In Japan, it’s been possible to have monthly salaries partially paid in Bitcoin since well before the cryptocurrency’s first big price spike at the $20,000 level in December 2017. As regular visitors to this News site will know, we see cryptos as a key component of the financial future.
The research used Google Trends data to look at where the topic “non-fungible token” – which includes – which includes variations in language/characters and different search terms related to the topic – was most popular.
Coming out on top was China – where Google is technically blocked. The next four spots in the top 10 were all in the Asia Pacific region, with high interest in Singapore, Hong Kong, South Korea and Australia.
Khashayar Abbasi, Bankless Times contributor and founder of the analysis newsletter Crypto With Kash, commented: “Asian countries are typically more used to cashless and digitised systems than western ones, so this could be why their adoption of NFTs has been so widespread.”
“China’s Alibaba, one of the world’s largest companies, has launched its own NFT marketplace as well.
“Meanwhile the country recently banned cryptocurrency trading, which could see crypto-keen investors move over to NFTs.
Historical Performance And IFISA Process Guide
That figure is the result of over £24 million of loans facilitated on the site, as we bring individuals looking for a good return on capital together with carefully vetted small companies seeking funds for growth. Bear in mind that lenders’ capital is at risk. Read warnings on site before committing capital.
All loans on site are eligible to be held in a Money&Co. Innovative Finance Individual Savings Account (IFISA), up to the annual ISA limit of £20,000. Such loans offer lenders tax-free income. Our offering is an Innovative Finance ISA (IFISA) that can hold the peer-to-peer (P2P) business loans that Money&Co. facilitates. For the purposes of this article, the terms ISA and IFISA are interchangeable.
So here’s our guide to the process:
The ISA allowance for 2020/21 is unchanged from last tax year at £20,000, allowing a married couple to put £40,000 into a tax-free environment. Over three years, an investment of this scale in two Money&Co. Innovative Finance ISAs would generate £8,400 of income completely free of tax. We’re assuming a 7 per cent return, net of charges and free of tax here.
Once you have made your initial commitment, you might then consider diversifying – buying a spread of loans. To do this, you can go into the “loans for sale” market. All loans bought in this market also qualify for IFISA tax benefits.
Risk: Security, Access, Yield
Do consider not just the return, but the security and the ease of access to your investment. We write regularly about these three key factors. Here’s one of several earlier articles on security, access and yield.