Investing in Automobile Warranties

Automobile warranties are a great investment to make. We all know that sometimes our automobiles can break down at any time. Automobile repairs can be very serious and can require hundreds, or even thousands of dollars to pay for them. In today’s economy many Americans cannot afford to make the necessary car repairs for their automobiles because of the immense repair costs.

Getting a warranty on your automobile can protect you from having to pay most, or if not all of your necessary automobile repair costs. You can obtain an automobile warranty through your automobile’s manufacturer, or you can ask your local car dealership about warranties. Most new automobiles come with some type of automobile warranty called a factory warranty, but you can always purchase an extended warranty when your current automobile warranty expires.

There are two different types of warranties for automobiles; the power train automobile warranty and the bumper to bumper warranty. The bumper to bumper automobile warranty covers most of the car’s parts except those that need repair due to constant use and wear such as tires, wind shield wipers, brakes, brake pads etc. This can be a good warranty to have because it covers the most expensive repairs that might arise. The downside is that you still have to pay for the repairs that are caused by wear, but it is still a good warranty to have because it protects you from larger problems.

The power train automobile warranty covers all the moving parts of the automobile such as the engine and transmission. This is a great type of warranty because a transmission can cost over $3,000 to repair and if your engine goes as well, it is just as expensive, if not more expensive than replacing a faulty engine.

The bad thing about purchasing a new automobile, is that even if the car cannot work mechanically, you will still need to make the monthly payments that you agreed to when purchasing the vehicle. If you purchase a warranty or an extended warranty on your automobile then you are protecting your investment. You don’t want to have to make monthly payments on an automobile that is parked in your front yard because you cannot pay for the necessary car repairs on top of your monthly car payments. When you go to buy your next automobile, consider purchasing a warranty if your automobile does not come with one. You will be grateful when you need a car repair and your coverage takes care of the expenses. Any warranty pays for itself in the long run.

Bond Mejeh produces automotive related articles for Quick Cash Auto, a cash for cars service. Quick Cash Auto not only buys pre-owned vehicles of any year, make or model, but they also provide numerous articles about vehicle repair and automotive news.

Distracted Driving Is a Bigger Problem Than We Thought

The numbers do not lie: 37,150 people in the US died due to distracted driving in 2017. But, sadly that is not the worst part of the news. Researchers are finding that there is no single cause to preventing distracted driving.

This means that there is no direct route to a solution resulting in more and more deaths. Right now, the only thing proven to work is to spread awareness about distracted driving.

Another thing that experts are deciding to try is how to make smartphone connectivity to cars to take less attention. Almost every new car on the market makes it easy to connect your phone to your car.

You are able to stream music, map directions, and in some cases even order food, coffee, etc. This is taking many drivers’ attention away from the road, in drivers aged 17 to 22 spend at least 12% of their time behind the wheel messing with their smart phones. Any percentage of time on your phone behind the wheel is too much time directed away from the road.

Both Apple and Android have their own extensions for cars. At one point Apple demanded more of customers’ attention than the Android version when entering directions and getting from one place to another. But, when it came to texting Android was by far more of a distraction. However, both must make a change to reduce the threat of distracted driving.

With all of the new tech in cars, come inward facing cameras. Some people are not okay with that for privacy reasons which is understandable as to a degree, it is a basic right, in most peoples’ eyes. However, these cameras may help develop self-driving cars with the data it collects. Additionally, it may be our answer to solving the distracted driving epidemic.

The data the cameras collected from crashes and everyday driving habits can be analyzed by experts to determine how to make the new technology in vehicles less cognitively demanding or even develop an algorithm to prevent inappropriate use while the vehicle is in motion.

But, how much privacy are consumers really willing to give up? How much of their data are companies entitled to? Right now, there is not much regulation, but it is probably coming soon as new cars will soon all have this technology.

There must be some type of compromise because when this data is used appropriately, breakthroughs can happen. For example, a lot of the tracking built into these cars can prevent crimes. A lot of the data provided can solve the mystery of crashes, including distracted driving crashes and provoke ideas on how to prevent them. The results can save money on auto insurance, medical bills, and most importantly lives which are priceless.

What Is an ICO in Cryptocurrency?

ICO is short for Initial Coin Offering. When launching a new cryptocurrency or crypto-token, the developers offer investors a limited number of units in exchange for other major crypto coins such as Bitcoin or Ethereum.

ICOs are amazing tools for quickly raining development funds to support new cryptocurrencies. The tokens offered during an ICO can be sold and traded on cryptocurrency exchanges, assuming there is sufficient demand for them.

The Ethereum ICO is one of the most notable successes and the popularity of Initial Coin Offerings is growing as we speak.

A brief history of ICOs

Ripple is likely the first cryptocurrency distributed via an ICO. At the start of 2013, Ripple Labs began to develop the Ripple payment system and generated approximately 100 billion XRP tokens. These were sold through an ICO to fund Ripple’s platform development.

Mastercoin is another cryptocurrency that has sold a few million tokens for Bitcoin during an ICO, also in 2013. Mastercoin aimed to tokenize Bitcoin transactions and execute smart contracts by creating a new layer on top of the existing Bitcoin code.

Of course, there are other cryptocurrencies that have been successfully funded through ICOs. Back in 2016, Lisk gathered approximately $5 million during their Initial Coin Offering.

Nevertheless, Ethereum’s ICO that took place in 2014 is probably the most prominent one so far. During their ICO, the Ethereum Foundation sold ETH for 0.0005 Bitcoin each, raising almost $20 million. With Ethereum harnessing the power of smart contracts, it paved the way for the next generation of Initial Coin Offerings.

Ethereum’s ICO, a recipe for success

Ethereum’s smart contracts system has implemented the ERC20 protocol standard that sets the core rules for creating other compliant tokens which can be transacted on Ethereum’s blockchain. This allowed others to create their own tokens, compliant with the ERC20 standard that can be traded for ETH directly on Ethereum’s network.

The DAO is a notable example of successfully using Ethereum’s smart contracts. The investment company raised $100 million worth of ETH and the investors received in exchange DAO tokens allowing them to participate in the governance of the platform. Sadly, the DAO failed after it was hacked.

Ethereum’s ICO and their ERC20 protocol have outlined the latest generation of crowdfunding blockchain-based projects via Initial Coin Offerings.

It also made it very easy to invest in other ERC20 tokens. You simply transfer ETH, paste the contract in your wallet and the new tokens will show up in your account so you can use them however you please.

Obviously, not all cryptocurrencies have ERC20 tokens living on Ethereum ‘s network but pretty much any new blockchain-based project can launch an Initial Coin Offering.

The legal state of ICOs

When it comes to the legality of ICOs, it’s a bit of a jungle out there. In theory, tokens are sold as digital goods, not financial assets. Most jurisdictions haven’t regulated ICOs yet so assuming the founders have a seasoned lawyer on their team, the whole process should be paperless.

Even so, some jurisdictions have become aware of ICOs and are already working on regulating them in a similar manner to sales of shares and securities.

Back in December 2017, the U.S. Securities And Exchange Commission (SEC) classified ICO tokens as securities. In other words, the SEC was preparing to halt ICOs they consider to be misleading investors.

There are some cases in which the token is just a utility token. This means the owner can simply use it to access a certain network or protocol in which case they may not be defined as a financial security. Nevertheless, equity tokens whose purpose is to appreciate in value are quite close to the concept of security. Truth be told, most token purchases are made specifically for investment purposes.

Despite the efforts of regulators, ICOs are still lingering in a grey legal area and until a clearer set of regulations is imposed entrepreneurs will attempt to benefit from Initial Coin Offerings.

It’s also worth mentioning that once regulations reach a final form, the cost and effort required to comply could make ICOs less attractive compared to conventional funding options.

Final words

For now, ICOs remain an amazing way to fund new crypto-related projects and there have been multiple successful ones with more to come.

However, keep in mind everyone is launching ICOs nowadays and many of these projects are scams or lack the solid foundation they need to thrive and make it worth the investment. For this reason, you should definitely do thorough research and investigate the team and background of whatever crypto project you might want to invest in. There are multiple websites out there that list ICOs, we recommend checking this ICO calendar if you’re interested to invest in a crypto project.