Learning the friendly way

Building wealth doesn't have to wait until you're settled down and "old". In fact, the sooner you start the better. Whether you want to buy a house one day, or start saving for retirement, starting to generate wealth earlier on will help you achieve these goals sooner.

Your 20’s & 30’s pose an excellent opportunity to build wealth as these years allow you to learn from your mistakes and take risks with a minimal downside (far fewer than if you started this process when you've got a family to support or an upcoming retirement).

There are two important notions to remember: this is not a get-rich-quick scheme, nor does it need to be complicated. Building wealth is more about setting yourself up on the fast but responsible track to wealth in later years.

8 Tips on how to build wealth

Below are 8 tips on how to stay on the straight and narrow when it comes to generating wealth.

1. Create a living expenses budget and stick to it

It might not sound glamorous, but budgeting and saving money is not as bad as you think. Creating a budget for your living expenses (and sticking to it) is one of the surest ways to grow your money in the long term. Explore options like the 50/30/20 rule or 70/20/20 rule to establish what to spend on needs, wants, and savings each month and provide frameworks that allow you to save more money.

Living on a budget doesn't mean skimping on luxuries, it simply means managing spending money on luxuries and not overspending. It also trains us not to live paycheck to paycheck and instead determine exactly what we are spending our money on and ultimately save more money for the things we want to do in life (like buy a house or build a healthy retirement fund).

Financial independence takes work but is not entirely out of reach for anyone. One needs to start building a financial plan today in order to accumulate wealth further down the line.

2. Start eradicating your debt (from credit card debt to student loan debt)

Prioritise paying off your debt and living within your means in order to build your personal capital. Of course, sometimes debt is unavoidable, but bouncing back is imperative to building wealth down the line. Consider saving up to pay off your debt before using those savings for investments.

The 20/10 rule stipulates that you use a maximum of 20% of your annual net income on consumer debt, while each month you use no more than 10% of your net monthly income to pay off this debt. Ideally, stay away from consumer debt entirely and prioritize paying off anything you owe so that you can have more money in the long run.

3. Explore the working world

Your 20s are a great time to try new things in the job world. Explore new opportunities and build your experiences to grow your earning potential down the line. Consider each new job experience an opportunity to grow your skill set and increase your earning potential as you ascend the corporate jungle gym.

While a job might not pay more money, the experience it gives you can leverage your next job and result in greater financial success. It also might help you find money-minded friends, a great benefit to have when building wealth and personal capital.

4. Increase your income streams and make more money

While you're gaining experience in the working world consider building multiple income streams through side hustles, your own business or freelance gigs. Not only will this too contribute to a wider skill set, but will also create additional income streams which can be used for investments or holidays. You can build wealth while enjoying life, and additional income streams are the surefire way to do this and achieve financial freedom.

5. Educate yourself on finances

You're more likely to grow financially if you understand finances. Never underestimate the power of being financially literate and having the right money mindset. Use your twenties to read books, articles, and blogs to gain both knowledge and street-smartness to help you navigate your journey to financial freedom.

6. Investing

First, and as a continuation of the point above, do your own research before investing in any asset class. Investing from an early age can have ample benefits (read up on compound interest for one), but doing so without understanding how investments work can have dire consequences. Educate yourself or consult a professional, and start small. You don't need a huge amount of capital to get started.

7. Build an emergency fund

An emergency fund is 3-6 months' worth of living expenses and is a major contributor to financial wellness and laying the right financial foundation for later in life. Emergencies in life are inevitable, whether it be a medical emergency, a family crisis, or a car or house emergency, and an emergency fund is a surefire way of avoiding financial ruin as a result.

Learn more about building an emergency fund in our 7 simple steps to start (and build) your emergency fund article.

8. Get started with your retirement fund

It might not sound sexy, but starting to save for your retirement in your 20s is ideal. Starting to save for retirement when it's right around the corner isn't advised, so why not start now so that it can grow into something substantial by that time? Imagine what two to three decades of retirement savings might look like, compared to a few years.

As always, do your research and start small. You might even find that you can retire much earlier than expected. This is the number one mistake that young people make today.

In Conclusion

There's no time like the present to start considering your financial situation and what you can do now to make it prosper in the years to come. Avoid get-rich-quick schemes and use the time to take educated risks, the earlier you start working on your growing wealth journey, the better.

Even if you're not earning a lot, be diligent and consistent and you will see results. Start building these habits now and you will reap the rewards along the way.

Disclaimer: This article is intended for communication purposes only, you should not consider any such information, opinions, or other material as financial advice.

Shiba Inu (SHIB) and Dogecoin (DOGE) are both dog-themed meme tokens, and ironically both hold a place in the top 15 biggest cryptocurrencies by market cap. Typically, meme tokens don't hold considerable value in terms of utility within the crypto space. However, financial experts have noted that as the approach toward meme tokens has shifted, these two projects have achieved noteworthy growth and success. But who comes out on top in this crypto dogfight spurred by internet memes?

Exploring Dogecoin (DOGE)

Dogecoin calmly entered the crypto scene in 2013 as a joke, based on a Shiba Inu meme that was circulating at the time (a Japanese dog breed). Developed by Billy Marcus and Jackson Palmer, the peer-to-peer cryptocurrency was allegedly created to poke fun at crypto enthusiasts who had limited understanding of the field. The coin quickly grew a mass following but did little to prove its value in the space. 

However, in 2021 Dogecoin's popularity exploded thanks to social media and the support of Tesla CEO, Elon Musk. After claiming it to be his favourite coin on Twitter, even naming himself the Dogefather, Musk caused a wild increase in the DOGE price, hype, and far-spread interest (as well as speculation).

Dogecoin provides a fast medium of exchange and is used predominately as money for tipping content creators across various platforms and crowdfunding. Ultimately, Dogecoin has a reputation for being an accessible asset in the market.

Exploring Shiba Inu (SHIB)

Bursting on the scene in 2020, Shiba Inu positioned itself as an Ethereum-based rival to the original meme token. The project provides several use cases such as a decentralized exchange, an art incubator and hosts to other tokens (one of which was initially called Doge Killer). 

The platform was created by an anonymous entity, much like Bitcoin, that goes by the name of Ryoshi. After launching, Ryoshi donated 50% of the total SHIB supply to Vitalik Buterin, and whether this was meant to be a publicity stunt or not it certainly received a lot of attention. Buterin went on to donate 10% of his SHIB to a Covid relief fund in India and burned the remaining amount. 

In October 2021 following a possible Robinhood listing the SHIB price soared and for the first time overtook Dogecoin in value. Once the selling spree calmed down the price corrected.‍

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How is Shiba Inu connected to Dogecoin?

While we outline the specifics of their similarities in the article below, the answer to this question is that there is no link between the two. Each network is built on its own platform (Shiba Inu using Ethereum as a base) and are not intertwined nor compatible. They are essentially competitors in the crypto space, each providing a platform and use cases separate from one another.
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Dogecoin vs Shiba Inu Similarities

While the obvious similarity in this article is that these coins are both meme-based, there are two other core similarities that these coins share that is seen less frequently in the crypto space. 

Consensus Model

Both cryptocurrencies currently use a Proof-of-Work consensus algorithm, requiring miners to solve computational problems the fastest in order to validate transactions. Dogecoin is hard forked off the Litecoin network while Shiba Inu is built on top of Ethereum's blockchain. However, in the coming months, this will change as Ethereum moves toward a Proof-of-Stake consensus. 

Strong Social Media Presence And Followings

Both these coins have active and loyal followings and have done well to build such strong communities. Both provide easy entry points into the market, an excellent way of diversifying one's portfolio with their low costs. Both coins also played a role in bringing crypto to the mainstream in a "fun" light, with their active community members to thank. 

Elon Musk

As a bonus similarity, both these meme tokens have greatly benefited from the actions of Elon Musk. While he is a strong fan of Dogecoin, he recently sent the price of Shiba Inu soaring after posting a picture of his Shiba Inu puppy. In part, this contributed to the SHIB price reaching its all-time high.‍

Dogecoin vs Shiba Inu Differences

Of course, while they're both wildly popular and among the biggest cryptocurrencies based on market cap, they too have differences.

Token Type

While Dogecoin was built on its own blockchain, Shiba Inu was created on Ethereum as an ERC-20 token. This increases the tokens versability as it is compatible with all ERC-20 functions, such as wallets, smart contracts, decentralized exchanges, market places and more. 

Tokenomics

An important aspect to look at, these two differ substantially. Dogecoin was created to have an infinite supply with a total of 5 billion new DOGE entering the market each year. Due to its fixed reward rate, the coin's inflation rates are expected to decrease over time making it deflationary in the long term. 

Shiba Inu, however, has a fixed supply of 1 quadrillion SHIB with around 549 trillion SHIB currently in circulation. The project has also implemented a burning mechanism into its operations, burning small portions of SHIB each time the cryptocurrency is purchased (via the transaction fee). As more coins are purchased the burning mechanism will decrease the supply, making the coin scarcer and increasing value. 

Utility

Dogecoin is a peer to peer payment system providing a medium of exchange. Shiba Inu on the other hand can be used in smart contracts and DeFi products. The project also provides a decentralized exchange called Shibaswap, as well as two other tokens, LEASH and BONE. On top of that, the platform also offers users access to liquidity pools and staking services. 

The Dog Fight Continues

As mentioned above both these coins have impressive communities behind them and have their own use cases. With many people asking where do experts predict Shiba Inu will go next and how high can Dogecoin go, the truth is that no one can say for certain. Each investor can decide for themselves which is better suited to their trading needs and enter the market accordingly. If you'd like to onboard Dogecoin or Shiba Inu you can do so securely and conveniently through the Tap app today. 

Father's Day is a special occasion to celebrate and appreciate the fathers and father figures in our lives. Whether you're looking to surprise your dad with a token of gratitude or spend some memorable moments with him, you don't need to break the bank. Here are some budget-friendly and heartwarming ideas for celebrating Father's Day.

Compile a memory book

Gather pictures, letters, and mementos of treasured moments your dad has experienced with family and friends. Create a scrapbook, memory box, or a digital album that he can cherish as a reminder of the meaningful bonds he's built over the years.‍

Organise a DIY car wash and detailing session

If your dad takes pride in his ride, gather the family and spend a day washing and detailing his car. It's a great way to show appreciation and leaves him with a spotless ride. You can even consider upgrading his car instrument gadgets, like a new air freshener or car mats, as an added gift.

Plan a sports day with his favourite activities

Get everyone together for a day of sports, featuring your dad's favourite activities. It could include a friendly game of basketball, soccer, or even a round of golf. Spending quality time outdoors while engaging in friendly competition can make for an unforgettable Father's Day.‍

Plan a DIY workshop or project day

If your dad enjoys DIY projects or woodworking, plan a day where you can work on a project together. From fixing up an old piece of furniture to creating something new for the home, collaborating on a hands-on venture will not only strengthen your bond but also result in a memorable keepsake.‍

Organise a Dad Olympics

Rally the whole family for a Dad Olympics, featuring a series of fun, dad-inspired challenges and competitions. Design events like "Mower Racing," "Best Dad Jokes," or "Barbecue Master." Award the champion his very own Dad Olympics trophy or medal.

Volunteer together

Bond with your dad while contributing to your community by volunteering together. Find a cause that resonates with him, like serving meals at a local soup kitchen, helping out at an animal shelter, or participating in a neighbourhood clean-up initiative.‍

Create a personalised video or slideshow

Gather family members and friends to record short video messages expressing their love and appreciation for your dad. Compile these clips, along with photos and memorable moments from the past, into a heartwarming slideshow or video montage he can enjoy and cherish as a special keepsake.

‍Father's Day surprise multi-course meal

Give your dad a relaxed and delicious dining experience with a home-cooked, multi-course meal specially crafted to include his favourite dishes. To elevate the experience, plan and prepare an appetiser, main course, and dessert that perfectly reflects his culinary preferences. 

Decorate the dining area with simple yet thoughtful touches, such as candles, custom place settings, or a handwritten menu. Sharing quality time and conversation over a lovingly prepared meal will make for a memorable and meaningful Father's Day.‍

Final thoughts

Celebrating Father's Day doesn't have to be an expensive affair. The important thing is to show your dad genuine appreciation and create memorable moments together. By choosing budget-friendly yet thoughtful and authentic ways to commemorate the day, it becomes a beautiful reminder that the true value of fatherhood lies in the love, connection, and life experiences shared with those who mean the most. 

So let this Father's Day be a heartfelt and unforgettable tribute to your dad, whose presence and guidance make all the difference in your world.

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Since stablecoins emerged in the crypto sphere, many have questioned their legitimacy. While cryptocurrencies are perhaps more frequently used as a tool for value storage rather than a means of transaction, coins (or any financial products) that cannot appreciate in value certainly raise several questions. So why have stablecoins become so popular among businesses and individuals alike? Below we're taking a look at their use cases and reporting on whether they're the safe haven of crypto. 

What are stablecoins?

Before we continue, let's clarify what stablecoins are. These types of cryptocurrencies are "stable assets" that have their value pegged to a fiat currency or commodity. This might include the US dollar, Euros, the price of gold or even other cryptocurrencies. So while Bitcoin (BTC) and Ethereum (ETH) are subject to bouts of volatility, stablecoins remain consistent with the price of the money they are pegged to.

Stablecoins are not to be confused with CBDCs (central bank digital currencies) which are operated by a government-controlled organisation, usually a country's national bank. Stablecoins are controlled by a company and utilise blockchain technology to facilitate transactions, store the relevant data and maintain security.

Stablecoins' economic policy ensures that they maintain their value through the use of smart contracts, algorithms and reserves. For each Tether in circulation, for example, one US dollar needs to be held in a reserve account. These types of cryptocurrency tokens provide a reliable and non-volatile means of making payments with the companies issuing them regulating the circulating supply.

What value do Stablecoins provide?

While many might not initially see that value in a fiat-pegged cryptocurrency, stablecoins are actually hugely useful in a largely volatile market. Let the current top 5 biggest cryptocurrencies based on market cap in the industry be an indication, with two of the five being stablecoins. 

As stablecoins utilise blockchain technology, the coins naturally inherit all the characteristics of seamless and fast digital transactions (as well as transparency when it comes to transactions). Much like traditional digital assets, stablecoins can be transferred across borders instantly, a much faster and cheaper alternative to using fiat currencies and without the chance of price swings. Users, whether consumers or businesses are able to buy, store and sell stablecoins as they would any other cryptocurrency on the market.

For example, should you wish to pay a business in another country for services rendered or any other expense, it would prove to be much faster and cheaper to use a stablecoin than to send your local currency via traditional banking services. Stablecoins offer a much more streamlined means of completing the job.

Stablecoins also provide an entry into exchanges that don't work with fiat currencies, providing a reliable means of trading on those platforms. Stablecoins have also come to be known as "risk-off" assets, giving newer traders a chance to "test" the markets without the volatility. 

This innovation in the blockchain space has opened many new markets to the use of cryptocurrencies, certainly more mainstream markets across a wide range of countries. As information regarding how they work spreads, more businesses have opened their mind to using them in everyday working life. Stablecoins have also become a popular option with users trading on DeFi (decentralised finance) platforms, providing a secure and efficient means of using the products.

Are stablecoins the safe haven of crypto?

In essence, yes. Since the advent of stablecoins (marked by the launch of Tether) in 2014, there has been a number of new stablecoins to emerge, resulting in more confidence in crypto markets. This has equated to more movement and trade volume, and a lower risk management sector.

So while one isn't going to make huge returns (if any) on stablecoins, they bring value to the market due to their stability and transaction ability. 

As stablecoins are used by traders to hedge against falling markets, they provide a safe haven for their digital funds until the markets return to normal levels. Businesses around the world use stablecoins as they provide a faster and cheaper means of settling bills, allowing them to harness the power of blockchain technology without the worry of prices rising or falling in a short space of time. 

Tap into stability

Tap can support your market entry endeavors by providing a platform to include a variety of assets in your portfolio. Whether you're considering accumulating stablecoins during market shifts or looking to engage in various transactions, Tap offers a streamlined experience. You can easily acquire, sell, trade, store, and manage widely utilized stablecoins like Tether (USDT) and USD Coin (USDC), all from a single secure platform.

In the chronicles of cryptocurrency folklore, few events are as groundbreaking or as heartily celebrated as Bitcoin Pizza Day. This annual commemoration observed on the 22nd of May, looks back to one of the earliest real-world transactions involving Bitcoin. It's a momentous occasion that serves as a delicious reminder of the humble origins and astonishing growth of Bitcoin and the broader cryptocurrency ecosystem.

On May 18, 2010, a Florida-based programmer named Laszlo Hanyecz made a legendary post on the BitcoinTalk forum. In this post, he stated that he wanted to buy two large pizzas in exchange for 10,000 Bitcoins. He laid out his preferences for the pizza toppings and expressed his desire to have the pizzas delivered to his house, hoping to make the transaction as simple as possible​.

In a surprising turn of events, just four days later, a fellow Bitcoin enthusiast named Jeremy Sturdivant, aka "jercos," stepped up to the plate and accepted Laszlo's tasty offer. The deal was sealed, and before long, two piping-hot pizzas arrived at Laszlo's doorstep. 

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This marked the first-ever recorded real-world transaction using Bitcoin as a currency, setting a precedent for future use cases​.

Now, you might be wondering, "What's the big deal? It was just $25 worth of pizza, right?" Well, my friend, hold onto your appetites. At the time, those 10,000 Bitcoins were valued at a mere $41. But fast forward to today, and they would be worth millions! That's right, Laszlo's pizza purchase turned out to be one of the most valuable slices of all time.

The Bitcoin community cherishes this moment, not just for its historical importance, but for the staggering financial implications of the transaction. And so, every year, Bitcoin enthusiasts and crypto communities around the world come together to celebrate Bitcoin Pizza Day.

It's a time to reflect on Bitcoin's humble origins and its remarkable growth into a globally recognized asset class. We raise our forks and cheer for Laszlo, who unwittingly set in motion a revolution in the world of finance and beyond.

But Bitcoin Pizza Day isn't just about looking back; it's about looking forward too. The blockchain technology that underpins Bitcoin has evolved and found its way into various industries, from finance to supply chain management and even healthcare. 

Cryptocurrencies themselves have diversified, with thousands now available, each with its unique features and use cases. While Bitcoin was the first cryptocurrency and remains the most widely recognized and valued, the crypto landscape has blossomed since Laszlo's pizza adventure.

Laszlo Hanyecz's simple act of buying two pizzas has grown into a grand annual tradition. The power of his story lies in its illustration of Bitcoin's potential and the limitless possibilities of cryptocurrency. This tale is often shared with newcomers to the crypto space, serving as a poignant reminder of Bitcoin's transformative journey and its potential for future growth.

Bitcoin Pizza Day serves as a reminder of how far we've come and a celebration of the potential yet to be realized. It's a testament to the power of a community and the revolutionary potential of a good idea. As we chow down on our own slices this Bitcoin Pizza Day, let's raise a slice to Hanyecz, to Bitcoin, and to the incredible journey of cryptocurrencies.

To learn more about the history of Bitcoin, you can explore the original Bitcoin whitepaper published by Satoshi Nakamoto in 2008. If you're new to the crypto space and want to understand more about blockchain technology, this comprehensive guide is a great place to start.

Happy Bitcoin Pizza Day to all! 🍕 May your celebrations be filled with joy, laughter, and, of course, lots of tasty slices. Cheers to many more slices of history yet to be made!

As cryptocurrencies grow in popularity and adoption, they are fast becoming a household term, a norm if you will. 2021 was a big year for digital assets, with the entire market cap exceeding $3 trillion, institutional investment at its highest, and countries like El Salvador declaring Bitcoin as a legal tender. 

On top of this financial institutions around the world are incorporating the asset class into their balance sheets and many are exploring the concept of CBDCs (central bank digital currencies). As digital assets become increasingly integrated into our daily lives and a more popular option for the customer, it's time we harness the power of this nascent technology. 

What is crypto as a service (CaaS)? 

CaaS stands for Crypto as a Service and is a white-label solution for businesses and financial institutions that want to provide cryptocurrency services to their consumers. CaaS is essentially banking as a service for digital currencies.

CaaS works as a simple plug-and-play system for businesses wanting to provide their customers with digital assets trading, brokerage and custody services. Customers can interact with the services directly, without having to go through the providing company.

This infrastructure can then be used by any platform, from fintech, bank, or financial services businesses, as well as be integrated into mobile applications.

Given that asset managers manage £6.6 trillion in the United Kingdom alone, and that listed company values reach a staggering $93 trillion overall, the potential to offer traditional institutions with crypto cloud services is huge. As banking as a service has taken off, the expectation is that CaaS is going to follow its lead.

How does CaaS work?

The Crypto as a Service solution allows businesses and financial institutions, such as neobanks, to establish new revenue streams by providing a simple means for their customers to engage in crypto payments and the digital assets market. The consumer will be able to:

• Buy and sell digital assets
• Pay for goods and services using their digital wallet
• Securely store cryptocurrencies

The companies providing these services also receive access to highly secure and compliant transaction data monitoring and risk management systems. They will also be responsible for developing the global payments user interface, as CaaS functions as a back-end-only tool.

This ensures that the crypto services are entirely aligned with the brand, and do not appear to be a third party intervention. Through this interface, users can engage in crypto payments and manage crypto funds.

The main company providing Crypto as a Service will be responsible for aspects like KYC/AML, order processing, transaction monitoring, and digital assets custody, relevant to each jurisdiction.

For example, the regulatory requirements will be different in the United States and United Kingdom. This will establish the underlying trust when it comes to new customers engaging in crypto markets and other asset classes. These innovative business models are revolutionising the way in which people around the world can engage in decentralized finance without the risk.

Who would use CaaS?

Crypto as a Service allows regulated central banks and fintech firms to enable their customers to invest, store, trade, and pay in crypto. As these businesses offer cryptocurrency services they too can open new revenue streams.

The technology provider will also allow pension funds and asset managers to invest in Bitcoin and the greater crypto ecosystem on behalf of their clients. This new technology generates increased cash flow for businesses and an increased demographic of users.

Remittance firms will be able to send cross-border payments for a fraction of the cost while gaming companies, e-retailers, and brands can all begin utilizing digital wallets to allow their clients to make purchases in cryptocurrency and an overall improved experience.

CaaS is designed to assist any business looking to innovate their global payments system and enter the global market with crypto services.

Closing Thoughts

The greatest obstacle in the path to global crypto adoption is the belief that crypto is too volatile and that it lacks regulation.

While the markets are known to engage in volatile price movements, the understanding is that once regulatory frameworks are imposed this will be curbed.

Government bodies around the world are working to achieve this, as cryptocurrencies have firmly become a permanent feature on the greater financial landscape. As banking as a service (BAAS) has taken off, in light of the rise in crypto adoption, CaaS is the next step forward.

Crypto as a Service aims to provide both access and education to those looking to incorporate this crypto-centered product into their business and lives and integrate themselves into the digital asset ecosystem. Be sure to find a reputable platform that provides CaaS services with an easy-to-integrate API and high regulatory standards.

These crypto-powered products and services will assist the general public with becoming more familiar with the technology while allowing those already interested in harnessing and leveraging their crypto portfolios. After all, cryptocurrencies and the greater asset class are here to stay.