September, 2022 - Careyourpresent

Bear market but interesting Crypto updates!

Posted on September 9, 2022September 27, 2023 by careyourpresent

There are quite a few interesting updates on Crypto recently. Let me pick a few that caught my attention recently!

(1) LUNC – up 440% over the past 60 days. Crypto is very volatile and crazy indeed? Did you join the fun to huat or maybe just gloating at the sideline?

If you sort by marketcap, it is bigger than Near and FTX but slightly smaller than Atom. Crypto is really crazy isn’t it?

Image credit: CoinGecko

(2) BAB TOKEN

What is BAB Token? Binance is introducting its very own account-bound BAB Token. It is the first-ever soul-bound token on the BNB Smart Chain. BAB tokens are non-transferable tokens that work as identity credentials for Binance users who have completed KYC verification.

Introducing the #Binance Account Bound BAB Token, the first-ever Soulbound Token on @BNBCHAIN!

BAB tokens are non-transferable tokens that work as identity credentials for Binance users who have completed KYC verification.

Find out more ➡️ https://t.co/03TKuyXZBC pic.twitter.com/BKSWnM4jJL
— Binance (@binance) September 8, 2022

Features of the BAB Tokens:

Non-transferable: Users cannot transfer BAB tokens to other users.
Revocable: Users can revoke their BAB tokens.
Unique: One verified Binance user ID allows the user to mint one BAB token only on a certain chain.

Gas fee applies whilst minting BAB tokens, which will be deducted from the user’s Funding or Spot Wallet on Binance. The initial gas fee is fixed at 1 BUSD. Users may revoke their minted BAB tokens, after which there will be a 72-hour lock period. Users may mint new BAB tokens after the lock period

Remember that I have mentioned about Soul-Bound token in my previous post? Seems like the future is coming earlier!

Future of Cryptocurrency – SBT!

(3) Bank of Russia agrees to legalize crypto for cross-border payments

The Bank of Russia, the nation’s central bank, has acknowledged that cross-border payments made via cryptocurrency transfers are to be legalised. According to TASS, the Russian central bank has changed its mind about how to regulate cryptocurrency and is now working with the Russian Ministry of Finance to legitimise its use for international payments. Alexei Moiseev, Russia’s Deputy Finance Minister has stated that the Bank of Russia and the Finance Ministry anticipate legalising cross-border cryptocurrency payments soon. The need for local cryptocurrency services in Russia was emphasised by Moiseev, who pointed out that many Russians use international sites to create cryptocurrency wallets. (Source)

What does the above imply?

Another country realized the Cross-border transaction is crucial amidst the current chaotic geopolitical climate. Instead of the global SWIFT (which most Russian Banks are terminated from the network following the Russia’s invasion of Ukraine) Crypto is likely the solution for FAST transfer of money.

This truly reflect another a powerful important use case for digital cryptocurrencies and the future of Crypto!

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Careyourpresent : Book Review

Posted on September 8, 2022September 27, 2023 by careyourpresent

Recently I saw many people recommending this book. Hence I went to the NLB to borrow and read it. Do go read. It really open your mind.

Die with Zero by legendary energy trader, Bill Perkins, details a thought-provoking framework for maximizing net fulfillment, over net worth.

Die with Zero introduces the compelling principles he uses to think about personal finances, and more importantly, life.

Key takeaways from the book

Rule #1 — Maximize positive life experiences

Rule #2 — Start investing in experiences early

Rule #3 — Aim to die with ZERO

Rule #4 — Use all available tools to help you die with zero

Rule #5 — Give money to your children or to charity when it has the MOST impact

Rule #6 — Don’t live life on autopilot

Rule #7 — Think of your life as distinct seasons

Rule #8 — Know WHEN to stop growing your wealth

Rule #9 — Take your biggest risks when you have little to lose

Trust Bank referral and review (update to previous post)

Posted on September 5, 2022December 12, 2022 by careyourpresent

Thanks to everyone who have applied via my referral code earlier via my earlier post.

KNDBPEPT

Trust Bank referral and review – new digital bank

After further researching, talking to friends, reading forums, please take note of one key point.

Remember to apply for Credit Card first instead of saving account

I have also updated my previous post to include the steps to apply and highlight the above point!

Trust Bank referral and review – new digital bank

Posted on September 3, 2022December 27, 2022 by careyourpresent

I believe many people would have heard about this new digital bank since 1 Sep 2022. There are posters everywhere on MRT, information about the bank everywhere on social media. This is a good deal in my opinion hence I thought I should share it too.

https://www.trustbank.sg/

Long story short. You should sign up for both Credit or Debit Card + Bank account which you will get the following!

**Bank account Perks! Of course also up to 1.4% p.a. interest on the first S$50,000 with $75K SDIC Insurance.**

Freebies that you will get after sign up:

Free Signature Breakfast Set to be redeemed at Kopitiam (worth $3.10)

Free 1KG Superior Fragrant Rice (worth $3.55)

S$25 FairPrice E-Voucher on your first card spend (no min. amount required) -> one simple way is to buy those 0.01 voucher in your Shopee App!

Of course you will enjoy another free $10 referral if you sign up via my referral code

KNDBPEPT

By the way, the steps to apply are as below:

Step 1: Download the trust bank app here for android user.

Alternatively, you can scan the QR code.

Step 2: Key in the referral code first in the app (click “use referral code”, then apply credit card using myInfo (take few minutes to get approval). Remember to apply for Credit/Debit Card first with perpetual no annual fees (I saw some of the feedback in forums/from my friends sharing that if you apply saving account first, you be stuck at the saving account screen and can’t proceed further).

Step 3: After which, apply the saving account (few minutes too). You do not need to apply the saving account to get the freebies, but it is good to have since its free with no minimum balance.

Step 4: The final step is to spend 1 transaction using the debit or credit card to get the $25 freebie 🙂 For my case, I am using the card to buy $0.01 shopee voucher!

Step 5: Use your rewards and enjoy!

The end result 🙂 Free Money, Free account, why not?

You can click the link below for my other referral codes!

Referrals

Recent price trend of ETH vs BTC

Posted on September 2, 2022September 27, 2023 by careyourpresent

For those who are into Crypto, will likely notice the less co-relation between ETH and BTC recently. Let’s look at the price chart carefully.

Chart source: Tradingview YTD Chart

Chart source: Tradingview 6M Chart

Chart source: Tradingview 3M Chart

Chart source: Tradingview 5D Chart

Look at the charts (YTD, 6M, 3M, 1M, 5D) above carefully, what did you observe? Did you notice something very interesting?

Although BTC and ETH are both down YTD, but ETH rebound is getting stronger as compared to BTC?

Let’s put this into table format to see it better.

Did you notice the pattern above? Both ETH and BTH are down, but ETH are slowly going up more in percentage as compared to BTC? Why so bullish about ETH instead of BTC? There are few reason(s) which I can think of.

Reason 1: Usefulness

Both are coined as “Queen” and “King” of Cryptocurrency. Bitcoin is generally known as a store of value (like your physical gold, hence people tend to call it “Digital Gold“) vs Ethereum supports smart contracts, DeFi and secure financial cryptocurrency transactions etc. In term of “usefulness“, ETH definitely rank higher. Of course although BTC is “useless” except for “store of value“, people still buy it. But why? This is the same reason as why people buy the useless real physical gold for thousands of years. Is gold really useful? Can you eat the gold? (You may wish to read this post on why gold is useful.)

Let’s use the famous term “thought experiment” which our great scientists always use. Imagine, 5000 years ago, someone rich and powerful stumble into a piece of nice shiny marble instead of gold (yes the toy marble that we use today) and words spread/rich powerful people advertise, value it etc. As for gold, no rich and powerful people like it. What will happen if you fast forward to today? Toy marble become value whereas gold become not valuable at all. What am I trying to drive at?

Real digital gold is perceived store of value since thousand of years ago and is still valuable today. Bitcoin is also perceived store of value for the last decade. Will Bitcoin continue to be the perceived store of value hundred years down the road? Your guess is as good as mine.

I am personally more bullish in ETH than BTC for the longer term simply because ETH is more useful.

Reason 2: ETH Merge

What is ETH Merge? Basically the ETH Merge will complete Ethereum’s transition from Proof of Work to a Proof of Stake system. This is expected to occur on 19 September 2022. You can read more about this in ETH site itself. Basically this news cause people to be bullish about ETH

Image source: https://ethereum.org/en/upgrades/merge/

Reason 3: The most powerful and the most important reason

This is the most powerful and more important reason that cause ETH to pump.

This is the best reason which you can think of that result in the ETH pump.

Without this reason, ETH will not be so bullish and goes up more than BTC in %.

It’s the greatest reason of the century that cause ETH to be the most bullish in the short term.

Guess the reason?

Slowly slowly scroll down to find out…

Scrolling down….

Slowly slowly…

Be patience…

I will reveal the reason…

It’s coming soon…

I will let you know this most important reason of the century soon…

It’s coming…

Be patience…

Here you go 🙂

Haha, this reason was brought up in CT and many people have been talking about it 🙂

Bear is getting long and people need some fun in life isn’t it? Remember to Careyourpresent and be happy. Life is much more important than anything else. Do also read my Careyourpresent Series 🙂

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