Month: April 2022

There are literally thousands of Cryptocurrencies in this world, more are being minted every single day, or even hours etc. One key question that came to all Cryto investors:

What common type of coins are there? Summarized overview as below:

BTC: King of Crypto. About 800B Market Cap as I wrote this.

ETH: Queen of alternate coins. About 400B Market Cap as I wrote this.

If we add both ETH and BTC, they almost made up half of the total Market CAP of the entire Crypto Market! That’s why they are called the King and Queen!

Stablecoins: are cryptocurrencies that attempt to peg their market value to some external reference. Two main types:

• pegged to a currency like the U.S. dollar. Example: USDC, USDT etc
• achieve their price stability via collateralization (backing) or through algorithmic mechanisms of buying and selling the reference asset or its derivatives. Example: UST, FRAX etc

GameFi: Play to earn coins where you get to earn some cryptocurrencies while playing the games! Usually there will be a native game token or NFT where you can purchase in order to play the game. When you level up, you can sell them to other players!

Metaverse: The metaverse is a digital reality that combines aspects of social media, online gaming, augmented reality (AR), virtual reality (VR), and cryptocurrencies to allow users to interact virtually. Augmented reality overlays visual elements, sound, and other sensory input onto real-world settings to enhance the user experience. (Definition given by https://www.investopedia.com/metaverse-definition-5206578). This is still a very new area, people are learning innovating, imagining on what the future Metaverse will be like. Maybe one day we can work virtually in Metaverse and don’t need to go physically to work!

Meme coins: coins created as part of a joke or a theme which is often not seen as a serious coin. Doge coin is one of the famous meme coin and make many people millionaires! Would you want to be next person?

There are other coins such as FaaS (farming as service) where the owner of the coin help you to do all the degen farmings, centralized exchange coins, node coins etc.

Step 1: Login to FTX -> Wallet -> Portfolio -> Balance -> Under USD, choose Deposit -> Deposit via Wire -> Enter the amount which you wish to transfer (e.g. $10 USD) -> click Submit (this amount should be same as step 5 below) -> Click See Instruction, a page will pop up to give you the receiving bank instructions for Step 2 to 4 below.

Step 2: Login to your DBS Internet banking -> Transfer -> More Transfer Service-> Scroll down under Overseas Transfer, Select DBS Remit and Overseas Transfer

Step 3: Click New Recipient -> Set the Recipients Details as below (After you add finish, you should see the FTX Digital Markets Ltd).

Step 4: To initiate the transfer -> Click “Transfer”

FTX only accepts USD, you have to use an account with a multicurrency feature such as DBS Multiplier account.

Step 5: Key in the amount which you want to send (need to be the same as step 1). Under the payment details in DBS, key in the account identifier which is found in FTX in step 1.

TADA! Wait for the money to be credited! Usually it is fast if you send during Weekday night (which is the morning of US bank). If you send during weekend, you may have to wait few days until weekday. Remember, always use small amount to test the transfer first.

Do you remember how creative and how imaginative you were when you were a child? As time passes by, most people lose their child’s mind. Through this NFT collection, you will relive your childhood.

This NFT collection features the marvelous mind of a child. These artworks showcase how the little mind think and grow as the child grow up.

Time flies very fast especially and most people missed their own childhood or their child growing up years. This is especially true for those who have no time due to busy at work or forgot about the more important aspect of life…

At a blink of an eye, you have finished school, start work, get married, have kids, aged, retired…suddenly you wondered if you can become young and relive your life again.

At a blink of an eye, your child was born, growing up from a cute adorable baby to a toddler in preschool, then suddenly become school going child, then graduate, get married… Your children are growing up fast. Before you know it, they will be leaving for college. Treasure and Careyourpresent or you will miss it.

CAREYOURPRESENT

Stablecoins definitely are the cornerstones of any Crypto investors.

These are coins where you can take profits and wait for chances. Where do you farm stablecoins?

I prefer to keep it simple and like to get the Stablecoins itself as rewards from the stablecoins that you have put in – meaning you put in stablecoin X and you will get X rather some some other reward coins of the protocol as the price may be very volatile. Even at high APR, you can also lose your precious capital.

With the point above, you can easily guess that it will be Anchor Protocol at 19.5% (currently the min rate is 15% after the recent new adjustment). Of course recently there are many questions on the reserve yields and the sustainability of the protocol. In my opinion after some calculations, around 6-8% should be sustainable (still higher than stock yields!).

For people who like you explore other options, you may wish to consider the followings:

• https://twitter.com/StargateFinance
• https://twitter.com/HundredFinance
• https://twitter.com/EdgeProtocol
• https://twitter.com/beefyfinance
• https://twitter.com/EdgeProtocol
• https://coindix.com/?kind=stable (you can use this site to see all the latest protocols and rates)

Of course you can also park in CEX (centralised exchange), Celsius, Blockfolio etc.

Did you realise that I put the twitter site instead of the link to the direct protocol? Do you know why? This is because investor should always read the protocol, twitter, telegram, discord, documentation etc before putting their hard earn money in it. Do your due dilligence!

Please also remember stablecoins are not totally risk free. Centralized stable coin like USDC / USDT are under the mercy of governments. These coins are backed by USD, hence can crash if USD crash.

Algorithmic stable coins like UST can de peg too if its underlying coin(s) crash.

This will be a very short post. There are people asking me what are the differences between Web 3.0 and 2.0.

Let me share a very simple definition of the difference between the both!

(1) Web 2.0 is the current version of the internet with which we are all familiar with, while Web 3.0 represents its next phase, which will be decentralized, open, and of greater utility – Crypto!

(2) Web 2.0 is controlled by your big companies such as Google whereas Web 3.0 is decentralized, built on the same concept of Blockchain technology, where the data is decentralized and runs on a token-based economy. This simply means, data is not controlled or saved in a central server but by various inter-connected servers unlike Web 2.0.

In short, decentralized, higher utility for all normal users would be the future – CRYPTO!