Toner Connects to Cryptocurrency

Like many industries influenced by changes in technology, banking and finance have evolved greatly in recent years. 

Most of our thoughts when it comes to banking have evolved or are completely different than they were a decade ago. 

This rapid change can be attributed to the internet and advances in technology, which have made transfers of large sums of money very easy and incredibly fast. 

Banking and finance have now entered into the digital world, creating its own currency and economic models, complete with a trading platform and market. 

Cryptocurrency is basically digital money which can be stored and exchanged completely online. Transactions are verified through a central ledger system, with users’ identities held privately and encrypted. These currencies have exploded in growth over the past 5 years, some to the tune of a 1,000% or more increase in value. 

Some of the most popular cryptocurrencies like Bitcoin are worth nearly $4,000USD each, which can make investing in them both difficult and intimidating.

What does this mean for you? Why are you reading about cryptocurrency on the Toner Connect blog? 

There are a couple of key connections here:

1.     Investing in cryptocurrencies can be very risky. Using funds that have been earned from selling toner means that any losses will not impact other parts of your business or budget.

2.     There are times when people will want to store things like Bitcoin “offline”. This can be done by printing the currency and basically creating paper money. High-quality toner and paper are essential to making this work.

Put Savings to Use

Whether you’re selling the unused toner you have lying around or buying resale toner, you will end up with savings that can be used elsewhere, either in the business or in other areas. 

Businesses generally have a budget line specifically for things like printing-related expenses, which include the costs of staying stocked with quality toner. 

Money saved in this area can be moved to other areas of the business, saved, or invested, which leads us to the cryptocurrency discussion. 

When you end up with savings on a line item in the budget, even small, this can sometimes feel like free money. 

While we all know that isn’t true, it can be put to use as free money without negatively impacting the rest of your budget. 

Cryptocurrencies, like all other investment tools, can be very risky if you’re jumping in blindly. 

There are some very well established “brands” in the space, like Bitcoin, Ethereum, and (yes) Dogecoin, so there will be some research needed to find the one(s) that meet your needs. 

Another avenue to research is index investing, which looks and behaves just like the index funds you can trade on the stock market or probably have in your 401K somewhere. 

As with all investments, it would be dangerous to view these types of things as get rich quick schemes. 

While cryptocurrencies have seen explosive growth, some doubling or more in a very short period of time, they can sometimes fall just as quickly. 

In almost any other situation, that risk is enough to make most companies run for the hills, but with the investment funds coming from surplus budget dollars, in this case, the losses may not sting as much if they come.

Printing Paper Wallets

The other big way that the toner world collides with cryptocurrencies is in the creation of what is known as a paper wallet. 

While these types of currency are nearly all based online, many people choose to print a paper certificate that they can store just like cash. 

Security issues aside, storing something like Bitcoin on a piece of paper requires quality toner and super high-quality paper. 

You’re basically minting your own paper currency by doing this, so printing something that will stand the test of time is important. 

Since toner uses plastic that is melted onto the page using heat, it does not degrade as quickly over time as ink does. 

Combined with heavy cotton paper, genuine toner will produce a paper wallet that is ready to hold up for a long time to come.

Even though cryptocurrencies have been around for a while now, they haven’t really become mainstream. 

Given how hard it is even for banks to get all of their customers to use a mobile app or online banking, this isn’t surprising.  

But what is shocking is the explosion of value that currencies like Bitcoin have shown recently. 

It’s a hard thing to ignore, but investing in digital currencies comes with a healthy dose of risk. 

Taking precautions with research and studying the market is the best approach, and using savings from purchases of toner to use for seed money is a great way to jumpstart your investments.

Investing in cryptocurrency can be an easy way to make money; so can selling your unused toner to us