[Post 123]Can You Really Make Money With Play To Earn NFT Games?

Simply put, no. Evidence from the video suggests that such virtual Blockchain-based games should be avoided. The video also mentions that in order to play such games, players must first come up with the money. Furthermore, CNA suggests that it might be a Ponzi scam or pyramid scheme in which money from new players is used to pay out money to existing players. In summary, avoid such games if you have to come up with the cash in the first place. You are definitely better off selling NFT, but it is crucial to note that "minting" or generating an NFT still requires crypto, as seen in the video below, which provides a local Singaporean artist's view on the process of how to create ,buy and sell nft.

[Post 111] Learning investing/trading together part 24:How to purchase stock through SAXO

In this learning investing/trading post, I am going to show how to purchase stock through SAXO

Surprisingly, the signup process for SAXO was easy as it uses Singpass information(for Singaporean resident only) for signing up despite it being a Denmark bank and in about one day, I open a brokerage account with SAXO(Remember to set your account as USD  denominated!).

So, why choose SAXO as a brokerage?

Pros

• Good customer service, asked some queries on the account fee using the chat interface and was answer promptly
• Fees of $0.01 per share or min $4.00 USD 
• Able to sign up using SINGPASS
• There is a Singapore office
• Paynow transfer is near instant

Cons

• No physical bank(Well,at least not in Singapore)
• When (FAST)bank transfering money to your custodian bank account assign to you and they will update your account balance(Updating of balance in the account generally takes an hour not immediate)
• Let's say you transfer $4000 at 3 PM to your custodian account, only at 4 PM then your account balance will show that you have $4000 transfer in
• 0.12% annual fees(this mean that if you have an investment of $10000, you will have to pay an annual fee of $12)
• There is a 0.75% forex conversion fee if you are making trade in a foreign currency

Onto the step by step guide on how to purchase a stock via SAXO!

Step 1)Transfer money into your SAXO Account

How much to transfer?

• Well, it depends on how much your budget to purchase those stock and whether you have enough in your bank
• Currently, the Brokerage charges for Saxo (Singapore market):0.08%, min $10
• Hence, the minimum amount one should invest to maximize the brokerage fee of $12,500
• 0.08%/100=0.0008
• $10/0.0008=$12,500
• if your trade is bigger than $12,500,the 0.0008% is bigger than $10.Compare to other brokerages charges which are far more expensive such as DBS and Standard Chartered,FSM and SAXO are one of the cheapest brokerage in Singapore(Except for tiger brokers)
• ***Note: You can invest in any amount you like it need not be $12,500, in my personal case I use either $3000 or $5000 or $7000

But what about the US Market charges?

• Again, it depends on how much your budget to purchase those stock and whether you have enough in your bank
• Currently, the Brokerage charges for Saxo (Singapore market):$0.01/per share or min $4.00 
• Hence, the minimum share one should purchase to make it worth it is 400 share
• 4.00/0.01=400 shares
• ***Note: it is just a guide, you can purchase any amount of shares you like just as long as your profit is more than your commission for purchasing and selling the shares.

So you have decided the amount? What's next?

• Transfer the money, of course!
• Do refer to this webpage on how to fund your account

Step 2)Time to buy some stock!

After you log in click on add instrument to search your stock ticker, in my case, i am buying APPLE inc stock(AAPL)(red circle)

After clicking buy,the trade ticket will appear,key in the quantity of the stock that you would like to purchase, in my case, I will sell my shares of APPLE

The terms are explained as follows:

• Bid: how much someone is willing to pay for the share(Someone wants to buy the share at a price of 318.75)

• Ask is the price a seller is willing to sell the share(someone wants to sell his share at a price of 318.84)

• Last traded: How much was this share bought or sold for in the last/latest trade transactions

• Net changed: How much the share has increased/decreased change is the difference between the current price and the closing price of the previous day (e.g market close at 1600pm at the previous day at $316.85 per APPLE share and it is now at the current market price of $318.89 per APPLE share)

• % change: Similar to net change but in a percentage form

• Type or order type: Limit order(buying or selling a share at a specific price, Always choose Limit order!!!), market order(buying or selling a share at the current market price or also known to buy or sell the shares immediately, OR Order get filled immediately)

• Buy./Sell: Select buy if you want to buy shares and select sell if you want to sell the shares(In my case, I select sell)

• Shares: How many share you would like to purchase(In my case, I select 6)

• Price: The price you would like to buy/sell your share at(In my case, I select at 319.55)

• Duration: DAY Order(A Day order is a limit order good for that business day only. If the order is not filled by the end of the trading day, the order will expire.This is the order we are going for, for simplicity sake.)

• Cost: Shares x price(6 x 319.55=1917.3)

• Nominal value: Saxo commission charges(as mention before,it is min 4.00 USD,hence 4.00 USD)

• Cash available: How much ash you have available in your account

*As taken from here: When a market is experiencing more buying volume than selling volume, it means that there are more traders buying at the ask/buy price, which has a tendency to push the price up.

When a market is experiencing more selling volume than buying volume, it means that there are more traders selling at the bid price, which has a tendency to push the price down.

After that click place order, and click confirm and you are done!(You have made your first investment!😁)

Pretty easy right?Do watch out for my next post,thanks for reading!