It schedules your emails to send it later. Basically, it queues up your emails on Google server to send it later

You do not need to have an internet connection, for the time you scheduled it, you just need internet to schedule your emails, once it is scheduled it will automatically send at a saved time.

No need to have your computer left on, as it is qued up in Googles' server.

You can always edit or delete your scheduled emails.

Also, no need to logged in to any device, even if you logged out, the email will be sent at the appropriate time.

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