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Cloud Accounting for Small Business: Why It Matters?

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Cloud Accounting for Small Business: Why It Matters?

Business accounting plays an essential role in determining the performance and success of a business. In addition, streamlined accounting operations can help manage cash flow and make the right financial decisions. This is why small companies invest in the right tools and resources to manage their accounting processes.

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Accounting management was done manually in the past, with every minute detail and task written on paper. However, the traditional accounting systems did not last long with the technological revolution and have lost their value to advanced accounting software. As a result, various accounting software is available to simplify accounting management for small businesses.

While you might have heard people using different accounting applications for businesses, not everyone knows about cloud accounting. Here, we will help you understand the concept of cloud accounting in detail.

What is Cloud Accounting?

Cloud accounting refers to installing or hosting your preferred accounting software on a cloud server. Traditionally, this software requires on-premise installation after purchasing its license. But with cloud accounting, the software is hosted on dedicated servers managed and maintained by the chosen cloud solution provider.

One of the striking characteristics of cloud-hosted accounting software is that its software does not change at all. Whether accounts payable, accounts receivable, or ledgers, you can use all the software features from any compatible Internet-connected device. Here, the accounting software does not need local set-up installation and allows users to perform various tasks remotely.

Why Do Small Businesses Switch to Cloud Accounting?

Per statistics, the global accounting software market, which was valued at US$ 11,071 million in 2018, is expected to reach US$ 20,408 million by 2026. On the other hand, the global cloud computing market is projected to grow towards the mark of US$947 billion by 2026.

As you can see here, the numbers also showcase the growing reliance of small businesses using accounting software on cloud technology. Over the years, most SMBs have been turning towards cloud-based accounting software to achieve higher productivity and profitability. If you want to know what makes cloud accounting suitable for your business, read the following detailed reasons:

Remote software accessibility

In a traditional local-hosted environment, users need to stay within the office premise to use the accounting software installed in a computer system. Therefore, it limits software access, mainly when the users are away from the office. Cloud accounting addresses this need significantly by allowing you to work on accounting tasks remotely.

Considering the global pandemic situation, hosting accounting software on the cloud has helped many SMBs stay in business. As a result, they could not only manage the accounting operations while working from home but have also sustained their business for the foreseeable future.

Top-rated data security

Like most small business owners, you would only think of installing antivirus software on your computer to save data and protect the system. But in the case of unfortunate incidents like cyber-attacks, the chances are that you lose business-related data because of security flaws in the system. A cloud service provider like Verito Inc. can act as a savior in hard times.

By having your accounting software hosted on their servers, you can rest assured that the data will be safe and protected under uneven circumstances. In addition, they deploy multiple security measures, including firewalls, two-factor authentication, and intrusion detection systems, to name a few, to ensure 360-degree protection.

Cost savings

If you have invested money in setting up a local IT infrastructure for your SMB, you might have a good idea of the amount needed to scale it further. The bigger your team and the more clients you handle, the more storage space you need to keep the data. Besides this, there are overhead costs associated with hiring maintenance personnel.

Cloud accounting can help you save a considerable amount as the hosting plans are available per user/per month basis. You can select the plan that best suits your business needs without worrying about local IT setup or maintenance. You can choose from cloud solutions for solo practitioners, small teams, and large teams.

Centralized team collaboration

Cloud accounting is meant for you if you want to get rid of the to-and-fro sharing of the same accounting data files over emails. Consider this example to understand how it works –

You want the team members to work on different aspects of the same accounting file for a client. The traditional method involves passing the same file from one team member to another, each revising until the task is completed. However, with cloud accounting, all your team members can work on the same file simultaneously. Therefore, you do not need to send the data file to different team members individually.

The bottom line

As detailed above, the cloud-based approach to the accounting needs of an SMB can considerably reduce operational costs and challenges. Remote accessibility, cost savings, and data backup are vital benefits that make small businesses switch to cloud accounting. You can do that too by joining hands with a trusted cloud solution provider.

 

How to Target a New Business Demographic

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How to Target a New Business Demographic

Reaching out to a new business demographic can be exciting and also nerve wracking. What if you pick the wrong demographic? What if your marketing efforts don’t connect with them? What if you accidentally forget your current customers? But things don’t have to be this way. If you play your cards right, going after a new business demographic can be a huge win for your business. Here are nine tips to help you go after new customer bases:

By Prostock-studio / Shutterstock.com

Evaluate your current customers.

Before choosing a new demographic to pursue, you want to look at your existing demographics in order to identify potential gaps. Pull out your customer data and see how it matches up against your potential markets. For instance, maybe your branded merchandise theoretically appeals to women 18 to 49 years old, but most of your current customers are in the 25 to 35 year old range. That means that you have opportunities to appeal to both younger and older consumers than those currently buying your product. Looking at your current customer data will help you identify these opportunities.

Look at your competition.

Your competition can give you inspiration for new demographics to pursue — and help you preemptively determine if competition over a particular demographic is already too stiff to make it worth your while. Do some good old competitor analysis to see what demographics your fellow companies are going after and how successfully they have been able to capture these demographics. You might find that some of your competitors are doing a bad job of wooing certain demographics, giving you the perfect opportunity to swoop in.

Identify some potential demographics.

After you’ve evaluated your current customers and your competition, it’s time to start identifying some new customer demographics that you would potentially like to appeal to. Some factors that you’ll want to consider include age, gender, geographical location, income, education level, occupation, hobbies, and marital status. Make sure that your potential demographics are distinct from each other; if you notice a lot of overlapping characteristics, you might need to merge those two categories.

Business Demographic

Do research and collect data.

Now it’s time to delve deep into the data on your potential demographics. Really crunch the numbers to determine which one aligns with your current brand personality and has a lot of potential for growth. Remember that you are going to be asking for a lot of money behind your push for a new customer demographic, so you will need rock-solid numbers to back up your proposal. In many cases, the analytics will make it clear which customer demographic you should pursue next.

Build their customer persona.

At this point, you are ready to choose which customer demographic you will pursue and start building their buyer personas. (If you have a couple demographics that are neck and neck and really seem to both have a lot of potential, you can choose to pursue both of them at once if you have the budget to do so.) Your buyer persona(s) should be far more in-depth than just the bare bones of their defining characteristics. Really delve deep into their psyches and figure out what would make them buy your product or service specifically.

Set aside a marketing budget.

Like we alluded to earlier, going after a new customer demographic takes money — and the further this new demographic is from your current ones, the more spend it is likely to take. If you haven’t already, allocate a significant chunk of your marketing budget to promoting your product or service to this new demographic via social media ads, paid partnerships with content creators, corporate gifts for clients, and more. This money should be separate from the budget that you use to target your current customers; they still need to be marketed to as well, after all!

Business Demographic

Craft separate promotional campaigns.

Speaking of your current customers, you don’t want to lose ground with established markets while you go after new ones. You also don’t want to lower your chances of success with the new customers because you re-used marketing materials that weren’t specifically designed for them. Thus, you should design promotional campaigns that are tailored to each separate demographic so that you can increase your chances of making the sale and winning over a new customer.

Explore new channels.

The same marketing channels that you used to reach your existing customers might not cut it for the new-buyer personas that you’re trying to reach. And even if your new target customers do frequent the same channels, they might be looking for totally different content. Don’t be afraid to explore new marketing channels that you’re not already using, such as TikTok or promotional products, or to use your current channels in a totally new way that allows you to connect directly with the customers you are trying to win over.

Don’t forget about your existing customers.

Going after a new customer demographic can be all-consuming, and it’s easy to let your existing customer demographics fall by the wayside. Unfortunately, this creates a prime situation for your competitors to come in and chip away at the demographics where you used to have a strong presence. That’s why it’s imperative to keep marketing to your current demographics even while you’re going full steam ahead on your new buyer personas. If you don’t, you could lose all the ground you fought so hard to gain with your existing customers, and you might basically break even on sales (or even fall behind).

Have you had success going after new business demographics? Do you have expert advice to share or mistakes that you wish you hadn’t made? Drop them in the comments below so we can all learn from each other!

What is System Testing in Software Testing?

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What is System Testing in Software Testing?

What is System testing?

System testing means testing a system as a whole. It is a type of black-box testing where the external working of the software is analyzed using the required documents and it is entirely based on the user’s point of view. It checks the behavior of a fully integrated software that is based on business specified requirements. This type of testing doesn’t need knowledge of code, structure, or internal design. In other words, we can say that all components/elements are integrated to demonstrate if the system works as desired or not.

After Integration testing, software testing companies perform System Testing as it plays an important role in delivering a high-quality product. The main reason behind performing integration testing is that it helps to determine the dis-similarities between the components that are connected and determines the errors both in individual parts as well as the entire system. Software testing is crucial for every software as it discovers defects before the product is delivered to the client and guarantees the quality of the software. It also ensures reliable and high-performance software operation, so make sure you have hired a good software testing company for this job.

System testing is necessary as the majority of testing tasks are performed in this phase. Not only this, but it scrutinizes the whole software system, reliability, functionalities, and other features based on Functional Requirement Specification. It is a set of various tests whose aim is to exercise the entire computer-based system.

Importance of System testing

  1. a) When it comes to software development life cycle System Testing is performed at an initial stage where the entire system is tested.
  2. b) After the first step, it checks whether the system meets all the functional requirements or not.
  3. c) With system testing, you can validate and test the application architecture and business requirements.
  4. d) It is tested in such an environment that resembles the effective production environment where the system will be deployed lastly.

If you’re not aware, then let me tell you that a dedicated team is responsible for system testing performed on a staging server that is the same as the production server. This represents that you are testing systems as good as the production environment.

After discussing the importance of system testing, let us now list out the types of system testing. You’ll find numerous system testing types but we have only listed several types of system testing that a large software development company would use.

Types of System test

Like any software testing system, System tests are also a set of various types of testing that allow developers to validate the overall functionality and performance of the product. Different testing types concentrate on distinct factors of the product and fulfill the requirements of the user. These types of system testing include:

  1. Usability Testing: Usability testing allows you to evaluate a system or service that mainly focuses on the user’s ease of using the product. It checks the ability of the system to achieve its major objectives and has the flexibility in handling controls. It simply means that while the tests are going on, participants will try to complete the most common task while observers watch, listen, and take notes.
  2. Regression Testing: Regression testing is a type of software testing that makes sure to verify any update or modification in software without affecting the other functionality of the product that is made throughout the development process. Basically, it is performed when there is a code modification in a system.
  3. Performance Testing: As the name suggests, performance testing helps to examine the scalability, response, reliability, and other software quality factors, under various workloads. It helps to evaluate how a system performs under a particular workload and also analyze the speed, robustness, and size of the application.
  4. Acceptance Testing: Acceptance testing is a type of testing done by customers or users to determine software requirements and business processes in the last stage of software testing and before making the system available for actual use. This testing phase is important to perform as it decides whether the client approves the product or not, if not then it might not be working correctly that is expected by the user.
  5. Load Testing: Load Testing is a type of software testing that simulates a real-world load on any website or product to study its behavior. It is important in the software development lifecycle as it evaluates how the application performance can be affected by peak and normal loads and helps save money by identifying errors and bottlenecks at an initial stage.
  6. Security Testing: Security testing is a type of software testing that evaluates the security features such as authenticity, integrity, protection, and guarantee of data and information of the software. It discovers vulnerabilities of the system as the resources of the system are protected to keep them away from hackers. It makes sure that the system is prevented from hackers and kept secure to prevent data loss.
  7. Migration Testing: Migration Testing is a type of software testing which ensures that the software moves from older system infrastructure to existing system infrastructure with minimal downtime, no data loss, and data integrity. It also makes sure that all the established functional and non-functional elements of the product are met post-migration.

What are the primary objectives of system testing?

Here are the primary objectives of system testing that includes:

  • The main aim of System testing is to build confidence in the system quality as a whole.
  • System testing verifies whether the system design of the functional and non-functional behaviors is according to the customers’ specifications or not.
  • As we all know, the results of System Testing are then utilized by stakeholders to make better release decisions.
  • System testing checks whether the system is complete and working as per expectations or not.
  • System testing ensures that there are no defects or bottlenecks at this stage so that the information is kept secure.
  • System testing helps you to reduce risk by eliminating that the system will function as per the customer’s requirements.

Wrapping Up

Let’s conclude the software testing topic here. After reading this post, now you might be aware of how important software testing is and why it becomes essential to know the goal. The system testing performance takes place after the completion of software development. It is performed after the product has passed through the unit and integration testing stages as it is a crucial part of the software testing life cycle.

The main reason for conducting the system testing is to check the system and validate that the system is working as per customers’ requirements. The main advantage of this type of software testing is that it tests a single feature of the application and the entire product even when you’re still implementing the features. Hence, you must perform system testing to deliver a flawless user experience to your user.

We hope you find this helpful. It would be great for us if you share this post on Facebook or Twitter to reach more audiences. Feel free to approach us in the comment section given below and ask your queries. We will get back to you soon.

Thank you!

How to Solve the “This Site Can’t Be Reached” Error on your Chrome Browser?

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How to Solve the “This Site Can’t Be Reached” Error on your Chrome Browser?

Chrome Browser – Almost everyone uses Google as it is one of the most popular search engines. Some use it on their mobile, laptop, or PC, and some use it on their TV. 

The reason behind this popularity is pretty simple. Google provides simple and better results in approximately no time. Nowadays, people don’t even think about choosing a search engine. They Google it. 

However, sometimes there can be an error, even on Google. And today, I will assist you in solving the This Site Can’t Be Reached error.

What Does this Error mean Exactly?

This error tells you that you can not access the website address you are trying. It can be possible because of a spelling mistake or an underlying issue with your DNS server. 

 Most common reasons for getting this error

1) Your Google Chrome browser’s cookies are corrupted,

2) The browser’s settings are out-of-date,

3) Your wireless network connection either requires repair or the adapters are out of date,

4) Your Domain Name System (DNS) cache is invalid, 

4) Your antivirus is blocking the website you are trying to reach,

5) The website you are trying to reach is banned for your IP address.

How to Fix the “This Site Can’t Be Reached Error” on Windows?

1) The website you are searching for can be down for everyone. It can be down because of scheduled maintenance, traffic overload, or unexpected server failure. If it is down for everyone, there is nothing you can do except waiting. 

You can check the availability of a website with free online tools such as WebsitePlanet. If the website is down for only you, move on to the next solution. 

2) Clear your Browser Cache and Cookies

If the problem is because of corrupted cookie files, it is the best method to use. To do this, please follow the given path below, and perform the steps:

Open your Chrome Browser->click on the three dots in the top right corner-> click on More Tools->then click on Clear Browsing Data. 

Once you have done this, try to reload the webpage to see if the issue has cleared up.

3) Try running the built-in Windows Network Troubleshooter

To do this, 

  1. a) Type run in the search bar and open the run program module,
  2. b) Enter cpl to open the network connections box,
  3. c) Find your active internet connection, which should be in the network connections window. Right-click it, and choose the Diagnose
  4. d) If the problem is something related to DHCP, try repairing it as an administrator,
  5. e) Reboot your device to see if the issue is gone.

4) Reset your Internet by restarting Router And Modem

To do this, 

  1. a) Unplug the power cables from both the router and the modem,
  2. b) Now, wait for 2-3 minutes before plugging the power cables back,
  3. c) Let your modem and router boot up before visiting your target website again.

5) Try disabling your firewall/antivirus or use a VPN

The steps to disabling your antivirus may vary as per your software. You can do it by following the respective guide or manual.

Free VPNs are another alternative. There are a lot of free VPNs available for different devices like windows, android, or even firesticks. You can install them from the play store or install their APKs. 

There are also a lot of free and reliable VPNs available for Firestick. You can install and set up these VPNs easily. But it’s not easy to decide which free VPN is reliable? So make your choice carefully after reading their features and policies.

6) Reset Google Chrome

If the error is because of a browser settings issue, this step can solve the error for you. Follow the given path for resetting Chrome:

Open up your Chrome browser-> Click on the three dots in the top right-hand corner->Choose the settings option-> go to the advanced tab-> and find the reset and clean up section.

Pick the option to restore your settings to their defaults, and hit Reset settings.

7) Reinstall Google Chrome

If nothing has worked in your favor, then I am afraid that this might be the last step. To reinstall it, 

Open Control Panel-> Click on Programs And Features->Find Google Chrome->and then Uninstall it.

Now, open another browser on your computer and install Google Chrome again.

Conclusion

I hope that by this point, you have managed to fix the “This site can’t be reached error”. If you still haven’t found any solution, try all other available fixes present on the Internet. Hopefully, you will find the ideal solution for your error.

5 Benefits of Employee Training

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5 Benefits of Employee Training

If you own a business, you know that finding the right candidate for a position, interviewing them, and guiding them through the onboarding process is a lot of work. Because of this, it is important for companies to have things in place to retain the employees that they hire and avoid having to go through the hiring process more than is needed. One of these things is continuously training and educating employees. Here are five of the many benefits of employee training.

Employee Retention

Workers who feel confident in their roles are more likely to be happy and stay with their current company. One way to make workers feel confident is to offer them training that is relevant to their field. This can be done via in-house training sessions, free college courses online, or job shadowing within the company. Training promotes employee engagement showing them that the company values them, so well-trained employees are more motivated and feel more satisfied with their jobs overall.

Ability To Hire Within

If an employee stays with a company long enough and receives the proper training, they usually become a good candidate for an internal promotion. Hiring within the company saves a lot of time compared to hiring outside the company since you already know the person you are hiring and are aware of their skills, abilities, and limitations. In addition, it is good to have leaders and higher-ups in the business who are already familiar with the business and its culture. You know best what kinds of leaders you need your corporation to have, so strive to have employee training reflect these goals and values.

Relationship Fostering

Having sessions where employees work together to learn a new skill or process can help co-workers bond with each other, especially if the training sessions are done with groups who do not ordinarily work together. This is important for the workplace because employees who know and get along with each other are more likely to work more efficiently together. Healthy employee relationships also increase engagement and collaboration in the business.

A More Knowledgable Workforce

Most companies use software to complete the tasks they need to do to keep the company running. Because technology is constantly changing and evolving, it is important to train workers regularly so that they stay up to date and efficient. Rules and regulations regarding best practices in various fields are also continuously being updated, so make sure to train your employees on these topics as well. Employees who do not regularly use software or specialized technologies can still benefit from customer service training or training about the company’s products and services.

Increased Productivity

By having dedicated training sessions, you reduce the need for employees to ask questions throughout the workday. While asking questions should be encouraged, training empowers employees to first try to find a solution themselves. Well-trained employees are also more productive because they are familiar with the process they are doing.

If you own a company, consider these benefits of regular employee training.

Important Skills That Every Healthcare Worker Should Have

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Important Skills That Every Healthcare Worker Should Have

Healthcare is one of the most rewarding industries to work in. As a healthcare worker, you play a key role in improving the lives of hundreds of people every year, and without your hard work, many adults and children would struggle to live happy and healthy lives.

In home health care sector is vast and there are thousands of different roles within the industry. Depending on your qualifications, preferences, and skillset, there might be a specific role perfectly suited to you.

Each specific role within healthcare is important in and of itself. From doctors and nurses to dietitians and counselors, every member of the multidisciplinary team must work closely together to ensure that every patient gets the best care possible.

Depending on the specific role that you take within healthcare, you might need a certain skill set. For example, a patient-facing role (such as a doctor or nurse) will require different skills and qualities than a non-patient-facing role (such as a medical secretary or cleaner).

However, there is a range of skills that every healthcare worker should have, no matter who they work with or where they work. Even those who don’t necessarily come into contact with patients directly must still possess interpersonal skills and caring qualities. Those who regularly interact with patients will still need to possess admin and clerical skills to provide the best patient care.

Let’s run through some of the key skills and qualities that every healthcare worker must have in order to succeed within their roles. If you are considering entering the healthcare industry, this list should help you to determine whether healthcare work is the career for you.

Great Communication Skills

Communication is a vital skill for most jobs. However, it’s particularly important in healthcare, especially for those who are interacting with patients on a daily basis.

Even for those who work on the admin side of things, great communication is still required. Administration and clerical staff must communicate with their team members, managers, and other members of the multidisciplinary team.

Some Administration staff will interact with patients over the phone or via email. For example, medical secretaries must arrange appointments with patients and answer incoming inquiries. They will also need to communicate regularly with the consultants and specialist nurses within their department.

Healthcare is not just about treating patients. It’s also about interacting with them on a human-to-human level and building a strong connection with them as healthcare workers. The stronger the connection, the better the patient outcomes.

For healthcare workers that are in a patient-facing role, strong communication skills help to build a trusting relationship. You must be able able to inform patients of their treatment plans in a clear and concise manner while also helping the patient to feel comfortable.

For example, if you have a patient who has recently been fitted with a hearing aid and they are feeling distressed and worried about using the device, you must be able to clearly explain the benefits of hearing aids. You must be able to show them how to properly use the device and fit it comfortably onto their ear.

If you are a nurse working in a diabetes clinic, you must be able to communicate the key information about the condition to your patience. Part of your role will be providing advice on how your diabetic patients can live a healthy lifestyle and manage their chronic conditions.

When you have great communication skills, your patients are more likely to take your advice on board. It’s a key skill that can significantly improve your patient care and satisfaction.

Tech Savvy

Technology has infiltrated the healthcare industry over the last few decades so much so that, if you want to work in healthcare nowadays, you must be tech savvy. You will be using technology every day during your shift, whether you work in the hospital or in a community-based role, such as providing in home health care to patients.

Patient notes and medical records are now stored digitally. If you need to take a patient’s vital signs, you will most likely use a machine to do so. When you are scanning or testing patients for disease markers, there will be a range of tools and equipment that you will use to help you make accurate diagnoses.

Various gadgets help doctors to work more efficiently during clinics and admin staff use sophisticated software to keep track of patient’s details and appointments. No matter which role you take on within the healthcare sector, you will need to scrub up on your tech skills!

Amazing Teamwork Skills

There are very few roles in healthcare that don’t require you to work within a larger team. Whether you’re working on a hospital ward, in a community-based role, or in an office, you will need to have great teamwork skills to provide the best patient care and make sure everything runs smoothly.

A higher functioning team can improve patient outcomes and patient satisfaction. By cooperating with every team member and being willing to help your colleagues in every way possible, you can keep your patients as happy and healthy as possible.

Ability to Manage Stress

As rewarding as working in healthcare can be, it’s also a very stressful industry. With an increasing number of patients needing medical help, extra responsibility is being placed on the shoulders of every healthcare worker.

When you’re working in a patient-facing role, other people’s lives are in your hands and this puts you under a lot of pressure. If you don’t have effective stress management skills, you could end up getting stressed, overwhelmed, and burnt out.

Burnout is closely associated with poor physical and mental health. If you are chronically stressed, you are at an increased risk of developing a chronic medical health condition. You will also get demotivated at work and may lose interest in your passions outside of the workplace.

To avoid burn out and ill health, you must know how to manage your stress and, instead, use it to thrive within your role.

How Cloud Storage Can Increase Your Company Diversity

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How Cloud Storage Can Increase Your Company Diversity

The cloud is a term more of us are becoming more familiar with. It is a modern way of storing data and applications safely and securely. The cloud can be a perfect solution for companies looking to modernise the way they work and utilise the variety of benefits that the cloud can bring – one of those being accessibility. Choosing cloud managed services means you can access data wherever you are and focus on making collaboration in the workplace easier than ever.

What is cloud storage? 

Cloud storage is a way of accessing data, documents, and apps from wherever you are. When data is stored on the cloud, it is stored on a secure remote server, which can then be accessed by employees. It can be hosted by a server outside of a business or can be used within an organisation as ‘as-a-Service’. Many businesses are choosing cloud storage because of the benefits that come with it, such as the ability to work remotely, scalability and flexibility, as well as enhanced security options. When it comes to increasing diversity within your company, cloud computing can help you do this. Let’s look at some of the ways it can help below.

Working remotely 

Cloud storage can help increase diversity within the workplace, as it allows employees to work from wherever they are in the world. This platform allows employees to have access to data and documents without having access to on-premises infrastructure – which means companies no longer must narrow their search for the best-fit employees. Businesses can expand their search to find the employee that would be perfect for their role, regardless of where they’re based. Cloud storage makes it easy for businesses to hire workers from all over the globe.

Collaboration 

Cloud storage allows for improved collaboration. Not only does it allow documents to be accessed, but it also allows them to be shared with ease. An employee thousands of miles away can share and work on ideas with workers in other countries. Gone are the days of printing documents and reviewing them in the office – cloud storage allows for faster and more efficient collaboration between a diverse workforce.

When you’re collaborating overseas with the help of a cloud provider, it is important that you have all of the security measures you need in place to ensure safe sharing. Depending on the provider you choose, the cloud has all the added security tools you need to collaborate safely and securely – if you choose a managed approach, updates and patching will take place frequently for an even stronger security solution.

Workforce expansion 

This modern storage solution gives businesses the opportunity to grow and expand. Investing in cloud migration means that your business can operate on a global scale. Because of this new and modern way of working, you can have a workforce working together in different countries, you can expand your reach to clients and customers – and most importantly, spread the word about your business.

Without cloud storage, global growth would be more difficult, and it’s likely that you would have to spend money on implementing staff and offices in other countries – but cloud storage allows you to manage growth with ease, whether that’s with recruiting new employees or growth inline with your business goals.

Crypto Trading Bots – Are They Useful?

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Crypto Trading Bots – Are They Useful?

Crypto Trading Bots – Are They Useful?

https://cdn.pixabay.com/photo/2021/08/08/15/06/stock-market-6531146_960_720.jpg

In today’s digital world, the cryptocurrency market has become a popular subject for investors. Moreover, many people are trying to figure out how to earn money by investing in these markets. However, it is not easy for beginners who do not understand the industry well and have little experience with trading.

To survive in this competitive environment, you need a reliable tool to help you make decisions when you purchase cryptocurrency and manage your portfolio. That’s why crypto trading bots may be useful. They provide an automated solution for making financial decisions based on market data and trends. 

In this article, we will explain what they are, how they work, where they come from, and how much money can get earned using them. 

Why Are Crypto Trading Bots Useful?

They allow you to run a trading strategy 24/7. Crypto trading bots can get programmed to execute trades automatically. It allows you to trade 24 hours a day, 7 days a week.

They allow you to automate your trading activity. Or else, you will have to feed information to sell or buy cryptocurrency. These can help you trade multiple coins at once. You might have noticed that exchanges often limit the number of markets available for each cryptocurrency pair (e.g., BTCUSD). 

Cryptocurrency bot developers have created software that allows users to trade multiple coins simultaneously on these exchanges. They access several accounts at once through one account interface and trade different pairs in each account (e.g., BTCETHXRP). 

It is possible because most exchanges don’t require users who sign up for their services through an intermediary like OKX, Coinbase, or Binance. These do not require ID verification when opening additional accounts with them. Simply entering an email address is enough! 

Many crypto bots offer this functionality as an additional feature in addition to standard features such as backtesting historical data sets against live market conditions, etc.

Crypto Trading Bot Features

As the name suggests, a crypto trading bot is a piece of software that automates trading on your behalf. If you’re not familiar with what automated trading means, it’s essentially a way to use algorithms and computer programs to trade for you instead of having to do it yourself.

Several features can help make bot trading easier:

Backtesting allows users to test out their strategies on historical data before risking real money in the market. This helps traders determine if their strategy works well or not before they put any actual funds into it.

Paper trading is another feature that lets users test out their strategies without risking any money at all (other than purchasing virtual coins). It also serves as an excellent way for beginners to get comfortable with using bots before they start using them in real life.

Technical analysis gives users access to charts, graphs, and other information regarding cryptocurrency prices. They can decide when would be an appropriate time for them to make trades. These are basis these factors alone rather than relying only on personal experience or intuition as some people do.

How Does the Crypto Trading Bot Work?

Crypto trading bots are a form of algorithmic trading that uses machine learning and artificial intelligence to predict price movements.

These bots can read data from the market, analyze it and then buy/sell based on their prediction. For them to work, they have to get programmed with a strategy that is basis the historical data analysis which tells them when to buy/sell and how much.

They also need large amounts of capital to make any significant gains since they don’t rely on human intuition or emotions when making trades. They rather rely solely on mathematical models that are hardcoded into the bot software code itself.

Cryptocurrency Trading Bots – 5 Best Bots

You’re interested in trading cryptocurrencies. However, you don’t have the time or patience to sit at your computer all day waiting for the right moment to buy or sell. You can use a cryptocurrency trading bot may be for you.

Here are five of the best bots currently on offer:

  • Gekko
  • Zignaly
  • Cryptohopper
  • Haasbot
  • Cryptotrader

Cryptohopper

Cryptohopper is a software-as-a-service (SaaS) cryptocurrency trading bot that can get used to trading crypto assets. It works by connecting to several exchanges, including Binance, Bittrex, and Poloniex. 

The user selects the coins they want to buy or sell and the price they are willing to pay. Then Cryptohopper waits until the price reaches this level and executes the trade automatically.

Gekko

Gekko is an open-source trading bot, which means you can access and modify its code. As a result, Gekko supports all major exchanges, and you can use it to trade on them using technical analysis tools like moving averages.

Gekko has a backtesting feature that lets you simulate trading strategies over historical data before trying them out with real money in the real world. It also supports plugins so that users can add their functionality to the platform.

You’ll need to install Gekko on your local machine. There are no cloud-based versions of this software available at present (though there are plans for one). At the same time, this makes it somewhat less convenient than other options on this list. It also ensures complete control over how all data get handled. Thus, security from any potential breaches caused by third parties accessing your information.

Cryptotrader

Cryptotrader is a cloud-based solution that allows you to create your trading bot and backtest it. You can also use their existing strategies or buy someone else’s, but it’s important to remember that these bots have had somebody write them who knows nothing about cryptocurrency.

You’ll need an account with Cryptotrader before you can get started. It means you’ll need some BTC or ETH if you want to test out the demo version of their software (you’ll also need some fiat currency for the real thing). 

Conclusion

The term crypto trading bot refers to a piece of software that can execute trades based on set criteria. In other words, it allows you to automate your buying and selling activity.

A great example of this is like having an assistant who takes care of all your financial transactions for you 24/7. It is so because some people don’t have time for that thing themselves! You can choose any of the numerous options that provide you to buy crypto with a credit card or convert cryptocurrency (fiat). So choose wisely!

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