How To Invest In Crypto For Beginners

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According to a recent crypto report, it was found that ⅓ of Singaporeans do not invest in cryptos. In this video, I’ll explain crypto investing to beginners, what’s crypto, is it risky, how to buy crypto, how many % of your portfolio should be in crypto, and where should you keep it.
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0:00 – Intro

1:16 – What is crypto
Crypto is a decentralized digital currency. Fiat currency like the SGD is issued by MAS, so it’s centralized. Some third world countries’ governments are printing so much money that the inflation rate is in double or triple digits. Because crypto is decentralized, it’s not controlled by any government. Other benefits include lower transfer fee, faster transfers, globally accepted, better privacy and prevents government seizure of assets.

4:08 – Concerns of investing in crypto
Some people feel that crypto is volatile. However, it was found that the volatility has been dropping over the years, as more and more people believe in crypto. Companies like Microstrategy, Tesla, Square hold Bitcoin in their balance sheet. El Salvador makes Bitcoin legal tender. And more and more people are holding onto Bitcoin instead of trading it.

The other concern is that crypto is risky. It doesn’t have intrinsic value or it could crash to $0. That’s only true for lousy cryptos. Crypto is like stocks, there are good ones and bad ones. Good crypto have much lower risk as they serve a purpose. Bitcoin was created to let people send money over the internet as well as store of value.

Bitcoin won’t be replaced easily because of network effect. It is widely accepted by everyone, and thus it won’t be easily replaced.

6:10 – Which crypto to start investing in
If you check Coinmarketcap, you will see that the top 3 cryptos are Bitcoin, Ethereum and Cardano. They have the highest market cap, and are currently more valuable compared to the rest. Each of them have their story and purpose.
https://coinmarketcap.com/

Bitcoin was created to let people send money over the internet as well as store of value. Ethereum was created to allow developers to build and publish programs and applications. While Cardano is a better version of Ethereum, in a way.

8:01 – How to invest in crypto
For beginners, you could start with binance sg. If you need access to more cryptos, you can use binance.com. The general recommendation is that you should own anywhere between 1-5% of cryptos in your portfolio.

9:23 – Where to keep your cryptos
After buying, you could keep it in high interest accounts like Hodlnaut or Binance Earn to earn interest on your cryptos. However the risk is that online platforms could get hacked, or the platforms could just shut down, and you will lose your cryptos.

If you are worried about that, you can keep your cryptos in a cold storage, like Ledger Nano S. That way, hackers won’t be able to steal your cryptos.

Some of the links and other products that appear on this video are from companies which Kelvin Learns Investing will earn an affiliate commission or referral bonus.

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