July 2022 – Management Library

Name: Online Business Checking Account
Brand: management
Rating: 4.5 (4 reviews)

July 29, 2022November 23, 2022

7 Most Secure VPNs of 2023

Woman's phone and PC connected to one of the most secure VPNs

The most secure VPNs protect you from privacy issues and cybercrime when you connect to the internet. It’s no wonder that virtual private network (VPN) usage in the U.S. shot up from 26% in 2019 to 69% in 2021.

Let’s compare the seven safest VPNs in the industry based on pricing, security, and features in this guide. Discover which VPN provider is ideal for you as a small business owner or freelancer.

Most Secure VPNs

Surfshark: Best Overall Secure VPN
NordVPN: Best for Safe Cloud Storage
CyberGhost: Best for Most Servers
ProtonVPN: Best for Speed
ExpressVPN: Best for Unlimited Bandwidth
Windscribe: Best for Flexibility
TunnelBear: Best for Affordability

Surfshark

Starts at $2.49/month

AES-256-GCM encryption + Change IP + Private DNS + Leak protection + CleanWeb + MultiHop + Security protocols + Bypasser + No logs

3,200+

1 Gbps – 10 Gbps

Yes

NordVPN

Starts at $3.29/month

Encrypted cloud storage + AES 256-bit encryption + Threat Protection + IP masking + Multi-factor authentication + No logs

5,569

No speed or bandwidth limits

Yes

CyberGhost

Starts at $3.25/month

AES 256-bit encryption + IP masking + Private browser + No logs

8,000+

6 Mbps – 1 Gbps

Yes

ProtonVPN

Starts at free

AES-256 encryption + Secure Core servers + NetShield + VPN Accelerator + No logs

1,772

Up to 10 Gbps

Yes

ExpressVPN

Starts at $8.32/month

AES-256 encryption + Threat Manager + VPN split tunneling + IP masking + TrustedServer + No logs

Undisclosed

Yes

Windscribe

Starts at $1/location/month

AES-256 encryption + R.O.B.E.R.T. + Leak protection + No logs

Undisclosed

1 Gbps for uplinks

TunnelBear

Starts at free/500 MB

AES 256-bit encryption + GhostBear + IP tracking prevention + Global content access + Bypass censorship + No logs

Undisclosed

Yes

Surfshark: Best Overall Secure VPN

Starts at $2.49/month

★★★★★

4.75

Visit

Surfshark Review

Surfshark ranks first among the most secure VPNs in our list because it merges together advanced security, snappy speed, many servers, and budget-friendly pricing. Founded in 2018, this Netherland-based VPN provider makes high-quality digital security accessible to everyone.

Pricing

Surfshark only charges you as low as $2.49 per month if you select the 2-year plan. Take note that the rate will rise to $12.95 per month if you choose to be billed monthly instead. Although it doesn’t have a free plan like TunnelBear or Windscribe, it has the cheapest rates among the VPN providers with paid plans.

Security

As discussed in our Surfshark review, it has the widest range of security features in the bunch. First, it safeguards your privacy through industry-standard AES-256-GCM encryption. Next, it doesn’t monitor your surfing through activity logs. Also, it changes your IP address to hide your real identity.

Plus, the private DNS and leak protection reduce the risk of compromising your data, while CleanWeb helps you avoid ads, phishing, trackers, and malware. MultiHop adds an extra layer of security by directing your web traffic through two different servers.

Aside from this, you can take your pick from security protocols like IKEv2/IPsec and OpenVPN. Finally, the Bypasser function lets you designate which apps and websites are allowed to bypass the VPN.

Servers

After CyberGhost and NordVPN, Surfshark has the third largest network with over 3,200 servers across 95 countries. To make things better, each server has its own private DNS. Through its innovative Nexus technology, your traffic is routed along the entire network instead of a lone VPN tunnel for better safety and performance.

Speed

Tied with ProtonVPN, Surfshark showcases the fastest estimated connection speeds in the group. Each of its servers has at least one port with 1 Gbps speeds. On top of this, the latest 10 Gbps ports are being added on a daily basis.

Audits

Surfshark first completed an independent audit back in November 2018 by Cure53, a German cybersecurity firm. This initial audit confirmed that the browser extensions have robust security with only two small issues.

The latest audit in May 2021 extended to the server infrastructure of this VPN provider. This time around, Cure53 commended the good defaults of the server network and skilled configuration of the constructs. Only a few minor issues were spotted during the audit, which were promptly fixed by Surfshark.

While the aspects of VPN services that were checked are limited, it’s still reassuring that Surfshark gained generally positive results from third-party audits.

Why we chose it: We award Surfshark as the best overall secure VPN because it gives you exceptional value for your money in terms of security, speed, servers, and rates. That’s why it also deserves to be counted as one of the best VPNs for PCs.

Strong security suite
Above-average connection speeds
3,200+ servers in 95 countries
Economical rates of paid plans

No free plan

Limited coverage of audits

Pricing:

2 Years: $2.49/month
1 Year: $3.99/month
1 Month: $12.95/month

NordVPN: Best for Safe Cloud Storage

Starts at $3.29/month

★★★★★

4.5

Visit

NordVPN Review

NordVPN is the close runner-up in our roundup of the safest VPNs. Aside from its attractive offerings, it grants you a generous 1 TB of encrypted cloud storage where you can keep your sensitive data. Established in 2012, this VPN provider currently operates from its headquarters in Panama.

Pricing

NordVPN has the second steepest rates among its competitors, right after ExpressVPN. Nevertheless, the price range of the 2-year plans are still reasonable at $3.29 to $5.29 per month. Admittedly, you do need to reach deeper into your pocket if you prefer to pay monthly, with rates from $11.99 to $13.99 per month.

Security

Although NordVPN encountered a third-party breach in 2018, it bounced back by taking several steps to boost its security. At present, it has a rich set of security features, almost comparable to Surfshark.

In addition to cloud storage with encryption, it comes with AES 256-bit encryption which is designed for shielding classified information. Plus, the built-in Threat Protection blocks malware, trackers, ads, and malicious websites. It masks your IP address to maintain the privacy of your internet browsing.

Also, multi-factor authentication ensures that only you can access your account. Last but not least, NordVPN is one of the most secure non-logging VPNs in the market. After all, it’s not required to store logs because Panama doesn’t have a mandatory data retention law

Speed

NordVPN doesn’t place any caps on your connection speed or bandwidth, unlike most of its peers except ExpressVPN. However, your actual speed will be determined by various factors, such as your internet speed, VPN protocol, and server proximity. NordVPN explains that it’s normal to expect a slightly slower connection when your traffic is routed through an encrypted VPN tunnel.

Servers

NordVPN has the second biggest server network in the bunch, only next to CyberGhost. It currently has 5,566 servers in 60 countries all around the globe. These servers are compatible with NordLynx, OpenVPN, and IKEv2/IPSec protocols.

Audits

NordVPN ordered its first independent assurance engagement to check its no-log policy in late 2018. After evaluating the VPN service, auditing firm PricewaterhouseCoopers AG Switzerland verified the authenticity of its no-log claim.

In May 2020, NordVPN requested an expanded third-party audit involving its central server infrastructure. The Double VPN, obfuscated, and P2P servers were inspected by the auditors. Once again, PricewaterhouseCoopers confirmed that the VPN provider uses the right configurations and keeps its no-log promise.

Finally, NordVPN underwent an advanced application security audit by VerSprite, a global cybersecurity consulting firm, in June 2021. Thankfully, VerSprite didn’t find any critical vulnerabilities during its evaluation.

Why we chose it: We picked NordVPN as the best for safe cloud storage among the most secure VPNs because it gives you a reliable digital space where you can keep your private information. It’s not surprising that it’s also considered one of the best VPNs for mobile phones in terms of security.

1 TB encrypted cloud storage
Solid security features
5,566 servers in 60 countries
No speed or bandwidth limits

Slightly pricey rates
Third-party breach in 2018

Pricing:

2 Years: $3.29-$5.29/month
1 Year: $4.99-$6.99/month
1 Month: $11.99-$13.99/month

CyberGhost: Best for Most Servers

Starts at $3.25/month

★★★★★

4.25

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CyberGhost Review

CyberGhost has an edge over its competitors because it has the highest number of servers among the safest VPNs in this review. It currently shows off more than 8,000 servers in 91 countries. This means that you have more servers to choose from, as well as more computing resources to share with other VPN users.

Founded in 2011 in Germany, the headquarters of this VPN provider is now located in Bucharest, Romania. At present, it shields the privacy of more than 38 million users across the globe. It’s a pioneer in the VPN industry when it comes to publishing transparent reports and developing crypto-technology.

Pricing

While it doesn’t present free plans like ProtonVPN, Windscribe, and TunnelBear, CyberGhost has the second lowest rates for paid plans next to Surfshark. You only need to pay $3.25 per month if you sign up for a 2-year plan. While the difference isn’t that big for the 1-year plan at $3.99 per month, the monthly rate will jump to $12.95 if you opt to pay every month instead.

Security

CyberGhost has good security features, although admittedly not as comprehensive as Surfshark and NordVPN. It keeps your data private through military-grade AES 256-bit encryption. Also, it gives you the chance to surf anonymously by hiding your IP address and providing a private browser. It sticks to a no-logs policy while operating under Romanian law, which doesn’t require the retention of data.

If you’re willing to pay extra, you can also access the NoSpy servers which are operated independently by CyberGhost for greater security and performance. The add-on price is $4.99 per month for annual billing.

Speed

The estimated connection speed of CyberGhost is the slowest among the VPN providers that disclose this information. You can expect around 6 Mbps if you have a regular internet connection, although you may potentially reach up to 1 Gbps under ideal circumstances.

Servers

CyberGhost leads the pack when it comes to the expansiveness of its server network. As we explained in our CyberGhost review, it currently counts over 8,000 VPN servers all over the world. That’s almost 2,500 more servers than second-ranked NordVPN. These bountiful servers support OpenVPN, L2TP/IPSec, and iKEv2 network protocols.

Audits

The last time CyberGhost went through a third-party inspection was in March 2012. Back then, it passed the audit and verification by QSCert on the Information Safety Management System (ISMS). However, at the time of writing, CyberGhost hasn’t undergone any recent audits to prove its claims in the privacy policy and transparency reports.

Why we chose it: We selected CyberGhost as the best for most servers since it grants you access to an incredibly broad server network.

Leading number of servers
Respectable security features
Transparency reports

Slowest estimated speed
Extra charge for NoSpy server access
No recent third-party audit

Pricing:

2 Years: $3.25/month
1 Year: $4.29/month
1 Month: $12.99/month

ProtonVPN: Best for Speed

Starts at free

★★★★★

4.0

Visit

ProtonVPN is way ahead of the other most secure VPNs in terms of estimated speed for paid plans. Its server network is capable of generating up to a whopping 10 Gbps connection. Thanks to its cutting-edge VPN Accelerator technology, it exponentially boosts the speed and stability of the VPN service.

Established in 2014, it’s presently based in Geneva, Switzerland. It originally started with the creation of Proton Mail, which eventually led to the development of ProtonVPN. Today, this open-source VPN service focuses on online security for millions of global users.

Pricing

ProtonVPN is one of the three VPN providers that offer a free plan, along with TunnelBear and Windscribe. That’s why it’s counted as one of the best free VPNs in the market. If you prioritize server speed, you may consider subscribing to paid plans that range from $4.99 to $9.99 per month, which we expounded on in our ProtonVPN review.

Security

ProtonVPN has an adequate amount of security features, although not on the same level as Surfshark or NordVPN. It guards your network traffic through AES-256 encryption, while it blocks ads, malware, and trackers through the DNS filter NetShield.

This VPN provider operates its own Secure Core servers which have the ability to defend itself against network attacks. Lastly, it enforces its no logs policy under Swiss law, which doesn’t require it to save user connection logs.

Speed

ProtonVPN has the swiftest estimated connection speeds in the group, which can go up to a maximum of 10 Gbps. Nevertheless, you should be aware that you can only experience this phenomenal speed if you subscribe to a paid plan. If you opt for the free plan, you can only expect medium speed, which is enough for basic users but probably not for power users.

Servers

At the time of this writing, ProtonVPN operates a total of 1,772 servers in 63 different countries. While it doesn’t have as many servers as CyberGhost, NordVPN, or Surfshark, at least it has over 1,000 servers unlike TunnelBear and ExpressVPN.

The company operates 96 Secure Core servers that it fully owns and operates. Nevertheless, only ProtonVPN Plus users can connect to these superior VPN servers. The network supports P2P file sharing protocols like BitTorrent..

Audits

Just last April 2022, ProtonVPN announced that it completed a third-party audit on its no-logs policy. After evaluating the infrastructure and server-side operations, Securitum verified that the VPN provider doesn’t keep any activity or metadata logs. Plus, the European security auditing firm didn’t pinpoint any major security issues during the audit. In addition to this, ProtonVPN also went through regular audits by independent security experts in the past.

Why we chose it: We acknowledge ProtonVPN as the best for speed because you can benefit from first-rate, high-speed connections if you get a paid package.

10 Gbps maximum speed
Free plan available
Very recent third-party audit

Medium speed for free plan
2-year plan rates are relatively high
Secure Core servers for paying users only

Pricing:

ProtonVPN Free: $0/month
ProtonVPN Plus:
- 2 Years: $4.99/month
- 1 Year: $5.99/month
- 1 Month: $9.99/month

ExpressVPN: Unlimited Bandwidth

Starts at $8.32/month

★★★★★

4.0

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ExpressVPN Review

ExpressVPN is the most generous among the safest VPNs when it comes to bandwidth allotment. It doesn’t cap your online traffic at all so you can download as much content as you like without worrying about excess usage fees. Founded in 2009, it’s presently based in the British Virgin Islands. It now caters to around 3 million active subscribers in 180 countries and counting.

Pricing

ExpressVPN definitely has the overall most expensive pricing of the lot. The annual package will set you back $8.32 per month, the half-year package $9.99 each month, and the monthly billing $12.95 every month.

Security

While it doesn’t match Surfshark or NordVPN, ExpressVPN has a decent suite of security features. It satisfies basic security standards with AES-256-bit encryption, while the Threat Manager tool blocks trackers and malicious users. Aside from masking your IP address, the VPN split tunneling routes your traffic efficiently.

Thanks to the TrustedServer technology, none of your data will be written on hard drives. There’s a private DNS on every server as well to bump up the security. Finally, this VPN provider doesn’t keep any connection or activity logs.

Speed

ExpressVPN doesn’t give an estimate of the Mbps or Gbps like most of its peers, but it assures users that the next-generation Lightway protocol is designed for quick connection speeds. Plus, the unlimited bandwidth ensures that you can enjoy as much data transfers as you like.

Servers

According to its official website, ExpressVPN has thousands of servers, but it doesn’t disclose the exact number. At least, it shares that the servers are placed in 160 locations in 94 countries. Also, it explains that the TrustedServer network provides extra security via private DNS.

Audits

ExpressVPN went through a recent independent audit by F-Secure last November to December 2021. The third-party cybersecurity firm validated the security of the Windows app by confirming it didn’t find significant issues. Back in 2019, ExpressVPN also benefited from positive results from security audits by PricewaterhouseCoopers and Cure53.

Why we chose it: We recognize ExpressVPN as the best for unlimited bandwidth because it allows you to make as many data transfers as you need.

No bandwidth caps
Satisfactory security features
Speedy Lightway protocol

Most expensive pricing
Server number info unavailable
No numeric speed estimate

Pricing:

1 Year: $8.32/month
6 Months: $9.99/month
1 Month: $12.95/month

Windscribe: Best for Flexibility

Starts at $1/location/month

★★★★★

3.75

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Windscribe Review

Windscribe stands out for being the only VPN provider in this roundup to offer a Build A Plan option. This pay-as-you-go service helps you save money by charging you only for the server locations you actually use. Established in 2016, it’s based at present in Toronto, Canada. It enables users to access geographically restricted content while protecting them from surveillance, marketers, and cybercriminals.

Pricing

Windscribe has the most versatile pricing in the group, thanks to the one-of-a-kind Build A Plan arrangement. At $1 per location each month, it has the second most budget-friendly rate, next to ProtonVPN and TunnelBear. If you prefer a flat rate, you can pick the yearly plan which goes for $4.08 per month or the monthly plan which charges $9.00 every month.

Security

Windscribe may have simple security features compared to most of its competitors, but it’s got the basics covered. Like most VPNs, it uses an AES-256 cipher to encrypt your data for private browsing. Plus, R.O.B.E.R.T. gives you the choice to block certain IPs and domains. This configurable DNS-based tool keeps you safe from ads, malware, trackers, and specific content as well.

Also, it doesn’t record logs to identify you via IP address and timestamp. On top of this, you can activate more security functions through the desktop app and browser extensions, including firewalls and WebRTC Slayer for leak protection.

Speed

Windscribe has an average speed of 1 Gbps for uplinks for both free and paid servers. However, the actual speed will depend on how many people are connected to each server. In addition to this, you can get from 10 GB up to unlimited bandwidth for Build A Plan, while data bandwidth is unlimited for paid plans.

Servers

Windscribe doesn’t disclose the exact number of its servers. Nevertheless, it does share that the network spans 110 cities located in 63 countries. If you install the browser extension, you can take advantage of the Auto Pilot feature which automatically selects the optimal location for you.

Audits

During the time of this writing, Windscribe hasn’t completed any external audits of its VPN services. This means its privacy claims haven’t ever been confirmed by independent firms at all. Disappointingly, it’s the only VPN provider in the list that never went through a recent or past third-party audit.

Why we chose it: We pick Windscribe as the best for flexibility because you can customize its Build A Plan based on your budget and location.

Build A Plan adjustable rates
Simple yet sufficient security
10 GB to unlimited bandwidth

Not the fastest connection speed
Server number info unavailable
Zero third-party audits

Pricing:

Build A Plan: $1/location/month
Pro Plans:
- 1 Year: $4.08/month
- 1 Month: $9/month

TunnelBear: Best for Affordability

Starts at free/500 MB

★★★★★

3.5

Visit

TunnelBear is one of the most affordable alternatives among the most secure VPNs in this guide. After all, it grants you 500 MB per month if you sign up for the free plan. Your data allocation renews automatically every month, although you can’t carry over leftover data from the previous month. Founded in 2011, its headquarters are situated in Toronto, Canada. It’s a user-friendly VPN for casual users because of its freebies and simple apps.

Pricing

TunnelBear is one of the three VPN providers here that present a free plan, along with ProtonVPN and Windscribe. If you need more advanced VPN services, you can pay for the unlimited plan which begins at $3.33 per month or the Teams plan which is priced at $5.75 per user each month. As you can see, even the paid plans have pretty cost-effective rates.

Security

TunnelBear probably has the most basic security features among its peers. Still, the GhostBear feature helps you avoid VPN blocking. Plus, it gives you essential protection through AES 256-bit encryption for essential privacy, while preventing intrusive IP tracking. Also, it doesn’t log your online activity. Lastly, it allows you to access global content and bypass local censorship.

Speed

TunnelBear claims it has lightning-fast speeds on its server network. However, it doesn’t share what the actual speed is in terms of Mbps or Gbps. It’s up to you if you want to take the company’s word for it.

Servers

TunnelBear doesn’t disclose information about the exact number of its servers. The official website only mentions that there are more than 40 server locations in 48 countries. At least, it placed servers in some underrepresented geographical areas, not just in the usual popular server spots.

Audits

TunnelBear finished a fairly recent annual independent security audit last October 2020. It’s the VPN provider’s fourth audit since it first went through the inspection in 2016. The results showed that Cure53 spotted two low, two medium, and a single high-risk vulnerability. Nevertheless, the auditor commended TunnelBear for its ongoing efforts to reduce security issues.

Why we chose it: We give a nod to TunnelBear as the best for affordability because it’s a practical option if you want to try a VPN service for the first time or if you can’t afford a paid plan.

Free 500MB per month
Easy-to-use apps
Annual security audits

Simple security only
Estimated speed unavailable
Server number info unavailable
One high-risk vulnerability found in recent audit

Pricing:

Free: $0/500 MB
Unlimited: Starts at $3.33/month
Teams: $5.75/user/month

Methodology for the Most Secure VPNs

We considered security and other relevant factors while choosing the most secure VPNs. In short, we ranked the safest VPNs based on which providers clearly stand out in these areas:

Pricing: We checked if each VPN provider offers both free plans and paid packages. Plus, we listed how much the monthly rates of the paid plans are in terms of 2-year, annual, biannual, or monthly billing.
Security: We evaluated the basic or advanced security suite that’s included with every VPN service. Some examples of security features we discussed are VPN routing, encryption standards, IP masking, ad blocking, and no-logs policies. Read more on what a VPN protects you from here.
Servers: We examined how many servers each VPN provider currently has in its network. Also, we explained if it has any special features like network protocols, private DNS, and auto location selection.
Speed: We took note of the estimated speed of the VPN connection, at least if the numeric information is disclosed by the provider. Keep in mind that the actual speed might not always be the same as real-life speed since it’s based on different factors. In addition to this, we indicated the amount of bandwidth allotment if the data is available.
Audits: We reported if the VPN provider underwent independent audits by third-party security auditing firms, such as Cure53, PricewaterhouseCoopers, or VerSprite. Aside from pinpointing which aspect of the VPN service was scrutinized, we summarized what the results of these inspections are.

Take note that the information in this comparative review is based on current data as of the time of this writing.

Frequently Asked Questions (FAQs) for Most Secure VPNs

The most secure VPNs keep your data and devices safe while you browse through the internet. That’s why the global VPN market has grown to a staggering $44.6 billion this 2022. Learn the answers to these frequently asked questions if you’re on the lookout for the safest VPNs.

What Makes Some VPNs More Secure Than Others?

The most secure VPNs offer users both first-rate server routing and security features. These VPN providers allow you to safely route your internet traffic and downloads through a choice of servers located around the world. Ideally, the law in these countries don’t require data from servers to be identified with users. Equally as important, the safest VPNs provide a broad range of high-quality security features to protect your online privacy.

What Are the Most Essential VPN Security Features?

All security features are useful, but some are absolutely essential when connecting to the internet through a VPN. One vital feature is end-to-end data encryption, with most providers in the industry offering at least AES 256-bit encryption. Another necessary function is IP masking, which hides your IP address so you can browse anonymously. One more crucial feature is the no-logs policy, where the provider guarantees not to record logs of your online activity.

Why Are External Audits for VPN Providers Important?

A VPN provider can make a lot of claims about the security of various aspects of its VPN services. However, these claims can only be verified through external audits by third-party organizations. Independent auditing firms like PricewaterhouseCoopers, Cure53, or VerSprite aren’t biased in favor of any particular VPN company. That’s why they can provide objective feedback on the real-world implementation of security best practices by VPN companies.

How Can I Start Using a VPN Service?

First, look for a VPN provider with applications that are compatible with your computers, devices, and operating systems. Next, sign up for a VPN plan with the features and billing arrangements you prefer. Afterwards, download the VPN app or program, then log in to begin safeguarding the privacy of your location, downloads, and web traffic. Finally, choose from the nearest available servers for optimal security and performance.

How Do I Choose the Most Secure VPN?

The best way to choose a secure VPN is to consider all the information about top providers and square this data with your own unique requirements. Pick the VPN service which excels in the aspect you prioritize the most, whether it be overall security, cloud storage, server options, connection speed, bandwidth allotment, flexible customization, or low-cost pricing. You can try a risk-free monthly subscription first to determine whether it works well for you or not.

Bottom Line on the Most Secure VPNs

We hope our comparison review helped you pick the best VPN provider which matches your business needs and budget. All seven industry-leading safest VPNs in this guide offer secure and reliable connections for your small business network and devices. Nevertheless, we especially recommend Surfshark as our top pick among the most secure VPNs because it combines superior security, quick speed, abundant servers, and affordable rates.

July 28, 2022February 22, 2023

CyberGhost Review: Scaring Away Cyber Dangers

CyberGhost blog banner - CyberGhost review

The CyberGhost VPN service is carefully designed to keep you safe from the dangers of cyberspace. Through the best encryption money can buy, CyberGhost VPN makes your online transactions and personal information indiscernible to anyone trying to pry. Discover in this CyberGhost review how it works and what makes it one of the best VPNs available.

Our Verdict

CyberGhost VPN

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Anyone looking for extra security while on the web for personal or business purposes will find a friend in CyberGhost. The VPN protects your information through strong encryption while not keeping any logs of your time. If you’re willing to sign up for a few years of service at a time, costs can be as low as a couple of dollars per month.

Insane number of servers
No-logs policy
45-day money-back guarantee

Support limited to online chat
Weak ad-blocker
Pricey if you don’t sign up for long periods of time

CyberGhost VPN at a Glance

CyberGhost VPN reigns king with its monumental 8,100 servers scattered across 91 countries. Not only can you watch content from this long list of nations, you’ll likely have no difficulty connecting to a server with blazing fast speeds.

Pricing for CyberGhost is actually one of the cheapest if you’re willing to subscribe for a whopping 40 months at a time. Signing up for just a year comes at a middling cost, and a single month is a prohibitive $12.99. If you don’t like the service within the first 45 days, you can get your money back with CyberGhost’s guarantee.

The company doesn’t keep a log of anything you do on the internet, nor does it record your digital identity. One area CyberGhost struggles is with ads, as the pesky pop-ups tend to sneak through the filter.

Should you encounter any issues while using the virtual private network, CyberGhost does have a 24/7 support team on hand at all times. However, chat can be slow and not always efficient.

Who CyberGhost is Best For

CyberGhost VPN is great for anyone looking for extra security while on the internet. Whether at home or on the road, a VPN uses encryption to protect your data from unsavory characters lurking on the web. This holds especially true when using public Wi-Fi locations open to anyone.

Pricing

CyberGhost VPN’s pricing structure varies depending on how many months you sign up for at a time. A month-to-month membership will set you back $12.99, whereas signing up for a year lowers the cost to $4.29 per month. A two-year subscription runs $3.25 monthly, but the VPN’s best deal offers 40 months of service for $2.23 every 30 days.

Those using Chrome or Firefox browsers can download a free extension offering top-tier protection while you browse the web. CyberGhost makes these apps available whether you have an active subscription or not.

Price

$2.23 to $12.99 per month; free browser extensions

Number of Servers

Over 8,100 across 91 countries

Simultaneous Connections

7 devices

Bandwidth

Unlimited

Encryption

AES 256-bit

Platforms

Android, iOS, Windows, Mac, Linux, TV devices, game systems, browsers

Protocols

OpenVPN, L2TP/ IPSec, IKEv2/ IPSec, PPTP

Money back Guarantee

45 days

No Logs Policy

Customer Support

24/7 chat support

Automatic Kill Switch

CyberGhost VPN has but one service plan that gives full access to its list of features. Your monthly bill depends on the number of months you sign up for at a time, ranging from $12.99 for a single month to $2.23 for 40. If CyberGhost isn’t the VPN for you, you can cancel your subscription within the first 45 days of use for a complete refund.

The VPN has an extensive network of servers located in 90 countries around the world. No matter where you connect, you can use up to seven devices with a single subscription. You’re not limited to the device you use, as CyberGhost’s technology works on Windows, Mac, Linux, TVs, game systems, and all mobile devices.

Flexibility doesn’t stop there, as CyberGhost runs four different protocols you can use to maximize your online efficiency. The software doesn’t throttle back its bandwidth like some other providers, allowing you to surf and download at the same speed whether you use little or a lot of data.

When you are on the web, CyberGhost adheres to a strict no-logs policy that doesn’t track where you are or what you do. If downloading sensitive material, an automatic kill switch can suspend your internet connection if the VPN goes down for any reason.

Should issues arise while using the software, you can turn to chat help at any time. Unfortunately, CyberGhost doesn’t have phone or email support.

CyberGhost Features

This CyberGhost review wouldn’t be complete without a closer look at the VPN’s features. You’ll find industry standards, such as unlimited bandwidth and strong encryption, but CyberGhost offers some advantages over other VPN competitors.

Number of Servers

Screenshot of CyberGhost VPN server page

The more servers a VPN has, the more it can distribute users across them. With over 8,100 servers in 91 countries, CyberGhost VPN maximizes your chances of a speedy connection. Access to so many regions also allows you to view content from other parts of the world.

Simultaneous Connections

You can connect up to seven devices to a single VPN account. Whether at home or away on vacation, you can protect your phone, tablet, and PC at the same time. If you have multiple device users in your house, seven connections will keep them all safe.

Unlimited Bandwidth

CyberGhost won’t ever throttle your bandwidth back or limit traffic through your VPN. Whether you download huge files or stick to checking your email, your connection speed will remain the same. The software will also keep speeds as high as possible when you have multiple connections.

Encryption

CyberGhost uses AES 256-bit encryption to keep your information safe. Each key length is 256 bits, practically unhackable by modern standards. It is the strongest encryption method currently available.

Platforms

Whatever devices you use to connect to the internet, chances are CyberGhost has the software to support it. Obvious apps include Windows, Linux, and Mac, but CyberGhost has downloads for Android and iOS devices as well. On top of that, it’s even considered one of the best VPNs for mobile devices.

The VPN also protects smart TVs, gaming consoles, and even your home router. If that wasn’t enough, you can grab free extensions for Chrome or Firefox to surf the web without fear.

Protocols

Screenshot of CyberGhost VPN protocol page

VPNs use protocols to determine how to route data through a connection. Each type of protocol has different benefits, such as speed versus security.

Having multiple protocols enables you (or the VPN) to choose the best one for the task at hand. CyberGhost’s four options offer much more flexibility than those with fewer protocol choices.

No Logs Policy

CyberGhost follows a strict no logs policy and doesn’t keep track of your time on the internet while using its VPN. Everything from timestamps to browsing history and IP addresses stays off the books. Without records, your digital identity while using CyberGhost is as safe as can be.

Customer Support

Customer support is available 24/7 no matter where in the world you may be. The downside is that you can only connect via chat through the website. There are no phone numbers available to reach help.

Automatic Kill Switch

You can set up CyberGhost to immediately terminate your internet connection if the VPN shuts down for any reason. Doing so protects sensitive information on your device or network that you don’t want to be leaked out into the cyber world.

Alternatives to CyberGhost

Although you may have found in this CyberGhost review that it has several great features, it may not appeal to you. Here are a few other options to consider if that’s the case.

NordVPN

Visit

NordVPN Review

NordVPN has similarly priced subscription plans, with its best offer at $3.29 per month over a two-year span. Those wanting to try out the service can do so risk-free with a 30-day money-back guarantee.

The app boasts some of the best malware and threat protection out there to keep you and your information safe. Zero connection logs ensure that no one can access your data from the source. Unfortunately, NordVPN does tend to stick you with the same static IP address, making you a bit easier to track.

Linux users may want to think twice about using NordVPN, as the interface is in need of some work. CyberGhost gives those using Linux devices a much better experience. Whatever platform you’re on, the customer support team can be difficult to wrangle with limited chat hours and delayed email responses.

Zero connection logs
Powerful malware and threat protection
30-day money-back guarantee

Linux interface could use updating
Doesn’t cycle through dynamic IPs well
Customer support can be difficult to reach

ExpressVPN

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ExpressVPN Review

ExpressVPN may have some of the fastest connection speeds among VPNs, but you’re certainly going to pay for it. At best, a 12-month membership will set you back $8.32 every 30 days. Fortunately, you can try it out and cancel within the first 30 days for a complete refund if not satisfied.

Alongside other top VPNs, ExpressVPN keeps no record of your activity or connection logs. This security is bolstered more by a network kill switch that shuts down your internet if the VPN stops working.

If you need a static IP address, you won’t find one here. ExpressVPN limits its connections to dynamic IPs, posing a problem when you need a specific digital location. You won’t be able to connect more than five devices at a time either, which may not be enough for bigger households.

No activity or connection logs
Network lock kill switch
30-day money-back guarantee

No static IPs
Limited to five devices
A bit on the pricey side

Surfshark

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Surfshark Review

Surfshark comes through with its own no-logs policy, a necessity for keeping your online transactions away from the eyes of cyberattackers. There are apps available for Windows, Max, Linux, mobile devices, and browsers as well. Better yet, you can connect an unlimited number of devices through the VPN to keep all your information safe.

At present, Surfshark offers a two-year subscription for just $2.49 per month, right in line with CyberGhost. Apple users have reason to be leery, as Surfshark struggles to work properly on those devices.

The VPN’s somewhat limited server base may account for slightly slower than average speeds while connected. If you think things are running slower than they should be, you can reach customer support through chat or email. There’s no way to contact the team by phone.

Very budget-friendly subscription options
Can connect to an unlimited number of devices
Strict no-logs policy

Doesn’t work as well on Apple devices
Not the fastest speeds
No phone support

ProtonVPN

Visit

ProtonVPN does things a little differently, offering a completely free plan in addition to a paid tier of service. Its free VPN only allows access to 100 servers and medium surfing speeds. Two years of paid service will set you back $4.99 per month, but you’ll have the fastest speeds and 1700 servers to choose from.

The app has a no logs policy and won’t keep a record of anything you do while signed on. You can log on with up to ten unique devices and keep your information safe on each one. If you run into trouble along the way, you’ll have to wait for a response through email which can take days.

Up to ten device connections
Based in Switzerland with a no-logs policy
Has a free plan

Pricing is relatively high
Slow speeds at lower tiers
Support details limited to email

Frequently Asked Questions (FAQs) for CyberGhost

VPNs offer unprecedented protection while on the internet, but they’re not always easy to understand. This FAQ addresses some of the most common questions about CyberGhost.

Is CyberGhost Safe?

CyberGhost has the best encryption available on the market today. The company doesn’t keep logs or personal information on file and offers multiple protocols for additional security. Here’s our article on the most secure VPNs available for you.

Is CyberGhost VPN Free?

No, CyberGhost does not have a free plan for use on PC, Mac, or mobile devices. It does feature a free browser extension for Chrome and Firefox to help keep you safe while browsing. Read our guide on the best free VPNs if you’re searching for a free service.

Is CyberGhost VPN Legal?

Yes, CyberGhost is completely legal software to use. It can protect your identity and information from those wishing to do you harm.

Does CyberGhost Sell Your Data?

CyberGhost’s privacy policy specifically states that the company doesn’t sell any data to third parties. In fact, the software collects very little data and has strict no-log rules.

Bottom Line on CyberGhost Review

Anyone spending any amount of time on the internet can benefit greatly from keeping personal and business data safe. CyberGhost packs a virtual protective punch with top-of-the-line encryption and thousands of servers to keep internet speeds fast. Plus, if you’re willing to commit to a few years of service, CyberGhost’s prices rank as some of the best out there.

July 27, 2022March 22, 2023

Ultimate Guide to the Most Undervalued Crypto in 2023

CoinMarketCap reports the total number of cryptocurrencies in the world reaching a whopping 20,000. There’s bound to be a bunch of undervalued crypto coins, as well as overvalued ones, among the thousands of new and old projects.

Smart investors know the art of identifying undervalued assets and holding on to them for incredible returns in the long run. If you too are trying to find promising crypto projects for a long-term investment, this guide has all you need to know. Find out how to determine whether a cryptocurrency is undervalued, how to find such coins, and the most undervalued crypto on the market right now.

What is an Undervalued Crypto?

Undervalued crypto is any cryptocurrency that’s being bought and sold on the market at a price lower than what is probably its true, long-term worth. To put it differently, the larger market has not yet realized the actual value of a digital currency, hence its demand, and by extension, its price is not as high as it should be.

It’s not just new cryptocurrencies that can be undervalued. Even the oldest tokens like Bitcoin and Ethereum can be undervalued. As the BTC to USD chart below shows, the digital currency alternates between highs and lows. The lows, encircled in red, are the points where the crypto has been undervalued over the last couple of years.

Screenshot of BTC to USD chart for 2014-2022 from CoinMarketCap — *Source: CoinMarketCap*

Typically, undervalued cryptocurrencies are the best to invest in. They will eventually rise in value, yielding lucrative returns for investors who got in early. However, such investments work best if you commit to them for the long term. This might mean dedicating your capital for at least a couple of years. This is not to say that short-term investments won’t work at all, they just won’t be as profitable.

Just as some coins can be undervalued, others can be overvalued. This usually results from a hype investment, which is a characteristic of the crypto market.

People tend to follow trends and jump into a fast-growing cryptocurrency often without analyzing its technical soundness. This results in it getting overvalued temporarily until eventually the bubble bursts and the price plummets down to what it should’ve been. Exactly like what happened to Dogecoin in 2021.

Why are Cryptocurrencies Undervalued?

There can be several reasons behind a crypto’s price being below its true value. If it’s a freshly launched project that promises great utility and a unique application, it’s only natural to be undervalued initially. The reason is that the market takes some time to build confidence in a new project and start to see the actual value it brings to the table.

The wider community usually waits for expert traders and bigger names to endorse a crypto coin before they get their feet wet too. This brings us to another important aspect of digital assets being over or undervalued: marketing.

Good marketing can make a coin incredibly overvalued and vice versa. Even a promising currency with a comprehensive white paper can’t really get the ball rolling unless it markets itself properly.

When it comes to older projects, undervaluation usually comes down to the technicalities of crypto trading. Every tradable asset alternates between highs and lows which are typically fuelled by market sentiment.

Top 10 Undervalued Crypto Coins on the Market

Here’s a quick look at the top undervalued cryptocurrencies out there. Continue reading as we analyze why these cryptos are undervalued.

Decentraland (MANA)
The Sandbox (SAND)
Lucky Block (LBLOCK)
BNB (BNB)
ApeCoin (APE)
The Graph (GRT)
Algorand (ALGO)
Polygon (MATIC)
Ethereum (ETH)
Bitcoin (BTC)

You may not find all of these on some top crypto exchanges. Instead, we recommend you look for them on the crypto exchanges with the most coins as they’re more likely to have all of them.

1. Decentraland (MANA)

Decentraland or MANA is the crypto token from the virtual Decentraland ecosystem. Players use the crypto to buy real estate holdings in the game that has developed quite the market lately. With Decentraland plots selling for as much as $2.4 million, the virtual world’s native token clearly has a lot of utility to offer.

As giants like Meta have introduced the idea of developing virtual worlds, already existing virtual ecosystems like Decentraland have experienced a boost in popularity, users, and investment. The crypto hit an all-time high price of $5.5 in 2021’s bull run. With reasonable demand, sound utility, a credible team behind it, and availability in almost all major markets, MANA is indeed a great long-term investment.

2. The Sandbox (SAND)

Just like MANA tokens from Decentraland, SAND crypto comes from The Sandbox, a virtual world where players can create, own, and customize their virtual experience the way they want. It’s a 3D metaverse where players can connect, create their 3D games, and buy, and trade in-game assets.

SAND is the native cryptocurrency the game uses. With a max supply of 3 billion tokens, it’s a deflationary cryptocurrency. With 900 million tokens already in circulation, the price of each SAND token will only go up once it nears its supply cap. Still, it has great utility, and with its all-time-high value at $8.4, which was much higher than MANA’s, The Sandbox has solid potential to grow in value in the future.

3. Lucky Block (LBLOCK)

Launched in 2021, Lucky Block aims to disrupt the lottery industry by introducing its revolutionary decentralized lottery app. Players from all over the world can participate whereas the lottery itself will be completely decentralized and run on its own on the blockchain. This ensures players that the drawing process will be 100% random with no possibility of rigging.

Since the LBLOCK token will be the primary means of participating in Lucky Block games, the token has emerged to be one of the most useful cryptocurrencies. Moreover, all LBLOCK holders also receive a 10% share of winnings which means all investors have a chance of earning a passive income.

On top of that, Lucky Block cryptocurrency has quite a few amazing stats under its belt which make it an attractive undervalued crypto token to invest in. It’s the world’s fastest digital currency to hit a market cap of $1 billion with more than 50K investors in the first three months of its launch. Plus, if you’re an LBLOCK holder, you enter the daily jackpot free, making it an attractive cryptocurrency with great utility for the common person.

4. BNB (BNB)

When a crypto coin is backed by the world’s largest crypto exchange, you have to accept how strong it is. Binance is the world’s most popular crypto trading platform with the highest trading volume and liquidity. You can never take it out of the equation.

BNB is the exchange’s native token housed on the Binance Smart Chain. Note that other undervalued cryptocurrencies like Lucky Block, Uniswap, Chainlink, and Avalanche are also based on the same infrastructure.

What makes BNB a great long-term investment is the rock-solid support it has from the crypto exchange. BNB transactions are charged less by Binance which makes it a very useful asset to hold for Binance traders.

5. ApeCoin (APE)

ApeCoin is from the team behind Bored Ape Yacht Club, one of the best NFT projects to buy. The undeniable success of the project in the NFT area makes its governance token, APE, a good option for investors.

The primary purpose of the ApeCoin was to function as a governance token whereby holders can have a say in how the NFT project is run. However, it has also emerged to have great investment potential with a relatively stable price even when the rest of the market was crashing.

6. The Graph (GRT)

Launched in late 2020, The Graph is a relatively new virtual currency that’s making its mark when it comes to providing utility. As it happens, extracting data from different blockchains and using it hasn’t always been easy. But GRT is here to solve that problem as it gives consumers access to open APIs from blockchains.

This solves a long-standing problem in the industry which makes The Graph one of the most useful, and undervalued cryptos out there. Since its launch, GRT has continued to expand its horizons and works with more and more blockchains. Some have even dubbed it, ‘the Google of blockchains.’

7. Algorand (ALGO)

While Bitcoin is based on the Proof of Work mechanism, Algorand is a Proof of Stake cryptocurrency which is a much more efficient alternative to the former. ALGO was originally designed to beat Bitcoin in terms of speed and efficiency and has been doing fairly well. Although it’s not as popular as the industry-leading BTC, it’s growing fast and garnering more attention as it partners with a range of blockchain companies.

8. Polygon (MATIC)

While some may confuse Polygon to be an actual cryptocurrency, it’s a decentralized Ethereum scaling platform that lets developers build decentralized applications (dApps). MATIC is the native crypto token used on Polygon which also helps to govern and secure the network through staking.

With several market-leading companies and other tech giants using the Polygon network, its native crypto token is bound to go up in value. As of now, MATIC has quite a low price compared to its significant trading volume.

9. Ethereum (ETH)

You might expect a list of the most undervalued crypto to be full of hidden gems. However, even some of the most popular cryptocurrencies can be undervalued. Take Ethereum, for example. It’s only the second most popular crypto after Bitcoin and it’s severely undervalued for the massive range of applications it’s connected to.

Ethereum is arguably the highest utility cryptocurrency out there. The Ethereum blockchain houses several other cryptocurrencies and also powers technologies like smart contracts and dApps. Considering the utility and massive market cap of the ETH, it’s worth a lot more than its current price.

10. Bitcoin (BTC)

Last but not least, Bitcoin is also one of the most undervalued crypto tokens, especially right now (2022 bear market). Although it’s the largest cryptocurrency by market value and price, Bitcoin is at the very core of crypto technology.

Experts believe the token to be the ‘gold standard’ of the crypto world and rightly so. It’s the single cryptocurrency that inspired the creation of thousands of others and remains to be a flagship asset when it comes to looking at crypto as a financial market.

Bitcoin has some drawbacks too. As it’s based on a Proof of Work mechanism, BTC is not the most efficient when it comes to being a mode of exchange. The crypto has turned out to be more of an investment asset with the higher market cap out of all tokens. It reached an ATH of $68,780+ in 2021 but its price has significantly dropped since then, making it all the more undervalued.

How to Determine a Crypto is Undervalued?

Just like undervalued crypto, there are overvalued cryptocurrencies too. If you’re stepping into the crypto market, it’s best for you to know how to identify undervalued crypto.

In traditional financial markets like stocks, finding undervalued stocks comes down to companies’ balance sheets, financial performance, and business and industry research. On the other hand, determining undervalued crypto assets is a little different. Here you can either make decisions based on advertising and hype or on market research and technical analysis.

If you’re thinking about investing in a token, here are some steps you should take to ensure it’s an undervalued cryptocurrency.

Identify the team behind the crypto project: An experienced and trustworthy founding team is one of the most important factors you should consider when investing in a project. The names behind a cryptocurrency are what give it credibility and help it earn investors’ trust.

Identify the project’s backers: Trustworthy projects often have well-known investors that pour in the capital early on. Check out for credible angel investors or VC funds as they often invest in projects that will likely deliver great returns.

Study the charts: When it comes to identifying undervalued assets, studying charts is as simple as identifying highs and lows. If you see that the current value of a cryptocurrency is lower than what it usually is, you can say that it’s currently undervalued. However, this is only true if the crypto meets other requirements including having a credible team, strong backing, and offers utility.

Consider max circulating supply: Deflationary cryptocurrencies are those that have a maximum circulating supply limit or reduce supply over time. This results in an increase in value as there is a limited supply. In other words, cryptocurrencies with a maximum circulating supply limit are more likely to be undervalued than those that don’t limit supply.

Consider the crypto’s utility: Last but not least, a digital asset’s value comes down to the utility it provides to users or investors. Assets like Ethereum, Lucky Block, Algorand, and Polygon allow users to avail of different services which give them inherent value. As a result, the higher a cryptocurrency’s utility, the more undervalued it is.

Frequently Asked Questions (FAQs) for Most Undervalued Crypto

Here are some of the most frequently asked questions about the most undervalued crypto.

Which cryptocurrency has the lowest supply?

Bitcoin is the best cryptocurrency with the lowest supply with a max circulating supply of 21 million tokens. Algorand is also an undervalued crypto asset with a low supply of 10 billion.

Is Twitter a good place to find undervalued crypto?

Twitter is a good source of information when it comes to crypto market insights and important news that can influence upward and downward movements in the crypto market. There are several Twitter profiles that frequently share information on undervalued assets and large capital movements that you can use to predict price movements.

Can an undervalued cryptocurrency go down in value?

Yes, it can. A crypto asset that’s already undervalued can further decrease in value based on market forces. However, you can always expect the value to bounce back and increase in the long term.

Bottom Line on Undervalued Crypto

With thousands of cryptocurrencies being traded in the market, you will find several undervalued, as well as overvalued cryptocurrencies. The key to finding undervalued crypto is the utility it provides to users and investors. It gives it an inherent value that cannot be artificially changed in the long term.

Other factors like a credible founding team and strong backing also contribute to a digital currency’s value over time. That said, we recommend you always make investment decisions based on market research and sound technical analysis. If you want to invest, go for top crypto exchanges like Binance, Kraken, or Coinbase that give you accurate prices and swift order fulfillments for a promising crypto investing experience.

July 26, 2022November 25, 2022

How to Mine Dogecoin in 3 Steps

What started as a joke, now has a $22 billion market value. Dogecoin collected a fanbase worldwide and despite its recent success it’s still possible to mine Dogecoin and make some profit. In this article, we’ll walk you through a step-by-step guide on how to mine Dogecoin.

Mine Dogecoin with Hashshiny Cloud Mining!

How Mining Dogecoin Works

Before talking about Dogecoin mining, it’s important to first understand how mining cryptocurrency works in general. Dogecoin and other cryptocurrencies operate in a blockchain network that works by adding new blocks to its decentralized ledger.

“Mining” is critical for cryptocurrencies’ maintenance, development, and circulation. In practical terms, sophisticated hardware needs to solve complex mathematical problems and the first computer able to find the solution, receives the next block, the process begins again and the miner receives a newly minted coin as a reward for completing the “block.”

There are two different ways to mine: Proof of Work and Proof of Stake. Proof of Work (PoW) is what all types of hardware are needed for mining, such as GPUs, ASICs, and FPGAs (more on this later). Proof of Stake is an alternative for PoW, PoS is a consensus mechanism where cryptocurrency validators share the task of validating transactions.

Mine Dogecoin with Hashshiny Cloud Mining!

For the most part of mining cryptocurrency, including Dogecoin, miners resort to PoW. Here is the difference between Dogecoin mining and Bitcoin mining (as of December 2022):

Algorithm

Scrypt

SHA-256

Difficulty

8.48 million

36.95 trillion

Total Supply

Infinite

21 million

Reward per block

10,000

6.25

Block time

1 min

10 min

Bitcoin is the oldest and largest cryptocurrency by market cap and it uses a hashing algorithm called SHA-256. A hashing algorithm is simply a function that generates a fixed-length code using a certain technique. Each hashing algorithm uniquely creates random codes.

On the other hand, Dogecoin uses a hashing algorithm called Scrypt – a bit less complex than Bitcoin’s SHA-256. This makes mining Dogecoin much faster and less energy-intensive than BTC.

Most cryptocurrencies have a limited supply cap. Bitcoin, for instance, has 21 million whereas Dogecoin doesn’t, which means that its mining and circulating capacity increases continuously. This gives a larger block time between the two. New Dogecoin blocks are discovered every minute, while Bitcoin blocks, every 10 minutes.

The Process of Mining Dogecoin

Since the unexpected rise of Dogecoin at the beginning of 2021 – among pop culture, memes, and Elon Musk tweets about it – the meme coin ignited the interest of many crypto enthusiasts in Dogecoin mining and sent mining profitability to a new six-year high.

As its popularity increased, so did the mining process. This means, it is still possible to mine Dogecoin but it’s getting more and more difficult to do it. Because of that, miners got together and formed “mining pools.”

Mining pools are a group of miners who mine the cryptocurrency as a single entity – or node – by merging their computing power. The rewards get distributed among the participants proportionally by the amount of computer power committed by each miner. Today there are three ways to mine Dogecoin: individual mining, mining pools, and cloud mining.

Start Cloud Mining with Hashshiny!

How to Mine Dogecoin - visual representation of the difference between solo mining and pool mining

Dogecoin Mining Risks

Mining Dogecoin individually is possible as long as you know the risks. So, before diving into Dogecoin mining, you should know what you’re getting yourself into. We’ve listed the main risks of mining Dogecoin solo:

Electricity: Mining any PoW crypto consumes a lot of energy because computers must run 24/7. A GPU (graphics processing unit) from Nvidia and AMD requires high-wattage power supplies. A rig with three GPUs can consume 1,000 watts of power or more.
Faster wear and tear of equipment: If a miner decides to use their laptop to mine Dogecoin, they must be aware that, just like GPUs are up and running 24 hours a day, a laptop must do the same. This may accelerate the depreciation and affect the lifespan of your equipment.
GPU shortage could return: Nvidia has recently put an end to GPU shortage and boosted RTX 30-series graphics cards. Still, since dedicated GPUs are mainly manufactured by two companies, AMD and Nvidia, the market is vulnerable and maybe, still susceptible to another shortage again.

How to Mine Dogecoin in 3 Steps

Now that you know the process of mining Dogecoin, how it works, and the risks that come with it, and if you’re ready to venture into mining this successful meme coin, there are a few steps to follow.

Note that you can start mining Dogecoin instantly with a cloud-mining platform like Hashshiny. The steps below would work only if you’re willing to invest in mining hardware and take the longer route.

Step 1: Get Equipped

There are a few must-haves to start mining Dogecoin or any other cryptocurrency, and the two starters are hardware and software.

Hardware

There are three types of hardware equipment you can use:

CPU: Your regular PC’s processing unit can do the work, but as mentioned above, you might end up damaging your equipment due to overheating.
GPU: A graphic process unit is much more potent than a regular CPU; GPUs are also faster and more efficient and have become a must-have among miners.
ASIC: Application-specific integrated circuit miners are the highest level of mining crypto. They’re more powerful than GPUs and were specifically designed for mining crypto. However, it’s also more expensive.

Software

After choosing your equipment, it’s time to pick the software. Each one of the hardware listed above has its software to accompany it. We’ve listed the main ones:

CPU: CPU miner by Pooler, for Litecoin, Bitcoin, Dogecoin, and other cryptocurrencies
GPU: EasyMiner is a good option for beginners, CudaMiner works best with Nvidia GPUs, while CGminer goes well with all types of GPUs
ASIC: CGminer and EasyMiner can also be used with ASICs

Step 2: Get a Wallet

Screenshot of Dogecoin's different types of wallet

The second step is to get yourself a wallet. Dogecoin offers its official wallets – called Dogecoin Core and Multidoge but you can find another one that also stores Dogecoin. If you don’t know which crypto wallet to choose, check the best crypto wallets in 2023. A wallet will let you collect any revenue as a reward from mining DOGE.

Step 3: Decide How You Will Mine

As already mentioned, there are three approaches to mining Dogecoin: solo, pools, or cloud mining. If you intend to mine DOGE just for fun, you can do it by yourself, using a GPU through software such as Easy Miner or Cuda Mine, for example.

The function of a GPU is basically to process and render all images on a computer’s screen, and many laptops and desktop computers use it to improve image processing.

However, solo mining alone can be a tricky process if the individual isn’t used to it, and oftentimes it’s not profitable unless you’re willing to shell out significant sums of money on high-quality and professional equipment and electrical bills.

For first-time miners, we recommend trying to join a DOGE mining pool or a cloud-mining platform. Mining in a group increases the chances of becoming a block validator due to the collective hashing power of the pool. Also, a pool boosts the chances of profiting from mining – which is higher than mining solo.

The Crypto Economics Behind Dogecoin Mining

Most people want to know if it’s still possible to make some profit mining Dogecoin, even after its last peak in April 2021. But before discussing its profitability, let’s quickly look at the economics behind the Shiba Inus coin.

As opposed to the most popular cryptocurrencies out there such as Bitcoin and Litecoin, Dogecoin doesn’t have a fixed upper coin limit, which makes it an inflationary currency.

Although when first created, it was designed to be a limited supply of 100 billion coins, and the block reward was set to halve every 100,000 blocks until block 600,000 was mined. However, one year and 160 days after its launch, developers decided to give Dogecoin an infinite supply, thus DOGE turn into an inflationary currency with a slowly declining inflation rate.

With no hard cap supply, the DOGE hash rate declined significantly after that. To protect the network from 51% percent attacks, developers decided to allow merge, letting Dogecoin miners receive hashing power from another proof-of-work network. As a result, miners today can mine both Dogecoin and Litecoin simultaneously.

Is Mining Dogecoin Profitable?

That’s a very common question among miners and crypto enthusiasts. Profiting from DOGE depends on four main factors: energy costs, equipment’s hashpower, the current Dogecoin price, and the block reward. Generally speaking, the most costly variable is energy costs, as depending on the region or even the country, costs can go through the roof, then mining isn’t that profitable, especially if done solo.

The hash power provided is also an important variable that defines whether mining Dogecoin will turn out to be a profitable activity or not. The most popular GPU can make $0.25 to $2 per day. If using a new ASIC model, miners can make a profit of approximately $10-$40 per day.

Of course, it’s worth remembering that we aren’t including amortization into consideration – some GPU or ASIC models can take years to pay off the equipment’s price.

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How to Trade Crypto

Besides mining, there are other ways to profit from the crypto craze, such as NFT, DeFi, and trading. One of the most common ways is through trading.

You can trade cryptocurrency by exchanging one crypto for another (such as Bitcoin to Ethereum) or buying or selling crypto using fiat currency (like US dollar to Bitcoin). The process, however, can get complex if you aren’t familiar with the crypto market – which is similar to stocks and other financial markets.

Before starting off, you should understand how blockchain technology and the market involved in trading crypto works. Signing up with a quality crypto exchange will make things much easier for you.

Pros & Cons of Cryptocurrency

Cryptocurrencies are highly volatile, so it’s very common to see Bitcoin prices fluctuate over 10% in a single day. This is a great opportunity for high-risk profiles to make a profit quicker with crypto trading.

But is crypto worth investing in? Or is it something for you? If you can handle volatility and are okay with the risk of loss (in case you can’t access your wallet or private key) and security, cryptocurrencies have a high return potential (oftentimes higher than the stock market).

It gives users anonymity, and it’s very accessible and versatile – it only takes a few minutes to trade and transfer Bitcoin or any other crypto. If you’re sold on the idea of profiting from cryptocurrencies, check the fastest growing cryptocurrencies in 2023 and get ready.

Pros:

Potential for high rewards
Anonymity
Cryptocurrencies beat inflation

Cons:

Understanding cryptocurrency takes time and effort
Cryptocurrencies are highly volatile
Crypto newbies are vulnerable to security risks

Evaluate the complete pros and cons of cryptocurrencies to make the right decision for yourself.

Frequently Asked Questions (FAQs) for How to Mine Dogecoin

We have answered the most frequently asked questions so you can learn more about how to mine Dogecoin.

Is it hard to mine Dogecoin?

The short answer is no, mining Dogecoin isn’t difficult, the question is, is it really profitable if done from a laptop or a desktop? To profit from mining Dogecoin, miners must count on four main variables: energy costs, equipment’s hashpower, the current Dogecoin price, and the block reward.

How long does it take to mine Dogecoin?

It takes only one minute to mine Dogecoin – as opposed to Bitcoin, for example, which takes 10 minutes to mine a block.

Is mining Dogecoin worth it?

Yes, Dogecoin mining can still be profitable. Having powerful pieces of equipment and joining a mining pool will give you the best possible chance of making a profit from DOGE mining. However, don’t expect to become a millionaire.

How many Dogecoin exist?

The total number of Dogecoins worldwide is more than 132 billion. This number also represents the total number of Dogecoins in existence and circulation, or in other words, available to the public.

Where will Dogecoin be in 5 years?

There are some predictions of the future price of DOGE and it is predicted around $0.55 around 2026, according to a long-term Dogecoin price prediction. The maximum price estimated for the next 5 years is $0.58. However, those predictions depend on many factors, such as price changes, market cycles, and other cryptocurrencies.

Bottom Line on How to Mine Dogecoin

If you’re wondering if there’s still space for late adopters to make some profit with Dogecoin, the short answer is yes. However, there are some aspects and risks to consider when it comes to mining not only Dogecoin but any other cryptocurrency.

Mine Dogecoin with Hashshiny Cloud Mining!

July 25, 2022February 15, 2023

The Ultimate Guide to DBA Checking Accounts

Business woman opening a DBA checking account online with her PC

If you decide you don’t want to form an LLC or corporation, you’ll likely want a “doing business as” registered name for your sole proprietorship or partnership. A DBA checking account can be a game-changer for a small company looking to build a brand. It can facilitate business processes, saving time and reducing headaches.

What is a DBA?

In both sole proprietorships and partnerships, the legal name of your business becomes your own name. Because of this, many small business owners wish to file a DBA to showcase themselves under a different name.

DBA stands for “doing business as.” Submitting a DBA allows you to operate your company under a different name even though its legal name does not change. Doing so helps create an image for your venture that you can build a brand around.

For instance, Sam Cutter starts up a sole proprietorship running store. Since he doesn’t want to refer to his business as “Sam Cutter,” he files a DBA for the name Sam’s Running Store. Now he has a clear brand to build his company around.

Some states may have naming restrictions you’ll need to follow. For the most part, you can name your business something serious, funny, or anything in between. In any case, DBAs help separate business and personal at least on paper. A DBA does not protect you from any legal ramifications you may face as a sole proprietor.

Filing a DBA

The DBA process is usually as simple as filling out specific paperwork and submitting it at the appropriate level. Some states require paperwork at the state level, while others only ask you to provide documents to the country. Others mandate submitting paperwork at both levels. After paying the necessary fees, your DBA is ready to go.

Creating a DBA Checking Account

Once you start operating your sole proprietorship or partnership under a DBA, you may need a DBA checking account as well. Fortunately, setting up a DBA checking account is even easier than filing for a DBA in the first place. Some banks may even let you sign up online.

Requirements for opening your DBA checking account may vary from bank to bank. However, financial institutions typically look for the following:

DBA Certificate

You’ll receive a DBA certificate from the state or county once you file your doing-business-as name. The bank will want to see this document if you want to create an account under your DBA name.

Social Security or Employer Identification Number

Sole proprietorship owners often use their social security number for business identification. Partnerships are better off using an employer identification number (EIN), as there are two owners. In either case, the bank will need to know the number you used when starting your business. Here’s how you can open a business account with EIN.

Photo Identification

Any legal photo ID works for proving you are who you say you are. Common options include a driver’s license, state identification card, or passport.

Business License

Bring along any business licenses your city, county, or state required you to obtain when you started up your business. This includes specialized licenses or permits your particular company needs to function legally. Make sure each document lists your name and your company’s name.

Who is a DBA Checking Account Best For?

It is possible for any business type to open a DBA checking account, but it isn’t always practical. LLCs and corporations can create a company name on creation and should have no need to file for a DBA.

DBA checking accounts are best for sole proprietors and partnerships. Upon formation, a sole proprietorship’s legal name becomes your personal name. Partnerships typically take on the last names of the owners. It makes sense to file for a DBA and set up a checking account reflecting this new business name.

Benefits of a DBA Checking Account

Using a DBA as a sole proprietor or partnership allows you to open a business checking account through a service like Bluevine instead of a personal one for your company. This enables your small business to reap the benefits a business checking account has to offer.

Separating Business and Personal

Opening a business bank account makes it easy to keep your personal finances apart from what you’re bringing in on the business side. Avoiding the mess of mingling funds helps with tracking income, expenses, and paying out taxes. It also helps to remove your real name from public advertisements that may compromise privacy.

Fast Transactions

As a business owner, you’re going to be buying supplies and selling products or services frequently. Personal bank accounts don’t always allow quick money transfers and may charge fees. Free business banking accounts are geared around the flow of funds, both expediting the process and making it cost-effective at the same time.

Interest Checking

The best business checking accounts tend to offer interest on funds stored within. The rate can be a significant boost to money you’re waiting to use for payments or holding for tax purposes.

Professionalism

No matter how small your company may be, having a DBA checking account adds a level of professionalism to your interactions with customers. Instead of seeing your name on transactions, your business has an appropriate name and reveals your purpose.

Future Financing

Many banks require you to have a business bank account for a certain number of years before you can request a line of credit or a small business loan. Starting a DBA checking account while you’re running a business solo helps set the stage for future growth.

Multiple DBAs Within a Single Bank Account

In most cases, it is possible to have multiple DBAs within a single bank account. Business owners may choose this route to further differentiate brands, products, or services within one business entity. It can be hard to juggle multiple DBAs unless you stay on top of your books.

If you take this approach, keep a very detailed list of funds moving into and out of your bank account, including the DBA they are moving through. Be sure payments clearly spell out where funds need to go with account numbers for tracking purposes.

Finances can get quite murky, and you don’t want to end up getting sued or audited along the way. It’s paramount to have a well-documented money trail lest you end up suffering through penalties or legal fees.

Alternatives to Using a DBA Checking Account

Using a DBA to open up a bank account isn’t for everyone. Here are a couple of other options you can consider instead.

Personal Checking Account

Sole proprietors don’t have to create a business account when forming their company. There isn’t a legal requirement to have a separate bank account for business purposes, so it’s possible to use your personal account instead. Depending on the type of business you own, it may be very challenging to distinguish funds. If you wish to create a business account, then check out the best business bank accounts for your sole proprietors.

Establish an LLC

Whether a sole proprietor or in a partnership, you can take your business to the next level by establishing an LLC. LLCs separate your personal and business funds, protecting your personal assets in the event of an audit or lawsuit. Your LLC will need a business bank account but doesn’t require a DBA to open.

Joint Bank Account

Partnerships can go the route of a joint bank account to keep business funds in a single account. Both partners receive full ownership of the account to make use of as they please. You will need information from both individuals, but you won’t need a DBA.

Frequently Asked Questions (FAQs) for DBA Checking Account

DBA checking accounts can be a confusing business. This FAQ will help alleviate your most pressing questions.

Can I use my DBA name on checks?

Yes, setting up a DBA checking account allows you to use your DBA name on checks you hand out. This gives an air of professionalism when working with new and established clients.

Does a DBA need its own bank account?

Yes, companies using a DBA need a separate bank account. This allows your business to function as a separate legal entity.

Can I transfer money from my business to my personal account?

Yes, it’s perfectly legal to transfer money between business and personal accounts, essentially paying yourself for your hard-earned money. To facilitate the process, create both accounts at the same financial institution if possible. Be sure to document everything well, as using business funds for personal reasons is illegal.

Can a bank refuse to open a business account for you?

Yes, banks are not required to provide a bank account for you. They don’t have to give a reason, but it may revolve around a lack of funds or a low credit score.

Bottom Line on DBA Checking Accounts

Filing a DBA for your sole proprietorship or partnership is a great way to help your business stand out in a sea of others. DBA checking accounts offer a sense of privacy and professionalism while making it easy to send and receive payments. In the same vein, many banks give added incentives to business owners that you won’t find in personal accounts.

Best Business Bank Accounts by State

Below you will find an interactive U.S map that can help you locate and compare different banks and financial institutions that offer business accounts in your area.

July 22, 2022February 15, 2023

7 Best Credit Union Business Accounts of 2023

A credit union business account building

A credit union business account is a friendly alternative to opening a business bank account. It could work for you if you’re looking for the right hub for your business finances to push your venture to the next level.

Similar to banks, credit unions are financial institutions that offer online business checking accounts, savings accounts, loans, and credit cards. However, the advantages of credit unions over traditional banks include personalized customer service, lower loan interest rates, lower fees, and higher APY on savings and checking accounts.

Check out the best credit unions for business banking accounts in 2023 to find the right one for your small business:

Alliant Credit Union – Best Overall
Consumers Credit Union – Best for Checking APY
Digital Federal Credit Union – Best for Savings APY
America First Credit Union – Best for Checking Options
Blue Federal Credit Union – Best for Easy Branch Access
Pentagon Federal Credit Union – Best for Credit Card Rewards
Navy Federal Credit Union – Best for Small Business Loans

Alliant Credit Union

$0/month

0.25%-2.80%

Alliant employment, local proximity, or FC2S membership

Online + ATMs

Android & iOS

Unlimited credit card cashback

Consumers Credit Union

$0/month

0.03%-4.09%

$5 membership fee

Illinois branches + ATMs

Android & iOS

High Interest Checking account

Digital Federal Credit Union

$0/month

0.16%-6.17%

Employment w/ DCU partners, local proximity, or family affiliation

Massachusetts & New Hampshire branches + ATMs

Android & iOS

Primary Savings account

America First Credit Union

$0-$6/month

0.05%-1.10%

Located in Utah, Nevada, Arizona, or Idaho

Utah, Idaho, Arizona & Nevada branches + ATMs

Android & iOS

Multiple checking account options

Blue Federal Credit Union

$0/month

0%-5%

Donation, family affiliation, or work location in Wyoming or Colorado

Colorado & Wyoming full-service branches + Shared branches + ATMs

Android & iOS

In-person banking

PenFed Credit Union

$0-$10/month

0.05%-2.85%

U.S. citizenship or permanent residence

Branches in 15 states + ATMs

Android & iOS

Credit card incentives

Navy Federal Credit Union

Starts at $0/month

0%-3.15%

Military affiliation

Washington, D.C. & international branches + ATMs

Android & iOS

Various loan offers

Alliant Credit Union: Best Overall

Pricing: $0/month

★★★★★

4.5

Visit

Alliant Credit Union Review

Alliant Credit Union is the leading contender in our roundup because it ticks all the boxes for free bank accounts, flexible membership qualifications, reliable online banking technology, and unlimited cashback.

Screenshot of Alliant online banking page — *Source: Alliant*

It provides a full range of financial products and services, with different personal and business banking alternatives you can select from. Plus, you can open up to 19 different supplemental accounts for various goals if you become a member.

Pricing

Alliant offers you free bank accounts, just like most of the credit unions in this list. You don’t need to pay monthly service fees if you open a High-Rate Checking account. Also, there’s no monthly fees for the High-Rate Savings account if you choose to receive eStatements, although you must pay a $1 monthly fee if you prefer paper statements.

APY

These are the annual percentage yield (APY) rates for Alliant banking solutions:

High-Rate Checking Account: 0.25% APY
High-Rate Savings Account: 0.75% APY
Certificates: 2.80% APY
Custodial Account: 0.75% APY

It has the third highest APY among savings accounts, next to Digital Federal Credit Union and Consumers Credit Union. Yet along with Blue Federal Credit Union, it has the third lowest APY among checking accounts, although it’s a little higher than America First Credit Union and Digital Federal Credit Union.

Membership Requirements

You can join Alliant if you work for the institution’s businesses, organizations, or partners within the U.S. You may also qualify for membership if you live or work close to the union’s headquarters in Illinois.

However, the easiest way to join is to seek Foster Care to Success (FC2S) membership for only $5. Alliant will even settle this one-time fee on your behalf. Thanks to the FC2S option, a lot of people beyond the Alliant community have the opportunity to become a credit union member.

Alliant has one of the easiest eligibility requirements among the credit unions in our guide, on par with Consumers Credit Union and PenFed Credit Union. It’s not like America First Credit Union, Digital Federal Credit Union, or Navy Federal Credit Union which are only open to certain people based on employment, location, or affiliation.

Locations

Alliant is completely based online, which makes it the only credit union in this guide without any physical branches. Instead, you can access banking products and financial tools over the internet. Nevertheless, it has a broad network of over 80,000 fee-free ATMs. Plus, you can use ATMs outside the union’s network to make deposits and receive up to $20 refunds.

Online Banking

Because Alliant is an online credit union, it offers one of the most useful mobile banking apps for Android and iOS. You can settle your payments via bill pay, monitor your account balances, and even deposit checks through the app.

Special Feature

You have the chance to earn unlimited cashback simply by using the Alliant Cashback Visa Signature Credit Card. You can receive up to 2.5% cashback on your first $10,000 worth of qualifying purchases.

Why we chose it: We bestowed the title of best overall credit union of 2023 to Alliant Credit Union because it’s a remarkable all-purpose banking platform. It provides free banking solutions, various application methods, practical mobile app features, and cashback rewards.

No monthly service fees
Low membership barrier
Superior online banking
Credit card cashback

$1 monthly fee for paper statements
No brick-and-mortar branches
Relatively low checking APY

Pricing: $0/month

Consumers Credit Union: Best for Checking APY

Pricing: $0/month

★★★★★

4.25

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Consumers Credit Union Review

Consumers Credit Union (CCU) trumps other credit unions in this review because of its impressive checking APY. If you open a Free Rewards Checking account, you have the opportunity to earn as high as 4.09% APY on balances up to $10,000.

Consumers Credit Union home page screenshot — *Source: Consumers*

Founded in 1930, CCU is currently based in the state of Illinois. Aside from its checking account, the financial institution also offers other financial products, including savings accounts, business banking accounts, business lines of credit, credit cards, money market certificates, and loans.

Pricing

The CCU checking and savings accounts are both free, which is similar to the majority of the credit unions in this list. While there is a zero minimum balance for the checking account, you do need to maintain at least $5 in your savings account balance.

APY

Here are the APY rates for CCU banking solutions:

Free Rewards Checking Account: 0.10%-4.09% APY
Savings Account: 0.03%-0.25% APY
Money Market Account: 0.05%-0.25% APY
Certificates: 0.35%-2.30% APY

CCU has the highest APY for checking accounts among all the credit unions in this roundup. Take note that you need to qualify for the highest checking tier to benefit from the top interest rate. Along with Navy Federal Credit Union, it has the second lowest savings APY, only higher than Blue Federal Credit Union.

Membership Requirements

CCU has one of the simplest eligibility criteria in this guide, equal to Alliant Credit Union and PenFed Credit Union. All you need to do is spend a $5 membership fee to join CCU.

Locations

Although CCU is based in Illinois, it accepts customers from all over the nation. It has over 5,000 shared credit union branches spread out in the state, plus a nationwide chain of over 30,000 ATMs that are part of the CO-OP network.

Online Banking

CCU has a mobile app that’s compatible with Android and iOS devices. While the slightly outdated app doesn’t allow check deposits, you can at least conduct basic business functions like bill pay and fund transfers.

Special Feature

The standout feature of CCU is its High Interest Checking account. It comes with unlimited check writing and early direct deposit. Also, you can link your debit card so you can make payments via Google Pay, Apple Pay, and Samsung Pay.

Why we chose it: We acknowledge Consumer Credit Union as the best for checking APY because of its exceptional APY rates for the checking account.

Top-notch checking APY
No monthly fee or minimum balance for checking
$5 membership fee requirement only

Maximum checking APY for highest tier only
Fairly low savings APY
No mobile app check deposits

Pricing: $0/month

Digital Federal Credit Union: Best for Savings APY

Pricing: $0/month

★★★★★

4.0

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Digital Federal Credit Union Review

Digital Federal Credit Union (DCU) beats its competitors when it comes to APY rates for savings accounts. It’s possible for you to earn as much as 6.17% APY if you open a Primary Savings account.

Screenshot of Digital Federal Credit Union free checking account page — *Source: DCU*

Aside from savings solutions, DCU also offers a wide range of financial tools, such as checking accounts, credit cards, loans, and business lines of credit. It also stands out for its equity crowdfunding feature, which equips members to raise capital for investment in local businesses within the community.

Pricing

Both the checking and savings accounts of DCU don’t charge monthly maintenance fees, same as most of the credit unions in the list. There’s no minimum opening balance for the checking account as well, although you need to deposit at least $5 to open a savings account.

APY

See below for the APY rates of DCU banking solutions:

Checking Account: Up to 0.20% APY
Savings Account: 0.16%-6.17% APY
Money Market Account: Starts at 0.20% APY
Retirement Accounts: Starts at 0.20% APY

DCU has the highest APY for savings accounts among the credit unions in this roundup. Keep in mind that this maximum rate only applies to balances up to $1,000. Nevertheless, it has the second lowest APY for checking accounts, only higher than America First Credit Union.

Membership Requirements

You are qualified to join DCU if you work for any of the union’s partner companies or organizations. Also, you are eligible to apply if you worship or attend school in DCU eligible communities. Alternatively, you can earn membership if you have a relative who is currently a DCU member.

Because of its geographical and social restrictions, DCU has strict application requirements compared to Alliant Credit Union and PenFed Credit Union, which are open to more potential members.

Locations

DCU is based in Marlborough, Massachusetts. Plus, it has 23 branches located in Massachusetts and New Hampshire. Also, members have access to more than 80,000 surcharge-free ATMs through the CO-OP network.

Online Banking

DCU offers a digital banking platform via mobile phones or desktops with innovative financial tools for members. The mobile app is available for both iOS and Android smartphones.

Special Feature

The notable feature of DCU is the Primary Savings Account. It helps you grow your funds over time through its generous APY and dividend rates. Plus, the online calculator lets you compute how much you can save through estimated monthly deposits.

Why we chose it: We recognize Digital Federal Credit Union as the best for savings APY because of its phenomenal interest rates for savings accounts.

First-rate savings APY
Equity crowdfunding
Zero monthly maintenance fees

Minimum deposit requirement for savings accounts
Maximum APY applicable up to $1,000 only
Restrictive membership eligibility

Pricing: $0/month

America First Credit Union: Best for Checking Options

Pricing: Starts at $0/month

★★★★★

4.0

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America First Credit Union Review

America First Credit Union gives you the freedom to choose between different types of checking accounts. You can take your pick from Premium Checking, Classic Checking, Regular Checking, Money Market Checking, and HSA Money Market Checking.

America First Credit Union home page screenshot — *Source: America First*

This financial institution meets the banking needs of businesses and individuals through various banking products and services. Aside from checking accounts, it also presents savings programs, investment accounts, and low-rate loans. On top of this, it provides business registration services, which makes it possible for you to open a bank account with EIN only.

Pricing

Most of the America First checking accounts are free, with the exception of Premium Checking where you need to pay $6/month. Along with PenFed Credit Union and Navy Federal Credit Union, it’s one of the few credit unions in this review that charges a monthly fee for bank accounts. On the bright side, the savings account is free as long as you maintain a minimum balance of $1.

APY

Take a look at the APY rates for America First banking solutions:

Checking Accounts: 0.05% APY
Savings Accounts: 0.05%-0.50% APY
Money Market Savings Accounts: 0.05-0.15% APY
Certificates: 0.25% to 1.10% APY

America First has the lowest checking account APY among the credit unions in this guide. At least it ranks somewhere in the middle when it comes to its savings accounts APY.

Membership Requirements

Unfortunately, not everyone qualifies to join America First Credit Union, in contrast to PenFed Credit Union and Alliant Credit Union which have more lenient requirements. You must work, live, volunteer, or worship in Utah, Nevada, Arizona, or Idaho to become a member. Aside from this, you may be eligible for membership if you have a relative or spouse who is a member of America First.

Locations

America First has 128 full-service branches in Utah, Idaho, Arizona, and Nevada. It also has a network of over 5,600 shared branches and more than 60,000 ATMs via CO-OP‘s shared network.

Online Banking

America First has you covered if you like the convenience of mobile and online banking features. You can deposit checks, transfer funds, and schedule bill payments through the digital banking portal. The Android and iOS mobile apps also provide live update alerts and account balance information.

Special Feature

The standout feature of America First is the multiple types of checking accounts. It ranges from simple checking to advanced money market checking so you can select the one that perfectly fits your banking purpose.

Why we chose it: We commend America First Credit Union as the best for checking options because it has a wide array of checking accounts to meet different checking needs.

Rich checking options
Business registration services
Feature-packed digital banking portal

Lowest checking APY
$6 fee for Premium Checking
Membership limited to a few states

Pricing: $0-$6/month

Blue Federal Credit Union: Best for Easy Branch Access

Pricing: $0/month

★★★★★

4.0

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Blue Federal Credit Union Review

Blue Federal Credit Union excels when it comes to availability of in-person banking. On top of 18 full-service branches, you can also visit thousands of CO-OP shared branches to perform banking transactions.

Screenshot of Blue Federal Credit Union solutions page — *Source: Blue Federal*

This credit union showcases business and personal financial products, including loans and credit cards. You can even earn points through the membership reward program, which you can use to waive fees or earn loan discounts.

Pricing

Blue offers free business checking and savings accounts, like most of the credit unions in this review. While there’s no monthly maintenance fees or minimum balance for basic checking and savings, the higher tiers of business checking do require certain daily balance amounts.

APY

These are the APY rates for Blue banking solutions:

Business Checking Accounts: 0%-0.25% APY
Business Savings Account: 0.05% APY
Savings Accounts: 0.15%-5% APY
Business Tiered Money Market Accounts: 0.05%-0.25% APY

It has the second highest savings APY in the bunch, only next to Digital Federal Credit Union. Along with Alliant Credit Union though, it has the third lowest APY among checking accounts, but it’s higher than America First Credit Union and Digital Federal Credit Union.

Membership Requirements

Blue Federal Credit Union has versatile eligibility requirements, which is the opposite of Navy Federal Credit Union and America First Credit Union. First, you are qualified to join if you have a relative with a Blue membership. You are also eligible to apply if you work in Wyoming or Colorado. The third and most straightforward way to become a member is to donate $5 to the Blue Foundation.

Locations

There are over 5,000 CO-OP shared branches where you can receive in-person Blue financial services, unlike most of its peers which only have branches in certain states. Plus, the credit union has over 30,000 fee-free ATMs through the CO-OP network. However, you have to visit one of the 18 full-service branches in Colorado or Wyoming if you wish to open a bank account.

Online Banking

You can access your Blue account through the convenient mobile app available for iOS and Android. You can also send money, pay bills, and check your loan status through the online banking portal.

Special Feature

The standout feature of Blue is the wide availability of in-person banking. This could come in handy for you if you prefer to perform banking transactions in a brick-and-mortar branch assisted by staff whom you can directly interact with in real life.

Why we chose it: We acknowledge Blue Federal as the best for easy bank access because it brings face-to-face banking within reach of many people in the U.S.

5,000+ shared branches
High savings APY
Flexible membership requirements

Minimum balance for high-tier checking accounts
Relatively low checking APY
Account opening unavailable in shared branches

Pricing: $0/month

Pentagon Federal Credit Union: Best for Credit Card Rewards

Pricing: Starts at $0/month

★★★★★

3.75

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Pentagon Federal Credit Union Review

Pentagon Federal Credit Union, also known as PenFed, has an edge over its competitors when it comes to credit card incentives. You have the chance to earn big rewards if you use the PenFed Platinum Rewards Visa Signature Card to pay for everyday purchases.

Screenshot of Pentagon Federal Credit Union online savings account page — *Source: PenFed*

This credit union was established in 1935. At present, it offers a full suite of financial services, such as checking accounts, savings accounts, money market certificates, and CDs. It also provides different kinds of loans, including mortgages and auto loans.

Pricing

There is a $10 monthly service charge for most of the checking accounts of PenFed, except the free checking one. Along with America First Credit Union and Navy Federal Credit Union, it’s one of the few institutions in our list that charges maintenance fees for bank accounts.

Still, you can waive this fee if you have a monthly direct deposit or daily balance worth $500 or more. At least you don’t have to pay a monthly fee if you open a savings account, although you need to deposit and maintain a balance of at least $5.

APY

Check out the APY rates of PenFed below:

Access America Checking Account: 0.15%-0.35% APY
Savings Accounts: 0.05%-0.75% APY
Money Market Savings Account: 0.15% APY
Money Market Certificates: 2.85% APY

Its checking APY falls somewhere in the middle of the group. Nevertheless, it has the second highest savings APY alongside Alliant Credit Union, next to Digital Federal Credit Union.

Membership Requirements

At first, PenFed membership was limited to those who served in the federal government or military. Today, anyone who is a U.S. citizen or permanent U.S. resident can join PenFed and benefit from its financial products.

That’s why it’s now more inclusive than America First Credit Union, Digital Federal Credit Union, or Navy Federal Credit Union. Take note that you have to be at least 18 years old to apply as a PenFed member.

Locations

PenFed has 48 full-service branches spread across 15 states. Members can conduct banking transactions at over 85,000 fee-free ATMs through CO-OP and Allpoint ATM networks.

Online Banking

PenFed allows you to access your account and perform a range of banking tasks from your smartphone or tablet. It has an intuitive app available for iOS and Android which lets you make check deposits, access bill pay tools, locate nearby ATMs, and instantly transfer funds between PenFed accounts.

Special Feature

The PenFed Platinum Rewards Visa Signature Card grants you the opportunity to gain bountiful rewards. By powering up your company cars, you could earn up to 5x points per dollar spent on gas at pump and EV charging stations. Plus, you will get 3x points when you shop at supermarkets, dine in restaurants, and pay tech bills.

Why we chose it: We recognize PenFed as the best for credit card rewards because it generously grants points for common business and personal purchases.

Credit card incentives
High savings APY
Open to U.S. citizens & permanent residents

$10 monthly fee for most checking accounts
Mediocre checking APY
Steep requirements to waive checking fees

Pricing: $0-$10/month

Navy Federal Credit Union: Best for Small Business Loans

Pricing: Starts at $0/month

★★★★★

3.5

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Navy Federal Credit Union Review

Navy Federal Credit Union sets itself apart from other credit unions because of its small business financial solutions. If you’re an eligible member, you can expand your venture and build your inventory with the help of business-friendly loans.

Navy Federal Credit Union home page preview — *Source: Navy Federal*

This full-service financial institution was founded in 1933. It offers checking accounts, savings accounts, credit cards, and loans. You can even open as many savings accounts as you like. However, while it’s considered as the largest credit union in the U.S., its strict membership requirements lock out most people from eligibility.

Pricing

Most of the Navy Federal checking accounts are free, except for the Flagship Checking account which has a monthly service fee of an unspecified amount. Similar to America First Credit Union and Blue Federal Credit Union, it’s one of the few institutions in this review which involves a monthly fee for bank accounts. Still, there’s no monthly service fee for the Navy Federal savings account, although you need to deposit at least $5 to open an account.

APY

Take a peek at the APY rates of Navy Federal banking solutions:

Checking Accounts: 0.01%-0.45% APY
Savings Accounts: 0.25% APY
Money Market Savings Account: 0%-0.45% APY
Jumbo Money Market Savings Account: 0.25%-0.50% APY
Certificates: 0.40% to 3.15% APY

It has the second highest checking APY compared to its peers, only next to Consumers Credit Union. Yet alongside Consumers Credit Union, it has the second lowest savings APY, only higher than Blue Federal Credit Union.

Membership Requirements

Military affiliation is a non-negotiable requirement for membership with the Navy Federal Credit Union. The main requirement to join the credit union is active duty with any department of the U.S. armed forces. Also, you may qualify for membership if you’re a military retiree, veteran, or an immediate family member of an eligible member.

Its membership criteria is very restrictive, in contrast to Alliant Credit Union, Consumers Credit Union, and PenFed Credit Union. If you’re interested in a checking account but aren’t eligible for Navy Federal Membership, you may check out other checking accounts like the one we discussed in our Bluevine review.

Locations

Finding a Navy Federal full-service branch shouldn’t be a problem because the credit union has 350 offices spread across Washington, D.C. and abroad. Members can also access their funds through over 30,000 ATMs in the CO-OP network.

Online Banking

Navy Federal digital banking allows you to manage your account anytime, anywhere. Through the mobile app for Android and iOS, members have full access to financial tools that enable them to transfer funds and view account activities.

Special Feature

Navy Federal provides a suite of small business financing solutions at low-interest rates and a flexible repayment plan of up to 60 months. This makes it convenient for entrepreneurs to address short-term cash flow issues and make urgent commercial equipment purchases.

Why we chose it: We commend Navy Federal Credit Union as the best for small business loans because it provides funds to help entrepreneurs start a new business or grow their existing one.

Cost-effective business loan options
High checking APY
National & international branches

Very limited membership eligibility
Flagship Checking monthly fee
Low savings APY

Pricing: Starts at $0/month

Methodology for the Best Credit Unions for Business Banking Accounts

We analyzed the offerings of different credit unions, plus rates and fees, to pick out credit unions that soar high in various categories. Here are the main features we considered:

Pricing: First, we researched if the checking and savings accounts offered by the credit unions are free or not. In case there are maintenance fees, we confirmed how much you need to pay each month.
APY: Next, we checked how much APY you can potentially earn with the checking and savings accounts. Since the rates may vary per category, we gave an overview of the APY ranges for each banking solution.
Membership Requirements: We evaluated the eligibility requirements for all the credit unions. Also, we assessed if the membership criteria of each institution is welcoming or restrictive.
Locations: We examined if there are available physical branches or not, as well as where these spots are located. In addition to this, we indicated if members have access to ATM networks or not.
Online Banking: We took a look at the mobile app and/or digital banking portal of every credit union. Plus, we explained which banking transactions you can perform online.
Special Feature: Last but not least, we highlighted what the standout feature is for each credit union, as well as what makes it unique.

Note: The pricing and APY rates in this guide are based on available information in June 2022.

Frequently Asked Questions (FAQs) for Credit Union Business Accounts

Is a Credit Union Business Account Better Than a Traditional Bank Account?

Yes. A credit union business account typically offers more favorable terms and higher APY rates compared to a conventional bank account, which can be beneficial for owners of small businesses and startup companies. These member-centric financial institutions usually provide attractive features, including a business line of credit and low-interest rates on loans. If your traditional bank lacks these options, you should consider switching to a business account with a credit union.

Which Is the Best Type of Credit Union Bank Account For Small Businesses?

In general, it’s best to opt for a business checking account if you want to open a credit union account for your small business. It’s designed to help entrepreneurs like you separate your business and personal finances. Moreover, the account has numerous features which can help you manage your cash flow and track your expenses. Just be aware that some online banks may be better than credit unions in terms of third-party integrations, such as the business account we discussed in our Novo review.

What Are the Perks of Opening a Credit Union Checking Account?

The checking accounts provided by credit unions usually have far more benefits than most checking accounts offered by traditional banks. For instance, you can receive more personalized services if you become a credit union member. Plus, you can expect lower fees to open and maintain an account. Finally, you can look forward to higher interest rates on your funds.

Final Thoughts on the Best Credit Union Business Accounts

The number of businesses and individuals joining credit unions has been steadily rising over the past few years. In 2020, credit unions in the United States boasted 126.6 million members, which is a significant leap from the 98.4 million members it had back in 2013. Today, these financial institutions have less stringent eligibility requirements. Plus, members enjoy lower fees and higher APY rates, as well as the power to influence the organization.

Now that you’ve read our comparative guide to the best credit union business accounts, we hope you’re confident enough to pick the credit union business account which will best meet the needs of your small business.

Best Business Bank Accounts by State

Below you will find an interactive U.S map that can help you locate and compare different banks and financial institutions that offer business accounts in your area.

July 21, 2022March 23, 2023

5 Best Online Business Checking Account (No Credit Check)

Person checking an online credit check form

Managing your business’s finance is no easy task–but it’s easier when you work with the right tools. An online business checking account with no credit check is one of the essential resources you need for your business to operate.

Opening a business bank account is necessary if you want to separate your personal finances from your company’s finances. It’s also a must if you want to get your business registered. The good news is that there are low-cost and efficient options to do it: Many banks offer business checking accounts that cost very little–or nothing at all–while also offering a broad set of banking services that fit small businesses’ needs just right.

Best Online Business Checking Account (No Credit Check)

Novo – Best Overall
BlueVine – Best for Earning Interest
LendingClub – Best for Cashback
Lili – Best for Tax Optimization
Wells Fargo – Best for Full Banking Services

Novo

Checking account integrates with other business tools

$50 minimum opening deposit
$0 monthly service fees

No credit check when opening an account

It doesn’t offer

E-mail only

Bluevine

Checking account with best Annual Percentage Yields (APY)

$0 minimum opening deposit
$0 monthly service fees

No credit check for LLC or corporation

Up to 1.5% interest for eligible customers

Phone or e-mail

LendingClub

Checking account with up to 1% cashback

$100 minimum opening deposit
$10 monthly service fees

Only when applying for loans

0.10% APY on balances of $5,000 and up

Online chat, phone or e-mail

Lili

Checking account with tax optimizer

$0 minimum opening deposit
$0 monthly service fees

No credit check when opening an account

Savings with 1% APY

E-mail only

Wells Fargo

Checking account with over 12,000 ATMs across the US

$25 minimum opening deposit
$10 monthly service fees

Second chance account available

It doesn’t offer

Phone or local branches

Novo: Best Overall

Pricing: $0/month

★★★★★

4.5

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Novo Review

If you are looking for a cost-efficient business checking account with no credit checks, Novo is the best fit for you. Its features cover all the basic banking services your small business might be looking for, all at a very low cost. In addition, Novo discloses all its fees.

Users can easily access the checking fee schedule on the website. While your business won’t benefit from an APY interest rate, the Novo checking account offers a broad set of features that will take your business’s finances to the next level, without adding any complexity to it.

As far as credit checks go, Novo makes it very clear that it will not check your credit history once you apply for an account. In addition, having an account with Novo does not affect users’ credit scores.

What really sets Novo aside is its integrations. Businesses can connect Novo with a number of tools, such as Shopify, Stripe, QuickBooks, and Xero. These features help businesses track their sales within payment platforms, sync transactions to accounting software, and easily send money overseas. Novo is also supported by Google Pay and Apple Pay–you won’t need to carry your plastic around when shopping for your business.

Also, Novo users get access to discounts and credits with partner companies such as Stripe, Booking.com, Google Cloud, and Gusto. However, Novo requires a minimum of $50 as an opening deposit. Also, there are charges for NSF (Non-Sufficient Funds) and UCF (Uncollected Funds) of $27 each.

Why we choose it: Novo is the best overall for small businesses as it offers an affordable business checking account, integration with business tools, and discounts with partner companies.

Low costs and no hidden fees
Easy transfers
A broad set of integrations and discounts with partner companies

Requires a minimum opening deposit
A $27 fee for insufficient funds charges
A $27 fee for uncollected funds returned

Pricing:

$50 minimum opening deposit
$0 monthly fees

Bluevine: Best for Earning Interest

Pricing: $0/month

★★★★★

4.0

Visit

Bluevine Review

Ranked as the best small business bank account for LLCs, the BlueVine business checking account comes in a close second in our ratings, as it offers a broad set of banking features at nearly zero costs–the company doesn’t require a minimum deposit to open an account and doesn’t charge monthly fees, insufficient funds fees or incoming wire fees.

One of the main benefits of the BlueVine business checking account is its competitive APY interest rate. While most services won’t even reach 1%, BlueVine allows businesses to earn up to 1.5% interest. This means that eligible users can earn 50x the US average on balances up to and including $100,000.

BlueVine lets you easily schedule one-time and recurring payments and manage bills. Furthermore, the mobile app allows you to check your balance, deposit checks and set up transfers. BlueVine can also be integrated with QuickBooks Online and sync your business’s bill information. The company also allows you to lock your card if it gets lost or stolen.

BlueVine falls short in a few things–the number of users for a single account. In other words, there’s no joint account, which might be a problem for multi-owner businesses.

Also, since it’s an online-only bank, account holders have no access to a physical branch, and in case you need to issue a deposit, there’s a $4.95 fee per deposit.

Why we chose it: BlueVine offers a free business checking account with interest-earning for users and unlimited transactions at no extra cost.

No monthly fees, minimum opening deposit or minimum balance requirements
Unlimited, fee-free transactions
Up to 1.50% interest rate

No joint accounts
It charges a fee per deposit
No branch access

Pricing:

$0 minimum opening deposit
$0 monthly fees

LendingClub: Best Online Business Checking Account for Cash Back

Pricing: $10/month

★★★★★

4.0

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LendingClub offers a comprehensive business checking account. In addition to the complete set of banking services, it also offers APY–although its interest rate is lower than its competitors.

The company also goes beyond digital banking: it offers fee-free ATM access and point-of-sale (POS) solutions, which can be great for small local businesses.

Applying to LendingClub is quick and easy: Users can open an account in about 10 minutes. Regarding credit checks, LendingClub only pulls a hard inquiry when users apply for a credit card, mortgage, small business loans, or other sorts of credit–and only once the loan is approved. Being declined for a loan does not affect the user’s credit score. Users can also run a soft inquiry and check their credit score with LendingClub. However, check out this article if you’re interested in bad credit loans.

LendingClub offers a perk that not many checking accounts offer: a cashback of up to 1%. Users can earn back up to 1% of their money on online and signature-based transactions made with their debit cards. In addition, users can earn 0.10% interest on APY. However, both of these benefits are only available for users that maintain an average monthly balance of $5,000 or more.

Why we chose it: LendingClub offers 1% cashback, unlimited transactions, and no fee for ATM withdrawals.

1% cashback and 0.10% APY interest rate
Unlimited transactions and fee-free ATM access
Digital invoicing and POS

A $100 minimum opening deposit
A $10 monthly fee, waived with a $5,000 minimum balance
Charges for both incoming and outgoing wire transfers

Pricing:

$100 minimum opening deposit
$10 monthly fees, waived with $5,000 minimum balance

Lili: Best for Tax Optimization

Pricing: $0/month

★★★★★

4.0

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Lili Review

The Lili Business checking account is perfect for one-person businesses who just need essential banking services. Lili has all the checking account features a small business might be looking for and a competitive APY interest rate.

But more than that, it also offers features that help small business owners manage their companies, such as tax optimization features and accounting tools. A fee-free overdraft of up to $200 is also available, which is excellent for managing cash flow.

The drawback of Lili’s business checking account is that it is only eligible for sole proprietors and single member LLCs. As an account with essential banking services, users won’t be able to access additional banking services such as additional debit cards and third-party integration. Like most online-only banks, users can’t make cash deposits.

Lili stands out from other checking accounts thanks to its exclusive features. The tax optimizer provides users with a write-off tracker, an estimated tax calculator, and automatic tax savings. In addition, Lili also comes with accounting tools such as invoicing software, transaction categorizations, quarterly expense reports, and receipt scan and save.

Concerned about bad credit or credit checks? Don’t worry–Lily discloses right up front on its homepage that opening an account will not hurt your credit score.

Why we chose it: Lili offers fee-free overdrafts at zero costs, no minimum balance requirements or minimum opening deposit, and exclusive features such as a tax optimizer and accounting tools.

No account fees and no minimum balance
Up to $200 fee-free overdraft
Tax optimization tool

Eligible only for sole proprietors and Single Members LLC
No cash deposits
No additional banking services

Pricing:

$0 minimum opening deposit
$0 monthly service fees

Wells Fargo: Best for Full Banking Service

Pricing: $10/month

★★★★★

3.5

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Wells Fargo offers a comprehensive set of banking services, which is a good option for businesses looking for broader features. The bank has different account plans too–you can start with the basic account and move up as your business grows. Its convenient payment options also allow businesses to pay vendors, employees, and bills using its full set of payment services.

With Wells Fago, businesses have access to a full range of services at the tip of their fingers: its mobile banking allows any time access to the account. Don’t want to carry around your wallet all day long? Simply add your debit card to your digital wallet and get access to fast and secure payments, as well as a variety of ATMs. Also, if you’re often on the go, Wells Fargo moves along with you–it offers alerts that help you monitor account balances, track purchases and cash withdrawals.

Finally, Wells Fargo offers “second chance” business checking accounts, meaning you can get access to basic banking services no matter your credit score.

For small businesses that are looking for a wider range of banking services, Wells Fargo is the way to go. In addition to a number of digital banking services, Wells Fargo also comes with the traditional perks small business owners might value: there are over 12,000 ATMs across the USA and approximately 4,900 branches from coast to coast in case there is any need for in-person attention. Withdrawals have a charge fee when using a non-Wells Fargo ATM.

However, the cons of opening a business checking account at Wells Fargo are the fees. As opposed to its online-only competitors, the bank charges a $10 monthly fee, unless users have at least a $500 minimum daily balance. Also, to open a business checking account at Wells Fargo, there’s a deposit of a minimum of $25.

Why we chose it: Wells Fargo makes an excellent option for businesses of any type and size that need several banking services and features at hand, it offers thousands of ATMs and branches across the country.

12,000 ATMs and 4,900 branches
24/7 fraud monitoring
Customized cards and checks

$10 monthly fee, waived with $500 minimum daily balance or $1,000 average leger balance
$25 minimum opening deposit
Charges fees when using non-Wells Fargo ATMs

Pricing:

$10 monthly fee
$25 minimum opening deposit

Methodology for the Best Business Checking Account with no Credit Checks

There are a number of online business checking accounts out there that companies in their early stages can rely on – some offer free business accounts. When writing this review, we chose the criteria on what we think are the most relevant aspects a business checking account should meet to cater to small companies’ needs.

Small businesses usually work on a budget, so fees we’re highly taken into account. Obviously, we took into consideration checking accounts that don’t run credit checks or don’t run a pull a heavy inquiry. Let’s dive into each one of them and the other criteria we considered for this rating.

No Credit Checks

Credit checks are exactly what their name suggests. It is a process that involves checking your credit score and credit history.

Some banks offer a “second chance” business checking account that does not run a hard credit check. Checking accounts are usually meant for everyday access to your own money and do not offer any sort of credit, applicants can easily open an account within minutes without facing any hurdles.

Low Costs & Transparency

Costs were highly taken into consideration–the lower the monthly fees, the better. We also took into consideration a low minimum deposit, as we understand small businesses don’t usually start off with high capital.

Another major criterion was transparency. Business checking accounts that ditch small letters and are open about their fee schedule got extra points.

Access to Basic Services

A good checking account should properly allow you to pay bills, make purchases, receive deposits, and carry out withdrawals. However, since most businesses these days are going fully digital, not offering these perks wasn’t considered eliminatory. We’d rather favor checking accounts that offer mobile banking with good UI/UX to get you going.

Extra Features

Managing a small business can be tough. So, one of the criteria we considered for this review was business checking accounts that offer features that help businesses manage their business, either via a wide set of integrations or other types of resources.

Business checking accounts that are able to connect and sync information with other software and services were highly considered, such as e-commerce platforms, accounting tools, and PoS machines.

Interest

We did take into consideration if the business checking account offered APY earnings. However, we consider this more of a perk.

Frequently Asked Questions (FAQs) for Business Checking Accounts

Do you have questions regarding business checking accounts? Here are a few Frequently Asked Questions answered.

What is a checking account?

A checking account is a tool that provides easy everyday access to your money. It usually comes with a debit card and allows you to easily move money around. It is different from a savings account, as not all have earning features.

What’s the point of a business checking account?

While personal accounts are meant for personal finances — such as deposits, payments, purchases, transferring money to a linked personal savings account, withdrawals at ATMs, and peer-to-peer (P2P) payments — business accounts are meant for managing businesses finances.

This includes receiving deposits from customers, paying suppliers and employees, paying taxes, and covering the business’s expenses. The main reason for opening a business checking account is to manage your business’s finances separate from your personal life.

What type of account is best for small businesses?

Business checking accounts are the best option for small businesses, as they offer the basic banking services every company needs. In addition to separating business from personal finance, these types of accounts allow companies to move money around and prepare for taxes and establish a financial presence.

How much does it cost to open a business account?

We have good news if you are a small business looking for a checking account. The cost to open an account can be next to zero. Many online banking services, such as those listed here, do not require a minimum deposit opening and don’t charge monthly fees.

However, depending on the type of financial service you are looking for, you might want to go with a business checking account with a broader set of services, which might incur fees.

What are the requirements for a business checking account?

When applying for a business checking account, you might have to provide some of your personal ID, such as a government-issued photo ID or Social Security Number or EIN. You might also have to provide some of your business’s documents, like your Taxpayer Identification Number (TIN) for the business or licenses.

Do I need a credit check to open a business bank account?

Most banks don’t often run a credit check to open a business checking account — but they will likely run a ChexSystems report. However, the bank might run a credit check and score check when applying for a loan or business line of credit.

Can you be denied a business bank account?

Yes, a bank can deny your business to open a business checking account if your history with checking and savings accounts doesn’t match the bank’s criteria.

So What’s the Best Online Business Checking Account (No Credit Check)?

For small companies that want to separate their personal finance from their company’s finance, a business checking account with no credit checks is the simplest, most efficient way to go. The options listed in this rating offer a complete set of banking services with low, near-to-zero costs–and they fit perfectly for the job.

We selected Novo as the Best Overall checking account because it has overall low costs and, most importantly, it is transparent about its fee schedule, which can be easily accessed via the Novo website. In addition, Novo does not run credit checks and offers a broad set of integration options, which take its service to another level.

Best Business Bank Accounts by State

Below you will find an interactive U.S map that can help you locate and compare different banks and financial institutions that offer business accounts in your area.

July 20, 2022November 23, 2022

How to Buy and Flip NFTs Like an Expert in 5 Simple Steps

The Web 3.0 revolution has introduced several means of making money online. Buying and flipping NFTs is one of them. Know that NFT trading volumes in 2022 are not riding the same high as in 2021, but that doesn’t mean they’re no longer a viable asset to flip. These digital assets are definitely here to stay.

If you want to learn how to buy and flip NFTs and earn profits, read this guide to the end. We’ll explain everything there is to flipping non-fungible tokens in layperson terms and discuss tried-and-tested strategies that’ll help you flip for a profit.

What is NFT Flipping?

Before we get to the step-by-step guide on how to buy and flip NFTs, let’s understand what exactly is NFT flipping? Flipping is a recently coined term that refers to buying an asset and selling it quickly for a profit. It’s not limited to non-fungible tokens only, you can flip any valuable asset including trading cards, cars, real estate, or antiques.

When it comes to NFTs, to flip just means to buy low and sell high. It usually refers to a short-term trade. If you hold an asset for a long time before selling, that’s not exactly flipping.

Graphic representation of exchange between NFT and Ethereum cryptocurrency — *Source: Pixabay*

There’s always a risk when you invest in any asset. Flipping is a relatively riskier means of earning money, but if you strategize, it can help you make a handsome amount of money in a short period of time. Remember that it’s not a sure-fire way to make money, but you’re likely to succeed if you tread carefully and follow a strategy.

How to Buy and Flip NFTs In 5 Steps

Is it possible to buy a non-fungible token in the morning and sell it at the end of the day and make a profit? Yes, absolutely. The key is to analyze the market properly and pick the right project before you buy. The entire process is really simple theoretically.

Screenshot of trending NFT projects on OpenSea — *Source: OpenSea*

Experience is an important ingredient of success when it comes to NFT flipping. Ask any successful flipper and they’ll tell you that some things only come with experience. Remember to start small and work your way up to more expensive non-fungible token projects.

This guide will focus on “true” flipping. We won’t focus on creating NFTs, buying early, or minting non-fungible tokens because that can be a whole lot of trouble for starters. Although minting is more profitable, we will focus on buying and selling on a secondary platform like OpenSea or Rarible, which is flipping in the true sense.

Step 1: Pick the Right Time to Buy NFTs

Just like the crypto trading market, the NFT market can either be going up (bullish) or be going down (bearish). You can easily analyze the market trend by looking at the week-by-week NFT trading volume on any credible website.

The best time to buy is when the market has bottomed out. In other words, when charts indicate that trading volumes have hit a record low and the trend starts moving up, that’s the best time to buy. This is because you are more likely to find non-fungible tokens at lower prices.

NFT trading volumes 2021-2022 — *Source: CRYPTOSLAM*

The key underlying principle is liquidity. When the market is trending upwards, it has higher liquidity, which in simple terms means higher demand. The higher the demand, the more likely you are to sell your digital assets at a profit. All in all, buy when the market has bottomed out and sell when the market is going up.

Step 2: Choose the Right NFT Project to Flip

The next step is to pick one or a few credible NFT projects. You’ll need to do your fair share of research, analysis, and decision-making to shortlist the best ones to flip. Here are a handful of factors that’ll help you choose a promising NFT project.

Number of NFTs in Circulation

You need to look at the basic rules of demand and supply here. Projects with a limited supply tend to have a higher value and hence, are more likely to earn you profit.

Floor Price

The floor price on a project is the lowest price you can purchase an item on. This should give you a general idea of how much each token costs and help you rule out projects that are out of your budget. If the floor price is above or near your investment budget, investing in that project isn’t financially viable. When you’re looking for new projects to flip, try to find a combination of a low floor price and a limited supply.

Utility

Does a project offer perks or special benefits to its buyers? For instance, some NFT holders get special discounts at select coffee shops while others get a chance to meet a celebrity. Such perks add to the credibility of projects and also make them more valuable.

Team Behind the Project

Best stay away from anonymous NFT sellers. A professional and trustworthy team behind a project adds to buyers’ confidence. This is much better than anonymously-run projects that run a much higher risk of loss or scam.

Quality of Art

Last but not least, every non-fungible token is essentially a piece of art. The more unique and high-quality the art, the greater its value.

Step 3: Buy Rare or Undervalued NFTs to Flip

Now that you’ve shortlisted projects to work with, now is the time to decide which NFT you are going to buy exactly. Purchasing is fairly simple. All you have to do is connect your cryptocurrency wallet to the NFT marketplace.

Note that you must have a compatible cryptocurrency to make a purchase. For instance, OpenSea works mainly on ETH. Most other non-fungible token platforms use any of the fastest-growing cryptocurrencies which makes the market more stable.

But things get complicated when it comes to deciding which to flip. Here are a few strategies to find the best NFTs to buy.

Explore the Trending NFTs Page

The trending page won’t always have the exact NFT you would flip but it gives you an overview of what projects are hot and what prices are tokens being sold at. If you’re lucky enough, you can stumble upon a good flipping opportunity right on the trending page. But in most cases, you will have to do your searching to make profits.

Screenshot of Top NFTs trending page on OpenSea — *Source: OpenSea*

Find Undervalued NFTs

This is where you need to know that flipping NFTs is not a get-rich-quick scheme. You’ll have to spend tons of time on project pages and scrolling through hundreds of items a day to find potential NFTs. Essentially, you are looking for undervalued items or tokens that you think will increase in value in the near future.

The best strategy is to first set the price filter from Low to High. This will display the cheapest NFTs on the project first. Not all tokens will be up for sale so click on Buy Now to see which ones are up for grabs.

Screenshot of Bored Ape NFTs page - How to find undervalued NFTS

Now scan the entire page to find outliers, items that are priced lower than others in the same project. For instance, if you see that the first couple of items cost 0.5 ETH and all the next ones cost either 0.9 ETH or more than 1, you have a chance at flipping 0.5 ones for a higher price. You could sell them at 0.89, for instance.

Sort NFTs by Traits

Here’s another method to find which NFTs to flip. Traits or Properties define how rare a non-fungible token is and hence determine its value. If less than 100 NFTs share the same trait, they are likely to cost higher than most other NFTs. Similarly, if you’ve spotted an undervalued item, always check out its traits to identify a specialty.

Suppose you see a Bored Ape NFT with a trait that less than 50 other items share, go to that trait page and see the prices of other items with the same rare trait. This will help you decide on a good selling price for your rare token.

Step 4: Set a Price

Buying the right article is only 50% of the job. Now you must set a reasonable price to make a profit successfully. For your digital asset to sell quickly, you want to price your item lower than the others while still making a profit.

Take the marketplace buying and selling fees into consideration when deciding the price. You don’t want to lose all your profit in fees. Use psychological pricing to increase the chances of selling as quickly as possible.

For example, if you want to sell something at 1.0 ETH, price it at 0.99 ETH. While this may look like a futile effort to you, charm pricing has pronounced effects. For starters, the value of 0.99 ETH is virtually the same as 1.0 ETH, but technically, the 0.01 margin helps you NFT appear before all the 1.0 ETH ones on an NFT marketplace. You want your item to appear as high on the left side of the page as possible when the price is set from Low to High.

Step 5: Flip!

If you follow the right pricing tactics and the market conditions are right, it won’t be long before you receive a buyer’s request. Until then you need to keep your digital assets in your NFT wallet. You can sell on the same day, but it can take up to 3 days for your NFT to sell at your asking price.

Best NFT Marketplaces for Flipping

As mentioned above, liquidity is the key to NFT flipping. You want to buy and sell your tokens on marketplaces that have a high enough demand so you can keep circulating and making profits. For this, you need to choose the right platform for flipping. Take a look at the top two NFT marketplaces and see which one you should work on.

OpenSea

Visit

Blockchain: Ethereum
Monthly trading volume: $5 billion+
Fees: 2.5% of every sale
Collection: 1,000,000+ assets

OpenSea is by far the best NFT marketplace for liquidity and security. It also has one of the most extensive NFT catalogs with almost every credible project present on it. As one of the largest marketplaces in terms of trading volume and asset collection, OpenSea is any NFT flipper’s first choice.

However, you must also note that since this is a popular marketplace, you will find a lot of competition. Almost every experienced flipper uses OpenSea to filter out promising assets so you may find it hard to find tokens to flip.

OpenSea is built on the ETH blockchain so you’ll find most tokens on it priced in Ethereum. However, it accepts more than 150 cryptocurrencies for payments.

Rarible

Visit

Blockchain: Ethereum, Flow, Tezos
Monthly trading volume: $1.56 million+
Fees: 2.5% of every sale and purchase
Collection: 400,000+ assets

Rarible is a newer NFT marketplace that gives emerging artists a chance to share their work in a new way. The platform features a vast range of digital assets including digital art, photography, music, games, domains, and metaverse assets.

It’s one of the more expensive marketplaces as it charges a 2.5% fee on every transaction from both the buyer and seller. The good thing about Rarible is that it’s supported by multiple blockchains including Ethereum, Flow, and Tezos. Its strongest selling point is that it lets users buy tokens directly with their credit or debit card. But this may involve a lot of fees and is not recommended for NFT flippers.

Rarible is not as big a market as OpenSea as of now. The platform aims to be a decentralized autonomous organization (DAO) which means it wants its users to have control over Rarible’s decisions and governance. This is something that sets it apart from the top marketplaces and may even give it the growth it needs to compete head-to-head with giant players like OpenSea.

Frequently Asked Questions (FAQs) for How to Buy and Flip NFTs

Here are some of the most common questions new NFT flippers have when they start buying and selling non-fungible tokens.

Can you make money from buying and selling NFTs?

Yes, you can. You can make a handsome amount of money from buying and selling NFTs, also known as NFT flipping. However, you can only successfully make profits if you have knowledge and experience in flipping. The goal is to buy rare and undervalued tokens and sell them off at a higher but attractive price and make a profit on them almost immediately.

What kind of NFTs sell best?

Rare NFTs with high utility, a credible team behind them, and high-quality art sell best. Projects with a limited supply always have a high demand and can easily earn you a profit. The credibility and trustworthiness of the team behind a project is also an important factor that contributes to its demand.

Are NFTs safe to invest in?

Like every other investment, NFTs have their risks and rewards. NFTs are definitely here to stay but whether a particular investment would be profitable or not depends entirely on the project.

When investing, choose a project that has a limited supply of tokens because scarcity drives demand, and hence the value up. The team running the project should be credible and trustworthy. If you make your decision after proper consideration, your NFT investment is likely to be safe.

Bottom Line on How to Buy and Flip NFTs

Flipping non-fungible tokens sounds like an easy way to make a lot of money. But it’s crucial for you to remember that there’s no such thing as a free lunch. You will have to research and spend the majority of your time finding promising projects and NFTs to flip. But yes, it’s a fun way to make money and will get easier with time as you gain more experience.

Start small and work your way up to minimize risk. Even if you do end up in a loss, you can still start over and try to avoid making the same mistake.

July 19, 2022November 23, 2022

7 Best Life Insurance Companies – Cost, Policy Types & Ease of Application

Best life insurance company's policy form on a desk with a calculator and pen

Buying life insurance is a key component of financial planning. However, it’s tough to choose the best life insurance with so many companies offering various policy types and features. If you’re looking to buy life coverage, look no further because we’ve got it all summed up for you.

7 Best Life Insurance Companies

State Farm – Best Overall
Banner Life – Best for Low-Cost Insurance
Bestow – Best for Ease of Application
Nationwide – Best for Customer Satisfaction
Lincoln Financial – Best for Term to Universal Policy Conversion
Haven Life – Best for Same-day Coverage
Northwestern Mutual – Best for Financial Stability

We considered several different factors to evaluate and rank the best life insurance companies. We considered the cost of insurance, offered policy types, ease of application, third-party ratings, and reputation in the process. Go through the methodology section for an in-depth look.

State Farm

$54.79

A++

1st

Term, Whole, Universal

Banner Life

$46.63

A+

N/A

Term, Universal

Bestow

$56.00

A+

N/A

Term

Nationwide

$59.94

A+

2nd

Term, Whole, Universal

Lincoln Financial

$57.81

A+

12th

Term, Universal

Haven Life

$81.16

A++

N/A

Term

Northwestern Mutual

N/A

A++

3rd

Term, Whole, Universal

*Sample monthly cost is for a healthy 35-year-old female for a $1 million coverage policy on a 20-year term. The sample cost gives a comparative overview of life insurance costs from different providers. The exact cost for you might be a lot different from the ones quoted here.

State Farm: Best Overall

Cost of Insurance: Low

AM Best Rating: A++

★★★★★

4.9

Visit

State Farm is best known for its car and home insurance products but its life insurance policies are also at the very top of the competition. With top-of-the-line customer satisfaction, several policy types, sound financial strength, and low premiums, it’s our Best Overall pick for Life Insurance companies.

State Farm holds an A++ rating from AM Best which is sound evidence of its financial health. On top of that, the coverage provider ranked No. 1 on J.D. Power’s Customer Satisfaction ranking, which is a very strong indicator of its high-quality service.

Although its premiums are not the lowest in the industry, it offers policies at affordable prices. You may find its term insurance more costly than other options, however. The provider currently doesn’t operate in Massachusetts and Rhode Island. Also, to purchase a State Farm plan, you have to connect with an official company agent.

Why we chose it: State Farm has an A++ rating from AM Best and has ranked No. 1 on J.D. Power Customer Satisfaction rankings which makes it the most credible insurer. This along with its low cost of insurance makes it our top best life insurance pick.

Affordable life insurance
Offers term, whole, and universal policies
Universal insurance available for ages up to 85 years

Policies can only be purchased from a State Farm agent
Not available in Massachusetts and Rhode Island
Most policies require medical exams

Cost of Insurance

State Farm is not the cheapest life insurance provider but its premiums are still on the lower end of the spectrum. Some may find its term coverage policies to be very expensive, especially if you’re in poor health.

Offered Policy Types

The insurer provides term coverage for 10, 20, and 30 years. It also offers whole life coverage which includes Limited Pay Whole Life and Single Premium Whole Life where you pay the entire premium once. State Farm’s universal life insurance includes Survivorship and Joint Universal Life.

Ease of Application

While online tools are available for all policies, you’d have to connect with an official State Farm agent to purchase some policies. You can easily check whether you can apply online for a plan on the website. State Farm’s site also has a premium calculator that lets you see what term insurance will cost for you after you input some information.

Banner Life: Best for Low-Cost Insurance

Cost of Insurance: Very Low

AM Best Rating: A+

★★★★★

4.8

Visit

Banner Life insurance now operates under the name Legal & General. It offers term and universal insurance policies at some of the lowest rates in the market. The same monthly cost, which is for a healthy 35-year-old woman, is only $46.63 for a $1 million coverage on a 20-year term. It’s the lowest monthly premium out of all our top picks.

This insurance company also enjoys a strong A+ AM Best rating. It wasn’t ranked by J.D. Powers in its Customer Satisfaction Index Ranking. However, some other credible sources suggest Banner Life has a low number of complaints, which means a high level of customer satisfaction.

Since it operates along with William Penn Life Insurance under the Legal & General umbrella, Banner Life covers all 49 states except New York, which is covered by Willam Penn. It has limited rider options which means there’s little space for customization. You may also find the website to be a bit old-fashioned and difficult to navigate, especially compared to other insurance providers.

Why we chose it: Banner Life has the lowest premiums for term life insurance policies. The low cost paired with its high customer satisfaction makes it an excellent option.

Very low-cost term coverage
Terms up to 40 years
Low number of complaints

Limited rider options
Low coverage for universal life insurance
Website tough to navigate

Cost of Insurance

As mentioned above, Banner Life is a very low-cost insurance provider, especially when it comes to term insurance policies. Note that getting a quote is a little tough and you might need to get an agent on call to acquire one.

Offered Policy Types

Banner Life only offers term and universal insurance policies. It offers a wide range of terms which start from 10 years and can go up to 40 with 5-year intervals.

Ease of Application

Banner Life, or better yet, Legal & General’s website is a bit old-fashioned but it does offer online tools for its coverage policies. You can’t buy insurance online and will have to get in touch on the phone to get an accurate quote and move things forward.

Bestow: Best for Ease of Application

Cost of Insurance: Low

AM Best Rating: A+

★★★★★

4.6

Visit

If you’re looking for a speedy and convenient life insurance application process and don’t want to be poked with needles for medical tests, Bestow is a good option for you. The company only sells term insurance policies and you can apply and buy a plan within minutes from the comfort of your home.

Bestow offers coverage of up to $1.5 million which is much higher than most other medical exam-free alternatives. However, it’s not flexible with its plans and has an applicant age limit of 60.

It’s a great option if you’re young and looking to buy insurance hassle-free. But if you’re a senior, Bestow’s premiums can get really expensive. It also offers very limited riders so there’s little space for customization.

Why we chose it: Bestow stands out for its fast and convenient online application process. You can apply and buy a plan in no more than a few minutes. It’s an excellent choice for young applicants who want to skip the bother of medical exams.

Medical exam-free coverage of up to $1.5 million
Speedy online application process
30-day trial

No riders
Offers only term life insurance policies
Enrollment age limit of 60

Cost of Insurance

Considering the convenience and quality of service offered by Bestow, its cost of insurance is quite affordable. However, as with any insurer, premiums go up with age. But since there’s an enrollment cap at 60 years of age, we don’t get a chance to see very high insurance premiums on Bestow’s site.

Offered Policy Types

The company only offers term policies from 10 to 30-year periods and has no riders. This is a major drawback for customers who prefer a wider range of options or may want to convert from term to universal later on.

Ease of Application

The ease of application Bestow offers is one of its strongest selling points. Bestow claims the entire application and purchasing process doesn’t take more than a few minutes which is attractive to busy individuals.

Nationwide: Best for Customer Satisfaction

Cost of Insurance: Lower than average

AM Best Rating: A+

★★★★★

4.5

Visit

Ranking second on the J.D. Power Customer Satisfaction Index, Nationwide offers a range of life insurance policy types including term, whole, universal, and variable options. The insurer is a well-established name in the finance industry for its wide variety of services.

Nationwide offers a range of other insurance and financing options from business insurance, and business banking services to auto and pet insurance products. Apart from its exceptional financial strength and customer satisfaction ratings, the insurer offers a lot of flexibility when it comes to policy types.

On top of that, it even offers medical exam-free policies with up to $5 million in coverage, arguably the highest in the insurance sector. You can also get discounter premiums on Nationwide’s auto or homeowners insurance if you are a life insurance customer.

Why we chose it: Nationwide is the only insurer after Banner Life with the highest customer satisfaction. Along with a wide range of policy types and riders, its incredible set of features makes it one of the best companies on this list to buy insurance from.

High customer satisfaction ranking
Medical exam-free coverage of up to $5 million
Discounts available if bought together with auto or homeowners insurance

Limited eligibility
Lacks live chat
Limited online quotes

Cost of Insurance

The cost of insurance from Nationwide is around or below the industry average. While the price factor doesn’t make Nationwide a particularly attractive option, its additional features and riders for different illnesses make it worth the cost.

Offered Policy Types

Nationwide’s wide range of policy types and additional riders make its product range one of the most comprehensive ones out there. It offers term, whole, universal, and variable policies. Term policies come in 10, 15, 20, and 30-year periods.

Ease of Application

You can get quotes online, but not for all policies on the insurance provider’s website. To apply, you need to get in touch with Nationwide or an insurance agent. You can’t buy a plan online but it does offer other conveniences like digital document processing and delivery.

Lincoln Financial: Best for Term to Universal Policy Conversion

Cost of Insurance: Lower than average

AM Best Rating: A+

★★★★★

4.2

Visit

Lincoln Financial offers flexible life insurance packages with high coverage caps and some no-medical-exam policies. It offers affordable premiums but is not the cheapest insurance provider out there.

All in all, the company is a great choice for anyone looking for term or universal life insurance or who would consider converting a term policy into a universal one in the future. Especially, if you’re a boomer (ages 57-72), Lincoln’s universal policies give you more time to build cash value and term policies offer higher maximum ages for guaranteed renewability or conversion to universal insurance.

The company has an A+ rating from AM Best so it’s good to go with on the financial strength front. But when it comes to customer satisfaction, Lincoln Financial ranks lower than the industry average. Its below-par performance on this front can easily dissuade a potential customer.

If you’re looking to buy insurance over the phone, you can expect a smooth and expedited policy buying experience. Through Lincoln Financial’s Tele-App process, an advisor meets with you over the phone and helps you purchase a suitable policy. You’re likely to qualify for a medical exam-free policy if you’re under 60 and want coverage less than $1 million.

Why we chose it: Lincoln Financial stands out for its flexible offerings for senior applicants, especially when it comes to term-universal policy conversion. That along with its exceptional over-the-phone application process makes it an insurer worth considering.

Affordable term life insurance
No medical exam policies available
Term policies can be easily converted to universal

Doesn’t offer whole life policies
Application process involves working with a Lincoln Financial professional
Low Customer Satisfaction ranking

Cost of Insurance

You’ll find affordable term life insurance policies from Lincoln Financial, however, its universal ones aren’t as low cost. That said, there are cheaper options available on the market.

Offered Policy Types

The company offers term and universal life insurance. The term policies include Lincoln TermAccel® and Lincoln LifeElements® which are available in 10,15, 20, and 30-year options. Permanent policies include Universal, Indexed Universal, and Variable Universal.

Ease of Application

Lincoln Financial offers online tools for all its policy types. On top of that, its Tele-App process makes the insurance application process a cakewalk.

Haven Life: Best for Same-day Coverage

Cost of Insurance: High

AM Best Rating: A++

★★★★★

4.0

Visit

Haven Life is an online-first insurance company that offers high coverage caps for online applications and medical exam-free options. It was established in 2014 which makes it a new addition to the insurance sector but with an A++ rating from AM Best, we can trust its credibility.

Haven Life isn’t a part of the J.D. Power ranking as it’s an online service primarily powered by MassMutual which ranks seventh. It has much fewer customer complaints than the industry average.

The coverage company stands out when it comes to speed of service, convenient application process, and the possibility of same-day coverage. However, since it doesn’t offer any other policy type other than term, customers have limited options. Also, there’s an applicant age limit at 64 years, which is still higher than Bestow’s limit at 60.

Why we chose it: Haven Life is powered by MassMutual, an industry giant that ranks 7th on the J.D. Power customer satisfaction index. However, the best part about it is the company’s quick service which also makes it possible for customers to get same-day coverage.

Apply online for up to $1 million in coverage
Offers same-day coverage
Very few customer complaints

Offers only term life insurance
Limited riders
Applicant age limit at 64

Cost of Insurance

Haven Life’s premiums are higher than most other companies on our list. The sample monthly cost lies at a high $81.16 compared to Banner Life’s $46.63 or State Farm’s $54.79. The prices may also increase exponentially if you’re a smoker or have any other health condition.

Offered Policy Types

It only offers term life insurance policies which include Haven Term and Haven Simple. Haven Simple offers coverage up to $500,000 and requires no medical exam. But if you want higher coverage of up to $3 million, you’d have to go with Haven Term which mostly comes with medical exams.

Ease of Application

Haven Life is a digital insurance company which means it pays importance to a seamless online application process. You can apply online for coverage up to $1 million. The company also claims to have a quick approval process that can give you same-day coverage.

Northwestern Mutual: Best for Financial Stability

Cost of Insurance: N/A

AM Best Rating: A++

★★★★★

3.8

Visit

Northwestern Mutual is one of the most well-established insurers out there. It was established in 1857 and has been serving in the American finance and insurance market even since. Its years of experience also make it the largest seller of life insurance in the country.

The provider isn’t very transparent with quotes which is a huge drawback for any insurance provider. Unlike other companies on this list, Northwestern doesn’t have a premium calculator and you have to get in touch with an agent to see how much insurance will cost. This can take a day or two in back and forth compared to getting an instant quote on their site.

Northwest ranks third on J.D. Power’s Customer Satisfaction Index which makes it the best in the industry after State Farm and Nationwide. But it has its drawbacks too. Unlike modern insurance providers like Bestow and Haven Life, you can only purchase a plan through agents.

Why we chose it: Northwest Mutual is one of the oldest insurance companies and has an A + + rating from AM Best which means it’s very stable financially. On top of that, it has a high customer satisfaction ranking making it an option worth considering.

Highest financial strength rating
High customer satisfaction
Multiple policy options

Limited pricing information on website
Plans can only be purchased through an agent
Most options require a medical exam

Cost of Insurance

Northwestern Mutual offers no information on its premiums at all. You will have to contact an agent in person to get a quote.

Offered Policy Types

This company offers term, whole, universal, and variable universal life insurance. It also offers a range of optional riders, more than other insurers on this list, so you can easily access benefits under special circumstances.

Ease of Application

Ease of application is one area Northwest Mutual lacks in. You can’t get a quote online and will have to get in touch with an agent, whereas State Farm offers online tools. Most insurance options require you to take a medical exam. Note that not all life insurance products are available in all states which makes things more complicated than they need to be.

Methodology for the Best Life Insurance

Picking an insurer for life insurance can be very difficult given the variety of factors you need to consider and the countless options available. However, we at Management Library use our research and industry expertise to help you make the right decisions. We carefully considered data from multiple sources on several different factors to come up with this list of life insurance providers. Here are the criteria we considered when ranking the best life insurance companies:

Cost of insurance: The price factor most often weighs the heaviest when it comes to making any financial decision. The insurance providers that offer the same or higher value coverage for a lower premium rank higher than those with higher premiums.

Offered policy types: Customers don’t want to have limited options to choose from. Plus, they also want the freedom to switch between different policies in the future. Companies that offer more policy types and freedom rank higher than those with limited options.

Ease of application: Convenience and speed of service are important factors. Customers prefer seamless online application and approval. Plus, no medical exam alternatives are preferred over those that require it.

AM Best rating: AM Best is a credit rating agency that ranks insurance companies for financial strength on a scale of A++ (superior) to D (poor). We only chose the companies with a rating of A or higher to include in our list.

J.D. Power Customer Satisfaction Index ranking: J.D. Power releases an annual study on the top life insurance providers and ranks them according to the customer complaints and satisfaction statistics it compiles from authentic sources. The ranking is a valuable measure of how well an insurance company performs on the customer satisfaction compared to the industry average.

Bar chart representing J.D. Power 2021 US Individual Life Insurance Customer Satisfaction Index Ranking

Reputation: Last but not least, we considered the historical reputation of each company. This includes how long they’ve been in business, any significant problems they’ve had over the years, and their performance when it comes to other services in the financial and insurance industry.

Frequently Asked Questions (FAQs) for Best Life Insurance

Here are some of the most commonly asked questions about the top life insurance companies.

What is the most reputable life insurance company?

Northwest Mutual and StateFarm are two of the most reputable life insurance companies. Both have an AM Best rating of A++ and rank third and first respectively on the customer satisfaction ranking. Both companies have been operating for quite some time too.

What is the average monthly cost of life insurance?

The average monthly cost of insurance primarily depends on your age, gender, and health conditions plus the coverage and insurance term period you need. If you’re a 35-year-old female in good health looking for $1 million in coverage over a 20-year term, you can expect the average monthly cost to be $43.

What’s an insurance policy rider?

A rider is an additional coverage feature you may add to a life insurance policy. More often than not, it comes at an additional cost. Insurance policy riders help you cover life events or bring benefits for critical health conditions that the standard policy does not.

Bottom Line on the Best Life Insurance Companies

You have quite a few very good options to choose from. While different insurance companies suit different needs, State Farm is our best overall choice for its very low cost of insurance and strong third-party ratings. But if you’re looking for a lower cost, you can go with Banner Life.

However, the cost is not the only factor. You must also consider the insurer’s financial stability, customer satisfaction rating, and the policy types it offers. We’ve ranked each of the best life insurance companies according to what they’re best for to make your choice simpler.

July 18, 2022February 7, 2023

The 6 Best Background Check Services in 2023

A young woman using a magnifying glass to illustrate the best background check services

When you need in-depth information about someone, a background check is the simplest and quickest way to access the information you need. The best background check services can reveal criminal history, education, financial standing, and a lot more about an individual.

The information attained through a background check is culled from public records. This means it is technically possible to find the information you need on your own. However, people typically find that the time, effort, and money it requires to perform this type of research independently is extensive, making a professional background check service the better option.

Choosing the best background check services can be challenging. This guide gives you the facts you need to know to make an informed choice.

6 Best Background Check Services

Truthfinder – Best Background Check Service Overall
Intelius – Best for Single Reports
Instant Checkmate – Best for Criminal Activity Reports
Spokeo – Best for Ease of Use
PeopleFinders – Best for Personal Use
BeenVerified – Best for Tracking New Information

In researching background check services, we focused on the essential elements that contribute to the usefulness and reliability of each company and the features they offer. We looked at factors like pricing, the accuracy of results, customer support, delivery time, and comprehensiveness of results to prepare this buyer’s guide. Read our complete methodology below.

Truthfinder

$4.99 – $27.78

4.8

Yes

Intelius

$0.95 – $39.95

4.8

Yes

Instant Checkmate

$35 Standard/

+$19.95 per report for Premium

4.5

Yes (+$1.99)

Yes

Spokeo

Searches limited by price, which varies widely:

$24.95 – $119

4.0

Yes

PeopleFinders

$1.95 – $29.95

4.0

BeenVerified

$26.89

4.0

Yes

Truthfinder – Best Background Check Service Overall

$4.99 – $27.78

★★★★★

4.8

Visit

Truthfinder – Best Background Check Service Overall Review

Truthfinder earns its place as the best of the best background check services by offering a full slate of features. This service returns reports that give information on a subject’s current location, financial status, educational history, close acquaintances, and social media accounts.

With Truthfinder you can choose everything from a simple people search and reverse phone lookup to a detailed background check, including criminal history. The service will check the sex offender registry and even give results from the dark web.

Scans the dark web
Color-coded mobile app
Checks social media accounts
User-friendly reports
Membership includes unlimited searches

Search can be slow
Cannot purchase single reports

Accuracy

Even the best background check services cannot guarantee that their results are 100% accurate. A service can only report the information that is held in the public records they are mining.

Truthfinder produces reports containing the most accurate and current information available within its databases. Truthfinder has earned an A+ rating from the Better Business Bureau based on its business transparency, compliance with the law, and relentless efforts to solve customer complaints.

Customer Support

Truthfinder customer support is available by phone from 7 a.m. to 7 p.m. Pacific Standard Time. For customers living in other time zones or in need of support outside of phone hours, you can contact the service through email.

Truthfinder balances this shortcoming by providing an extensive amount of information on its site. Many customer questions may be answered without the need for customer support personnel.

Delivery Time

Truthfinder delivers a report to users within an average time of five minutes. This is not as quick as some services with nearly instantaneous response times; however, when you consider the comprehensiveness of this service’s reports, it is reasonable. The best background check services must balance speed with the depth of information.

Price

Truthfinder is completely membership-based. It does not offer individual or one-off searches or background checks.

Its membership prices are competitive within the industry with a monthly cost of $27.78. It is worth noting that this fee includes unlimited access to all of Truthfinder’s search and background check features for the month of membership.

It does offer a separate lower-cost membership for those only seeking a simple people search. That cost is $4.99 and includes unlimited searches throughout the membership period.

Comprehensiveness

Truthfinder reports are extensive and provide a great depth of information. While other services offer a selection of features, Truthfinder shows itself to be one of the best background check services by providing a one-stop option for multiple background check categories.

Whether you are seeking to reconnect with an old acquaintance or find yourself needing extensive information on an individual, Truthfinder has the tools to answer your most pressing questions.

Additionally, Truthfinder keeps its customers’ privacy intact by offering the ability to perform deep web scans and institute caller identity checks on its smartphone app.

Intelius – Best Background Check Service for Single Reports

$0.95 – $39.95

★★★★★

4.62

Visit

Intelius – Best Background Check Service for Single Reports Review

Intelius has been in business for 15 years, making it one of the most established best background check services on this list. They have many purchase options, including a people search, background checks, and the opportunity to subscribe to identity protection.

Intelius is one of the few background check services that gives customers the option to purchase a single background check rather than signing up for a membership. For those needing a greater volume of checks, they have multiple membership plans.

Single report purchase option
Identity protection available
Comprehensive database
Reverse phone and address lookup

Confusing site navigation
Confusing price structure
Limited customer support

Accuracy

Intelius made a change in its platform a few years ago. Customer response has not been completely positive. There have been numerous complaints of reports containing inaccurate or dated information.

The company does have an A rating from the Better Business Bureau, which is an improvement over their ratings in the past. This positive rating indicates a high level of business transparency and integrity.

Customer Support

Intelius customer support is available on weekdays by phone from 7 a.m. until 5 p.m. Pacific Standard Time. Beyond this, customers can email the customer support department with questions. The company states that emails will be answered at the earliest opportunity.

Delivery Time

Given the variety of service plans that Intelius offers, their turnaround time on completed reports vary slightly. The simplest people searches and email lookups will take approximately five minutes. More intensive reports including criminal record searches and full background checks can take up to 30 minutes to complete.

Price

Intelius’s premier plus membership gives customers unlimited access to most of their services and runs $29.95 a month. Identity theft protection is an added service that costs an additional $20.00 monthly.

Unlike many of the best background check services, Intelius customers have the convenience of forgoing a membership if they only need to look into a single person, but the pricing here can get confusing.

A simple people search will reveal basic information and costs $0.95. If you want to add an email lookup or a social network search, the cost jumps to $6.95. A single criminal record search costs $29.95, while a single full background check runs $39.95.

Considering that not all the lower-tier services are included in the price of the upper-tier services, ordering the type of search you want can be both pricey and confusing.

Comprehensiveness

Intelius has grown into a massive data bank over the years and now pulls information from more than 20 billion public records. This enables them to offer their customers a myriad of services including people search, background checks, social media monitoring, educational achievements, and criminal records.

Some users have complained that the company’s many levels of service are confusing, however. There isn’t a clear all-inclusive subscription. Customers must choose between doing a people search, a separate social media search, or yet another search for property records. Moreover, all of these are separate from a background check.

Additionally, customers can pay an extra fee to add an identity protection component to their services. Although Intelius offers a wide range of services, the choices might be overwhelming to casual users.

Instant Checkmate – Best for Criminal Activity Reports

$35 Standard/+$19.95 per report

★★★★★

4.4

Visit

Instant Checkmate Review

Instant Checkmate was founded in 2010 and is an established and widely used background check service. It offers a simple interface that customers find easy to use.

Unlike many of the best background check services, Instant Checkmate does not require additional fees for a detailed criminal history. This info is included in the standard subscription price.

Criminal background checks included with a standard membership
Sex offender mapping
Full-featured mobile app

Slow loading reports
Overly promotional FAQs and knowledge base
Misleading paywall

Accuracy

Instant Checkmate provides accurate information; however, customers have complained that reports are sometimes limited in scope. On its site, Instant Checkmate claims that it utilizes a minimum of two reputable information sources that are checked against one another for accuracy.

Customer Support

Customer service hours are limited. Customers can reach help agents during working hours only via phone or email. Instant Checkmate has a limited FAQ page and knowledge base for customers looking to solve problems independently.

Delivery Time

Report generation typically takes five minutes or more, which is standard among the best background check services. However, users must remain at the computer during report generation as Instant Checkmate utilizes a series of pop-up questions throughout the process to refine results.

Price

Instant checkmate offers one of the simplest pricing plans of all the best background check services. Their standard membership runs $35 a month and includes a robust criminal records check. While this price is somewhat high, the ease and inclusivity of the subscription plan are appealing.

To obtain information on property ownership and liens, you need to upgrade to a premium service, which costs an additional $19.95 per report. If you need this type of information, and especially if you need it for several individuals, this added cost could make the price prohibitive for some.

Comprehensiveness

Customer reviews in this area are somewhat mixed. While users report that general information is sometimes shallow, it is notable that the information pertaining to criminal records is extensive.

Instant Checkmate stands out among the best background check services for the thoroughness of its criminal records check. This service goes beyond reporting criminal charges and convictions and will often find details about the crimes that are invaluable to the search, such as case numbers and sentencing.

Instant Checkmate also does a good job related to sexual offender identification. Reports may include maps and even pictures of known offenders within a certain geographic area.

Spokeo – Best for Ease of Use

$24.95 – $119

★★★★★

4.3

Visit

Spokeo – Best for Ease of Use Review

Spokeo started out as a site that specializes in checking information on social media sites. It has grown steadily since then and now offers many of the industry-standard features that are common with the best background check services.

Spokeo is known for its intuitive interface. It also offers some unique services that other best background check services do not, such as a family tree feature to identify genealogical connections.

Phone app gives push notifications
“Insights” feature offers interesting details
Simple user interface

Pulls from a relatively small database
Reports are not in-depth
Reveals limited financial information

Accuracy

Spokeo garners its information from public resources such as real estate listings and social media. As a background check service is only as accurate as its database, there are sometimes issues of Spokeo searches returning inaccurate or out-of-date information.

Customer Support

Spokeo customer service is available by phone or email every day from 5 a.m. to 8 p.m. You can also utilize their live chat feature Monday through Friday from 8 a.m to 5 p.m.

Delivery Time

Spokeo is one of the fastest services on our list of the best background check services. Spokeo typically compiles a complete report within one to five minutes. Customers state that searches are often completed in an even shorter amount of time.

Price

For the individual user, Spokeo offers a monthly membership for $24.95. This plan is limited to 100 searches throughout the month. If you want to upgrade, it will cost an additional $21 per month.

For businesses, Spokeo offers memberships with a wide range of fees that depend on the number of searches needed per month. Subscriptions start at $35.95 a month for 200 searches and increase to $119.95 for 1,000 searches.

Outside of its membership plans, Spokeo offers one-time, simple people searches for $0.95 each.

Comprehensiveness

Although Spokeo offers many of the same search types as the other best background check services, the information its reports provide does not tend to be expansive. In particular, criminal record checks and financial information are likely to be minimal.

However, Spokeo offers niche services that are hard to find elsewhere. It continues to excel at social media mining and uncovers interesting miscellaneous facts such as hobbies and dating patterns. It is also the only one of the best background check services to offer a family tree builder feature.

PeopleFinders – Best for Personal Use

$1.95 – $29.95

★★★★★

4.2

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PeopleFinders – Best for Personal Use Review

PeopleFinders has an impressive database of over 40 billion records and 6,000 data sources that it pulls from. As the name would suggest, this contender for the best background check services excels at simple people searches. It is a go-to resource for individuals looking to reconnect with out-of-touch family and friends.

Individual searches or memberships available
Choice of simple search or full background check
Rapid results

Doesn’t investigate social media
Doesn’t check employment history
The website is not intuitive

Accuracy

PeopleFinders is careful to point out on its website that even the best background check services cannot offer a full guarantee that all information is accurate. The service does pull information from over 6,000 resources.

Customer Support

PeopleFinders’ customer support hours are limited to weekdays 7 a.m. to 6 p.m. Pacific Standard Time and weekends from 7 a.m. to 3:30 p.m.PST. You can also reach out to customer service agents via email.

Delivery Time

Like many of its competitors, PeopleFinders has a report compilation time of about five minutes or less.

Price

PeopleFinders offers users both memberships and single report options. Their premium level monthly subscription cost is $29.99. For single reports, a basic people search costs $1.95 and a full report runs $9.95.

Comprehensiveness

PeopleFinders is great for personal uses such as locating and contacting old friends or distant family members. When it comes to background checks, PeopleFinders does not report on some details that are common with many of the other best background check services.

It does not reveal any employment history, nor does it give results from any social media resources.

BeenVerified – Best for Tracking New Information

$26.89

★★★★★

4.1

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BeenVerified – Best for Tracking New Information Review

BeenVerified ranks in multiple top 10 lists for best background check services. This company has been around for over a decade. They are known for compiling consistently sound reports that are well-organized and easy to interpret.

Well-organized reports
Information tracking features give instant alerts
App includes incoming number identification

Lack of details prior to purchasing
No option to purchase single or specific reports
No demo report
Knowledge base and customer service are lacking

Accuracy

The accuracy of BeenVerified’s reports is in line with many of the best background check services on this list. The service gives customers notice on their website that their accuracy will be impacted by the public sources they use to compile reports.

BeenVerified currently has a B rating with the Better Business Bureau. Although it does appear that the service is responsive to customer complaints, this is still the lowest BBB rating of all services on this list.

Customer Support

The customer service team at BeenVerified is available during business hours on weekdays only. Unfortunately, the FAQ and knowledge base are not well developed, so customers have no viable customer support option when phone support is not available.

Delivery Time

BeenVerified has a wait of five minutes or less while a purchased report is being compiled.

Price

BeenVerified has a refreshingly simple pricing strategy. It offers all its services for a monthly membership fee of $26.89. If you choose to make a three-month commitment, the membership fee drops to just $17.48.

While its simplicity in pricing is welcome, it is unfortunate that BeenVerified does not allow for the purchase of single reports.

Comprehensiveness

BeenVerified is a solid choice for those looking for the best background check services. Its well-organized reports include basic information as well as financials and detailed criminal history. Its information tracking feature assures that you always have the most current information.

Methodology for the Best Background Check Services

Reputation for providing accurate information
Comprehensiveness of report types offered
Affordability
Availability and quality of customer support
Ease of use
Additional services offered

Although we used a straightforward rating system, it is important to note that any one of these excellent companies may be the best choice for a particular customer.

Frequently Asked Questions (FAQs) for Best Background Check Services

It can be stressful deciding which of the best background check services is right for your needs. Most people have unanswered questions about what a background service entails. Here are answers to some of the most common questions about these services.

Will People Be Notified if I Run a Check on Them?

When you subscribe to one of the best background check services, there is no public record of your activity. The people you are looking into will not be aware that you have used the service or of what information you gained through the report.

Is it Legal To Use a Background Check Service?

Background check services like those listed in this guide pull their information mainly from resources that are open to the public. Public records are accessible to anyone who has the time to do the research and the knowledge of where to look.

Even a lot of information we commonly think of as sensitive, such as criminal and court proceedings, is part of public record unless the court has sealed the records.

Reports generated by the best background check services do not reveal legally private information such as health records. Therefore, it is legal for them to reveal what information they offer you upon your request.

How Reliable is the Information From an Online Background Check?

Each of the companies within this guide has a history and reputation for providing accurate information to their customers. However, their accuracy is impacted by the databases from which they are working. They can only report the facts that are provided to them.

The best background check services use large databases and multiple resources to obtain information. They also cross-check information to produce a report with the most accurate and up-to-date information available in the public sphere.

Can I Run a Background Check on Myself?

Yes, and it’s a great idea. Although you are intimately aware of all the details of your life, it’s hard to know which pieces of your past have become a part of the public record. Running a background check on yourself ensures that you’re aware and prepared to respond to any regrettable or inaccurate information.

Why Would I Want To Use a Background Check Service?

There are myriad reasons you may feel the need to know more about someone. The world is full of people you need to be sure you can trust.

Parents could have concerns about their child’s fiance. You may have a new neighbor that you want to make sure has a clean criminal record. You might be considering a new roommate and want to be sure they are financially stable. Perhaps you simply want to reach out to an old friend or family member you’ve lost touch with.

A simple background check has the potential to address all of these concerns within minutes.

How Do I Decide Which of the Best Background Check Services to Use?

Choosing the best background check services depends on the reason behind the search. Your goals will determine the type of features that will best suit your needs.

Added features like dark web scanning and other identity protection measures may not be of concern to the average customer. For businesses dealing with sensitive information, though, it could be crucial. In these instances, services like Truthfinder or Intelius might be the optimal choice.

Individuals focused on reconnecting with classmates or finding distant relatives may not require the expansive services offered by a background check service like Intelius. Services that focus on simple people searches such as Spokeo or PeopleFinders could be a perfect fit.

Not every background check service includes a search of finances, educational achievements, or robust criminal records reviews. If such details are important for you to know, choosing a background check service that specializes in this type of information will deliver the best results.

The Best Background Check Services Offer Convenience and Peace of Mind

Much of the information you wish to obtain about the people in your life can be found within public records. However, accessing and sifting through this mountain of data can take time and resources you do not have.

The best background check services offer a simple, fast and affordable way to pinpoint the information you’re looking for. You need only supply basic details about a person of interest, and they can search millions of public records and utilize thousands of resources to deliver a comprehensive report to you within minutes.