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The 3 guiding Guiding Principles to Case Interview Success

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Have you ever wondered why case interviews are no longer a preserve of a few elite management consulting firms?

All industries covet employees from elite management consulting firms, like McKinsey, for one particular reason. They are very efficient. But what do these firms get right that others don’t?

Well, for many years, recruiters have entirely disconnected job interviews from the reality of an employee’s day to day job. But their recruitments have continuously failed. It has produced the best candidates at the interview, but not those who perfectly fit for the job.

Consequently, other industries are now copying how the consultancy industry recruits.  For example, tech and finance, led by Google and Capital One, have embraced case interviews.

In this piece, we dig deeper into why case interviews have become so popular in recent years, and cover the basics. We also cover the three foundational guidelines that are the key to your success in these interviews.

What are case interviews, and how efficient are they?

Case interviews connect the recruitment process to the job position on offer. The panelists give candidates challenging business situations to analyse and sort out in a planned real-time environment.

This unique type of interview allows the company to directly evaluate your problem-solving skills and talent in a simulated job setting. How you perform here strongly correlates with your long-term job performance.

There is no right or wrong answer, as in reality, there are many equally valid answers to the problem at hand. The panel concentrates on how you answer the questions and pull insightful information from your case presentation.

On the interviewers’ priority list is your general problem-solving skills, highly valued in an ever-changing business environment. By simulating the job environment, the employer can quickly tell how you’ll fit in real in practice.

And since a job opening attracts candidates from different backgrounds, the recruiting firm can get useful insights from the interview to compare top candidates and accurately decide the perfect fit for the company.

3 Fundamental Guiding Principles of Case Interview Preparation

Hand holding a compass, illustrating the idea of knowing how to proceed to prepare for consulting interviews

Most candidates underestimate the level of preparation one needs and just how long it takes to prepare adequately for a case interview.

A case interview is such an involved process and needs serious and detailed preparation. The trick is to start as early as when you get down to write your resume and cover letter for that position, and if possible, months ahead.

We can’t fully cover everything on the preparation down to the minute detail here. For that, we would need four more such articles.

However, we can set you on the right path with these three guiding preparation principles;

1. Master the Basics

Get the grip of the basics in your profession.

For example, if it is a management position, revise the fundamentals of accounting, finance, and economics.

A sharp mind can rapidly pick out the essential details to break down the case studies into rational, simple units that are easy to explain.

So, get your mental math up to speed. A trained mind can quickly and accurately interpret all the case study exhibits like data and graphs.

While case studies are complicated and equally intimidating, you want to break the problem into a series of small, relatable tasks, which your panel can follow without too many questions.

2. Learn How to Structure the Cases

While case studies are sophisticated and equally intimidating, you want to break the problem into a series of small, relatable tasks that your panel can follow without too many questions.

The best way to answer the case studies is to build strong stories that make you stand out among other candidates. For questions that invite you to tell a story, make sure you keep it relatively simple but memorable.

There’s a simple way to structure your stories:

●     Situation – explain the brief context of the story.

●     Issue – Identify the problem and task you and your team had to handle.

●     Solution – Elaborate on how you tackled the issue.

●     The result – Did you succeed or fail? Then quantify the impact this result had on solving the company.

●     Lessons – Always conclude the lessons you learnt from the situation and what you would do differently in the future.

3. Practice to Perfection

You need to do more than just knowing principles; you have to put them in practice. The more you practice, the more you get better in cracking case interviews. Plus, tackling as many situations as possible minimizes the chances of being caught off guard.

While practicing, you can do it yourself and, in some cases, involve a partner or seek professional support to simulate the real interview accurately.

A consultant straightening his tie as he gets ready for work

NB: Help is Available

Whilst you don’t strictly need it to succeed, you should be aware that professional help is available for case interview preparation and that many candidates avail of such help in practice.

In such stiff competition for high-paying jobs, the calculation is that even a moderate increase in the chances of accessing a sizable consulting salary (as well as associated career opportunities) makes the investment worthwhile.

This is much the same calculation as you make in paying tuition fees to attend university in the hope of getting higher-paid jobs and greater opportunities later.

The resources available range from books and PDF guides right through to professional coaching with ex-consultants. For more information, you can start with: myconsultingcoach.com/case-interview-coaching.

In Brief

While not all companies practice case interviews, more and more firms integrate it in their recruiting processes.

Preparation is the key. Learn the three guidelines, but don’t forget that your success in case interviews all round down to communication. Your answer is only as good as you put it across.

Getting a professional to help you in your training enhances your chances of getting an offer from industry leaders like McKinsey, BCG, or Bain. After reviewing all these three fundamental guidelines, we conclude that practice is your best way to prepare.

New Report Predicts Big Future for Virtual Reality Technology

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Technology plays such a fundamental role in our lives these
days that it is often hard to think about just how we would cope without it. So
many intriguing innovations have emerged in the past few years alone, with
cryptocurrency, for example, attracting an increasing amount of attention.
Smart home technologies like the Amazon Echo also give us a chance to do
everything from listening to our favourite songs to turning lights on and off,
while streaming services mean we have films and TV shows available at the touch
of a button.

Now, new research has suggested that another technological
innovation may be on the cusp of taking the world by storm. Virtual reality
technology may have existed in some form for decades now, but there are signs
that it may be about to become a key part of our lives.

Market growth

At the start of September, Fortune Business Insights
released a new report examining the virtual
reality market
and it predicts that the technology could experience major growth
in the next seven years. While the report suggested that the global market was
worth $3.10 billion in 2019, it also forecast that the sector will have a value
of $57.55 billion by 2027. The increase is thought to equate to a compound
annual growth rate of 44.3 per cent during the forecast period. The report
stated that the rise of 5G looks set to have a major bearing on the virtual
reality market, with its higher bandwidth and lower latency having an impact.

In addition, it suggested that the expansion of the area
may be boosted by the use of VR solutions across the defence sector, while demand
is also expected to be affected by the growing interest in virtual meetings and
conferences.

Making an impact

Such predictions hint that virtual reality is in for a big
future, but it is also worth noting that the technology is already having a
tangible impact in many different industries.

For example, its presence has been felt in gaming now for
some time thanks to technology like the PlayStation VR headset. The Sony system
supports a whole host of games including
exclusive titles
like Astro Bot Rescue Mission and other high-profile blockbusters
like The Elder Scrolls: Skyrim and No Man’s Sky. The music industry has
recognised the potential offered by VR in recent years as well, with MelodyVR
creating virtual reality gig experiences. The company hit the headlines at the
end of August after it bought Napster, with MelodyVR chief executive Anthony
Matchett saying that the aim was to create “a truly next-generation music
service”.

Virtual reality is having an impact in education too, with
the Telegraph revealing how the technology has been used to support science
experiments and teacher training in recent times.

Where next?

But while the Fortune Business Insights
study predicted that the defence sector and virtual conferences could play a
role in VR’s bright future, are there also other areas which might go on to
make use of the technology?

The health sector could be one
key industry
where VR has a major impact
going forward, with exciting applications emerging on a regular basis. For
instance, Healthcare Global reported last month on Oxford VR winning a UK
Digital Experience Award for a programme based around cognitive behavioural therapy.
The Gold Award for Best Use of Emerging Technology means the tech company has
now won a prize in that category for two years running. Online casino gaming is
another area that has embraced many innovations over the years, with some sites
offering
live blackjack where players compete
against real dealers
. Such services allow players
can see cards being dealt right in front of them, but wouldn’t it be
fascinating to see the games adapted for VR so that they replicate the
experience of playing in a land-based setting? Finally, it is likely that we
could see virtual reality have an impact on our retail experience in the future
as well. Last year, we outlined how
both
VR and its close relative AR
could
redefine purchasing experiences, with consumers potentially getting the chance
to wear headsets and scroll through items in their own living rooms. We might
also see the emergence of smart mirrors in stores, with the devices giving
people the chance to try out clothing virtually before buying.

Fascinating future

Virtual reality is already having an impact on many areas,
but it really does seem like there is a huge amount more to come.

As the Fortune Business Insight study suggests, the growth
of 5G could be vital to unlocking VR’s true potential and we might then see it
have a major influence across a range of different sectors. Technology might
play a key role in our lives already, but virtual reality could be about to
take things to a whole new level.

What You Need to Be Careful of When Using Automated Trading Software

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Automated trading software has many pros. You can improve
your trading skills immensely by making use of computer algorithms and
analysis. You shouldn’t even consider it cheating, either, as it’s a very
common tool used amongst traders around the world. You cannot be on at all
times of the day. You cannot always be there to make the perfect trade. With
automation, you can take advantage of all the best trading opportunities on a
24/7 basis, but its pros don’t stop there.

There is a reason why an estimated 70%
– 80% of US stock exchanges
are done through an automated trading system.
It’s because it works, though it does have its limitations.

Just as there are pros to using automated trading software, there are also
things to be wary of. You must make sure the software is legitimate and secure,
amongst other precautions, you will want to take to protect your investment and
see the highest return of profits as possible.

Pros of Automated Trading Software

There are many benefits of automated trading software, and
you can learn about them all in-depth in this Bitcoin Code review.
Still, to highlight some of the best benefits you will see by automating know
you can set your own rules, minimise emotional trading, and of course, improve
the efficiency at your trades as a whole.

You Can Set Your Own Trading Rules

The first thing that is crucial to note is that though the
software will assuredly provide suggestions and can act on your behalf, you are
still the one to set the final rules. This gives you control even in an
automated environment.

Minimise Emotional Trading

Emotional trading is risky because it ignores your
thought-out strategy and, instead, has you betting on your gut. When it comes
to trading, particularly in a long-term environment, then you need to minimise
emotional trading. You can do this by setting the right parameters in your
automated trading software and trusting it to do its thing.

Improve Trading Efficiency and Endurance

You don’t have to sign off and stop trading with automated
trading software. Instead, you can keep going on a 24/7 basis with fair
accuracy.

What You Need to Be Careful of When Using Automated Trading Software

The pros are numerous, but to ensure you choose a safe and
secure option, you will want to remember these cons:

More Complicated Executions Require Programming Knowledge

Advanced trades and executions that go beyond the scope of
your trade software will require you to know and understand the programming
language
that makes up its core composition. Not only that, but there is no
consistency in languages, so you will need to know a variety of programming
languages to get the most out of all the trading programs out there.

Automated Trading Systems Can Glitch

Programs and computers glitch. There could be connectivity
issues, power losses, your computer may crash, and so on. When these happen,
your automated trading software cannot do its job, and you need to work to get
it back up and online ASAP.

There Are Scams

The most significant risk, of course, is that many options
out there are going to be scams. You need to do your due diligence beforehand
so that you can avoid the scams and instead choose a safe and reliable trading
software. Even if the software and parent company itself are not a scam, they
need to have airtight security so that your hard work isn’t stolen from under
your nose.

Do This Before You Start Your White Label Brokerage

If you are reading this, then you probably want your brokerage to be a success. Many people rush into starting a brokerage, even already successful business people. The promise of quick and significant returns is too tempting for many. There is no such thing as a free pass to riches, and you will need to prepare yourself for this new venture. Read on if you would like to know more.

You will need capital

It takes money to get any new venture off the ground. Nobody should attempt to start a new brokerage until they are sufficiently capitalised. Even if you do not intend to run a massive operation with staff and fancy offices, you will need money to invest in your white label MT4 platform and market-leading services.

Most forex traders use the Metatrader 4 platform. It is pretty much the industry standard. The software is developed and licensed by MetaQuotes, and they are renowned throughout the forex industry. They charge a fee to anyone who sublicenses their software, and therefore, you will need capital to offer the white label version to your clientele.

Some entrepreneurs may be tempted to build their own proprietary trading software. That option could have potential, but this is a challenging way to get started in this industry. It is tough to sell an unknown trading platform to traders who know and trust MT4 already.

Pro-tip: If you are under capitalised, a more straightforward and more practical solution is for you to become an introducing broker. Once your IB network is generating a monthly volume, you can transfer your client accounts to your own white label brand.

 Experience

You may have other successful businesses or have qualifications in different fields. However, the forex industry is a complicated beast, and you will need to be up to speed with its nuances very quickly.

Most new forex businesses fail within the first few years because it takes them far too long to understand what makes one work and how to avoid the potential pitfalls and headaches associated with it. The only way a forex business can succeed is by having the experience (or at least having access to that experience), and a strong work ethic. If you ignore this point, you might as well flush your hard-earned cash down the toilet.

Popcorn technology has a start-up team that is eager to help new brokerages succeed. Besides providing all the tools a start-up brokerage needs, they also offer sound advice to help you hit the ground running.

Market-leading services/products

Even if you have the money and the necessary business knowledge, there is still one other essential piece of the puzzle that needs to be resolved before you ever think about starting your brokerage.

You need a plan and a unique element to your service. It would help if you had an idea to help you stand out among the competition. The forex industry is a hyper-competitive market.

It is not enough to put your logo and slogan on an existing piece of software; you must have a unique angle to win over customers like a live chat room or professionally managed accounts. Your clients need an incentive to join your business.

How do timesheets work?

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An essential part of running any successful
business, implementing effective timesheet management can make the difference
between running a tight ship and encountering endless problems.

So, how are timesheets deployed in a business, how to make a timesheet for your business,  and what can you do to improve them in a way that works for you?

What
is a timesheet?

Timesheets track the number of hours or ‘time’
employees spend on their work. This can be segmented on a day-by-day basis,
account for project work, actions for a specific client, or however you choose
to operate.

These are completed by the individual and then
submitted – normally on a monthly basis – allowing businesses to capture
information about work executed to date. Where these used to take the form of
physical slips and dockets, modern businesses increasingly use digital software
platforms to capture and process data. Or, where an extensive physical solution
already exists, a hybrid platform can be put in place as a permanent or stage
solution that addresses ongoing issues.

These can allow for the creation of custom
forms and ensure that all essential data is captured in a timely manner.

However, this is not always the case.

For many businesses, timesheet management is an
ongoing bugbear that requires continual care and attention. Forms are often
incorrectly completed and tendered late – if at all. This can result in members
of the department getting involved in ‘chaser’ engagement to follow up on
issues with submission. This can quickly produce logjams for smaller companies
and a culture of acceptance for larger businesses that swallow the wastage of
effort as a simple cost of doing business.

Taking the time to understand your unique
timesheet needs and the opportunities in the current marketplace for tailored
care can bring significant benefit to your business…and help your teams keep
their “Just following up” emails to a minimum.

How do
they work?

While there may be differences in the payroll
process between companies, most businesses follow standard timesheet procedure.
This will involve providing the employee with a template or form to record the
hours worked and the facility to add any notes or incidentals that should be
factored in. As standard, this should record when an employee or contractor
starts or ends their day, takes a break, and engages in project specific tasks
when working across a range of clients.

Once this is captured, it is passed to your
internal team to calculate their wages and payroll. This involves making any
required deductions such as National Insurance contributions, student loans,
child maintenance or other values.

When it comes to invoicing, employees are
required to be honest and accurate when it comes to providing their
information. Outside of this, your company is required to carry out a range of
payroll tasks and ensure that their liabilities are accurately calculated, and
the payroll register is fully up to date.

Why do
we need them?

Timesheets forms the backbone of a business for
a number of reasons, these include-

Wage
Management
: Being able to pay employees accurately and in
a timely manner is an essential part of a business and any disruptions can
cause serious issues. This can result in overpayment which may result in morale
damage or underpayment, which can result in frustration for employees or
potential legal action. Issues around payroll or timesheets will often take
time and resource to resolve – making them a high-priority issue for
supervisors and all professionals involved.

Data
Collection
: Capturing accurate timesheet data is
essential when it comes to improving your business approach and providing
accurate estimates for future work. Gathering this data can allow you to
acquire oversight of the realities of real-world costs and play a vital role in
project management. While paper timesheets can be easy for individuals to
complete, ‘going digital’ can allow professionals to complete their timesheets
on smart devices, receive non-intrusive reminders to complete their submission,
and give peace of mind about where they are currently sitting in your payroll
pipeline. This keeps all parties fully aware of the process and reduces bad-feeling
or frustration in the event of delays or other unavoidable issues. 

Efficiency:
Getting timesheet management right takes significant
time and effort. If your business grants employees a high degree of
autonomy, outsources heavily, or has high staff turnover – issues around
timesheet completion can be significant. If your timesheet management actions
are not optimised, this can result in excessive resource expenditure, issues,
or ongoing resource drain as your teams struggle to complete their tasks.

In summary, deploying a digital or cloud-based
solution can make a massive difference when it comes to managing your work and
allow for increased oversight, accuracy, and error reduction when it matters
most.

Duncan Clark, NextGen Nano: The Future of Tandem Solar Cells

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Research from the nanotechnology
specialist company NextGen Nano suggests the viability of accelerating development
of high efficiency organic photovoltaic technology.

Studies conducted by NextGen Nano suggest
that a simple material known as HSolar is widely compatible with multiple solar
cell materials, serving as an interconnecting layer (ICL) in tandem solar
cells. HSolar also showed potential in terms of stability and efficiency in
tests replicated by several independent research teams.

Outlined in a paper recently
published in the Advanced Energy Materials journal, the research is a
vital step in the development of high efficiency organic photovoltaic (OPV)
technology, enabling future research teams to fabricate and develop
increasingly effective multi-junction OPVs. Results gathered from NextGen Nano
simulations indicates that efficiency in excess of 22% may be achievable in the
near future, based on these findings.

As Duncan Clark, NextGen
Nano’s Director of Operations explained, widespread implementation of OPV
technology is integral to realising a brighter, more sustainable future. Unfortunately,
development of organic solar technology has faced significant challenges in
terms of efficiency and replication, hindering commercialisation. Researchers
from NextGen Nano have taken step to overcome these obstacles, demonstrating OPV
efficiency in ways that can be replicated by third parties.

Led by research scientist Dr Carr
Ho and Dr Franky So, NextGen Nano’s Chief Technology Officer, the research
team’s main objective was to find ways of improving OPV efficiency. Traditionally,
development of OPVs has been curtailed by the narrow absorption bands of organic
semiconductor materials. Numerous researchers have broached this issue,
creating OPV technology capable of achieving higher efficiencies by layering
complementary subcells to create a multi-junction (MJ) OPV device.

The ICL serves as an electrical and
physical contact between subcells, which is vital in reducing energy loss. The ICL’s
efficiency is integral to the MJ solar device’s function. To date, developing
an ICL which does not interfere with other layers has presented significant
problems. The NextGen Nano team also had to overcome difficulties in terms of promoting
efficient charge recombination without diminution in open-circuit voltage, as
well as producing replicable results.

In its recent study, the NextGen
Nano team demonstrated a new type of ICL comprising Zinc Oxide and HSolar. The
ICL is relatively simple to produce commercially from raw materials. In
testing, NextGen Nano’s device demonstrated a power conversion efficiency of approximately
14.7%.

The NextGen Nano team shared these
results with other research teams, with the ultimate aim of validating the repeatability
of its findings. Third party research teams achieved similar efficiencies of up
to 16.1%. Simulations performed by the NextGen Nano team suggested that it may
be possible to increase efficiency by up to 22% by utilising advanced organic
photoactive materials to serve as tandem cells.

Matthew Stone, NextGen Nano’s Chairman, is committed to pioneering research into the
development of new, clean technologies through the implementation of
nanotechnology. NextGen Nano has strived to advance OPV technology for some
time, contributing to the next generation of dynamic, high-performance solar
panels.

Earn Money with Cryptocurrencies: Your Options

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Cryptocurrencies are still in their infancy, but there are
already thousands of iterations, and their market value is in the hundreds of
billions. They are already big business, and it is in all of our best interest
to get on board with cryptocurrencies in one way or another. They are both an
investment and a currency all in their own, so consider earning cryptocurrency
with any of these options:

Buy Cryptocurrency

Buying
cryptocurrency
just as an investment is a perfectly reasonable strategy.
Even if the price drops, you are banking on its lifetime value over the years,
not a few days or even months. Bitcoin used to be worth $5USD per coin, now it
is worth around £8000, though its exact value fluctuates by hour. As
cryptocurrencies become more widespread and popular amongst traders, that value
is only set to increase as an average. If you don’t like the risk associated
with trading, buying, and waiting for a great way to earn money through value
increase.

Trade Cryptocurrency

Rather than buying cryptocurrency and sitting on it, which can be a brilliant strategy, you will be trading it. This means in simplest terms that you buy low and sell high, or that you trade different cryptocurrencies to take advantage of the price differences to make a profit. You can make this process a lot easier as well by using trading software to set up automated trades and to better monitor the market on the go.

Request Payment Via Cryptocurrency

If you have the option, you can actually just ask to be paid with cryptocurrencies
or offer your customers the option to pay you in cryptocurrencies. This is a
great way to earn them without any risk to your capital, and you won’t need to
pay tax on that income until you cash out your Bitcoin into bank-regulated
money.

Take Advantage of Airdrops and Forks

If you trade with Bitcoin or other cryptocurrencies, you can
actually earn free coins all the time. New technological breakthroughs often
mean new currencies, and coins are given away, as a result, to bump up their
market. These free coins often have two names, Airdrops,
which are tokens given away freely to market new coins or projects. The second
is a Fork, which is a change in the tech that physically splits a coin in two,
creating new cryptocurrencies that your money will automatically be converted
to.

Mine Cryptocurrency

The last option is certainly not an option for most people
on an everyday basis, though it did use to be. Mining for Bitcoin used to
require nothing more than a computer, but today you will need very specialised
tools.

Mining is a part of the Proof of Work consensus, and it is
one of the first and oldest ways to earn money with cryptocurrencies. They are
the ones that make new coins through block rewards, though the amount of coins
that can be created is limited. Though it is unlikely you will get involved in
mining, it is a good idea to understand its basic mechanics when looking to
trade, earn, or work with cryptocurrencies.

5 tips for making your small firm leaner and meaner after COVID-19

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Covid-19 has caused the world of business to turn
completely upside down. No longer are people feeling confident that they can go
into a store without there being a consequence. Even if your business is
following government guidelines and you are keeping your premises the cleanest they
have ever been, you may be considering keeping your small firm an online brand.

That way when you eventually come back, then you can make
it even better than it was before. Here are the top five tips that you should
be considering when you eventually reopen your business.

  1. Combine digital and traditional marketing

Naturally, if you want to make a great impact on your
audience, you are going to need to use your advertising to show that you are
going to be reopening
the doors of your business
.

So, you may want to announce it on your social media
platform and make a campaign offering products or discounts to the public.
Combine this with physical flyers, posters and posted advertisements that you
can print and personalise using slitters
cutters creasers
.

That way, you can use advertisements to quickly grab your clients’
attention, as well as to allow them to read deeply into your posters’ main
message. It is a great way to push your message out and potentially bring in
new clients.

  • Remote working

Honestly, the prospect of working from home has made the
lives of many workers far easier than ever before. Now they are able to balance
their personal and work lives and spend more time with their children, all
because they are able to use a VPN or simply work with their laptops from their
living rooms.

Now you can employ your workers without having to worry
about the costs of your business building. Remote
working
is simple and it is easy to keep up with your workers. You can keep
updated on their progress through virtual meetings and even host occasional
meet-ups in a socially distanced area to ensure they still know how to get on
with their work.

This freedom can really help them with their tasks.

  • Offer discounts on products

Honestly, with the UK reopening different stores and
businesses around the country, it’s important that you offer as many discounts
as possible to try and draw the attention of your customers.

Many customers may feel nervous about coming forward after
the lockdown. That’s why it is good to encourage them with loyalty rewards and
discounts to make them feel comfortable engaging with your firm again.

  • Digital SEO help

If you are thinking about moving all of your products
online, as you want to gain more of an audience, you should consider investing
in some SEO advice. The aim would be to get your products on page one of
Google’s search engine rankings. Spruce up your website and make sure it is
mobile friendly. That way, you can encourage online shopping.

  • Re-evaluate your business

As you reopen your business, you should use this as an
opportunity to re-evaluate how your company runs and what previous marketing
campaigns have worked out. Have honest discussions with your colleagues and
business partners about what has worked better during lockdown. You can also
figure out how to capitalise on this from there.

How to Get Started Trading

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Trading stocks or currencies is a very lucrative opportunity
that, if you have a knack for it and are patient enough to learn the ins and
outs of your chosen trading type, you can make a lot of money with. It isn’t guaranteed
money, but nothing in life is guaranteed. If you are willing to play the
markets, you can make a very healthy profit, and with today’s automation and
software, you don’t even need to put that much effort into it.

There are steps you are going to want to do before you start
so that you can make the most out of the potential and see the highest returns.
These steps are as follows:

Become Familiar with the Market

You don’t need in-depth or insider knowledge in the latest
news or technological breakthrough to start trading, but it does help.
Understand the market and, at the very least, understand the basics of the type
of trading you want to get involved in. There are many ways you can make money
in Forex or stock exchanges, and choosing the right one for you will help you
improve your analytical and trading skills.

Set Up Your Trading Profile

This will look very different depending on where and how you
are trading. Trading stocks will take different steps than trading
cryptocurrencies. With cryptocurrencies, for example, you will need first a Bitcoin wallet that holds
your new currency securely, as well as choose how you are trading
cryptocurrency.

You can do it either by trading the actual bitcoin for either another
cryptocurrency or for cash in pounds. Or you can do it with Bitcoin CFDs, where
you essentially bet on the market (in the UK, there is also spread betting).

Set up your profile on the relevant market, and then you
will be ready to start trading.

Use Automated Trading Software

Trading on your own without any help means needing to keep
an eye on the value of your stocks or currencies throughout the day and even
through the night. It means being glued to your screen so that you can make the
best trades at the right time.

Or it could mean spending just a few minutes a day. By using trading software,
you can automate your trading, eliminate emotional mistakes, and benefit from
precision and market analysis, all free to use. Just remember to read up on
full reviews before choosing a trading software, like this one so https://elitetrading.de/trading-software/bitcoin-era/

that you can make informed decisions. The trading software
might be great, but you also need to ensure it is safe and secure to use.

Be in Control and Continue to Learn

You must always be in control. Only use expendable assets to
use on the stock market, and remember to take money out to invest
in other, more stable markets
when you reach certain milestones. You do not
want to keep all your money on the stock markets or in cryptocurrencies. By
spreading out your investments, you can secure your financial success and
continue to trade in a more positive environment.

How do online casinos pay out your winnings?

One of the most common money issues that players have with online casinos is paying out winnings. Although deposits are done immediately in 99% of cases, payouts can take a lot longer which understandably frustrates some players. Why can’t they pay you your money as fast as they take it?

Well, the main reason why some withdrawals aren’t that speedy is because they need to be approved first. All online casinos are licenced by authorities. Respected authorities – such as the UK Gambling Commission – require the active prevention of money laundering, fraud and other types of illegal activity. This directly impacts some payouts and means they can’t happen quickly.

However, there are a few things you can do to help things along the way. Here, we will explain precisely how online casinos pay out winnings, alongside a few tips and advice on how to try
and speed things up.

How online casinos pay you

Withdrawing at an online casino has three steps before the money arrives in your account:

  1. Requesting
  2. Approving
  3. Processing

First of all, you must have enough money in your account as most sites have a minimum withdrawal amount. Once you do, you can simply navigate to the cashier page and input how much you want to be paid out. In most cases, you can only withdraw using the same method you used to deposit. For example, if you deposited using a Visa debit card then the payout can only be done back to that same Visa debit card.

There are a few situations when this rule doesn’t apply – such as if your card has expired, or if you used a deposit method which doesn’t accept withdrawals. Alternative methods will then be provided, but you will often have to settle for a different card payment or bank transfer. This isn’t ideal as they tend to be some of the slowest available (more on that later).

Once you have requested a withdrawal, it must be approved by the casino’s payment team. As mentioned earlier, this is a necessary step to curb money laundering and other illegal activities. However, the time it takes to be approved can vary dramatically. In some cases, the withdrawal will take longer because of such money laundering checks. However, some casinos just take a lot longer than others to give their approval.

When it is approved, the payout is then sent to the payment provider to be processed. Exactly how long this stage takes depends upon which withdrawal method you are using. Similarly, the processing speeds can vary dramatically by each provider. However, once this is completed, the money will be in your account.

How to get your payouts approved quickly

Now you know how online casinos actually pay you, let’s look at how you can try and speed things up – starting with the approval process.

As mentioned above, some online casinos openly have a slow approval time. Therefore, your best bet is to choose one which aims to complete this stage as quickly as possible. In general, fast payout casinos will approve withdrawals within 24 hours – sometimes even quicker. In the best cases, you can receive your payout within the same day you requested it.

However, even the fastest paying casinos aren’t immune to money laundering and other checks. If one of your withdrawals is flagged for this then it will very likely take several working days to be approved, no matter what site you choose. Although getting flagged is out of your hands, you can prepare for it by knowing the kind of documents you may be expected to provide. For example, it’s common for casinos to ask for bank statements, proof of funds, copies/screenshots of payment
methods and other information in order to pass the approval stage.

What’s the best casino withdrawal method to
use?

The biggest impact you can have is to choose the best withdrawal method(s) available. If you select a provider with quick processing times then you will often be paid out far quicker.

The general rule is that e-wallets are faster than traditional methods, by far:

  • E-wallets – Usually pay out within 24 hours (sometimes within just a few minutes).
  • Card transactions / Bank transfers – Usually pay out over several working days.

Of all the e-wallets available, PayPal is one of the most popular with players. That’s because PayPal casinos not only offer fast withdrawal speeds but also very high security. In fact, all gambling merchants must be approved before being able to offer PayPal payments to their players. It’s one of the safest ways to pay over the internet.

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