The Science of Compound Interests (1)

From where we left off last time as we weighed the pros and cons of investing and savings, one thing that makes investing stand out is because of compound interests. As such, we are about to explore different aspects of it today!

Ever wondered about the magnificent snowball effect? This is actually how compound interest works! Similar to a snowball, the calculation of compound interest takes your capital together with the interest rate into account every time, so that it keeps snowballing and multiplying all the way through your investment timeline. This method of earning is relatively passive, but slurping in a huge sum of money in the long run. Hence, the longer the investment, the larger the compound interests. Apart from this solid fact, the power of it might as well depend on different factors, namely interest rates, taxes and time.

  1. Interest rates

    The sum investors earned through saving or investing, presented in percentage.

  2. Taxes

    Your earnings directly affect your tax payment. In this case, there is a positive correlation between your income and tax payment. So ameteur investors might have to find the equilibrium of these two.

  3. Time

    This indicates your investment timeline. As a longer time frame allows an increasing chance for the snowballing effect to take place, the benefits of long-term investing are unquestionable.

Referring to the diagram below, we can gain a further insight of the benefit mentioned. Take $1,000 and an interest rate of 10% as an example, within the first 10 years, the magic of compound interest has already flipped your capital of $1,000 to $2,600! What’s more wide-eyed is, your earnings could potentially reach $789,700 70 years later. Thus, long-term investing is definitely your key to success.

After getting to know the sorcery of compound interest, we are off to exploring other examples next week. Follow our social media to stay in the loop!

Source: https://wealth.visualcapitalist.com/visualizing-power-compound-interest/

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Gold

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Bitcoin

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tiips 自2019 年創立至今,2020年完成種子輪融資,唯2021年第四年仍未能籌得新一輪融資,我們作出了艱難的決定,將於2022年2月21號 23:59 終止tiips mobile app 的運作。

我們目前的首要任務是確保用戶積分換取資產及實金買賣服務暢順度及公平性,我們將會分階段停止tiips mobile app 的功能及運作。

實金之安全性

所有客戶的黃金儲存於Tiips Services limited。Tiips Services Limited 是獨立第三方信托人,信托或公司服務提供者牌照號碼為TC007559,客戶的黃金儲存於張氏金業有限公司Tiips Services Limited 的戶口。

Bitcoin的安全性

客戶的Bitcoin存量是儲存在Tips Dollar (HK) Limited 擁有的cold wallet。

時間表如下:

31/12/2021 23:59 停止買入實金。

1/1/2022 00:0021/2/2022 23:59 tiips 積分換取資產及賣出實金及Bitcoin 如常進行。而我們將會用 ”買入價” 回購客戶的資產,已回饋客戶多年來的支持。

21/2/2022 23:59 tiips mobile app 停止運作。

1/3/2022 00:0030/11/2022 23:59 人手處理顧客剩餘現金。客戶的剩餘資產將會用2/21/2022 23:59 當刻價格賣出,而相關金額我們會幫顧客保留,而我們將會用電郵方式確認客戶剩餘之金額,客戶可電郵[email protected]Whatsapp 93889879辦理手續領取現全,該現金我們會用FPS 轉賬,手續費維持港幣$3。

1/12/2022 00:0031/12/2022 23:59 我們會將所有顧客未領取的現金捐贈致愛護動物協會。

儘管tiips mobile app 將終止營運,我們往後會集中開發機構客戶市場,以延續寓消費於儲蓄的理念。

在此,我們衷心感謝所有在過去三年一直支持tiips的用戶、合作商戶及合作夥伴。

tiips was established in 2019 and accomplished its seed funding in 2020. It was with regret that we were still unable to receive the funding for the new round in 2021. Thus, we have unfortunately come to the decision to cease the operation of the tiips mobile app on 21 February 2022 23:59.
To ensure the smooth facilitation and fairness in user points & assets redemption and gold trading, we will close down the functions of tiips mobile app according to different phases.

Safety of Gold

All users’ gold is now stored in Tiips Services Limited, account provided by Cheung’s Gold Traders Limited. Tiips Services Limited is an third party trustee, which its Trust or Company Service Provider Licence number is TC007559.

Safety of Bitcoin

All users’ Bitcoin is now stored in the cold wallet owned by Tips Dollar (HK) Limited.

Timeline as follows:

31/12/2021 23:59 Gold purchases will be suspended.

1/1/2022 00:00 to 21/2/2022 23:59 tiips reward & assets redemption, gold selling and Bitcoin trading will be operated as usual. To express our gratitude throughout the years, tiips will purchase users’ assets at the “BUY PRICE”.

21/2/2022 23:59 tiips mobile app will be ceased to operate.

1/3/2022 00:00 to 30/11/2022 23:59 tiips will manually proceed the users’ remaining cash. Those assets will be sold at the price as of 21/2/2022 23:59, while we will keep the amount of money and email the customers for further confirmation. Customers may email us at [email protected] or Whatsapp 93889879 to collect the cash. The payment will be performed through FPS, and tiips will keep the handling fee at HKD 3.

1/12/2022 00:00 to 31/12/2022 23:59 tiips will donate all the uncollected cash to The Society for the Prevention of Cruelty to Animals (SPCA).

The tiips mobile app might have suspended its operation, nevertheless tiips will continue to expand its corporate market, to sustain the belief in combining spending and saving in the future.

Last but not least, we would like to express our heartfelt gratitude for the support from tiips’ users, merchants and partners over the past three years.