The Thrill of Penny Stocks

Investing in stocks has always been a risky job, and some people happen to naturally be good at it. Plus, the way we choose to invest and buy stocks has also changed overtime, and now buying online stocks through cryptocurrency has become very popular and is something being practiced all over the world, with a lot of people and companies managing to rake in millions of dollars every month. If you check Tim Sykes Forbes.com, you will find that he is listed to be amongst one of the many people who have managed to earn million by trading through penny stocks, a newer form of trade.

While traditional stocks do happen to carry risks with them, penny stocks are considered to be even riskier, and it is because of the high risk that comes with penny stocks that a lot of people tend to avoid them. However, penny stocks happen to carry a lot of advantages with them, and this ends up attracting a lot of people as well.

Penny stocks involve you buying shares from small, new companies, so there is a risk that comes with investing in smaller, lesser known companies since your shares can end up setting you up for failure. This is because penny stocks are very volatile, so they fluctuate really quickly. For instance, there can be up to a 100% increase in the first 24 hours after you invest, and then a sudden drop in the stock out of nowhere. However, if you manage to sell before the drop, you are able to bring in a lot of money at once. There is also the fact that since penny stocks only require you to pay $5 to buy a single share, you are able to buy a number of shares in a lot of different companies.

Dealing With Foreign Currency Exchange

It does not matter if you are a tourist or if you happen to be working a job that pays you in foreign currency because at the end of the day, both of you rely on foreign exchange places to convert your foreign currency to local currency. Now, if you want to get your currency exchanged, your number one priority should be to have a transaction that is more beneficial for you, because you want to have a good exchange rate. Now, in order to do that every time, you have to keep a few rules and things in mind.

  • Foreign exchange rates tend to fluctuate every single day, in fact, they can even change hourly, so you need to check rates every single day so that you can get a rate that is more favorable for you.
  • Do not get your foreign exchange done from a bank, because banks will try to maximize their own profit as well, so there are fees that need to be paid. Whereas, by getting your currency exchanged at a foreign exchange place, you can end up getting up to 2% more, and if you are dealing with large currency exchange, then it can be a really big amount.
  • Not every foreign exchange place has the same price, in fact, there are some that will give you a much better price than others, and that is something that requires effort on your part because you will have to go and seek them out. So, for instance, you should not jump at the first foreign exchange place in Toronto that you find, rather, you should look around and see other place‚Äôs exchange rates as well, and if they happen to offer a better price than other places, you can get it exchanged from them.