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Showing content with the highest reputation since 01/18/2019 in Posts

  1. 2 points
    Opened mine on the 19th of November and moved my R1,500 to a Goal Save account. Started at 6% interest and then moved to 7%. Waiting for the 19th of this month and then I should be on 9%. Not sure what happens when I deposit more money into that account (if the interest rate resets, carries on at 9% or if there is some other mechanism keeping track of deposits and their respective interest rates). Do I trust them with my money? Well... I guess. Not planning to put to large a percentage of my money there but 9-10% interest beats almost everything out there. It even makes you wonder if it is worth buying Solar panels via FedGroup
  2. 1 point
    Now this is very clever...Abra is a populat crypto platform but what they have now done is to link listed assets to a type of crypto ETF that tracks major listed assets....check out the story below. https://www.abra.com/ Since Abra runs on bitcoin, it automates all of its processes like asset holding, hedging, and user transactions with smart contracts. It supports 30 cryptocurrencies, 50 fiat currencies, and is led by crypto/finance leaders like Bill Barhydt/CEO (formerly a VP at Goldman Sachs and Technical Director at Netscape) and Daryl Puryear/CTO (formerly Director of Software at Mint.com and VPE at Motif.) How does their new product work? Essentially, Abra has taken its existing platform and extended it to support assets available on the NASDAQ, starting with the top 100 stocks and ETF’s. Once users invest capital into the platform, they can choose to “invest” in one of Abra’s 100 stock/ETF offerings, which represents stock investment exposure in corporations like Facebook, Apple, Amazon, and Alphabet/Google. As soon as a user adds money to the Abra app, the capital is immediately transformed to bitcoin. Then, using Abra’s crypto-collateralized contract, Abra keeps the notional value of that bitcoin investment tied to the current value of the stock. This is done with what’s called a multisig bitcoin address, where Abra and the user sign a contract to peg the amount of cryptocurrency to the value of the asset. Abra users then hold an asset that track the exact price and volatility of the given stock. While users don’t actually hold any shares in the company they still receive dividend payments because of the means by which Abra hedges itself on the contracts — super cool. The platform can also support short selling which Abra hopes to offer in the future. Why does this make electronic stock investing any different? The mechanism by which Abra enters into these smart contracts means that Abra can offer this investing service legally in 155 countries. That is a first for investing in US stocks, commodities, cryptocurrencies and fiat currencies via a single service. The SEC and CFTC have clarified that the definitions of the terms “swap” and “security-based swap” do not include forward contracts. These definitions exclude “any sale of a nonfinancial commodity or security for deferred shipment or delivery, so long as the transaction is intended to be physically settled.” These organizations later provided guidance on how this physical settlement exemption applies to Bitcoin. Abra operates under this exemption. This means that Abra’s investing tools are much less regulated than other trading mechanisms. Since other online stock trading platforms like Robinhood, TDAmeritrade, or Charles Schwab actually invest user assets in real stocks and act as a full broker and custodian, they do have to follow rules set by the CFTC, SEC, and other securities commissions. But Abra’s model means they can expand the market of pseudo-stock-investing globally, beyond these specific geographic boundaries. What are the greater implications? Abra’s company ethos is democratizing finance. Their entire value is built off of being a platform where a first-time investor from the developing world can make the same returns as the hot-shot finance guys from New York. Abra’s new offering helps accomplish that by introducing pseudo-stock-trading to hundreds of new markets, making it a feasible investment mechanism for people in 155 countries globally. Abra’s new tool might also affect the price of bitcoin. On Abra, all users become “hodlers,” crypto-speak for someone who holds onto bitcoin without regularly trading it for other currencies and assets. Past financial studies have found that hodling is one of the key driving factors behind bitcoin’s price fluctuations. Since Abra’s platform automatically converts user capital to bitcoin, all users become hodlers and thus could, at large scale, drive changes in the price of bitcoin. Depending on how many people hop onto Abra’s new platform, we might see a short- or long-term spike in the price of bitcoin as more people use bitcoin as the underlying means for their every day stock and ETF investing.
  3. 1 point
    I decided to give TymeBank (TymeDigital) a try today. I am very excited for Michael Jordaan's BankZero, but TymeBank beat them to the punch and launch the first fully digital branchless bank. There were some initial hiccups with their website not working, but overall the experience was incredibly smooth. To open a TymeBank bank account simply sign up online through their website (Click here to open a TymeBank account). This process is incredibly simplified through the use of eFica they are able to FICA you without any documents all you need is your ID number (just the number, you type it into the website) and a cell phone (for OTPs and confirmations) then you set a pin and you are done, you now have a fully fledged bank account. There is a catch... In order to activate and get a debit card (visa debit card), you need to go into a Pick n Pay to the TymeBank kiosk. Take your cell phone with because when you log into the Kiosk it will send an OTP to your phone. All you need to do at the kiosk is scan your thumb fingerprints then your account will be fully verified and the machine will print your debit card. This entire process took me less than 10 minutes, registering online took 3 minutes and printing my card at the Kiosk took 4 minutes. After this, I downloaded the TymeBank app from the google play store and its impressive, very neat layout and functional. In fact, I like their app better than Capitec (and I have been using Capitec since 2008). Their app still needs some work, I think they are using some AWS instance not locally so the lag time on the app is noticeable (latency from whatever region they use), but its nothing major. Why did I get a TymeBank bank account? There are zero monthly fees, so I figured if it does not cost me anything to open the account and it does not cost me anything to have the account then why not. Something to note, SMS on TymeBank are free too, other banks should take not, especially Capitec, I know they make a killing on SMSes. The other drawcard for me was the integration with Pick n Pay (although their staff is completely clueless about how Tyme works, I went to two Pick n Pays and neither one's staff had a clue what to do when you want to add funds). Anyway, the reason I like it is that I shop mostly at Pick 'n Pay and with a TymeBank account, you can get double the smart shopper points if you use the card as your payment method and using it to swipe for the smart shopper instead of the blue pick 'n pay card. The other reason I got the account is for the interest. You get 6% interest from day one and if you leave your money you can get up to 10% interest, so I will put a few thousand bucks into this account and just leave it to earn interest, basically extra cash I will put into TymeBank as I will earn almost double the interest I get from Capitec. Another worthwhile note is that all TymeBank account holders get free wifi at all Pick n Pay and Boxer stores, not that I really need this, but for a bank account that does not cost me anything, it's a nice perk to know if I ever do run out of data I can pop into a Pick n Pay and be connected again. How to get money? It might not be obvious at first with all the digital bank and feeling like this is some special service. It's a normal bank account you get an account number so EFT some money to your TymeBank bank account. If you have cash on hand then you can go to any Pick 'n Pay. It will cost you R4 at Pick n Pay to deposit cash into your TymeBank account, which is alright. Pro Tip: The people at Pick 'n Pay will have no idea how to do it, so to avoid boiling your blood tell them this is a normal online deposit (they should understand what that means). Here is the card I got: This is a fully fledged debit card (visa), you can do online payments everything, there are no limits. The interesting bit, this card costs nothing. Capitec charged me R50 for my card.
  4. 1 point
    I have since made a few other enquiries. Here is my understanding: If the ETF/share you receive dividends from trades in a country that has a tax agreement with South Africa then you can claim a rebate with SARS. Using USA as an example: if you receive dividend income (as an individual RSA resident ) from a USA etf (VTI) bought through EE (or any broker) dollar account, VTI will withhold 15% of the dividend paid and when EE receives the dividends income from VTI (less 15%), they have to, buy RSA law, withhold 20% dividend income. I.e. you are effectively taxed twice. Sars allows you a tax rebate that in effect reduces your taxable income for your tax return. SARS has a bunch of rules/formulas around that which I haven't yet mastered - getting there. But believe me, SARS will make sure they get their share.....and then some.
  5. 1 point
    There is no tax on foreign dividends from what I recall- but I could be wrong.
  6. 1 point
    Please let me know if I am posting in the correct place - have any investors here considered long-term private investment? In particular, in the agricultural sector. I have a keen agribusiness client who is enthused about establishing an organic/free-range poultry farm with many years business/agricultural experience in SA. He is not keen on subsidies/ gov programmes at the moment but is piece by piece building up a thorough business proposal to woo a private investor. With an economic climate that is a little cool right now how appealing is such a venture? How would such an investor be found?
  7. 1 point
    Products/ Services: NieuFoods is a supplier of Fresh Ice cream, Instant Ice cream powders, Juice powders, Fruit Juice Concentrates and Health foods like dehydrated vegetables and alternative flours. About us: NieuFoods is a company that's passionate about food and driven by innovation. We believe in being flexible to be able to adapt to ever-changing trends and needs of our customers. We supply both premium products as well as more affordable quality products. We have a passion for the health industry as well as Ice cream. For more information, please contact us on the below details. Location: The company is situated in Bellville, Cape Town. Website: www.nieufoods.com Contact nr: 071 351 5569 Email: [email protected]
  8. 1 point
    Hi there all I hope you all are well I am looking for a short term investment for 25 day period I have 300k to invest Something secured and something i can get the net payout after 25 days
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