I am Peng, a Singaporean who is amused by the craze of cryptocurrency. A year ago, I was interested in blockchain technology and took up 2 courses from NTUC Learning Hub to learn about the technology (cos at that same time, the courses were heavily subsidised by government amidst the Covid-19 lockdown period). I remembered asking the trainer if I could make money in cryptocurrency, he gave quite a politically correct answer. He said, “The price would increase if people chase after it.”
A year have passed since I took the course, and the prices of Bitcoin and Ethereum have rose to very astronomical levels. I have some regret in not taking action one year ago.. Haha..
On 18 September 2021, I took a very very small position in Bitcoin and Ethereum via the Gemini platform, as Gemini sells only these 2 coins in Singapore Dollars. Day by day, I read a little bit on crypto here and there, watch youtube videos to understand more about the different and numerous use cases of the different coins.
So much about the hype, I guess I wanted to buy more coins which Gemini did not offer, and therefore signed up to different crypto exchanges over the past 2 weeks. In doing the administrative work of completing the sign-up forms and many verification processes, I realised that information that I obtained from different sources changed often, procedures written in recent months were refreshed with new information at the different exchanges, some of the changes has made the user experience smoother, while some has made it more difficult to get bigger sign-up benefits, lol! What a VUCA (volatile, uncertain, complex, and ambiguous)!
I decided that I would also set up a blog to document my crypto journey. Growing up in the 1980s, I started my stock investment journey when I entered the workforce, had my share of paying ‘school fees’ before learning from generous people like AK71’s asingaporeanstockinvestor’s blog, the Fifth Investor, Dr Wealth (formerly known as Big Fat Purse), Chua I-Min, Dr Tee’s seminars.. . I believe in dividend investing when I first started, but decided halfway that I would also find opportunities to trade small-cap stocks to boost my yearly returns, so that I can reach that level of ‘seed capital’ earlier and produce passive income .
This year, I am going into something new, and have an opportunity to blog about it. I hope to share about my mistakes and lessons learnt in my personal finance journey, and these would serve as reminders and reference notes of the decisions I made as time passes. Hopefully, 10 years later when I look back at this blog, it would be something fruitful and meaningful.
I hope to also share my blog with you, and would like this blog to constantly evolve as we learn, grow, and interact with one another.
12 October 2021