When I was a young undergraduate, I found the concept of crypto to be intriguing. Even today, I hold the belief that blockchain technology and crypto will be able to coexist and work in tandem with the traditional finance industry.
That’s what drove my co-founder, Gerry, and I to start Coinhako – the absence of reliable and accessible crypto platforms in Singapore. There was a market gap and we went for it.
It was very different back then. Almost a decade ago, the crypto scene was very basic, elementary. Conversations were centred around which platform to buy and sell crypto as it was difficult to find a stable and reliable crypto-trading platform, and which sites and forums are informative as access to crypto and blockchain knowledge was scarce. Now, we are spoilt for choices, to the extent that it can be daunting to differentiate between legitimate projects and less-than-ideal ones.
In the crypto space, it is easy to buy the hype and get carried away by novel projects. However, without a clear purpose or use case, most of these projects will lose the hype and shine over time.
That’s why it’s important to be disciplined in your trading strategies. As they say, time in the market is better than timing the market. It is a must, to do due diligence and research – be it trading in the equities, commodities, or crypto market. Look beyond the hype and assess if the project has a sound foundation. Are they offering products or services which have a strong use case, does the team have the relevant experience, and is the project’s roadmap well-thought-out?
The potential of Web3 is vast and ARC presents a great opportunity to connect with a close-knit, passionate, and like-minded community. Participants can be inspired and motivated by one another, and information can be freely shared, pushing and expanding the boundaries for the future and development of Web3.
I am confident that ARC Community will be one of the driving forces in generating awareness and adoption of the Web3 space.