FINANCE Archives - Stuff In Post https://www.stuffinpost.com/category/finance/ Everything About Technology Tue, 07 Nov 2023 11:34:53 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.1 https://www.stuffinpost.com/wp-content/uploads/2020/03/cropped-Stuff-In-Post-1-32x32.png FINANCE Archives - Stuff In Post https://www.stuffinpost.com/category/finance/ 32 32 5 Best Lounge-Access Credit Cards That Can Alter Your Travel Experience https://www.stuffinpost.com/5-best-lounge-access-credit-cards-that-can-alter-your-travel-experience/ https://www.stuffinpost.com/5-best-lounge-access-credit-cards-that-can-alter-your-travel-experience/#respond Tue, 31 Oct 2023 13:39:45 +0000 https://www.stuffinpost.com/?p=7228 Going through the airport terminal can be a stressful experience, but having access to a

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Going through the airport terminal can be a stressful experience, but having access to a lounge can make it so much better. With the right credit card in your pocket, you can unlock even more benefits, making travel far more enjoyable. From increased rewards to generous perks, these are the perfect picks for anyone who wants to elevate their travel experience and get the most out of their next journey. In this blog, we’ll delve into the top 5 lounge-access credit cards from IDFC FIRST Bank that can enhance your travel adventures.

Let’s take a look at these credit card with lounge access.

1. IDFC FIRST Bank’s Select Credit Card

This credit card is a game-changer. It’s not just another piece of plastic; it’s your ticket to a world of luxury and convenience. The IDFC FIRST Select Credit Cardis a lifetime free card that doesn’t skimp on the perks. You’ll enjoy unlimited rewards and all-round benefits across multiple categories.

Lounge access is just one of the fantastic features this card offers. You’ll also receive incremental rewards, a welcome voucher, and benefits that extend to movies, golf, and dining. It’s marketed as a ‘premium card,’ and rightfully so, as its benefits surpass what you’d typically expect from a zero annual fee credit card.

2. IDFC FIRST Bank’s Classic Credit Card

If you’re dipping your toes into the world of credit cards or prefer a no-annual-fee option, the IDFC FIRST Bank’s Classic Credit Card is an excellent choice. It may be an entry-level card, but it punches above its weight when it comes to benefits.

As a welcome gift, you’ll receive vouchers worth Rs. 500 to kickstart your card membership. But that’s just the beginning. This card offers premium privileges across various categories, including entertainment and lifestyle. Plus, you can earn up to 2.5% returns, which is quite impressive for a card with no annual fee. Conveniently manage your finances with secure credit card bill payment options

3. IDFC FIRST Bank’s Wealth Credit Card

The IDFC FIRST Bank’s Wealth Credit Card is perfect for those who want all-round benefits without the burden of annual fees. Despite being a lifetime free card, it offers reward points without an expiry date. This feature is usually reserved for premium cards, but IDFC FIRST Bank is changing the game.

With this card, you can accumulate rewards at your own pace and redeem them when it suits you best. It’s an ideal choice for individuals who appreciate flexibility and want to enjoy the perks of a premium lounge access credit card without the associated costs.

4. Club Vistara IDFC FIRST Credit Card

Club Vistara IDFC FIRST Bank’s Credit Card should be on your radar; as it offers some fantastic benefits, including up to 5 Premium Economy Class Tickets as joining and milestone rewards.

But that’s not all. This card boasts a more extensive reward structure, a relatively low foreign exchange mark-up fee of 2.99%, and even golf benefits. If you compare Vistara co-branded cards, this one might have a slight edge over the competition.

5. IDFC FIRST Private Credit Card

If you’re a high earner who enjoys the finer things in life, the IDFC FIRST Bank’s Private Credit Card is tailor-made for you. This super premium card offers a unique redemption option against charitable donations that can even get you a tax certificate.

With this card, you can indulge in luxury travel experiences, just like the ones offered by other cards in the super-premium category.

Conclusion

IDFC FIRST Bank has a credit card to suit every lifestyle and preference. Whether you’re a frequent traveler, a budget-conscious spender, or a high earner, there’s a card that can transform your financial journey. So, why wait? Elevate your travel experience and enjoy premium benefits with these fantastic credit cards from IDFC FIRST Bank.

Also Read : How To Avoid Credit Card Skimmers?

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Technology Changes The Way Of Investing In Forex https://www.stuffinpost.com/technology-changes-the-way-of-investing-in-forex/ https://www.stuffinpost.com/technology-changes-the-way-of-investing-in-forex/#respond Fri, 13 Oct 2023 17:56:32 +0000 https://www.stuffinpost.com/?p=7208 Forex, or what is the same, the currency exchange market, has been facilitating international trade

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Forex, or what is the same, the currency exchange market, has been facilitating international trade since the times when communications were much slower than today, specifically since the Bretton Woods agreement unlinked the price of the dollar (world reserve currency) of the gold standard, since although currency exchanges were also carried out before, since the end of the gold standard the dollar exchange rate was no longer fixed. The US currency was now free to float freely compared to the rest of the international currencies, which was no small feat since the dollar is found in the most liquid pair exchanges.

Although this market was initially limited to a more professional area, in recent years, it has become increasingly accessible to the general public, so it is necessary to know not only how to do it but also the potential risks since, indeed, there are risks as well as potential opportunities.

Forex on mobile

The Internet and smartphones have been two of the most disruptive technologies of the twenty-first century, and thanks to this, connectivity between people around the world has increased in ways that no one could have foreseen, and in the same way, it allows everyone access to services that previously were either exclusive to professionals or required a very high effort on the part of amateur traders.

Now, this is no longer the case since anyone of legal age can trade forex as long as they have a cell phone that can connect to the Internet (it can also be done from the computer, and in fact, it is the most comfortable method for, among other things. , consult graphs and analysis) to be able to open a short or long position at any place and time, and this, of course, has risks, such as the investor not investing enough time in learning about the instruments It means doing leveraged trading and its risks, very different from a classic purchase and sale. However, many novice investors may be confused by believing that forex trading involves acquiring the currency, which is not the case.

For the rest, forex is a market well known to the most classic investors, probably along with the raw materials and stock markets. Still, it is usually the gateway for many first-time trading investors, perhaps because it handles concepts that most people are familiar with, which, thanks to technology, is very well complemented by the greater accessibility of tools such as the economic calendar, which helps to more efficiently manage information that affects the price of currencies, such as quarterly unemployment data, the CPI or a multitude of industrial indicators, to give just a few examples.

In addition, forex brokers can offer other instruments with which to trade on their platforms, which have their own characteristics and peculiarities.

Not only has the way of investing changed, but also the instruments.

Before 2009, cryptocurrencies did not exist, and today, only bitcoin is trading above $50,000 and capitalizes more than a trillion dollars. Of course, they have become another instrument for trading, although as already mentioned, they have particularities, such as that the level of leverage allowed on some platforms can be much lower since it is a very volatile asset and too high leverage would imply excessive risk even for the most experienced traders.

To understand ​​what volatility entails, look at a bitcoin graph. If you look hard enough, you will be able to find instantaneous drops of thousands of dollars from time to time that may sometimes respond only to the action of a whale. So, a trader who had correctly predicted an uptrend and opened a long position would still see his position closed against, so it is very important to consider the level of leverage used.

Also Read : How Can Traders Use Technology To Improve Their Financial Performance?

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The Queue Culture of India Is Going To Disappear with Online Booking Solutions https://www.stuffinpost.com/the-queue-culture-of-india-is-going-to-disappear-with-online-booking-solutions/ https://www.stuffinpost.com/the-queue-culture-of-india-is-going-to-disappear-with-online-booking-solutions/#respond Thu, 07 Sep 2023 18:01:21 +0000 https://www.stuffinpost.com/?p=7159 India’s economic growth and ongoing development in diverse sectors are worth appreciating. But every country

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India’s economic growth and ongoing development in diverse sectors are worth appreciating. But every country has its flavor and signature style – India’s one of the most visible characteristics is an unstructured and unorganized system that results in long queues.

The Problem

In India, one can see queues here and there – be it money withdrawal from the bank to booking essentials like cooking gas, paying tax, electricity bill, water bill, to buy entry tickets for any place – there are long queues EVERYWHERE.

And the strange fact is that Indians are pretty used to this queue culture – they often have the attitude to spend a couple of hours whenever they need to do any of the activities mentioned here. Strangely, it may surprise you, but these people are completely okay with this. Any of these activities without a queue leaves them wondering “What” and “How”!

The Deeper Level of the Problem

In the rural areas, the scene is even worse – people have to stand in a queue to get the essentials like water, food, etc. There is no age limit or gender bias to stand in queues: for example,  students stand in lines to complete their institutional formalities. What worsens the situation is that the queues barely move – people have to stand under sun, rain, and storm, and sometimes they are asked to come the next day as no more tickets are left, or the timing is over.

Here are a few situations where queues are very common in rural, semi-urban and urban areas:

  • Billing counters in hospitals
  • Diagnostic centre
  • Banks (both withdrawal and deposit counters)
  • Insurance companies
  • Billing counters of mega shops
  • Any ticket booking counters (car/bus/train/flight)
  • Tax payment counters
  • Electricity bill payment
  • Gas booking
  • Any service-providing center
  • Amusement/adventure park ticket counter
  • Ticket counters of tourist places
  • Movie/show/game ticket counter

In short, you have to stand in a queue if you need to get a service or an entry ticket, and you have to sacrifice your essential tasks for the day to be in that queue. Sometimes, many people fail to get their booking or access pass or service ticket as:

  • No more tickets are left
  • Counter is closed after a certain time

In India, basically, people have to wait longer for their turn to get the service. Be it the essential services or the luxury services –  people may have to make multiple attempts to get a successful booking.

So, What Is the Way Out?

It seemed like a deep-rooted problem having no way out – but is that for real?

Well, of course NOT!

India is on its way to a cashless economy – so why should people not expect online booking and ticketing services for all these tasks?

Currently, online mobile bill payment, gas booking, tax payment, and many other payments are in. Yes, even the rural people in India are slowly getting used to online bill payment.

Next, there are booking apps that power easy movie/show ticket booking, hotel booking, ticket booking, etc. However, small players cannot avail their service due to the hefty cost. For example, entry-level music or dance show organizers, hotels, parks, or event companies need help getting the assistance of these apps. They have to stick to offline culture, and that results in queues. Simplistically, they cannot bear the cost of these apps.

What Is Actually Needed?

The present need of these merchants, especially the entry-level ones, is a simple solution so that they can take all their booking services online and offer the services to a broader base of customers. More specifically, they need a solution that will not require the merchants to write long pages of code or have excellent design knowledge.

And, of course, the platform should not empty their pockets.

They need a solution where they can fill in the details of their booking services, and their customers can view the details and book it. Not just that, this solution should also offer a payment solution so that the customers can pay for their bookings from their homes without standing in a queue.

The Current Scenario

In order to get rid of the queue culture, several Indian companies are coming forward. It is visible that the companies have tried everything to make their solution as simple as possible. They have aimed to minimize the trouble of the merchants and are undoubtedly successful in doing that.

At present, a number of companies offer booking solutions so that even the smaller players can take their booking services (be it appointment booking, travel booking, show/movie booking, or entry ticket booking) online and offer an easy booking facility to their customers. The best part of these solutions is the merchants need to put in little effort and spend less.

With the editable templates, merchants just need to select their preferred template and edit the details to complete the process. Once they preview their inputs and are okay with that, they can go live to make these tickets purchasable for the customers.

Acceptance of the Online Solutions

Moving on to the customers’ reaction to these online booking solutions – it is very convenient, especially for the working population of urban India. It is like a savior to them because they do not have to avail half-day off or late-login approval to make some bookings.

For the rural area, the online services are yet to be accepted. It is known that rural areas gradually have smartphone and internet access. Initially, they do not have the option to make these bookings online. As a result, they have to stand in a queue to complete these bookings. But, right now, the situation is different.

However, smartphones and high-speed internet connectivity have entered these places. Right now, the missing link is the awareness. Therefore, a certain portion of the rural population can access these services. To take this further, the companies offering booking solutions and the merchants using their booking solutions to take their booking online must promote these collaboratively. As a result, end-users will know about it and book it – it will altogether solve the queue problem. Live demos of how to make a booking with their smartphones and how the process will be at the time of availing the services can be very helpful here.

Wrapping up…

The queue culture is very dominant in India, and it will take some time to disappear, especially in rural areas. Proper awareness will show these people the ease of the new system. However, the awareness campaigns may sometimes be challenging in these areas as the people here hold a conventional mindset. We expect that some smart and realistic approaches will create proper awareness in these areas. One day, they will accept online booking services with open arms, and we can see a queue-free India.

Also Read: Future For Digital Bitcoin Currency

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Pros And Cons Of High-Yield Savings Accounts: Is It Worth It? https://www.stuffinpost.com/pros-and-cons-of-high-yield-savings-accounts-is-it-worth-it/ https://www.stuffinpost.com/pros-and-cons-of-high-yield-savings-accounts-is-it-worth-it/#respond Fri, 07 Jul 2023 12:47:45 +0000 https://www.stuffinpost.com/?p=7041 A savings bank account is imperative for future planning and financial stability. It serves as

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A savings bank account is imperative for future planning and financial stability. It serves as a secure place to park funds and earn interest and access funds as per your need. As the pre-eminence of savings bank accounts continues to rise, a new account type has gained massive popularity in current years – high-yield savings bank account. This unique account provides higher rates than traditional savings accounts, making it a reasonable choice for regular savers. Explored here are the benefits and downsides to open a bank account with high interest rates.

What are the pros of opting for a high-yield savings bank account?

  • Higher rate of interest

One of the major benefits of a high-yield account is the provision of higher savings account interest rates. In comparison to traditional accounts that often offer minimal account interest rates, high-yield savings bank accounts offer substantially higher interest rates, permitting your saving constituent to grow faster in the long run.

  • Better returns on parking

Higher rates generated by high-yield accounts make them an excellent option if you are looking for a low-risk parking option. While the returns might not be as those of riskier instruments like mutual funds or stocks, high-yield accounts offer a safer alternative with satisfactory returns.

  • High liquidity

Unlike long-term financial instruments that might restrict access to funds for a particular time period, high yield saving accounts provide easy fund access. This flexibility is especially useful during exigencies or when you require instant access to savings.

  • Competitive features

High yield account often offers additional features like mobile apps, online banking, 24/7 customer service, etc. These features increase the entire banking experience and endow convenience for managing your money effectively.

What are the downsides of opting for a high-yield savings account?

  • Minimum average balance requirement

A few high-yield savings bank accounts might have higher minimum balance requirements than traditional savings accounts. Failure to maintain a minimum balance amount results in penalties. It is crucial to carefully factor in your financial situation to ensure that you can meet the balance requirement before you open bank account.

  • Limited banking option

High-yield savings account interest rates are often offered on digital bank account, which means they may come with certain restrictions such as disallowance to visit the institution’s branch location physically. This can be a drawback for individuals who consider direct interaction or are not well-versed with digital banking services and prefer physical banking.

  • Fluctuation in the rate of interest

High-yield savings account rates are subject to change based on the market condition and the institution’s policies. While a rise in interest rates works in your favour, it even means that your interest earnings on your savings account might fall if rates decrease. It is essential to stay updated about the changes and be prepared for potential interest rate fluctuations.

Ending note

High yield saving bank accounts offer various benefits that make the account an appealing choice for savers. One such crucial benefit is the provision of higher rates that help grow your savings more quickly than traditional bank accounts. Moreover, the swift accessibility to instant funds and competitive benefits offered by online accounts makes high-yield accounts suitable for managing finances.

But it is crucial to factor in the cons too. Minimum balance requirements clubbed with limited banking services might not be a suitable option for everyone. Thus, before you open a bank account offering high savings account interest rates, you must carefully evaluate your preferences, financial condition, and short-term financial goals to decide if it is in alignment with your needs.

Lastly, a high-yield bank account can pose as an effective financial instrument for forming a pragmatic financial safety net for attaining your financial goals, provided you understand the benefits and drawbacks and make a well-informed decision depending on your individual condition.

Also Read : Cybersecurity In Banking: Biggest Threats To Know About

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The Evolution of Crypto Investment Strategies In a Volatile Market https://www.stuffinpost.com/the-evolution-of-crypto-investment-strategies-in-a-volatile-market/ https://www.stuffinpost.com/the-evolution-of-crypto-investment-strategies-in-a-volatile-market/#respond Tue, 04 Jul 2023 07:03:54 +0000 https://www.stuffinpost.com/?p=7029 The cryptocurrency market, a wondrous spectacle of financial innovation, can be as tempestuous as it

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The cryptocurrency market, a wondrous spectacle of financial innovation, can be as tempestuous as it is lucrative. This volatility, while alluring to some, can deter potential investors, dissuading them from the dazzling prospects of crypto assets. So, how do we navigate this tumultuous terrain? Let’s delve into the evolution of crypto investment strategies designed to tackle market volatility.

The Traditional HODL Approach

Initially, many adopted the “HODL” mentality—buying and holding crypto, hoping their investments would surge in value over time. This strategy, derived from a fortuitous typo in an early Bitcoin forum, has become a popular rallying cry among crypto enthusiasts. However, while long-term holding has proven profitable for early adopters, the intense volatility means it’s not always the most effective approach for newcomers.

The Advent of Dollar Cost Averaging (DCA)

To navigate the swings of crypto markets, many investors turned to Dollar Cost Averaging (DCA). This strategy involves regularly buying a fixed amount of a particular asset, regardless of its price, to spread investments over time. The premise is that while we can’t predict market highs and lows, DCA can potentially lower the total average cost per share of the investment, giving the investor a lower overall cost for the shares purchased over time.

Exploring Crypto Mining and Altcoin Opportunities

Beyond the traditional buy and hold, the rise of altcoins offered new strategies for crypto enthusiasts. One such approach involves mining lesser-known altcoins, not just Bitcoin. Mining altcoins can be less competitive than mining Bitcoin, offering an attractive gateway to crypto investment. These mined altcoins can then be converted to Bitcoin or held in anticipation of price appreciation.

Integrating Technology: Enter the MiFi Protocol

Taking this strategy a step further, Helios Fund introduced an innovative method of dealing with crypto volatility— the MiFi (Mining-Finance) protocol. This protocol enables weighted device allocations to various cryptocurrencies and smart rebalancing between altcoins and Bitcoin, providing a unique pathway for Bitcoin accumulation. By mining a basket of cryptos and converting the yields to Bitcoin, Helios Fund leverages market volatility, transforming it from a challenge into an opportunity.

The Future of Crypto Investment Strategies

As we venture deeper into the crypto era, the evolution of investment strategies mirrors the industry’s rapid advancement. These shifts are reflected in the emergence of crypto index funds, DeFi staking, yield farming, and liquidity mining, among others. It’s a clear testament to the flexibility and dynamism inherent in the blockchain space.

Navigating the Crypto Future

Investing in crypto is not a sprint; it’s a marathon. It’s about perseverance, smart strategies, and leveraging technology to turn volatility into an advantage. With protocols like Helios Fund’s MiFi, investors now have more tools to navigate the crypto market’s turbulent waters.

While the crypto market’s volatility may not abate soon, our ability to adapt to it continues to evolve, offering the potential for outsized rewards for those ready to meet the challenge head-on. The crypto investment landscape is burgeoning with opportunities for those daring enough to embrace volatility and adopt these novel investment strategies.

Also Read : A Comprehensive Guide to Market Capitalization of Cryptocurrencies

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Future For Digital Bitcoin Currency https://www.stuffinpost.com/future-for-digital-bitcoin-currency/ https://www.stuffinpost.com/future-for-digital-bitcoin-currency/#respond Tue, 21 Feb 2023 02:03:00 +0000 https://www.stuffinpost.com/?p=6317 Bitcoin is a digital currency that was created by an anonymous person, or group of

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Bitcoin is a digital currency that was created by an anonymous person, or group of people, calling themselves Satoshi Nakamoto. It’s a decentralized peer-to-peer payment system with no central bank or government. There are no transaction fees and it can be exchanged between anyone without the need for any third party to process payments.

How Does Bitcoin Work?

1. Choose a Trading Platform: You can choose from various trading platforms to get started with Bitcoin trading.
2. Get set up: Once you have chosen your trading platform, you need to get set up with the necessary funds and settings.
3. Sign up for a free account: After you have completed setup, you can sign up for a free account to start trading.

Pros and Cons of Digital Currency Other Altcoins

Pros:

  • Easily transferable: digital currencies are easily transferable between individuals and can be traded on a variety of exchanges.
  • Secure: digital currencies are secure in that they are not subject to the devaluation of paper currency.
  • Anonymous: many digital currencies offer anonymity features, making them popular with criminals and underworld figures.
  • Volatile: while digital currencies are more volatile than traditional currencies, this also makes them more attractive to investors.
  • Interchangeability: digital currencies can be exchanged for other digital currencies or traditional currency.

Cons:

  • Limited supply: there is a limited supply of each digital currency, meaning that their value is subject to market forces.
  • High volatility: as digital currencies are highly volatile, their value can change rapidly, making them risky for investors.
  • Susceptible to cybercrime: because digital currencies are online, they are vulnerable to cybercrime and theft.
  • Centralized control: As a few large institutions control digital currencies, they may be susceptible to government control or manipulation.
  • Volatility may make them unsuitable for everyday transactions: while digital currencies may have increased in popularity over the past few

Conclusion

It seems as though there is a future for digital bitcoin currency, especially given the recent surge in interest. Over the past few years, digital bitcoin currency has seen a rapid increase in popularity, and this trend looks likely to continue. As long as these factors remain positive, it seems evident that digital bitcoin currency will continue to grow in popularity and value and you can get updates about Bitcoin News from multiple channels online.

Also Read : Reasons Why You Should Set Up a Bitcoin ATM

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Can You Have Multiple Trading Accounts In India? https://www.stuffinpost.com/can-you-have-multiple-trading-accounts-in-india/ https://www.stuffinpost.com/can-you-have-multiple-trading-accounts-in-india/#respond Fri, 10 Feb 2023 10:45:36 +0000 https://www.stuffinpost.com/?p=6765 A trading account is an investment account that contains equities, derivatives, cash and other holdings

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A trading account is an investment account that contains equities, derivatives, cash and other holdings owned by a trader. It is a prerequisite for entering the arena of share trading. If you want to start trading in financial securities, you can also open a trading account online.

Usually, one account is enough to execute your orders. But can you have multiple trading accounts in India? The short answer is yes. But there is more to it. Read on to discover.

Can You Open Multiple Trading Accounts Online?

Let’s say you are an intraday trader. You have an account with a full-service broker that provides free perks such as trading reports, advisory and tools. However, you feel that your current broker does not offer enough discounts or competitive brokerage.

In that case, you can search for a discount broker and open a trading account with them. Now you can use your previous broker for research and the latter’s intraday trading app or platform to trade on discounted brokerage! Thus, you can have more than one trading account but you cannot open them with the same broker.

You can choose to link all your trading accounts with one Demat account as you cannot open different Demat accounts with other brokers.

But what are the pros and cons of having multiple trading accounts? Let’s learn.

Advantages of Multiple Trading Accounts

Here are some perks of having more than one trading account.

  • Having multiple trading accounts enables you to smartly segregate your investment portfolio for easier management.
  • When you open trading accounts with different brokers, you enjoy benefits such as competitive brokerage, research reports, a variety of trading features, etc.
  • Setting up a trading account online is super easy. For example, you can create a trading account in minutes using a web or intraday trading app on your smartphone.
  • If you are not happy with the services of your current broker, having a trading account with other brokers makes switching easier.
  • If one broker is experiencing technical failures, you can still trade using another broker.

That all sounds so good. But are there any cons to having more than one trading account? Sadly, yes.

Disadvantages of Multiple Trading Accounts

Let’s talk about some disadvantages of creating multiple trading accounts.

  • Tracking every trade on every trading account becomes a big obstacle.
  • If you have too many accounts and you are not actively using some of them, they might end up freezing.
  • You may be subjected to account opening and maintenance charges when opening a trading account with brokers.

Dhan enables you to open a trading account and start trading without any initial fees or charges. You can create an account by following a simple and completely paperless process.

Conclusion

You can have multiple trading accounts online in India but you cannot open them with the same broker. If you choose to open different trading accounts, you can easily segregate your investment portfolio and enjoy the benefits offered by different brokers. However, you must be willing to accept the charges that come with opening and maintaining multiple trading accounts.

Also Read : Consolidate Secondary Apps And Data, And Accelerate Your Move To Hybrid Cloud

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Know How You Can Apply for an Online Business Loan without Any Collateral? Read on https://www.stuffinpost.com/know-how-you-can-apply-for-an-online-business-loan-without-any-collateral-read-on/ https://www.stuffinpost.com/know-how-you-can-apply-for-an-online-business-loan-without-any-collateral-read-on/#respond Mon, 23 Jan 2023 11:42:58 +0000 https://www.stuffinpost.com/?p=6734 Small Business Loans help businesses grow by enabling them to hire and upskill staff, fund

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Small Business Loans help businesses grow by enabling them to hire and upskill staff, fund research & development, streamline sales and marketing strategies, expand into new markets, and much more. These are collateral-free loans available at competitive interest rates on flexible repayment terms, helping businesses manage expenses without straining their budget. A small or medium-sized business owner can apply for a Business Loan to achieve goals and even finance daily operations. Here, we will explain the crucial steps to getting an SME loan without putting up collateral.

Find the Best Loan Offer

Presently, many institutions and NBFCs offer SME loans. Online research is an excellent way to conveniently check loan plans without pulling hard enquiries and finalising the best loan offer without visiting a branch office. Here are a few parameters to check the loan offers.

  • Loan Amount: The loan amount should be enough to cover the intended expenses and achieve the business growth goals.
  • Interest Rates: Lower the interest rate, the cheaper the loan cost. Many NBFCs and banks determine the interest rate based on the applicant’s credit history, annual turnover, business vintage and nature, financial obligations, etc. Improve eligibility to get the best interest rate and save money by reducing the loan cost.
  • Repayment Terms: Select a lending institution with flexible repayment terms to choose a tenure with budget-friendly EMIs.

Besides these three crucial variables, check the processing charges, eligibility conditions, documentation requirements, customer service, and other factors of various loan offers to finalise one.

How do Lending Institutions View the Applicant’s Risk and Credit Profile?

Whenever an entrepreneur applies for a Business Loan online, lending institutions look at various factors before approving the loan.

  • Credit Score: Lending institutions review the applicant’s credit score, credit report, and repayment history to ensure a clean and blemish-free credit history.
  • Outstanding Loans: They review the outstanding debts and loans to ensure a sufficient cash flow to pay the existing obligations and new loan EMIs.
  • Business Assets: Reviewing the business assets helps lending institutions see how the applicant will repay the loan in case of a default.
  • Business Vintage: Lending institutions prefer businesses that have been operational for at least a few years in the industry.
  • Financial Statements: Lending institutions scrutinise the financials to ensure a consistent cash flow and regular EMI payments.

Keep Financial Statements in Order

Depending on the loan size, the lending institution carefully reviews the applicant’s accounting records and financial statements. So, ensure they are correct, thorough, and complete, including the balance sheets, cash flow statements, and profit and loss statements.

Since accounts receivable, accounts payable, debt to income ratio, gross margin, EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation), and cash flow are crucial variables to determine repayment capacity. Be prepared to answer some queries on these topics and keep the relevant documents ready. Having an accountant look over the financial statements will help anticipate any potential complications in the future.

Gather Details for the SME Loan Application

You must furnish detailed information and business documents to apply for a Business Loan. Most eligibility conditions include the applicant’s age, annual turnover, business vintage and performance, experience, business type, etc. Lending institutions ask for the applicant’s identity and address proofs, financial documents, and proof of ownership to verify these details. It is imperative to ascertain eligibility and keep all documentation ready.

Be Clear about the Loan Requirements and Purpose

Unlike traditional loans, unsecured Business Loans come without any end-user restriction. Still, when applying for a Business Loan, you should evaluate their expenses and borrow a little extra to avoid a cash crunch and subsequent loan application. Borrowing and spending the loan amount wisely and ensuring its timely repayment would build a strong relationship with the lending institution, which can be useful for any future loan requirement from the same lending institution or NBFC.

Determine the Collateral Requirement

Lending institutions are primarily concerned about the borrower’s ability to repay their loan. In the case of secured loans, borrowers pledge an asset as collateral to secure their Business Loan. If the borrower fails to repay the amount, the lending institutions use the asset to recover their money.

In the case of unsecured Business Loans online, NBFCs usually come good and approve the loans based on the applicant’s credit history, cash flow, business finances and in-person verification. Also, no collateral, guarantor, or security is involved in these loans.

New-age lending institutions like Clix Capital continually strive to help entrepreneurs applying for unsecured Business Loans online with minimum documentation and no collateral. Their approval process is quicker than traditional institutions. Once approved, the loan amount is disbursed to the applicant’s account instantly.

Analyse the Business Loan Key Terms

Analysing key terms is essential for selecting a sensible Business Loan. These are a few key terms to review:

  • Loan interest rate
  • Interest types like fixed or floating
  • Frequency of interest payable
  • Loan origination fees and other costs, such as administration fees, processing charges, and underwriting fees
  • Operating covenants like debt-to-income ratio and minimum annual turnover
  • Risk factors for loan default
  • Documentation requirements
  • End-use restrictions
  • Prepayment options and foreclosure charges

Review the Online Profile

NBFCs offering Business Loans perform due diligence on the applicant’s online profile, including their information and reputation among customers. So, take the following steps to modify the business’s online presence to make a positive impression:

  • Review the business website and keep it professional-looking and up-to-date
  • Ensure active presence on social media platforms like Facebook, LinkedIn, Twitter, etc.
  • Verify online ratings and reviews while paying attention to negative ones
  • Re-evaluate the business owner’s online postings, and testimonials

Get Educated on the Application Process

The more educated an applicant is about the online Business Loan application process, the likelier they are to obtain the required funds. Here are a few things to review.

  • Eligibility conditions
  • Documentation requirements
  • Application procedure
  • Approval time
  • Details to be provided

Several NBFCs offer Business Loans with various choices customised to the applicant’s financial situation and loan needs. By understanding the loan procedure and anticipating the lending institution’s requirements, applicants can significantly increase their chances of obtaining the necessary funds at the right time. Apply for a Business Loan after checking these parameters and increase your chances of getting the funds without collateral.

Also Read : Digital: Act, Not Just Declare

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Blockchain: The Application Of Today And Of The Future https://www.stuffinpost.com/blockchain-the-application-of-today-and-of-the-future/ https://www.stuffinpost.com/blockchain-the-application-of-today-and-of-the-future/#respond Thu, 19 Jan 2023 08:22:00 +0000 https://www.stuffinpost.com/?p=6110 Blockchain is an incredible technology revolutionizing the industry, we already have some tastes, but the

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Blockchain is an incredible technology revolutionizing the industry, we already have some tastes, but the future will be incredible. 

The birth of the Blockchain can be traced back to 2009, when Bitcoin, the best-known cryptocurrency in the world, was born.

Bitcoin was the first distributed ledger system in the world that inspired companies and developers to create new ones, reaching the most disparate topics.

The Blockchain is like a decentralized ledger made up of blocks; the information travels from block to block to the chain, and at each step, there is an autonomous check that validates the validity of the operation.

“Secure exclusive savings on the decentralized ledger network by applying a ledger discount code for your Blockchain transactions.”

Technology, therefore, allows for the first time to have a decentralized, digital, and above all, reliable verification system, which places it on the podium of modern revolutions.

The Birth Of The Blockchain

The birth of the Blockchain takes place according to some well-defined moral and scientific principles:

  • Decentralization: the travel of information on several decentralized blocks allows for more security;
  • Traceability: every movement on the Blockchain is traceable and traceable to real persons – natural or legal -; this allows you to avoid unpleasant pleasantries that could embrace illegality.
  • No intermediary: no third party to mediate the negotiation between two parties, allowing, for example, a safe, direct, and low-cost transaction.
  • Total transparency: Every movement on the Blockchain can be consulted by anyone; the fundamental element is to know the operation’s key that allows you to view the journey and the topic of the Blockchain.
  • Immutability: the operations carried out on this technology are immutable; therefore, they allow the insertion of clauses – in the case of smart contracts on the Blockchain – and do not provide for fraudulent changes.
  • Programmability: each operation is programmable, and it is possible to start operations based on the input received. For example, in the case of smart contracts, it is possible to receive an additional sum of money upon reaching a preset goal; think, for example, of player bonuses.

Given the founding principles of the Blockchain, we can start thinking about future (and some already current) applications. 

For example, there is already talk of e-wedding or the possibility of getting married without the need to contact a priest or the mayor. The official marriage would take place without an intermediary

But in addition to this nice application, let’s see some application examples and the medium’s potential.

Verification Of The Authenticity Of The Jewels

When we talk about jewelry or precious stones, we must understand how many counterfeit products are in circulation and sold as if they were real.

Diamonds, above all, are among the most counterfeited valuables, but with the Blockchain, Everledger has decided to trace each diamond extracted and make the process that brings the diamond from the mine to the jewelry available for everyone to see.

In this way, it is possible to analyze the extraction, processing, and marketing process, observing its real value without incurring possible fraud. 

Buying Real Estate All Over The World Online

There is a platform called Rex that allows everyone to buy properties worldwide from the comfort of a PC or smartphone.

This is because the contract that verifies the purchase takes place via the Ethereum platform, an immutable blockchain that guarantees ownership after the transaction.

In this way, we could say goodbye to intermediaries and save time and money on purchasing the property. However, such an application is only in its infancy, but it is incredible to think how, in the short term, we could buy a property with a simple click.

Digital Voting

A thorny issue is digital voting. We are used to showing up in the voting booth to vote, but what if, in the future, we could do it from home and legally?

Blockchains are being discussed, allowing citizens to vote digitally without physically presenting themselves to the polling stations.

Before seeing the digital vote, there is a need for a platform that records the vote univocally, prevents it from being falsified, and guarantees the uniqueness of the single vote

Blockchain, Potential, And Future

As we have been able to observe, the moral and founding principles of the Blockchain are, at least on paper, deontological and ethical. At present, we can already have a taste of applications of this technology, such as seeing the origin of the foods we put on the table every day.

But if we are already discussing weddings and real estate purchases without intermediaries today, what could we do on a blockchain network in the future?

We already have some ideas. 

An example could be the complete digitization of documents to make it impossible to falsify or manipulate people’s identities.

Or we could monitor production processes in companies like ours and validate portions of code so that our applications are unique and safe from possible theft.

Many companies already use the decentralized system, bringing enormous benefits both in economic terms and in reputation. We have already seen how companies apply technology.

We care about the world of Blockchain and already work with our partners to develop applications for this technology and BSV Blockchain is one such trusted source.

Also Read : AdWords Management Companies: How To Find Them

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Get Started in Trading with the Immediate Edge App https://www.stuffinpost.com/get-started-in-trading-with-the-immediate-edge-app/ https://www.stuffinpost.com/get-started-in-trading-with-the-immediate-edge-app/#respond Mon, 19 Dec 2022 12:00:18 +0000 https://www.stuffinpost.com/?p=6663 Are you looking for a way to get started in trading? If so, the Immediate

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Are you looking for a way to get started in trading? If so, the Immediate Edge app is the perfect solution for you! Our software was designed to be easy to use, even if you have no experience in trading. We understand that getting started can be difficult, so we made our app as user-friendly as possible. With our help, you can make your trades easier and smoother than ever before!

1. What is the Immediate Edge App and what are its main goals?

The Immediate Edge app is the official trading software from Immediate Edge. Our main goal is to make your trading experience easier and smoother by providing a platform that is easy to understand and use. We want to help you get started in trading, no matter your level of experience, so we designed our app with beginners in mind!

2. How easy is it to use the Immediate Edge App, even if you have no experience in trading?

Using the Immediate Edge App is very easy, even if you have no experience in trading. Our software was designed with user-friendliness in mind, so we made sure that it would be simple and straightforward for anyone to use. We also offer tutorials and other resources to help you get started quickly and easily.

3. What are some of the benefits of using the Immediate Edge App for trading purposes?

There are many benefits to using the Immediate Edge App for trading purposes. Our software is designed to be faster and more efficient than other trading platforms, which means you can make your trades quickly and easily. We also offer a variety of features such as real-time updates on market prices, notifications about new opportunities, and an easy-to-use trading interface. All of these features are designed to make your trading experience smoother and more profitable.

4. How can the Immediate Edge App help you make your trades easier and smoother than ever before?

The Immediate Edge App is designed to make your trades easier and smoother than ever before. Our software features an easy-to-use trading interface that makes it simple to place orders, manage portfolios, and even track market prices in real time. We also offer a variety of features such as price alerts and notifications about new opportunities, which can help you stay ahead of the game. With our help, you can make your trades even easier and smoother than ever before!

5. What types of support are offered with the Immediate Edge App?

At https://immediatesedge.de/, we offer a variety of support options for our users. We provide tutorials and other resources to help you get started quickly and easily, as well as a live chat support system to answer any questions you may have. In addition, our customer service team is always available to help you with any issues you may have while using the Immediate Edge App. With our help, you can make sure that your trading experience is as smooth and successful as possible!

Also Read : Microsoft Is Still The Leader In Big Data Analytics Thanks To Power BI

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