Cryptocurrency: What you need to know before investing

SQUID, a new crypto token capitalizing off the popularity of the Netflix sensation Squid Game, saw its value crash to nearly zero – after skyrocketing by thousands of per cent – in an apparent scam. At the same time, Bitcoin is trading around US$62,000 ($76,967) this week, a nearly 70 per cent increase from a year ago.

If you’re wondering, as an investor, whether you should dabble in digital tokens, you’re likely to hear very different opinions from investment advisors.

Cryptocurrencies like Bitcoin and Ether are still prone to dizzying highs and stomach-crunching drops and the crypto space is still rife with scams. Anne Gaviola has more on what you need to know if you’re thinking of investing.

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