Celeste Elle, Author at MoneyDigest.sg

Seeing cryptocurrency as a get-rich-quick investment can be a massive mistake

The word “cryptocurrency” has been thrown around rather frequently these days. However, this precarious investment may not be for everyone.

In fact, please don’t take our word for it. The Monetary Authority of Singapore (MAS) has warned the public on its volatility, and that risky investment products are unsuitable for retail investors. To be honest, it’s not hard to understand why.

Do you know that between 2018 to 2020, there have been over 500 police reports of crypto-related cheating, fraud, or other crimes? Nearly 400 of them were made last year, and the news revealed that roughly S$29 million was the figure for investors’ losses.

Experts highlighted the main risks:

Falling for scams
Jumping into crypto projects that fail
Involving in bad investments of obscure coins

A closer look into the scam tactics

Choo Oi Yee, chief commercial officer for private capital platform ADDX, shared that scammers are tapping onto examples of people who have struck it rich in rousing the greed of investors.

Ms Choo added that there are two scams under the Ponzi scheme:

Money from new investors is used as returns for earlier investors.
Pump & dump: Scammers buy a coin to push its price up misleadingly and then dump it after others jump on the bandwagon.

Hong Qi Yu, the founder and chief executive of the digital trading platform Tokenize Xchange, also commented regarding this issue. He said that scammers might use third-party accounts to hide their mischief.

Common tactics include:

Hacking into accounts
Using undoubting individuals as money mules
Threatening vulnerable individuals to use their accounts

To counter the ever-evolving strategy of scammers, Mr Hong urged legitimate operators to enhance their surveillance of unusual activities. He also recommended “hot” and “cold” crypto wallets to reduce the risk of being hijacked.

Do your homework before cryptocurrency dealings

Image Credits: unsplash.com

With all that said, Ms Choo encourages potential cryptocurrency investors to do their homework. Crypto is complex, and a sound investment strategy involving investing in a range of assets is crucial.

Ms Goh (who declined to give her full name), who lost about S$30,000 to cryptocurrency trading platform Torque, prompted the public to learn about what they’re buying.

“Learn how to use the (crypto) exchange because different exchanges have different fees. You can save a lot on fees if you’re using the right exchange for the right coins.”

Another investor, Andy (not his real name), who lost about S$38,500 as a scam victim, asks investors to do their due diligence.

“The entire blockchain and cryptocurrency space (are) highly volatile. And the technology behind it is very difficult to understand, so unless you’re highly passionate about this whole landscape, don’t see it as a get-rich-quick scheme,” he noted.

When investment opportunities sound too good to be true, they probably are. Don’t let your hard-earned money go to waste via hasty investment decisions.

Possible reasons for tooth pain when biting or in contact

You’ve been waiting for the clock to strike 6pm, knock off, and enjoy your quality meat platter. But as the meat sizzles and you’re ready to sink your teeth into the tender and juicy piece, here comes the sharp pain.

If it’s happening too often, it could be a sign of something serious. Here are some possible reasons for tooth pain when biting or in contact.

#1: Cavity

Cavities are also commonly referred to as tooth decay. The small hole that forms in your tooth may not cause pain initially, but it will grow bigger if left untreated, leading to extreme pain and sensitivity.

#2: Sinus toothache

If you’re undergoing several teeth pain in the upper posterior teeth, it could be due to your sinuses. Since your upper teeth’s roots are positioned very close to your sinuses, infection, pressure, or congestion in the area could be the very reason behind your pain.

#3: Pulp necrosis

Healthline defines it as a condition where the pulps (tissues) inside your teeth die. You may find yourself extremely sensitive to hot and cold foods and drinks, and sweets in the initial stages. When in contact with the affected tooth, it can cause a tinge of pain.

#4: Malocclusion

Do you know what an occlusion is? According to Healthline, it is the way your teeth meet when your jaws come together.

Peeps who have misaligned teeth have experienced a misalignment of a standard occlusion. Thus, dental professionals refer to it as a malocclusion. Chewing may be severely affected by the condition, hence causing pain to both the jaw and teeth.

#5: Tooth injury

Image Credits: yourtimedentalurgentcare.com

Folks who don’t visit the dentist often may risk not knowing their oral health status.

The sharp pain you’re experiencing could be a result of a cracked tooth. While some people do not experience symptoms, others may go through intermittent pain. Another sensation is that of having something caught between your teeth.

#6: Periodontitis

Other than pain, do you suffer from these symptoms:

bad breath
a build-up of plaque
red, tender or bleeding gums

If you do, it could be a case of periodontitis. It usually starts with a type of inflammation call gingivitis and progresses to a serious infection of the gums called periodontitis. Those who are coping with arthritis may find the pain even more unbearable.

#7: Recessed gums or exposed root

Receding gums is essentially a process when gums start to pull back from your teeth.

When that happens, you will notice more exposed tooth surfaces. In acute situations, recessed gums may even leave part of the root exposed, making it very sensitive to touch. Usually, adults over 40 years old will experience such a circumstance.

Final thoughts

More often than not, we like to dismiss a minor tooth pain or discomfort as something insignificant that doesn’t require immediate attention.

But drag on for a little while more, and it may develop into something that requires a major dental operation. If you’ve been experiencing the symptoms mentioned above for some time now, we urge you to book an appointment with the dentist soon.

Benefits of using influencer marketing for your brand

Influencer marketing, when done right, can advance a company’s branding and lead them onto the road to success.

However, therein lies the question of the type of influencers out there to choose from. With more people joining the influencer network, here’s a good way to segregate them into categories:

Mega-influencers: More than 1 million followers
Macro-influencers: From 300,000 to 1 million followers
Micro-influencers: Between 10,000 and 100,000 followers
Nano-influencers: 100s to 10,000 followers

Keeping the overview in mind, we will focus on the benefits of using influencer marketing for your brand in this article.

#1: Track conversions instantly

If you’re in the business of app-making or selling e-commerce products, then engaging influencers to market your product can allow you to track conversions almost instantly.

In fact, fast-moving consumer goods like beverages or even affordably priced cosmetics stand a higher chance for quick sales revenue since the decision-making process for consumers is relatively short.

#2: Elevates brand awareness

For items or services that are harder to sell instantly, that’s okay. Your marketing dollar invested in engaging the right influencers will not be gone to waste just because there are no conversions.

When your influencers market your product via personal recommendations, their loyal followers get to see it. While they may not buy at once, there’s a high chance of them spreading the information to their friends and family members. This could elevate your brand awareness!

#3: Retain more sticky customers

Image Credits: retailcustomerexperience.com

Research has shown that customers generated via influencer marketing are likely to be more sticky than those attracted via other media sources.

But it’s also wise for the marketing team to plan out a long-term strategy to work with various influencers and keep the ones that help bring in sales or traffic. A one-time off partnership with an influencer may not generate much credibility, so plan for the long run and ensure your marketing budget is taken into account.

#4: Venture into new markets

With COVID-19 still raging strong after more than 1.5 years, businesses may be left in a lurch for their expansion plans.

This is where influencer marketing can help you venture into new markets because no one can speak a lingo better than the locals themselves. It will make perfect sense to engage local influencers if you plan to promote your products to a specific target audience. Try it, and you will see for yourself how effortless it is to reach global communities.

#5: A domino effect on other media spendings

As we come to a close, know that not all influencer marketing campaigns can bring in the revenue you desire (at least not immediately).

However, take heart in knowing that there is a domino effect on other media spendings. With elevated brand awareness, you will probably see more organic traffic to your website. This thus means that the cost of Google Ads may also decrease.

Final thoughts

We recommend that businesses allocate at least 10% of their marketing budget to influencer marketing.

You can choose to start small and experiment with small scale campaigns before you go big to finance your long-term influencer marketing plans. Sometimes, all it takes is a little trial and error before you get the hang of it.

Don’t miss out on the benefits of using influencer marketing for your brand!

Here are the answers to your FAQs on electric vehicles (EVs)

Apart from COVID-19 being a hot issue in Singapore and globally, electric vehicles (EVs) are also gaining much attention in 2021.

Earlier this year in February, Finance Minister Heng Swee Keat announced that there would be more incentives to encourage EVs’ early adoption in his Budget speech. If you’re a car owner or planning to become one, this topic should be on your radar.

Here are the answers to your FAQs on EVs answered by CNA Insider and the Electric Vehicle Association of Singapore’s vice-president, Paul Welsford.

#1: Is it true that EVs are more environmentally friendly?

If we’re talking about lower emissions over a lifetime, the answer is yes. Welsford added that EVs produce no roadside emissions and has less heat and sound, thus making them ideal for the environment.

#2: Can I save more money driving an EV?

You can save about 50% if you drive an EV compared to a petrol car.

To give you some numbers, the average monthly fuel costs of the Kona 1.6 Turbo, with a fuel efficiency of 100 km per 6.7 litres, is about S$250. Compared to Kona Electric, with 100 km per 15 kilowatt-hours efficiency, the cost amounts to only roughly S$120.

#3: What if my battery runs flat on the road?

Image Credits: Yahoo Finance

Then be sure not to let it run flat!

As with a fuel car, there will be an indication of your battery life so you can gauge your journeys better. But if you do ever run out of juice, you will need to engage services to provide you with a quick top-up via a mobile battery or have them tow your car to the nearest charging point.

#4: Can a single charge take me to Johor Bahru?

Yes! But even if you run out of power, be glad to know that there are fast chargers in Johor Bahru that can load you up with additional hundreds of kilometres in approximately half an hour.

More specifically for Hyundai’s Kona Electric long-range version, you can even drive to Kuala Lumpur in one go. However, it is advisable that you charge at intervals and take the opportunity to get some food and rest up.

#5: Is my safety more compromised if I get into a crash?

Your safety is compromised in a car crash, no matter whether you’re driving an EV or a conventional car.

But take heart in knowing that our sunny island is prepared to handle such fires. Also, EVs have advanced battery management systems to regulate power and temperatures. With every passing quarter, car-makers are working hard at making these systems even safer for you.

Need more deets? Watch the video below for a comprehensive comparison between an EV and a petrol car.

What you need to know about the stages of Parkinson’s disease

As our parents grow older by the year, there is a higher possibility of catching Parkinson’s disease. According to Mayo Clinic, Parkinson’s disease usually develops among old folks who are 60 or older.

We’re sure you have heard of the condition, but if you have not, it’s essentially a brain disorder that results in specific symptoms like:

Stiff limbs
Unmanageable tremors
Delayed movements (also known as bradykinesia)
Balancing difficulties thus leading to issues standing up

To identify the severity of the condition, doctors may use the Hoehn and Yahr rating scale to aid them in assessing. Here’s what you need to know about the five stages of Parkinson’s disease.

Stage 1

At the first stage, the symptoms may not be that obvious. Even if they present themselves, it’s not severe enough to impact daily activities and current lifestyles.

However, watch out for slight changes in an older person’s walk, posture, or facial expressions. There may also be mild tremors and movement restrictions on one side of the body. Should you notice such signs, bring your parents to the doctor so they can receive medications to minimise the possibility of it worsening.

Stage 2

As Parkinson’s disease progresses to the second stage, facial expression changes can appear more vividly. Your parents may also feedback that they are experiencing more trembling and stiffness.

Due to muscle contraction resulting in stiffness, an individual may take more time than usual to complete a simple routine. But at this stage, it should not impact their balance. Some may start to feel the symptoms on both sides of their body. Selected people can even find it tough to express their thoughts verbally.

Stage 3

Image Credits: todayonline.com

The third stage is the midpoint of Parkinson’s disease. At this phase, a person suffering from the condition will start experiencing loss of balance, decreased reflexes, and slower movements overall.

Stage 3 is important because the elderly person may be more prone to falls. While tasks are significantly affected at this juncture, individuals are still able to complete them. Do consider sending your loved one for occupational therapy as they continue to consume medication to reduce the symptoms.

Stage 4

As we approach the second last stage of Parkinson’s disease, know that stage 4 is a critical phase because individuals won’t be able to stand and complete daily tasks alone.

With significant drops in movement and reaction times, the senior person at this point will require either a walker, assistive device, or a physical person to assist them in their lifestyle. It’s not an exaggeration to say that leaving someone with Parkinson’s disease at stage 4 to handle their daily routine is dangerous.

Stage 5

This is the final stage of Parkinson’s disease, a phase where an individual will require 24-hour attention to prevent unnecessary falls due to heightened stiff legs.

Apart from physical challenges, older people at the last two stages of the condition are likely to experience confusion, delusions, and hallucinations. Dementia may also come into the picture, and medications taken previously will start to exhibit its side effects.

If you’re new to Parkinson’s disease and need more information, please head to parkinson.org.sg for support initiatives and reliable resources by the Parkinson Society Singapore.