Crypto to start with "Cry"?
Having read what happened to investors of the Terra Luna coin, where investors lost quite a lot of money this month, some even their life savings, I wondered whether the high returns were worth it.
With crypto and Non-fungible Tokens (NFT) commanding very high prices, it is no surprise that retail investors want a piece of the action.
However, despite cryptocurrency being at the forefront of financial innovation, retail investors are being advised dabble in to crypto. This warning comes amidst the easing of measures in operating with crypto. Indeed, Singapore's approach is to allow the corporate players to iron out the uncertainty and manage the risk, especially in Blockchain and Digital assets.
My take is to be open to innovation but cautiously optimistic about how we deal with crypto. Losing money in a scam should never be part of the risk and one should always be cautious.
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