Many Canadians use the average savings in Canada as a yardstick to determine how much they should have saved at their age. While this might be the right step toward financial accountability, it’s not the best way to approach savings. Before the pandemic, Canadians saved just 2-3% of their income, that’s way below the recommended …
TaaS is an acronym for “Transportation as a Service”. The “as a service” term has been used as a suffix to denote an operational model in which a service provider delivers services using various technological tools to proffer modern solutions to ineffective business processes. As a service term indicates that technological developments such as cloud …
The concept of free money resonates with every living person. Whether allowances from parents, a treat from your spouse, gifts from friends, handouts from strangers, a free movie ticket, train ride, candy, or some manna from heaven, we all love to get things for free. Whenever we express such wishes, it is not uncommon to …
How much does the average Canadian really have in savings? The answer might surprise you. Saving refers to the deliberate reduction in the consumption of something, usually money, time, or any other valuable resource. Personal savings is something most people never realize they should prioritize. And when we eventually do, we often struggle with knowing …
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Year-Over-Year Analysis (YoY) is also known as Year-On-Year. “Numbers don’t lie”, “what isn’t measured, never gets done” are popular parlance in finance and professional circles. These sayings aim to underscore the importance of measuring the performances of various aspects of our businesses or private lives from time to time. Like individuals set New-year resolutions, companies …
In what is currently the new gold rush, Canadians are investing more in a variety of stocks including gold stocks. There has been an unprecedented rise in the number of DIY stock traders all over the world. Online stock trading platforms like Questrade and Wealthsimple have simplified stock trading for novice investors. So what’s with …
Although it does not officially recognize bitcoin and other cryptocurrencies as a currency or legal tender, the Canada Revenue Agency (CRA) has announced that Canadian taxpayers will now be required to pay taxes on bitcoin and cryptocurrency earnings. They highlighted that Cryptocurrency itself is to be treated as a commodity. And by extension, the Canada …
A Dogecoin is an open-source peer-to-peer digital currency. It is one of the many digital currencies that have become popular among investors. When people are asked about cryptocurrency, the first word out of their mouth is usually “Bitcoin”. Many people tend to pay a lot of attention to Bitcoin and it is often easy to forget …
The basic idea behind sending and receiving mails in a mailbox is similar to having a bitcoin address. Unlike physical mails in the mailbox, bitcoin facilitates an exchange of value. If you wish to sell or buy anything with bitcoin, you need an address. If you are sending and receiving funds from a location, you …
Trading bitcoin without verification is also known as anonymous trading. When Satoshi Nakamoto launched Bitcoin in 2009, he described it as a “peer-to-peer electronic cash system”. Ironically, today, many crypto whales, hodlers, traders, and investors are relying heavily on various centralized exchanges to act as intermediaries when processing trades. These centralized exchanges developed as a …
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