Personal Finance Community - Seedly
Seedly logo
 

Let's Talk Finance

Ask for opinions and get answers from other Singaporeans.

Recent

Unanswered

Trending

Editoral

Content personalised for your Personal Finance goals

Follow what you love and we’ll curate the best content for you.

personal_feed

Already have an account? Login here

Which platforms allow for the buying and selling of Bitcoin in terms of MAS regulations, lowest fee, ease of use?
Hi Anon, You can check out Binance.sg, has the lowest comissions and best spreads, but a not so friendly UI and no mobile app available at the moment, and no option for direct bank transfer, you'll have to go through via Xfers. Then theres Coinhako, with a slightly higher comission, a spread that isn't as good as Binance, but still decent, but a much better UI. There is an option for direct bank transfer, you can use Xfers too. Another exchange that supports SGD is Gemini, highest comission among the three for lower amounts, but a spread that is comparable to Binance. Has the best UI/UX in my opinion, and also only has Xfers as a deposit option. Exchanges that have Xfers support are indirectly tied to MAS regulation as MAS regulation states that individuals can trade a maximum of 30k annually under the Payments and Services Act. So once you hit the 30k cap with Binance.sg, you can use Binance.com (they are seperate entities). Binance.com has a mobile app unlike Binance.sg A popular option abroad is Coinbase, it has a great UI, but I wouldn’t recommend it as the only funding option is via cards and there’s a high fee of ~4%

0

What are the risks behind BlockFi Interest Account?
Hi Jiayee, A big downside is that there is no insurance coverage (FDIC/SIPC). Traditional deposit accounts more or less always have insurance coverage capped at a certain amount. Another potential risk is security, there has been a data breach last year, you can read about it here: https://blockfi.com/wp-content/uploads/2020/05/Incident-Report-05-14-20.pdf This is not necessarily related to BlockFi, but some of the coins they support have an ineherent risk. For example, Tether is no longer backed one-for-one by the USD, but instead now are backed by loans. This carries default risk. Thus, I would reccomend another coin like USDC which is actually backed fully by USD. And like you mentioned, there is currency risk, if the USD continues to depreciate it will eat into your profits / make you lose capital.

0

Bitcoin is hot again: What's different this time?

Bitcoin has hit all-time highs recently, and it's not due to the same reasons that led to a massive rally in 2017.

2155

16

14 more comments

Spking Lee

Spking Lee

2w ago

Hi Rahul, good day. Is there a good cryptocurrency robo-advisor platform that could help a new investor build a healthy portfolio in Singapore?
Rahul Wadhwa

Rahul Wadhwa

1h ago

Hi Spking, so sorry for the late reply. Unfortuantely, I think the options are quite limited in Singapore. The closest I can think of is the crypto.com app, whereby you can choose a risk level and they will allocate your funds for you, but for some reason, they have put new account opening from Singapore on hold. You can also check out: https://crypto-ml.com/ You can also check out Gemini, whereby you can set up a recurring buy order, and they have integrated with Xfers, and have an excellent security reputation. You can use my referral code when signing up; gemini.com/share/g5xgz5hx , once you trade 100USD worth, you will be rewarded with USD10 worth of bitcoin. Downsides are: The coins available are limited (main ones like BTC and ETH are supported, but growing altcoins like Polkadot and Cardano are not), and you'll have to do a manual deposit every now and then once your account balance runs out, and you still have to do your own research on which coins you would like to purchase, unlike a roboadvisor where you fill in your risk level and they do the allocation for you. You can also check out BlockFi (more like a deposit account rather than a roboadvisor), where you can earn interest on your crypto, I've explained some of the risks here: https://seedly.sg/questions/what-are-the-risks-behind-blockfi-interest-account
Post
An introduction to options

What are these contracts?

163

7

5 more comments

Thomas Chua

Thomas Chua

18h ago

Love this opinion! I'm prioritizing learn options as a tool to complement long-term investing for 2021. Keep writing! Happy to read more.
Rahul Wadhwa

Rahul Wadhwa

2h ago

Thank you Thomas! I saw some of your articles too, great reads. I'm looking to incorporate options too!
Post
How would you invest $92k in stocks in the current climate - would you go after dividend or growth stocks?
Personally, if you're not close to retirement, go for growth instead. It doesn't have to be particularly aggressive like ARKK, even an S&P 500 ETF would return well. Considering your situation, you can temporarily increase your DCA amount until the money is all deployed into the market (maybe keeping aside a sum for any sudden crashes/buying opportunities). To DCA over too long a period ( 12 months), you'd likely lose out to just a lump sum investment. After all, it is quite logical if you think about it using an extreme example. Imagine having 1 mil and putting in only 1k into the market every month. After 2 years, you'd still have 76k on the sidelines. And since markets tend to trend upward, all of the money on the sidelines are missing out on the returns. So if I had to advise, you can DCA over 4-8 months inorder to ride through the volatility of the current markets.

0

Is it a trend now that the company is trying to give you a lot of workload and make you resign yourself rather than retrench you?
To me you don't have to worry about whether there's such a trend or not. Most of the time, a company that is not expanding their manpower is due to many factors: 1. Not enough candidates in the market to hire 2. Business performance is not looking too good, can't feed too many mouths 3. Management is too busy with other stuff 4. Management is not convinced with the ROI (lower opportunity costs when hiring for other money-making departments) You have to think that constantly pulling in new resources to split the workload equates to inefficiency with the processes at one point. This also highlights scalability issues in the business. Maybe you can think of ways to automate mundane tasks or find methods to make yourself more efficient. If you have tried your damndest and you're still not getting the appreciation you need, sometimes it's best to leave "well enough" alone. There are many opportunities out there anyways. Businesses with old and inefficient process is bound to die off unless management gets a big jolt of wake-up call in time. Then again, this is the business owner's problem to worry about, not yours.

2

What are some things to consider about the company before applying for a job there? I saw a job ad by a start-up, DAS holdings, but am having reservations (unstable job..?) Any pointers appreciated!?
Do not be so quick to judge that a start-up might be an unstable career for you. It really depends on a lot of factors. In fact, working in a start-up might be a very unique experience for you. Startups usually need to grow fast and you might just have the license to show off your skills, etc. The best way to really understand the various pros and cons is to commit to the application, and of course, the subsequent interviews/meetings. Some questions to ask yourself would be are you interested in the goals, mission/vision of the company? Do a little bit of research before making a decision! All the best!

0

If you've just joined a new company for about a month and a highly popular, high growth company sends you an InMail on LinkedIn to say "hey we we have this position open and we think you're cool"...?
Hi there, first and foremost, congratulations on joining a new company! Receiving an InMail on LinkedIn for a position in a highly popular company could mean that your profile/resume did indeed caught the attention of the recruiter/hiring manager. In my opinion, if you’re really interested in the opportunity, do highlight your interest in the company and the role and show that you’re proactive about suggesting next steps. Definitely do not hesitate to share your interest with the recruiter. Having said that, please do take the opportunity to review your notice period/contract and take that into account. All the best!

0

Any idea how to buy LVMH stocks in sinapore?
Where is LVMH stock listed? LVMH shares are listed on the Euronext Paris Eurolist. What are the Isin, Bloomberg, and Reuters codes of the LVMH share? Reuters code: LVMH.PA Bloomberg code: MC FP Isin code: FR0000121014 https://www.lvmh.com/investors/individual-shareholders/faq/ Find a broker which allows you trading access to the Paris stock exchange.

0

How To Pick The Right ETFs For Your Long Term Portfolio?

Growth ETFs or Index ETFs? When to buy ETFs? How many ETFs should I own? Still confused? Clear your doubts here! 👀👀👀

1765

8

6 more comments

Lin Yun Heng

Lin Yun Heng

3w ago

ARKK has the most diversification. And the most liquid of all the ARK ETFs so it will be the core. the rest would be based on how much conviction you have!

Jesslyn

3w ago

Ok thank u, will read up on the rest.
Post