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

cryptocurrency symbols

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
a person using laptop while researching

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.

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7 Green Tips for Your Cleaning Routine

Amidst the pandemic that the whole world is facing, the need to keep one’s home clean has reached top priority, even for busy people. However, how can you keep your house squeaky clean while going green?

Cleaning your house, regardless of its size and type, is a never-ending process. But due to time and budget constraints, ensuring your place’s upkeep can be overwhelming. Fortunately, there are ways of doing cleaning responsibilities without denting your wallet. All the more, this article will present sustainable cleaning activities that will surely benefit you and the environment. 

Let us start!

Come Up With a Green Source

Did you know that most cleaning materials contain harmful chemicals that can affect you, your family, and the surroundings? Good thing, an increasing number of businesses have come up with several non-toxic variants of go-to cleaners. This somehow simplifies the shift from conventional to green products.

How to know if the cleaning supply is green? You can check if the label has EPA (Environmental Protection Agency) or Green Seal Stamp. Still, you should be wary if you see generic assertions like “environmentally friendly” or “eco-safe” because not all products having these labels are true to their claims.

To be sure, avoid cleaning products containing dangerous ingredients, such as phosphates, phthalates, chlorine, ammonia, glycol ethers, and ethanolamines.

Reduce

To donate or not to donate? Let’s face it, not all items we want to declutter have a resale value. This is why some turn to donate their items instead of directly selling them. However, you can try handing your items to a thrift store or even consignment stores if you have high-quality accessories or clothing to donate. Doing this allows you to remove unwanted objects and, at the same time, earn money.

Reuse

Most people know the 3 Rs of waste management –reduce, reuse, recycle. Yet, many of us go directly to the third R. So, before jumping ahead, let us consider the second R. 

Reusing means the repeated use of an item or finding a new purpose for that item without treatment. For example, your old drinking glasses in bulk hidden at the corner of your kitchen cabinet can be reused as office supply holders, succulent planters, flower vases, or catch-all bowls. Another, you can reuse your old makeup brushes for crafts, paintings, or dusting electronics with tiny parts.

What’s excellent about repurposing is that instead of tossing your old stuff into the trash, you can still salvage it and have a better use. 

Recycle

As you continue your cleaning routine, look around your home and office to see how you can set up things for easy recycling. For instance, is there a place in the bathroom or anywhere around the house where you can place recyclables, such as paper, paper rolls, and plastic containers and bottles? Putting a designated container for your recyclables is a reminder of your green cause. In addition, this will make you eager to recycle disposable things as much as possible.

Use Plants to Get Rid of Pests

Don’t you hate it when small animals and insects are pestering the peace of your home? Luckily, there is an alternative way of getting rid of pests apart from using harmful chemical sprays. A strategic placing of plants around the house can help you get rid of them. This is because just like us, there are scents insects and animals cannot stand.

As proof, you can install a few mint herb pots in places where you have a mice problem. This is because mice don’t like spearmint or peppermint. On the other hand, spiders don’t like citronella, so you can add a few drops of citronella oil to any essential oil burners and place them near where you have an issue.

Have a Minimalism Attitude

Moving forward, try to embrace the concept of minimalism. Buy only the things you need to prevent producing clutter. Why don’t you consider making a wish list? Like when you find something you want to buy on an impulse, simply add it to the list. Then, if some time passes, say about 30 days, and you still like it, allow yourself to purchase it.

Share the Good Practice

Last but the most important tip is to share your cleaning routine success with the people around you. The more people involved in sustainable cleaning, the better. Here are a few ideas to start:

  • Remember, sharing is caring, so get your family and friends involved. Also, you can swap reusable and recyclable resources with them.
  • You can start organizing stuff swaps in your neighborhood to help rehoming items that were decluttered.
  • Set up an annual sustainable spring cleaning challenge in your community.

Conclusion

While staying safe in the comfort of your home, you can learn how to deep clean your indoor space sustainably. Keep in mind that careful planning on the things you need to do and use when cleaning is crucial. This is to ensure that you do not harm your health or the environment in the process.

Did you find the tips helpful? Do you have others to add? Let us know! Leave a comment in the box below. We wish you a stroke of good luck in your sustainable cleaning endeavors!

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Healing Crystals & Where To Find Them In Singapore

Crystals are naturally occurring rock formations valued for its unique shape, luminosity, and texture. Ancient civilizations incorporated crystals into daily life by integrating them to rituals, medicines, and beauty products. For example, the Egyptians thought that rose quartz can be used to help the wearer look young.

As many social media accounts dedicated their feeds to the beauty of these crystals, the appeal of crystals has brought a sparkle to the collective eye of many people. Let us move on to healing crystals.

Crystal healing is an alternative medicine practice that uses semi-precious stones and crystals such as opal, quartz, amethyst, and agate. Apart from being used for Fung Shui, crystals are also used as accessories for meditation or mindful living. People who subscribe to its healing properties believe that each crystal has specific properties to enhance a particular chakra or characteristic.

You can purchase your next crystal at the following local stores.

Image credits: pixabay.com

#1: SG SECRET CRYSTALS

SG Secret Crystals is your one-stop shop for all your healing crystal needs. People who love to carry their stones daily may check out SG Secret Crystals’ varied selection of pocket-sized crystals. While you can go directly to its physical store, you can also view its online offerings to score the best prices.

Location: #04-27 The Adelphi 1 Coleman St, Singapore 179803

#2: QI NEW AGE HEALING

Ran by Lay Lee, Qi New Age Healing stores a wide stream of items that are dedicated to new age needs including crystal sets and jewelry. Whether you like your crystal to be raw or cut, you can purchase some here. Qi New Age Healing’s products are showcased online and its physical store at Kandahar Street. See for yourself!

Location: 42 Kandahar Street, Singapore 198896

#3: LOVE FOR CRYSTALS BY AUDREY’S WELLNESS

Your desired crystal is waiting for you at Love for Crystals. Feast your eyes with Love for Crystals’ raw, spheres, terminated, shaped, polished, and tumbled crystals. These products are procured from responsible global sources, ranging from Tucson to Brazil. You can order online or visit the showroom during selected days. Hurry as its 10% off – GSS promotion runs until July 31.

Location: 228A Upper Thomson Road, Singapore 574360

#4: ALOOFAFA

Palm stones, crystal towers and hearts can be seen at Aloofafa. This online crystal retailer can help you decorate your home. Weekly drops happen every Sunday at 2pm. Stay updated by following Aloofafa in Instagram.

Website: instagram.com/aloofafa

Image credits: unsplash.com

Sources: 1 & 2

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Essential Updates On The COVID-19 Safety Measures From July 12 To Present

[This article has been updated to adhere to the recent announcements given last July 16.]

More COVID-19 safety measures will be eased from July 12 onwards. Here are some of the highlights.

#1: GROUPS OF UP TO 5 PEOPLE CAN DINE-IN AT F&B ESTABLISHMENTS

The limit on groups allowed to dine-in at Food and Beverage (F&B) establishments was raised from 2 to 5. Up to five people can eat together as long as they are all fully vaccinated, equipped with negative Pre-Event Testing (PET) results, proven to recover from COVID-19 within 270 days, or qualify for the 5-person group eligibility rule. You must adhere to other safety measures such as social distancing and always wearing their masks (i.e., except when eating or drinking) too.

Dining-in remains as a higher-risk activity due to having many people unmasked in close proximity with one another. We must do our best to reduce the expulsion of droplets while at these establishments. Thus, entertainment at these places such as live singing and video screening will continue to be prohibited.

#2: WEDDING RECEPTIONS RESUME WITH NO MORE THAN 250 PEOPLE

The wedding receptions have resumed with no more than 250 people allowed with Pre-Event Testing. For wedding receptions with 50 people or less, PET will only be required for the wedding party. The wedding party usually includes the couple, their bridesmaids, and groomsmen.

As wedding reception remains as a higher-risk activity where guests tend to socialize over a long period of time, guests must adhere to all other safety measures to reduce the risk of transmission.

#3: FITNESS STUDIOS AND GYMS MAY CONDUCT INDOOR MASK-OFF EXERCISE ACTIVITIES

Fitness studios and gyms are allowed to conduct indoor mask-off exercise activities in groups of up to 5 people. However, indoor high-intensity mask-off activities will limit to groups of 2 from July 19.

Image Credits: unsplash.com

The cap on class size for both outdoor and indoor mask-on classes will be raised to 50 (i.e., including the instructor) or to the capacity limit of the venue, whichever is lower.

#4: SOCIAL GATHERINGS AT THE WORKPLACE CAN HAPPEN

Despite having work-from-home as a default arrangement, employers are allowed to have social gatherings in the workplace until July 18. Up to 5 people can gather for said gatherings.

Furthermore, employers must ensure that they implement flexible working hours and staggered start times.

#5: ANTIGEN RAPID SELF-TEST KITS TO BE SOLD AT SUPERMARKETS AND CONVENIENCE STORES

Antigen Rapid Test kits were made available at designated local pharmacies from June 16. Fortunately for us, these self-test kits will be available at supermarkets and convenience stores from July 16 onwards.

Customers may also purchase more than 10 kits per person. This will allow the members of the public to buy as many kits as they need.

#6: TRACETOGETHER, SAFEENTRY REQUIREMENTS WILL BE REINTRODUCED IN SUPERMARKETS FROM JULY 21

Ministry of Health stated that the high volume of patrons in supermarkets increases the risk of transmission. Thus, all supermarkets will enforce TraceTogether-only (TT) SafeEntry (SE) and deploy SafeEntry Gateways from July 21.

The reintroduction of this rule will facilitate more targeted contact tracing for people who visited indoor buildings at the same time as an infected person.

According to MOH: “We encourage all members of public to comply with the SE check-in requirements and to carry their TT Token or keep their TT App active to facilitate contact tracing and help protect themselves and their loved ones.”

Image Credits: unsplash.com

When at least half of the population has been vaccinated, differentiated measures for people vaccinated under the national vaccination program will be introduced. The nation is expected to reach this milestone by the end of July.

Sources: 1 & 2

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6 Telltale Signs That You Need To Walk Away From A Job Interview

With the status of today’s economy, you cannot be too picky. In your efforts to filter out your job applications, sometimes the position just does not feel right. It can be in your best interest to pass on a position if any of the following red flags are present.

#1: HIRING MANAGER IS NOT EXPECTING YOU

Have you ever walked into a room and felt like a complete nuisance? If the hiring manager makes you feel that they are not expecting you, you may proceed with caution. Observe the questions of the hiring manager and determine whether the person you prepared for has glanced at your profile. Working for someone who does not respect your time and presence is not ideal.

The hiring process is an expensive endeavor, so potential employers should not be frugal with their time. It is highly likely that they frequently make hiring mistakes if they are paying less attention to you and other candidates.

#2: HIRING MANAGER’S SCHEDULING IS MESSY

A candidate can expect a few hiccups in the interview scheduling process. After all, it is not easy to coordinate multiple people’s schedules. Moreover, bosses often get pulled out for last-minute meetings.

Scheduling becomes a concern if the hiring manager keeps rescheduling your online interview or in-person interview. These actions convey that he or she thinks you can adjust your schedule endlessly to accommodate to them.

#3: HIRING MANAGER USES INTIMIDATION TACTICS

Some companies use intimidation tactics during the interview. Whether the hostile behavior reflects how people treat each other in the company or is a way to test its candidates, companies want to observe how you will act under pressure. Intimidation can go as far as forcing you to accept the job offer upfront. That happened to a friend of mine.

Hiring managers that use this technique expect the candidates to calmly approach the situation. Candidates with other options will not tolerate it.

#4: HIRING MANAGER IS NOT AWARE OF YOUR RESPONSIBILITIES

No matter if you are applying to be an entry-level staff or the chief financial officer, the hiring manager should be able to explain the responsibilities of the role as well as how success will be measured. If he or she fails to do so, you will probably have a challenging time forging a clear path in the company.

You deserve to know what the job entails before you take it. If the answers of the hiring manager changes, it poses a concern.

#5: HIRING MANAGER DODGES QUESTIONS ABOUT GROWTH

Test how open the hiring manager is about growth potential and other matters. Everyone should have an opportunity to progress in the company’s ladder. If the hiring manager acts weird or gets annoyed when you ask about growth potential, you can expect that they have something to hide.

An interview is a preview of what your life could be like in a company. You can politely ask about the exciting and frustrating elements of the job to increase your awareness.

#6: HIRING MANAGERS ACT LIKE THEY ARE DOING YOU A FAVOR

Yes! Times are tough, but the hiring manager should not act like he is doing you a favor. Telling you that there are many people competing for the position and that you are lucky to have an interview is an intimidation tactic. Perhaps, this is embedded in the work culture. It is not ideal, especially if you end up dealing with it every day.

Image Credits: unsplash.com

Interviewer red flags are not difficult to spot if you know what to watch out for. Do not disregard these telltale signs during the job interview. Instead, turn your attention to finding employment or opportunity elsewhere.

Sources: 1 & 2

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