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"bitcoin"

FAQ: How to Invest in Cryptocurrencies in Malaysia (Aside from Bitcoin)

invest cryptocurrency malaysia

This is a follow-up to my Bitcoin FAQ articleYou need to understand bitcoin first before diving into other types of cryptocurrencies. If you have not read that, you might find this confusing, so read that first. 

This article looks at cryptocurrency and altcoins from a more ‘investor’, rather than ‘tech’ point of view. If any info here is wrong or outdated, please let me know by commenting.

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FAQ: Everything You Should Know about Bitcoin in Malaysia, as a Newbie

bitcoin malaysia

Looking for information about bitcoin in Malaysia? I’m glad people are showing more interest in this, but it’s risky to dive in without sufficient information. From my experience admin-ing one of the Bitcoin Malaysia FB pages (here; join for latest news and updates), seems like many people like to promote unsafe bitcoin investment opportunities.

So here’s a FAQ about everything you should know about Bitcoin in Malaysia, as a newbie. This is kept fairly jargon free.

Versi Malay yang ditulis oleh SenangBit

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RM10,000 in: 6 reasons why I invest in Bitcoins

Today, I reached a milestone! RM10,000 in Bitcoins. This is the second investment I made after ASB (aka genetic lottery due to being technically Malay) that I hold more than RM10k in one investment vehicle.

Update March 2016: I’m now RM15k in.

In a previous post, I wrote about the 4 things I learned about buying Bitcoins in Malaysia.

Related: Bitcoin guide for Malaysians

 

Today I’m going to talk about why I personally invest in it.

bitcoin-910307_1280

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Link Roundup #60: 10 Things to Know This Week

Accelerate your personal finance knowledge with this regular feature on Ringgit Oh Ringgit – the Link Roundup! I promise you’ll find these 10 links informational 🙂

1. 10 Risky Investments to Avoid… Unless You Can Afford to Lose Everything The Penny Hoarder

This is a great list of risky investments. Part of the investing process is not just learning what to do, but also what not to do before you have enough knowledge and financial safety net.

Initially I didn’t agree with Gold/Silver (no #9), although yes they do have a point. Keeping them as coin collection or jewellery CAN be dangerous – you’re one robbery away from losing it all.

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[SPONSORED] Your Money Protected or Not? A Quiz

If you’re like me, you probably have your money all over the place:

  • In bank accounts (plural, because I have a few accounts with a few banks)
  • In various e-wallets and prepaid cards,
  • ‘Borrowed’ from legal entities (ie credit cards and loans) or illegal entities (ah long money lenders),
  • In ‘future money’ like insurance/takaful payouts,
  • In various investment accounts,
  • In physical forms like gold or property or high-value collectables,
  • With your friend who promised to pay you back soon,
  • In actual wallets (almost forgot about this one. Cashless trend is still going strong)
  • And more.

So my question to you today is… do you know what kind of protection is available for each of those listed? How sure are you that you get to access your money when you need to use it?

Wait huh, you might think, of course your money should be accessible, the financial ecosystem in Malaysia is good, right? (it is), I don’t need to worry, right? (mostly you don’t… but you should still know because this concerns YOUR money).

Take this quiz to test your understanding of your money’s protection – which is protected by PIDM and which isn’t. Have a look at the three scenarios, including one of Future You (surprise! You’ve reached financial freedom and are a multi-millionaire!)

Quiz #1 – How Protected is Kay’s Money?

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How to Buy Cryptocurrencies in Malaysia [2020 Guide]

GO BACK if you (1) don’t have at least 3 6 12 months’ worth of expenses in savings (where to save money), and (2) not good and not willing to learn about digital security. I’m dead serious, GO BACK. Cryptocurrencies as an investment is NOT suitable for you right now. You’re entering the high risk, high rewards zone.

Alright, full disclosure time – I am a crypto investor, since end of 2015. Why? Sure, there are people who buy cryptocurrencies for their utility, but let’s face it, most people get into it for the profit potential, including myself. The value is driven by supply and demand and purely speculative in nature.

In case that isn’t clear, I’ll repeat: (1) I’m biased because I’m a crypto investor, and (2) cryptocurrencies is a speculative investment.

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Ranked: Lowest to Highest Return on Investment

The classic investment advice says slow and steady wins the race, but all of us are hares. Whether you like it or not, we are attracted to BIG, FAST results. Despite knowing better, words like ‘highest return on investment’ and ‘highest growth investment’ *will* capture your attention.

Admit it. Even though we know that we should think long-term, all of us try to chase that sweet, fast high. And I think it’s okay to acknowledge that, because denial won’t do any of us good.

On an individual level, yes we’re greedy and impatient. But also on a societal level, we’ve also been conditioned to think that fast growth=better. You can see this mentality all over:

  • Bursa Malaysia ranks stocks by ‘top gainers’ and ‘top losers’.
  • The default search for unit trusts is by in FundSupermart (now FSMOne) is by ‘Best Performing Funds’ based on 1-month(!!) period.
  • Property investors are advised to factor in property rental rate growth, the higher the better.
  • When gold prices soared, *more* people bought more of it, causing a self-fulfilling prophecy.
  • And more
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Budget Update: July 2020

Budget Update: July 2020

Being an adult is accepting, and preparing for at least one major expense per month.

You can’t escape it. If it’s not paying taxes (my biggest expense in July 2020), it’ll be something else – home maintenance, car repair, replacing broken appliances, buying ‘smart’ upgrades (like a nice mattress so you’ll get a good night sleep, or noise-cancelling headphones to work better), medical treatment, whatever.

Once in a blue moon, you’ll get through a month without incurring a major expense, but later you’ll find that some months will incur multiple major expenses, so it averages out.

I’ve read somewhere that the only way to break this cycle is when:

  • you’ve successfully upgraded all your essentials to high-quality versions, so they break less and therefore need replacing less often
  • you put the payment on an instalment plan. You’re still paying, just not in one BIG chunk. Obviously this is cheating because you still end up paying the same amount
  • you can afford to pay for longer terms instead of shorter (ie paying for 5 years of driving licence instead of renewing annually). But yeah this is still delaying, not eliminating

I wonder if there are other ways to stop the major ‘Misc Needs’ or ’emergency’ expenses. How can one even FI/RE if we have to deal with this wildcard, forever? If ‘just budget it in’ the best answer?

Thoughts on this topic?

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Breakdown of My (SUPER HIGH RISK) Investment Portfolio

Obligatory disclaimer: This article is for SHARING purposes only! NOTHING in here is a recommendation, so don’t say ‘Oh Suraya say must do like that’ HELLO I NEVER SAY THAT, LATER I BABAB ONLY YOU KNOW

When Mr Stingy posted his How I Invest My Own Money article, where he gave the complete breakdown of his investment portfolio, I knew I wanted to write out my own version as well.

Investment portfolios are like a reflection of our personalities. It exposes our risk appetite and maybe some traits as well (see: (Stereo)types of Malaysian Investors: Who You Are Based on What You Invest In).

In this case, I realised that while some of our investments do overlap with each other, the percentage breakdown is completely different.

So, I’ll be sharing the breakdown of my investment portfolio. Like Aaron, I also don’t feel like disclosing the total amount, just the percentage of each investment type.

Everything is accurate as of time of writing (July 2020). Let’s hope that the eventual market downturn will be kind to us *laughs nervously*.

Breakdown of My Investment Portfolio, %, & Risk Level

Here are all my investments, sorted by highest to lowest, as calculated and screenshot-ed from Excel sheet:

investment portfolio

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