Question 2: What do people always get wrong about crypto when they first begin?

Answer: Answer: That crypto is all just in the clouds and that there is no monetary value held in it. Genuine and acknowledged cryptocurrency has value. But unrecognised and unaccounted cryptos do not. So it again falls back to more research and understanding. 

Always remember, fundamentals such as business model and utility will always be a better keypoint than just a good gimmick or a candy in the clouds.

An example would be a project that has 100 billion tokens. The project claims that each token is valued at $1. This would put this company's value at $100 Billion. If you know Robert Kuok, his total net worth is valued at 12.2 Billion. Does it make sense for an anonymous company that has just been around for 2 to 3 years to be worth 5x more than Robert Kuok’s business empire that has been running for more than 50 years?

Question 4: What kind of mindset should students be prepared with when dealing with cryptocurrency?

Answer: Like any form of investment there are risks, and to minimise or mitigate that risk, it’s the same as any other aspect in life — researching and understanding more by learning. Learning isn’t a means to an end but a never-ending process of empowerment of not only your knowledge but also preparedness. Because luck is when preparation meets opportunity.

And in cryptocurrency, it’s an exciting never-ending journey of discovering new utilities and usages of cryptocurrency and blockchain that would translate as a cryptocurrency with potential opportunity to grow. 

So, I’d strongly recommend that even if your intention is just a form of interest in investing, do your due diligence even if you’re merely interested to invest. Money is very difficult to earn, and twice as easy to lose. In cryptocurrency, it’s even more so.

Question 6: What’s your advice to those interested in investing in cryptocurrency?

Answer: Investing in cryptocurrency is easy! Anyone can do it. But, again, make sure you have a realistic expectation. 

I personally feel that having a 30% return on investment (ROI) per year is fantastic — anything beyond is a blessing. In many cases, you’ll see those online who invest $100 and expect to get a return of $1 Million in a week or a month. It’s as possible as winning the lottery (read as: super slim chance). 

Set the right expectations and have a game plan for your investment. If you had saved 5% of your earnings since the age of 21, you’d end up being a multimillionaire sooner or later. Now, you’re given a great opportunity in this age to have a place to put your earnings which can yield higher earnings than just putting it in a fixed deposit. So, like all things, do your own research, learn, and understand.

A friend I know took 2 years to grow $1000 to $40000 and sadly lost it in a matter of months.  Why? She didn’t take time to understand what she was investing in and ended up investing in short-term hyped-up projects that went bust. The moral is to never dive headfirst into something you don’t know.