6 myths about bitcoins busted

Posted by admin
on March 28, 2019

Although Bitcoin is legalized in Singapore, it is still a new type of currency. Since its introduction, Bitcoins have faced a lot of eyebrow raises and many even consider them not to be a fruitful investment. There have been several thoughts and myths around this cryptocurrency. In this article, we are going to bust some of the very common myths people have about Bitcoins so that you can invest in them without thinking twice.

Myth #1: Bitcoins are expensive

This is the biggest misconception people have about Bitcoins. Let us compare Bitcoins with gold. Just because you cannot afford a kilo of gold that will cost you S$56,090 doesn’t mean you won’t buy gold at all. You still buy smaller quantities of gold. The same logic applies to Bitcoins. Bitcoin is divisible, which means you can buy a lot of Bitcoin fractions with whatever money you have. If you are a seasoned investor, you may even be able to afford one or more Bitcoins.

Myth #2: You have to buy one Bitcoin

As discussed above, Bitcoins are divisible in smaller fractions. 1 Bitcoin can be broken down to 100 million Satoshi, which is a tiny fraction of a Bitcoin (0.0000000001 of a Bitcoin). You can buy many Satoshis for S$100-200 depending on market conditions. This clearly means that as an investor, you’re able to have maximum flexibility with how much you want to buy, hold, spend, send or sell.

Myth #3: Bitcoin is for criminals

We won’t say it’s completely untrue. Bitcoin may have been used for crime in the early days. The biggest example of the illicit activities carried out using Bitcoins is the Silk Road marketplace. Launched in February 2011, this website was the only known marketplace selling illegal items like drugs, weapons, and sex-related objects. Buyers and sellers conducted all transactions with bitcoins as they provided a certain degree of anonymity.

But that’s just no longer the case. The fact is that it is one of the most transparent currencies that ever existed. In fact, Bitcoins are so credible that the Singaporean government has even legalized it. Bitcoins are largely meant for law-abiding citizens who are in an economically or politically stable environment.

Myth #4: Blockchain = Bitcoin

Another major myth about Bitcoin is that people often associate it with blockchain. The fact here is that the blockchain is a technology that enables peer-to-peer transactions and records them on a distributed ledger. On the other hand, Bitcoin is a cryptocurrency that simply uses the blockchain technology for transactions.

Myth #5: Bitcoin is a scam

Most investors and people getting to know about Bitcoin now have the misconception that Bitcoin is a bubble that might burst anytime. They feel that Bitcoin developers are just collecting money and after they have collected enough the scheme will collapse. You must know that if the Singaporean government legalized the use of Bitcoins then it must be for a solid reason. Adding Bitcoin to a diversified portfolio has been proven to lower the risk profile of the entire portfolio because it is an uncorrelated asset. Also, there are many other cryptocurrencies which have come up as a result of Bitcoin. These are the biggest proofs that Bitcoin isn’t a bubble that will burst anytime soon. And even if it does, people can start mining on their PCs and bring Bitcoins into existence again.

Myth #6: Absolute Anonymity with Bitcoin users

We agree that there is some element of anonymity with Bitcoin users. But this isn’t entirely true. When users seek the services of Bitcoin exchange services, they have to share their personal details for record purposes. When Bitcoin users engage in a payment transaction, they leave behind a pattern in their blockchain. So Bitcoin users are not beyond regulation’s reach. Also, the use of an intricate blockchain system makes it almost impossible for any conman or crooked element to get access to your personal data. This means that there is absolutely no threat to personal information.

If you were planning on investing in Bitcoins but couldn’t take a step forward because of these myths, you can proceed now.  You can buy Bitcoins from different places in Singapore. Either buy them from Bitcoin ATMs or marketplaces like Coinbase, Gemini, CoinSwitch, Coinmama, and Binance. Once you have decided your way of buying Bitcoins, you can then select your wallet. Select from hardware wallets, desktop wallets, mobile wallets, paper wallets, etc.


Preferred legal money lender in Jurong

In any case, you need quick cash for unexpected expenses may seek help from Quick Credit licensed lender. Our loan officer will observe your overall situation after that, create the premium personal loan to fits you. All of our staff is full of money lending knowledge ready to give you the best advice. In addition, Quick Credit is a responsible moneylenders open on Sunday!

Interested to know more about a personal loan?  Drop us an email to enquiry@quickcredit.com.sg. Our officer will get back to you as soon as possible. Another way to contact us is just to drop us a message here our staff will get back to you asap.

You also can reach us at +65 6899 6188. Drop by our office at 2 Jurong East Street 21 #04-01A/B IMM Building Singapore 609601 get money today.

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Planning a Kid? Plan for These Costs

Posted by admin
on March 22, 2019

Parenthood is one of the most fulfilling milestones one must experience in life and also the one that encompasses a significant transformation for the parents. Planning financially helps you address the needs and challenges that go along with the patter of little feet right through to their financial independence.

 

If you are thinking of starting a family, you will want to think hard about the financial commitments involved. It is found that to raise just one child from birth till age 21, accrues an expenditure of $340,000. This number was calculated in 2012. Today, it is estimated that raising a child could cost anywhere from the low end of $200,000 to the average $360,000 and the last $1M.

Today, your finances are one of the basic things to consider when planning for a baby. One has to admit that raising a child in Singapore costs much more than it used to a few decades ago; especially with the amount of money incurred into the child’s education once they start schooling. Understanding the costs needed to raise a child helps you plan better and manage your finances while meeting the needs of your child simultaneously.

Before Baby’s Arrival

Having a baby in Singapore costs a hefty sum depending on the choices you make. Firstly, there is the cost of prenatal checkups. Mother and baby are monitored closely throughout the pregnancy, especially during the first trimester where a chance of miscarriage is high. Prenatal checkups thus ensure any problems that might be detected and can be resolved early. These checkups are incredibly exciting and heart-warming as you get to chart the growth of your little one while seeing him/her with your own eyes.

Most people generally proceed for their first check-up after eight weeks. Gynecologists charge between $150 – $250 per visit at this point. You also need to factor in the cost of supplements. This could bring the total expenditure of your initial two visits to between $500 and $700. If you are a Singapore citizen, opt for a public hospital to save money. The cost of prenatal check-ups is subsidized at these institutions.

Consultancy fees for subsequent visits are eliminated. You pay a lump sum which covers all costs including visits. The average package ranges between $1,500 and $2,000.

However, if you are still unsure about changing your gynecologist in the future, you can continue paying per visit. This would cost a total of about $2,000 to $2,500 for prenatal checkups at a private clinic, and about $500 total for a public clinic.

Cost of Baby Through the Initial Years

You will probably have started planning for your baby’s arrival several months before she or she arrives. This is a wise idea since baby supplies do not come cheap. The good news is that these costs reduce as the baby grows.

Here are the various expenses you should keep in mind for your child’s first year of life:

  • Feeding–Breastfeeding your baby not only is recommended for nutrients to build up their immunity but also to save you from the heavy cost of formula milk. It is recommended that babies be breastfed for the first six months. However, if not possible, you can supplement with formula milk.

 The average baby consumes 1kg of formula a week. The median cost of formula per kg is $45. If you start to dissuade your baby at six months, they will consume an average of $60 worth of food per month. Therefore, you spend an estimated $1,800 on feeding your baby in the first year.

  • Clothes and Diapers – With a variety of outfits to choose from, it can be tough to resist picking out new baby outfits when you are out and about. Most parents spend an average of $200 for newborn outfits. Then they pay a little further $100 as the baby grows.

 Most parents opt for disposable diapers which cost $0.25 per piece. Along with diaper cream and baby wet wipes, your total cost of diapering in the first year reaches up to $850.

  • Medical bills – If you are a working parent, you should consider the cost of care. Programs such as PCF and My First Skool charge $700, while private infant care providers charge a fee of $1,300 per month for full-day infant care. If you opt for a nanny, be ready to part with between $500 and $700 per month.

Cost Through the Later Years

The cost of raising a child changes as the child develops. The following is a breakdown of these costs at different stages of your kid’s life.

Baby to Preschool(1-3 Years)

This can be a frustrating stage for parents as a large portion of the income goes in purchasing consumables such as diapers, milk powder, and clothes. You find yourself buying items such as toys, a stroller, a baby cot, or a toddler bed. By this time, the baby starts having solid food. If your baby is a fussy eater or has special dietary requirements, your costs for food could shoot up.

Additionally, you need to factor in costs for childcare and healthcare. Parents spend an average of between $20,000 and $50,000 during this stage.

Pre-schooling Years (4-6 Years)

Your costs at this stage fluctuate depending on how much you choose to invest in your child. Many parents are willing to spend a premium amount to give their child a good start. They shell out large sums of money to send their children to institutions with better amenities, tailored programs, and better teacher-to-student ratios.

It is likely for parents to spend between $15,000 to $80,000 at this stage.

School Going Years (6-18 Years)

This includes the years when your child attends school for primary and tertiary education. You can save a lot of money by enrolling your child in a public school. The government heavily subsidizes fees in public schools. Many parents invest in tuition and development programs to progress their child’s chances at a prosperous future. Some parents also carry out expenses on extracurricular programs such as overseas trips for their child.

Parents spend an average of $25,000 to $80,000 at this stage.

University to Working Adult (18-23 Years)

This stage could be a sign of relief as you are almost done. However, this could be one of the costliest stages depending on the choices that your child makes. If your child chooses to go to university, you could shell out more than $50,000 depending on the university and length of the program. If your child decides to study abroad, you should be ready to spend more.

Start preparing for your child’s future to safeguard that they do not miss out on any opportunities due to financial limitations. This allows you to beat inflation and keep aside a considerate amount for your child’s future. To begin saving for your child’s better tomorrow, consider using a savings plan, investments, or children/educationally oriented endowments.

 


Most welcome legal money lender in Jurong– Quick Credit Pte Ltd

In case, you need instant cash for unexpected expenses may seek help from Quick Credit licensed lender. Our loan officer will observe your overall situation after that, create the premium personal loan to fits you. All of our staff is full of money lending knowledge ready to give you the best advice. In addition, Quick Credit is a responsible moneylenders open on Sunday!

Interested to know more about personal loan?  Drop us an email to enquiry@quickcredit.com.sg. Our officer will get back to you as soon as possible. Another way to contact us is just to drop us a message here our staff will get back to you asap.

You also can reach us at +65 6899 6188. Drop by our office at 2 Jurong East Street 21 #04-01A IMM Building Singapore 609601 get money today.

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I have S$10,000. Where do I Invest?

Posted by admin
on March 13, 2019

Wealth is something that slips out of our hands like sand, only the grains are bigger and take more time to slip through. It is something that keeps decreasing with time and according to situations. Some months you save almost half of your salary and sometimes it’s hard to push through the end of the month. Yet people try and save some amount from their overall salary, although they get an unsatisfactory salary. But a true professional is one who knows that money begets money. Saving money is never enough in this decade. One needs to look for different money mechanisms in order to multiply their money. The money you save in that piggy bank of yours will run out someday when you smash the piggy on the wall in desperation.

Allocating a significant part of your savings for investment is always a good plan if you want a better lifestyle or want to create wealth for your future. The investment will always help you create more wealth from the money you already have in your bank account. If you are interested in the market and investment in funds you first need to allocate funds for the job.

Where should I Invest?

You have worked for a few years now and have counted on options for investment of the savings balance you’ve made through those years. You made some side cash so that the savings don’t get exploited during emergencies. Suppose you’ve tried to make a saving of S$500 every month for the last 2 years and now you have accumulated somewhere around S$10000 in your investment fund. Now it’s time to put that money into the market cycle so that all your savings payback.

Keep Your Investments Diverse

Keeping your investments diverse increases the chances of good returns and decreases the risk factor. If you invest all your money in the same fund or stocks, any risk that becomes a reality will make you lose all your money. This will push you back 3 years, as accumulating that money again will be a tough job this time because of economic changes that occur every year. So always invest parts of your money into different sectors. Try to put a larger cut into something that provides heavy returns and has low-risk factors.

Investing in US Equities

If you have a good appetite for risk and need a place you can gain good returns over time, you can go ahead and invest in forex investment schemes. Most of the big players in the game had started by putting in their first few investment funds in US stock exchange. The indexed equity funds that list the top companies of US is a good area for putting in the capital. In the heat of economic upsurge, it could be a fat cow ready for milking. The S&P 500 and the NYSE (New York Stock Exchange) index some of the top public companies that provide great liquidity of assets and controlled volatility, thus reducing the risk of security. So, out of your S$10000 investment fund, you can invest about S$3000-S$4000 depending on the risk you’re ready to take. US equities are a big market and require much larger investment amounts for bigger returns, but for your first investment fund, you can get some returns which you can reinvest in order to increase your wealth.

Investing in Local Bank Holdings

Banks can also be a good investment field. The banking sector is always in sync with local and foreign markets. The Singapore Exchange (SGX) is one such market. Investment in foreign exchange funds can get your returns, but investing in the market of the country you live in can get you more chances of gaining interests and returns on your investment. Shares of the Singapore banking sector have a high yield and the risk factors are low when you invest through banks.

The DBS Group Holdings bank is the largest of the three big banks in Singapore. It is the largest listed company in the Southeast Asian indexes. It has a market value of about $69 billion on its outstanding shares. The company has had a record profit of S$2.89 billion in the year 2018, and it is 23% higher than last year’s 7% profit. So investing in a progressive bank holding can get you good returns on your investment. Now that you have S$6000 left in hand as investment fund you can buy 1 lot of shares. The recent cost per share is about S$23.40 which will amount to about S$2340 for 1 lot.

Investing in Real Estate

Real estate is the no. 1 choice of orthodox Singaporean families for investment. The real estate industry in Singapore is being recreated again to keep it up with technology-driven society. The government is now encouraging public firms to adopt new technologies and fuse them with the real estate industry. So it is a relief for the people who would like to invest in real estate. Recent growths of the Singapore real estate investment trusts points towards a good returning revenue for investors.

The best way of investing in real estate would be REITs (Real Estate Investment Trusts). REITs are investment trusts that allow investors to buy shares in the real estate market portfolios which get their incomes and returns from a number of property holdings. These properties can range from rental residential properties to hotels and even warehouses. A REIT company leases all the holdings under itself and distributes the parts of income and profits to shareholders as dividends. Before you invest in a REIT consider the following points:

  • The REIT firm should have a really strong sponsor which will increase the chances of your investments going into better holdings.
  • It must have an equitable P/B ratio.
  • Sectors and geographical allocation of the assets of the firm (important because the location of a property contemplates its value)
  • Quality of the assets the firm is investing in
  • Research for the firms that have a better dividend yield

Maple Tree

One of the popular REIT firm, that provides a good yield per distributed dividend and also has lower risk factors, is the Maple Tree Commercial Trust. It has two of the most earning commercial properties in Singapore- Maple Tree Business City and Vivocity. Maple Tree, being a popular and strong sponsor can get you about a 5.5% dividend yield.

Investment is something which needs instinct as well as proper knowledge of the steps you’re about to take. The risk appetite of a person while investing should be in constant balance with the knowledge he or she has of the market. Always keep tabs on the market indexes that raises your interests. Prior performances and failures will give you a better idea of how well the stocks, bonds or funds are going to perform in the coming days. When you feel the rod is red, strike it with the hammer.


Most welcome legal money lender in Jurong– Quick Credit Pte Ltd

If you need additional cash to invest, may seek help from Quick Credit licensed lender. Our loan officer will comprehend your overall condition then create the best loan package that fits you. All of our staff furnish of knowledge ready to give you the best comment. In addition, Quick Credit licensed moneylender is one of the reliable moneylenders open on Sunday!

Doubt about loan information? Drop us an email to enquiry@quickcredit.com.sg. Our officer will get back to you as soon as possible. Another way to contact us is just to drop us a message here our staff will get back to you asap.

You also can reach us at +65 6899 6188. Drop by our office at 2 Jurong East Street 21 #04-01A IMM Building Singapore 609601 get money today.

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