Financial planning to help with your Investment funds

A big part of your financial planning is to learn how to invest right. Without a proper plan, one may reach a point where investments no longer yield the expected results. At times the amount of information available regarding various investment opportunities can turn into a challenge in itself. Understanding and choosing the right investment can indeed be tricky.

Newcomers especially may find the overload of information quite tough to comprehend. Certain challenges that all budding investors go through are :

  • The uncertain market
  • Understanding the risk factor
  • Choosing the right option

Having an application or a tool that can help with these challenges and guide an individual regarding his/her financial choices can be quite handy especially at the beginning. Mutual funds should be selected by you based on your plans, be it short-term or long-term in nature. Today you have investment-based apps that help you select the best options concerning your financial goals.

SIP is the smart mutual fund tool preferred by a lot of individuals nowadays. Essentially, it is a mode of investing where you fund a small portion in regular intervals. In this way, there is less fear of risks since a huge sum of money is not invested in the beginning. One can start a SIP investment where he/she invests a small portion of their income in regular intervals which helps provide accountability and also adds financial discipline.

The volatility of the market can be taken into consideration while choosing a SIP. If the market seems shaky, one can fund a small amount and if the market is seeing a promising trend, a larger amount can be invested to take advantage of the situation. A SIP investment helps beginners to navigate their way through a long-term investment plan. This is something that normal lump sum investment funds cannot provide.

Choices may overwhelm an individual. A variety of funds are available in the market to invest in, thus picking out viable options that have the potential to provide monetary gains is challenging indeed. A proper financial plan can help in this process. Deciding whether the investment needs to be short-term or long-term is a good place to start. Analyzing the risk factor and then deciding the portion of the money to invest in the next challenge. These challenges can be made easy with a good financial planning app to mentor an investor during such decisions.

SIP investment is one of the many avenues one can invest in today. Investing is a process that has its hurdles and thus no one should get into it without a sound financial plan. Investment funds are available in plenty and planning every step of the investment is mandatory to reduce the risk of the uncertain patterns of the market. When it comes to mutual funds for beginners, SIPs are one of the ways to get started.

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Payback Ltd Review – Recover Your Stolen Funds From Scammers

Payback Ltd Review

Today, we are going to discuss Payback Ltd, a world-renowned money recovery firm that specializes in dealing with scams that occur in the realm of online trading. It is true that we are in the midst of a new era of digitalization in essentially all aspects of our society. Whether it be through our culture, education, economy, or overall financial infrastructure, everything is becoming increasingly digitalized, and while this can often prove to be beneficial, it does also open the doors for scammers, hackers, and several other individuals interested in partaking in fraudulent activities. This Payback Ltd review will thus inform you about the no-nonsense approach that has been taken by the company in a continuous attempt to ward off scammers and help traders recover lost funds.

Recovery services

Let us look at some of the recovery options that the company provides. Firstly, there are four different recovery services that are provided by Payback Ltd, namely the ‘Binary Options’ aspect, the ‘Cryptocurrency’ aspect, the ‘Forex’ option, and lastly, the ‘Stock Trading’ option.

The process of recovery for all of these options remains the same, however, which is that Payback Ltd will review your case to begin with, which means performing several preliminary checks and verifications to accurately assess and ascertain as to whether the case is even winnable. Next, the company will start collecting all of the relevant evidence, which includes any documentation and information which could strengthen the case. Following that, there will be a confrontation with the entities, which means that Payback Ltd will systematically confront every entity which may have been involved in facilitating the unlawful fund transfer. Finally, the last step includes getting the money back, assuming that the case is strong enough and that you are within your rights to receive the recovery of your lost funds.


When it comes to something as sensitive as recovering lost or stolen funds, transparency is key. As such, Payback Ltd is extremely forthcoming regarding what kind of services are being provided by it as well as how the process actually works.

All of the steps have been outlined in detail, and what we especially liked was that the company does not make any false promises or guarantees that it might not be able to deliver on. Payback Ltd is completely honest about everything, particularly regarding situations where it might not be possible to recover your funds.

Customer support

According to numerous testimonials that can be read or watched on Payback Ltd’s website, it is clear to see that the majority of people who enlisted the company’s recovery services were happy with how seamless and smooth the process was. Moreover, the customer support is fantastic and fast-acting, which means that should you ever want to ask any questions or if there is a particular aspect about your case that you may be unsure about, the customer support team will be ready to help you.

You can contact the team by filling out a form on the ‘Contact Us’ tab on the website, which will require you to enter your first and last names, your mobile number (specific to your country of residence), your email address, and a general outline of your case. Once the form is filled out, you can receive a consultation about your case, completely free of charge.

Additionally, there are some direct call options and another email address through which you can contact the team.

  • FAQ

Payback Ltd realizes that it might not always be possible to answer all of the questions that its clients may have straight away, especially when countless cases are being looked at 24/7. This is why a useful FAQ section has been created on the site, through which you will find answers to most of the frequently asked questions and usual concerns regarding how things work, as well as some general information that you may find useful.

  • Blog

Payback Ltd doesn’t just offer recovery services. It also has its own blog, which features numerous informative and comprehensive articles about a variety of topics.

You can find featured articles about forex trading, stocks, cryptocurrencies, binary trading, and various general scams. All articles are thoroughly checked and verified beforehand, so you do not need to worry about being fed false, outdated, or incorrect information.


Ultimately, Payback Ltd is reliable, safe, and trustworthy, and the company is well and truly committed to helping all of its clients be able to recover lost funds. Its transparency and friendly customer support team make it a top choice should you ever need to get your money back after being scammed.

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SagaTrade Review – Top Reasons To Choose SagaTrade As Your Broker

SagaTrade Review

Have you decided to enter into financial markets? You want to maximize your profits, which a variety of criteria can determine. Your financial market knowledge and awareness and your abilities and strategies create a significant difference, as does the broker you choose. They give you the platform, trading conditions, and tools, so you can expect them to play an important role throughout your experience.

Therefore, you must choose one after much thought and consideration. You can read this SagaTrade review to learn more about the benefits of using this broker. Yes, knowing why a broker is worth applying with is vital because people don’t want to move platforms frequently.

Asset Index

The asset index of each broker is the first thing you should learn about them. What markets and instruments will you be able to trade? Why is this required? It’s significant because it impacts how much money you make at the end of the day.

Every trader will be satisfied with SagaTrade’s asset list because they will locate anything that matches their risk tolerance. They provide their clients with access to some of the world’s largest financial marketplaces, and you can get the best solutions from each.

Major and minor forex currency pairs, equities and indices, commodities, and a variety of cryptocurrencies are all available for trading. Traders can diversify their portfolios and earn a significant profit.

Access to the Most Important Markets

Millions of people worldwide trade in financial markets, but not all succeed in making the money they desire. One of the reasons is because of their instrument selection. Hardly all markets may provide the same degree of returns, so pick the ones that will help you achieve your objectives.

Every broker does not provide access to markets for your choosing, so keep that in mind when deciding where to sign up. SagaTrade is an ideal choice in this case because they provide clients with access to the majority of the world’s leading financial marketplaces.

Users can trade Instruments from some of the world’s most popular financial markets, including FX, equities, commodities, and cryptocurrencies.

SagaTrade has included the most profitable choice of each market, which might assist traders in locating the instruments they require. Everyone may diversify their portfolio that reduces risk, and increases profits.

Ability to Use Leading Platforms

The trading platform of a broker should be enough to persuade you to open an account with them. It is the feature that you use the most, and it must perform competently to make transactions fast and efficiently. However, not all broker is capable of meeting traders’ expectations, so you must exercise caution. Another area where SagaTrade stands out is that they offer their clients the opportunity to use the most outstanding trading solutions available.

You can trade using the MT4 and MT5 platforms, which are the gold standard for trading platforms and provide a smooth trading experience, including quick execution and one-click trading. SagaTrade also offers a WebTrader, which users don’t have to download in addition to these options. Mobile trading options are also available to assist trader’s trade while on the go.

Great Customer Support

Customer support is one of the essential aspects of a brokerage, and many traders often overlook it. It has a significant impact on your trading experience because you won’t trade if you don’t obtain the correct help when you need it.

You don’t like left hanging, and SagaTrade has made specific that its clients might not be in this situation. They’ve added top-notch customer service, such as live chat available 24 hours a day, seven days a week. By filling the online contact form on their website, you can schedule a callback.

Aside from all these alternatives, the broker has established a FAQ area on their website where you may obtain answers to frequently asked problems. In addition, there is a range of educational tools available to people who require assistance.

Final thoughts

With a simple registration process, flexible account options, and a variety of payment options, you’ll have many reasons to choose SagaTrade as your broker.

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How to Get Started with SIP Investment in 2021?

Systematic Investment Plans or SIP allow you to invest a pre-decided amount in mutual fund schemes periodically and benefit from the compounding effect. Once you decide the amount and the frequency of investing via SIP to the mutual fund company, the amount is automatically deducted from your bank account. All the top mutual funds in India offer investors the option to choose the lumpsum method of investing or go the SIP route, according to their financial position.

The SIP option encourages you to be a disciplined investor while offering exposure to rising as well as falling markets and benefiting through rupee cost averaging. But how to go about it? Let’s find out.

Steps in SIP Investment

Now that you have decided to invest via the SIP route and reap the benefits of rupee cost averaging and compounding, you need to identify the mutual fund scheme in which you wish to put your money in.  You will also need to check the formalities required to start your investment. Here are some steps to get started with SIP investments:

  1. Identify Your Financial Goals and Risk Appetite: Investing is done with a purpose. So, the first step is to identify what you wish to achieve and how much risk you can bear for the same. So, take stock of your financial positions, your assets, and liabilities and identify how much money you can spare every month or quarter for investment purposes.
  2. Choose a Mutual Fund Scheme: Once you are clear about the investment objectives you need to finalise a scheme that can help you achieve your goals. Compare the different options available and choose a scheme or schemes that offer you the right mix of debt and equity investments. You can even compare the performance of different mutual funds to identify the ones which can help you achieve your financial goals.
  3. Start the Investment Process: Once you finalise the mutual fund scheme, you need to decide the amount and the duration of investment. You can use an SIP calculator for the same. The calculator helps you analyse the probable returns on your investment of a specific amount for a specific period.
  4. Check the Terms and Conditions: The top mutual funds in India also offer the SIP option of investment but some of them even give you a flexible option wherein you can increase or decrease the SIP amount according to your cash flows. But the general duration of SIP investment is one year, 3 years and 5 years. Choose a term according to your investment goals.
  5. Choose the Online or Offline Options: You can make your SIP investments online as well as offline. This requires you to apply along with certain documents to complete the mandatory Know Your Customer or KYC process. You may also need to complete certain other formalities before starting the investment.
  6. Check Allocation of Units: The number of units allocated to you depends on the Net Asset Value of the units on the day of your SIP investment. And every time you invest, fresh units are added to your account, but the number of units may vary due to the change in the NAV.

Get ready for a new financial journey that inculcates discipline, prevents you from short-term volatility, and helps you achieve your financial goals.

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Everything You Should Know About No Claim Bonus in Car Insurance

You might notice that car insurance premiums increase with each passing year. This is due to the increase in third-party premiums for each passing year by the Insurance Regulatory and Development Authority of India (IRDAI). IRDAI essentially reviews the third-party claims made at the end of each period and the premiums are revised accordingly.

Although these third-party premiums keep on increasing, your effective premium can be kept in check, and in fact be reduced. Thanks to the No-Claim Bonus (NCB) facility. No-claim bonus is the facility where insurance companies offer a benefit for not making claims during a policy tenure. This benefit is passed on the policyholder, i.e. you by way of concession in car insurance renewal. The no-claim benefits range between 20% to 50% and are go on increasing with each consecutive claim-free policy years. Here are some handy tips about NCB that you should know. Let’s have a look –

NCB benefits belong to the policyholder and not the vehicle

NCB benefits are associated to the policyholder and not the vehicle. With this feature, it allows you to carry forward the NCB benefits irrespective to the car you use. Say, for instance, you buy a car insurance cover and do not make any claims for five consecutive years. At the fifth policy renewal you replace this car of yours with a new car. These NCB benefits can be transferred to your new car with 50% concession in own damage premium. However, the only limitation for transfer of NCB is among different policyholders except in the case of legal heirs where the original policyholder dies.

NCB benefits are limited to own-damage plans only

You must make a note that the no-claim benefits are applicable only to own-damage premiums i.e. no third-party plans can take advantage of NCB benefits. So, in order to have NCB concessions, you must have a comprehensive plan or an own-damage cover alongside third-party policy. So anytime you compute your no-claim benefits using a car insurance calculator, keep in mind that the percentage of no-claim bonus is based on the own-damage premium.

Raising claims for smaller amounts will in-turn lead to bigger losses

Making a claim is tempting even when your car suffers minor damages. But in fact, small claims need to be even more carefully analysed. At every claim, you need to mandatorily pay for the compulsory deductible in your policy. Over and above that, any voluntary deductible that you might have opted also forms part of out-of-pocket expenses. Other than that, you also will be required to pay a higher premium in the future in case you raise a claim. So, considering these factors, make a cost-benefit analysis before you make a claim.

Transfer of NCB

Transferring your NCB benefits is a fairly simple process. It required you to submit Form 29 and 30 along with the sale agreement to the current insurance company. On submission of these documents, the insurer issues a NCB certificate wherein the accumulated NCB benefits are mentioned. With this certificate, the same benefits shall become applicable with the new insurance company. For online process, you generally do not require this certificate, and is based on the declaration at the time of purchase.

These are some lesser-known things about NCB that make you a smart buyer. With these tips available to you, make the right choice of skipping a claim for minor expenses as well as take the most advantage when transferring your policy too. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.

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Why Is Economic News Important and What Is Economic Calendar?

Currencies do not change their exchange rates on their own – they are stimulated by economic news. This data can be used for evaluating possible scenarios in financial markets. See below a general guide on the use of the Economic calendar to reach better results in your Forex trading.

Before you start trading, take a look at the Economic calendar to check important events of the week. The calendar can help you detect the key events in the currency market and make money without fearing for it in aggressive currency movements.

What is the Economic calendar?

The Economic calendar is also known as the Forex calendar. It contains a list of news published by governments and agencies, sorted by date. Here are some examples of such agencies:

* US Bureau of Labor Statistics (publishes economic data from the USA)

* Eurostat (published economic data from the EU)

* Office for National Statistics ( published economic data from Great Britain)

* IHS Markit (published the PMI of most countries).

How to read economic news right?

Economic calendars contain the dates of the most important national and international events that can influence the movements of some assets and markets. The date and characteristic of every event on the calendar can be used as a forex calendar indicator for making better trading forecasts.

All events on the Economic calendar forex have different significance and market influence. There are the following levels of significance:

Weak influence

The news or statistics from this category have almost no noticeable influence on the market. However, If there is no more important news on the horizon, certain price fluctuations might happen.

Moderate influence

In certain circumstances, such events can influence currency rates. However, the market might not react at all, if something more important happens at the same time. Still, several publications of moderate significance can give the market certain dynamics.

Strong influence

Such events influence currency rates significantly, especially if they are published one by one. A combination of such events can change the trend in an instrument. This category includes such events as reports of Central banks and their interest rate decisions, speeches of the heads of national Banks, the GDP statistics of major economies, the Non-Farm Payrolls, etc.

The most important news of Forex economic calendar

The Non-Farm Payrolls (NFP)

This indicator tracks the employment of the biggest part of the US solvent population. The US Bureau of Labor Statistics publishes reports on the first Friday of every month. The reports show the number of new workplaces created the month before, the general unemployment rate over the country, and the level of economic activity. Moreover, it shows the number of Americans that search for a job efficiently or have made a profit on it. Each of these three values indicates the general economic situation in the country. These statistics influence both market sentiment and the attitude towards the USD.

Central banks’ decisions on the interest rate

In the USA, the function of a Central bank is carried out by the Federal Reserve system (known as the Fed). Apart from the Fed, there are 7 more influential banks in the world: the Banks of Australia, England, Canada, Japan, the European Central bank, the Reserve bank of New Zealand, and the Swiss National bank. Their decisions on the interest rate most noticeably influence risk evaluation and potential results of Forex traders. Speeches of monetary politicians in the reports of such banks have special influence on Forex and in most cases, increases the volatility of its assets.

Closing thoughts

The Economic calendar is crucial for Forex traders because with it, they can plan their trading in advance. Many economic news can provoke unexpected reactions when the market moves by thousands points in a split second, so try to stick to your money management rules to avoid such shocks.

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Make the Most of These Advantages Offered by Extended Warranty Insurance

Any product bought in today’s day and age is backed with a warranty, especially when consumer durable products. Say, your new air conditions or refrigerator, or even mobile for that matter, all have manufacturer’s warranty. It can range between three months to five years based on the product and the manufacturer. But what about the expenses once this period ends? Any repair costs after this period of warranty needs to be borne by you.

Wouldn’t it be handy if coverage for these additional expenses was available? Extended warranty insurance is the product you need!

Using extended warranty insurance, any costs of repairs required after the initial purchase are covered by the insurance company. At times, replacement required due to manufacturing defects is also included in its coverage. Below mentioned are some of the advantages of extended warranty insurance –

Affordable premiums: Repairs to your home appliances are not simple. They require trained professional and specialised tools for its repairs. These costs of repairs can at times burn a hole in your pocket. With an extended warranty general insurance cover, you no longer need to worry about these expensive repair costs. Moreover, genuine spares are used in its repair at authorised service centres only.

All-round coverage: Extended warranty benefits include all-round coverage for your devices and appliances. Any costs required in the replacement or repairs including labour charges are covered by this insurance cover.

Coverage amounts up to invoice value: With extended warranty cover, the coverage is offered right up to the invoice value of the product. With such enhanced coverage, it ensures you get the most benefits of your home appliances simplifying your life. The only caveat for this insurance coverage is the appliances need to be used as per the its intended use as specified in the usage manual.

Flexible tenure: Based on the usability of the products and terms of insurance contract, you can opt for varying tenures for such insurance coverage. Based on your intended use, you can accordingly purchase an extended warranty insurance for it.

Repairs for any number of times: There are cases where one issue is resolved, a new one crops in. With an extended warranty cover, you need not worry about these repeated repair costs. Generally, this policy covers the cost of repairs for any number of occurrences within the policy tenure. No longer you need to worry about repeated breakdowns causing financial inconvenience.

Nationwide network and doorstep service: Leading insurance companies that offer extended warranty insurance have a nationwide network along with doorstep service. Even if you relocate cities, you need not worry about the coverage no longer being valid. All you need to do is inform your insurer and update your communication details. Also, for large home appliances like refrigerators and air conditioners, it isn’t possible to carry it over to the service centres. The doorstep repair facility comes handy at such times.

So, the next time you purchase a home appliance, make sure to buy an extended warranty insurance plan for it. Not only it makes repairs a breeze, but also relives you of other financial stress when it comes to expensive repair costs.  Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.

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5 Things You Should Know Before You Send Money to Bank Account Same Day to India

If you’re currently living and working in Europe, then the same-day remittance service will enable you to quickly and easily transfer funds to your family and friends in India. But there are a few things that you should know before using such services. Check out this post to learn more.

Thanks to digital technologies, the world has now turned into a global village. From remotely working for employer hundreds and thousands of miles away to video calling anyone across the world, technology has significantly impacted almost all walks of our lives. The same is true for the remittance industry as well.

Not too long ago, fund transfers from Europe to India took anywhere between 3-5 working days. But there are now Indian banks in Europe that offer same-day remittance services. While such services make the whole remittance process quick and convenient, there are a few things you should know about before using them. Take a look-

  1. Exchange Rate

If you’ve used remittance services in the past, then you might know that the exchange rates fluctuate 24×7. It is also possible for the exchange rate to change after you’ve initiated a transfer to India and before the service provider or bank processes the transaction. In some cases, this could impact the total amount your beneficiary receives in India.

But this issue can be effectively eliminated by using the same-day remittance services of a bank in Europe that offers guaranteed exchange rates. With this feature, the exchange rate would remain the same from the time you initiate the transfer to when the bank processes the transaction.

  1. Ease of Transfer

You should be able to initiate the transfer online without visiting the bank. Some of the Indian banks in Europe also allow non-customers to use their remittance services. For this, you are generally required to initiate a transfer from their online portal and then transfer funds to a local account of the bank.

Also, the bank should allow you to send money to any bank account in India. In most cases, you can use IMPS-enabled banks and branches in India for same-day transfers. You can confirm the same with your beneficiary in India before making a transfer.

  1. Transfer Speed

While same-day remittance services ensure that funds get deposited into the Indian bank account of your beneficiary on the same working day, there is generally a cut-off time limit. Only transfers processed before this time limit are processed on the same day.

Thus, before using such services, ensure that you check the cut-off limit of the bank. If you are using the services of a bank in which you do not hold an account, then your funds should reach the remitting bank before this time limit.

  1. Transfer Security

One of the most significant reasons to trust a bank for your transfers to India is the level of security they offer. While there is no lack of remittance service providers in Europe, banks are generally safer and more secure. With the rising number of remittance scams, it is wise to trust a reputable Indian bank in Europe for remittance.

You can check out the remittance platform of the bank online to know more about the measures they have taken to keep the accounts, funds, and transfers protected at all times.

  1. Tracking Transfer Status

Even though these services allow you to send money to bank account same day to India, you should still be able to track the status of your transfer. Banks generally provide a transfer tracking number that you can use for monitoring the status of your transfer online.

Prefer a service that offers this transfer tracking facility for complete peace of mind. You can also share the tracking number with your beneficiary so that they, too, are fully aware of when to expect the deposit into their bank account.

Using Same Day Remittance for Europe to India Transfers

Same-day remittance services have revolutionized the international remittance industry. If you are currently in Europe and want to transfer funds to India instantly, then look for a trusted Indian bank that offers this facility.

Keep the points mentioned above in mind when choosing a bank and using their remittance services to avoid discrepancies and ensure that the funds reach your beneficiary in the safest possible manner.

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How to Save Premium Cost on Your Life Insurance Plan?

Numerous factors play a role in deciding the premium quote of your life insurance policy. Some of these aspects are in your control and some aren’t. By selecting the right type of policy and understanding your insurance requirements, you can easily get an affordable policy. But today, we’ll share some insider tips on how to save up on the premium cost of your life insurance plan without any hassle.

  • Opt for insurance at a young age

When you are younger, you can avail life insurance plans with a lower premium. This is because with age, the chances of getting ill become higher, increasing the risk for an insurance provider. Many elderly people get diagnosed with diseases such as diabetes, blood pressure, cancer, etc. which can lead to an expensive insurance premium. But as a young individual, you shall be healthy without any medical issues. So, you can get a more affordable premium rate even if you select a high sum assured amount.

  • Compare life insurance plans

To avoid the trouble of going through numerous insurance policies, you may select a suitable one after comparing a couple of plans. However, it might not be the best one! This is why comparing life insurance plans is crucial. With so many insurance companies present in the market, you shall find various policies that offer unique features. With the help of life insurance calculators, it is easier to get all these plans in one place and select a suitable policy. So, make sure to compare insurers and the plans they offer before finalising the one.

  • Avoid adding too many riders

Every rider may seem lucrative as they increase your insurance coverage. However, you need to purchase these riders over and above your insurance premium. Thus, adding too many add-on covers to your plan can easily lead to a hefty premium rate. To make this process easier, it is recommended to understand your insurance requirements and choose the riders accordingly. Therefore, you won’t buy unnecessary riders with your insurance policy and get the most of your purchase.

  • Choose the right policy tenure

The policy tenure of your plan decides the amount of premium you shall pay to the insurer. But the tenure varies from one person to another depending on their lifestyle and needs. Instead of opting for a short or a long tenure, it is advised to understand the purpose of buying the insurance plan. Do you want to secure your family from any debts? Are you creating a financial backup, as your children are still young? Doing this shall help you estimate the right policy term without it being too short or long.

  • Follow a healthy lifestyle

Your lifestyle defines your health, and it plays a crucial role in your life insurance premium. The insurance provider considers your current health conditions and your family medical history before giving you the premium quote. If you smoke or drink alcohol, these lifestyle habits shall also impact the price of purchasing a policy. Therefore, follow a healthier lifestyle and keep away from the habit of smoking or drinking to avoid an expensive premium quote.

Now that you know how you can easily save up on your insurance premium, buy one today! You can purchase all types of life insurance policies from the comforts of your home and get an affordable premium by shopping online. The endless number of benefits of life insurance enable you to make the most of your investment. Lastly, ensure to go through the terms and conditions of the policy beforehand!

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Shay Benhamou Considers Ethereum As Bitcoin’s Eternal Rival

The Ethereum vs. Bitcoin debate has always been an interesting one as both cryptocurrencies are at the top of the ladder. The two cryptocurrencies have many similarities between them but they also have many differences which make them unique. The story of Bitcoin versus Ethereum starts in 2009 when Bitcoin was introduced as the first-ever cryptocurrency. Bitcoin was the face of cryptocurrency was many years till a blockchain platform was launched. That platform for blockchains is now known as Ethereum. The new cryptocurrency became a fast competitor of Bitcoin only five months after its launch.

Shay Benhamou says that this competition between Ethereum and Bitcoin is an eternal battle. Shay Benhamou is an expert in cryptocurrency investments and often shares his thoughts, views, and lessons for cryptocurrency traders. Let’s review some reasons why he considers Ethereum to be an eternal rival of Bitcoin.

Reasons Why Ethereum Is Bitcoin’s Eternal Rival

Similarities Between The Two

Ethereum and Bitcoin are similar in that they have the same foundations. Both assets are cryptocurrencies and are both high in demand. Bitcoin and Ethereum are decentralized cryptocurrencies. This means that no bank or government authorities have control over them. They are stored in blockchain systems. The decentralized form of these cryptocurrencies is what makes them so reliable because the owner of the currency has all control over it.

Ethrereum and Bitcoin both use a proof-of-network consensus which means that they require verification and confirmation before they are issued.  Due to the verification and confirmation processes that are necessary, both assets have slow transaction processes.

What Makes Them Different

Shay Benhamou says that while these two assets have many similarities, they also differ in many technical ways. They use different algorithms where Bitcoin is run on SHA-256 and Ethereum uses ethash. They also have different block times. In this regard, Ethereum is faster than Bitcoin because while Ethereum transactions are completed within seconds, while Bitcoin transactions can take several minutes to complete.

The most prominent difference between the two is in the fact that they have different overall aims. Bitcoin was developed to perform as an alternative to national currencies. It aspires, and has somewhat succeeded, to become the medium of exchange.  On the other hand, Ethereum was created to work as a platform to provide blockchain services with its own currency of Ether. Ethereum does not want to establish as a monetary system unlike Bitcoin.

Driving Force Behind Rivalry

The prices of both assets have always been in close quarters over the years. As soon as Bitcoin makes a move to become prominent in the eyes of the investor, Ethereum comes up with ways to increase the competition and introduces something new. For instance, the new upgrade of Ethereum is said to end Bitcoin’s blockchain dominance. The developers have made significant changes in the Ethereum system which is bound to attract many more investors. However, we cannot be too sure of this as Shay Benhamou says, because Bitcoin may just come up with an upgrade that may put it back to its initial dominant position. The constant challenges and upgrades that these two cryptocurrencies hit each other with is the main reason why Shay Benhamou and many others believe that the rivalry between Bitcoin and Ethereum will last all of eternity.

Concluding Thoughts

Shay Benhamou is a firm believer that the rivalry between Bitcoin and Ethereum is eternal. He has many solid reasons to back this claim and has shared a few with us. Both assets are similar in so many ways but also differ in a lot. This makes them the perfect competitor for each other. Moreover, they both were launched in a close timeline which means that they grew together. The market value of both these assets is always in close numbers. Even if one is affected by something, it soon closes the gap in the values. All these reasons pile up to support Shay Benhamo’s belief that their rivalry is everlasting.

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