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Bitcoin Price: How Is It Formed and Will It Rise in the Future?

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What is the first thought that comes to your mind when you hear the name Bitcoin? Most traders associate it with an incredible jump in price in the first place. Within a period of 10 years, its value grew from a few cents to around $70,000. And that is the key fact that propels the demand for it. Yet, due to all sorts of gossip and false prejudices, many beginners cannot dare to make such an investment and miss considerable profits.

Bitcoin was the first cryptocurrency to enter the market. This event took place more than a decade ago ― in 2008. So, over this period, traders and investors had an opportunity to make sure that this asset was substantial enough. Its value and impact keep on growing year after year. Yes, there are certain perturbations from time to time, but the situation recovers stability every time as well.

It is well-known that this crypto is decentralized and cannot be controlled by any governments and banks. Then, how is the Bitcoin price formed? There are 8 factors:

1. Long-term investment volumes. The higher demand, the higher the rate.

2. Short-term trading activity. This crypto is characterized by increased volatility, which allows speculators to make good money from its daily fluctuations. Every day, one can watch billions of bubbles and liquidations in the corresponding charts. That provokes extra fuss and panic, which attracts more traders and pushes the rate higher and higher.

3. Development of decentralized finance. New inventions in the sphere of blockchain contribute to the value of this crypto.

4. Popularization of Bitcoin as a payment means. It is already supported by PayPal, Visa, and Mastercard.

5. Decisions and announcements made by governmental bodies and politicians. Although they cannot have a direct influence on its rate, such news makes a huge fuss.

6. Statements made by celebrities, big businessmen, and influencers. The most commonly known example is Elon Musk.

7. Reductions in refunds paid to miners. Such procedures are predetermined by the code of this crypto. They took place once in 4 years (approximately). And, according to statistics, within 1.5 years after such a reduction, the price of the crypto grows by several times. So, for the latest time, it was executed in May 2020. At that point, the rate was around $10,000. And 1 year later it reached $60,000.

8. Growth of its user base. The more wallets, the higher the value.

In sum, as of now, there is no single opinion on whether the rate of this coin will move upwards or downwards, although there are many proofs in support of the first variant.

Bitcoin for Dummies: Is It Worth Investing?

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As of now, Bitcoin is the oldest, the most well-known, and the most valuable crypto on the market. Hence, it attracts interest from both professional traders and beginners. That is why we have decided to compile a simple guide that will be easy to understand to everyone, regardless of the experience in trading.

To start with, Bitcoin is a digital currency, it does not have any paper or metal counterparts. It is used in electronic form for executing online transactions mainly. In practice, such a coin is a system of symbols, which is included in the general network. It operates on a person-to-person basis. In other words, users can sell and buy this crypto directly without any intermediaries or regulatory bodies.

Another important fact ― this network is created using blockchain. To explain the technology of Bitcoin for dummies, one can compare it with a ledger, where each record is a block. Every new entry in this chain is connected with a previous one with the help of crypto ciphers, which is why this asset is called a cryptocurrency. The system is decentralized, and every owner of such digital coins has a copy of a general ledger.

It is accessible to everyone and at any time. Its code is published publicly. Its participants keep on mining new coins via complex calculations on computers, but the overall number of such assets is limited to 21 million so that there is no risk of inflation.

Also, it is a well-known fact that this crypto constantly grows in price. As of 2021, its price is almost $70,000. For comparison, its initial price in July 2010 was around $0,08. Obviously, investors expect it to keep on increasing in value in the future.

Here are 7 major pros of this asset:

1. All information about an owner is confidential and untraceable. However, today, if you want to register on a legitimate crypto exchange, you will have to disclose and confirm your identity.

2. The currency is decentralized and cannot be issued or expropriated by any governmental bodies or central banks.

3. It is 100% protected from hacking and breaking.

4. No inflation risks.

5. You can use it to legally pay for diversified goods. And the list of countries, which plan to legalize this crypto, is constantly extended.

6. Experienced traders often invest in it to diversify their portfolios, along with stocks and bonds.

7. You can make decent profits from its price fluctuations (which are rather frequent).

So, where to buy it? We recommend the Binance and Coinbase exchanges as they offer a huge selection of coins, low trading fees, easy-to-use functionality, and advanced protection of your funds.

In sum, if you decide to extend your portfolio with crypto, Bitcoin is one of the safest choices as it possesses high liquidity and outstanding potential for further growth in price.

Where and How to Invest in NFT Tokens?

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Now, many traders are excited about a new type of token ― NFT. These unique assets seem quite promising, although one cannot trade them in a casual manner like other types of crypto. So, in case you are interested in innovations, we recommend you familiarize yourself with NFT right away.

The first point is to understand what NFT is. It is interpreted as a non-fungible token. Its distinctive feature is that it is used to encrypt unique information, for example, an exclusive photo or painting. And that means that there are no two identical NFTs. Consequently, they are not interchangeable. In other words, you cannot sell them and buy them back like Bitcoin or Ether. They are not meant for conventional trading. Instead, investors buy them to obtain the right for a piece of art, music, image, gaming tools, domain names, real estate, etc. In practice, any intellectual or physical object can be transformed into a unique token.

As for the value of such assets, it can reach unbelievable heights. For example, Jack Dorsey, who is the CEO of Twitter, has managed to sell his first tweet encrypted in an NFT for about $3 million. Obviously, investors buy such assets expecting them to dramatically grow in price over some time. It is usually a long-term investment.

Where to buy NFT tokens? They are not sold via usual cryptocurrency exchanges. Instead, you must find a specialized online marketplace. Such platforms work similarly to Amazon. You can buy an NFT selected just by pressing the “Buy” button and making the corresponding payment. But some of them are sold via auction procedures. Then, you will have to make the highest bet to obtain an asset chosen. Another important detail ― payments are usually accepted in cryptocurrency: Ethereum, Bitcoin, and others.

Now, to make your choice easier, we have determined the top 10 NFT marketplaces for you: Binance NFT, OpenSea, Alibaba NFT, Axie Infinity, SuperRare, Rarible, Foundation, Nifty Gateway, KnownOrigin, Sorare.

But, where to store NFTs after a purchase? There are two options: you can either keep your assets in your account on the same marketplace or transfer them to your crypto wallet (depending on the technology used for creating the NFT).

To sum up, an NFT is a great object for long-term investments. Yet, like with other collectibles, there is a risk that the asset bought will drop in price. Thus, stayaware.

Webull Crypto: How to Use It?

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Do you want to diversify your trading portfolio with cryptocurrency? Then, we recommend you get an account on Webull, in case you do not have it so far. It is a number-one choice for novice crypto traders. Do you want to know why? Find all the answers below.

Let us provide the key pros of buying crypto on this online broker service:

·   0% trading commissions (the spread is 1%, which is standard for all brokers);

·   direct trading (instead of futures offered by other platforms);

·   extended trading hours ― 23 hours per day and 7 days per week;

·   immediate settlement;

·   fractional coins are available with a $1 minimum purchase limit;

·   an extensive range of coins, including Bitcoin, Ethereum, Dogecoins, Cardano, Uniswap, Litecoin, Stellar, and others;

·   price quotes of other coins that are not available for trading;

·   demo trading with virtual funds for new users;

·   free-of-charge ETFs, stock, and options trading;

·   helpful and comfortable customer support, which is accessible 24/7;

·   a good selection of profound educational materials and easy-to-use research instruments.

Are you ready to give Webull Crypto a try? Then, follow our guidelines:

1. Register an account on their website or via their mobile app (which is even easier). Press “Get Started” and type your email address and password. The next step is email confirmation.

2. Pass verification. This is a must on any legal crypto exchange, so be ready for that. You will need to take a photo of any of your IDs.

3. If you plan to invest in cryptocurrency, choose between a margin and a cash account.

4. Wait for your account to get approved (as a rule, it takes one working day).

5. Get permission for buying crypto. To supply a request, press on the icon of the exchange, then choose “More” and “Crypto Trading”.

6. Deposit your balance. You can make use of a bank card, wire transaction, ACH transfer. This service is free of charge in most cases, but the procession can last several days. As for the sum, there is no minimum deposit limit on this platform, which is great news for those on a small budget. Yet, experts recommend starting with an initial capital of $100–200.

7. Go to the list of available crypto. Click on “Market” ― “Crypto”.

8. Make a purchase. Select the coin needed, choose a payment method, and confirm your request.

9. Now, you can watch the rate changes and your profits via the main dashboard.

In sum, one can safely say that Webull Crypto is the best option for beginners with limited experience and a meager budget. But, if you still have any doubts, you can start from a demo account, which is free of charge and risks.

Chatty cabbies likely to earn £5 more than silent drivers, new survey on taxi tipping finds

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The average UK taxi driver earns £3.22 in tips per trip – but there are some who earn more than others

The ‘silent ride’ option was hailed as a game-changer when it was introduced on taxi apps – but new research suggests Brits actually prefer having a chatty driver in the front seat after all.

According to a survey of 2,000 people commissioned by vehicle supply firm The Taxi Centre, 66% of taxi users said they’re more likely to tip sociable cabbies, and a quarter of these passengers said they’d tip more if they enjoyed the chat.

Data showed a number of factors can influence a passenger’s decision to part with extra money during taxi journeys.

For example, almost two thirds (65%) of survey respondents said they’d be more likely to tip a taxi driver for a longer journey (20 minutes or more) and/or late at night.

On average, Brits tend to tip their taxi drivers £3.22. Nearly a fifth (18%) said they would tip up to a fiver, while 19% said they would be happy to pay £5 or more.

Despite the shift towards bank payments in recent years, tipping still largely occurs in the form of cash – with 73% of taxi tippers saying they gave notes and change to the driver, with just 21% leaving money via an app. 

Conversely, nearly half (46%) said they would tip drivers more often if it was easier to do so via contactless payments, suggesting taxi tipping may be in need of a digital re-brand along with the service.

Rank Reason %
#1 Cash 73 per cent
#2 Online or app 21 per cent
#3 Neither of these 4 per cent

The Taxi Centre survey also showed that the amount of passengers who do not leave tips is very small. Just 5% said they never tip taxi drivers, and an even smaller number (2%) said they are less likely to tip a sociable driver.

The most common justifications for not tipping were taxis being ‘too expensive’ (41%), a belief that ‘it’s the driver’s job’ (32%), and ‘journeys don’t take long enough’ to constitute a tip (24%).

39% passengers said they agreed with taxis charging premium rates for late-night journeys or at peak times, whilst 31% disagreed.

Rank Reason %
#1 Taxis are too expensive anyway  43 per cent
#2 It’s their job 32 per cent
#3 I don’t take long enough to constitute a tip 24 per cent
#4 I never tip service workers 17 per cent
#5 I have never had a good enough taxi experience 11 per cent

Aside from being sociable, friendly and good conversationalists, taxi drivers may be able to generate bigger tips by offering passengers a hand with luggage, the survey has suggested.

Almost half of all respondents (48%) said they’d be happy to leave a tip for drivers who provided assistance with bags.

Others said they would fork out extra cash for taxi drivers that drove conscientiously (36%), picked up other passengers en route (33%), kept the car fresh-smelling (29%), or diverted the journey to visit a drive-thru (18%).

Rank Reason %
#1 Helping with luggage  48 per cent
#2 Conscientious driving 36 per cent
#3 Offer to pick up a friend on the way 33 per cent
#4 Fresh smelling vehicle 29 per cent
#5 Divert to a drive-thru 18 per cent

A Taxi Centre spokesperson commented: “It is wonderful to hear that the art of conversation isn’t dead after all!

“People still love to have a natter to their cabbies to pass the time, and this is exactly what our survey has proven. Being affable earns better tips, and that’s something we can definitely get behind here at The Taxi Centre.

“After a quiet year or so on the roads, we hope to see (and hear!) plenty of happy passengers getting back to enjoying their taxi journeys as we enter the next taxi season!”  

For further insights from The Taxi Centre, visit The Taxi Centre newsroom.

Get Help During Personal Injury Claims

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Personal injury claims, regardless of whether they are made on grounds of intent, negligence or strict liability, come down to proving liability and quantifying damages. In other words, we have to ask if a defendant is liable for damages sustained and if they are, what those damages are and how big they are. Proving liability and damages will ordinarily result in compensation. Personal injury claims are important because they allow victims who suffer from serious injury a way to recover any loss incurred.

Grounds for Personal Injury Claims

There are, as we said, three grounds for personal injury claims: intent, negligence or strict liability.

Negligence is the most common ground for claims. Negligence exists where a person’s failures to behave in a way that a reasonable person would judge as according to ordinary prudence. For instance, if a hunter were to carelessly fire his rifle into a crowd, that would be considered negligent.

Strict liability exists where a person is held liable for their actions, regardless of their state or mind or intentions when they performed them. For instance, if a person suffers an injury because of a defective product, the manufacturer can be held liable even if they were not negligent or intended to harm anyone.

Intentional wrongs are so when the defendant intentionally did something. Examples of intentional torts are assault, battery, false imprisonment, intentional infliction of emotional distress, and trespassing on land or chattels.

Causes of Action

Personal injury claims arise from harm done to a person’s body. For example:

  • Assault
  • Automobile accidents
  • Medical practice
  • Nursing home abuse
  • Product defect accidents
  • Workplace accidents
  • Toxic torts

Personal injury claims may also arise from non-bodily harm. Examples:

  • Defamation
  • False detention, arrest or imprisonment
  • Intentional infliction of emotional distress
  • Invasion of privacy
  • Malicious prosecution

Process for Seeking Compensation

Typically, a solicitor or personal injury specialist, will offer a client a free initial interview in which they will make a case assessment. Often, the client will be offered a conditional fee agreement in which the solicitor or personal injury specialist will fund the claim and only get paid if they win the case. This is why a conditional fee agreement is also referred to as a “no win, no fee” agreement. This puts your personal injury specialist’s skin in the game, so that their interests are aligned with yours and you have the freedom to pursue a claim without worrying about costs. The potential costs of seeking compensation are one of the reasons why so many people never seek compensation, even though there exist options such as conditional fee agreements.

Most cases are resolved through negotiation. This is because both sides have incentives to not let a case go to the courts. The defendant is afraid that in the courts, they may face a larger compensation than what they can lock in during negotiations. The victim often needs the money urgently, so does not want to draw things out in court, where they also face the possibility of an adverse ruling. The result is that negotiated settlements are fairly common.

Time to Receive Compensation

The severity of the initial injury and the category that injury falls under, determines how long a person has to wait till they get their compensation. Slight personal injury cases, which have been dealt with through the Ministry of Justice’s portal, are typically resolved within three to nine months and involve payouts of up to £25,000.

Clinical negligence, to give an example of a more long-drawn out process, can take several years to resolve. This is because the victim’s prognosis is often difficult to determine and gathering all the evidence and correctly assessing it is complex and time-consuming.

Together and Apart: Communication Tips for Remote Team

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Remote work is here to stay. Sure, some younger folks prefer this type of work lifestyle, but the pandemic also made it impossible to avoid this change in the workplace. The challenge for businesses has been effective remote team communication, but these tips may help.

Define Communication Channels

The smartest thing to do is to define your communication channels. This may sound easy, but it can become a real mess if not done right. Some businesses choose multiple channels using multiple companies to save money.

This can confuse the remote team. It’s better to choose a platform with all communication channels, like Unified Communications so that communication is accessible through one singular platform. Be sure the platform chosen supports your team’s needs, like video calling or emailing.

Finding Collaboration Tools

A remote team will be working together. To make this possible for them, they need to have the right collaboration tools that are beneficial to remote workers.

Some of the collaboration tools are connected to communication, like emails and texts, but you’ve got that covered. What you need now are tools like cloud services that allow remote workers to work on projects that can be shared online. This also makes it easy for you and managers to track progress, which is pretty important, too.

Guidelines Need to Be Clear

The next thing to worry about implementing is communication guidelines. These are of the utmost importance now that most of your team is working remotely. They need to know what’s expected of them since you won’t be there physically.

Your team won’t know what to do without clear guidelines. For example, you could have them check in every hour to see if there are updates that everyone needs to be aware of. You might require team members to report their work every day or week. The more clear you are about what you expect from them, the better communication you’ll have.

Schedule Video or Audio Calls

Even if your team communicates well enough on different projects, it’s still a good idea to make video or audio calls a regular thing. Now, these calls must be useful and help steer the team towards a unified goal.

This means you cannot have unnecessary meetings because these not only waste time but are annoying. Each meeting must have a clear objective and must be crucial to the job. These could happen weekly, monthly, or maybe after each project is complete.

Encourage Proper Communication

Proper communication is of the utmost importance, especially with remote workers. Since folks are working on computer screens, tablets, and smartphones, it’s easy to rely on shorthands and other language liberties. This is something you want to discourage.

People don’t have to have the best grammar, but deliberate liberties with language should not be taken by those on the remote team. It is also wise to discourage any sarcasm or jokes. These don’t read well when typed and could lead to misunderstandings. These could be costly, and no business wants that. Remote workers need to stick to the basics and always be as clear as possible. Work on promoting positive conversations, and everything should be just fine.

Limit Participants During Meetings

It would be a good idea to break your meetings apart into small groups. Sure, having everyone join all at once saves you time, and that’s always a good thing, but it might not be as beneficial. Having the entire team in one meeting could make it hard for folks to speak up or ask questions.

Smaller teams encourage participation and promote understanding. These are more important than saving time because they should lead to productivity. Ideally, you’ll want to segregate the folks in each meeting by the team members’ agenda. Avoid asking folks to listen and be involved in a meeting they won’t gain much from.

These are just some things you should be doing with your remote team members, but there’s much more you can do to improve communication. For example, you can record some of these meetings to analyze what could be improved or to circle back if needed. Hopefully, some of these tips help your remote team be more effective.

8 Quick Tips to Skyrocket Your Online Business in UK

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Building an online business in the UK doesn’t have to cost thousands of pounds. Many aspiring entrepreneurs have limited budgets that make it difficult for their company to invest heavily in advertising or hire professionals.

Let’s jump straight into the 8 quick ways to grow your online business.

1. Pick the Optimal Platform for Your Business

Always choose the right platform for your company website. The suggested solution for small businesses is WordPress.org, which is completely free and includes several plugins to expand its functionality. Choosing the wrong platform complicates things and you may have to spend a lot of time looking after your account rather than looking at other aspects of your business. If your organization has more resources, you can hire a web designer to create and support your own custom website.

2. Offer Your Customers Multiple Ways to Contact You

Providing multiple calling options like email and direct messaging to customers is critical to growing your online business. If your business is new, you should learn how to get more email subscribers as it is crucial for successful messaging and customer interaction. The perceived quality of customer service is critical to building a loyal customer base. It is also recommended to add popular communication channels in the market like Discord and Facebook Messenger.

3. Focus on SEO

Search Engine Optimization (SEO) is one of the most effective ways to get first-time visitors to a website. From day one of starting your online business, focus on developing a good SEO strategy. In contrast to advertising, this method is cheaper and brings good results with a good investment. Your SEO strategy should be scalable and should work well with other digital marketing tools like email marketing and social media marketing.

4. Offer Multiple Payment Options

When your customers think of a product or service on your website, they should be able to buy it right away and with maximum ease. Providing multiple payment options like PayPal and credit cards is critical to growing your online business. Suppose you have a lot of customers in developing countries. In this case, you should also offer payment options like mobile wallets and cash on delivery, which are popular with buyers in developing countries like China and Nigeria.

5. Create a Data-Driven Growth Strategy

Your online growth strategy should be data-driven and use free analytics tools like Google Analytics to generate customer-related insights. You should also publish modern machine learning algorithms on your website. This allows you to monitor what is working best for your marketing campaigns and how your consumer preferences are changing and mixing up over time.

6. Focus on Effective Content Strategy

The content of your website is intended to make customers aware of the practical benefits of your products and services. Post useful content on your platform and update the linked blog regularly. A website that regularly publishes new, high quality content has a better chance of ranking high in the search engines.

7. Improve the Website Performance 

For many online businesses in the UK, the website is the only point of contact with customers. Hence, it needs constant improvement in terms of speed, availability and user experience. Try to make a simple design for your platform that is easier for customers to navigate and use. If you have more budget, choose the best possible provider and managed hosting service to entrust the maintenance of your website to experienced and professional people.

8. Use Social Media

Despite the current bad publicity on social media, it is still a powerful online marketing tool. If you use this tool wisely, you can make noise in your products and communicate with your customers. Unlike email marketing, social media enables two-way communication with your audience. You can easily collect customer feedback on your products and grow your business with it.

To Conclude

Innovative thinking and careful planning can help you grow your online business tremendously. If you carefully follow the tips in this article you can achieve these results on a budget, which can be very important when starting a small online business.

Why You Should Invest In Your Business Heating Systems

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Different commercial properties and businesses adopt various methods for their indoor heating and ventilation requirements. While it sounds pretty simple, in reality, it is quite a critical part of every company’s commitment to stakeholders, employees, customers and community. This commitment revolves around compliances and controls concerning the business processes and how it complies with Greenhouse gases and CO2 emissions. There are many costs and activities associated with these compliances. This becomes all the more critical and important during the winter period.

Employees and customers look forward to visiting workplaces that are warm and conducive. This is one of the main reasons businesses allocate funds in their annual budgets and invest in adequately-designed and appropriately-sized heating and ventilation systems. According to Business Energy Comparison, assessing different heating solutions can help businesses choose the most cost-effective and energy-efficient options, reducing overall operational expenses.

Such commitments from businesses help create an ideal environment for both their employees and customers. Having said this, just installing a heating and ventilation system will not serve the purpose. The design needs to comply with the statutory rated energy efficiency standards and safety protocols.

Why is the Heating System Installation Critical?

One way is to install a system for central heating requirements and one for generating and distributing heated water in the facility. While significant A-Rated heating and ventilation systems can be bought and installed, it is imperative that an A-rated water heating system also be installed.

One such heated water system that commercial facilities and businesses could look at is immersion heaters. These are basically heating elements inserted in insulated tanks to create heat through electricity or solar energy. These types of immersion heaters are also sometimes known as megaflow boilers.

How Does It Work?

It is essential to know how an immersion tank works to understand the concept of an immersion heater. Essentially, there are metal hoops or coils that are housed inside a cylindrical tank. The coil or hoop is charged with electricity which heats it up and raises the water temperature stored in the cylindrical tank. This type of installation also becomes a storage type water heater. These are basically like the electric kettles being used at home in kitchens.

Why Are Heating Systems Imperative For Businesses?

In commercial facilities, businesses invest in installing and maintaining their heating and ventilation systems very diligently. Many companies prefer to invest in a heat recovery unit and install it in conjunction with their heating and ventilation system. These heat recovery units are basically heat exchangers which recover all the lost heat from the facility. In simple words, it is also known as a waste heat recovery system. This helps many commercial facilities cut down on their costs and expenses related to issues due to moisture build-up in the system.

The heated air from indoors is collected and returned to the system, and external fresh air (which is re-heated) gets circulated. Doing this brings down the load on the heating boiler and furnace for extra heating capacity to heat the external fresh air. Add to this, there is the benefit of getting external fresh air at all times.

How Does An Efficient Heating System Help Businesses?

A significant chunk of the monthly energy bills is consumed by the heating and ventilation system. While it is the most critical equipment system in any commercial facility or office premises, the fundamental criterion of these systems is that operational performance is expected to be at peak levels at all times. So that such performance efficiency levels are maintained, periodic and regular servicing of the equipment becomes critically important.

When the heating and ventilation system of the business premises is maintained regularly, the energy consumption will automatically reduce and reach optimum levels below the peak. This will also ensure the smooth running of the entire system. In turn, it translates to a reduction in operating costs and improves energy efficiency.

On the flip side, if the heating and ventilation system is neglected and not regularly serviced, the system will start drawing excessive energy to operate at par levels, thereby increasing the expenses significantly. It is known that to remain competitive, every business needs to reduce its costs and overheads, but paying appropriate attention to such equipment though at a little extra expense, will increase the overall profitability of the business.

As an average, it helps to follow the globally adopted and time-tested process of maintaining a consistent temperature range for your heating and cooling system throughout the year. Doing this has yielded immense savings on energy consumption bills. In a few cases, the energy savings have been as high as 35 %, translating to average savings of approximately 15 % on costs.

Compound Interest and Investing

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Whether you are looking for an investment opportunity or to save a few bucks, compound interest rates can be viewed as a safe approach. If you are familiar with the concept of exponential growth of interest, you will have little to no trouble understanding what compound interest entails. With Sortter, you can browse through multiple investment apps and conduct your own trading app comparison to make a calculated and well thought out decision about where you should invest.

Finding the Best Trading App

When it comes to online trading and investing in the stock market, you cannot pick a favorite stock market app based on your preferences. However, you can opt for a trading app that can offer incentives and opportunities that other apps do not. Depending on your preferences and the kind of profit you want to make on your investment, the best trading app can differ from one individual to the next. Thus, the answer to which trading app is the best is entirely subjective, and there is no definitive answer.

But how do you tell which trading app is best for you? We have designed an advanced comparison tool that can assist you in efficiently comparing different trading apps and forming a conclusion about which one suits your preferences the most. All you have to do is fill out a short questionnaire, and we will give you a conclusive statement about which trading app is ideal for you and why.

What are Trading Apps?

In layman’s terms, a trading app is an app that gives you unfiltered and constant access to the stock market, regardless of wherever you are. These apps are developed by trading platforms and help investors find the right stock listings for themselves. With the introduction of trading apps, there has been a shift from reliance on brokerages to independent traders. With the rise of covid and a lockdown being implemented worldwide, these trading apps saw an influx in their usage. Investment apps like eToro and Robinhood have acquired millions of users worldwide, making trading accessible for all.

Earning Through Investing

The idea behind the investment is to buy a stock and keep it with you for a specific time period. This time period differs for everyone. During the time the investors keep the stock with them, the value of the stock accumulates. Once the value reaches the investor’s desired profit level, the investor tends to sell the stock and make a profit on the difference between his buying price and the stock’s selling price.

Another approach is to buy stock in companies that tend to pay out an annual or quarterly dividend. This type of investment can result in a stable flow of income and is usually opted for by retired individuals.

Compound Interests and Investment

Investing money in a savings account can help you generate a substantial amount of compound interest. This accumulation accounts for the devaluation of your money and can also help you increase the amount that you had initially invested into your account. However, interest rates do the same. So how exactly is a compound interest different from regular interest? With compound interests, you can earn interest on the regular interest that you have earned.

The frequency with which the compounding occurs affects how quickly your profit will accelerate. In order to make the most out of compound interest rates, you should invest at an early stage in life. You can calculate the amount you’ll earn depending on the prevailing compound interest rate and then make an informed and optimal regarding whether you should invest or not. Different sites offer different rates. Thus you will have to sift through multiple options before deciding where you want to invest.

Conclusion

Now that you have some idea about how compound interest rates work and how they can multiply your savings, it’s time you start thinking about making an investment. With Sortter, you can compare different trading apps and choose one that can help you make the most out of your investment. Visit our site today and browse through multiple trading apps. With the ease of comparing different trading apps, multiply your savings and investments by making calculated and informed decisions today!

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