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SAVENDA CEO Clever Mpoha Offers Solutions for Growing Companies, Entrepreneurs

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New entrepreneurs who aspire to build a successful business often dream about the joy, ease and happiness their lives will attain after they successfully accomplish their goal.

They believe that having a lot of money, employees that look up to them and the respect of the business community will result in a perfect state of happiness. That’s what noted Zambian business mogul Clever Mpoha thought as well before he launched his own company.

But consider what Mpoha wrote in his recently published autobiography:

“Before I was enlightened, I used to think that when you became successful everyone would be happy for you. I believed that becoming successful brings only good things and nothing negative.

“Alas, I was wrong.”

It was in 1997 that Clever Mpoha became determined to launch a new enterprise. He was eager to “be his own man” and control his own destiny. Even though he had a good job in the financial department of a major industrial supply firm, it irked him that “someone else could decide” how much he earned every month.

Thus, he took the plunge and established a fledgling operation with just $1,000 and a plan to trade in Korean-made cell phones. He was able to make that sideline work. He produced a profit. Mpoha diligently reinvested his first small gains right back into creating more opportunities for his new company.

He soon chose the ambitious name of SAVENDA for his new business. That stands for nothing less than: “SAVE Nations, Develop Africa.” It was a choice that belied the much greater ambitions of a yet untested young entrepreneur.

The success of the cell phone business led Mpoha to start looking into supply and distribution issues. Before long, he was contracting with local mining companies to help them solve their many logistics problems.

Under the relentless drive and savvy business mind of Clever Mpoha, SAVENDA began to grow and diversify. Now, more than 20 years later, SAVENDA Group is one of Zambia’s premier supply management and logistics firms with annual revenue in excess of $300 million. It has achieved a Pan-African presence and partners with other firms from Asia and Europe to the Americas.

But did success result in the blissful state of existence so dreamed of by many new entrepreneurs? Well — not exactly.

Mpoha put it this way:

“Success can bring its own challenges … success in business can create enemies and back-stabbing. The competition can become unhealthy and unfriendly. Your own workers can become your biggest nightmares … you need to come up with ways to address these challenges as they come along. You can’t sit and wait for these challenges to consume you and your business.”

Certainly, Clever Mpoha readily acknowledges that business success does bring joys as well. That includes the thrill of accomplishment, the sense that you are building something special for the future, the pride in the fact that you are contributing to the uplifting of your fellow Africans and the African continent.

Mpoha grants also that having sufficient money to meet all your needs is a position everyone should strive to achieve. Being rich is better than being poor.

The larger point, however, is that entrepreneurs must frankly accept the good with the bad in building a business from nothing into a multimillion-dollar success.

To take just one example, Mpoha said a growing company will inevitably confront the complicated process of hiring and managing large numbers of employees. The problems associated with this can seem endless. Mpoha writes:

“Having more employees creates numerous challenges, including a bigger payroll to meet, higher administrative costs, higher costs for training, increased pension contributions and complex management requirements.”

Solving problems associated with employees requires the creation of carefully crafted strategies. In this regard, Mpoha cites three specific areas of strategy. They include:

1. Productivity Analysis

This involves a well-conceived methodology for determining whether it is necessary to hire a person every time a hiring decision is made. Will hiring X employees result in increased efficiency and productivity? What will be the output of an employee as compared to how much is invested in his or her pay? Will new hires help the company make more money?

Mpoha said a business must be able to pin down specific answers to questions like these when taking on every new employee.

2. Automation

Early on, Mpoha said his firm often filled productivity needs by hiring temporary employees. That’s costly, however. It also becomes far more complicated than one might think. For example, sometimes the number of temps starts to pile up. It also can become difficult to let go after their term of employment is up.

Along the way, SAVENDA management realized that automation was a way to substantially increase productivity without needing to hire more personnel or take on temporary workers. Mpoha said the adoption of software and management systems has often proven to be an attractive alternative to swelling labor payroll costs.

3. Groom New Leaders

Clever Mpoha said that a CEO who thinks he can make all the decisions, has all the correct answers and who attempt to micro-manage his organization is either a bad CEO or one headed for fast burnout.

The most successful CEOs learn the art of selecting excellent people who possess great leadership skills. The key is to delegate responsibilities to people placed in leadership roles, adopt a hands-off approach as much as possible and then trust them to manage their own departments with skills that produce results.

Labor management is just one of more than a dozen challenges entrepreneurs face as they grow their businesses. Mpoha provides many more situational insights in his new autobiography, The Business Mind of Clever Mpoha.

What Is Robinhood: A Review for New Users

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In recent months, there has been much hype around the source Robinhood. So, it is no surprise that so many traders got interested in it. Below, we will give you the key information about this source and explain whether it is worth trusting.

As of now, this platform is associated with the GameStop scandal mainly, when they decided to freeze all the deals with the stocks of this company amidst the dramatic rise at the beginning of 2021. Since that time, there have been serious doubts about whether this exchange service is worth trusting.

So, what is Robinhood? In short, it is a fast-developing online broker, which offers commission-free trading services.

The key advantages:

·   Regulation by the SEC and FINRA.

·   One can trade stocks, ETFs, options, and cryptocurrency without any commissions.

·   7 cryptocurrencies available.

·   Easy and free registration.

·   No minimum deposit limits.

·   Free stock for new accounts ― up to $225.

·   No deposit or withdrawal fees.

·   A user-friendly mobile app.

·   Robinhood Gold accounts provide a bunch of extra bonuses for only $5.

·   No ACH transfer fees.

·   No inactivity penalties.

Yet, do not haste to register on this platform, until you check all the rules in detail. In the first place, you must know that its product range is rather limited compared to other similar platforms. Also, the majority of additional research and trading tools are available to Gold accounts only. Another crucial disadvantage is that there are no demo accounts, so if you want to test its functionality, you will have to invest real money right away.

In general, it is a good choice for beginners interested in commission-free trades. However, professionals may get disappointed due to its poor functionality, a small selection of assets, and other limitations. As for its reliability, there is much positive feedback from users concerning safety aspects. And there is a good chance that, in the future, the company will manage to clear its reputation.

Richest Forex Traders: Their Advice for Beginners

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What is the secret of success in trading on Forex? You will hardly find a single exact answer in expert reviews or guides. Every professional trader has a personal approach and a unique strategy. Read on to get some tips from the most influential traders on the market.

Here is our top list of most successful Forex investors:

1. George Soros. He is known to earn his first billion from the Black Wednesday crisis by opening a short position against the UK pound. His strategy was based on taking advantage of high leverages. As of now he owns an $8 billion net and is holding the first position among the richest Forex traders. His advice to beginners is to focus on unexpected steps rather than on obvious ones.

2. Paul Tudor Jones. He started his career in commodity trading, namely from a short-selling strategy. That allowed him to make capital of about $100 million. Afterward, he established his own company specializing in currency trading. He recommends novice traders focus on the protection of their funds rather than on huge earnings. Namely, he claims that every day he determines stop limits for all of his positions so that he knows when to quit if their rates move against his forecasts.

3. Joe Lewis. He worked with George Soros on Black Friday and earned $1.8 billion. This trader assures that it is better to enjoy one’s success quietly without making too much fuss about it.

4. Stanley Druckenmiller. He explains that his strategy is to invest all funds in one asset and then constantly monitor its movements.

5. Bill Lipschutz. His advice is to be patient and to refrain from excessive steps and trades, which allows reducing losses.

In sum, there is no universal approach, which will suit every trader, still, by studying the experience of leading traders, you can find lots of useful prompts.

How You Can Easily Select the Most Ideal Serviced Office: Factors to Consider

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More business owners and entrepreneurs are going for the serviced office in recent times, especially in light of the pandemic and all the challenges it has brought forth. As a result, businesses nowadays are looking for a flexible solution for their office space requirements. The serviced office provides just that: one’s own personal and private business space that also comes with several perks, from reception staff on an as-needed basis to meeting/conference rooms by the hour, maintenance and cleaning staff, and a ready-to-use setup with the facilities and utilities every business needs. But whilst you may already know what serviced offices can provide, there’s still the matter of choosing the right one. Here, then, is how you can easily select the most ideal serviced office: factors to consider.

         •          Decide on the kind of serviced office you want

Most of us are familiar with the private serviced office, which means you can take advantage of a space that’s entirely your own whilst still having access to other businesses in the same building or area. But there are essentially two kinds of serviced offices: the co-working space and the above-mentioned private office.

The co-working space is popular with freelancers and entrepreneurs just starting, and it provides you with a shared space along with other entrepreneurs, but with your desk or workstation. On the other hand, a private office provides you with either a suite of rooms, a big room, or even a whole floor, depending on your needs. This offers a brilliant solution for those who want to have their own private space where they can work and meet clients but don’t want the hassle of managing the office in terms of applying for utilities, equipping meeting rooms, etc.

            •         Consider the location

When you’ve decided on the kind of serviced office you need, you should then consider the location. Simply put, the proper location can enhance your growth efforts, and it will also impact how clients see you. Moreover, it makes a difference in staff recruitment and dealing with suppliers and vendors. In other words, a central location in a busy area will often work best, and you would also want it to be easily accessed, whether via car or public transport. Does the location offer access to other amenities as well, such as gyms and cafeterias? Security is another top consideration, and you should also ask your potential serviced office provider if they offer security on the site after office hours.

Business space in Manchester, for example, is often an excellent choice, as it offers excellent transport links and networks and a broader range of talent from whom you can recruit future staff, not to mention a more prestigious address as well.

Think about the auxiliary services

Many businesses that choose a serviced office also do so because of the office’s auxiliary services. With more services, you have the chance to concentrate more on your activities rather than worry about various aspects like maintenance, reception, and so on.

That said, a provider that can offer more amenities like reception services, maintenance and cleaning services, rental services for office equipment like telephones, free parking, and security services would stand out better than one that doesn’t.

Is Buying TikTok Likes Worth It? The Pros and Cons

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Interested in buying likes for your TikTok account? TikTok has 1 billion monthly users, making it one of the fastest-growing social media platforms.

A TikTok video is a short creative video that inspires trends around the globe.

In the same way that other social media do, it relies on clout. Views, likes, followers, and engagements increase your account’s authority. Social media influence is important for influencer marketing.

The TikTok app isn’t just about wacky and entertaining videos. As an advertising platform, it can help brands reach their target market. To be an influencer, you must invest in Famoid TikTok likes.

If you’re wondering how to buy likes on TikTok, keep reading! The following guide will tell you everything you need to know about buying TikTok likes.

Pros of Buying Likes on TikTok

Likes are crucial to TikTok’s algorithm. Some of the benefits of increasing your account’s likes are listed below.

Proof of social influence

You can improve your account’s social proof by buying likes on TikTok. This is due to the tendency for people to copy others. More likes give your account more credibility and make it easier for people to view and engage with it.

TikTok ranking increases

Getting featured in the explore section can be challenging. However, purchasing likes can increase your account’s engagement. Increasing your engagement can boost your ranking and get you featured.

Faster Growth

Also, more exposure and likes will increase the number of people who follow you. Those who see your content with a high engagement count are more likely to click the follow button. It is possible to speed up this process by buying likes and become popular on the internet.

Boosting Your Brand Building

Buying TikTok likes can help you build your brand. It can be easier to obtain lucrative sponsorship deals if you are popular enough. Some companies seek ambassadors to promote their products.

You can get a big enough following count if you buy TikTok likes to turn these companies’ heads. After that, you’ll be able to make money from your TikTok content. To find out how to buy TikTok likes, click here.

Cons of purchasing TikTok likes

Cyberspace is filled with scams. Social media platforms can also sometimes act against them. It’s risky to buy likes on TikTok.

Frauds

You should be careful where you buy TikTok likes. There are a lot of scam sites that sell fake numbers.

Your account login information might also be sought by others. You won’t be asked for your password or any other critical information by legitimate services.

Detection Probability

TikTok’s algorithm detects unusual activity on accounts. It includes gaining thousands of followers in a weekend without posting anything. Buy likes with reckless abandon would be unwise.

Get your TikTok account boosted today

It is a large platform with both fun videos and influencers. TikTok’s reach makes it attractive for influencers who want to gain an online following. They may be able to land sponsorships that help them earn more money.

Navasu: Introduction

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Licensed for financial services, Navasu is a virtual currency service that provides clients with a crypto wallet, helping them to manage their cryptocurrencies, as well as a prepaid card that enables them to spend their Bitcoins with ease.

Established and licensed in 2018, Navasu was founded to meet increased demand for global and digital money, developing a simple yet highly effective crypto exchange that delivers innovative technical solutions, robust liquidity, low spreads, and competitive commission fee rates.

This advanced payment network enables clients to buy and sell cryptocurrencies via an effortless, three-step process:

  1. Register your account on the Navasu website
  2. Buy and sell cryptocurrencies
  3. Receive your crypto, with funds paid to the client’s wallet ASAP

Navasu’s mission is to make its clients’ lives easier, delivering optimized crypto buying, selling, and using opportunities. A global leader in cryptocurrency transactions, Navasu provides the best rates possible, facilitating various purchase solutions including credit card payments and wire transfers.

For high-volume purchases, the platform offers an OTC desk facility, enabling clients to close a rate within a short timeframe. The company is always on hand to assist new customers, helping them to venture into the world of cryptocurrency.

Navasu Wallet

For individuals trading cryptocurrencies, the ability to control their crypto is crucial. Navasu’s wallet service enables clients to manage their cryptocurrencies easily and effectively, with the opportunity to create several wallets and transfer funds.

Implemented with multi-signature and encryption, the platform protects user security, providing clients with notifications about all payments and transfers made with their wallet, and enabling them to turn crypto into cash with the Navasu card.

In a world of constantly evolving technologies, Navasu is committed to protecting the interests of its clients. Today, hacking is becoming an increasingly common problem for companies that rely on antiquated security methods. This is not a problem for Navasu, a company that prioritizes security, implementing an innovative approach utilizing multi-signature addresses to split payment authorization across trusted devices. With PINS, private key encryption and biometric authentication all used to enhance security, Navasu’s wallet service is not just easy to use – it’s secure.

Navasu Card

To obtain a Navasu card, users simply download the app, register their wallet, and order their card. Like the Navasu wallet, the card incorporates advanced security, integrating an EMV chip, as well as providing users with options to lock their card and control their spending.

The Navasu card enables clients to reload their balance quickly and easily from anywhere in the world. Whether withdrawing cash from an ATM, paying with a PIN, or processing a contactless payment, the Navasu card facilitates unbelievably fast transactions 24/7. Clients who prefer to live day-to-day using cryptocurrency can use the app to view their balance and keep track of their spending.

With no hidden fees, Navasu prioritizes honesty and transparency in all of its operations, enabling clients to buy and sell crypto in the blink of any eye. As legal agents, Navasu is fully compliant with all applicable laws, with a keen focus on security to protect the interests of its clients.

This multicurrency crypto buying, selling and using platform features all of the top cryptocurrencies, enabling users to buy and sell whatever they want whenever they want, with  Navasu’s diligent staff always on hand to provide 24/7 support.

5 Great Habits to Cement as an Entrepreneur

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Being an entrepreneur doesn’t just happen overnight and the dedication and habitual commitment that comes in the run-up to success is something that is often not seen. Creating routines for yourself, as an entrepreneur, and setting yourself up to be in the best position is something that is very grounding in a world where business can be uncertain. Some of the best entrepreneurs swear by the habits they’ve created for themselves and the habits that you can establish and commit to will contribute more to your success than you may think.

Wellness is Key

Ensuring you are the best version of yourself for your business will be reflected in the way you take care of yourself. Ensuring that your body and mind are in alignment with the way that you want to function is key. Making sure you are not burning out will result in your entrepreneurial spirit is at its peak and ensure that you are the best version of yourself. Statistics have shown that the use of wellness apps has significantly increased over the last three years alone so there is a range of ways to maintain wellness in your life.

(Image Source: Statista)

Establishing a good workout routine as well as mindful practises, such as meditation or even a mindful walk will set you up to release your anxiety in a healthy way and is an excellent way to weave this into your routine. Carving out time for movement is pivotal to resetting yourself when you need to.

Make Use of the Morning

Even if you are not a morning person, creating a morning routine for yourself can help you to feel less flustered and be something that you can control. A morning routine doesn’t necessarily have to revolve around productivity but can be an excellent way to do things for yourself before the chaos of the day begins. Whether this be reading a chapter of a book whilst enjoying your coffee, or taking a more luxurious shower making the use of the morning time, will have you feeling set up for what the rest of the day has to bring. You can try waking up earlier by setting your alarm earlier in 20-minute increments every day until you establish a regular wake up time for yourself. 

Don’t bite off more than you can chew

When it comes to being an entrepreneur, multitasking can be a gift and curse. Sometimes taking on too much can be your ultimate demise. By effectively managing your time, you can allocate certain time to certain tasks without being coded by everything else that you have to do. An effective way to schedule your time in a predictive manner is time blocking. Time blocking is a way of blocking your time in sections and focusing on one thing and one thing only at that certain time. This way you don’t get your wires crossed and you actually get your task list done. For example, taking out 30 minutes to delicate just to emails so you’re not tackling them throughout the day and distracting yourself from other tasks. 

Owning your schedule and sticking to it will allow you to feel in control of your time and allocate the dedicated time and focus to your outlined tasks and to-do list. Creating your time blocking to-do list the night before can be a great way to unload your head at the end of a busy day, and then reevaluating this in the morning can help you feel more organised. 

Exit your comfort zone

As an entrepreneur, making time to try things out of your comfort zone will ensure that you don’t feel stagnated. Whether this is trying a new business plan, or dedicating time every week to learning a new skill from scratch, will contribute to you being a well rounded and more balanced person. Exiting your comfort zone will ensure that you come off autopilot from time to time and can be factored in as part of your routine so it doesn’t feel overwhelming.  

Make a note of it

Writing down what you need to do, will help clear up your headspace and help make a plan out of something that is just an idea. To-do lists and schedules are a basic yet foolproof way to organise your time and get those thoughts out of your head and onto paper. Some people prefer to take notes digitally, but if you’re more of a pen and paper kind of person, then allocate certain notebooks to certain tasks and seek productivity in organising your thoughts. 

Cementing these habits are just some of the ways that you can habitualised certain traits as an entrepreneur and help yourself feel more organised and less likely to spiral into a pit of worry and anxiety which are an entrepreneur’s worst enemy. 

Importance of Brand Recognition Studies

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Brand awareness is a crucial component of any business strategy. It ensures that the consumers know and understand the product and goals of the company. A brand awareness study enables you to know the percentage of target customers aware of your brand.

To form a complete marketing strategy, brand recognition and brand recall is the first step. It creates the top portion of your sales funnel. The more your brand is recognizable; the better lead generation happens in your sales funnel.

Therefore, giving brand recognition studies proper importance is a must for every company. In this article, we will discuss various aspects of brand recognition studies.

What is Brand Recognition?

Brand recognition is the ability of the customer to identify and recognize a particular brand.

When people are exposed to several products, they tend to recognize some of them immediately. This is a likely situation in supermarkets where the consumer is presented with a selection of brands. In this situation, the customer tends to choose the most recognizable brand that comes to their mind.

On the other hand, some brands come automatically to the consumers’ minds even when they aren’t presented with choices. For example, whenever you think of luxurious cars, Mercedes, Rolls Royce, BMW comes to mind.

The most successful recognition comes when the consumer is aware of your brand without being explicitly exposed to the name. If the consumer recognizes your brand by visual or auditory cues, such as jingles, packaging, or logos, it adds more value to branding.

Brand recognition is crucial for new companies that still need to solidify their presence to their target audience. It allows them to reach their target customers and market their products effectively.

Brand Health Study

Brand health study allows you to determine how people know your brand. It is very crucial to form your market strategy and uphold your brand’s image. While conducting your brand health study, you should consider the following studies:

  • Brand Image Study: In this study, you gather feedback from both external and internal sources to know how your consumer’s perception matches your brand’s identity.
  • Brand Trust Study: Trustworthiness is a great asset to have in your corner. There are numerous businesses online. Therefore, if you want your consumers to come back to your business, you will need to build a strong trust-based relationship with them.
  • Brand Loyalty Study: Brand loyalty enables your loyal consumers to transform others into your consumers. However, you will need to know the frequency of customer transformation by calculating loyalty levels.
  • Customer Profile Study:  Change in your customer base determines where your business is going. According to your customer change, you will need to pivot your product or message or both accordingly.

How to Conduct Brand Recognition Studies?

There are mainly two ways to conduct your brand recognition study, online survey, and telephone survey.

More and more companies are now leaning towards online surveys for convenience. As more people are now using electronic devices, smartphones and accessing online for a prolonged time, online surveys are becoming more efficient.

However, if a company can assure high convenience, talking through the phone can bring more personalized results.

Pros and Cons of Online Survey

Pros:

  • Online surveys are more convenient as the customers can respond at any time.
  • Online surveys cost less than traditional telephone and in-person surveys.
  • You can sample faster with online surveying.

Cons:

  • Most online forums maintain anonymity. Therefore, some vital information gaps can be presented.
  • You cannot get further clarification in an online survey.
  • Online surveys require a certain amount of technological expertise. It can make some audiences unavailable to participate in the survey.

Pros and Cons of Telephone Survey

Pros:

  • You can target people of specific demographics and locations for your survey
  • Telephone surveys allow you to gather  in-depth information about your branding
  • Telephone surveys are more personal than online surveys

Cons:

  • Telephone surveys are costly and time-consuming
  • With telephone surveys, it will take a longer time to generate and sort samples properly.

When to Run Your Brand Recognition Study?

Conducting brand recognition studies once a year gives you a perspective of what you are doing right and what needs more work. However, it is also a good practice to run the study before launching a new marketing campaign.

Your brand recognition survey is a benchmark of your branding initiatives. It works as an indicator of the performance of your branding initiative. With proper analysis, you can increase your branding success and have better results in the future for your company.

With new marketing strategies, you are reaching new prospective customers. Therefore, you need to make sure that your branding resonates with your company’s morale. Also, it allows the consumers to find and learn about your products and services.

Without proper study, your branding opportunities fail. When your branding fails, it hurts your company severely.

Final Words

Branding recognition studies show you how easily you can reach your consumers with your product. For any business, this is a  crucial metric for success. Therefore, careful surveys and evaluations are essential for this initiative.

The goal of brand recognition is to make your customer think about your product whenever they need it. And for successfully doing that, there is no alternative to thorough research. You can also look for online survey software to help you conduct these surveys.

Unsecured Homeowner Loans: The Ups, the Downs and Everything In-between

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An unsecured homeowner loan is a curious concept, though has the potential to be a highly cost-effective facility. As the name suggests, unsecured homeowner loans are personal loans issued exclusively to homeowners.

Unlike a secured loan, the facility is provided without any security being required. You must be a homeowner to qualify, but the loan is not secured against your home or any of your assets.

An unsecured homeowner loan can be used for almost any legal purpose, and can make an affordable alternative to conventional unsecured loans. However, there are positives and negatives to take into account prior to applying for a homeowner loan.

The Upsides of Unsecured Homeowner Loans

As outlined above, you do not need to put any of your assets on the line to qualify for an unsecured homeowner loan. This means that even if the worst case scenario plays out, you will not face the prospect of your home being repossessed.

Depending on the lender you borrow from, an unsecured homeowner loan can be issued from as little as £1,000 and up to around £35,000 or more.  Repayment terms are available from just a few months to several years, helping spread the costs to suit all budgets.

Interest rates and borrowing costs can also be more competitive than those of a typical personal loan, often with the option of early repayment; it is essential to compare the market in full with the help of an experienced broker, in order to ensure you get the best possible deal.

The Downsides of Unsecured Homeowner Loans

Unfortunately, homeownership alone does not guarantee eligibility for this type of loan. You will also need to have a good credit score and be able to provide proof of income. Your financial situation is likely to be scrutinised by your lender which will affect both your eligibility and the interest payable on the loan.

In addition, any late or missed payments will be recorded on your credit score and could make it difficult to qualify for competitive products in the future; applying for an unsecured loan being declined can also leave a mark on your credit history.

This is another reason why it is important to enlist Whole of Market broker support in order to assess your eligibility before applying. If a different type of product is more suitable for your needs, your broker will advise you accordingly and help you find the right lender.

When is An Unsecured Homeowner Loan a Good Idea?

An unsecured homeowner loan can be used to fund almost any project or purchase, up to a maximum value of around £35,000. If you have a good credit score and can comfortably afford the repayments, it could be a more affordable facility than a conventional personal loan.

There may be alternative options that could be even more cost-effective. For example, a secured homeowner loan may attach much lower overall borrowing costs, though with the caveat of your home being used as security for the loan.

Before applying, consult with an experienced broker to discuss the options available and ensure you make the right choice.

How To Deal With Highly Volatile Cryptocurrencies?

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Cryptocurrencies are taking over the market. Research shows that around 7 million people use them around the world and it is likely that the number will double in the next 2-3 years. After all, they are superior to regular payment methods as they provide users with a greater security level, instant online transactions, low fees, and most importantly – the chance to make a profit.

Highly volatile cryptocurrencies are often used for trading and making a profit due to the fact that their price can skyrocket. Take a look at Bitcoin. In the past 1 year, it has managed to go from less than $10,000 to over $50,000. But, just as it can rise, it can also drop down in value. So, with that thought in mind, we decided to provide you with a few guidelines on how to deal with the high volatility rate.

The Most Popular Highly Volatile Cryptocurrency

Before you can deal with the volatility rate, you must be familiar with the cryptocurrencies that actually have it. All of us know that the most dominant and most popular highly volatile cryptocurrency is Bitcoin, but are there any other?

The answer is yes. Some of those that deserve a mention are Ethereum, Zenon, and Compound. The value of each of these digital assets is subject to frequent changes.

Now, let’s see how can you battle the high volatility rate.

Use The Services of Advanced Trading Sites

This may sound surprising, but trading sites can help you maximize your profits. Of course, you need to register and verify your account, but once you do that, you will be able to use their services to increase your chances of making a profit.

Platforms such as the Bitcoin Profit app have advanced automated systems that are actually able to track the latest market developments and use the data to make accurate predictions on the future price of your chosen cryptocurrency. Now, it is worth noting that they are not 100% precise and they cannot guarantee you a profit, but they are the next best thing.

Be Patient and Follow the Patterns

When it comes to investing in highly volatile cryptocurrencies, patience and rational thinking is the key to success. You cannot allow emotions to cloud your judgement. Rushing things often comes when you are dealt with the so-called FOMO factor.

FOMO, or also known as Fear of Missing Out, appears when a fake golden opportunity comes up your way. With highly volatile cryptocurrencies, that means that a rising trend appears and quick and irrational thinking leads you into making a big investment. After you put your money on the line, you witness the price of the cryptocurrency dropping and thus, you end up losing money.

Being patient and learning how to spot and analyze the patterns can make a huge difference.

Consider Using Stablecoins

Lastly, there is a way not to deal with highly volatile cryptocurrencies. As you may know not every digital asset is subject to frequent changes. Some cryptocurrencies are stable and are not subject to volatility at all. These cryptocurrencies are known as stable coins and the most dominant stablecoin is Tether.

Stablecoins are often tied to an outside source that allows them to maintain stability. That outside source can be another cryptocurrency, gold, silver, or any other precious metals, and FIAT currencies. In Tether’s case, that involves a FIAT currency, which is the US dollar.

The idea behind these outside assets is simple – for every unit of the cryptocurrency, there is an asset in reserve. Tether’s value is $1 which means that the company that created this cryptocurrency back in 2014 has $1 in reserve for every digital asset that is released into the world.

  • bitcoinBitcoin (BTC) $ 110,231.00 0.01%
  • ethereumEthereum (ETH) $ 3,860.72 0.31%
  • tetherTether (USDT) $ 1.00 0.01%
  • xrpXRP (XRP) $ 2.49 0.13%
  • bnbBNB (BNB) $ 1,078.20 1.42%
  • solanaSolana (SOL) $ 184.21 0.52%
  • usd-coinUSDC (USDC) $ 0.999702 0.02%
  • staked-etherLido Staked Ether (STETH) $ 3,857.65 0.29%
  • tronTRON (TRX) $ 0.295918 0.45%
  • cardanoCardano (ADA) $ 0.599373 1.74%
  • avalanche-2Avalanche (AVAX) $ 18.23 1.91%
  • the-open-networkToncoin (TON) $ 2.29 1.11%
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