Why Should You Invest In ICO? Yee Kok Siong Explains

ICOs are extremely hot among the crypto speculators. As of late, Hdac and Filecoin assembled exclusively amazing measures of $258 and $275 million. The accomplishment of an ICO is affected by numerous angles. Investors should remember following key components discussed below by Yee Kok Siong a forex investor:


1) Team Configuration

Discover everything about the team, particularly the progression team and the warning board. Look up each member of the team for significant experience. Google their names. Visit their LinkedIn profiles. See whether the team has any crypto experience and all the more imperatively in which tasks, or ICOs, they were included with and the effect they had.


2) Evaluate the phases of the project

Estimate the phase of the project. Does it just have a whitepaper? A beta variant? Is there a propelled item with constrained usefulness? Lean toward ventures which have “a few lines” of working code, be that as it may, numerous ICOs have demonstrated they can move toward becoming examples of overcoming adversity with no code composed.


3) Why do they need the token?

ICOs mean the formation of another devoted token for the project. A standout amongst the most critical inquiries each task needs to answer is what is the token for? An ICO can’t be an ICO without a committed token. A comparable request ought to be requested regarding the usage of the blockchain advancement behind the project.


4) Importance of Whitepaper

Most investors really don’t read the whitepaper thoroughly, despite the fact that it contains all the important data about the upcoming project and the ICO. The whitepaper is the silver platter for the potential investors. After reading it you will be able to answer any question regarding the project.


5) Make sure your investment is safe

ICOs will turn out to be increasing ‘standard’ as a technique for raising assets. There will be a lot of tasks to look over. Subsequently, it will turn out to be significantly harder to evaluate these projects.


It is vital to examine and read much information as could be expected and record all the vital angles, positive and negative, before settling on an investment choice.

Also read: What is The Future of Blockchain Development?


Multi-Cryptocurrency Payment Gateways Advantages Over Traditional Payment Gateways

Worldwide, merchants and online retailers are most satisfied using decentralized payment gateways. Of course, they have their valid reasons for getting happy, and Yee Kok Siong discussed them below:


  1. Traditional Payment gateways have a lot of rules and regulations. They are risky and global transactions are often restricted. With Multi-Cryptocurrency payment gateways you are allowed to make transactions from 500 different Alt-coins.
  2. Traditional payments are depended on various processes which need human interventions. As decentralized payments gateways are blockchain based, once the transactions are verified they cannot be altered even with any human intervention. Therefore the chance of any attack or alteration is impossible.
  3. The absence of any human intervention, any regulations make it faster and reduced mediators. Hence there are reduced charges and transactions can happen across borders without any hitch.
  4. The transactions can happen anywhere and anytime as they can be done through “Smart Contracts”. The traditional payments usually have bank charges, clearing houses cost, or transfer fees by third parties. Block-chain based technology of cryptocurrencies eliminates all such limitations and transactions happen with seconds once they are verified.
  5. There are various options available with decentralized payments like- Mobile Wallets, Web Wallets, and much more. One such option which is free, fast and with reduced costs is Peer-to-Peer payments. Also termed as P2P mass payments they are popularly used for small payments.


You may also transfer funds while chatting with the option of -“In-Chat payment”.

It is hence proved that Multi-Cryptocurrency payments gateways perform the functions of – Authorization, clearing, and settlement faster than any traditional payment platform. They are not only faster and accurate but are more powerful and robust.


These are they features which make cryptocurrencies more popular and all the reasons for the exponential rise in their prices. Today, financial experts, industry professionals, bankers and big corporate houses are seriously thinking of investing in cryptocurrencies as they find this as the next generation platinum.


Also read: Yee Kok Siong on Status of Cryptocurrencies Tomorrow!

Historical Currency Rates For Predicting Currency Trend

If you are planning a money transfer abroad or intend to open an account with a Forex dealer one of the first steps is to start learning how to read historical currency exchange charts. Countless websites offer free and paid Forex charts. Real time Forex Charts are intended for use by professionals while delayed quotes or yesterday’s central bank fixing are used for statistical purposes, which is fine for most applications.


When calculating the cost and the value of your money transfer you need just a basic chart representing the history of movement of the currency rates. In this case, you can utilize reputable websites to provide such information. These include business news agencies, major Forex dealers or some of the leading travel agencies. Yee Kok Siong advises you to consult your personal Forex broker and to ask for the information you need; in many cases, your broker will be able to provide you with additional info on various applicable fees and taxes.


A history chart represents the value of a currency against another one. First, you must select the currency pair you want to check. Be aware that the order of appearance of the currencies in the currency pair is important and will produce different results when inverted. At first glance, the EUR/GBP and the GBP/EUR are the same currency pair, but the EUR/GBP chart will deliver results on how much did 1 euro cost in Pounds Sterling while GBP/EUR returns the value of 1 Pound Sterling in equivalent euros.


An average user does not need specialized candlestick charts representing the bid-ask spread utilized by the Forex professionals, a basic line chart is more than enough. The line chart will provide you with information on currency rates during a specific period, say, a year. You can choose not only the overall period you want to observe but also the time intervals i.e. daily, weekly, monthly closing price. The daily interval is most appropriate for studying periods between several months and a year; you do not need a longer period than a year to prepare for your money transfer.


You also do not need special analytical tools, unless you plan to become a Forex professional like Yee Kok Siong. The chart will give you a general idea where your home currency is heading compared to another currency. Look at the high and lows to determine the momentum and direction of the trend. This will give you an indication of the approximate exchange rate to expect in the near future. There is no need to scrutinize the historical movement of the currency rates of interest to you. This is a sophisticated skill requiring years of professional development; just learn how to read the basic currency charts, which outline the major trends in the movement of a currency pair. Alternatively, a good currency specialist can give you all the information you need without the fuss.

Foreign Currency Transfers – Why Rates Matter?

It’s not uncommon for people living in one country to want to send money to those living in others. Whether there’s a need to help family back at home, give friends a financial boost or conduct business with interests overseas, merely writing a cheque and sending it off by mail may prove counterproductive given the time involved and the potential for exchange rates to change. That is one of the reasons why people turn to the best currency exchange Toronto providers to assist. Electronic money transfer options can result in saver transactions, faster receipt of the money and a higher rate of exchange.


Foreign currency exchange rates are an important consideration when making transfers to another country. Much like a forex trader hoping to get a strong return on investment from buying currency, those preparing for a simple cash transfer should consider the rates closely. Here’s why:


  • The potential for the money to go farther – If a person is sending high-value currency into an area where currency is lower valued makes the exchange when the disparity is high, the exchange rate may prove very beneficial for those on the receiving end, giving them more money in their accounts. To ensure the highest foreign currency exchange rates, Toronto residents will want to work with a reputable transfer service that guarantees the highest rates based on daily fluctuations.
  • The potential for better investment – If money is being sent into an area with a lower value currency for investment or business reasons, better exchange rates can help senders keep more money in their pockets while still enabling them to send the agreed upon amount.


A currency exchange provider can help clients send money anywhere in the world quickly, safely and at the best possible rates. When selecting foreign exchange services, you should seek out established, licensed firms that specialize in transfers between family, friends and others. These services tend to offer the highest possible rates while ensuring smooth transactions and a high level of customer service.


Working with the best currency exchange can help you make your money go farther. When it’s time to send money, exchange rates will matter and so will the quality of the service provider.


Also read: Advantages a Broker for The Currency Exchange

Exchange Rates Comparison is All About Money Honey

Yee Kok Siong is of the view that to get a proper understanding of exchange rates comparison, you need to take the services of a best currency dealer.


Choosing the best Currency Dealer


Choosing the best currency dealer is quite important when it comes to trading abroad. It is worthwhile pointing that High Street financial institutions do not specialize in exchange rates and therefore charges much bigger fees. And that is where you can get the best out of exchange rates through a currency dealer. The best currency exchange dealers are ones that provide you with a risk management service, fast money transfer, good customer service, extended trading hours and competitive exchange rates.


What Affects Exchange Rates?


Foreign exchange market is widely been regarded as one of the most volatile market of all the financial markets in the world. You need to be extra careful when involved with this market because if that is not the case, it can cost you plenty. You need to step out of the market at the right time. When the fluctuations are too strong and nobody is sure of what is happening, it is an ideal time to once again enter into the market.


The compare exchange rates are affected by the fiscal policy and political stability of the country. If the economy of the country is in ‘expand’ mode, there is a strong possibility that there is going to be jump in the currency value. Conversely, if the economy is not in good shape, currency value is going to decrease. Countries that have stable governments in place enjoy high currency value.


Knowledge Base


As exchange rate comparison is all about money, you need to have a good knowledge base. Make sure that you read the business page of newspaper on a regular basis. You can also check business websites where experts give their insight regarding the foreign currency exchange. With right kind of knowledge base, you will be able to make decision in a much better way. This can go a long way in ensuring that you get best possible exchange rates.

Also read: Yee Kok Siong Tips to Get The Best Foreign Exchange Rates

National Currency Exchange Rates Could Be The Best Forex Indicator

A nation’s currency rate rises and falls against other currencies from second to second in the Forex Markets. If the currency is in a fixed exchange rate system, it is referred to as devaluation and revaluation. As the terms imply, devaluation is a drop in the currency value and revaluation is a rise in the currency’s value. These fluctuations are officially sanctioned changes that are mandated by governments or central banks. In the global economy, though, more and more nations are moving away from a fixed exchange rate system in favor of a floating exchange rate system.


In a floating exchange rate system, the same rising and falling action takes place, but it’s referred to as depreciation and appreciation. Instead of the price action being governmentally controlled, it’s controlled by market forces. This is a more open and realistic exchange rate system and reflects the country’s actual market status.


Yee Kok Siong says regardless of whether a nation is using a fixed or floating exchange rate, Forex traders can use the exchange rate system as an indicator for which currencies will be on the rise and which ones will be declining. It means traders have to keep their fingers on the pulse of what’s happening internationally and ensure they are updated on the currency markets as well as the economic health of the countries whose currencies can be traded on their Forex platforms. Watching these trends can be highly profitable.


Currency devaluation or depreciation has an initial negative affect on a nation’s economy, because it often results in a decrease in imports due to the increased price of goods. Over time, the devalued currency leads to increased exports and a rise in the nation’s currency against other currencies. These rising and falling trends mean potential money in the bank for traders.


Forex traders can use this information to their advantage as they take a “sell” position on national currencies that are experiencing devaluation. When the nation regains its footing, traders can “buy” the currency again and profit from both moves in the market.


By using this fundamental analysis, traders can trade multiple currency pairs and potentially execute several successful trades at the same time. For example, if the US Dollar was depreciating, you could sell the USD/CAD, USD/JPY, and USD/CHF. At the same time, you could buy the EUR/USD, GBP/USD, and AUD/USD, profiting six times from a single piece of analysis. Potentially, you have six winning trades from one declining currency.


The opposite is also true. When the currency starts to appreciate, traders simply reverse their actions. They buy the USD/CAD, USD/JPY, and USD/CHF. And they sell the EUR/USD, GBP/USD, and AUD/USD.


Using this fundamental analysis golden nugget, you have the potential to make multiple successful trades simultaneously. Combined with other fundamental, sentimental and technical analysis, you could ride the Forex market trends all the way to the bank. Your return on investment (ROI) is squarely in your hands.


Also read: Effect of the Currency Exchange Rate in International Activity

Ways to Determine Forex Liquidity by Yee Kok Siong

On an average, around USD 1.3 trillion of foreign currency transactions are conducted each day. This is not an estimate, but confirmed figures researched by the Securities and Exchange Commission. A number of free resources are available, but the traders are still always in the quest of getting forex liquidity information on a daily basis. The reason is that for full-time as well as newbie investors, it helps in determining a number of things like where the action is, when to trade and which currency to trade in.


The biggest difference between stock exchange and the FOREX market is that the stock market has a centralized location, whereas the forex market is no centralized. It is basically a cluster of hundreds and thousands of banks, brokers and traders who are always busy in dealing with each other and tracking the tracking volume on an independent basis. This means that the forex traders as well as forex liquidity providers are limited to the volume data provided by the brokers to gauge daily liquidity. This also means that they have to rely upon the averages when it comes to telling about the most liquid currency and when.


The sequence goes like that when a new forex account is created; the account holder is provided a trading platform that helps him smoothen his trading related tasks. The good thing about most of these trading platforms is that they have an option called “Show Volume” on the chart. The volume bar on the bottom of the chart reflects few very important figures like how much money was traded during that particular time slot. However, the liquidity data is only of your broker and not of the entire foreign exchange market.


Apart from the trading platform, there are some forex liquidity providers, who for the sake of transparency offer level II trade screens. The main attribute of such screen is that it allows the investors to see the currency available at the current rates and also on the above and below levels. If there are symptoms of the availability of the hundreds and thousands of dollars for trading within the several pips of the current price, it would demonstrate the availability of ample liquidity. On the other hand, when a smaller amount like just a few thousand dollars is displayed, it means that the prices may be subject to larger swings as liquidity is really low. Again, the very important point to note in this context is that amount reflected is only the liquidity offered by your broker.


There are certain currencies that are always beneficial for the traders when they pair and trade in them. According to the Securities and Exchange Commission and Foreign Exchange Committee (FXC), more than 25% of the total foreign transaction occurs by pairing EUR, European EURO and USD, i.e. US dollar. With these two major currencies, the investors can be assured of the liquidity t any time and day of the week. There might be very exceptional fluctuations around the time of important scheduled news releases. This is because during these times, the forex liquidity providers withdraw liquidity from the market until the news is released and they have inspected its impact on the market. Other highly liquidity currency pairs include the USD/JPY, GBP/USD, AUD/USD and USD/CAD.


Also read: Merits of Forex Investment over other Forms of Investment by Yee Kok Siong