What is Anchor Text and Types and Importance in Backlinks and SEO | Best SEO Advice

Many of us are willing to know what is anchor text in SEO and how to create backlinks using various anchor text and types of Anchor Text.
How to google rank pages based on anchor text and what are the important types of Anchor text you have to create.

What was the earlier google algorithm for anchor text factor in ranking pages and how google did changes with anchor text and relevance backlink strategy?

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