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Cryptocurrency Trading Steps for Beginners

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Cryptocurrency trading can be a lucrative activity if done correctly. However, it can also be a risky endeavor, as the market is highly volatile and susceptible to manipulation. As such, it is important to take the time to educate yourself on the basics of trading before putting any money into the market.

The first step in cryptocurrency trading is to find a reputable exchange that offers the coins you want to trade. There are many exchanges available, but not all of them are created equal. Some exchanges are more reliable than others, and some offer better prices. It is important to do your research and choose an exchange that you can trust. You can visit our website for more information about crypto.

Once you have found a good exchange, the next step is to deposit funds into your account. Most exchanges allow you to deposit funds in a variety of ways, including through bank transfers, debit cards, and credit cards. Make sure to choose a payment method that is convenient for you.

Once your funds have been deposited, it is time to start trading. The first step is to choose the coin you want to trade. There are many different coins available on the market, so make sure to do your research and find one that fits your investment strategy.

Once you have chosen a coin, the next step is to decide how much you want to buy or sell. Cryptocurrency prices can be very volatile, so it is important to be careful when making this decision. It is also important to remember that you can always buy or sell a fraction of a coin, so you don’t need to invest a large amount of money at first.

After you have decided how much you want to trade, it is time to place your order. Most exchanges allow you to place orders manually or through automated trading bots. Automated trading bots can be helpful for beginners, as they allow you to make trades without having to constantly monitor the market.

Once your order has been placed, it is time to wait for it to be filled. This process can take a while, depending on the price of the coin and the liquidity of the exchange. Once your order has been filled, it is time to take your profits and move on to the next trade.

Look For Cryptocurrency Exchange

When you are ready to start trading cryptocurrencies, the first step is finding a good exchange. Not all exchanges are created equal, and some offer better prices or more coins than others. It is important to do your research and find an exchange that you can trust.

Most exchanges will allow you to deposit funds using a variety of methods, including bank transfers, debit cards, and credit cards. Once your funds have been deposited, you can start trading.

The first step in trading is choosing the coin you want to trade. There are many different coins available on the market, so make sure to do your research and find one that fits your investment strategy.

Once you have chosen a coin, the next step is deciding how much you want to buy or sell. Cryptocurrency prices can be very volatile, so it is important to be careful when making this decision. It is also important to remember that you can always buy or sell a fraction of a coin, so you don’t need to invest a large amount of money at first.

After you have decided how much you want to trade, the next step is placing your order. Most exchanges allow you to place orders manually or through automated trading bots. Automated trading bots can be helpful for beginners, as they allow you to make trades without having to constantly monitor the market.

Once your order has been placed, it is time to wait for it to be filled. This process can take a while, depending on the price of the coin and the liquidity of the exchange. Once your order has been filled, it is time to take your profits and move on to the next trade.

Fund Your Account

Once you have found a good exchange, the next step is to deposit funds into your account. Most exchanges allow you to deposit funds in a variety of ways, including through bank transfers, debit cards, and credit cards. Make sure to choose a payment method that is convenient for you.

After your funds have been deposited, you can start trading. The first step is to choose the coin you want to trade. There are many different coins available on the market, so make sure to do your research and find one that fits your investment strategy.

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Finance

Maldives Can Seize Opportunities to Boost Public Revenue, Make Public Spending More Efficient

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Maldives’ economy is on the road to recovery following the unprecedented shocks of COVID-19. Key reforms can enhance the quality of public spending, strengthen debt management and debt transparency and collect more revenues to finance the country’s development needs, according to the World Bank’s Maldives Public Expenditure Review (PER) launched today.

Much of the increase in public spending and debt over the past five years has financed investments in basic services and infrastructure, especially housing. While these investments can boost long-term growth, making public spending more efficient, transparent, and targeted towards the neediest groups, it is essential to contain the rapid rise in spending and debt. Such reforms are particularly important because Maldives’ economy is highly vulnerable to external shocks such as a global recession and climate change-induced natural disasters.

“This report supports the government’s efforts to reduce the risks to public finances and ensure that public money is well spent in order to secure a more resilient and prosperous future for all Maldivians,” said Hon. Ibrahim Ameer, Minister of Finance. “It will help us identify where and how public money can be better allocated to achieve the Jazeera Raajje vision, while supporting our ongoing and planned reforms to collect additional revenues.”

The PER identifies key reforms to help Maldives strengthen fiscal sustainability, including raising more revenues – especially from domestic sources – by, for example, reducing the Personal Income Tax threshold and gradually raising both the General and Tourism GST rates. The PER also identifies reforms needed to better manage public debt and guarantees. These include revamping the Fiscal Responsibility Act to include guarantees and more stringent monitoring of fiscal risks from state-owned enterprises.

“The Government of Maldives is already planning many reforms to improve the country’s fiscal health. These include raising GST rates, making public sector wages and pensions more equitable, enacting a Debt Law and revamping the Fiscal Responsibility Act,” said Faris. H. Hadad-Zervos, the World Bank Country Director for Maldives, Nepal and Sri Lanka. “The World Bank welcomes the recent proposed GST reforms and stands ready to support the Government to implement these and further reforms to achieve a more resilient and prosperous future for all Maldivians.”

Many of the reforms proposed in the PER intend to make the distribution of public spending more equitable. In the housing sector, for example, implementing income-based targeting would help improve the financial viability of the Rent-to-Own program while also promoting home ownership. As for public sector wages, the National Pay Commission could consider consolidating or eliminating most of the allowances that drive inequity and cap the overtime allowance. The new Public Service Pay Framework is a key first step in the right direction but strengthening wage bill controls and other related reforms is also needed to ensure that the reform is successful. Finally, reforms to eliminate ‘double pensions’ in the civil sector and improve the coverage of the pension system are needed to ensure that both current and future retirees can benefit from the generous scheme.

The Public Expenditure Review is a core analytical product of the World Bank which assesses the quality of government spending and identifies key fiscal reforms that countries need to undertake to achieve better growth and development outcomes. This is the first PER for Maldives since 2002.

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Major fall in global food prices for July, but future supply worries remain

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Food prices dropped significantly in July, marking the fifth consecutive monthly decline since hitting record highs earlier in the year in the wake of the war in Ukraine, the Food and Agricultural Organization (FAO) reported on Friday. 

The UN agency has published its latest eagerly awaited Food Price Index, the barometer that tracks monthly changes in the international prices of five food commodities: cereals, vegetable oils, dairy products, meat, and sugar. 

The index averaged 140.9 points in July, or 8.6 points down from June. The decline was led by double-digit percentage drops in the cost of vegetable oils but also cereals, with the recent UN-brokered deal on Ukrainian grain exports a contributing factor. 

Welcome but wary 

“The decline in food commodity prices from very high levels is welcome, especially when seen from a food access viewpoint,” said Maximo Torero, FAO Chief Economist. 

“However, many uncertainties remain, including high fertilizer prices that can impact future production prospects and farmers’ livelihoods, a bleak global economic outlook, and currency movements, all of which pose serious strains for global food security.”  

In July, FAO’s Vegetable Price Index decreased by 19.2 per cent compared to June, marking a 10-month low. International quotations for all oil types fell, the agency said, with palm oil prices declining due to prospects of ample export availability out of Indonesia, for example.   

Additionally, sunflower oil prices also dropped markedly amid subdued global import demand, despite continued logistical uncertainties in the Black Sea region. Vegetable oil values were also pushed down by lower crude oil prices. 

Black Sea export deal 

The Cereal Price Index also reflected an 11.5 per cent decline last month, though remaining 16.6 per cent above July 2021.  Prices of all cereals in the index declined, led by wheat.   

World wheat prices dropped by as much as 14.5 per cent, FAO said, partly in reaction to the Russia-Ukraine deal on grain exports from key Black Sea ports, and also because of seasonal availability from ongoing harvests in the northern hemisphere. 

July also saw an 11.2 per cent decline in coarse grain prices.  Maize was down 10.7 per cent, again due in part to the Black Sea Grain Initiative and increased seasonal availabilities in Argentina and Brazil. Additionally, international rice prices also declined for the first time this year. 

Sweet news 

The Sugar Price Index fell by nearly four per cent, amid concerns over demand prospects due to expectations of a further global economic slowdown, a weakening in Brazil’s currency, the real, and lower ethanol prices resulting in greater sugar production there than previously expected.  

The downward trend was also influenced by indications of greater exports and favourable production prospects in India. Meanwhile, the hot and dry weather in European Union countries also sparked concerns over sugar beet yields and prevented sharper declines. 

FAO further reported that the Dairy Price Index decreased 2.5 per cent “amid lacklustre trading activity”, yet still averaged 25.4 per cent above last July. 

While the prices of milk powders and butter declined, cheese prices remained stable, boosted by demand in European tourism destinations. 

Mixed picture for meat 

Meat prices also continued the downward trend, dropping by half a per cent from June due to weakening import demands. However, poultry prices reached an all-time high, boosted by firm import demand and tight supplies due to Avian influenza outbreaks in the northern hemisphere. 

The FAO Meat Price Index was also down in July, by 0.5 percent from June, due to weakening import demand for bovine, ovine and pig meats. By contrast, international poultry meat prices reached an all-time high, underpinned by firm global import demand and tight supplies due to Avian influenza outbreaks in the northern hemisphere.  

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Algeria: Strengthening Resilience to Better Address Future Shocks

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Nonhydrocarbon sectors in Algeria are expected to recover to pre-pandemic levels in 2022 and trade and budget balances will also show a marked improvement this year, according to the latest edition of the World Bank’s Algeria Economic Update.

Issued in French under the title Renforcer la résilience en période favorable (Strengthening resilience in favorable times), the report is part of a series of semi-annual publications aimed at analyzing economic development trends and the outlook for Algeria. The Spring 2022 edition reflects the data and information available as of June 17, 2022.

Supported by increased hydrocarbon production and exports, Algeria’s GDP is estimated to have recovered to its pre-pandemic level in the fourth quarter of 2021. The hydrocarbon sector and a stronger recovery in the services sector were the main drivers of Algeria’s economic growth in 2021. The economic rebound, however, suffered from a drop in agricultural activity and an incomplete recovery in the public manufacturing sector. Job creation also lagged and by the end of 2021, the number of registered jobseekers was significantly higher than the number recorded before the pandemic. Non-hydrocarbon GDP remained 1.6% below its 2019 level and inflation continued its upward trend, in part due to international factors. In response, the authorities have implemented a set of measures to limit the impact of such rising prices on the purchasing power of households, including the introduction of unemployment benefits for first-time job seekers.

The report finds that the continued rise in global hydrocarbon prices helped to offset the rise of certain imports, especially cereals, and erased the current account deficit, which allowed a relative stabilization of foreign currency reserves. The overall budget deficit narrowed in 2021, from 12% to 7.2% of GDP, mainly supported by hydrocarbon export revenues accruing to the budget, which increased by 36%.

Despite a rebound in Algeria’s economic activity, challenges remain, compounded by highly volatile oil prices and the uncertainty of global economy dynamics,” said Jesko Hentschel, World Bank Maghreb Country Director. “Going forward, pursuing reform efforts to boost private sector activity will be key to stimulate inclusive growth and to create jobs.”

The report projects that Algeria’s economic recovery will continue in 2022, notably supported by the return of nonhydrocarbon sectors to pre-pandemic levels of activity. Hydrocarbon exports are also expected to remain at a high level, generating a current account surplus and a marked increase in fiscal revenues However, a projected decline in hydrocarbon export prices and volumes in 2023-24, in a context of uncertainty surrounding the evolution of the global economy, could lead to a gradual deterioration in external and budget balances.

Finally, the report outlines how inflation is a growing concern in Algeria, as elsewhere. Prudent fiscal and monetary policies, as well as reforms promoting more competition, will help limit inflationary pressures and support more inclusive and sustainable growth.

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