Wealth & Money

Wealth & Money

How to generate passive income in India? | Passive income ideas in India

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Amir Kaise Bane

How to generate passive income in India? If you are a student, employee, or businessman, it does not matter. You will come to know each and every detail about passive income ideas in this post. I will share practical and realistic things to generate passive income in this post. You have to implement each and every idea that I am going to share here. What is Passive income? So for those who do not know what is passive income? Let me tell you, Passive income means any kind of work that you have done once, will create money lifetime for you. For example, if you have a house and it is rented, you will always get a certain amount for a lifetime. Your rented house will create a passive income lifetime for you. Let’s take a second example, you have written a book, and your book is published on the Amazon website. You will get money if someone will purchase it, this is also an example of passive income. I hope you must have understood what is passive income. How to generate passive income in India? You must have understood what is passive income. Now let’s see what are the ideas for creating passive income. Success will not come unless and until you are completely restless. It is not motivation but a fact. You have to work out of your comfort zone if you want to create a next-level income. There are some practically possible ideas through which you can create a passive income. It won’t happen overnight, you have to work for it with consistency. 1- Blogging. If you don’t know what is blogging, then let me tell you that blogging means sharing your ideas and knowledge over the internet by making a website. You are reading this post, it is a blog, and here I am sharing some value-added information with you. You can start blogging on any topic, it may be health-related, exercise-related, Moneymaking tips, News, product review, etc. Choose a niche idea and work on it on your blog. After getting Google Adsense approval you can start earning money from your Blog. 2-Youtube Channel. Youtube is full of knowledge and entertainment. You can start making videos on any topic in which you are interested. If you are a girl or woman you can start posting your recipe videos on youtube. If you are a Gym lover and have good knowledge about workouts and diet. You can start a youtube channel and make such videos on it. Most people give up when they do not get subscribers and views. But trust me when you are consistent about your work, you will definitely get a good result in the future. Before that learn about video editing, Thumbnail, title, tag, and description. There are so many things that you need to learn before starting your Youtube channel. When you learn then only you can earn. Also, read How to make money from Youtube 3-Rent a property. Property means not only your home, but your car can also be property. You can rent out your home or car to someone and can create a passive income for a lifetime. I have seen so many people who have purchased a car but they drive often. Instead of keeping it at your home, you can rent it out to someone and get money. Many people have DSLRs but they often shoot videos or photos, you can also rent it out to get money. Your property should work for you and it will create a good amount of money. 4-Investment. If you are earning through Job and business then instead of saving your money, invest it wisely. Your investment can be in anything, Mutual fund, Stock market, Cryptocurrencies, real estate and etc. I know for some people it is hard to save money because of their home and daily expenses. For those, I would say work on different skills and create 2nd source of income and then invest. If you are earning a good amount of money then you can take a small amount from your salary and invest it in Mutual funds, the Stock market, or high-paying dividends. Do proper research before investing your money. 1 bitcoin was equal to 2 Rs approx in 2009 and 1 bitcoin is equal to 2,935,824 Rs in India. Just think if you have invested in Bitcoin 5-6 years back, it would have become more than your expectation. This is also the best idea that how to generate passive income in India. 5-Sell course If you are good at anything then you can create a course and sell it on multiple websites. Here is the list of websites where you can sell your course. Udemy. Skillshare. Teachable. Ruzuku. LearnDash. Podia. Thinkific. Everyone has a hidden talent that he can teach people. It could be anything, like Excel, Blogging, SEO, IT-related info, Video Editing, Photo Editing, Coding, Web designing, etc. Any kind of skills you know, you can create a course and sell on these websites. This is also a great idea that how to generate passive income in India. Why Passive income? Many people think that passive income will make them rich. Passive income doesn’t make you rich instead it helps to meet your day-to-day expenses. Why do people do jobs and business? He does it so that he can maintain his day-to-day expenses. He can have a ration in his home, he can pay school fees to his children. There could be so many reasons that a person works hard daily. We are all talented, yes you are reading this article, you are also more talented. Many people do not explore themself and their creativity. It is because they focus on their daily life activity, daily job work, daily expenses, daily relationship problems, etc. Because of this, they do not get time to understand themselves. The people who just think that they want a passive income won’t get anything. The person who just wants … Read more

Best crypto exchange platform in India | Best cryptocurrency exchange in India

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Best crypto exchange platform in India

Cryptocurrency is the future currency of the world. Many of us have a common question, what is the Best crypto exchange platform in India? There are so many platforms of crypto exchanges, some of them are Indians and some of them belong to another country. We are going to see each and every other platform in this post. The crypto coins should be kept on the Indian exchange platform only. Normally share market, and mutual funds even if you file ITR then US assets count as foreign assets. SEBI (Securities and Exchange Board of India) gives authority to the Indian exchange platform. Best crypto exchange platform in India There are so many crypto exchange platforms in India. Here I am going to share about every platform of Crypto Exchange. 1-Wazirx. The founder of Wazirx is Nischal Shetty. Wazirx started in 2018 and it ranks 38 number in the world. Wazirx is one of the biggest crypto exchange platforms in India. It does not support UPI but it has limited Net banking limitations. The availability of cryptocurrency is much more on Wazirx and you can trade on cryptocurrency as well. The trading volume is much high for all kind of exchanges that operates in India. Almost 7.5 million users are registered with Wazirx and it has crossed 21.8 billion trading volume. The best thing about Wazirx is you can deposit in INR and in Crypto as well. You can choose any cryptocurrency in order to deposit it and can transfer it to a wazirx wallet. If you want to deposit in the Indian rupee then UPI, Net banking, and Bank transfer are also supported here. Peer to Peer exchange services is available in Wazirx. 2-CoinDCX. CoinDCX is performing well in the market and it is promoted by so many Social media influencers. There is no doubt that it is one of the best crypto exchange platforms in India. In order to use this app, you must follow the KYC procedures. The navigation interface of this app is easy to use. You can invest a minimum 100Rs to a maximum of 51 Lakh rupees. You can transfer the amount using the Mobikiwik app and it takes 24 hours of processing time. Users can also use the bank transfer option to transfer their money. The transaction fees are less than other crypto-based applications. If you are new and wanted to start crypto trading then you can use this app. If you are stuck at any point then customer service is available to assist you. CoinDCX also offers referral rewards if you share them with your friends and colleagues. Before investing in cryptocurrencies, this app also has a graphs feature that helps the user to predict the future market price. You can set an alert of pricing if you want to do it in CoinDCX. CoinDCX is also the Best crypto exchange platform in India. 3-Vauld. Vauld was founded in 2018, just 4 years before and it is based in Singapore. Users can trade, buy borrow, and trade cryptocurrencies through Vauld. Apart from Crytpo trades, it also helps customers to borrow money and earn interest as well. It is user-friendly for a beginner who wants to start trading in cryptocurrency. There are no withdrawal and deposit fees and Vauld is highly secure. If you are holding your crypto assets then it also helps the customer to improve and grow their portfolio further in the future. You can also visit their website and install their app from the Google play store to set up an account. The best part of Vauld is, it has its own telegram channel, where you can learn to trade in cryptocurrency. For any kind of assistance, you can do a live chat with customer support. Also, read What is Bitcoin alternative? 4-CoinSwitch Kuber CoinSwitch Kuber is one of the popular and best crypto exchange platforms in India. It has started in 2017 and its headquarter is India-based. CoinSwitch Kuber enables you the opportunity to buy and sell cryptocurrencies. The user interface is so friendly and easy to navigate at CoinSwitch Kuber. You can even start investing your money from 100Rs on this platform. There are no transaction fees or hidden charges on this platform. You can earn money on this platform as well by investing and trading. You need to be very careful and do research before investing your money, otherwise, the platform is safe. It is a volatile market, the price can be increased and decreased at any time in such platforms. You can trade or invest in more than 100+ cryptocurrencies on CoinSwitch Kuber. There are more than 7.5 million traders on this platform. If you are new to crypto then you can start from 100Rs to understand this platform without having much risk. You can use UPI, Paytm, and bank transfers as well to invest and withdraw your money. CoinSwitch Kuber also has a referral reward if you refer it to any friends. 5-Zebpay Zebpay is an Indian exchange platform and it was launched in 2014. It has more than 20+ listed cryptocurrencies and there are no trading and withdrawal fees in Zebpay. You can sell and trade various famous cryptocurrencies like Bitcoin, Bitcoin, Ether, XRP, and more. Zebpay has a referral program as well, which means you can refer and earn by sharing this app. If you are a beginner and wanted to explore more about cryptocurrency then you can start with Rupees 100 only. KYC is a must after installing this app, and it can be installed in Android and IOS. You can use UPI, Bank transfer, or Net banking as well in order to invest and withdraw. Before using Zebpay, one thing you need to know is that if you are doing intraday trading then 1.10% is the intraday transaction. If you are trading or investing Crypto-Crypto, and USDT-INR, then trading fees are flat at 0.10% for Intraday transactions, takers, and makers. 75 Rs is the membership fee in Zebpay but you can avoid … Read more

What are Bitcoin alternatives? The need for Altcoins

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What are Bitcoin alternatives

What are Bitcoin alternatives? Bitcoin is so volatile if its value goes up, it may go down also. In fact, it is a general rule for all kinds of investments in the financial market. Investments like stocks, mutual funds, gold, term deposit, government scheme and etc. The market capitalization of Bitcoin is much more than 80% of the GDP of the world. One thing is clear enough cryptocurrency will be a part of our future. In this post, we are going to read what are the important parts of cryptocurrency. How cryptocurrency works in reality. And what are Bitcoin Alternatives? The Need for Altcoins As we all know that Satoshi Nakamoto made Bitcoin. Bitcoin is a form of alt-currency and that is why it has been created. Central banks control our existing currency. He made Bitcoin a decentralized currency. No other banks or institutions can control the cryptocurrency. Basically, new bitcoins can be searched by their algorithm. It can be mined and can be created between people with the help of digital wallets and keys. All kinds of transactions of bitcoins are maintained in a public ledger and it is also known as a Distributor ledger. The main important thing is that it is public and anyone can access it at a certain level. It does not reveal the identity of the buyer and seller. The ledger is decentralized and it makes it secure and trusty. Satoshi decided that the supply of bitcoins should be limited. He did the coding in such a way that only 21 million bitcoin could make. For example, gold is limited in the world, it exists at a certain quantity. That’s why Bitcoin has been created so that its value can increase. If anything is available at a certain limit, people would prefer to buy it more. Satoshi made an algorithm in such a way that it would be difficult to mine the bitcoins in the future. 90% of bitcoins have already been mined out of 21 million. Experts say that the last bitcoin will be mined in 2140. Bitcoin is not perfect, it has also some flaws like other things. Ripple and Ether Altcoins. There are so many cryptocurrencies that have launched like bitcoins. It is also known as Alt-coins, it is an alternative to Bitcoins. Many altcoins address the flaws of bitcoins. For example, there was a flaw in Bitcoin that it takes so much time while making a transaction. In order to replace this flaw, a new alt-coin is made that is Ripple (XRP). It takes less than 4 seconds only to complete a transaction. Let me tell you the second example, there is a different alt-coin that is Ether (ETH). As we all know that the supply of bitcoin is limited, hence creators of Ether said that the supply of this alt-coin will be unlimited. They also added that 18 million new coins will be issued every year. After the success of Bitcoin, many countries came up with the idea that they also should create their own cryptocurrency. There was a coin named Libra, and it was proposed by Facebook. Libra made a lot of controversies and messes when it came to the market. Blockchain. Every cryptocurrency has a blockchain and this is used to keep track of every transaction. One transaction gets added to the blockchain when it is completed. As we have read above that some cryptocurrency takes time to complete a transaction and some take a second. But it is impossible to reverse a transaction. After every transaction, it gets added to a blockchain. No one can delete the old transaction, every transaction has a record. Exchange is an online platform where you can exchange fiat currency into cryptocurrency and cryptocurrency into fiat currency. Miners. Miners verify and check the accuracy of every transaction. It also maintains the security of the blockchain. Miners ensure to add every blockchain in every transaction. There is an important thing that you need to remember is, you need to create a new blockchain if you want to create a new cryptocurrency. In order to create a new blockchain, you need more time, enough money, and advanced technology. Instead of doing this, you can also create a cryptocurrency that is based on different cryptocurrencies’ blockchains. Such cryptocurrencies are known as tokens as well. The token is a kind of cryptocurrency that works on an existing blockchain. Before purchasing any altcoins you must research about it whether it is trusted or not. Many people became victims of the Pump and Dump scheme. Hence you need to be very careful before buying any alt-coins. Wallet. You all must be having a wallet where you keep your physical coins and note. In the same way, you need a wallet to store your cryptocurrency. This kind of wallet can be a cloud wallet, any other digital wallet, or any hard disk as well. You need to be very careful in order to choose your crypto wallet. There is an interesting story I am going to share here. There was a man in the UK, James Howells who purchased 7500 bitcoins. He stored it in his hard disk and mistakenly he threw his hard disk in a dustbin in 2013. In 2017 he realizes that the amount of bitcoin has increased. The value of 7500 bitcoins became more than 100 million dollars. Then he went to the council of a UK city for the hard disk that he threw in the dustbin. He requested the council to check his hard disk in the landfill. But he denied it because it was dangerous to go there. And the hard disk must have been damaged in the last 4 years. Moving further we are going to see What are Bitcoin alternatives? What are Bitcoin Alternatives? Ethereum. Ether is based on Ethereum blockchain technology and it was launched in 2015. There are some critical differences if you compare it with bitcoins. Ethereum uses a smart contract to guarantee a transaction. … Read more

What is Dogecoin? | Bitcoin vs Dogecoin

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What is Dogecoin?

I am sure you must be aware of Bitcoin and Rupee coin but do you know what is Dogecoin? The value of our Indian rupees is based on our currency. And bitcoin is based on blockchain that promises to bring a revolutionary change in terms of the monetary system. But do you know that dogecoin is based on memes? Literally, this coin is made in jest. Someone took this doge meme and this meme is quite famous at some point. It became a coin now around the world. The meme can be made with anything, not only a dog. Any person can develop their own coin because cryptocurrency is so decentralized. They just need some basic coding knowledge. But the thing is that this Dogecoin became so famous that people like Elon Musk started buying and promoting it. Why did it happen? Let’s see all about this new cryptocurrency in this post. Disadvantages of Bitcoin. After the popularity of Bitcoin, many people have seen its disadvantages. Like the long transaction time of Bitcoin. Or the whole process of Bitcoin consumes a lot of energy. This is not good for our environment at all. This is the reason that some people thought to make their own coins. These coins are called Alt-Coins and it means alternative coins. Because they are the alternative to bitcoins. And they try to counter the disadvantages of Bitcoin by some other method. After alt-coins have been made, people realized that anyone can create their own coins. Some people created their own coins for fun purposes. There were no benefits in their coins as compared to bitcoins. They simply created a new coin and changed its name. There were some scammers who created their own coin as well.  They fooled people to invest their money. This is also called the pump and dump scheme. Also, read How Cryptocurrency Works? These coins were created for no reason they are also known as shitcoins. They are not bringing any improvement in the process. That’s why it is called shitcoins. Some people consider that dogecoin is a shitcoin. The only difference is that the purpose of creating dogecoin was not to scam people. It was only to prank the people. Birth of Dogecoin In 2013 this doge meme was on the rise in its popularity. Billy Markus a software developer and Jackson Palmer, an Australian marketer, at IBM, created this dogecoin. Palmer said that he came up with an idea as a joke to combine the 2 popular trending topics on the internet. Cryptocurrency and doge meme and the code of dogecoin are based on Litecoin. Litecoin is an alt-coin that has a few benefits over Bitcoin. Advantages like less processing time and fewer transaction fees. It is truly surprising that the market valuation of dogecoin has surpassed that of Litecoin. If you see the largest cryptocurrencies in the world then Dogecoin is the 4th largest cryptocurrency after Bitcoin, Ethereum, and Binance. Also, read How to be Financially Independent in India? Why is Dogecoin so popular? How did a coin made as a joke gain such popularity in the world? Why people are buying it? The first reason is the Reddit website the folks on Reddit started using it as a meme. Whenever someone likes or comments on Reddit, then people would award them some Dogecoins as a tip. It is also known as the DogeBot tip. Usually, this was a tip of 5 Dogecoins and at that time 1 Dogecoin was equal to 0.0002 cents. It was a very little amount at that time. Using Dogecoin as a tip started attaining popularity on Reddit. And this thing expanded over the years. Dogecoins were used so much and that exchanged so many times that their value started increasing rapidly. In Sep 2018 the CEO of Tesla Elon musk noticed it. Elon met Jackson Palmer on the problem of Twitter spambots. The fake Twitter accounts to scam people using the guise of cryptocurrency. Elon musk wanted to take them down. Because his name was used to run this scam. So he asked Jackson Palmer to support on this issue. Elon Musk on Dogecoin. That was the time that Elon Musk came to know about Dogecoin. After 7 months. Elon Musk tweeted that Dogecoin will be my favorite cryptocurrency. In March 2020 Elon tweeted “Dogs rock, they are the most promising coins. So in the coming month and year, he tweeted about Dogecoin so many times. Indirectly he was promoting Dogecoin. Elon Musk is one of the most richest and famous men. Whenever he used a tweet, the value of Dogecoin would increase by 25%-50%. In 2021 the value of Dogecoin exceeded more than 50 cents. At its peak, Dogecoin had almost reached a valuation of $80 billion. Although its price has fallen a bit in a couple of months. The supporter of this wants to make the value of 1$ of 1 Dogecoin. How to buy Dogecoin? It is the same process as buying any other cryptocurrency. You just need a cryptocurrency exchange platform to buy any other cryptocurrency. The real-life use of Dogecoin the community of this has donated to several charitable causes. Their first donation was around $30,000 in Dogecoins to a Jamaican Bobsleigh team. After this some water conservation projects in Kenya and for helping some special needs children, the community of Dogecoin has donated money. And who are the community of this? What do I mean by this? Basically, there is a subreddit on Dogecoin where the users who buy and promote doge-coins come together. They make such donations of Dogecoins. Overall, dogecoin has become a cultural trend now. It is not bringing any significant technological advancement neither it is unique. Only because of its circumstances,  the dogecoin has become so popular now. This is needed to be understood by those people who think if they invest their money in Dogecoin then it will give them 50 times more returns. You need to understand cultural trends … Read more

Highest currency in the world | World’s Most Expensive Currency

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Highest currency in the world

Do you know what is the highest currency in the world? 1 dollar is equal to 75.11 Indian rupees. 1 Euro is equal to 86 Rs in India and 1 pound is equal to 102 Rs in India. But do you know which is the most expensive currency in the world? Here I am going to share about currencies all over the world. How does it work and why are these currencies highly valued? Highest currency in the world. The highest currency in the world is the Kuwaiti dinar. 1 Kuwaiti dinar is equal to 248 rupees in India. The question is what is the specialty of the Kuwaiti dinar that makes it so highly valued? Before going to talk about the Kuwaiti dinar we have to see its history. I am sure you will be shocked after hearing this, the currency used by Kuwait used to issue by the Indian government. The Reserve Bank of India used to make Kuwaiti currency and the name of the currency was Gulf Rupees. It was very much similar to the Indian rupee. The main thing about this currency was, it could not be used in India. Now you must be thinking that why Kuwaiti people used currencies made by the Indian Government. The answer to this question is hidden in history. Britishers used to rule in the Persian Gulf area and Kuwait was the country in between. Kuwait was not entirely under the control of the Britishers. Also, read How do banks make money? How was the Gulf currency introduced? Throughout the years, the Britishers used to control Kuwait. The British government saw that the economy of Kuwait is too small. So they thought that they should use the same currency which was used in India. Initially, this was the decision of the British-Indian Government.  But when India got freedom in 1947 then the government of India granted permission to use the same currency to Kuwait. At that point in time, Indian and Kuwaiti currency was the same. The economy of Kuwait was too low because oil was not booming at that time. However, the oil was already discovered in Kuwait in the late 1930s. But due to World War II, Kuwait could not able to sell oil around the world. When India got freedom from the Britishers, they found a problem of Gold trafficking. Gold trafficking was happening in Gulf areas, they used to sell gold in India. They would take Indian currencies to the Gulf and exchange them for other foreign currencies. The Indian economy was suffering loss due to this. Due to this reason, the Indian government decided that they would use different currencies in Gulf countries. They decided to keep the name of Gulf currencies, it is called Gulf rupees. The difference would be, they would not use Gulf currencies in India. Smuggling was stopped to a great extent. In 1961 Kuwait got freedom from Britishers and Kuwait became the first Arab country to create a constitution and conduct Parliamentary elections in 1963. Also, read How cryptocurrency works? How did Kuwait become so developed? Kuwait became developed and financially stable till 1970. Kuwait also became one of the top press freedom countries at that time. A journalist has more freedom in Kuwait rather than in India. Kuwaiti Dinar was introduced in the early 90s by Kuwaiti Government. The price of 1 Kuwaiti dinar in Indian rupees was 13.33 Rs in 1960. After 1966 the Indian government had to devalue the Indian currency due to some reason. Oman, Qatar, and UAE started to create their own currency. Currencies work at floating and exchanged rate around the world now. But this is exceptional for Gulf countries’ currencies. Kuwaiti dinar works at fixed exchange today, it is not fixed with a single currency however it is fixed with a basket of currency. Why did Kuwait fix its currency? Why Kuwait has fixed its currency? also Why India did not fix its currency? why does India keep its currency at a floating exchange rate? What are the pros and cons of this? The cons of fixed currency are, you will always be dependent on other currencies with your economy. If other’s countries get crashed then your economy will also be at a loss. The other problem is, if you peg your currency then you have to maintain your currency. In order to maintain it, you need to have a sufficient supply of foreign exchange reserves. Here the question is, what is maintaining a currency? Fluctuation of changes in market supply will impact the currency whether you are on a floating exchange rate or fixed exchange rate. There was a reason why India kept Indian Rupees at the floating exchange rate in 1990. The reason was the foreign exchange rate was decreased. There is a benefit of a floating exchange rate. The central bank can supply the money if there is unemployment or low economic problem in the country. It can also devalue the currency in order to revive the growth. There are so many disadvantages to a fixed exchange rate. Still, why do so many Gulf countries follow this same system? The reason behind this is, the economy of these countries runs on Oil based business. The market value of oils always fluctuates hence they always use a fixed exchange rate. Kuwait earns a lot of money rather than other Gulf countries. It has so many US dollars in reserve. That’s why they don’t have a problem maintaining the peg. Conclusion. Kuwait has one of the largest global reserves of oil in the world. Theoretically, Kuwait can fix 1KD as equal to 1000INR but they will have a problem maintaining the peg. They will need more foreign exchange reserves if they want to raise their fixed value. Balance of payment factors says Kuwait receives a large amount of money from other countries. They receive money in exchange for foreign investment and exports. The demand for currency is high hence its value … Read more

How do banks make money? Business Model of Banks

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How do banks make money?

How do banks make money? Where do banks invest their money? Have you thought ever in your life? We all save our money in banks and banks also give us the interest amount. Do you know how banks earn their profit? Well, we will see the whole process and much more about these processes and the business model of banks in this post. How do banks make money? Just think once that what do banks do with your money? You must have seen in many movies that the banks keep the money in a big locker. But the reality is totally different from what you see in movies. Banks use your money for providing loan purposes in the market. The banks get profit from the interest they charge on that loan. So let’s understand with a clear example. So suppose you have deposited the 100Rs in your bank account. The bank will use that hundred rupees for giving loans to the second person. The bank will charge 8% of interest on that 100Rs. After getting that 8% interest, the bank will give you your 4% and will keep 4% to itself. Here the bank’s profit is 4%. I am sure you must have understood clearly with this example. Also, read Is it safe to invest in the Share market? The most important question is what if the bank could not able to recover the interest amount? Or what if someone wants to withdraw all his deposited amount from the bank at the same time?  This situation is so problematic for a bank. It’s obvious that banks have multiple depositors and loan takers. Still, most of the banks do not keep the amount, they give it for loan purposes. RBI (Reserve Bank of India) has made a rule that a bank has to keep 4% cash of the depositor’s amount. This is also known as Cash Reserve Ratio. RBI is the boss of all banks and other banks have to follow its instructions. It changes from time to time, before a few years back it was 3% but now it is 4%. Apart from this, there is also a term that is Statutory Liquidity Ratio. It is running at 18% and this amount is kept at Government bonds, Gold reserves, securities, and PSU. What is Bank Run? If all the account holder withdraws their whole amount together then the bank will be failed. This is also known as a Bank run but it is impossible for any bank around the world. Realistically it does not happen unless someone gets panicked by hearing fake news. Sometimes banks are unable to recover the interest amount due to some reason and after that, the bank is unable to pay the interest amount to the account holder. There are some banks that have suffered from this situation like PMC Bank, and Yes Bank. Sometimes government takes some initiative to help such banks. That’s why banks put some limitations that you can not withdraw more than 50k or 40k. Bank earn their profit from interest in the market. They also invest their amount in the stock market as well. In a country like Germany, if you take a housing loan then they will charge only 1.8% interest which is very little. In so many cases they charge only 0.5 and 0.4% interest rates. Now you must be thinking that in such a case how do banks earn their profit? The banks give only a 0.1% interest rate for saving account holders. It happens mostly in Western European countries. The second situation is, banks charge some money to account holders just to keep their money in the bank. Other sources of bank income. Bank charges some money for services that account holders use. They charge money for having a credit or debit card. However, these are not the main source of income. The banks invest their money in government bonds, the Share market, and Gold as well. So the banks also earn their money by doing all such investments. Now let’s see some realistic examples on this topic. Let’s take 2 banks the first is HDFC and SBI these are some of the biggest banks in India. According to Dec 2021 figures, the total valuation of HDFC bank was 8.09 lakh crores and SBI had 4.11 lakh crore. The interest received on loans and the interest paid to depositors is called net interest income. If net interest income is divided by total loan then we can find out the Net interest margin. Through this, you can find out how much the bank is profitable. What is NPA? There is also a term that is Gross NPA (Non-performing assets). It means whatever amount the bank has given the loan in the market that has become a bad loan is called Gross NPA. SBI has a ratio of 4.77% and HDFC has a ratio of 1.32% of gross NPA. We can consider HDFC has less NPA. HDFC has a good situation however 4% is also not bad. But if this goes up to 7%  then it is a problem for a bank’s performance. In order to open a private bank, you must have a minimum of 500 crores according to some financial experts. I hope you may get some clear ideas that How banks make money? and how this market work.

What is the share market in India? | Is it safe to invest in the Share market?

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What is the share market in India?

What is the share market in India? How does the share market work? Is it safe to invest in the share market? We will see each and every detail about the share market in this post. Hence you have to keep reading the post till the end. What is the share market in India? The stock market, share market, and equity market are the same things. In the share or the stock market, you can buy or sell the shares of any company. Buying a share means you are buying some small amount of share of the company. You will own a small amount of ownership of that company. If the company gets profit, you will also get profit, and if the company faces loss, you will also face loss. History and purpose of shares? The share market started 400 years ago. There was a Dutch East India Company which is in the Netherlands now. People used to explore the world by ship. The map was not discovered at that time hence this company used to send their ships to explore more places and trade as well. They used to travel thousands of kilometers and they also required a lot of money. No one has a large amount of money at that time. They openly used to offer to the local folks that if they invest their money and whatever the stuff or trade they would get after returning. They would give the earned profit to them. This was a risky task for them because most ships do not use to return. The reason behind this was most ships used to be looted by pirates, most ships used to drown. Investors found this work risky and they thought that they would invest their money in 3-4 ships. This was a kind of share market at that time. Gradually this business became successful. The local folks also used to get their shares of what they have invested. I am sure you must have read that the East India Company and the Dutch India Company were so rich at that time in History books. Now today, the majority of the company became dependent on the stock market. What is a Stock exchange? The stock exchange is a building where people buy and sell stocks. It has divided into 2 types of market, the primary and secondary. The primary market is that market where companies sell their shares. There are some rules and regulations and it also depends upon the people how much they want to spend. The companies decide on a range to sell their shares. How many shares can a company have? There is an important thing to remember that every share has equal value. Whenever a company sells their shares they do not sell 100%. The owner keeps the majority of the share so that he can have decision-making power. If you sell all the shares then the investor would become the owner of that company. They all can take the decision of that company as well. Those who have more than 50% shares can make the decision for the company. Hence the founder prefers to keep more than 50% shares to himself. For example, Mark Zuckerberg has more than 50% shares of Facebook. The people who have purchased the share can sell to another one and this is called the secondary market. In the secondary market, people sell and purchase shares from each other. Share price in the secondary market fluctuates as per the demand of the market. Also, read How the internet works? India’s Stock Exchange. Almost every country has popular stock exchanges. India has 2 big and popular stock exchanges the first one is the Bombay Stock Exchange and 2nd one is National Stock Exchange. Bombay Stock Exchange has 5400 registered companies. National Stock Exchange has 1700 registered companies. A large number of companies are registered on the stock exchange and if we want to see the share prices simultaneously then Sensex and Nifty are made to measure the price. Sensex shows the trend of the top 30 companies on the Bombay Stock Exchange. The number of Sensex has reached more than 40,000. The same as we have Nifty, Nifty shows the trend of the top 50 companies on the National Stock Exchange. How to sell your company’s shares? If a company has to sell its share at a Stock exchange then it is called a Public Listing of that company. If this company is doing this for the first time then it is called an IPO (Initial Public Offering). When East Company was there then it was easy to sell the shares of the company publically. But now it is difficult and critical as well and it should be. Because anyone can build a fake company and make scams. There have been so many scams that have happened in the name of the share market previously. This is the reason that rules and regulations are so strict in the share market. SEBI(Securities and Exchange Board of India) handles all these things in the share market. SEBI checks which company should be listed and is eligible to list in the stock market. How can you buy shares? People used to trade by bidding at docks during the East India Company. Before the internet people used to go to Bombay stock building to invest, buy and sell their shares.  Now you need three things only, the Bank account, the Demat account, and the Trading account only. The people who invest their money are called retail investors. Retail investors always need a broker to invest their money in the stock market. The broker works as a medium between buyer and seller. A broker could be anyone and anything. A broker could be a third-party app, bank, or platform as well. When you invest your money through a broker in the market then he takes some commission. It is very obvious that no one work for free and the broker … Read more

How to be financially independent in India? You must follow these tips now

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Amir Kaise Bane

How to be financially independent in India? This article is for everyone regardless of their country. Everyone wants to be financially stable in the world. But the question is how? I am not a millionaire but I am still learning how to be financially stable. I have been following so many entrepreneurs and successful people since last year. Here I have been implementing those things in my life. I am going to share the same thing that will help you to be financially independent. This article is very important for those people who really want to be good and have a  wealthy life. How to be financially independent in India? 1- Start learning new skills. I have seen so many people who just prepare themselves for a government job after pursuing 12th or graduation. Although it is not a bad idea to get a government job. If you are a college student, employee, or businessman, you must start learning new skills. Here new skills mean learning those skills that can give you extra money. You do not have to spend 5-6 hours daily instead 1-2 hours is enough if you are learning any new skills. Excel, affiliate marketing, blog, content writing, Youtube channel, photoshop, and so many. There are plenty of skills that you can learn over youtube for free. These are short-term courses and are demanded in the market. So if you are a student or employee, you should always learn new skills. You can do freelancing after learning these skills. Everyone wants multiple sources of income but it is not easy. If you want to earn more money then you have to learn and develop skills. I have seen so many college students, who make money during their college studies. So start learning new skills and sell them in the market using social media platforms. You can also make money through freelancing. Also, read How to do freelancing in India? 2- Track your spending. There are so many people who spend their money without knowing how much they have spent in a day or month. They don’t even keep track of their money. And this leads to a shortage of money in the month-end. You should know how much money you are spending and how much you should spend. Keep the separate money for your daily or monthly expenses which are fixed. Apart from that make sure you fix the money that you will use in a day or month. By doing this, you will notice that you are saving more than earlier when you start tracking your money. If you are spending your money on useless things then forget about becoming financially stable. You will die struggling with money. Hence always make a list of those things where it is necessary to spend your money. Also, read How to make money from YouTube? 3- Read money-related books. “Readers are the leaders”, is a famous saying by Harry S. Truman. I know many people do not prefer reading books, but trust me a good book can change your life and your perception as well. If you really want to change your life and want to become rich and have a good understanding of money. Then read some books like Rich Dad poor dad, The total money makeover, The Automatic Millionaire, I Will Teach You to Be Rich, etc. These are one of the best and most popular books related to financial knowledge. If you are not getting the time to read the books, then you can find so many audios of these books on youtube. If you start implementing these things in your life then you will definitely become financially stable. Schools will never ever teach you how to become rich and earn money. Schools will only give you certificates and send you to find jobs. You will learn so many things when you come out of college. These books and other resources help a lot to survive in society. 4- Start investing. The poor people save their money in the bank and the rich people invest their money wisely. This is a difference between poor and rich people. Saving your money will never make you rich and you will die saving your money. Instead of saving money start investing those savings in mutual funds and the stock markets. Do not install any trading app and invest directly. Many people make money through stock marketing, in fact, some are doing it full-time. Believe me, they are earning a lot that you can not imagine. You can invest your money in mutual funds and the stock market. There is a low risk in a mutual fund but investing your money in the stock market is a high risk. So in the initial days, you can invest your money in a mutual fund using the Groww app. Meanwhile, you can learn about stock marketing strategies. You can do an analysis of the different companies before investing. Use diversification techniques before investing in mutual funds and the stock market. It means do not invest all your money in the same company. If you have 10k rupees then divide it into different companies. By doing this you will have a low risk of losing your money in the future. Also, apply the same method in mutual funds while investing your money. Although there is a low risk in mutual funds and try to divide your fund into different companies. Either you can use SIP(Systematic investment plan) or a one-time payment. SIP means you can use your money like an EMI every month for a certain time. Either you can do a one-time payment and withdraw it after a certain time. If you had a question in your mind that how to be financially independent in India? start investing wisely. Conclusion. Small steps make big differences hence start implementing the above tips which I have shared. Before doing anything first of all learn and then try. You must have heard that “Put … Read more

How cryptocurrency works? Types of cryptocurrency

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How cryptocurrency works

What is cryptocurrency? How cryptocurrency works? this was the same question when I heard about cryptocurrency first time. So here I am going to share everything about cryptocurrency. How did it start? Is it legal or illegal or we should invest in cryptocurrency? Who started cryptocurrency? You will come to know so many things in this post hence keep reading this post till the end. What is cryptocurrency? So first of all let me tell you the meaning of cryptocurrency. Here crypto means Secret and currency means a medium of purchasing Goods and services. So cryptocurrency is a kind of private currency or secret currency. I hope you must have understood what is cryptocurrency. Now you must be thinking that who maintains it or can anyone manipulate it or not? So let me tell you that cryptocurrency is maintained by so many computers in a public ledger. There are so many people who are maintaining cryptocurrency in a public ledger and it is called Peer to peer network. It is maintained by a revolutionary technology that is called Blockchain. The Blockchain word has been made with 2 words Block+Chain, the chain of blocks.   The Central American nation has started cryptocurrency and allows its people to buy goods and services. As per a Google report, Satoshi Nakamoto is the person who created Bitcoin. How cryptocurrency works? This blockchain is available on so many computers with complete transparency. If someone trying to cheat or fraud, they can be easily tracked. Whoever manages the public ledge is known as Miners and the process of transaction is called Mining. Doing all such things can not be done on normal computers. It requires a special kind of computer and software. Also, read How to earn from Freelancing? We all know that whether it is Indian currency or the US dollar, the government has control of it. Cryptocurrency is a virtual currency and there is no control of any bank or government on it. Cryptocurrency does not follow any banking traditional system. Bitcoin is being accepted as a payment method in so many countries. However, there are some countries like China, Bolivia, Indonesia, Turkey, and Egypt where Bitcoin is banned. But most of the countries that accept Bitcoin like the US, Canada, and Australia. We invest our income in FD, Mutual funds, Share Market, and Gold. But do you know we can also invest our income in Cryptocurrency? Yes, you can easily make the transaction in a second, even you can use it in an international transaction as well. You do not have to pay any transaction fees, it is completely free. There is no middleman in it and the transactions are secured and private. Do you know the value of 1 Bitcoin in Indian currency was 2.85 Rs and 0.06 USD in 2010? In 2021 1 Bitcoin is equal to 47 Lakh Rupees, you can imagine if you had invested 3 Rupees in 2010 it would have become 47 lahks Rs+ in 2021. This is how cryptocurrency works. Types of cryptocurrency. There are so many types of cryptocurrency in the world that are being used as digital payment. I am going to list some of the popular cryptocurrencies below. 1-Bitcoin 2-Ethereum 3-Binance coin 4-XRP (Ripple) 5-Tether 6-Dogecoin These are the cryptocurrencies that are being used for digital payment all over the world. You must be thinking is it safe to invest in cryptocurrency? Yes, it is safe to invest in cryptocurrencies, and all you can do by just download some apps like CoinDCX, Binance App India, WazirX App, ZebPay App and etc. You can get it easily on the Google Play store and download it for investing in cryptocurrencies. You guys must be thinking that it is so costly, how we can invest in it? So do not worry, you can purchase Bitcoin for 100 Rs only. You do not need to spend thousand or Lakhs, you can start investing in just 100Rs. This is the reason many people have started their investments in cryptocurrencies. The value of cryptocurrency fluctuates sometimes and the reason behind it is their demand in the market. I am just giving an example, so suppose you have a piece of land and there are so many people who want to buy that land. Then definitely the price of land would increase but if you have fewer customers to buy that land then the price would decrease. So it is all about the demand for such things in the market. Now you know why cryptocurrency rates fluctuate in the market. Conclusion. The world is evolving day by day and we can clearly see it in our daily life. The finance system, technology, medical field, Communication system, transport system, etc. You can relate all these things before and after 20 years and you can see how it has changed human life. Everything is evolving and we are accepting these all things. Before 20 years back people had no trust in digital payment transactions like on Paytm or other UPI apps. But today we can see that online payment has increased a lot. If you have 50 thousand Rupees in your locker, it may get damaged by insects or nibbled by rats. But if you have the same amount in your bank account then it is safe more than your physical money. Cryptocurrency is the future and the most important thing is that it does not control by the government. The prices may increase or decrease but they can not be manipulated by the government. People nowadays invest and trade in cryptocurrency and Bitcoin is the most popular Cryptocurrency around the world. Here I am not promoting or saying that you should start investing or trading in Bitcoins or other Cryptocurrencies. Everyone has a different perspective and you are responsible for your decision. Hence always consult with someone who is experienced in this field. Do your own research and if you are convinced then you can start using or investing in … Read more

How to start freelancing as a fresher? How much freelancers earn in India?

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How to start freelancing as a fresher

How to start freelancing as a fresher? This might be the question of so many people. I am pretty much sure that most people do not know what is freelancing. It’s ok, I also didn’t know about it when I heard about it the first time. If you are also here to know about freelancing and how much money a freelancer earns. This post will definitely help you to know each and everything about freelancers and freelancing. I will also share that what are the skills required to become a freelancer in this post. What is freelancing? Freelancing is nothing but a self-employed person or an independent person who earns money by completing the assigned task. So I am just giving an example of it. So suppose you are good at video editing and there is someone who wants you to edit his videos and he gives you money for that. That is called freelancing and in simple words, a freelancer is a kind of contractor. Freelancing is an industry and the person who works is called a freelancer. Video editing is an example, you may have so many skills like content writing, web designing, photoshop, Graphic design, etc. Anyone can become a freelancer and earn money. It is not easy but not so difficult to become a freelancer. You just need to spend some time learning skills in which you are interested and give services. There is no limitation of skills, you can learn hundreds of skills and become a freelancer. So I hope you must have understood the meaning of freelancing. Also, read How to make money from Youtube? How to start freelancing as a fresher? To become a freelancer you need to understand what kind of skills are demanded in the market. Selling the stones and selling the Gold in the market, the gold will always be expensive. Freelancing is the same, selling high-quality skills will be more profitable for you. So if you don’t know which skills are needed to earn a good amount in freelancing, then I will list some skills here. 1-Web designing 2-Content writing 3-Video editing 4-Coding 5-Web app development. 6-Advance excel and macros 7-Thumbnail making 8-Logo designing 9-Graphic designing 10-Bug hunting These are the top 10 skills that are trending in India. Apart from these, there are so many skills that will help you to become a good freelancer. You can start your own blog and earn by google ads. So first of all you need to choose any one skill to start your journey in freelancing. Do not learn all the skills at a time, you can’t focus on one thing. You can also search for more skills on google that you are interested in. Also, read How to make money from Content Writing? How to make money from freelancing online? As I said that you need to learn a specific skill, then you can start making money as a freelancer. So let’s suppose you have mastered any skills, and now you want to work as a freelancer. You need to be active on social media like Facebook, and Instagram. You need to also register yourself on freelancing websites like Upwork, Truelancer, Freelancer.com, 99 Design and etc. These are the freelancing website where you will get your clients. Apart from these websites, there are so many pages on Facebook where you will find your work-related client. I have got my 1st client on the Facebook group. You need to make sure you edit your Social media bio and make a professional account on Instagram, Twitter, and LinkedIn. By doing this you buildup trust for your clients. You can join Facebook groups related to freelancing, you will find so many clients over there. You can also put Whatsapp status, if anyone would be interested then they will contact you. In short, you have to advertise your skills on the Internet. It will be tough in the initial days but if you keep finding the clients, you will definitely get your clients. Make sure that you complete your work at a given time once you start getting your projects. Social media and the internet are so powerful that you can just do time passes or earn money from it. This post will definitely help you that how to start freelancing as a fresher and make money out of it. How much do freelancers earn in India? According to recent google reports, an experienced freelancer earns 5 lakh to 20 lakh per annum in India. See I am telling you the facts that if you are new in this field then at minimum you can earn 7-10 thousand per month. Once you acquire so many skills and have good experience in this field then you can earn 50k-60 per month. This is the practical salary scale, there are so many freelancers who make lakhs of rupees per month. The more you learn the more you earn in the freelancing industry. If you are a responsible person in your family then do not depend on freelancing. Do a regular job so that it won’t impact your daily expenses. Do your full-time job and side by side you can learn about freelancing and the skills required to become a freelancer. Once you are settled and if you can earn more than your job’s salary then you can be a full-time freelancer. Many people do like this, and this is one of the best ways to become a freelancer. The best part of the internet is, you can learn 70-80% of free stuff on Youtube, and Google. There are so many free courses available on Youtube and Udemy, Coursera, Skillshare, Udacity, and LinkedIn Learning websites. So do not wait for any institute, learn as much as possible from these available resources. If you really want to be a good freelancer and want to earn more money then you have to work hard. Success doesn’t come overnight, it takes a lot of effort and time. Many freelancers … Read more