#mobile earning app 2021

[gootarts]

as of 8/3, the most recently updated version of this post is here (it's a reblog of this exact post with more info added)

as a lot of you know, limbus company recently fired its CG illustrator for being a feminist, at 11 pm, via phone call, after a bunch of misogynists walked into the office earlier that day and demanded she be fired. on top of this, as per korean fans, her firing went against labor laws---in korea, you must have your dismissal in writing.

the korean fandom on twitter is, understandably, going scorched earth on project moon due to this. there's a lot currently going on to protest the decision, so i'm posting a list here of what's going on for those who want to limit their time on elon musk's $44 billion midlife crisis impulse purchase website (if you are on twitter, domuk is a good person to follow, as they translate important updates to english). a lot of the links are in korean, but generally they play nicely with machine translators. this should be current as of 8/2.

Statements condemning the decision have been issued by The Gyeonggi Youth Union and IT Union.

A press conference at the Gyeonggido Assembly will occur on 8/3, with lawmakers of the Gyeonggi province (where Project Moon is based) in attendance. This appears driven by the leader of the Gyeonggi Youth Union.

The vice chairman of the IT union--who has a good amount of experience with labor negotiations like these--has expressed strong support for the artist and is working to get media coverage due to the ongoing feminist witch hunts in the gaming industry. Project Moon isn't union to my knowledge, but he's noted that he's taken on nonunion companies such as Netmarble (largest mobile game dev in South Korea) by getting the issue in front of the National Assembly (Korea's congress).

Articles on the incident published in The Daily Labor News, Korean Daily, multiple articles on Hankyoreh (one of which made it to the print edition), and other news outlets.

Segments about the termination on the MBN 7 o' clock news and MBC's morning news

Comments by Youth Union leaders about looking into a loan made to Project Moon via Devsisters Ventures, a venture capital firm. Tax money from Gyeonggi province was invested in Devsisters in 2017, and in 2021, Devsisters gave money to Project Moon. The Gyeonggi Youth Union is asking why hard-earned tax money was indirectly given to a company who violates ESG (environmental, social and governance) principles.

Almost nonstop signage truck protests outside Project Moon's physical office during business hours until 8/22 or the company makes a statement. This occurs alongside a coordinated hashtag campaign to get the issue trending on Twitter in Korea. The signage campaign was crowd-funded in about 3 hours.

A full boycott of the Limbus Company app, on both mobile and PC (steam) platforms. Overseas fans are highly encouraged to participate, regardless if whether they're F2P or not. Not opening the app at all is arguably the biggest thing any one person can do to protest the decision, as the app logs the number of accounts that log on daily. For a new gacha such as Limbus, a high number of F2P daily active users, but a small number of paying users is often preferable to having a smaller userbase but more paying users. If the company sees the number of daily users remain stable, they will likely decide to wait out any backlash rather than apologize.

Digging up verified reviews from previous employees regarding the company's poor management practices

Due to the firing, the Leviathan artist has posted about poor working conditions when making the story. As per a bilingual speaker, they were working on a storyboard revision, and thought 'if I ran into the street right now and got hit by a car and died, I wouldn't have to keep working.' They contacted Project Moon because they didn't want their work to be like that, and proposed changes to serialization/reduction in amount of work per picture/to build up a buffer of finished images (they did not have any buffer while working on Leviathan to my knowledge). They were shut out, and had to suck it up and accept the situation.

Hamhampangpang has a 'shrine' section of the restaurant for fans to leave fan-created merch and other items. They also allow the fans to take this merch back if they can prove it's theirs. Fans are now doing just that.

To boost all of the above, a large number of Korean fanartists with thousands of followers have deleted their works and/or converted their accounts from fanart accounts to accounts supporting the protests. Many of them are bilingual, and they're where I got the majority of this information.

[note 1: there's a targeted english-language disinformation campaign by the website that started the hate mob. i have read the artist's tweets with machine translation, and they're talked about in the second hankyoreh article linked above: nowhere does she express any transphobic or similarly awful beliefs. likewise, be wary of any claims that she supported anything whose description makes you raise eyebrows--those claims are likely in reference to megalia, a korean feminist movement. for information on that, i'd recommend the NPR/BBC articles below and this google drive link of english-language scholarly papers on them. for the love of god don't get your information about a feminist movement from guys going on witch hunts for feminists.]

[note 2: i've seen a couple people argue that the firing was for the physical safety of the employees, citing the kyoani incident in japan. as per this korean fan, most fans there strongly do not believe this was the case. we have english-translated transcripts of the meeting between the mob and project moon; the threats the mob was making were to......brand project moon as a feminist company online. yes, really. male korean gamers aren't normal about feminism, and there's been an ongoing witch hunt for feminists in the industry since about 2016, something you see noted in both the labor union statements. both NPR and the BBC this phenomenon to gamergate, and i'd say it's a pretty apt comparison.]

let me know if anything needs correction or if anything should be added.

[cindylouwho-2]

Etsy Fourth Quarter Earnings 2023 - Still Banking on Improving Marketplace Sales, But Not Revealing Many Plans

Slide 23 from Etsy's 4th quarter 2023 earning report, © Etsy. it shows what percentage of sales each major category has, with performance in the quarter.

Etsy’s fourth quarter results for 2023 were as uninspiring as expected, but despite revealing few plans, the corporation is convinced it can increase gross marketplace sales through its gifting and other initiatives. There was a lot of interesting information for shop owners, though, so let’s get right to it. 

First, here are the resources that you should read/watch yourself, if you want to know more:

the press release

transcript of the conference call

slides from the conference call

video of the call (click on “Webcast” under “Latest Quarterly Results”)

my summaries of the fourth quarter 2022, and the third quarter 2023 for comparison

Then, the basic numbers (covering October to December 2023, compared to the same period in 2022):

Sales on Etsy were $3.6 billion, down 1.4% year over year

Total sales for all 3 marketplaces (Etsy, Reverb, and Depop) were $4.0 billion, down 0.7%. [Elo7 was officially sold in mid August; its numbers were still included in the comparison totals of 2022]

Etsy’s revenue (including all 3 sites) was $842.3 million, up 4.3%

Seller service revenue was up 9.4% to $226.5 million, while marketplace revenue was up 2.6% to $615.8 million

Net income was $83.3 million, down 24% (mostly due to the layoff costs of $27 million in the quarter)

Active buyers on Etsy alone stand at 92 million, a third consecutive all-time high

Active sellers on Etsy alone are now 7 million, the fourth large jump in a row compared to the previous quarter; numbers had been stagnant through the end of 2021 and all of 2022 [Note that “active” means one charge or transaction in the past 12 months; many “active” shops currently have nothing for sale.]

Sales where the buyer and/or the seller was not in the United States were 45%, up from 44% last year, but down from 47% in the previous quarter

Sales on mobile are 68%, up from 67% last year [this includes both the buyer app and mobile browsers]

As always, I am reporting what Etsy’s representatives said in the main text, with my commentary in square brackets.

Etsy Search

At the moment, Etsy’s search algorithms aim to show shoppers things they are most likely to buy. They are currently working on changing that to showing what buyers are most likely to love after the purchase. They refer to items that consistently get high reviews, have good photography, and whose shop owner provides good customer service, has quality return policies and ships on time, as “quality” items, or, “the best stuff.” 

This is all a work in progress, so search may not change drastically any time soon. Past calls and interviews have related this to the increase in Etsy Picks assigned in the past few months; they plan on using those Picks to train the algorithm to find “quality”, especially quality photos. The items staff identify as “quality” convert twice as well as other listings, so there is obvious benefit to Etsy showing them higher up in search results. 

Etsy has added some of the features in its “neural ranking model” to non-US searches; previously it was only in the US searches. 

Advertising

Offsite Ad spending was down 4% in the quarter vs. 2022, in part due to competition bidding higher than Etsy thought was worthwhile. At the time of the call, that spending was back to normal. Per slide 21, money from Offsite Ads fees covered about 35% of what Etsy spent on the ads during the quarter. 

CEO Josh Silverman explained why the performance marketing (Offsite Ads) spend can be unpredictable.

“So performance is dynamic on a, really, hour-to-hour basis depending on the ROI we're seeing on every dollar we're spending. And we've got pretty sophisticated algorithms that work on, is this bid -- is this click worth this much right now and how much should we bid. And so to the extent that CPCs rise, we naturally pull back, or to the extent that CPCs lower, we naturally lean in. The other thing, by the way, it's not just CPCs, it's also conversion rates. So in times when people are really budget constrained, we see them actually -- we see conversion rate across the industry go down. We see people comparison shop a lot more. And so we are looking at all of that. And not humans, but machines using AI are looking at a very sophisticated way of what's happening with conversion rate right now, what's happening with CPCs right now.”

Etsy also does testing twice a year where they stop running ad such as Google Shopping ads in part of the country, and then compare with the areas still advertising to see if the buyer still would have bought. Silverman admitted that the data shows “often the answer may be yes.”

Overall marketing costs went up 7% in the year. 

The Gifting Initiative

Etsy is now aiming to brand itself as the place to go to buy gifts. Gift Mode is just the start of this campaign. Their surveys report that more than half of US gift giving is based on personal occasions that occur year round, such as birthdays, or “just because”. People in the US spend an average of $1600 a year on gifts, but Etsy’s US buyers only average $38 spent per year on gifts from Etsy. They estimate that less than half of Etsy buyers in 2023 used the site to buy at least one gift. There is obviously an opportunity to do better. 

The percentage of US residents thinking of Etsy as a good place to buy a gift is now down to 10%. [Previously, the company reported it was 12%, and I commented last quarter that I’d like to see a more recent survey to judge if they have used this knowledge to improve. 

“Only 12% of buyers will name Etsy top of mind as the place to shop for gifts.” They don’t seem to have any updated numbers showing how they’ve been improving that situation. [It’s time to go after that “enormous opportunity”, Josh!]”

So despite wanting to grab a bigger gifting share before now, Etsy has managed to lose ground. This is my biggest fear about the gift push: the market was there before now, and Etsy’s own research demonstrated that. Are they only going all in now that they have run out of other ideas?] 

There were 6 million visits to Gift Mode in the first 2 weeks. [I am not really impressed, given that they promoted it very heavily, and I was personally responsible for over 100 of those visits while researching my Gift Mode blog post.]

Other plans to bring in buyers

Silverman stated “[o]ur focus will be to make Etsy even more Etsy”, and to differentiate the marketplace from sites that sell everyday needs. The following quote deserves to be read in full:

“Most other players are competing head-to-head to sell the exact same merchandise, focused on selling at $0.02 cheaper or shipping it two hours faster, and this has resulted in the commoditization of the entire experience. But that's just not Etsy.”

[This seemed to be a completely unironically-intended comment, with no recognition of the fact that he actually discussed speeding up shipping times in the same presentation, nor of the well-known fact that so much on Etsy these days can usually be bought cheaper on Aliexpress or Shein.]

He also said that the “special” aspect of Etsy is what sometimes holds the site back, as buyers might consider Etsy limited to specific items, or might “worry about the post-purchase experience”. Bringing people back more often is a goal. [They’ve been saying that for years now, though.]

The company is currently doing buyer loyalty program research, but gave no further details. He also cited “shortening our estimated delivery dates this year by at least 2 days” as something that buyers should like, but it is unclear to me reading this if the work done last year (the year discussed in this call) already shaved 2 days off of delivery dates, or if the statement is this year’s goal. I think it is the latter [but the only ways to do that are to improve the accuracy of their tools - and I am not sure that they are currently 2 days longer than reality on average - or to pressure sellers to ship faster. Since Etsy is once again updating shop settings to add weekends to shop processing times without notifying us, I guess we can assume the latter? UPDATE (Mar 19): Silverman clarified at a recent talk that "we think we can cut shipping times on Etsy by at least two days this year."]

Other things sellers need to know

Etsy Ads now involve some localization outside of the US, which increased conversion rates. [If your ad performance changed in non-US countries during the quarter, this is the most likely reason.]

Neither sales or Etsy’s revenue are expected to increase until the second quarter, and they expect revenue to grow faster than sales this year. [Revenue is almost certain to increase, as the corporation has been surveying sellers on what they would be willing to pay more for.]

“In 2023, we removed approximately 140% more listings for violations of our Handmade Policy than in 2022.” [No word on how many of them were removed erroneously, though, as we know the “Temu” bots pulled a lot of truly handmade items that had photos stolen and listed on other sites.]

Silverman promised “innovation planned to improve the predictability of shipping costs for both buyers and sellers”, but provided no details. [I am not sure what would make my personal costs more predictable, given they change every single week with Canada Post’s fuel surcharge right now. Is it going to be forcing people to use Etsy Labels with calculated shipping? Or is this more calculated shipping options for countries outside of the US, and for new carriers? Restricting the amount a listing can charge for shipping? I really have no idea, but I hope all those people they hired for “fulfillment” jobs a few years back are coming up with something that is actually useful.] 

Miscellaneous

Depop had a decent quarter in sales and revenue. 

Reverb sales were flat. “The Reverb team made some organizational changes late in the year” which are expected to be profitable [i.e., they laid off over 30 people in October].

The Etsy layoffs in December were referred to by CFO Rachel Glaser as “our recent workforce realignment”. [At least she didn’t call those former employees churn.] The call provided no details on the restructuring they previously said would be done by the end of this quarter. 

October sales were not good, but November and December improved. January “was a little bumpy.”

Outside of the US, sales in Germany were mostly steady, while the UK, Netherlands, Switzerland and Austria improved.

The upcoming $15 fee for newly-opened shops will largely go to paying the costs of the technology for vetting sellers; it is not expected to result in much profit. 

My thoughts: this is going to be a rough year for many Etsy sellers

As I discussed last quarter, Etsy’s upper brass didn't seem to think they were responsible for the lackluster sales performance of their marketplace, and this quarter that extended to not admitting they overhired since early 2022, and not acknowledging that Etsy’s reputation as a gift site actually dropped over the past few years. The last one is particularly galling. Why keep talking about how there was great room for improvement in Etsy brand recognition for gift buyers and then fail to improve even a tiny bit? What were these folks doing the past 2 years? 

It’s clear they think bravado will get them through this, including the bold move of claiming everything will improve in the second quarter and throughout the year without revealing any real details. No wonder the stock dropped yet again. 

That said, they likely have some reasons for thinking that revenue will pick up at least, if not sales. As mentioned above, they have been extensively surveying sellers about raising fees and/or charging us for things we currently get for free (or mostly do not want). Possible downsides for Etsy include the fact that the Indie Sellers Guild and the Artisans Cooperative (among others) are likely to get more negative press for Etsy if fees are raised yet again, just as happened in 2022. It does not help that Etsy didn’t really follow through on improved services the last time they raised fees. 

And the more I think about the comment on shipping costs, the more I believe they are considering making Etsy Labels compulsory for at least some in the US, with set shipping charges sellers won’t be able to change. Bonanza did this last year, charging its US sellers $2 per order extra if they didn’t use Bonanza labels and didn’t get an exemption from the program. Most Etsy sellers using the labels and being forced to show that price as the shipping cost for buyers is the only way I can think of making shipping prices more predictable for buyers, other than capping shipping charges outright (and that sounds like a nightmare to implement). eBay does it, though. Am I missing something? [UPDATE Mar. 5, 2024: Etsy is surveying buyers about how much they like cheap shipping.]

Perhaps more importantly, the planned search changes have the potential to disrupt the status quo a great deal. We know that Etsy frequently takes a lot longer to develop these types of technologies than they expect, so it may not happen this year, but the work on promoting “quality” listings will continue, and that is already affecting some shops that used to do better in Etsy search. Do everything you can to make sure your images are "high-quality". If you rely on internal search to get most of your Etsy sales, this is a very good time to follow my usual advice and diversify your traffic sources. 

Etsy’s branding pivot to being the place to get gifts could also have a big impact on some shops and categories, if it is successful - and that is a big “if”. I’m not thoroughly convinced Etsy can manage this change in consumer consciousness, considering that the site’s reputation continues to be hammered by controversies around scams and non-handmade items. Kitkats, anyone? 

Many other comments do not bode well for most shop owners: a continuing push for discounting, emphasis on faster shipping times, and financial restrictions/impositions on “newly-opened” shops all indicate that traffic may flow away from small business owners who choose not to comply, or are unable to comply. 

Last quarter I said “[d]on’t be surprised if there are major site changes in 2024”, and I appear to have been correct. But really, anyone reading these reports over the past few years could have seen it coming.

Stay well informed, everyone! It’s the best weapon we have.

Reminder that you can sign up to receive my Tumblr and website blog posts via email.

UPDATED March 19, 2024

[webcallon]

What is binance and types of trading & how to make money from it

Homecryptocurrency

What is binance and types of trading & how to make money from it

bywebcallon-March 09, 2023

0

 what is binance

Binance is a global cryptocurrency exchange that was founded in 2017 by Changpeng Zhao, a former software developer at Bloomberg Tradebook. It has quickly become one of the most popular exchanges in the world due to its wide range of features and user-friendly interface. Binance is headquartered in Malta and has offices in various countries around the world.

One of the key features of Binance is its vast selection of cryptocurrencies. It currently supports over 500 different coins and tokens, making it one of the most comprehensive exchanges in the market. This allows users to access a wide range of investment opportunities and diversify their portfolio across different cryptocurrencies.

Binance also offers a variety of trading options, including spot trading, margin trading, and futures trading. Spot trading involves buying and selling cryptocurrencies for immediate delivery, while margin trading allows users to trade with borrowed funds, giving them the opportunity to increase their profits or losses. Futures trading involves trading contracts that allow traders to speculate on the price of a cryptocurrency at a future date.

In addition to trading, Binance offers a range of other services, including staking, savings, and lending. Staking involves holding cryptocurrencies in a wallet to support the network and earn rewards. Savings allows users to earn interest on their cryptocurrency holdings, while lending allows them to earn interest by lending their cryptocurrency to other users.

Binance also has its own cryptocurrency, Binance Coin (BNB), which can be used to pay for trading fees on the platform. BNB has become one of the most popular cryptocurrencies in the market, with a market capitalization of over $40 billion.

One of the key strengths of Binance is its security measures. The platform uses a variety of security features to protect user funds, including two-factor authentication, SSL encryption, and cold storage. Binance also has a Secure Asset Fund for Users (SAFU) that provides an extra layer of protection in case of security breaches or other unexpected events.

Another advantage of Binance is its user-friendly interface. The platform is designed to be easy to use, even for beginners, and offers a range of educational resources to help users learn about cryptocurrencies and trading. Binance also has a mobile app that allows users to trade and manage their portfolio on the go.

Despite its many strengths, Binance has faced some challenges in recent years. In 2019, the platform suffered a security breach that resulted in the theft of over $40 million worth of cryptocurrency. Binance responded quickly to the breach and was able to recover the stolen funds, but it highlighted the need for strong security measures in the cryptocurrency industry.

Binance has also faced regulatory scrutiny in some countries, including the United States and Japan. In 2021, the Financial Conduct Authority (FCA) in the UK banned Binance from operating in the country, citing concerns about its compliance with anti-money laundering (AML) regulations. Binance has since made efforts to improve its AML policies and has been working to address regulatory concerns in other countries.

In conclusion, Binance is a comprehensive and user-friendly cryptocurrency exchange that offers a wide range of trading options and services. Its vast selection of cryptocurrencies, security measures, and educational resources make it an attractive choice for both beginner and experienced traders. However, like any cryptocurrency exchange, it also faces challenges and risks, including security breaches and regulatory scrutiny. As with any investment, it is important for users to do their own research and carefully consider the risks before investing in cryptocurrencies.

Binance has grown rapidly since its launch in 2017 and has become one of the largest cryptocurrency exchanges in the world. According to CoinMarketCap, Binance is currently ranked as the 4th largest exchange by trading volume, with a 24-hour trading volume of over $12 billion at the time of writing.

Binance has also expanded its offerings beyond just cryptocurrency trading. In 2020, the exchange launched Binance Card, a debit card that allows users to spend their cryptocurrency holdings at merchants that accept Visa. Binance has also launched its own blockchain, Binance Chain, which is designed to facilitate the issuance and trading of digital assets.

Binance has also been active in the cryptocurrency industry through its various initiatives and investments. In 2019, the exchange launched Binance Labs, a blockchain incubator that invests in early-stage blockchain projects. Binance has also invested in other blockchain companies and projects, including Polkadot, Terra, and Oasis Labs.

Another notable feature of Binance is its customer support. The platform offers 24/7 customer support via live chat, email, and social media, which has earned it a reputation for being responsive and helpful. Binance also has a large community of users and supporters, with over 3 million followers on Twitter and over 2 million members in its official Telegram group.

In terms of fees, Binance is known for having some of the lowest trading fees in the industry. The platform charges a flat fee of 0.1% for spot trading and 0.04% for futures trading, with further discounts available for users who hold BNB. Binance also has a referral program that allows users to earn commission by referring new users to the platform.

Overall, Binance is a popular and well-established cryptocurrency exchange that offers a wide range of features and services for traders and investors. While it faces some challenges and risks, it has demonstrated a commitment to security, innovation, and customer support that has earned it a loyal following in the cryptocurrency community.

Binance has a strong focus on innovation and has been at the forefront of developing new products and features in the cryptocurrency space. In 2020, the exchange launched Binance Smart Chain, a blockchain platform that enables the creation of decentralized applications (dApps) and the execution of smart contracts. Binance Smart Chain has gained significant traction in the decentralized finance (DeFi) space, with a growing number of dApps being built on the platform.

Binance has also been active in the crypto lending space. In 2019, the exchange launched Binance Lending, a platform that allows users to lend their cryptocurrency holdings to other users and earn interest. Binance Lending has since expanded to offer a range of lending products, including flexible and fixed-term loans.

In addition to its lending platform, Binance has also launched a peer-to-peer (P2P) trading platform. P2P trading allows users to buy and sell cryptocurrencies directly with each other, without the need for a centralized exchange. This can be particularly useful in countries where cryptocurrency exchanges are restricted or banned.

Binance has also been actively involved in promoting cryptocurrency adoption and education. The exchange has launched a range of educational resources, including articles, videos, and webinars, to help users learn about cryptocurrencies and blockchain technology. Binance has also launched several initiatives aimed at promoting cryptocurrency adoption, such as the Binance Charity Foundation, which uses blockchain technology to facilitate charitable donations.

One area where Binance has faced criticism is in its listing process for new cryptocurrencies. Some critics have accused the exchange of prioritizing profit over due diligence, leading to the listing of some questionable cryptocurrencies. Binance has responded by implementing stricter listing requirements and conducting more thorough due diligence on new listings.

Overall, Binance is a dynamic and innovative cryptocurrency exchange that has become a major player in the industry. While it faces some challenges and criticisms, it has demonstrated a commitment to security, innovation, and customer support that has helped it attract a large and loyal user base.

Binance has a user-friendly interface that is easy to navigate, making it an attractive option for both novice and experienced traders. The platform also offers a range of advanced trading tools, such as advanced charting, technical analysis, and trading indicators. These tools allow traders to conduct detailed analysis and make informed trading decisions.

Binance also offers a range of order types, including limit orders, market orders, stop-limit orders, and trailing stop orders. These order types allow traders to execute their trades with greater precision and control.

Another feature of Binance is its margin trading platform. Margin trading allows users to trade with borrowed funds, enabling them to increase their potential profits (as well as their potential losses). Binance offers up to 125x leverage on select cryptocurrencies, which can be particularly attractive to experienced traders.

Binance also offers a range of security features to protect its users' funds and personal information. These include two-factor authentication (2FA), anti-phishing measures, and SSL encryption. Binance also has a Secure Asset Fund for Users (SAFU) that acts as an emergency insurance fund in the event of a security breach or hack.

Finally, Binance has a wide range of supported cryptocurrencies, including many of the most popular cryptocurrencies such as Bitcoin, Ethereum, and Litecoin, as well as a range of smaller and emerging cryptocurrencies. This makes it a one-stop-shop for users who want to trade a variety of cryptocurrencies on a single platform.

Overall, Binance offers a wide range of features and services that make it a popular and well-regarded cryptocurrency exchange. While it is not without its challenges and criticisms, it has demonstrated a commitment to innovation, security, and customer support that has helped it become a major player in the industry.

Types of trading in binance

Binance offers several types of trading for its users, including:

Spot Trading: This is the most common type of trading on Binance. In spot trading, users buy and sell cryptocurrencies at the current market price. The user's order is matched with an existing order on the exchange's order book.

Margin Trading: Binance offers margin trading, which allows users to trade with borrowed funds. This means users can increase their profits (as well as their losses) by trading with leverage. Binance offers up to 125x leverage on select cryptocurrencies.

Futures Trading: Binance also offers futures trading, which allows users to trade cryptocurrencies at a predetermined price at a future date. This type of trading is typically used by more experienced traders who want to hedge against price fluctuations.

Options Trading: Binance also offers options trading, which allows users to buy and sell options contracts based on the price of an underlying cryptocurrency. Options trading can be used for hedging, speculation, or generating income.

OTC Trading: Binance also offers over-the-counter (OTC) trading for large volume trades. This type of trading is typically used by institutional investors or high-net-worth individuals who want to avoid affecting the market price of a cryptocurrency.

Leveraged Tokens: Binance offers leveraged tokens that allow users to gain exposure to the price movements of cryptocurrencies without having to manage their own leveraged positions. Leveraged tokens can be bought and sold on Binance like any other cryptocurrency.

Staking: Binance offers staking services for select cryptocurrencies. Staking involves holding a certain cryptocurrency in a wallet for a certain period of time to earn rewards. Binance offers staking rewards to users who hold certain cryptocurrencies on the exchange.

Binance Launchpad: Binance Launchpad is a platform that allows users to participate in initial coin offerings (ICOs) and other token sales. Binance Launchpad offers users the opportunity to invest in promising new blockchain projects before they are available on other exchanges.

Binance Savings: Binance Savings allows users to earn interest on their cryptocurrency holdings. Users can deposit their cryptocurrencies into Binance Savings and earn interest on a daily, weekly, or monthly basis.

Binance Pool: Binance Pool is a mining pool that allows users to mine cryptocurrencies and earn rewards. Binance Pool supports several cryptocurrencies, including Bitcoin and Ethereum.

Overall, Binance offers a wide range of trading options and services that cater to the needs of different users. Whether you're interested in spot trading, margin trading, futures trading, options trading, or staking, you can find a trading type that suits your needs on Binance.

how to make money from binance

There are several ways to make money from Binance. Here are some strategies that you can consider:

Trading: Trading cryptocurrencies on Binance can be a profitable way to make money. You can buy low and sell high to make a profit. Binance offers a wide range of trading types, including spot trading, margin trading, and futures trading, which can help you maximize your profits.

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[allthebrazilianpolitics]

São Paulo launches its own app to compete with Uber

Today, the city of São Paulo launched MobizapSP, an app-based ride-hailing service that will compete directly with Uber, Didi Chuxing’s 99, and other platforms. The launch is one of the outcomes of a 2021 inquiry in the state legislature.

The platform was developed for the local government by CSX Inovação, and operates “fairer rates” for partner drivers, according to the city’s mobility and traffic secretary, Ricardo Teixeira.

MobizapSP will not have any dynamic pricing, making it clearer to drivers what they will earn.

Continue reading.

[knowledgeworld123]

Union Budget 2025: Key Details and Expectations

Union Budget 2025, much-awaited by all, is to be presented by Finance Minister Nirmala Sitharaman on Saturday, February 1, 2025. It would be her eighth successive budget and the second full financial budget under the National Democratic Alliance (NDA) government of Prime Minister Narendra Modi in its third term. The budget is to be paperless as this is the continuation of the digital-first approach since 2021.

What is Union Budget?

The Union Budget is the yearly statement of finances of the government where proposed expenditure and revenues of the next financial year, as arranged from April 1 to March 31 are presented. Starting from 2019, all the important policies on the country's economy, fiscal, and spending have all been brought into one single paper, called "bahi-khata."

When and Where to Watch Union Budget 2025

The budget presentation begins at 11 a.m. in Lok Sabha. People can catch the live telecast through official channels of Parliament, Doordarshan, and Sansad TV. Apart from that, government YouTube channels and news sites such as Livemint.com are offering full coverage of the speech through live updates and comprehensive analysis.

The budget documents will be available in digital form on the official portal of the Union government, www.indiabudget.gov.in, and also through the Union Budget Mobile App. Both Hindi and English will be used for broader accessibility.

The Tradition of the Halwa Ceremony

Another notable tradition in the run-up to the budget presentation is the Halwa Ceremony, which dates back to the 1980s. This tradition primarily symbolizes that the budget documents have been finalized and that the Finance Minister and other officials have participated in the preparation process.

Market and Economic Context

It offers a budget at a time when the outlook for Indian stock markets is cautiously optimistic. A research agency, Emkay Global, predicts a long-term upside of 8% in Nifty's index even as short-term vulnerabilities of FPI selling and weak earning support persist. The Nifty 50 had one more day of losses on January 27, 2025, with the index losing 0.49 per cent and the BSE Sensex shedding 0.43 per cent. Other major midcap and small-cap indices also saw big losses, indicating a general pressure from the markets. Emkay Global feels the government would look for fiscal consolidation by balancing the growth trade-offs. There may also be an agenda that includes agriculture as it is seen to witness investment in high-yielding and climate-resilient seeds. Changes and Innovations in the Budget Process

The budgetary process for Modi has been experiencing reforms over the years. The recent major changes are as follows:

Rail Budget merged with the General Budget in 2017.

Increase date for Budget Presentation to Feb 1st.

Implement budget presentation on a paperless form from 2021 onwards.

Union Budget 2025: Here is what Expectations Are.

Feb 1 shall throw open some important announcements. In general terms, it should come through with these schemes in expectation such as:, Reforms at income tax level as well on GST tax slabs. Welfare programs based upon Healthcare, educational sector and villages developmental. Increased Infrastructure, agricultural setup, and Climate-resistant planning.   Digital Accessibility: Continuation of efforts to improve access to government services through technology.   Conclusion

The Union Budget 2025 is expected to be an important financial road map for India's future, focusing on both economic challenges and opportunities. The focus on fiscal consolidation, innovation, and growth would be the basis of the announcements on February 1, providing key insights into the government's priorities for the next fiscal year. www.knowledgeworld.com and other platforms will be providing live updates and detailed analyses on the implications of the budget for various sectors and stakeholders.

[garryongrowth]

Rajat Khare in Empowering Startups Like Scewo to Revolutionize Mobility

Globally, over 20 million people report mobility difficulties annually, with individuals aged 59 to 67 being the most affected. However, these challenges are not exclusive to older adults, as young individuals also face significant barriers in transportation and accessibility. Among these, staircases present one of the most formidable obstacles for wheelchair users, often limiting their participation in various events and social activities.

Addressing this issue with groundbreaking innovation, Swiss startup Scewo has introduced the Scewo BRO, a revolutionary power wheelchair designed to climb stairs. By combining cutting-edge technology and sophisticated design, Scewo BRO has become a beacon of hope for individuals with mobility disabilities, earning numerous accolades and attracting users across Germany, Austria, Switzerland, and beyond. Scewo BRO is not just a product but a transformative solution. Supported by investors like Rajat Khare, it empowers individuals with reduced mobility to live independently and flexibly.

Pioneering Innovation with Scewo BRO

Scewo BRO stands out as the only power wheelchair globally that integrates two-wheel drive with stair-climbing capabilities. This remarkable feature is complemented by sensors that measure the environment and detect staircase edges, ensuring safety and efficiency. Users can control the wheelchair through the BRO-App on a smartphone or via an attachable control panel. Additionally, the device is equipped with a hand joystick for navigating direction and speed, making it highly adaptable to diverse needs.

The wheelchair offers a maximum speed of 10 km per hour and boasts a durable battery with over 1,000 charging cycles. An ever-growing range of accessories further enhances its functionality, while regular software updates continually improve its intelligence and usability.

Scewo’s Vision and Growth

Scewo was established in 2014 by Bernhard Winter and Pascal Buholzer, who brought their vision to life in just three years. Their exceptional innovation has earned the company numerous awards, including the prestigious Swiss Medtech Award 2021. In addition to its technological edge, the Scewo BRO prioritizes user comfort with customizable seating and a sleek, modern design.

The startup’s success extends to its funding achievements. Between July and November 2021, Scewo raised CHF 11.5 million in a Series A funding round to fuel growth and international expansion. This round saw participation from prominent investors, including Verve Ventures, Boundary Holding, led by Rajat Khare, and three private investors. Rajat Khare was particularly impressed by the founders’ vision and passion, which resonated deeply with his own values in supporting transformative technologies.

Expanding Horizons

Commenting on Scewo’s growth, co-founder Bernhard Winter highlighted the overwhelming interest from customers and the company’s plans to collaborate with strategically located distribution partners. This approach aims to provide local test drives and enhance customer service.

With its unique combination of advanced technology, user-friendly features, and unwavering commitment to innovation, Scewo BRO is not just a product but a transformative solution that empowers individuals with reduced mobility to live independently and flexibly.

[rugrofficial]

Which Fintech Companies Are Most Successful in Rural India?

In the past few years, the field of fintech has risen as a revolutionary force in rural India, catering to the unique financial demands of farmers and rural communities. With an emphasis on increasing financial inclusion, some fintech startups have successfully built agricultural-specific products. This article examines some of the most successful fintech companies working in rural India, focusing on their contributions to agricultural loans in rural, crop insurance, and overall rural development.

1. Rugr: Empowering Farmers with Tailored Financial Solutions

Rugr stands out as a prominent player in the rural fintech landscape, providing essential agricultural loans in rural areas. By leveraging mobile banking in rural Bharat, Rugr simplifies the loan application process, enabling farmers to access funds directly from their smartphones. This convenience is crucial for farmers who often face challenges related to distance and accessibility to traditional banking services.

Rugr also provides crop insurance online in rural areas, allowing farmers to protect their investments from unforeseen risks like as natural disasters. This holistic strategy not only helps farmers manage their financial risks, but it also promotes sustainable farming practices. Rugr's loan and insurance services enable farmers to make informed decisions that boost production and economic stability.

2. Jai Kisan: Bridging the Credit Gap

Jai Kisan, a fintech firm based in Mumbai, was founded in 2017 with the goal of bringing financial inclusion to rural populations. The platform provides digital financial services especially to farmers and small enterprises involved in agriculture. Jai Kisan provides agricultural loans for income-generating activities, ensuring that farmers have access to the capital they require for growth. 

Jai Kisan has established a solid ecosystem that helps over 150,000 rural clients through collaboration with over 700 organized and unorganized institutions. In May 2021, the firm raised $30 million in Series A funding, establishing its status as a major player in rural fintech.

3. Hesa: Transforming Rural Commerce

Hesa is a cutting-edge agri-fintech firm that uses both digital and physical ways to empower farmers. The website connects farmers to merchants and enterprises, increasing their earning potential by up to 20%. Hesa provides access to financial services, market linkages, and e-commerce solutions tailored for rural communities.

By leveraging a vast network of village-level entrepreneurs known as Hesaathis, Hesa facilitates transactions and helps farmers digitally trade their produce. This model not only improves financial access but also enhances market transparency and efficiency, driving economic growth in rural areas.

4. BankSathi: Facilitating Financial Literacy

BankSathi is a social commerce fintech platform that aims to increase financial literacy among rural populations. BankSathi enables people to make informed financial decisions by making banking services and educational resources easily accessible. Farmers can apply for Kisan Credit Cards (KCC) through the platform's app, which streamlines the loan application procedure.

BankSathi simplifies the KCC application process and provides support through business correspondents, allowing even non-technical users to access official banking services. This focus on education and accessibility is crucial for promoting financial inclusion in underserved areas.

5. Aggois: Affordable Financing for Farmers

Aggois is another agri-fintech startup dedicated to providing affordable financing solutions for farmers throughout India. The platform offers hassle-free loans with transparent terms designed specifically for agricultural needs. Aggois assures that even persons with no formal credit history can obtain funding by using technology to assess creditworthiness based on alternative data sources.

The company's commitment to transparency and affordability makes it an appealing choice for farmers looking for dependable financial support.

Conclusion

The achievement of these new fintech companies demonstrates how technology has the ability to alter rural finance in India. These companies are leading the path for greater financial inclusion and economic empowerment by tackling the unique difficulties that farmers experience, such as limited access to finance, a lack of financial awareness, and inadequate insurance alternatives.

Rugr stands out for its complete strategy for agricultural loans and crop insurance, while other firms like as Jai Kisan, Hesa, BankSathi, and Aggois make major contributions to closing the credit gap and increasing market access for rural areas. As these fintech solutions mature and spread, they will play an important role in promoting sustainable farming practices and driving growth in India's rural economy.

To summarize, the combination between technology and agriculture through these successful fintech startups is not only transforming access to financial services, but also increasing farmer resilience in rural India. With continued improvements in mobile banking and digital finance, the future appears bright for both the agricultural sector and rural populations in general.

[infowindtech57]

How To Start Earning On Social Media App Like Instagram And TikTok

Social media sites like Instagram and TikTok are no longer just for sharing memories and interacting with friends. They have developed into profitable areas where both people and companies may generate a consistent income. Through influencer collaborations, affiliate marketing, or the sale of digital goods, these platforms give social media app developers countless chances to make money off of your presence.

These applications offer a huge audience ready to interact with imaginative and captivating material, as they have billions of active users. However, it takes strategy, consistency, and knowledge of what works for each platform to turn social media participation into revenue.

This blog explores practical advice to help you begin making money on social media. We’ll look at efficient strategies catered to platforms like Instagram and TikTok, whether you’re a brand trying to reach a wider audience or a budding content producer. Prepare to make your time on social media a lucrative business endeavor.

Importance Of TikTok And Instagram To Make Revenue

Social media platforms serve as vital resources for individuals and businesses. These platforms offer various ways to generate income. These social media behemoths are strong marketplaces and branding tools that offer more than simply amusement. Unmatched earning prospects are offered by their enormous user populations, creative content forms, and integrated monetization capabilities. 

They provide businesses with affordable channels to engage with specific audiences and promote items. For individuals, they pave the way to income streams through creative content. Let’s explore why these platforms are vital for revenue generation.

1. Massive User Base and Engagement

TikTok and Instagram attract millions of daily active users globally, providing unparalleled reach. This vast audience ensures exposure for content creators and businesses alike. High engagement rates on these platforms mean better chances for your posts, videos, or ads to drive traffic and conversions. Social media app developers optimize algorithms to prioritize engaging content, further boosting visibility and reach.

2. Innovative Content Formats

TikTok’s short-form videos and Instagram’s reels, stories, and posts cater to evolving consumer preferences. These creative formats enhance storytelling and make promotional content more interactive. Businesses can utilize these features to create appealing campaigns, while creators can connect authentically with followers. Through mobile app development, these platforms continuously introduce advanced features, such as AR filters and live shopping, which increase monetization potential.

3. Built-in Monetization Tools

Both platforms offer creator-centric monetization features. TikTok enables earnings through Creator Fund, live gifts, and brand collaborations, while Instagram supports income through affiliate marketing, sponsored posts, and shopping features. The integration of these tools simplifies the revenue process, allowing anyone with creativity and a strategy to benefit. These technologies are now easy to use thanks to mobile app developers, enabling producers with little technical knowledge.

4. Direct-to-Consumer Marketing

Businesses may effectively engage with their target audience on TikTok and Instagram. They are in favor of corporate practices that sell products and services directly to consumers. Social media app development is essential for new businesses or brands to create apps that work well with various platforms and facilitate efficient sales procedures.

You can take advantage of TikTok and Instagram’s enormous potential to create steady income by using them strategically. These platforms are essential for attaining financial success, regardless of whether you are a business owner or a creator.

Statistics That You Need To Know

1. Instagram’s Surge in Sponsored Posts

In 2021, Instagram saw 3.8 million posts globally with the #ad hashtag. This marked a significant rise in ad content. It was a 27% increase from the 3 million sponsored posts of the previous year. This surge highlights Instagram’s key role in digital advertising. It has become a major influencer marketing platform. Social media developers continue to enhance these features. Their goal is to help influencers and brands reach a larger audience. This also boosts overall engagement on the platform.

2. Cost of Sponsored YouTube Videos

YouTube continues to be a significant force in the influencer market. It has films that have received over a million views. The average minimum sponsorship fee is $2,500. In 2022, videos with 500,000–1 million views sold for at least $1,105. These videos could cost as much as $16,234. YouTube is a potent source of income for creators because of the pricing variance that is impacted by elements like content quality and creator involvement. A dedicated software developer can help integrate effective marketing tools into video platforms to capitalize on these sponsorship opportunities.

3. Cost of Sponsored Instagram Posts

In 2021, Instagram sponsored posts typically cost at least $1,200. This price allowed influencers with millions of followers to earn money from their large fan base. As a result, influencers with substantial reach could monetize their content effectively. On the other hand, macro-influencers, those with 100,000 to 1 million followers, earned an average of $185 per post. Businesses and creators are discovering new ways to make money on Instagram as its shopping and advertising capabilities develop. Influencers now find it simpler to monetize their material thanks to these developments.

4. Cost of Sponsored TikTok Posts

Mega-influencers on TikTok have significant income potential. Influencers that have a million or more followers can make a lot of money. Typically, they charge at least $1,034 per sponsored post. The minimum price drops to $151 for people with a smaller but still substantial following (100,000 to 1 million), with a maximum possible of $793. TikTok’s quick expansion is creating new revenue streams, which makes it a desirable platform for influencers and companies to investigate.

These figures demonstrate the strong commercial potential of social media platforms, demonstrating that sites like YouTube, Instagram, and TikTok are not only for amusement but also for significant income production. A dedicated software developer can enhance your ability to track and optimize these monetization opportunities, ensuring a profitable social media strategy.

What’s TikTok and Instagram Technology Stack

Social media platforms have also transformed how we make money off content. These platforms rely on an advanced technology stack to support their enormous user bases. The technology ensures smooth and seamless user experiences. Modern technology powers every element of TikTok and Instagram, from the user interface to the content algorithms. The main technology underlying these well-known social media apps are broken down as follows:

1. Programming Languages

Instagram and TikTok use several programming languages to build their products. These languages ensure scalable performance. By leveraging these technologies, both platforms are able to meet the demands of millions of users.

Python is the primary language used by Instagram for backend development. It is preferred for its ease of use and adaptability. Python excels, particularly when managing massive amounts of data. To speed up development, Instagram also uses Django. It helps streamline backend processes.

To ensure smooth operation across devices, TikTok’s mobile app development uses Java for Android and Swift for iOS. In contrast, the company employs Python for data analysis and machine learning features.

2. Data Storage and Databases

With billions of users and immense amounts of data generated daily, TikTok and Instagram use robust data storage solutions to manage this influx.

Instagram relies on PostgreSQL for relational database management and uses Cassandra for handling large-scale distributed data. This ensures fast and reliable storage, which is crucial for processing photos, videos, and user interactions in real time.

TikTok employs MySQL and Redis to store data efficiently. It also uses HBase for big data management, providing scalability to handle high traffic during peak times.

3. Machine Learning and AI Algorithms

From facial recognition and filtering to content suggestions, machine learning and artificial intelligence algorithms are essential for improving user experiences.

Instagram recommends posts using machine learning algorithms that take into account user likes and behavior. Instagram’s AI-driven systems analyze user engagement trends. This helps provide the most relevant content to users. By understanding these patterns, Instagram keeps users interested.

The AI-powered recommendation engine on TikTok customizes content feeds according to watch duration, user interactions, and other metrics. In order to recommend pertinent videos, the engine learns from each user’s actions. Deep learning methods enhance the platform’s capabilities.

4. Cloud Infrastructure and CDN

Cloud infrastructure is essential to both platforms’ success because of their enormous scale, particularly for scalability and content delivery.

Amazon Web Services (AWS) helps Instagram with cloud hosting and storage. This enables Instagram to handle traffic spikes. AWS ensures consistent performance, even during high traffic periods.

TikTok relies on AWS and Google Cloud Platform (GCP) for scalable cloud infrastructure. These platforms ensure high performance and flexibility. Additionally, TikTok utilizes a content delivery network (CDN). The CDN guarantees seamless and fast video streaming. 

5. Video Editing and Streaming Technologies

TikTok and Instagram rely heavily on video content. This makes it essential for them to have robust streaming tools. They also need powerful video editing tools to maintain performance. These tools ensure that high-quality content is delivered smoothly. 

Instagram handles video encoding, streaming, and playback. It uses FFmpeg for encoding and processing video files. For streaming, Instagram relies on HLS (HTTP Live Streaming). These technologies guarantee that films are customized for a range of devices and delivered with the least amount of lag.

TikTok uses FFmpeg as well for video compression and streaming. Its advanced video editing features are powered by OpenGL ES and Vulkan for high-performance graphics rendering, making it easier for users to create and share engaging content.

6. Security and Privacy

Both platforms invest heavily in security to protect user data and maintain trust.

Instagram implements industry-standard OAuth for user authentication and uses SSL/TLS encryption for data transmission to protect user privacy.

Similar security measures and sophisticated user verification methods are used by TikTok to protect user data. Its AI-powered security technologies also continuously scan for unusual activity.

TikTok and Instagram are both still developing, pushing the limits of digital content consumption and mobile app development. These platforms’ advanced technology stacks guarantee that they support content creators in making money off of their work in addition to offering captivating user experiences. A dedicated software developer with experience in mobile app development may assist you in integrating these technologies to achieve your business objectives if you’re trying to create an app with comparable features.

The Significance of Earning Money on Social Media

Social media networks, which provide inexpensive avenues for self-promotion, have completely transformed small business marketing.They assist small businesses develop their brands in addition to offering affordable marketing. They enable companies to communicate with clients directly, improving their comprehension of their requirements. This interaction helps increase website traffic and customer loyalty. Platforms like Facebook, Instagram, and X offer valuable metrics to help businesses understand their audience. These insights allow companies to tailor their products to meet customer demands more effectively.

By making money from social media, small businesses can expand their revenue sources beyond conventional means. By employing strategies like sponsored content, affiliate marketing, and direct product sales on social media, businesses may profit from a sizable consumer base. This contemporary method of generating income creates new opportunities for expansion in the online market that are not constrained by a physical store’s location.

The Tried-and-True Strategies to Make Money on Social Media

Examples of social media sites that have evolved over time are Instagram and TikTok. They are now flourishing ecosystems for making money. These sites are no longer just places for people to socialize. Instead, they offer vast opportunities for generating revenue. You can establish a steady revenue stream by carefully utilizing tools and methods that complement your specialty. 

Here are eight effective strategies to monetize your social media, backed by insights that can help you optimize your approach and maximize earnings.

1. Find and Define Your Niche

For social media monetization to be effective, picking a niche is crucial. As a social media app developer, you can produce content that directly addresses the needs of a certain group by concentrating on a small target audience. You can strengthen relationships and draw in advertisers that are prepared to pay for access to your highly targeted audience by cultivating a community of active followers.

2. Optimize Your Social Media Profiles for Growth

To effectively monetize social media, it’s crucial to optimize your profiles. This means using relevant profile images, writing clear bios, and ensuring your niche is evident. Regularly posting content tailored to your audience’s interests is vital. Additionally, as a mobile app development expert, you can monitor analytics to refine your approach and adjust content types and posting times for maximum engagement.

3. Produce Engaging, Value-Driven Content

A key component of social media success is excellent content. Be it conversational, instructional, or humorous, your material must resonate with your audience. To achieve this, maintain a balanced mix of content. The 60/30/10 rule is one useful strategy. According to this guideline, 60% of your material should be interesting or entertaining.  You can use your experience as a dedicated software developer or mobile app developer to produce valuable content that organically incorporates your services or goods.

4. Collaborate with Brands on Sponsored Content

Promoting content on social media is a tried-and-true method of making money. This content is then shared with a broad audience, increasing visibility. For both companies and influencers, reaching out directly to brands can be a good approach. Alternatively, forming partnerships through platforms like Instagram’s Creator Marketplace can also be effective. Sponsored videos or posts can complement your content while boosting your revenue.

5. Use Affiliate Marketing to Generate Passive Revenue

By promoting products from third parties, affiliate marketing enables you to earn money. When customers make purchases using your links, you get paid. You can earn money each time a follower makes a purchase by including affiliate links or codes in your posts. Collaborate with companies and goods that fit your specialization for the best results. 

6. Develop and Market Online Courses to Inform Your Audience

Selling online courses has grown in popularity as a means of earning money on social media sites like Instagram and TikTok. As creators discover new ways to make money off of their skills, this trend has accelerated. You can produce educational content if you are an authority in a particular topic. Once the video is produced, share it on social media platforms to expand your reach. This approach helps connect with a broader audience effectively. Additionally, you can market your courses globally through platforms like Teachable, Skillshare, and Udemy. These services also help you build your own personal brand.

7. Sell Digital Products to Your Social Media Followers

Digital goods sales are another successful monetization approach. Digital products, such as unique fitness regimens, downloadable templates, or e-books, can offer a reliable source of revenue. As a company or content creator, you can create goods that appeal to the interests of your target market. Digital products are particularly useful since, once generated, they require no upkeep and provide a steady flow of passive income.

8. Host Events to Generate Revenue and Engage Your Community

Organizing events is a fun way to make money on social media. Followers can purchase exclusive access to online classes, webinars, or virtual meetups that you host. In addition to increasing your revenue, this tactic strengthens your ties to the community. Whether through subscriptions, contributions, or ticket sales, holding events can generate recurring income while providing your audience with insightful material.

These tactics provide a range of approaches to monetize your social media presence. Using your skills as a dedicated software developer or mobile app development professional, you can produce content for Instagram and TikTok that gains fans, establishes credibility, and brings in money.

Costs Of Monetizing Social Media Platforms

The following table highlights essential statistics for earning on social media platforms like Instagram, TikTok, and YouTube. These figures emphasize the growing significance of sponsored content, influencer marketing, and monetization opportunities available for creators and businesses alike.PlatformContent TypeFollowers RangeEarnings Per Sponsored PostInstagramSponsored Posts100,000–1,000,000$185 (average)1,000,000+$1,200+TikTokSponsored Posts100,000–1,000,000$151–$7931,000,000+$1,034+YouTubeSponsored Posts500,000–1,000,000 views$1,105–$16,2341,000,000+ views$2,500+ (minimum)

These numbers underline the growing profitability of social media platforms. Businesses and creators alike are capitalizing on these opportunities, making platforms like Instagram, TikTok, and YouTube not just for entertainment but also significant revenue drivers.

Conclusion

To sum up, social media has proven to be an effective revenue-generating medium that presents a plethora of options for both businesses and creators. Many people have demonstrated that significant incomes may be made through strategies including sponsored posts, affiliate marketing, and the sale of digital goods, even if not everyone will be able to match the size of top influencers. 

Monetizing a social network account requires time and perseverance. It also demands a thorough understanding of your audience. However, the opportunity to earn money online is substantial. This potential is available to those willing to invest the necessary time and effort. Anyone can turn their social media presence into a profitable business with the correct tactics. The secret to long-term success is dedication to these tactics. By focusing on your audience and staying dedicated, you can build a sustainable income.

[gadgetsboy]

Spotify's continued evolution as one of the leading music streaming platforms over the years has remained nothing short of impressive, and the platform announced some incoming changes during its recent Now Playing event held in Los Angeles. A good chunk of the event revolved around the platform's efforts towards the continued expansion of podcast content, which has grown considerably over the years. CHECK OUT: Bowers & Wilkins Pi8 Earbuds: Worth the Asking Price? Spotify also highlighted changes that are aimed at helping creators grow their audience, as well as better monetizing their video podcasts. Speaking of which, Spotify says that audiences are watching more and more video podcasts on Spotify, with more than 250 million users having streamed a video podcast on the app. More creators are also publishing monthly content on Spotify, as the platform continues to expand its content offerings beyond music and audio streaming. Starting in January, Spotify Premium subscribers in the US, UK, Australia, and Canada will be able to tune into their favourite podcasts without dynamic ads getting in the way. Likewise in January, Spotify's new Partner Program will give eligible creators access to an improved monetization system, which comes with two key components in the form of "Premium Video Revenue" and Ads. With Premium Video Revenue, creators in the US, UK, Canada, and Australia can earn revenue based on video consumption from Spotify Premium subscribers (also starting in January). For ads, creators enrolled under the program will be able to earn a share of revenue via monetized dynamic ads that play on their episodes. © Leon Bennett/Getty Images for Spotify For "Spotify for Podcasters", Spotify says that it's making some updates to improve creators with a more "expansive and streamlined platform" - this includes a new mobile app experience, improved analytics, customization tools for shows, turnkey audio and video distribution, and new features for better interactivity between creators and fans. Eligible creators will also be able to post short-form, vertical Podcast clips to promote their episodes, with support for custom thumbnails as well. Spotify adds that it's making it easier for fans to stream their shows in the background for an uninterrupted experience, and this will be available for both premium and free Spotify listeners. Users will also be able to conveniently switch between video and audio when listening to their video podcasts. Spotify's podcast offerings have rapidly evolving over the years, with over 170 million users now consuming podcasts on the platform. The platform now hosts over 300,000 video podcast shows, and user preference for video podcasts has increased significantly, from 43% in 2021 to over 64% in 2024. Interestingly, Premium subscribers listen more than twice as much as ad-supported users, and overall listening time has increased from 30 hours per month in 2020 to around 40 hours per month today, with younger subscribers spending even more time on the platform. Read the full article

[green-for-the-win123]

Digital Wallets, Real Threats: The Dark Side of Mobile Payments in India

Imagine paying for your chai with a simple tap of your phone. Convenient, right? Now imagine that same tap exposing your entire financial history. Welcome to the world of mobile payment privacy breaches – the hidden cost of digital convenience in India's booming fintech landscape.

Why I'm Losing Sleep Over This

As a digital innovation enthusiast, I'm both excited and concerned about India's mobile payment revolution. It's democratizing finance and driving financial inclusion, but it's also creating a treasure trove of sensitive data that's catching the eye of cybercriminals. It's like carrying your entire bank in your pocket – convenient, but oh so risky!

The Mobile Money Tsunami

India's love affair with mobile payments is reaching fever pitch:

Digital payments in India hit 8,840 crore transactions in FY 2021-22 (RBI, 2022).

UPI transactions alone crossed 9.36 billion in volume and ₹10.25 trillion in value in May 2023 (NPCI, 2023).

That's a lot of digital money changing hands – and a lot of data up for grabs!

The Sneaky Ways Your Transactions Betray You

How are these seemingly secure apps leaving you vulnerable? Let's follow the money trail:

Phishing on Steroids: Fake payment apps that look eerily real.

Man-in-the-Middle Attacks: Intercepting your data mid-transaction.

Malware Mayhem: Sneaky software that steals your credentials.

QR Code Quagmire: Scanning your way into a hacker's trap.

Who's Paying the Price?

When mobile payment privacy is compromised, the ripple effects are far-reaching:

Users: Your financial data and hard-earned money are at risk.

Businesses: Customer trust evaporates faster than you can say "digital India."

Banks and Fintech Companies: Reputational damage and regulatory nightmares await.

The Regulatory Tightrope

India's regulators are trying to keep up, but it's like chasing a bullet train on foot:

The RBI's guidelines on digital payments security are evolving, but implementation lags.

The proposed Personal Data Protection Bill aims to address fintech privacy, but it's still in the pipeline.

It's a bit like trying to build a railway track while the train is already moving!

Safeguarding Your Digital Rupees

Don't worry, you don't need to go back to carrying cash! Here's how to keep your digital money safe:

Stick to official apps – no matter how tempting that "special offer" looks.

Enable biometric authentication – your fingerprint is harder to fake than a password.

Use a separate bank account for digital transactions – limit your exposure.

Be wary of public Wi-Fi – that free internet could cost you dearly.

Keep your apps updated – those pesky updates often patch security holes.

The Bottom Line

As India races towards a cashless future, we need to make sure we're not leaving our financial privacy behind. Stay vigilant, stay informed, and remember – in the world of mobile payments, convenience should never come at the cost of security.

So, the next time you tap to pay, take a moment to appreciate the technology – and then double-check your privacy settings!

Stay safe, stay smart, and maybe think twice before linking your entire life to that shiny new payment app!

[cindylouwho-2]

Etsy Third Quarter Earnings 2023 - It's the Economy, Not Upper Management's Fault (Apparently)

Slide 12 from Etsy's 3rd Q earnings call, © Etsy; they are definitely going all out to let US buyers know about the Purchase Protection changes.

Etsy's third quarter 2023 didn't show any real sales growth, and upper management is projecting an even weaker holiday season. However, economic issues and geopolitical instability bore the brunt of the blame, along with ecommerce competition that is spending too much money on ads (compared to Etsy, of course). The top brass doesn't think it has made any big mistakes, and surprisingly, didn't announce any new ideas to get things moving again, largely repeating what's been said for the past year or more.

That doesn't mean we didn't learn anything new, though, so let's dive into the aspects that will most interest sellers. In portions where I am reporting on what was said or posted, I will put my personal commentary in square brackets to separate it out.

First, here are the resources that you should read/watch yourself, if you want to know more:

the press release

transcript of the conference call

slides from the conference call

video of the call (click on “Webcast” under “Latest Quarterly Results”)

my summaries of the third quarter 2022, and the second quarter 2023 for comparison

Second, the basic numbers (covering July to September 2023, compared to the same period in 2022):

Sales on Etsy were $2.7 billion, up 1% 

Total sales for all 4 marketplaces (Etsy, Reverb, Depop, Elo7) were $3.0 billion, up 1.2%. [Elo7 was officially sold in mid August, meaning it was only included for half of the quarter]

Etsy’s revenue (including all 4 sites) was $636.3 million, up 7%

Seller service revenue was up 16.2% to $175.4 million, while marketplace revenue was up 3.9% to $460.9 million

Net Income was $87.9 million, up almost $1 billion due to the loss taken on Depop in the third quarter of 2022

Active buyers on Etsy alone stand at 91.6 million, a second consecutive all-time high

Active sellers on Etsy alone are 6.7 million, the third large jump in a row compared to the previous quarter; numbers had been stagnant through the end of 2021 and all of 2022 [Note that “active” means one charge or transaction in the past 12 months; many “active” shops currently have nothing for sale.]

Sales where the buyer and/or the seller was not in the United States were 47%, up from 43% last year, but most Etsy buyers are still in the US

Sales on mobile are now at 68%, up from 67% last year [this includes both the buyer app and mobile browsers]

The Economy, Pricing & the Consumer Appetite for Discounts

As you may have heard, the economy is not great, especially for lower-income households, and that affects certain products more than others. CEO Josh Silverman actually stated "the volatile macro climate is going to make it challenging for us to grow this quarter." Strikingly, both VP of Investor Relations Deb Wasser and CFO Rachel Glaser urged people to buy their holiday gifts on Etsy [which hit me as a bit desperate during an earnings call!]

However, households in US areas that average above $100,000 in yearly income are actually spending more on Etsy, and the top 10% of US households (by income) spent 20% more on Etsy this quarter than last year. Glaser pointed to this as evidence Etsy was doing fine, all things considered, and a better economy would once again lead to more growth. [That's a fair take based on that evidence; Etsy certainly is doing better than some other ecommerce marketplaces right now.] Is there an overarching plan if the economy doesn't improve? Investors weren't let in on any such plans during this call.

Despite all of this, sales were actually up a bit each month of the third quarter, while dropping in October. Glaser stated this matched US ecommerce trends. Non-US countries were up 7% this quarter, including the UK, Germany and France, continuing the trend of bigger international growth.

"In this economy, we are seeing that mass merchants who sell essentials and whose brands stand for low prices and deep discounts are generally gaining e-commerce share broadly at the expense of most others." Hence, as I pointed out last quarter, Etsy is leaning into discounting and stressing affordability to try to drive sales. This includes at least 3 approaches:

offering discounts paid by Etsy, such as the "GET5" coupon and the $10 off of $40 orders promotion. The former drove orders and paid for itself; the latter did not. They will continue to test these types of offers.

promoting sales that sellers already run, such as through links on the home page and through emails. [This would seem to include the lengthy holiday sale that Etsy is pushing, with at least 25% off.]

giving sellers more data on pricing, including when and how to put items on sale. They touted the [mostly useless] pricing tool as part of this plan, since "our sellers don't have pricing departments, giving them insights into things like how best to price each item and how or when to use promotions. So we need to be the ones to provide those insights and be their advocates."

They also talked a lot about the fact regular Etsy prices can be affordable. [It may be difficult to convincingly present that position to prospective buyers. Spinning shopping on Etsy as buying direct from the maker with no "middlemen" is a bit rich, considering Etsy is the middleman, taking an ever-larger cut in the past few years, through fee increases, Offsite Ads charges we didn't have to pay before 2020, and ever-increasing margins on Etsy Ads.]

In short, consumers are very price conscious right now, and Etsy is aiming to provide them with what they want.

Search - Branching The Biggest and Most Generic Queries

As they have been discussing for a few years now, one of Etsy's biggest goals for search is to better narrow down large searches, which currently produce an overwhelming number of results [a fact not helped by the continuing growth in seller numbers and Etsy adding items to results that don't have the search terms anywhere.]

They are now happy with the relevance of large searches - "[w]e've made a ton of progress on relevance" - [even though smaller searches can be quite poor, as I discussed last quarter], so they aren't going to focus on that as much going forward. Instead, they are finally testing better ways to offer multiple branches from large searches, or "open-ended head query items" [head searches are the opposite of long tail searches, so this is only being done in a small percentage of the total unique queries overall].

Here is the example given in the call, from a test ran recently:

Slide 6 from Etsy's 3rd Q earnings call, © Etsy; shows a test on breaking down a generic search into more specific ones.

This version had multiple rows of top items in specific narrower searches, before the full search results appeared further down the page, which led to a lot of scrolling. However, I am not seeing that version of the test any more when I check. I am seeing this one instead:

Search for "tree" on Etsy, November 3, 2023.

Note that the normal search results are much higher up the page with this one, plus you can see the 4 different options to narrow the results down without having to scroll. While the 4 sub-topics look like they might be categories, clicking on them simply leads to a search using all of the terms, i.e., a search for "tree home decor" instead of a search for "tree" filtered to the Home Decor category.

Note that Etsy plans that these options will ideally include personalization and contextualization, and are also likely to feature more "quality" items [which so far seems to mean items that have the Etsy's Pick badge in other areas, even though that hasn't happened in this type of test, or at least not that I have seen up until now].

Other changes in search mentioned include "utilizing ML [machine learning] models designed to determine the visual appeal of items and incorporating that information into our search algorithms." [It's hard to say how far they have gotten in testing that versus using it across the site; often these types of musings during calls turn out to be works in progress instead of live algorithm factors. I am trying to formulate a few tests on this, though, so stay tuned!]

Enforcing Etsy Policies To Entice More Shoppers

Etsy is finally aware of the negative image it has in some circles, and is making a big deal out of how it is now enforcing the rules and removing more handmade violations. "Handmade policy takedowns are up over 120% for the third quarter" sounds great [but they didn't mention that the overwhelming majority of their takedowns - roughly 95% - are wrong, and that innocent sellers' businesses are damaged when this happens.]

Because the job of cleaning up handmade violations is so overwhelming to program bots for, they are now approaching it by trying to deactivate the most visible items first, and claim that "we've nearly cut in half the percentage of visits where a buyer comes across a violating listing." [This explains the glut of long-time sellers complaining that their best sellers have been deactivated for handmade violations. Etsy is going for the items with good quality scores first, and as I have noted, they do a poor job of distinguishing real violations from legitimate listings. Aiming to remove non-handmade items from the biggest searches etc. first is a good idea, but you would need competent programing and quick human review to do this fairly and effectively, and Etsy has neither. By the way, despite promising in late September to review all handmade bot flags within 48 hours or reinstate them, and to deindex listings from search rather than deactivate them entirely, they are still not doing that.]

One of the investment group reps said they had seen an improvement in enforcement, and asked how much it was affecting sales. Silverman replied "I'm also proud to say that we are seeing no deleterious effect to GMS from that. People don't come to Etsy wanting mass-produced product, and we're finding that as we do even more to suppress those listings on the site, the site experience only gets better." [In other news, I am not at all proud to say that the packaged snack seller who is violating Etsy's gift basket policy by selling mass-produced foods in cardboard boxes is still on Etsy, and is now a Star Seller, despite me reporting them twice in 2 1/2 years. Since the corporation isn't removing this stuff - which sells well - I am not surprised that the gross marketplace sales have not been affected yet.]

Purchase Protection and On-Time Delivery Guarantees

As shown at the top of this post, Etsy's recent changes to the Purchase Protection Plan - officially stating that eligible orders arriving after the last estimated delivery date will be fully refunded after a case is opened - are a key part of the holiday marketing plan in the United States only, even though the policy applies worldwide.

Slide 9 notes that over 98% of orders were delivered on time in the US last holiday season [but of course sellers could enter their own custom delivery windows then, which is no longer possible in the US or the UK]. The slide did not note if that included items where tracking doesn't always get updated on Etsy, such as envelopes with Pitney-Bowes labels, or services Etsy doesn't program the tracking for. Were those part of the late items, or were they not included at all? We just do not know.

[Remember, if your order qualifies for seller protection, Etsy is the one who pays the refund, not you. They've been doing this for over a year now. Of course, some countries and classes of items are less likely to quality for seller protection, largely due to shipping and tracking differences. Review how seller protection works if you are concerned.]

Advertising

One of the most interesting parts of the call was both Silverman and Glaser blaming Temu and Shein for running massive ad campaigns that were not sustainable if they wanted to be profitable. They explicitly stated Etsy may reduce the spending on Offsite Ads if the other companies are driving bids up higher than they are worth, and also said they are increasing paid social media as one way to compensate. [So if you rely on sales from Offsite Ads, watch those number in the next few months.]

Overall, Etsy spent more on marketing/advertising this quarter than the previous year, up 9% to $161 million. As part of that, new commercials will come out in the UK and the US for the holidays, while Etsy tried TV commercials in Austria and Switzerland during the quarter.

"Etsy Ads was the primary driver of [services revenue] strength as we optimized our XWalk functionality to better value potential listing conversion and pricing into our ad ranking system." [Since I don't use Etsy Ads any more, I can't test this at all. They've previously said they incorporated listing prices into the search algorithm, but my testing demonstrated little effect. This is something I will test in search again.]

Miscellaneous

Etsy alone has added nearly 1 million sellers over 3 quarters after that number being relatively flat for a year, and Silverman says they've done nothing to go after those new folks. More people selling on Etsy was attributed to economic factors [but I suspect AI availability is also involved, as the tutorials for setting up an AI-generated shop on Etsy are all over the web now. Note this increase means that while gross marketplace sales have been roughly flat this year, the average amount per seller has dropped.]

Etsy spent around $1 million covering the October bills of sellers affected by war in Israel and Gaza.

Depop had an excellent quarter; "GMS and revenue both grew double digits on a year-over-year basis with growth in active buyers sparked by strong new buyer growth in the U.S." Reverb was down a bit, but kept ahead of other musical instrument businesses.

Silverman has mentioned that Etsy isn't the first place many people think to shop for certain types of items over several different calls now. For example, "Only 12% of buyers will name Etsy top of mind as the place to shop for gifts." They don't seem to have any updated numbers showing how they've been improving that situation. [It's time to go after that "enormous opportunity", Josh!]

I wish I could report there is a light at the end of the tunnel, but just waiting for the economy to improve is probably not the best way to increase sales. Yes, economic factors are a big part of Etsy's sales stagnation, and Etsy is doing better than many of its competitors, but they are going to have to present some new plans soon if they expect to keep investors happy.

Don't be surprised if there are major site changes in 2024, because this can't continue.

[techahead-software-blog]

SaaS Application Development: Everything a Startup Needs to Know

Have you seen how big tech giants in the market are the leaders of SaaS app development? Have you seen how they created a product from the issues people or other businesses are facing and converted it into their business, earning millions and billions of dollars?

Investing in a SaaS application development for your business can be your next huge move.

Don’t believe it?

Adobe Inc., Salesforce Inc., and Intuit Inc. are each valued at over $100 billion in market capitalization. Companies like Snowflake, Autodesk, and Workday also have market caps exceeding $35 billion. These SaaS companies saw substantial revenue in 2021.

Investing in SaaS application development is a smart move. The SaaS market is growing at an impressive annual rate of 18%, creating new opportunities for startups looking to develop cloud-based solutions for businesses and consumers.

With the rise of smartphones, SaaS is also expanding into mobile apps, making it a billion-dollar industry. If you're planning to start a SaaS company, you're in luck. This article will provide a guide to developing SaaS applications.

What is a SaaS Application?

SaaS is a Software-as-a-Service based application or software that works on cloud technology. It allows users to connect and use the SaaS application over the internet through a web browser. To put it in a nutshell, Software-as-a-Service (SaaS) is a web or mobile application hosted on a cloud server and allows users to access it from any device and location. 

Examples of SaaS applications

Salesforce

Canva

Dropbox

Microsoft Office 365

Google Suite

Slack

AWS (Amazon Web Services)

What is SaaS Application Development?

SaaS development is the process of creating Software-as-a-Service applications for web, or mobile platforms. It involves the design, development, testing, and deployment of the SaaS application on the cloud server.  

How is the SaaS application development can be different from Web application?

In principle, all SaaS applications are either desktop software or web applications. However, not all web apps and software are SaaS. To get a clear understanding see the below table

SaaS Application

Web Application

Work on a cloud-based server

It is hosted on a web domain server, not on a cloud

Doesn’t need IT infrastructure

Works from a remote server

Based on software licensing and delivery model

Built on a web user interface

The server supports multi-user access

Can’t handle large multi-user access

Generate revenue from the services offered

Can’t offer multiple services

Market Overview of SaaS Application

Since SaaS has been running in the market for a very long time. It has been primarily built for web platforms. But, with the rapid disruption of mobile app usage. Mobile devices have become a highly profitable platform for SaaS businesses.

Whether it is B2B or B2C, every person prefers mobile apps for accessing or browsing anything online. Software-as-a-service applications are mostly developed to work as web applications. 

However, since businesses and consumers are adopting the mobile-first approach, the rise of mobile Software as a service application is coming into trend. Here are the latest market reports that highlight how big the market of mobile SaaS applications is and how it is growing tremendously. 

According to Strategy Analytics, the global Mobile SaaS market grew significantly, reaching $37.9 billion in 2021, up from $20.9 billion in 2016, with a compound annual growth rate (CAGR) of 12.7% over that period. The report also highlights that the corporate mobile SaaS sector alone is expected to hit $7.4 billion in 2022.

This growth clearly shows that SaaS (Software as a Service) is no longer limited to web platforms—it’s expanding rapidly into mobile.

So, if you're considering building a SaaS application today, you now have two key platforms to focus on: web and mobile. With mobile apps gaining traction across various industries, experts recommend that now is an ideal time to invest in developing mobile SaaS applications. Doing so could give aspiring SaaS businesses an early edge in this emerging market.

Benefits of SaaS Application Development

SaaS applications offer significant advantages for both business owners and users. As a SaaS startup, you don’t need a large budget or extensive resources to create a complex app. With the help of cloud computing, you can easily develop and deploy your SaaS application on cloud servers.

One of the key benefits of SaaS applications is that they allow users to access online services instantly, from any device, while also cutting down on costs. Here are some of the top reasons why investing in SaaS application development is a smart move.

Quick Deployment

The SaaS model makes deployment fast and efficient. Instead of having to install the software on individual devices, it can be accessed directly through web browsers. This eliminates worries about compatibility or installation problems.

As a result, businesses can quickly start using the latest SaaS software, saving time compared to traditional methods.

Minimal Initial Investment

SaaS comes with very low upfront costs, depending on the SaaS development services you choose. The pay-as-you-go model makes it easier for businesses to form partnerships and only commit to a SaaS plan as their business grows.

This is one of the main reasons why SaaS development is becoming so popular among businesses of all sizes. This approach also helps minimize the risk of major financial losses.

Better Scalability

Developing software-as-a-service (SaaS) applications gives providers more flexibility and scalability. Since SaaS runs on scalable cloud platforms, it's easy to connect with other apps. If your customers need a new feature or service, you can quickly add it by integrating the right APIs.

SaaS apps also help businesses grow by providing better user analytics. You can track user behavior and offer them personalized options. For example, if you have a data storage app like Dropbox, you can start with a free plan and later offer a premium service for purchase.

Cost-efficient Solutions

SaaS runs on cloud servers, making it easy to deploy and launch. Providers don’t need to build a large IT infrastructure. They just create the SaaS application and deploy it to the cloud. Users can access the software at any time without needing to install it on their devices. This saves both time and effort and lowers software maintenance costs.

Reduce Operational Cost

SaaS offers a cost-effective solution by reducing the workload and expenses for your IT team. With the cloud-based model, you don’t have to worry about regular maintenance, backups, or updates. 

A reliable application development service provider handles all these tasks, including keeping hardware in good shape, preventing downtime, managing software updates, and even training and hiring staff. 

This lets your team focus on important business activities, leading to better productivity and growth.

Smooth Integration

People used to worry that older systems might not work well with SaaS and could cause problems for users. However, these concerns have been resolved because SaaS applications have proven to integrate smoothly with existing software.

SaaS includes built-in APIs (Application Programming Interfaces) and integration points that connect different solutions easily. This has made businesses more willing to adopt SaaS, seeing its value in combining various software products seamlessly.

Automatic Updates

Keeping software up-to-date can be tough for IT teams, but Software as a Service (SaaS) makes it easier with automatic updates. This ensures businesses always have the latest version of their software. 

With SaaS handling updates on its own, companies can focus more on what they do best. This hands-off process boosts efficiency and frees up time and resources for more important tasks.

Effortless Marketing Through Free Trial

SaaS is known for its smooth marketing strategy, especially by offering free trials. This allows potential users to try out the software before making a decision, helping them appreciate and trust the product. 

The "nothing to lose" approach is great for showing the software's value and building customer confidence. Additionally, SaaS providers offer flexible subscription plans that fit different business needs and budgets, making it easier for users to engage with and adopt the software, which benefits both the providers and their clients.

Wide User Accessibility

SaaS applications can be accessed from any device with web browsing capabilities, including desktops, laptops, tablets, and smartphones. This is beneficial for both SaaS providers and customers.

Providers can reach users on any device, while customers can use the service from any computer or mobile device. With the growing popularity of mobile apps, many consumers and businesses now prefer using SaaS on their phones. This is why new SaaS startups are investing in custom app development for better mobile access.

Robust Security and Privacy

SaaS applications are excellent when it comes to security and privacy. They use SSL and TLS encryption to keep data safe from unauthorized access and protect user information.

Since SaaS apps run on cloud services, all data is stored on secure cloud servers, which are protected from cyber-attacks. These servers are managed by the company providing the SaaS.

You can trust SaaS providers with your data security and privacy. Big names like AWS, Google, Microsoft, and Oracle offer SaaS with strong cloud infrastructure and IT resources to keep your data safe. 

Now that you know the benefits, let’s take a closer look at them.

Who May Benefit From the Use of SaaS App Development?

Software as a Service (SaaS) is a flexible solution that serves everyone from individuals to large companies across various industries. Small businesses and start-ups benefit greatly from SaaS because it is affordable and scalable. They can use powerful software without needing to invest heavily in licenses or infrastructure, helping them compete with larger companies.

Individuals and freelancers also gain from SaaS’s flexibility and easy access. They can use tools that boost productivity, manage projects, and support creative work, all from any device or location with an internet connection.

In specialized fields like healthcare, education, finance, and e-commerce, SaaS offers solutions designed for specific needs. For example, healthcare workers use electronic health records (EHR) systems, educators use online learning platforms, and e-commerce businesses use SaaS for inventory and customer management.

Overall, SaaS’s strength lies in its ability to meet diverse needs with a subscription-based model, easy access, and regular updates. This makes it a valuable tool for anyone needing cost-effective, efficient, and scalable software.

SaaS Application Development Process

SaaS Ideation and Validation

SaaS app development process is a complex with a broad scope. It’s essential to have a clear vision of the SaaS product you want to create. A SaaS application can offer various services, so start by defining your SaaS concept. 

Conduct thorough research into the SaaS market and gather insights from top market statistics sources to understand current demand. Given the large and competitive nature of the SaaS industry, it’s crucial to come up with a unique and effective product idea.

For the best results, consult a professional SaaS development company to assist with conceptualizing and developing your SaaS solution. Once you have your concept, validate it by examining its technical requirements and considering user feedback.

UX/UI Design

This phase is crucial for you. SaaS applications include various features to deliver services. If users find your SaaS app difficult or uncomfortable to use, they may leave. So, the UI/UX design of SaaS apps is very important.

To design a user-friendly SaaS application, start by creating a wireframe and prototype. This will give you a clear picture of your app. You can also look at popular SaaS apps for UI/UX design ideas.

Development and Testing

This is where the real work begins. At this stage, developers start coding and programming to turn your SaaS product into a live platform. Once the development is complete, they will test the application and perform quality checks.

You need to pay close attention here. If you’re developing a web-based SaaS app, make sure it works well on desktop computers. If you're creating a mobile SaaS app, ensure it performs smoothly on both Android and iOS devices.

Launch and Maintenance

Once your SaaS product is ready, you need to deploy and launch it online. You can use platforms like GitHub, AWS Code Commit, or other cloud services for this process. Launching a SaaS app involves technical steps.

Maintenance and Scaling

SaaS application development doesn’t stop after the initial build. In reality, the work continues afterward. SaaS is dynamic and flexible, so you need to regularly monitor its performance. This means having a solid plan for maintenance and growth.

With the growing competition in the SaaS market, it's important to keep an eye on user behavior and market trends. For example, you might need to add new features, update old versions, and provide consistent customer support.

Since the competition in the SaaS business is continuously growing due to digital transformation, you have to keep a watch on user behavior and market trends. For example, adding new features, updating old versions, providing consistent customer support, etc. 

Challenges in SaaS Application Development

Integration of APIs and Third-Party Services

A common challenge in SaaS development is integrating third-party services, especially for online payments. If your SaaS app needs a payment system, you'll have to integrate services like PayPal, QuickPay, Stripe, Skrill, or Braintree. This can be a complicated process because it involves working with their APIs and following their documentation.

To handle this challenge, you should carefully review the API documentation and understand how APIs work. The best approach is to hire a professional SaaS development company to handle these integrations for you.

Zero Downtime 

SaaS applications need regular monitoring and maintenance. One challenge you might face is downtime during updates. When your SaaS is being updated or maintained, users might lose access to the services, which can be very inconvenient for them. They rely on your SaaS for their business, so any downtime can lead to financial losses and might make them look for alternatives.

To avoid this problem, you should aim for zero downtime during updates. Instead of just notifying users about downtime in advance, use a blue-green deployment strategy. This involves running two versions of your app: the old version (Blue) and the new version (Green). During maintenance, you can switch users to the older version temporarily so they can continue using your service without interruption.

Ensuring Data Security and Privacy

SaaS applications handle a lot of sensitive data about your business and customers. A security breach could lead to major data loss and privacy issues, so it’s crucial to have strong data protection measures.

You also need to make sure your SaaS app complies with various data protection regulations and laws, like GDPR and HIPAA. If your app doesn’t meet these legal standards, you could face legal consequences.

To avoid these problems, choose a SaaS development service that understands GDPR and HIPAA requirements. Make sure their developers use SSL and TLS encryption to secure communication between users and servers.

Managing Subscription Lifecycle

SaaS incorporates many features and services to offer. Your customers might need to change their plans while using your services. For example,

Use trial version

Subscribe

Unsubscribe

Cancel

Upgrade 

And to serve your customer’s change requests, you need to constantly work on managing the subscription lifecycle. Plus, you have to manage the data of your subscriber list. Managing all these things could be a challenge for you. 

How to overcome this challenge: There are two solutions to this problem. Either you can create your subscription system or integrate external APIs. 

How Much Does it Cost to Develop a SaaS Application?

On average, developing a SaaS application costs between $50,000 and $300,000 or more. The exact cost depends on factors like the complexity of the app, API integrations, and the hourly rate of developers.

At TechAhead, we offer pricing based on either hourly rates or project costs, depending on the needs of a full-stack SaaS product. We’ve provided cost-effective solutions for startups, typically ranging from $50,000 to $200,000.

The final cost of developing a SaaS application mainly depends on the type of app you want to create. Below, we’ve listed the costs for developing popular types of SaaS applications.

Types of SaaS

Average Cost with Basic SaaS Features

Example

Project Management

$75,000+

Trello, Basecamp

Email Marketing

$60,000+

Mailchimp, Campaigner

CRM

$60,000+

Salesforce, SAP

ERP

$110,000+

NetSuite, abas ERP

Marketing

$90,000+

HubSpot CRM, Hootsuite

Accounting

$70,000+

Sage Intact, Zoho Expense

DIY Website Builder

$130,000+

Wix, Squarespace

Conclusion

SaaS is like creating a virtual company. It allows you to connect with millions and billions of users around the globe. This means, your SaaS product has a large size of target audience and business scope. From big to small, every level of SaaS company has achieved great success by providing innovative and problem-solving software-as-a-service to their customers. 

Hence, investing in SaaS application development is an assured success. But, to ensure your SaaS product also achieves the same success and generates big revenue, you should try to develop your SaaS product under an expert SaaS application development company. 

How TechAhead Can Help You Build Your SaaS Product?

TechAhead is a top-rated software development company with a team of skilled professionals and the latest technology to create any type of SaaS application for your business.

We offer top-notch SaaS development services for both web and mobile platforms. Our experienced developers and designers are experts in building web and mobile SaaS applications.

If you have any questions about your SaaS project, just schedule a call to talk with our experts.

Just Schedule a Call and Speak with Our Experts

Source URL: https://www.techaheadcorp.com/blog/saas-application-development-everything-a-startup-needs-to-know/

[kickstartvtr]

Kickstartvtr: A Simple Step-by-Step Guide for Beginners

KickstartVTR helps you with all of your bank tasks. The KVR app makes it simple and easy to start an account, get a loan, or handle your money. Keep track of your money with quick online services and helpful help. Perfect for beginners looking to bring their vision to life.

How to Start Earning with KVR Step 1: Understand the Basics of KickstartVTR Kickstart Vision to Reality Private Limited can help you make your business ideas come true. To make your idea come true, our team gives you expert advice, planning tools , and project management help. When you start a business or make a new product , KVR gives you the tools you need to get known quickly. People will be more interested in your site and more likely to visit it if the tools you use are easy to use.

Our Vision: Our vision is to revolutionize gig jobs digitally for the next billion people, And mission to revolutionize the global gig economy and empower gig workers by making it simpler to get gig jobs.

Project Management: Tools that help you organize tasks, set deadlines, and track progress.

Community Support: A group of people with similar interests who can share thoughts and support each other.

Step 2: Why Choose KVR Full financial services for people and companies, including banking, planning, and support. Our team is committed to giving you the best service and coming up with new ideas. Your needs come first, and we work hard to make sure you're happy. If you want great results and a dedication to greatness, choose KVR.

Timely Payouts: Your money reaches your bank account every Day.

Be your own Boss: Flexible work timings and zero target pressure.

Getting more money: No earning limits, Perform better daily and earn more daily.

Effective Sales Partners: 50k+ sales partners have earned ₹5 Cr in 4 years. Join it!

Step 3: KVR Services Kickstartvtr has all the main banking services, like personal and business accounts, digital banking, financial planning, and customer service. Like Paytm, Tide, pies, loans, a credit card, and more.

Personal Banking: Accounts, loans, and investment options to manage your finances.

Business Banking: Services to support business accounts, loans, and financial management.

Digital Banking: Convenient online and mobile banking for easy access to your accounts.

Planning your finances: Giving you tools and tips to help you plan your business and money.

Step 4: How to Start Earning Money with KVR Starting to earn money is easier than you might think. Whether you're looking for a side hustle, a full-time job, or passive income, there are plenty of opportunities available.

Start Earning: Start earning with KVR by referring financial products and helping others make informed financial decisions while earning commissions on every successful referral.

Working Projects: Tide, Paytm (QR, Sounbox, Health Saathi, Demat), Pice, Upstock, Angle One, Incred, Cashe, Credit Cards.

Daily Earn: Daily you can earn up to INR 2,000

KVR Application: The best online earning app, offering opportunities to earn up to Rs. 5 lakh monthly through the sale of IT and financial products. Refer your friends & You can earn a 10% referral bonus of their total (up to ₹500 per referral).

Step 5: About KVR With the goal of giving all Indian workers the right to be able to find work , KVR is going after one of the biggest gig economy areas in the north. Together with the help of more than 75,000 gig workers, we were able to finish more than 2 million jobs in 2021. We work with many Fortune 500 companies, such as Amazon, Flipkart, Jio, Tata , Paytm, PhonePe, BharatPe, and Zepto. The main office of our company is in Noida, India. On the other hand, we have offices in Delhi, Bareli, Lucknow, Kanpur, Indore, Hapur, and Moradabad, so we are present all over the country.

Manage Your Tasks: You can keep track of what you've done and plan your tasks with KickstartVTR.

Stay on Schedule: If you need to adjust your timeline, that's okay—just make sure you update your plan.

Step 6: Get Support from the Community One of the best parts of KickstartVTR is the community of people who are all working toward their own goals. Connecting with others can give you new ideas, feedback, and the motivation to keep going.

Feedback and Reviews: Receive constructive feedback on your work or ideas to improve and grow.

Learning and Development: Participate in workshops, webinars, and discussions to enhance your skills.

Networking Opportunities: Connect with others in your field to share knowledge and opportunities.

Conclusion  KickstartVTR can help you create your ideas. Following these simple steps will assist you in making plans, setting goals, and having faith in your actions. If you want to start a business, work on an artistic project, or set personal goals, Kickstartvtr has the tools and tools you need to get things done. Right now , begin to learn how Kickstart can assist you in reaching your targets.

Read More:

[vijay01]

What are the top 10 trending fantasy cricket mobile apps in India?

In India, cricket is more than simply a game. It’s a lifestyle, a passion, and a way to connect with other aficionados. Thanks to the popularity of fantasy cricket, cricket enthusiasts can now develop their passion for the game even further by managing players, building their own virtual teams, and participating in online leagues against other enthusiasts. 

In India, there are a number of fantasy cricket applications that satisfy fans’ requirements and give them an engaging experience. Here, we’ll highlight some of the top fantasy gaming apps for cricket in India, emphasizing their standout features, usability, and exhilarating gameplay. 

Fantasy Cricket Apps Market Size in India

The size of the fantasy sports market in India is estimated to be Rs 13 crore in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 32% from 2022 to 2032, reaching approximately Rs X crore. With almost 13 million users, India has emerged as the largest fantasy sports market in the world. 

While cricket currently dominates the Indian fantasy sports market, other sports like volleyball, kabaddi, hockey, and football are gaining traction and may eventually overtake cricket in terms of market share. However, over the next four years, fantasy cricket is predicted to increase at a 30% CAGR and continue to be the leading source of revenue for the fantasy sports sector. 

What are the top 10 trending fantasy cricket mobile apps in India?

Here, we present the top 10 trending fantasy cricket mobile apps in India. These fantasy sports apps provide diverse fantasy cricket experiences, catering to the interests and preferences of millions of sports enthusiasts across India.

Vision11

Vision 11, developed by Fantasy Sports Vision11 Private Limited stands out as India’s leading fantasy sports app, with a primary focus on cricket. It serves as a comprehensive sports management platform, empowering Indian sports enthusiasts to demonstrate their knowledge and skills. With a user base of over 20 million, Vision11 facilitates daily winnings exceeding 20 crores.

Vision11 is a top 10 fantasy cricket app that offers new users a sign-up bonus of Rs. 100 upon registration and allows payments directly to bank accounts. Users can also earn a referral bonus of Rs. 100 for each new member they bring onboard. The app ensures user convenience with a minimum withdrawal amount set at Rs. 100, making it accessible and rewarding for all fantasy cricket enthusiasts across India.

Dream 11

Dream11 stands as a powerhouse in the fantasy sports realm, boasting a colossal user base of over 220 million players globally. This platform offers enthusiasts the opportunity to engage deeply in fantasy versions of popular sports such as cricket, football, kabaddi, basketball, and hockey, among others. Founded by Dream Sports, a pioneering sports technology company in India,.

Dream11 is a top fantasy app in India that has strategically partnered with major national and international sports organizations, as well as prominent cricket personalities. These partnerships not only amplify fan interaction but also cement Dream11's position as a leader in delivering immersive and engaging fantasy sports experiences on a global scale.

BalleBaazi

BalleBaazi is highly recommended for fantasy cricket enthusiasts, particularly newcomers seeking a premier gaming experience. Renowned for its advanced features, this platform is one of the best sports fantasy apps in India that excels at delivering a top-tier fantasy experience. Endorsed by cricket legend Yuvraj Singh, BalleBaazi enjoys enhanced credibility and widespread appeal among users. It offers a generous sign-up bonus of Rs. 50, facilitating easy entry into the game.

Players benefit from convenient payment options like bank transfers and the Paytm wallet, ensuring seamless transactions. With a Rs. 50 referral bonus and a minimum withdrawal amount of Rs. 200, BalleBaazi provides a rewarding and user-friendly environment. Its robust features and user satisfaction make it a standout choice, as reflected in its positive ratings across fantasy gaming platforms.

My11 Circle

My11 Circle, managed by Play Games 24x7 Pvt. Ltd., is among the best fantasy apps tailored for passionate cricket fans eager to showcase their knowledge and strategic skills. This app allows users to create up to six teams per match, offering extensive options for team composition, caption selections, and predictions for standout players and optimal bowling pairs. 

Users not only participate in a variety of contests to challenge others but also have the option to create custom contests to compete with friends and family. With an impressive user rating of 4.3 out of 5, My11 Circle boasts a substantial user base exceeding 4 crore players. It has distributed over ₹500 crore in prizes, underscoring its stature as a top choice in the competitive world of fantasy sports.

MPL Fantasy

Founded in 2018 in Bengaluru, India, Mobile Premier League (MPL) has emerged as a leading online gaming platform offering a diverse range of over 60 games. These include board games, sports simulations, fantasy sports, puzzles, and casual games, catering to a broad audience of gamers. MPL's fantasy cricket app stands out for its realistic gaming experience, accessible for free on both iOS and Android devices (versions 5.1 and above). 

It enables users to participate in fantasy leagues for cricket, football, and basketball, providing real-time updates and smooth gameplay. MPL has solidified its appeal among sports enthusiasts through strategic partnerships with major leagues such as the NBA and Pro Kabaddi League, further enhancing its credibility and user engagement in the fantasy sports arena.

Gamezy

Gamezy is the best fantasy sports app in India, dedicated to transforming the fantasy cricket experience into something more rewarding and immersive. They emphasize creating a platform where everyone can win, whether they are new to fantasy sports or seasoned professionals. Gamezy is committed to providing a secure environment with RNG-certified gaming, ensuring 100% safe transactions, and safeguarding user data and identity privacy.

Their platform welcomes users with a generous sign-up bonus of Rs 12,000 and offers substantial earning opportunities through referrals, with users earning up to Rs 12,516 per friend referred. Gamezy also features unlimited earning potential through various missions, enhancing both the learning curve and entertainment value for all fantasy cricket enthusiasts.

Halaplay

HalaPlay stands out as a premier Daily Fantasy Sports (DFS) platform catering to both serious and casual sports enthusiasts. It offers quick, simple, and engaging cash-based games where users can create teams, join leagues, and compete for cash prizes after every game—not just at the end of a season.

The platform's mission is to enhance sports fan engagement and boost viewership by making matches more compelling for users. HalaPlay features various leagues across cricket, football, and Kabaddi, leveraging advanced data analytics and machine learning to assist users in drafting teams, analyzing their gameplay patterns, and enhancing their fantasy sports skills.

Real11

Real11 has established itself as a leading fantasy sports platform in India, celebrated for its credibility and reliability among cricket, football, and kabaddi enthusiasts. It offers a robust platform where sports fans can engage in skill-based gaming to earn substantial rewards. The platform's rapid growth is fueled by its expanding user base, providing fans ample opportunities to showcase their fantasy sports acumen and compete for significant prizes.

Innovation is at the core of Real11's strategy, as evidenced by its introduction of 'Opinion and Trading', a segment that engages users in knowledge-based gaming. Here, participants answer straightforward questions about ongoing events to earn rewards. With over 9 million downloads, Real11 hosts more than 250 daily contests, with daily winnings surpassing ₹1 crore, ensuring an engaging and lucrative experience for all users.

Paytm first games

Since its inception in 2009, Paytm has solidified its position as a leading payments platform in India. Leveraging its trusted brand, Paytm has ventured into the realm of gaming with First Games, emerging as a premier destination for money games including fantasy sports and rummy. Whether you're a fan of Indian rummy seeking to play online or looking for the excitement of fantasy cricket, First Games offers an innovative app that caters to both interests. 

It provides the thrill of playing ultimate rummy with opportunities to win real cash, seamlessly integrated with the excitement of fantasy sports. With First Games, users can enjoy a perfect blend of online rummy card games and the immersive experience of fantasy sports. 

Howzat

Since its inception in 2018, Howzat has rapidly emerged as one of India’s premier fantasy sports platforms. Managed by Junglee Games India Pvt. Ltd. Howzat provides sports enthusiasts with an interactive platform to actively engage in their favorite sports and compete for real-money prizes based on their sports knowledge and skills.

Boasting a nationwide user base exceeding 10 million players, Howzat maintains an impressive 4.5-star average rating from its dedicated community. The platform features a diverse array of major sports, exciting contests, and substantial winnings, ensuring a secure and enjoyable gaming experience with its steadfast commitment to 100% safety and security.

Conclusion 

The above-provided details and information talk about the top 10 trending fantasy cricket mobile apps in India. Whether through innovative features, trusted gameplay, or extensive user bases, these apps continue to shape and define the fantasy sports experience for millions across the country. If you are a business looking for a perfect development partner for your app, this is the best choice. 

FAQs

What is a fantasy sports app?

A fantasy sports app is a platform where users create virtual teams using real-life athletes. These teams earn points depending on the real-life performances of the athletes during actual games. 

How do I get started with a fantasy sports app?

Begin by signing up and creating an account. You can link your social media profiles for quick registration. Once registered, you can join or create leagues, draft your team, and start participating in contests.  Begin by signing up and creating an account. You can link your social media profiles for quick registration. Once registered, you can join or create leagues, draft your team, and start participating in contests. 

How are points calculated in fantasy sports?

Points are awarded based on the real0-life performance of the athletes on your fantasy team. Each sport has its own scoring system, which is outlined in the app. 

Are fantasy sports apps legal in India?

Yes, fantasy sports are considered a game of skill and are legal in most parts of India. However, regulations may vary by state, so it's best to check local laws.

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Increase in the Use of Android Development

Android is still one of the world's most popular mobile operating systems, and there is a great demand for skilled Android developers. Android developers can earn a good living and have a rewarding career. 

According to Statista research from the second quarter of 2021, consumers downloaded over 7.9 million apps from the Apple Store and 28 billion apps from Google Play. AI (Artificial Intelligence) will be crucial in creating Android mobile apps. 

The worldwide AI market is expected to be worth $70.94 billion by 2023. Android app development can use blockchain technology to create decentralized apps that provide speed, privacy, transparency, and performance, among other benefits. 

Android apps that use Blockchain technology, such as Ethereum, will improve operations and preserve data. Another profitable app development trend for 2022 is incorporating 5G technology into Android app development. 

Given the number of internet platforms and websites now available to identify qualified software developers, it is simple for employers to hire Android developers. Toptal, Arc, Gun .io, Fiverr, Upwork, and other similar sites are excellent places to find Android engineers. 

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