(Post 5/Week 4)zero dollar business:carousell and cryptocurrency(Ocoins?) part 2

It's week 4 of sonicericsg and I am back with another update on carousell and my journey in researching cryptocurrency

Picture link

Last week, I manage to sell off one of my old comics(it's a death note Chinese comic btw)

My carousell profile

As you can see in my carousell profile, its full of random stuff which is mostly book, most of it is given by my friends or brought by me at second-hand bookstores at bras basah(talking about bras basah, do you know you can also sell your second hand/used books over there?)

Anyway, coincidentally Sg investment lady was posting about how to save money this week and she touches on the topic about selling stuff carousell, I decided to ask her more about her experience selling stuff on carousell, here are some tips that she gave me

Tip 1: Take good photos but do not photoshop it too much

Tip 2: Place a slightly higher price for potential buyers to cut, giving them the feeling that they manage to save a few dollars

Tip 3: State the condition of the item and preferably be clear with the model, color, and sizes of the item

And lastly, since CNY is around the corner, she recommended that everyone should take the chance to do spring cleaning(I should probably do some spring cleaning on my own soon....)

Alright, let's move on to this week research in cryptocurrency:)

This week I decided to research the areas of different types of cryptocurrency...

Research link

Here are a few of the different types of cryptocurrency that I have research summarized

1.Litecoin(LTC)

Has a faster block generation rate and a faster transaction rate

2.Ethereum(ETH)

The second most popular cryptocurrency after bitcoin and is split into two ethereum(ETH) and ethereum classic(ETC)

3.Other cryptocurrencies

Zcash(ZEC),dash,ripple(XRP),monero(XMR)

4.Other cryptocurrencies

There are over 800 cryptocurrencies.

Honestly, there is a lot of cryptocurrency out there that are probably less well known compared to bitcoin,ethereum which make it pretty mind-boggling. However, to catch/spot the next bandwagon, I probably need to research more about the different prices of cryptocurrency and they're worth first to judge which cryptocurrency to focus on.

By the way, Obike has announced that it is launching its own cryptocurrency call: Ocoins

Link:http://www.tnp.sg/news/singapore/obike-launch-own-cryptocurrency-users-can-earn-while-riding

From the article, it seems that not only Ocoins can be used to pay for the rides and topping up the obike wallet, it is also able to buy online content or any application the Tron platform

Some fact about Tron...

Tron is a blockchain platform that own tronix cryptocurrency which is ranked 18th worldwide with a market capacity of US$2.6 billion (S$3.5 billion) and is trading at US$0.04

And also...

Obike will reward its user with Ocoin for riding(this could be a zero dollar opportunity!)

I am definitely going to watch out for more Ocoin news and in the meantime its back to researching cryptocurrency

Stay tuned to the next week blog post!guys(and girls!)

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(Post 4/Week 3)zero dollar business:Carousell and crytocurrency

Hi guys,this week I will talking about one of the zero dollar business(okay,business sound too flashy,erm..side income?):carousell

So how to carousell?(I am not affiliated to carousell in any ways,btw)

Step 1)Create an account on carousell

Step 2)Rammage your room for unwanted item

Step 3)take picture of the item

Step 4)Post picture on carousell

Simple isn't it?All you really need is things to sell and a working phone and off you go!

Often times,if you google for zero dollar business or how to make extra money chances are that you will encounter the suggestion of selling your unwanted stuff online.And...people reaction to it will be"hey,that's a good suggestion and went back to looking for other suggestion or doing other things"

What's really stopping people from doing things or making extra money is that one word

And the one word is....

"Procrastination"

People would always come up with a ton of reason like"I'm tired,I will do it tomorrow or I will do it later etc"

Of course,I am also one of them.we all are.But lately,I am working hard to fix that bad habit by having the mindset of "doing today,not tomorrow".

And starting with writing this blogpost/carouselling is the first step.

Anyway on to crytocurrency...

I have decided to finally enter the cryptocurrency battlefield.I know that I had say before that I am not about to jump into cryptocurrency(read here) but I decided to look up into it,at least...

And to do that I need to armed myself with some weapon and armour(in this case,knowledge) and hence this mean,researching time!Here is a compilation of my "research" result this week on crytocurrency wallet

1.Crytocurrency wallet

Research link


*Keynotes to takeaway from the redearch link above

1.Crytocurrencies on the blockchain are store in a "wallet",which are simply an address on the blockchain

2.Each wallet has a public address and a private address

Public address:The address that people send funds to

Private address:The "password" that you use to access and send your funds

Do not expose your private key until you are ready to spend your fund otherwise you wil probably lose all the money in your wallet!

3.Different types of wallet

Online wallet:The easiest and the least secure way to store your money.Not a good long term storage solution but it is fine for buying things and funding your trading account.Exchanges like coinbase also have their wallet built in.

Mobile wallet:Basically you download a mobile apps and store the bitcoin in it.It is more secure than online wallet but your phone may be prone to hacking and breaking

Desktop wallet:Similar to mobile wallet but on computers

Hardware device wallet:Hardware device(think of it as a thumb drive with solar panel on it's sides built especially for storing crytocurrency keys but can still be damage.

Paper wallet:It mean storing your private key on paper and the most    hacker proof e.g keeping it in a safety deposit box.Do use a waterproof paper(not sure about laminating it though)

Will continue to compile more of my research next week...(busy week coming up!)

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(Post 3/Week 2)Oh no,I didn't invest in bitcoin!

Presenting the number 1 favorite topic in the market currently...

BITCOIN!

FEW things to know about bitcoin

1. Bitcoin is a cryptocurrency(well done, Sherlock!)

2. One bitcoin worth has been steadily increasing in its value

picture link

3. There is a limited number of bitcoin that can be mine, this means that it is finite

I am not an expert investor but from the amateur(more like newbie)point of view, Bitcoin deserve to be invested just from the reasons given above,this is because...

1. Bitcoin has been steadily increasing in its value

With more people jumping in on the wagon, perhaps the price will increase?

2. Bitcoin has a finite supply

Anything that has a finite supply(or at least I think), will increase in price

To me even though it seems like an okay investment opportunity, I have decided to not go into it, at least in the near future...(irony, isn't it?)

Here are some of the reasons...

1. I do not have the necessary capital to invest in bitcoin(buying bitcoin, transactions fee etc)

2. I have decided from the start that I will only be using only part of my saving which is about 10k(read here) to invest. To me having values and ground rules set beforehand is the most important.

3. My capital has already been set to be invested in various ways...

4. Perhaps, just perhaps, the bitcoin hype could be another bubble

In my opinion, It's probably too late to jump on the bandwagon of bitcoin(unless you are rich),it would be wiser to scout for the next bandwagon to score instead(which require lots of experience that I do not have)

But perhaps, this bandwagon has just started its engine only

Who knows?

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(Post 2/Week 1)Vicky hierarchy of financial freedom

I came across this concept at Facebook not very long ago and was quite intrigued about it.

Presenting Vicky hierarchy of financial freedom!

So what is it all about?

Basically, most people would be at the bottom of the pyramid, the financially secure and financially f***ed(I don't really condone bad language, this is just a one-off thing to emphasize it, so I apologize beforehand)

And of course, that includes me!

With just a few months left in the army, I have accumulated about 10k from army pay(which is something that I am proud of...)

However, I do have liabilities aka debt(trying to learn some hard financial term currently)also

Here are some liabilities on the debt list...

1.Phone bill
2.Education loan
3.Daily expenses

I am pretty grateful to my parent that this is all I have to pay for my liabilities(for now, that is),

But liabilities are due to increase in the future, be it for study loan or household expenses, hence I believe we should seize the initiative to manage our finances better.

If not now, then when?

Discussion are welcome, do share your opinion with me:)

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First post!!

Hi everyone, I'm soniceric, my real name is of course not soniceric, it's just Ericsson :)

The reason I name this blog as soniceric is a word play on the brand of "sony Ericsson" hence soniceric(geddit?)

I started this blog as I am inspired by the many financial blogs in Singapore, I am grateful for the interesting insights and tip that those blogs have given me

Just a little bit about myself

-have about 10k to invest from saving during NS days(or currently in investment)
-love to try out different way to make money
-will try to update the blog once a week

This blog will be slightly different from all the financial blog that you have read so far not only I will be talking about investment, I will also be talking about the other way to earn passive income with zero dollars (yes you heard me, zero dollars!)

I am still on the journey to attain financial freedom, are you also in the journey to attain financial freedom?

If so do join me in this journey! :)

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