WHAT IS CRYPTOCURRENCY?
Cryptocurrency is digital money people use as investments and for online purchases. The investor exchanges real currency, (such as U.S. dollars) to buy “coins” or “tokens” of a cryptocurrency. This digital money can only be used at a select (but growing) number of merchants. Cryptocurrency is unique because it’s decentralized and not regulated by any government or institution.
What are the most popular cryptocurrencies?
- The first and most valuable cryptocurrency by far, Bitcoin was created in 2009. As of this writing on May 24, 2021, one Bitcoin is valued at $37,742. At its peak in mid-April, it was $63,233.
- The second-most popular cryptocurrency is also mineable, which means it allows users to use computers to solve complicated math problems to verify when other crypto transactions are complete. Miners are paid in Ether coins.
- The crypto that started as a 2013 joke has been dominating financial headlines since the start of the year, thanks to its incredible YTD gains (6072.52% at the time of this writing) and frequent tweets by Tesla’s CEO, Elon Musk, about its future and current value.
Why is cryptocurrency so volatile?
Cryptocurrency’s decentralization also makes it extremely volatile; with no regulation, demand and supply can drive the price of a cryptocurrency through the roof or plummeting to the ground, practically overnight. Recently, viral tweets by billionaire investors, as well as new regulations by the Chinese government, have been dramatically affecting the cryptocurrency market.
Why you may not want to invest in cryptocurrency
Before you pour your life savings into cryptocurrency, consider these factors:
- Cryptocurrency is inherently unstable.
- Cryptocurrency is still a big unknown. Heck, no one even knows who founded Bitcoin!
- Cryptocurrency is often targeted by scams. The FTC warns that crypto’s decentralization means the U.S. government has no obligation to step in and help victims of crypto fraud.
Reasons to consider investing in cryptocurrency
With all the risks involved, you may still want to invest in cryptocurrencies. First, cryptocurrency provides investor portfolios with diversification. Second, cryptocurrency has the potential for outstanding long-term performance. The cryptocurrency market has performed incredibly well over the past decade, and that makes investors confident that similar gains will be enjoyed by those who put their money in cryptocurrency over the next decade as well.
This information on cryptocurrency is provided for educational and informational purposes only. It is not intended to be and does not constitute financial advice, investment advice, trading advice or any other advice. Please consult with a profession broker or financial advisory.
Each week beginning on October 16, members will have a chance to win $500 just by using their MVFCU VISA debit or credit card!
Members will automatically receive one (1) entry into the weekly drawing for each Matanuska Valley Federal Credit Union Visa® debit card transaction greater or equal to $50.00 (fifty) dollars that posts during that week, and two (2) entries for each Matanuska Valley Federal Credit Union Visa® credit card transaction greater than or equal to $50.00 (fifty) dollars that posts during that week.
By entering the Promotion, each entrant accepts and agrees to be bound by the Official Rules. No purchase necessary to enter or win. ATM cash advances and payments are excluded from entry. Individuals may also enter one time per week by providing name, address, email address and phone number on a 3x5 card and mailing it to:
Matanuska Valley Federal Credit Union
Attention: $500 FRIDAY
1020 S. Bailey Street
Palmer, Alaska 99645.
Promotion will run from October 16, 2022 through December 24, 2022.
Visit: WWW.MVFCU.COOP/500FRIDAYS for a complete listing of Official Rules and details!
MVFCU offers account access for most banking transactions from ANYWHERE! Don’t have time to visit a Community Office … take advantage of the following ANYWHERE ACCESS opportunities!
1. MV Mobile Ap
Experience the freedom of accessing your account wherever you are. Quickly transfer money, check balances, pay bills, and more from the convenience of your smart phone or tablet!
- It's Simple: enhanced user experience with a whole new look and feel and quick action buttons for popular functions.
- It's Secure: from logging in using your fingerprint to managing your access code, we've made your mobile banking experience totally secure.
- It's Convenient: access your account from any mobile device anywhere, anytime.
2. Remote Deposit Capture (RDC)
Deposit your check remotely using your mobile device.
It’s as easy as the following …
- Sign the back of the check with your signature
- Write "For mobile deposit only at MVFCU" on the back of the check
- Write your account number on the back of the check
- Login to MV Mobile
- Choose the account you want the deposit to go into
- Enter the dollar amount of the check
- Take pictures of the front and back of the check
- Submit the Check for Deposit
3. MV Online Account Access
Manage your MVFCU account from any computer. All you need is an Internet connection and a user name to start enjoying benefits like:
- Transfer funds
- Check balances and account history
- eStatements: view and print monthly statements
- eAlerts: get notified of important account activity
- Bill Pay: pay your bills online.
- Open a Certificate account
- Make loan payments
- Stop checks
- Order checks
- View and print check images
Questions? Get started by giving our Virtual Community Office a call at 907-745-4891.
SLEIGH BELLS ARE RINGING!
When the holidays roll around, it’s easy to get carried away in the season of giving. Putting others before yourself doesn’t have to mean making a hasty financial move you might regret later ... even for the big things.
Consider a Holiday Signature Loan.
Apply today at your local Community Office or Visit www.mvfcu.coop/holidayloans for details
From all of us at MVFCU, we wish you Peace and Joy this holiday season.
UPDATE TO FEE SCHEDULE
IMPORTANT INFORMATION Fees and Service Charges Periodically there are changes to the MVFCU fee schedule. Please consult www.mvfcu.coop or your local community office for a current listing of the fees and service charges as of November 1, 2022.