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Digital Currency Ecommerce

How to Process Transactions on a Kratom Website

If you’re thinking about launching a website that sells products with regulatory issues like kratom, then you may have problems finding a payment processor. Although kratom is legal at the federal level, there are certain states and cities that ban this herbal supplement. As banks tend to be risk-averse, they will likely reject your application for a merchant account. So, what should you do?

Set Up Bitcoin Payment Processing

Before you start your search for a payment processor, you can start collecting bitcoin and other cryptocurrencies. Keep in mind that crypto is volatile, so you may want to convert those funds to fiat currency quickly. That said, if you’re selling numerous types of kratom on your website, then you’ll want to give people this payment option. There are third party bitcoin processors, and some of them will work with you, for a fee. However, you can cut down on your fees by setting up a Bitcoin processing server, using open-source software like BTCPay. This will require some technical know-how, so you might want to hire a professional web developer to set this up for you.

Accept ACH Transactions

There are many payment processors that will process ACH transactions for you. ACH transfers tend to be lower risk for the parties involved, so approval tends to be easier. The challenge here is that you will need to wait for the digital check to clear before funds are available. This requires you to keep track of old orders, sometimes for several weeks, before you ship product to your customers. As such, you could have some cancellations due to the slow service. You could ship early, but you risk losing the funds if the check doesn’t clear.

Try a High Risk Merchant Account Overseas

This is the riskiest way to process transactions. However, it also tends to convert the best. Most people won’t want to deal with the hassle of making crypto or ACH payments. So, if those are the only ways you collect funds, you could have low conversion rates. Adding credit card processing will help substantially. The problem is that US merchant processing companies often will not process kratom transactions. You may end up going through a bank in Africa or elsewhere. They will typically hold around 10% of your money in escrow before releasing funds to you, in addition to their high fees. If you pick the wrong bank, you could lose all of your funds. So, be careful with this method.

Get Familiar with the Law

The FDA is limiting imports of mitragyna speciosa into the US, and has seized property from herbal remedy companies that have made medical claims about the product without their approval. Therefore, it is important to learn the law, and the risks associated with selling kratom before you invest in this industry. The content on your website must be free from any false advertising, or medical claims that are not backed by scientific studies. You must also avoid shipping the product to jurisdictions where it is prohibited. Read the news about the history of crackdowns, so that you understand what could happen in the future.

Starting a Kratom ECommerce Website Ain’t Easy

There is a lot of demand for this herbal remedy. It is touted to help people with their stress and anxiety, and it is even reported to help people get over their opioid addiction. It’s a lot of work, and it’s risky to get into this business. But, if you want to try it out, then consider the steps above.

Categories
Digital Currency Ecommerce

Bitcoin Payment Processing Solutions

The future of the world economy is uncertain. COVID-19 has sent ripples through international supply chains, while local communities are on lockdown. Governments are sending massive cash payments, amounting to trillions of dollars of deficit spending, to their citizens. Consequently, we may experience hyperinflation. If this happens, then crypto may be a safe haven from the demise of fiat currency. If that happens, then we may see an explosion of digital currency transactions online, where bitcoin payments will replace credit cards and Paypal.

Third Party Bitcoin Processing Solutions

There are plenty of third party vendors that offer plugins for various ecommerce platforms. These bitcoin payment gateways charge a small fee for enabling digital currency transactions on a website. Everybody in the crypto universe knows about Coinbase, but here are a few other options:

Your Own Bitcoin Processing Server

What happens when you get rejected from 3P bitcoin processors? For example, what do you do if you sell holistic remedies that fall into a gray area at the state level? An herbal supplement like kratom, for example, is legal in most states, and it’s legal at the federal level. But, it falls into a gray area and is banned in a few cities and states. If you get approved by a 3rd party bitcoin payment gateway, you may eventually find your account closed. When that happens, you will scramble for a new solution. Or, you may just prefer not to pay fees on every transaction. If this is you, then consider installing your own bitcoin server. One provider is BTCPay Server. You will need a server administrator to set up a hosting account for you. And, you’ll need to pay monthly web hosting fees. But once you’re set up, you’ll be able to process your own bitcoin payments at virtually no cost over the standard mining fees.

Your web administrator should be able to read their docs and install the solution for a variety of shopping carts. WooCommerce is popular among WordPress websites, and there are documents for Magento and other shopping carts, too.

Categories
Ecommerce

Financial Technology, Cannabis and Future Legislation

Now that the federal government is easing up on its stance against cannabis, entrepreneurs are capitalizing on the booming industry created around this plant. Some places, like Denver, Colorado have more medical marijuana retail outlets than coffee shops. In california, the industry is worth over $3 billion per year.

The Cash Business of Cannabis

Perhaps as a remnant of its previous status as an illegal street drug, cannabis transactions are largely done in cash. Medical marijuana shops are depositing bags full of cash into their bank accounts that weigh as much as their bags of dried plant parts. Even so, the government still wants its piece of this otherwise free exchange of goods and services. Consequently, the cannabis industry is heavily regulated, with every step in the supply chain carefully monitored. This process, known as “seed to sale” requires technological inventory management systems and POS software. Despite this, some shops are making due using simple spreadsheets, but compliance continues to become more difficult. Furthermore, some banks are not friendly to the wacky weed and legitimate business owners are having trouble finding a home for their bags of cash. This may subside when the federal government finally gets with the 21st century and removes cannabis from the controlled substances act. Until that happens, cannabis shops largely cannot take credit card payments. Visa does not allow it. The unusual aspect of this story is that this antiquated, over-regulated system makes electronic payments less likely, which means that it may be less likely for the federal government to get its hands on a portion of the revenues generated.

An Opportunity for Fintech Innovators

This is where innovators may find an opportunity for wealth. Companies like Visa will not process the payments, but a crypto-backed system, for example, may be willing to take on the temporary risk of processing such payments. Already, Metrc, BioTrack , and MJ Freeway are processing such payments. Furthermore, POS companies are taking a shot at integrating their platforms, too. These include Flowhub, Green Bits, and Treez (notice a trend?).

Eventually, the industry may become less regulated, and this space will begin to blossom. We may even expect gray-area technocrats like John McAfee to enter the space, too. Until then, keep watching the trends.

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Marketing

How to Develop a Fintech Website

People make a lot of money in fintech. It’s a tremendous industry with a lot of opportunity for motivated people. Many of those people will make their money from investments. Others will make money by coding trading algorithms. Top careers in fintech include jobs in lending, blockchain, regtech, personal finance, payments & billing, insurance, capital markets, wealth management, mone transfers, and mortgages. Some people will make money by publishing financial technology websites. If you’re thinking about producing your own fintech website, then try these tips to do it right.

Pick a Niche Topic in Fintech

Financial technology is a diverse field, with lots of competition. There are already many financial technology websites that exist to provide news and advice to their readers. Rather than competing with top websites, choose a niche within fintech to promote. You’ll stand a better chance of ranking on Google for hyper-targeted keywords than you would with high level content about fintech. Develop your expertise in this niche industry and your website will stand out.

Create a WordPress Website

It’s easy to set up a WordPress website. First, pick a domain name and set up a hosting account. Then, pick a WordPress theme. You can try a free theme, but generally it’s easier to configure your website with a premium theme that already has some built-in functionality.

Market Your Website

Promote your website in whichever way you know how. If you have SEO skills, then it will be easier. Keep in mind, paid advertising may not make sense unless you have a good way to monetize your website. Profits generally come after the website has a strong foundation of free traffic.

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Ecommerce

Emerging Financial Technology Trends in Latin America

Ecommerce technology has been exploding in Latin America. As a result, there developed a need for online transaction processing. This capability enabled the growth of ecommerce, as digital transactions continued to rise. Consequently, investors have continued to fund fintech companies in Latin America. These include PayU, Braspag, Moip, PagSeguro, Mercado Pago, and others. What will we see in the future?

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Trading

Make Your Money Go Further With These Stock Market Tips

Stock market investment can yield high financial rewards. The below article will provide you with solid advice on how to maximize your investments in stock.

Check a broker’s reputation before giving him or her any money. If you take the time to do some research, you will build to protect yourself against investment fraud. Read financial news sites about all kinds of investments, including stocks, gold, crypto, and others. Keep in mind, this is not professional financial advice. You need to speak with an expert before investing in anything.

Know Your Rights

Exercise your shareholder voting rights if you as a holder of common stock. Voting normally happens during a yearly meeting held for shareholders or by mail through proxy voting.

Make sure that you’re spreading out your investments sufficiently. If you put all of your money into one stock, and then that stock crashes, you will be in serious trouble if that company begins to flounder.

Online Brokers

An online broker can be an excellent option if you are somewhat confident with their stock trading abilities already. The trading commissions of online brokers where you do all the work yourself are cheaper than both full service and discount brokers. Since your main goal is to make a profit, having the lowest operating cost is always your best option.

If you desire the best of both worlds, try one that also lets you trade online as well as in person. This way you’ll be able to dedicate part of your stocks to a professional and take care of the rest on your own. This hybrid strategy lets you with elements of both professional build and also practice your own investment skills.

Be Realistic About Returns

If you are a beginner at investing in stocks, be wary that making big returns overnight is tough. It usually takes quite a while for a company’s stock to become successful, and many people don’t have the patience to wait it out. Patience is key when it comes to the market.

This plan has to have things such as different strategies to use when you should sell a stock and at what price you should purchase more. It also entail a precise budget which defines your investment limitations. This practice will ensure that your emotions.

Keep it Simple

Keep your plan simple if you are just starting out. It could be tempting to do the things you have learned right away, but when you are new it is wise to educate yourself on what the best investment strategies are. This will end up saving you to build your portfolio to meet your goals.

Don’t over allocate your wealth in your company. Although some investment in your company is fine, it is best to build a more diverse portfolio that includes other investments. If your company goes bankrupt, you will lose a lot of money.

Damaged stocks are good, but stay away from damaged companies. A downturn in a stock can be a buying opportunity, but just be sure that it is a temporary downturn and not a new downward trend.When company’s miss key deadlines or make errors, you know its the perfect time to invest.

Beware of Snake Oil

Steer away from stock market advice which you did not actively seek. You should follow the advice given to you by your personal financial adviser, particularly if they own the stocks they suggest to you and have profited nicely from them. No one has your back like you do, especially when a large amount of stock tips are being given by people who are paid to give advice.

A lot of people look at penny stocks as a way to get rich, but they often fail to realize the long term growth with interest that compounds on a lot of blue-chip stocks. It is ideal to mix your portfolio with bigger companies that show consistent growth, but also look at the growth prospects of bigger and safer companies.

Consider getting yourself a stock broker. Stockbrokers will have inside information, but nothing illegal, and you can use this information to make wise investment decisions.

Sometimes, in a bear market, but somehow control 70% of the voting power. Situations like this are a strong warning signs not to buy these stocks.

Make sure you’re closely watching the trade volume of stocks. Trading volume is critical in identifying how a particular period. You need to know how active a company trades to figure out if you should invest in it.

When analyzing any stock for consideration in your portfolio, you should first check out its price-to-earnings ratio along with its total projected return. The price/earnings ratio shouldn’t be more than two times the projected return. So, if you’re looking at stock with a ten percent projected return, the price to earnings ratio should be no more than 20.

Growth Rates

Try to buy stocks that have slightly above average growth rates. These companies will give you more realistic valuations than stocks that are extremely high growing. High-growth stocks are typically very popular and under-performing due to their high demand.

Begin purchasing stocks that are already familiar to you. If you know of a stock which has previously experienced success or you know an industry really well, consider buying a few shares. This allows you to get used to the stock market and seeing how high your risk tolerance is when it comes to putting your money on the line.

You may also want to look into buying investment software that builds analyze and calculate your investments. This can assist you to keep track of stocks and obtaining more knowledge of how their prices are looking. There is a few software available; check online for information and reviews to provide statistical information on what investments are preforming and working for others.

Plan Your Portfolio

When planning your portfolio, understand there are various factors which lead to diversification and it’s not just about different sectors.

Invest in sectors that are familiar with. Peter Lynch said that he did not invest in electronics was because he did not understand them. Instead, he invested in things he understood such as pantyhose, underwear, pantyhose and underwear comapnies. The point is to only invest in the things which you understand well.

As mentioned, buying stocks offers the potential to make a lot of money. Stock investing is a time tested way to earn a significant amount of money if you have some discipline. Apply the tips from this article, and start seeing greater rewards.

Categories
Trading

Some Advice On Becoming A Successful Forex Trader

For instance,take an American who purchases Japanese yen might feel that Japanese yen is getting weaker when compared to the US dollar. Can you do well with forex trading?

To excel in forex trading, sharing your experiences with fellow traders is a good thing, but be sure to follow your personal judgment when trading. While consulting with other people is a great way to receive information, ultimately it is you that is responsible for making your investment decisions. Just know that this is not professional financial advice, so get help from a professional financial advisor if you’re serious about forex trading and investing.

Multiple Trading Accounts

Keep two trading accounts so that you know what to do when you are trading.

Stay focused on the course and you’ll experience success. If you’ve ever taken a course in leadership skills, such as various online courses, then you know how it can help with your forex trading. You need to lead your investments as you would a team.

Traders Are Human Beings (Usually)

Do not pick a position in forex trading based on the positions of another trader. Forex traders are only human: they talk about their successes, and they tend to speak more about their accomplishments instead of their failures. In forex trading, they can still make the wrong decision. Stick with your own trading plan and strategy you have developed.

Look at daily and four hour charts that are available to track the Forex market. You can get Forex charts every fifteen minutes! The issue with these short-term cycles is that they constantly fluctuate and reflect too much random luck. You can avoid stress and agitation by avoiding short-term cycles.

Do Your Research

Don’t try to be an island when you’re going to go into Forex trading without any knowledge or experience and immediately see the profits rolling in.Forex trading is a complicated system that has experts have been studying and practicing it for years. The chances of you blundering into an untried but wildly successful strategy are pretty slim. Do your research and do what’s been proven to work.

Do not begin with the same position. Opening in the same size position each time may cost forex traders money or over committed with their money.

If you do not have much experience with Forex trading and want to be successful, try using a demo trader account or keep your investment low in a mini account for a length of time while you learn how to trade properly.You should know how to distinguish between a favorable trade and one which is unlikely to generate profit.

Learn to calculate the market signals and draw conclusions from them. This may be the way for you can be successful in forex.

You shouldn’t follow blindly any advice you read about succeeding in the Forex market. Some information won’t work for your trading strategy, you could end up losing money. You will need to be able to read the market signals for yourself so that you can take the right position.

Keep a Journal

Most successful forex traders will advice you to keep a journal of journals. Write both your successes and failures. This will build you to examine your results over time and continue using strategies that have worked in the same mistake twice.

Relative strength indices tell you the average gains or losses of a specific market. You may want to reconsider if you are thinking about investing in an unprofitable market.

This is not a recommended trading strategy for beginners, but by looking at this, being patient will increase the odds of making money.

Begin your forex trading Forex by using a very small account. This can give you practice without breaking the bank. While this may not be as attractive as a larger account, you can learn how about profits, or bad actions, will really build you in the long run.

Forex is a way to make money based on the chance of turning profits. This practice can bring in extra money or for making a living. You need to know exactly how to proceed in order to start buying and practice them before you begin forex trading.

You can study your charts in order to come to a conclusion based on the data and charts. Taking data from different sources and combining it into account all of the information involved in Forex trading is the skill that sets the good traders above the bad.

It is inadvisable to trade currency pairs that have high liquidity. You may have a harder time finding a purchaser when you want to sell a more rare forms of currency.

Using a virtual account or demo platform when starting out is the best idea in order for you to gain knowledge about forex is a great introduction before attempting real time trading.

Create a Plan

Make and stick to a trading plan. You will most likely fail without a plan. Having a rational trading system to go by and executing that plan will be less likely to make decisions based on emotions since you are trying to uphold the details of your plan.

If you plan on participating in Forex for years to come, be sure to have a reference sheet on standard practices. This will build you become a great trader and will pay greatly through the years.

Pick the trading strategy that can best fit in with your life. If you have a limited amount of time available for trading in your daily schedule, you should focus on strategies like delayed orders, such as delayed orders.

You can find a lot of useful tips about brokers on Forex forums in relation to brokers. Use this knowledge to choose a trusted broker to avoid losing profits.

If you spend too much time on trading, it may cost your cbuildtal and your sanity.It is possible to make less trades than more.

Ready to Start?

So you want to learn about Forex? One of the first things to know is how different foreign currency markets truly operate. Understand the fluctuations in the currency markets move and what causes are. You should also possess an in depth understanding of the currencies you are exchanged. The more you know, the better your odds are of making a profitable deal.

Globally, the largest market is forex. Investors who are well versed in global currency are primed to have the highest rate of success in forex trading. For the average person, speculating on foreign currencies is risky at best.