Cryptocurrency

The potential future of money?

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Cryptocurrency

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Junus Eu
Junus Eu,
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Top Contributor (May)

Level 8. Wizard
Answered 6d ago
As far as I know, no institutional affiliations.

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Ron Tan
Ron Tan,
Level 2. Rookie
Updated 3w ago
It is better if u bought and HODL. Understand what is the usage and important of Bitcoin. It is a peer to peer currency. Crypto could become a regular currency, perhaps in the future. So if you have some now, and hang on to them. You could be richer than those now, since u could transact much more easily than others.

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Many of them are making forays into blockchain. Blockchain and cryptocurrency are 2 different things. I also believe in the prospects of blockchain tech but not cryptocurrency.

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Hi! I think this article gives quite a few suggestions on what are the possible causes of the spike to the Crypto market. https://www.investing.com/analysis/is-bitcoin-finally-coming-back-200421065 TL;DR - Similar to your thoughts, the author also felt the trade war could have led to investors finding other asset classes to invest in. - Bulls and Bears At It Again, just a simple push and pull of prices - Whales Coming Out to Play? Given how Crypto market is largely dominated by a few controlling players, once these players make a move, they can really shake the entire crypto market

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Jonathan Chia Guangrong
Jonathan Chia Guangrong, Fund Manager at JCG Fund
Level 6. Master
Answered on 12 May 2019
No. Not really a good idea to hold BTC. Would rather you learn how to trade BTC like a commodity instead. Or subscribe to signals that allows you to do so. Know of a group that does so and they seem to be doing quite well

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Anu Singh
Anu Singh,
Level 1. Freshie
Answered on 12 Apr 2019
Of course, it is a yes. Investing in cryptocurrency can be tricky, meaning that the market is highly volatile and there can be a huge risk. On the other hand, it can prove to be very profitable also. Here I am mentioning some pros and cons of cryptocurrency: https://www.pcex.io/blog/is-crypto-a-good-investment/

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Zann Chua
Zann Chua,
Level 6. Master
Answered on 10 Apr 2019
Hello! Just like Sandra I think Binance is a good platform for Bitcoin transactions. This is mainly due to the low fees charged as well as the large variety of currencies available on the platform. ! Here is an overview of some of the platforms for cryptocurrency! Hope it helps you to make a better decision on which platform to use :)
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Yeo Enk Loui
Yeo Enk Loui,
Level 6. Master
Updated on 10 Apr 2019
Hey thank you for the question! There are two sides to this coin that we can look at: 1) Cryptocurrencies ae not a good hedge against inflation given its volatile nature, coupled with the fact that it is not backed by any central authority or regulations. As mentioned by Richard and Cherie, Bitcoin and other cryptocurrencies have experienced a bubble in the late 2017s, before crashing down to current levels (Note that its currently back on a resurgence again). I think this chart here clearly illustrates how volatile cryptocurrencies are: ! Notice the sporadic fluctuations of the daily returns of Bitcoin/USD and Litecoin/USD parings compared to that of the USD/EUR. I think this really speaks volumes about how unreliable cryptocurrencies as a store of value, given the speculation and volatility that comes with it. 2) On the flipside of the coin, crytocurrencies can be counterintuitive seen to be a good hedge against inflation, especially in extreme scenarios such as runaway inflation that is prevelant in countries such as Zimbawe and Venezuela For example, Venezeulan government issued the cryptocurrency called Petro in 2018. Its supposed to be backed by the country's rich oil and mineral reserves and is intended to supplement Venezuela's rapidly depreciating Bolivar due to inflation, as a means of circumventing US sanctions and accessing international financing. Here's a chart to see the extent of the depreciation of the Bolivar against the USD, to understand why cryptocurrencies were inroduced to replace the highly devalued currency as a result of hyperinflation. ! If you are interested to find out more about what assets are a good hedge against inflation, feel free to check this out: https://www.investopedia.com/articles/investing/081315/9-top-assets-protection-against-inflation.asp Hope this is helpful!
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Luke Ho
Luke Ho, Money Maverick at Money Maverick
Level 6. Master
Answered on 08 Apr 2019
By the time I've answered this question, it was killed off.

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You cannot directly short bitcoin but you can short bitcoin futures. Similar to forex and futures, you need a broker that carries the product. However, do note the liquidity is not very high and spreads are quite big. Margin required is also higher than forex currencies or index futures.
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