have to wait for the traditional clearing and verification processes of the banking systems, which might take up to several days to get a clearance. Since it is decentralized and doesn’t come under the law and regulations of the government, nobody has any power to do anything with your account.

The blockchain technology has a very big role to play

Thanks to the crypto currencies, that gives us the power and the authority to become our very own bank, and take control over our finances. It is because of the blockchain technology that offers a higher level of sophistication while dealing with the finances. In fact, there are some mainstream financial industries that have started incorporating the idea of the technology.