Most advisors recommend setting aside a predetermined portion of your income each month to be put towards your future. While this is certainly a sound strategy, round-ups can be a great way to catapult your savings even further. 

Keep reading to learn all about round-ups and how round-up investing works. 

How do round ups work?

Round-up apps or extensions are typically linked to your existing card as well as a pre-selected bank account. 

Say you’re purchasing a cup of coffee for $5.25. If you were using cash or just a regular debit card or credit card, you’d have 75 cents remaining in change from that transaction. 

Round-ups automatically collect that 75 cents and deposit it into a designated savings or investment account. In other words, your purchase is ‘rounded up’ to the nearest dollar and the difference is set aside as savings. It’s an incredibly easy way to save since you don’t really have to think about the money!

Many people would be quick to disregard cents as mere loose change. However, over time they can add up to considerable savings. Consider someone who goes to cash out a coin bank, only to walk away with $50 or even $100. Round-up investing is essentially an upgraded version of the same thing.

Round up savings app benefits

Round up savings apps make it easy to save and improve your finances. Whether you’re new to investing or a seasoned saver, they can be a great addition to an overall financial strategy. 

Take a look at the top benefits of round-ups. 

Low minimums

It’s easy for beginners or students to feel discouraged from investing, especially if they don’t have a ton of savings to begin with. The beauty of round-ups is that these programs allow you to start with literal pennies. It may not amount to much in a month or two, but as you continue to make use of round up investing you could be hundreds if not thousands of dollars ahead over the years. 

Automatic savings

Budgeting and savings are incredibly important components of financial health. That said, they can often feel like you’re making a sacrifice between what you want now and taking care of your future self. 

Round-ups take much of that stress off of saving since you don’t need to conscientiously set aside money. When savings are automatic, they’re able to sort of build up in the background. In fact, many personal financial advisors recommend automating various aspects of your personal finances, from bills to more mainstream saving deposits.

Complements an existing strategy

Round-ups can be a great way for beginners to get in on investing and saving. But they’re also a great complement to an existing financial strategy. Even if you’ve been following a savings plan for years, round-ups work behind the scenes to enhance your savings even more. 

How to use round ups for saving and investing

One thing about saving and investing is that results are almost never ever seen overnight. It takes patience and consistency to build your financial nest. It will be hard work, but if you’re willing to stick it out over the long haul you’re bound to see results. With rounds up investing especially, the difference is really made over months, if not years.

Round ups are only one part of a financial or investment strategy. In other words, you shouldn’t neglect your mainstream saving or investing strategy. Think of round ups as a bonus, but that doesn’t mean you should rely on them for all your financial future needs. 

It’s important to continue to follow best budgeting practices and you should still strive to save a set, larger amount each month for retirement or an emergency fund. 

Best round up investment apps

Round ups can be offered as an individual round up investment app, or as a feature on your existing finance app. Some people may decide to opt for a different company to manage their roundup investments altogether, while others may want to stick with their original bank. 

Whichever route you choose, consider these factors for choosing the best round-up investment app. 

Low fees

Many financial companies or investment accounts charge fees. Ideally, you want to work with a partner that comes with little to no fees. It’s also important that they’re transparent about any and all fees that they charge. Make sure to read the fine print before opening an account and if you don’t understand the numbers, it may not be the best fit. 

Seamless integration

Most round up features come with a seamless connection to your existing brokerage or savings account. But it’s not always a given. You don’t want your extra cash to sit in a separate account that’s difficult to access. Make sure to double-check that the round-ups feature you’re using automatically deposits your change into a set savings account. 

Ease of use

Your round up savings may not be as impactful as your mainstream accounts, but that doesn’t mean you wouldn’t benefit from a clean, easy-to-use interface. You want an app that offers simplified navigation and that allows you to review how your savings are building over time. 

Final thoughts

Round up purchases can offer a robust boost to your current financial planning strategy. They’re automatic and don’t require you to consciously set aside income. Plus, round up investment apps are generally simple to use and get started with. 

Consider MoneyLion’s Round Ups feature that allows you to earn Bitcoin or deposit your additional change to an investment account. With just a couple of clicks, you could link your use of your existing debit or credit card to collect additional savings on every purchase. 

Learn more here. 

FAQs

Solana transactions are conducted much faster than Bitcoin transactions are, and additionally, they take far less of a toll on the environment. But what else should you know about Solana? Keep reading to learn more! 

How does Solana work? 

Solana addresses several problems with Bitcoin, starting with the fact that this form of crypto operates along a proof-of-history system, which is a lot faster and far more environmentally sustainable than Bitcoin’s proof-of-work system. Essentially, Validator nodes verify every transaction and ensure that they are not only secure but also decentralized. 

From there, developers can create smart contracts and decentralized apps via Solana. Some investors believe that Solana can replace Ethereum entirely. Furthermore, Solana’s blockchain can more effectively accomplish the same capabilities as Ethereum. 

Solana has several advantages, including these three: 

• Low costs
  • Less than $0.01 per transaction
• 400-millisecond block times
  • Enables a fast and scalable blockchain
• 2,700 transactions per second
  • Far more than Ethereum’s 15 transactions per second

What is Solana used for? 

Many cryptocurrencies are speculative, meaning investors buy these assets with the hopes that more people will accumulate crypto. Cryptocurrencies with the most staying power have real-world applications. 

Solana has positioned itself as one of the top most promising cryptocurrencies, namely for its advantages over Ethereum and various other real-world applications. Let’s take a look at why Solana is attractive to developers and business owners! 

Why Solana is Appealing To Developers and Business Owners Alike

Developers and business owners use Solana for many reasons, including the following projects and objectives. 

NFTs 

The Solana blockchain lets users buy, sell, and mint NFTs. 

DeFi

Decentralized finance, or DeFi, eliminates the middleman. Additionally, DeFi imposes very minimal fees, which can be as minimal as $0.01 per transaction. 

Gaming

Developers have the option to create games with the help of Solana’s infrastructure. You can create a metaverse for your game and establish items and other elements of gameplay.

Decentralized payments

Business owners can allow their customers to conduct payments with Solana

DAOs

Individuals can have full control over their platforms and do governance together instead of relying on a central authority. 

What blockchain is Solana on? 

Solana operates along the self-titled blockchain, Solana. The blockchain supports thousands of projects, and Solana’s website dubs the blockchain as the fastest in the world. 

The blockchain makes it easy to scale and eliminates sharded chains and fragmented Layer 2 Systems. Several crypto exchanges let you buy and sell Solana. You can use one of these exchanges to start and build your Solana position.

Is Solana decentralized?

Solana is a decentralized cryptocurrency with no central authority, thereby enabling more transparency than fiat currencies along for, on average. The users make collaborative decisions about the blockchain’s direction. From there, transactions are verified via the system, and then, a central authority cannot manipulate transactions.

Solana transaction speed

Transaction speed is the bedrock for a cryptocurrency’s long-term viability. Cryptocurrencies with faster transaction speeds are more scalable. Therefore, they can accommodate more users at any given time.

The future of Solana

Solana enthusiasts see the cryptocurrency as a viable replacement for Ethereum, and for good reason. Solana uses a proof-of-history system, which processes transactions faster than Ethereum’s proof-of-work system. Solana is one of the many cryptocurrencies investors can add to their portfolios.

FAQs

Advocates claim that increased regulations could help protect investors and bring stability to a notoriously unstable asset. 

By contrast, enthusiasts often oppose regulations, claiming that regulating cryptocurrency violates the decentralized ideal behind the blockchain. 

But that doesn’t mean that the government hasn’t tried and sometimes succeeded to pass policies around crypto, which begs the question of exactly who regulates cryptocurrency? 

Institutions that have authority over cryptocurrency

Currently, no one enforcement agency regulates cryptocurrency in the United States. Instead, the burden is split among three main institutions: the SEC, CTFC, and IRS.  

Securities and Exchange Commission (SEC)

The SEC generally considers digital tokens to be investments, and as such, claims jurisdiction over cryptocurrencies for investment purposes. Their efforts primarily include protecting investors from fraudulent offerings and approving or denying applications for crypto-based investments (such as ETFs). The SEC has also filed complaints against companies like Kik and Telegram for failing to register digital tokens as investments.  

Commodity Futures Trading Commission (CFTC)

The Commodity Futures Trading Commission considers bitcoin and other cryptos to be commodities for its purposes. As such, it’s responsible for regulating interstate crypto commerce and commodity derivatives markets. 

Generally, the CFTC focuses on strengthening investor protections and monitoring crypto futures. Futures are derivative contracts that derive their value from the underlying commodity or investment. The agency also prosecutes cases involving interstate crypto fraud and manipulation. 

Internal Revenue Service (IRS)

The IRS considers cryptocurrency as property for taxation purposes, allowing the agency to tax your currency like any other assets.

Because they’re classified as property, virtual currency transactions are generally taxed as capital gains or losses. However, if you receive cryptocurrency as income, such as by mining new coins or as payment for services, you may pay income taxes instead.  

Can the government control cryptocurrency?

Because cryptocurrencies are decentralized and used for multiple purposes, it’s difficult to classify them as purely an investment, commodity, or currency. As such, several U.S. agencies regulate cryptocurrency based on how the owner uses the tokens. 

Unfortunately, this decentralization of regulatory authority makes passing and implementing overarching guidelines difficult.   

Future government cryptocurrency regulations in the US

Currently, many U.S. states, agencies, and lawmakers are pushing for greater regulation on cryptocurrencies. For instance, in November 2021, President Joe Biden signed an infrastructure bill that included new regulations for reporting crypto transactions to the IRS. 

And in March 2022, President Biden signed a new executive order designed to coordinate federal efforts in drafting new regulations to protect investors. However, it will likely take some time for any real change to occur.  

Entities that impact cryptocurrency

U.S. agencies aren’t the only ones that affect cryptocurrency. We’ll explore a few other players here.  

Small fish

In the world of crypto, small fish are individuals who don’t hold a lot of influence in the market. For instance, a college student who invests $500 would be a small fish. But because crypto also boasts some exceptionally wealthy investors, even millionaires who invest thousands of dollars may count as small fish.  

Whales

Crypto whales are people or groups whose investments have the ability to shake up the entire market. Generally, whales pump hundreds of millions of dollars into the market. Due to their sheer size, their actions can have outsize impacts on the crypto market by decreasing liquidity, increasing volatility, or both.  

Institutions

Institutions can refer to creators, banks, investment brokerages, and even individual companies. Each of these can affect the crypto market in different ways:

• Crypto creators put new coins into the market, which has the potential to shake up the status quo in favor of new investments.
• Banks and investment institutions can buy crypto for their own portfolios or help their investors get started in the market.
• Companies like Tesla, MicroStrategy, and Microsoft have snapped up crypto for their own portfolios or agreed to accept some cryptos as payment for goods or services. 

Government cryptocurrency regulations

Many governments and regulators are still struggling to decide how to regulate cryptocurrency. In the United States, that burden primarily falls on the SEC, CFTC, and IRS, among other agencies. However, due to crypto still being in its infancy, as well as its many uses and iterations, few regulations currently exist. 

Elsewhere, other governments have taken different tacks to regulate crypto. For instance, El Salvador was the first country in the world to make Bitcoin legal tender. By contrast, China banned all crypto trading and mining in 2021.  

Who regulates cryptocurrency? Everyone and no one!

The answer to the question of who is actually responsible for cryptocurrency and bitcoin regulation currently remains up in the air. While several U.S. agencies have claimed and prosecuted cryptocurrency under their jurisdiction, the future of crypto regulation remains unseen.

FAQ

This rings even more true for merchants who have to take into consideration the complex U.S. tax code as it pertains to accepting cryptocurrency as a form of payment. That being said, the relative speed of adoption for cryptocurrencies as a form of payment has seemed slow moving by many, but in actuality has been rather fast. 

For example, In the U.S.A., you can already purchase a large number of things with cryptocurrency, which was not the case 10 years ago, and countries like El Salvador have also made Bitcoin legal tender.

How do you spend crypto in real life?

Spending cryptocurrency within the crypto ecosystem is fairly simple. For example, it’s pretty easy to purchase digital assets, most notably NFTs, on the blockchain with cryptocurrency on various apps and crypto marketplaces.

It’s possible to do the same with real life items and real life marketplaces, but it requires both the vendor to accept cryptocurrency and the consumer to have a method of spending the cryptocurrency. That being said, there are multiple ways to spend crypto in real life, and many documentaries like banking on Bitcoin predict that there will be a future “cryptocurrency of the Earth.”

Popular ways to spend crypto in the real world include using a crypto debit card or prepaid card, shopping at a retailer that allows you to use crypto, using a cryptocurrency ATM to withdraw cash, loading up a gift card, and even making a donation.

How to store crypto to make purchases simple

In order to spend cryptocurrency, you first need to obtain it. There are a number of ways you can earn cryptocurrency, like mining, but the fastest way is just to purchase it with either fiat or regular money. Once you do that, you’ll need a way to store it.

Cryptocurrency debit cards

A number of crypto exchanges offer debit cards that allow you to liquidate your cryptocurrency in real time, although usually for a transaction fee. That being said, many of them have cash-back rewards programs and allow you to spend a number of different cryptocurrencies. Regardless of whether or not you decide to get a crypto debit card, you’ll still need to have a crypto wallet in order to store your tokens.

Wallets

Crypto wallets are much like real-life wallets in the fact that you need them to store your money and you wouldn’t go to the marketplace without them. The only difference is that a crypto wallet doesn’t store physical tokens, but rather digital currency in either a software wallet or a hardware wallet.

No matter which term you use to define it, this is also known as a cold wallet, and it is not connected to the internet at all times. However, the difference between these two types of crypto wallets is simple: A Hardware wallet is a physical device, many times resembling something like a USB drive that stores your crypto. They aren’t always connected to the Internet and are therefore much harder to hack.

A software wallet, also known as a hot wallet is an app or browser extension that is connected to the Internet at all times. These types of wallets integrate more easily with online marketplaces and are usually easier to liquidate, meaning they are a better option for using as it pertains to spending your crypto currency. Sometimes, crypto exchanges also have a coinciding crypto wallet product.

Crypto exchanges

A crypto exchange is a service that lets buyers convert money into crypto and vice versa. Users can sign up, deposit money or crypto into the exchange, and invest, trade, and hold coins within the exchange itself.

Crypto exchanges are often used to buy Bitcoin and Ethereum directly, for which you can then withdraw to an internal within the exchange or external crypto wallet via a standalone app, like MetaMask, or via a bank account.  

Exchanges can vary dramatically on the types of coins that you can purchase within service. Some exchanges carry only the most popular cryptocurrencies, and some exchanges carry hundreds of them. Exchanges like Coinbase are known for building on more blockchain technology, while crypto wallets like MetaMask sometimes cater to one or more specific blockchains while leaving specific ones out either as a business decision, or technological compatibility reason, temporary decision, or some other reason.

Places to spend cryptocurrency directly

Many retailers and stores have made a push to accept cryptocurrency both online and in their physical stores. Different merchants use different methods for accepting cryptocurrency, different platforms for which you can use crypto, and even different types of cryptocurrencies altogether.

Overstock

Overstock is an online retailer that operates mainly in the United States for which the majority of the items they sell are furniture. When you checkout, the site will give you the option to buy the item using Bitcoin, for which they will provide you with an address that you can send the funds directly to from your wallet or a QR code for which you can scan using your wallet.

You will have a specific time frame for which you can complete the purchase, and once you send the funds you will receive an email from Overstock confirming the purchase. All this magic is managed through the company’s partnership with CoinPayments.

Save The Children

Save the Children was the first international non-governmental organization to accept crypto back in 2013, and they accept numerous types of cryptocurrencies as a payment method which is made possible through their partnership with The Giving Block.

This is a service that makes cryptocurrency fundraising easy for nonprofits. Donations can be given by sending cryptocurrency directly to the organization’s designated wallet address by either copying and pasting the wallet or scanning a QR code.

eGifter

eGrifter is a site that allows you to buy gift cards from many different retail stores including Amazon, Adidas, Home Depot, Whole Foods, Walmart, and many more. If a retailer isn’t accepting cryptocurrency as a form of payment directly, then one workaround would be to buy a gift card that allows you to pay with crypto. 

Currently, there are about 25 cards from their catalog that allow you to purchase using Bitcoin. Some of the gift card options allow you to pay with coins like Bitcoin Cash, Ethereum, and Litecoin. The company uses either Netcents for Bitpay depending on the coin you choose to pay with.

NewEgg

NewEgg is an online retailer specializing in computer hardware and consumer electronics. NewEgg not only allows you to pay with popular cryptocurrencies like Ethereum and Bitcoin, but also accepts other alt coins such as Dogecoin and even Shiba Inu Token.

NewEgg uses bitpay to allow its customers to connect a software wallet directly on their website in order to complete the purchase. The number of different wallets they allow you to use is large and includes wallets like WalletConnect and MetaMask – but there are a few notables that are left off of the list like the crypto.com wallet.

Starbucks

Starbucks has partnered with the crypto company Bakkt, which allows traditional investment institutions to interact with digital assets via US oversight. What this partnership ultimately means is that you can load up your Starbucks card with either Bitcoin or Ethereum via the Starbucks app by selecting Bakkt when choosing a method of payment. 

In order to do so, you’ll first need to download the Bakkt app specifically and then create an account and deposit funds in order to buy crypto.

Merchants using Shopify

Shopify is an online platform that allows merchants to build, host, and manage their own products using their own Shopify website and domain name. There are thousands of retailers using Shopify to sell their products online, and many merchants allow you to use cryptocurrency as a form of payment.

Shopify also owns ShopPay, a payment gateway for making purchases through the use of a debit or credit card, however, their crypto payments are usually managed coinbase commerce.

Stores partnered with the Flexa Network 

The Flexa Network is a crypto payments network that makes it easy for merchants to accept crypto payments. They do this via their app SPEDN, which is built upon this network. 

SPEDN is the first app built out by its parent Flexa, and it allows users to fill up their account with cryptocurrency which can then be spent at select stores that have partnered with Flexa. Some of these stores include but are not limited to Barnes & Noble, Baskin Robbins, and Bed Bath & Beyond. Users should be aware that once you load your account with crypto, you won’t be able to withdraw it, so you should only send the amount of money you are willing to spend.

Payment processors that are compatible with cryptocurrency

The crypto currency space allows for unique opportunities in the payment processing space. Payment processing companies allow other companies to accept crypto as a form of payment, usually by tapping into their application programming interface (API).

Strike 

Strike is an app and API that allows you to make Bitcoin Lightning payments with a debit card or bank account. The company offers an API that other companies can use to integrate Bitcoin payments into their platform. For example, Twitter famously uses the strike API to allow its users to tip each other using Bitcoin.

The crypto payment processing company made headlines in the first week of April when it announced that the company had made Bitcoin lightning payments possible via the Shopify ecosystem. Shopify is an online platform that merchants can use to sell products on their own domain name, and was already one of the largest crypto payment gateways in the world before their partnership with Strike.

Stripe

In 2018, Stripe said it was discontinuing its Bitcoin service as it believed that Bitcoin evolved to be something more like an asset rather than a method of payment. However, in October of 2021, they decided to revisit cryptocurrency payments.

Since then, they have created an entirely new team dedicated to global payment solutions for Web3. They aim to be one of the biggest, if not the biggest, payment processors in the world for online applications including many common types of blockchain applications.

The future currency of the Earth

Payments via crypto are one step closer to becoming mainstream each and every day. Many thought leaders in the industry, including those that run famous crypto podcasts, believe that it works better as a currency than traditional fiat. And as more businesses are built to further help and support merchants accept crypto, more products will be available to be purchased via crypto.

That being said, it still isn’t a legal tender like it is in other countries like El Salvado, but we may not be far from the day where it is. The only question is if one cryptocurrency will become the future currency of the earth. Only time will tell!

FAQ

Mining crypto requires energy and resources, which has raised some concerns and begs the question–is crypto bad for the environment? Let’s dive in and explore the environmental impact of cryptocurrency and some solutions.

What is crypto?

Cryptocurrencies are tradable assets that derive value from the total supply, consumer sentiment, and other factors. Some people see crypto as long-term investments, but crypto’s purpose is to provide an alternative to fiat currency.

Crypto has a strong argument for becoming a viable, mainstream currency. Some people can’t get access to a traditional bank account. You need proper documentation, and each country is different. An aspiring crypto enthusiast only needs an internet connection to start using cryptocurrencies. 

Crypto also helps advocates avoid high fees for transfers, especially when sending money overseas. You get to skip the middleman and see every transaction on the blockchain. While crypto has many benefits, 

Environmental impact of cryptocurrency

Every digital transaction uses energy. Anything from a Visa card transaction to a Bitcoin investment requires energy, but comparisons aren’t even close. 

A single Bitcoin transaction requires more energy than almost two billion Visa transactions. Each transaction uses enough power to provide electricity to homes for a few weeks. 

Even among its crypto peers, Bitcoin is an energy-consuming juggernaut, requiring more than seven times the energy than an Ethereum transaction. Throw other cryptos in the mix and minting new coins, and the environmental impact becomes even more significant. 

Bitcoin currently uses up more electricity than most countries. We would have to plant 300 million trees to offset Bitcoin’s carbon footprint.

Energy consumption of crypto mining

Crypto transactions eat up plenty of energy, but mining practices make it worse. Some Bitcoin remains locked behind complex mathematical problems on the blockchain. Miners solve these problems with advanced computing and high tech, such as application-specific integrated circuits, hoping to get some of the remaining Bitcoin unreleased to the public.

Crypto miners don’t use a personal computer to mine crypto. Miners fill entire floors and buildings with computer systems designed to solve complex mathematical problems on the blockchain. 

The reward for solving these mathematical problems diminishes every four years. Bitcoin halves blockchain values, almost like a stock split. In 2019, Bitcoin miners received 12.5 Bitcoin for solving a complex mathematical problem. The following year, the reward got cut to 6.25 Bitcoin. If we see another halving in 2024, the reward gets lowered to 3.125 Bitcoin per solved problem. 

Each Bitcoin halving delays the moment all Bitcoins are available to the public. Until we reach that point, miners will have an incentive to invest in advanced computers and technology. Solving a complex mathematical problem yields 6.5 Bitcoins, or over $260,000. Bitcoin’s value was over $40,000 as of writing this article.

Bitcoin isn’t the only cryptocurrency. These mining practices extend to Ethereum, Dogecoin, and other crypto assets. They don’t take up as much energy as Bitcoin, but miners follow the same playbook.

Why does cryptocurrency use so much energy?

Cryptocurrencies use so much energy because of competition among miners. Increased activity leads to more computing power and higher energy transmissions. Verifying transactions also requires significant energy. Between transactions and mining, crypto consumes substantial energy.  

Could crypto mining use less energy?

Bitcoin is an extreme example of crypto energy consumption, mainly because of its proof-of-work method. This approach involves complex mathematical problems to unlock the remaining coins and verify ownership. 

Minting new coins under the proof-of-stake method is a viable alternative to the energy-consuming proof-of-work concept since the verification process requires substantially less energy. Proof-of-stake coins minimize costs and energy consumption. We can also look at NFTs for signs of better energy consumption in the future. 

Minting NFTs on Flow currently requires less energy than a Google search. They use the proof-of-stake method for minting NFTs.

Cryptocurrency’s environmental impact compared to the banking system

Cryptocurrency has attracted many critics and supporters since its early days. Many critics point to crypto’s environmental impact, but few consider the banking system’s environmental impact. 

A study from Galaxy Digital Research concluded that the traditional banking system uses twice as much energy as Bitcoin. Critics have pointed out that the traditional banking system is larger than Bitcoin, making the high energy output easier to rationalize.

Are there environmentally friendly cryptocurrencies?

Most of the environmental concerns stem from Bitcoin and Ethereum. These two popular cryptocurrencies employ proof-of-work methods that require significant energy to verify each transaction. 

Proof-of-stake cryptocurrencies are practical alternatives, with some of them generating as much energy per transaction as a Google search. Cardano, Dogecoin, and XRP are three of the many proof-of-stake cryptocurrencies. Adopting proof-of-stake cryptos instead of Bitcoin and Ethereum reduces environmental impact while preserving the benefits of crypto.

Crypto’s Future Is Green

During Bitcoin’s early days, its reliance on the proof-of-work method didn’t cause much of a stir. As Bitcoin became more mainstream and miners invested in more technology, its environmental impact became significant. 

While crypto introduced many benefits, energy usage became excessive. The shift to a proof-of-stake method requires substantially less energy, putting them in line with Visa transactions. 

Ethereum plans to shift to a proof-of-stake model in the future. If Bitcoin does the same, the crypto’s carbon footprint will substantially decrease.

FAQ

What is cryptocurrency and why should you care?

Cryptocurrency is a digital form of currency that is secured by a cryptographic system. The majority of cryptocurrencies utilize a blockchain system that decentralizes the currency. Due to this decentralized system, the popularity of cryptocurrencies comes from there being a lack of government interference or manipulation. 

Cryptocurrency has been coined as the “money of the future” since this decentralization has solved the problem many traditional currencies have faced. Many banks across the nation, and internationally, have been looking closely at cryptocurrencies and these advancements in fintech.

How many cryptocurrencies are there in the world?

Currently, there are over 18,000 currencies available. Since there is a vast amount of currencies available to trade, the total market cap of all cryptocurrencies is around $2.023 trillion. 

Moreover, in a 24-hour period, it is speculated that cryptocurrencies trading volume is around $75 billion. Cryptocurrency has dominated the fintech market and continues to do so. However, not every currency is similar, each cryptocurrency tries to provide different functionalities and features. 

Categories of cryptocurrencies

There are various categories of cryptocurrencies. We will look more in-depth on the main categories of cryptocurrencies and what unique features these currencies provide. 

Bitcoin

Bitcoin was the first cryptocurrency ever released. Invented by Satoshi Nakamoto in 2008, and then provided to the public in 2009, paved the way for cryptocurrencies. Since this coin is the first cryptocurrency, it has its own category within the cryptocurrency space. It does not fall under any other category and is only referred to as Bitcoin.

Altcoin

Altcoin is a category that refers to cryptocurrencies that are not Bitcoin. Some popular cryptocurrencies that would fall under this Ethereum and its currency Ether (ETH). These currencies share some of Bitcoin’s key qualities but differ in other ways. This includes, and is not exclusive, to the altcoins altering their production of blocks and how they validate transactions.  

Tokens

Unlike Bitcoin and Altcoin, tokens represent an asset that resides within their own blockchain. A cryptocoin, for example, is a digitized version of its underlying value of the currency. However, tokens are an asset that is oftentimes utilized to serve as a transaction unit in the blockchain. Moreover, tokens can eventually become a cryptocurrency coin. 

What’s the point of having different cryptocurrencies?

Similar to other investments, having a diversified portfolio has been proven to maximize returns. Since certain cryptocurrencies specialize in specific functions, whether that be blockchain technology or payment use, investors can use this to their advantage. 

Potential returns

By spreading your money across multiple cryptocurrencies, it helps you minimize portfolio risk and level out one’s overall performance. Since no one can predict systematic risks, like an economic downturn, it is important to invest in both currencies that move parallel to the market as well as against. Similarly to stocks and other assets, it is important to hedge against these risks across different sectors and, in this case, in different cryptocurrencies. 

Innovation

Since cryptocurrency is the heart of the fintech industry, it is constantly improving. These developers have created a safer blockchain system, figured out ways to reduce fraud, and other factors to improve the safety of the overall cryptocurrency. 

Moreover, each currency provides a unique form of innovation. Certain coins prioritize the safety of their consumers and have specific insurance policies set in place, whereas others do not prioritize these safety measures. This is one of the main reasons why it is important to diversify your crypto portfolio. 

Forking

Forking exemplifies how the crypto sector is continuously evolving and progressing. Forking takes place within a blockchain when groups of miners and developers cannot make an agreement on new updates within the networks. 

When this happens, these developers and miners take two separate paths forward. This leads to new, and often better, variations of the cryptocurrency. Forking showcases how having multiple types of crypto can help drive the creation and successful coins.

8 popular cryptocurrencies

After hearing about the different types of cryptocurrencies, let’s see the top 8 most popular cryptocurrencies.

Bitcoin (BTC)

This decentralized financial asset runs off a blockchain system. Since it is the original cryptocurrency, Bitcoin created the idea of blockchain mining. Blockchain mining is done by solving complex cryptographic mathematical problems in order to validate the block transaction within the blockchain. 

Since each transaction is connected to a block, there is no way for an entity to alter this information within the network making this technology very trustworthy. Moreover, since Bitcoin runs off of blockchain technology it is a decentralized system so there is no government interference. 

Another unique feature of Bitcoin is that there is a hard cap on the coin’s supply. Due to this, the coin has been able to maintain its overall value throughout the market space. Last but not least, due to the coin’s popularity it has been able to integrate into the majority of financial spaces. More companies have accepted Bitcoin as a form of payment due to its high value. 

Key Features:

• Blockchain technology 
• Decentralization, meaning no government interference
• Immutable, meaning unable to change block information
• Hard cap supply
• Popularity 

Bitcoin Cash (BCH)

Bitcoin Cash is a type of currency that validates transactions quickly within the Bitcoin network. Due to this, one is able to cut down processing times as well as save money from having to pay processing fees. 

As of now, one BCH now costs less than a penny and is able to process over 200 transactions within a second. Overall, BCH network is able to handle a larger amount of transactions per second in comparison to the Bitcoin network.

It is speculated that the rise of Bitcoin Cash is inevitable due to these unique qualities. Moreover, it is projected its future value to be more than $800, which it surpassed back in May 2021.

Key Features:

• Functions within the Bitcoin network and blockchain
• Can handle more than 200 transactions per second
• Cuts down processing time
• Saves investors money on transaction fees

Litecoin (LTC)

Produced as a fork from Bitcoin’s blockchain, Litecoin has many similarities to Bitcoin. However, Litecoin does not have a hard supply cap allowing it to be more accessible to investors. 

It is speculated that there is currently around $84 billion worth of Litecoin currently in the crypto market. Moreover, Litecoin uses a Scrypt algorithm making it a safer system than other alternatives. Additionally, one can use other cryptocurrencies to purchase Litecoin, providing flexibility for investors. 

Key Features:

• Can handle large transaction volumes in blockchain technology
• Safer mining system thanks to the Scrypt algorithm
• Oldest altcoin since it was produced as a fork from Bitcoin
• No hard supply cap
• Flexibility in payment

Ether (ETH)

Ether is a cryptocurrency produced by the Ethereum network. The Ethereum network is a peer-to-peer platform in which participants can complete transactions with each other. Since this is a peer-to-peer platform, it facilities smart contracts through a decentralized system. Moreover, this cryptocurrency is the second-largest digital currency in 2021 due to its market capitalization. 

Key Features:

• Fuel of Ethereum network 
• Second largest cryptocurrency 
• Uses blockchain technology to replace consumer data storage 
• Moved to a proof-of-stake (PoS) system

Ripple (XRP)

Ripple’s digital currency, XRP, acts as a bridge between other currencies. This includes both fiat and other cryptocurrencies. This network is blockchain-based, though it utilizes a different form of transaction confirmation than blockchain mining. 

Ripple uses a third-party system of bank-owned servers to confirm these transactions instead. Additionally, Ripple is known to use less energy than Bitcoin transactions, which contributes to its high transaction fees. 

Key Features:

• Blockchain system with no blockchain mining 
• Bridge between other cryptocurrencies and fiat currencies 
• Uses less energy 
• High transaction cost

Tether (USDT)

Tether is a blockchain based cryptocurrency that is a stablecoin. The majority of cryptocurrencies have been known to be highly volatile, however, Tether aims to have a stable crypto value for long term investors. They do this by being a fiat-collateralized stablecoin and are pegged to the U.S. dollar. However, it cannot be exchanged for USD. 

Key Features:

• Blockchain-based 
• Stablecoin pegged to US dollar 
• Best for investors who want low volatility

Binance Coin (BNB)

Although initially on the Ethereum network, the Binance Coin now functions on the Binance network and has its own blockchain. This coin was initially created to supplement discounted trading fees in 2017.

However, it has now expanded to include other transaction fees. Moreover, it includes travel bookings, entertainment, and some financial services. In order to protect the value of Binance Coin every quarter Binance burns one-fifth of its coins. 

Key Features:

• Functions on Binance network and blockchain 
• Burns one-fifth of its coins on a quarterly basis to maintain the value 
• Can be used for financial services, trading fees, and other transactions

Terra (LUNA)

Terra is also an open-source blockchain platform specifically designed for stablecoins. Specifically designed for the network’s system and mining, Luna is Terra’s staking token. 

Luna essentially mitigates any high volatility within Terra’s network of stablecoins. Luna is staked and used within Terra’s blockchain miners who validate these transactions. Moreover, as the platform of Terra expands, Luna’s price and value increases as well. 

Key Features:

• Essential in Terra’s blockchain validation 
• Price increases while Terra’s platform usage increases
• Absorbs volatility from other stablecoins

How to invest in different types of crypto

Investing in different types of cryptocurrencies is a great way to diversify your portfolio and mitigate risk. One can look to invest in different types of cryptocurrencies from online trading platforms. 

This can span from trading websites specifically made for cryptocurrencies while other platforms, which have a broader range of assets, also include a small selection. Cryptocurrency is the future of money and a great investment. Start investing in cryptocurrency now and see all the benefits one can reap from it. 

FAQ

What is cryptocurrency?

Cryptocurrencies are decentralized digital currencies that use the blockchain to verify transactions. Bitcoin is the most established cryptocurrency, with Ethereum as a close second. 

Advantages and disadvantages of crypto

Crypto has been around for over a decade but is still in the early stages. We have highlighted the advantages and disadvantages of crypto below.

Advantages

• Appreciation potential: Cryptocurrencies can provide significant returns, unlike cash. Bitcoin traded at under $1,000 per coin in the first quarter of 2017. The crypto asset has skyrocketed to over $40,000 per coin. 
• Fixed supply: Inflation is a major concern. We got to this point partly because the Fed significantly increased the money supply during the pandemic. Now, they have to tighten the money supply, causing interest rates to rise. Crypto’s fixed supply and decentralized nature protect it from this type of tinkering. Some people view Bitcoin as an inflation hedge.
• Decentralized: The government can’t freeze your account. You are the only one who oversees your crypto holdings.
• Avoid middleman fees: Transferring overseas gets expensive. Crypto transfers help you escape these fees while providing money to those who need it. Cryptocurrencies aim to become universal currencies you can use anywhere instead of exchanging your cash at undesirable foreign exchange rates at the airport.

Disadvantages

• The potential for losses: Bitcoin surged from $1,000 per coin to over $40,000 per coin in the past five years. However, the crypto asset has an all-time high of over $67,000 per coin. If you bought in 2017, you made some nice gains. People who bought at the high have lost money.
• Volatility: Bitcoin’s price does not stay constant. It may rise or fall 5% in a single day. World news and other uncontrollable factors influence crypto prices. 
• No government oversight: Crypto’s decentralized nature has many perks, but no government oversight also presents disadvantages. Your crypto holdings are not FDIC insured. If a hacker steals your funds, they’re gone. You can take protective measures to reduce the likelihood of this scenario, but this risk is significant for any crypto holder.
• Not every merchant accepts crypto: More companies have opened up to crypto, but the majority still don’t accept it as a form of payment. The path to widespread acceptance is more difficult for altcoins. 

What is traditional currency?

A government backs a traditional currency. Merchants accept these currencies as payment for a good or service. 

Advantages and disadvantages of cash

People have bartered with each other since the beginning of time. Cash has given us a universally accepted method to exchange goods and services. Merchants set the prices, and consumers decide if they want to pay that price. We have highlighted the advantages and disadvantages of cash below.

Advantages

• Government-backed protection: The U.S. government insures the first $250,000 in your bank account. If a hacker steals funds or the bank fails, your money is protected. Make sure a bank is FDIC-insured before creating an account and depositing funds.
• Widely accepted by merchants: You don’t have to worry about a merchant rejecting the domestic currency. If you are in the U.S., your dollar can help with any transaction.   
• Many fiat currencies have stable prices: Cash holders don’t have to worry about significant price fluctuations. A loaf of bread won’t cost 20% more or less, depending on how the U.S. dollar moved in the past week.
• Fraud protection: Many governments have protocols in place to protect people from fraud. You can file a report of fraudulent activity on your credit card and get off the hook. Crypto does not provide consumers with this option.

Disadvantages

• Reliance on governments: Not every government is economically stable or acts in its citizens’ best interests. Some fiat currencies are volatile, and the government can limit what you can do with the currency. Your account could get frozen.
• Cash is guaranteed to lose value: Inflation decreases the purchasing power of your liquid cash each year. While this phenomenon always takes place, it’s gained more attention as we find ourselves with the highest inflation in 40 years.  
• Higher fees: Between the bank and foreign exchange rates, fiat currency holders pay higher fees than crypto enthusiasts. 
• Centralized intervention: The government can increase or tighten the money supply at will. These measures impact your money’s purchasing power and interest rates. You can get caught up at a bad stage of the cycle. When the Fed tightens the money supply, housing prices fall, and interest rates rise.  

Understanding crypto vs. cash

We have highlighted the pros and cons of both assets. We have provided additional context below to help you understand the state of crypto vs. cash.

Anonymity 

Crypto and paper cash let you remain anonymous on every transaction. Some people are more concerned about their privacy and don’t want big tech following them. Both currencies let you remain anonymous, but you lose your privacy with purchases done through a debit or credit card.

Regulations

The government can garnish or freeze your fiat currency accounts. Suddenly losing access to funds is stressful. You don’t have to worry about these types of regulations for cryptocurrencies. No centralized authority can touch your holdings.

Fees 

Cryptocurrencies have lower fees than traditional banks. These lower fees become more significant for people transferring their money overseas. 

Fraud

Since crypto is a digital asset on the blockchain, it can’t get duplicated or be fraudulent. Counterfeit fiat currency looks real on the surface. Some people use counterfeit money to pay for goods and services, causing it to circulate across the economy. The risk is small but always present for fiat currencies. Crypto holders do not have to worry about this risk.

Financial inclusion

Traditional banks have several requirements to open a new account, such as government-issued documents and a social security number. You don’t need any of those documents to open up a digital wallet and buy crypto. You only need an internet connection to get into crypto and access your funds.

Security

Cryptocurrencies and cash each have security risks. Hackers can enter your accounts and use your funds to their desire. Cryptocurrencies and paper cash are almost impossible to track and recoup your losses. Debit and credit cards offer better protection that can help you recoup losses.

Transaction speed

Cryptocurrency transactions are faster than cash transactions at traditional banks. Transfers to overseas accounts can happen quickly with crypto, but it can take a while for fiat currencies to arrive.

Diversification

A diverse portfolio mitigates risks and helps investors achieve higher returns. Investors can choose from many crypto holdings and currencies to spread their exposure across many assets.

Should you get crypto or cash? 

Cryptocurrencies and fiat currencies offer several advantages. Neither of these currencies is perfect, but having both gives you the best of both worlds. Consumers should diversify their portfolios based on their risk tolerances.

FAQ

Bitcoin Cash (BCH) is a peer-to-peer network that uses blockchain technology to process and store digital transactions. This digital currency shares similarities with Bitcoin (BTC) and improves upon the speed and cost of transactions. In this article, we’ll explain how Bitcoin Cash works and discuss its features, pros, and cons.

How does Bitcoin Cash work?

This cryptocurrency was created in order to overcome the problems of slow and expensive transactions in the Bitcoin network. Technically, Bitcoin Cash works in a very similar way to Bitcoin. They both use peer-to-peer blockchain networks and require proof of work consensus for mining new coins and verifying transactions, which makes the process secure from hackers.

In cryptocurrencies, transactions are linked together on a “block” that offers a publicly verifiable ledger of activity on the blockchain. Bitcoin Cash uses a larger block size to transact. A larger block size means that more transactions can be created on a blockchain. To compare BCH vs BTC, Bitcoin can only handle up to seven transactions in a second, while Bitcoin Cash can manage up to 200 transactions or more per second. This allows for reduced transaction costs and improved speed for quicker purchases.

How does Bitcoin Cash work?

This cryptocurrency was created in order to overcome the problems of slow and expensive transactions in the Bitcoin network. Technically, Bitcoin Cash works in a very similar way to Bitcoin. They both use peer-to-peer blockchain networks and require proof of work consensus for mining new coins and verifying transactions, which makes the process secure from hackers. In cryptocurrencies, transactions are linked together on a “block” that offers a publicly verifiable ledger of activity on the blockchain. Bitcoin Cash uses a larger block size to transact. A larger block size means that more transactions can be created on a blockchain.

To compare BCH vs BTC, Bitcoin can only handle up to seven transactions in a second, while Bitcoin Cash can manage up to 200 transactions or more per second. This allows for reduced transaction costs and improved speed for quicker purchases.

What is Bitcoin Cash used for?

Bitcoin Cash is designed for use as an electronic payment system. Since transactions can be processed faster than with Bitcoin, Bitcoin Cash is designed for spending. The transaction costs for Bitcoin Cash are also lower.

Does Bitcoin have smart contract support?

Until recently, Bitcoin offered no smart contract support to enable more types of transactions between individuals. In November 2021, Bitcoin introduced Taproot¹. With this upgrade, Bitcoin users can now execute complex smart contracts in much the same way as they do with Ethereum.

Why do Bitcoin Cash addresses look different than Bitcoin addresses?

In the beginning, Bitcoin Cash used the same addresses as Bitcoin. Developers quickly learned that the address format confused users. To overcome the problem, developers changed the Bitcoin Cash addresses to a format called CashAddr. The new format changes how the address is displayed, but the underlying public and private keys remain the same.

What is the difference between Bitcoin and Bitcoin Cash?

Though Bitcoin and Bitcoin Cash share a number of similarities, there are also many notable differences between them.

• Maximum block size — Bitcoin Cash has 32MB maximum block sizes versus Bitcoin’s blocks at 1MB. Bigger block size means faster throughput time and faster transactions.
• Cheaper transfer fees — Bitcoin Cash has lower transaction costs.
• Price – Bitcoin Cash is not as expensive as Bitcoin.

Bitcoin Cash factors to consider

Bitcoin Cash works on a decentralized peer-to-peer system and there is no centralized authority pulling the strings. Below, we’ve listed the main features to consider for Bitcoin Cash.

Secure

The Bitcoin Cash network is considered secure. Bitcoin Cash uses blockchain technology to record and store transactions. Miners add new blocks to the blockchain by competing to solve complex mathematical puzzles that, when solved, confirm transactions.

Fixed supply

The supply of Bitcoin Cash is capped at 21 million coins, the same as Bitcoin. The cap on numbers ensures that the currencies remain scarce and could potentially provide a hedge against inflation.

Ease of access

Like Bitcoin, to send or receive Bitcoin Cash, all you need is access to a smartphone or computer. Even those without a bank account or credit card can transact using Bitcoin. You can store digital currency in an electronic “wallet.”

Transparent

Every transaction goes onto a public ledger. This means that anyone can access the information, which may discourage fraud.

Low-cost transaction costs across the globe

Bitcoin Cash transaction costs are relatively low. This is an attractive feature, especially for international transactions. Bitcoin Cash can be an inexpensive alternative to credit cards, where merchants pay a higher fee and often pass it to consumers.

Advantages of Bitcoin Cash

There are many reasons to consider using Bitcoin Cash. We’ve listed some of the benefits below:

● Bitcoin Cash is faster and cheaper to transact with than Bitcoin.
● You do not need a bank account to use Bitcoin Cash.
● It can be easier and cheaper to make international transactions.
● Bitcoin Cash uses blockchain technology which is considered secure.

Disadvantages of Bitcoin Cash

It pays to know the disadvantages of any financial asset and Bitcoin Cash is no different. We’ve listed them below:

● The public has been slow to adopt Bitcoin Cash and it may not be as widely known, especially in comparison to Bitcoin.
● You are responsible for storing your own Bitcoin Cash in a secure wallet. If not done properly, Bitcoin Cash can be irretrievably lost or stolen.
● Bitcoin Cash is volatile and often has fairly large fluctuations in value.
● There is no buyer protection. If you buy goods using Bitcoin Cash and the supplier fails to deliver, you can’t reverse the transaction.

Use your spare change to access crypto

Interested in getting involved with crypto? MoneyLion Crypto makes it easy to buy and sell digital currencies. You can also access a feature that will allow you to Round Up your purchases and use that spare change to buy Bitcoin. Sign up now to buy and sell cryptocurrencies.

MoneyLion solutions are built to help people at different stages of their financial lives

With over 14 years of experience in the financial services industry, Mike Doniger has a keen understanding of MoneyLion’s demographic and how they’re based on the company’s broad selection of solutions. “Our main goal is to provide [financial] access, education, and tools to people who are at different points in their financial journey, whether it’s times of excess or times of need. We have people who need to bridge the gap to their next paycheck, and we also have people who are looking to get ahead in their financial lives by building their savings with their investments. Half or more of our members are first-time investors, so we’re helping them get started on their path for building for the future.”

Mike then went on to discuss MoneyLion’s fully-managed portfolios and how they make investing simple for people who want to start with as little as $5. “Our fully-managed portfolios [through Wilshire] work the same way for someone with $5 to invest as they would for someone with $50,000 to invest… So we’re delivering a high-quality offering for our members without some of the friction points they may run into at a traditional wealth management firm or with advisors.”

How MoneyLion compares to traditional financial institutions and advisors 

It’s no secret that there is a huge segment of the American population that is underserved by traditional financial institutions and advisors. Millions of people want to get into crypto or investing, and they just need the right set of tools to do it. They’re looking for educational content and guidance that’s missing from some digital providers. That’s where MoneyLion comes in. Mike said, “One of the things we’re focused on is getting people content and motivating them on their journey for investing specifically. Whether they’re new to investing or have invested previously.”

While elaborating on MoneyLion’s commitment to helping members learn about crypto, Mike said, “MoneyLion’s mission is all about giving [financial] access and education, so at the end of last year, we launched new crypto capabilities that allow members to invest in Bitcoin and Ethereum. We wanted to help people get into the crypto space with some of the larger, more popular forms of cryptocurrency, and we’re taking a measured approach in terms of the additional cryptocurrencies we offer on our platform. We want our members to enter the space responsibly.”

One of the key differences between MoneyLion and other financial companies that offer investing and crypto products: They allow members to Round Up their spare change from qualified purchases into cryptocurrencies. For now, they offer Round Ups into Bitcoin or a managed investment account, and this handy feature helps members “build their [financial] position in a way that is automated but also behind the scenes so members can start as small as they want. Round Ups helps create good savings habits.”

Even better, MoneyLion just started allowing members to use any credit or debit card to Round Up. So they’re not limited to a specific card or bank account. Members can use any of their cards, and this opens the door for more people to take advantage of this unique feature and opportunity. As more people join MoneyLion to use these exciting tools, there’s going to be a higher demand for introductory crypto and investing content, and MoneyLion has a strategic educational strategy in place.

Educational content is going to take on a bigger role at MoneyLion

Everything MoneyLion does is geared toward education and giving access to financial opportunities. MoneyLion has a blog with a ton of content called MoneyLife, and they have short-form content in the app through MoneyLion Academy that not only explores the basics of crypto and specific currencies but also different concepts to consider when purchasing crypto or investing more broadly. 

When asked about the future of MoneyLion content, Mike said, “In general, content is going to become a bigger part of MoneyLion and not just related to investing. We want people to consume content with not just financial topics but also lifestyle. This content will be from influencers, news — anything to keep people informed and motivated on their journey. We’re going to offer different channels, mediums, etc. so it won’t just be blog articles. It will be educational videos, different series, and we’re going to use data to deliver the right content to the right people at the right time. So we’ll provide members with guidance and advice they may get from a traditional advisor normally, but we’re going to give it contextually as part of the experience.”  

Listen to Mike’s On Purpose podcast interview today

Missed the On Purpose podcast? No problem. Listen to it for free today. And keep your eyes peeled for more podcasts with members from the MoneyLion team! 

Let’s face it. Building a portfolio and building wealth tends to be a slow, long-term project that happens over years — not over days and weeks. Having the discipline to contribute to an investment portfolio regularly over time is one of your most important jobs as an investor, but it sure can be a challenge. That’s where Round Ups come in.

Here’s how it works

Let’s say you use your debit card to pick up a morning coffee that costs $2.50. When you activate Round Ups, the transaction gets rounded up to $3 and the extra $.50 goes into your MoneyLion Investment Account. With Round Ups, this happens automatically every time you make a qualifying purchase. Keep reading for tips on how you can make Round Ups work for you at MoneyLion — using any credit or debit card.

Why you should Round Up

One of the biggest hurdles to investing can be our own behavior. The natural tendency to procrastinate or overreact to market movements and headlines can do significant harm to portfolios over time. There are three ways Round Ups can help investors stay disciplined and consistent over time:

1. Automating contributions helps you stay invested, even in challenging times.

The past two years, which experienced the COVID-19 pandemic market crash and recession, have been a great example of this. In hindsight, the market pullback was brief and the S&P 500 ended the year with a strong 18% total return. In 2021, the stock market provided investors with another 18% gain [as of 7/14/2021] despite significant uncertainty along the way. Those who stayed invested despite scary headlines and day-to-day swings avoided selling when prices were down.

Chart: Total annual return of S&P 500 compared to the biggest decline that year

Note that, for the past 30 years, even when downward swings have been large, in most years the S&P has ended in positive territory. Be aware that past performance is no guarantee of future results. Sources: Clearnomics, Standard & Poor’s [as of July 14, 2021].

2. Round Ups are a great way to take the emotions out of investing.

Round Ups lets you invest frequently and consistently without having to consider the price of an investment. Regularly investing can be one of the biggest factors of investment success over time. This approach is completely opposite of what you typically hear other people talk about – buying investments, like stock, by timing the market. This is a bad approach because NO ONE can predict the markets, and because of human nature, you’ll likely make some bad investment decisions (instead of buying low and selling high, you’ll likely end up doing the opposite). Round Ups can help you remove the guesswork by investing consistently over time, with the understanding that sometimes when you buy prices will be higher but other times prices will be lower.

Are Round Ups right for you?

Discover MoneyLion Round Ups — and start rounding up with every swipe. At MoneyLion, you can use Round Ups with any credit or debit card two ways to save for a rainy day with a MoneyLion Investment Account. Round up everyday purchases to set aside a little extra for your life goals, dream vacay, house down payment, or whatever matters most to you.

Crypto Round Ups

If you are cryptocurious, Round Ups is also available with a MoneyLion Crypto Account powered by Zero Hash. Round up your spare change to purchase Bitcoin. Start small and build with confidence over time.