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CryptoCurrenCies, yay or nay?






        Quintin Moorcroft                                                                                                       to find one, there is over 1600
                                                                                                                                cryptocurrencies in the crypto-
                 hat is a                                                                                                       space, but in reality, 1000 are
                 cryptocurrency?                                                                                                scams or worthless coins, 500
        WBitcoin, right?                                                                                                        are just silly beyond belief e.g.
        Blockchain? Easy, that is the                                                                                           CannaCoin with which you can
        thing that you put in your                                                                                              buy only cannabis, another 98 are
        backyard to tie the old mother-                                                                                         anonymous so that only leaves a
        in-law to.                                                                                                              very few that will endure in the
                                                                                                                                long run.
          Wrong and wrong. So let us
        try and clarify. Cryptocurrency                                                                                          So, when you want to buy a
        is nothing more or less than                                                                                            crypto, first make sure that is
        e-Bucks. You will never be able                                                                                         adheres to the KYC (Know your
        to get a physical e-Buck in your                                                                                        client) and AML(Anti-money-
        hand, but if you have it, you can                                                                                       laundering) regulations, then
        spend it. Bitcoin was created                                                                                           make sure to read the whitepaper
        to be no more than an easy                                                                                              of the crypto, in order to
        and cost-effective way to send                                                                                          understand what is was created
        money anywhere. It takes 45                                                                                             for. Ask questions, do some
        minutes for you to send money                                                                                           homework. The only way that the
                                                                                                                                crypto world will be cleaned up, is
        from South-Africa to Siberia,
        and the transaction fee is less                                                                                         by a combined effort of all current
        than 0.01%, brilliant, right?                                                                                           and prospective users. Remember
                                                                                                                                the old adage, if it looks like a
          The unfortunate reality      Low and behold, the bubble   we can double our money in two   yes, Bitconnect, to take over R   duck and sounds like a duck,
        is that Bitcoin, and other    burst and guys that bought in   days, we were told that Bitcoin is   6 billion from the unwise and   chances are, it is a duck. 
        cryptocurrencies, have morphed   December 2017 has lost 60% of   the safest investment in a million   uninformed masses, and that is
        into something totally different.   their investment. Bad luck, some   Sundays.” We were told? As a   only in the past 12 months.  E: q.moorcroft@cryptouniverse.co.za
        Say Bitcoin in a pub and you   might say, bad timing, others   reasonable, bona fide adult, would   As with any problem, there is   W: www.cryptouniverse.co.za
        are most likely to get a proper   might say. Sorry to say, it was bad   you give R 100 000 to a random   a solution. The problem with
        beat down. If you did the     judgement. Cryptocurrency was   person, that you have never met,   cryptocurrency is the inherent
        same in early December 2017,   never meant to be an investment,   or spoken too? I doubt it. So why   anonymity thereof. But that is
        EVERYBODY would chip in and   it was simply meant to be a   blame cryptocurrencies?       not an unsurmountable problem,
        tell you exactly how much money  cheap and efficient peer-to-peer   The unfortunate reality is that   choose a cryptocurrency that is
        they made by buying Bitcoin   payment system.               people do not really understand   not anonymous. Why? Rather
        and holding it as an investment,   I can see some people with   what crypto is, and that opened   simple, if it is transparent, then
        because we all knew Bitcoin was   angry eyebrows. “But sir, we were   the way for scammers, yes,   it is the exact same thing as a
        going to reach $ 50 000.      told to invest, we were told that   BTC Global, yes, Bitclubpool,   bank account. The next step is


        Debit orDer ColleCtions




        Debbie Jones, Director at Three Peaks   doesn’t matter if it’s a fixed amount   they will be receiving, they have
        Payments House                or varies from month to month   better control over their cash     businesses that make use of debit
                                      or if the payment is monthly,   flow and are able to budget more   order facilities are able to manage their
                anaging accounts      quarterly or annually. An option to   accurately.                       finances more efficiently.
                receivable can be     collect ad hoc or once off amounts   Debit orders are also much safer
        Ma tedious process,           also ensures ease of payment.  than handling cash, which may be
        especially if you are regularly   Once the client has signed up   at risk of theft or loss. Cash deposits
        collecting payments from your   for a debit order, everything is   also incur costs as do credit card   Consolidated easy-to-understand   Three peaks
        customers. Not uncommonly,    automated. On the date that has   transactions.             monthly reports are available,   Three Peaks is a specialist
        customers who have been reliable   been specified, the payment will                       which save you time on reconciling   provider of payment solutions
        payers in the past, start to miss an   automatically be activated. If   Self-collection of debts is hard. A   your bank statements.     which offer businesses secure
        occasional payment. Due to the   funds are not available in a client’s   debit order service does not only   A debit order system is not   ways of collecting and processing
        unpredictability of the economy   account, the payment will take   save money, it also saves time.   restricted to use by large   payments from customers. The
        it’s not hard to understand why.   place when funds are available,   Clients don’t have to schedule time   companies but is ideal for small   company’s comprehensive suite of
        However, in order to counter   regardless of the date.      to make a payment, while service   and medium sized businesses.   core systems can be customised,
        this potential cash flow problem,                           providers don’t have to waste time   Often new business owners do not   packaged or supplied alone ‒
        debit orders are a simple, fast and   As debit orders are all electronic,   or assign employees to make follow   realise the stress that collecting   or even integrated with your own
        effective method of receiving   they are easily administered and   up telephone calls and send emails.  money from debtors can cause.     management software. 
        payments – with no bother and   since they are able to be tracked   Consequently, a debit order   Debit order systems also need not
        no delays. Through a debit order   there is no risk of a payment being   system allows companies to fully   be an add-on to a service offering   A:  Offices in JHB, CT & DBN
        facility, payments can be collected   lost. Consequently, any doubt   automate their debtors process   but can be implemented from the   T:  0861 373 257
        directly from a client’s bank   regarding payment is eliminated.  so that they can easily request   outset of establishing a business.  E:  info@threepeaks.co.za
        account on an agreed date.     Significantly, businesses that   payment, reconcile, and take action
                                                                                                   Thanks to advantages such as
          Debit orders are typically used for   make use of debit order facilities   against unpaid accounts. It can also   these, it is evident that through a
        the monthly collection of insurance   are able to manage their finances   be integrated with the company’s   debit order system business owners
        policies, subscription services,   more efficiently.  As they have a   existing accounting system for   can function more effectively and
        gym memberships, utilities, etc. It   much better idea of what payments   increased ease and efficiency.   focus on their core services.
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