Published on: 05 February 2020
Last Updated on: 12 May 2021
If you want to know how to make money from Cryptocurrency then you must know what is cryptocurrency. The cryptocurrency market is much stronger than any stock market which is beneficial to the traders and the casual investors in the industry. Cryptocurrency trading provides the perfect opportunity for making money in the market. The innovations and market of cryptocurrency have steeped the zenith in the market and very soon will be taken over by the bots. So it becomes important for you to know how to choose a correct Crypto Trading Bots and which are the best crypto trading bots of 2020.
Parameters of Choosing the Correct Crypto Trading Bot
Choosing the correct crypto trading bot is the most important aspect. Since now bots will be taken over the cryptocurrency trading, hence one must wisely choose the correct bot.
The first parameter which must be considered while choosing a crypto trading bot is the reliability of the bot.
The second factor that must be checked in the bot is the security of the bot.
The third factor must be the profitability of using a particular cryptocurrency bot.
Transparency of the bot is another major factor that must be checked before finalizing any.
Last but not the least, the bot must be easy to use. The user must be friendly with the usage of the bot.
Top 3 Best Crypto Trading Bots
There are many bots available that are associated with cryptocurrency trading but one must know which are the best Crypto trading bots. Choosing the correct bot is very important hence the top 3 best crypto trading bots have been introduced here.
Cryptohopper
Cryptohopper is relatively a newer bot in the crypto trading market. But this new bot has caught the attention of many users with the new technical features that it comes with. One of the major drawbacks of most of the trading bots is that they might only run on the local machine which means that they will run when your PC is turned on by you. This bot uses cloud technology to keep the bot running 24*7.
3Commas
Another interesting crypto trading bot is 3Commas which has gained popularity in very little time as it provided a lot of users with a lot of gains. This bot has a unique feature that separates it from other bots that are this bot has the ability to trail any crypto market. This feature helps the bot to close the trade at the most profitable position. This bot also allows users to trade with multiple cryptocurrencies at the same time.
Kryll.io
Innovation is their weapon and they have utilized their capability to the ultimate level to make people realize that the best way to crypto is trading. They have redefined the definition of cryptocurrency. The core feature of this bot is you can create your own strategy here and not blindly follow any automated strategy.
Conclusion
Apart from all the advantages and benefits brought in by crypto trading bots, it also brings in some disadvantages. We can say that this is not very suited for new traders. It also requires constant monitoring, and not all the bots would be equally secured. Kow you may choose the correct bot for yourself.
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Over the next 30 years, the baby boomers are expected to transfer approximately 30 trillion dollars of wealth to the millennial. Financial advisors are at an all-time advantageous position because they will help manage that money. The Bureau of Labor Statistics projects a 27% job growth for advisors between 2012 and 2022. The average job is suggested to be about $99,920.
However, this career is not an easy one. While there are a lot of career openings for finance sector,It is constantly changing. If you are interested in the profession, here are a few tips on the educational requirements, salary packages and the certification that will help you understand what you will need to be a successful financial advisor or start a financial planning career.
Who is a financial advisor?
Just as the name suggests, financial advisors provide advice to clients on how they can handle their money better. Financial advisors tell their customers where to channel their money, so they get higher returns and grow monetarily. These channels may include insurance options, retirement plans, and other investment strategies.
These professionals, therefore, need to have an excellent understanding of how the stock markets, the banking and insurance sectors are performing.
There are two options if you’re thinking about how to become a financial advisor. You can either choose to work with a company, or you can go private. Either way, you need a bachelor’s degree and relevant certification.
Educational requirements for a financial advisor online
The first step to getting into any career is to get an appropriate bachelor’s degree. The financial advisor career requires you to a degree in business administration and other specialized fields like accounting or financial management.
The business administration course will cover topics like marketing, accounting, operations management, and finance. The financial management course will focus on financial planning, investments and risk management.
While you are studying, make sure that you take advantage of the support resources offered by most universities. Resources such as resume writing guidance for professional CV writing service, job assistance, getting interview leads and writing cover letters will be beneficial when you are building your career.
You may also want to develop your marketing skills as you study since you will be tasked with the responsibility to connect with clients through marketing your advisory services in networking avenues, workshops and seminars. It is critical for you to start learning the different marketing strategies early. They will be helpful when you are looking for clients to represent.
Depending on the country and the state you reside, you will be needed to get licenses and certifications. The license you get will depend on the types of assets you want to handle. If you're going to sell securities like corporate bonds, you need a Financial Industry Regulatory Authority licensing exam.
For the entry levels, the experience is not necessary, however, as you grow in the industry, you will need to get more certifications. The more certificates you have, the more likely you are to succeed in the private sector.
You will have to take the Certified Financial Planner (CFP) exam that will require you to complete 30 units of continuing education and summation of your annual dues. These classes improve your professional conduct.
To color your CV even further, take an advanced degree such as a Master’s. It will help you move up in your managerial positions and even land better-paying customers.
Time and costs involved in the financial planning career
This career requires rigorous studying. To pass most of the industry’s exams, you have to dedicate up to 270- hours of study time including the series seven that gives stockbrokers a license to trade and 66 to qualify you as an investment advisor and security agents. You also have to dedicate your time to training programs which will be invaluable for embarking into the career as a private representative.
Being a certified financial planner is not a requirement for financial advisors although the CPF test is done after a person enters the business.
Becoming a financial advisor is not cheap. The series 7 exam costs $305, and the 66 costs $155. The training may be offered by the company that you work for after getting your first degree. CFP costs are $594. The materials needed and the classes can be well over $400.
The monetary costs are nothing compared to the time you have to dedicate to be a competent professional. The costs of commitment and time will help you build a healthy practice.
The rewards of becoming a financial advisor
The salary of financial advisors varies depending on their education and experience level. Advisors that do not have more than 10 years experience get a salary of about $25000 per year. The salary increases over time because you get a salary, bonuses, and commissions. After ten years these professionals get about $95000 per year. According to statistics, the highest paid financial advisors in 2013 reached $180000.
There is also the personal satisfaction you get when you help change people’s lives. No two days at work are the same. You have endless opportunities to grow and expand. You will meet interesting people who will also change your life.
You also get the chance to maintain a great work-life balance since you have the advantage of built-in scheduling flexibility. You will also work well after your retirement years because the career does not require physical strain. Once you figure out what type of investor you want to be, it gets more comfortable for you to meet clients, excel in your education and growth.
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Have you been practicing law for a while? Today, many lawyers are stepping into the entrepreneurship world to open their law firms. Indeed, practicing under experienced lawyers gives a lot of exposure but having autonomy at work is equally vital. You can choose clients and legal cases of your choice and practice in a particular area. Likewise, you can enjoy flexibility and freedom, make decisions, and set your priorities.
However, most lawyers don’t understand that starting a law firm is more than practicing law. Apart from legal responsibilities, you have to recruit people, market the law firm, and most importantly, manage finances. You have to document a long-term financial strategy to stay on top of your daily budget and earn profits. At the same time, you have to manage taxes, acquire funding, handle invoices, and much more.
To help you get started, here is a comprehensive guide to law firm finance in 2021.
1. Create a Long-Term Financial Strategy:
As a law firm owner, you have to establish a vision for the firm’s future. Do you picture a multi-lawyer firm handing corporate clients? Or you want to step into litigation or criminal law? Having a clear idea of long-term goals will help in creating a well-defined financial strategy. You can start putting funds aside for expansion from the beginning.
Likewise, you have to keep up with numbers, forecasts, and budgets to manage the day-to-day cash flow. You have to ensure the business has enough funds to secure new clients and take cases to trial. After all, not every case settles. However, if you don’t have a knack for numbers, consider learning the ropes.
You can look for virtual programs such as MSF online to avoid the hassle of traveling to college. After all, online education gives students a lot of flexibility, motivating them to keep learning. As for your law firm, it will help in managing finances efficiently while practicing law.
2. Get Access to Funding:
Although you are stepping into a service business, you will need a hefty amount of capital and cash to start a law firm. From office rentals, conference rooms, stationary costs to staffing – you will come across a long list of expenses. Therefore, look for ways to obtain capital for your law firm. Here are some of the options you can explore.
Savings:
Whenever starting a business, make sure a small chunk of the capital comes from personal savings. That way, you will keep working in the game because you won’t be liable to another person when things get tough.
Bank Loan:
You can start with a few thousand dollars, but more capital gives lawyers enough runway to make the business profitable. Hence, if your savings don’t seem sufficient, opt for a bank loan or open a credit line to raise capital.
Startup Incubators:
Today, many incubators connect new business owners with funding to get going. Often, they use their contacts with angel investors to fund new businesses or seek help from venture capitalists.
3. Manage Taxes:
Most attorneys operating law firms aren’t aware of legal obligations. As a result, taxes hit them in surprising ways. You might get a call from Internal Revenue System (IRS) or a hefty fine for missing the deadline.
Similarly, many lawyers have difficulty categorizing deductibles. You might think everything is deductible, whereas your tax liability is higher than you predicted. These pitfalls not only halt business operations but are super pricey too.
Hence, consider bringing an experienced tax specialist on board. However, if you don’t have a budget for additional hiring, learn about the taxation policies yourself. It doesn’t mean you have to go back to school; instead, look for online programs. You can opt for an online LLM tax program and learn from the comfort of your home and office. It will help you plan for tax liability, closing doors for IRS audit, and incorrect tax deductions.
4. Streamline Invoicing & Payment System:
Usually, lawyers have different payment policies. When dealing with corporate clients, they charge a monthly fee and have separate legal charges for cases. On the other hand, they don’t charge when fighting for accident victims until the negligent party’s proven guilty. Despite having different payment policies, you must have an appropriate invoicing and payment system at the firm. You can leverage savvy software to automate the firm’s finances.
Moreover, record your income correctly. If you charge a retainer fee, treat it as an advance payment and track its spending on every case. Similarly, avoid recording any income in your financials until you have won the case. It will give you a realistic view of the firm’s financial position, making sure you are on the right track. Besides this, don’t forget to set flexible billing terms with the clients and discuss everything upfront to avoid issues later.
5. Prepare Budgets, Reports, & KPIs:
Having a budget is imperative for your law firm’s financial success. You have to estimate your expenses and the revenue you expect to earn. It will give you a solid idea of how much you should work to make the business profitable. Likewise, you have to prepare financials to catch a glimpse of profitability.
Well, to begin effective financial reporting, you have to start with the bookkeeping basics. You have to record all financial transactions and maintain a separate account for every client.
After this, you can prepare an income statement and balance sheet to determine the law firm’s equity. Also, create a cash flow statement to understand how much cash goes out and comes into the business. All these financials will be a brilliant source of insights about your law firm. You can spot trends, overcome weaknesses, and capitalize on your strengths to make the business more profitable.
Final Thoughts:
Every successful law firm considers numbers and data first. You have to create an excellent financial plan with a growth vision to make your law firm successful. Similarly, you have to manage cash flow, follow a detailed billing process, and raise sufficient capital. As you progress forward, a strong financial position will unfold new growth opportunities. You can tap into new practice areas, offer more services, and expand your team.
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Do you want to make use of the Cryptocurrency conversion calculator for your trading business? If yes, you must be well aware of the scenario while reaching your requirements with absolute ease. You must ensure scenarios can assist you in meeting your needs with ease.
This is where a crypto conversion calculator emerges as an invaluable tool. Here, effective planning while reaching your targets of higher profitability. Try to keep things in perfect parity while reaching your requirements with ease
The selection of the best Cryptocurrency calculator will always keep you updated about the recent trends in its prices. You should be well aware of it while meeting your objectives.
Demystifying Crypto Conversions
Unlike traditional currencies, Cryptocurrency will make the process of conversions more complex from your end. You should be well accustomed of the scenarios that can assist you in meeting your requirements with ease. Unless you follow the perfect solution things can become worse for you. You should make things easier for you in meeting your needs with ease.
Benefits Of Cryptocurrency Calculator
There are several benefits of a Cryptocurrency calculator that you must be well aware off while meeting your needs with ease. Some of the key benefits of a Cryptocurrency calculator are as follows:-
1. Simpler Profit & Loss Tracking
Manually calculating gains and losses on the holding of the Cryptocurrency. The process of multiple transactions can be tedious. You should be well accustomed of the facts while meeting your needs with ease. Here, proper planning holds the key.
You must get through the complete process that can assist you in getting things done in perfect order. Once you follow the right process things can become easier for you. Keep the process in perfect parity.
2. Offers Tax Planning Assistance
There are some Crypto calculators that can factor in the tax implications these are all based on tax regulations. You must identify the best process that can assist you in meeting your clarity with ease.
You should be well aware of the scenarios that can assist you in proper tax planning. Once you follow the best process things can become easier for you. Keep the process in perfect order. Here, effective planning holds the key.
3. Investment Planning & Scenario Building
Proper investment planning and scenario building can be possible with the help of Crypto calculators. Future investments and planning will become easier for you while reaching your needs with ease.
You just need to input the hypothetical purchase prices to make scenarios work well for you. From the future sale prices, you can easily estimate potential returns from different investment strategies. You must be well aware of this fact as well.
4. Improves Decision Making
The chances of improved decision-making increase due to the presence of the Cryptocurrency conversion calculator. You will get a clearer understanding of the potential outcomes for your Crypto trades.
The process of Crypto investment decision-making can make situations work for you in right order. Keep the process in perfect order while meeting your needs with complete clarity. Additionally, you must be well aware of the scenarios that can increase the chances of your brand value to a greater extent.
5. Identifying Profitable Opportunities
Some calculators can track some of the historical prices to analyze trends and data. It can be helpful for undervalued Cryptocurrencies. Thus spotting the opportunity moments for buying and selling the best profitable options.
It can assist you in reaching your goals with complete clarity and ease. You should be well accustomed of the situation while meeting your requirements. Ensure that you follow the process with complete clarity.
Utilizing A Crypto Conversion Calculator For Strategic Investing
A crypto conversion calculator offers a multitude of benefits for investors of all levels. Here's how you can leverage this tool to make informed investment decisions:
Identifying Trading Opportunities:
You can easily identify the trading opportunity with the help of a Cryptocurrency calculator. This will boost the chances of your earnings and profitability to a greater level. Ensure that you maintain the best process from your end.
Calculating Transaction Costs
Calculating the transaction cost will become easier for you once you follow the best process from your end. Try to maintain a better solution that can assist you in getting the correct solution from your end.
Portfolio Management
The portfolio management will become easier once you make use of the Powerful Cryptocurrency calculator. You need to be well aware of the scenarios that can assist you in meeting your needs.
Research And Analysis:
Once you know the current trend in Cryptocurrency things can become easier for you to understand in reaching your goals. Here, effective planning holds the key. You must not make things too complex at your end.
Choosing The Right Crypto Conversion Calculator
You must select the best Cryptocurrency conversion calculator that can assist you in meeting your needs with complete clarity. Once you follow the correct steps things can become easier for you.
Security and Reputation: You must select the conversion calculator from a reputable source. So that you can make things happen in your way within a specific time frame.
Available Features: You should evaluate features that can assist you in meeting your needs with ease.
Ease of Use: For a seamless user experience user-friendly interface is very crucial. You should understand these facts while meeting your requirements.
Mobile Compatibility: Try to consider the user-friendly compatibility to make things happen in your favor.
Essential Features Of CryptoCurrency Calculator
There are numerous features of the Cryptocurrency calculator that you should be well aware of. Some of the key factors that you should be well aware of are as follows:-
1. Multiple Cryptocurrencies
The calculator should support a wide range of Cryptocurrencies. Thus it allows users to convert them in the form of tokens and coins. Ensure that you follow the correct solution that can assist you in meeting your requirements.
You need to identify the best options that can assist you in meeting your requirements with ease. Ensure that you follow the best process from your end. Additionally, you should be well aware of the new market trends before making investments.
2. Fiat Currencies
Integration with the fiat currency is crucial. The users can understand the value of the Crypto holdings in traditional terms. You must ensure that you follow the best process that can assist you in meeting your needs with ease.
You must follow the best process from your end while meeting the needs with complete clarity. Additionally, you should be well aware of the scenarios that can assist you in meeting your requirements with ease.
3. Real Time Rates
Updated exchange rates are essential before you make investments in Cryptocurrencies. Thus it reflects the dynamic nature of the Cryptocurrency market. Try to feel free to meet your objectives with complete ease.
Once you know the updated rates, the modes of investments become easier for you. Additionally, you must keep the process in perfect order.
Conclusion
A cryptocurrency conversion calculator can make things work accurately and well for you. Cryptocurrency calculator will help you to meet your objectives with absolute clarity. Ensure you maintain the best process from your end when you want to reach your goals.
Hence, you can share your views and comments in our comment box. This will help us to know your take on this matter. Once you follow the best options things can become easier for you. Try out the best options that can assist you in meeting your needs.
Whenever you select the Cryptocurrency calculator, ensure that you have made a selection from authentic sources. Try to avoid the chances of security breaches as it is a matter of your hard-earned money. You cannot afford to compromise on it.
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