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Start early in cryptography and become a millionaire by 31: Tokenize Xchange CEO – Wired PR Lifestyle Story

‘Crypto bull’ is not your usual animal. He arrives without warning and runs away from your claws before you finish saying the word ‘cryptocurrency’.

Crypto is often seen as an unpredictable industry, with news calling for attention to how this spectrum has been moving in recent years.

We are often respected when we read stories of people who have done cryptography, as it gives us a glimpse into the tangible life created by something that cannot be seen, felt or heard.

Today, we had the opportunity to talk to 31-year-old Hong Qi Yu, Tokenize Xchange, the general manager of cryptocurrency exchange in Singapore, who in many ways reflects the normal man on the street.

A graduate of NTU, he worked as an engineer and coder

At the age of 18, Qi Yu graduated with a degree in Electronic Engineering and Communication from the Singapore Polytechnic. He then went to Nanyang University of Technology to pursue a degree in electrical and electronic engineering.

After graduating, Qi Yu worked in various engineering and coding jobs at Atos, TransPerfect and Bambu for almost three years.

Hong Qi Yu / Image Credit: Bloconomic

His seemingly normal life changed in 2016, when Ethereum underwent cryptocurrency when he was a coder for a local FinTech company. Since then, life has been a dramatic whirlwind of “rags to riches”.

“I was immersed in the crypto-rabbit hole … then the digital asset industry was in its infancy. There weren’t many platforms available to support fiat, and the fees were very high, so I created Tokenize Xchange to access the mass market without friction.

Image Credit: JustCo

“Together with a group of passionate fans of crypto and blockchain, we have found the need for a safe and secure platform with competitive quotas and an SGD-based order book for digital assets,” he said.

A passionate team is a key factor in the success of your business

Qi Yu tells his group of passionate fans of crypto and blockchain about the reason his business is where it is today: more than 50 cryptocurrencies are listed, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL ) and Polkadot (DOT). The exchange has reached 200,000 users worldwide in five years.

Tokenize Xchange Group / Image Credit: Tokenize Xchange

In short, Tokenize Xchange is a centralized exchange platform that uses reliable protection solutions. It offers Fiat-to-crypto and crypto-to-crypto pairings and has markets in SGD and the U.S. dollar (USD). The Singapore Monetary Authority currently operates under the exception of the Payment Services Act.

“In terms of volume and liquidity, I believe that the Tokenize Xchange Singapore dollar (SGD) demand is one of the major book exchanges. I would consider ourselves a medium-sized cryptocurrency exchange. .

Although the business cannot share the full value of its assets, Qi Yu said his cryptocurrency token TDK has recently reached a market cap of US $ 1 billion – the second token in Singapore to achieve this – suggesting that it is a force to be reckoned with. .

An early start is an advantage

The creator acknowledges that the early start of the business has helped to focus on building its products and infrastructures in cryptography before others are introduced, which allows it to add more products to its user base with low fees, which proves to be a point of sale for customers. . “That has doubled our user base from 2020 to 2021,” Qi Yu said.

Tokenize Xchange Commercial Page / Image Credit: Tokenize Xchange

Like many companies, Tokenize Xchange also weighed in on Covid-19. “The inability to organize live events and workshops to educate and share our users during the pandemic has certainly hampered our outreach efforts,” Qi Yu said.

“However, we alleviate this by organizing regular webinars and podcasts, such as cryptography and stock viewing sessions, streaming sessions with Axie Infinity, or Tokenize Xchange presentation sessions to meet the wide range of interests of our users.”

Millions of cryptocurrencies bullish on Bitcoin

Giving his personal perspective, Qi Yu said he is still “very bullish on Bitcoin this year and next”. “I hope to be able to see a six-digit Bitcoin by 2022.”

Although Qi Yu did not disclose his net worth, based on his physical assets, he is probably a millionaire. He bought his current condominium and his Tesla car with the money from the cryptocurrency. A condominium starts at S $ 1 million, and a Tesla car, including taxes, typically costs S $ 150,000.

Hong Qi Yu (center) at an event / Image Credit: DigitalNewsAsia

Examining the types of cryptocurrencies he has, Qi Yu said: “In my wallet, I mostly have ETH, DOT and our exchange tokens TKX.”

Commenting on the evolving cryptographic landscape, as someone who has been involved in the industry for a long time, he believes that playing a long game will be the way for investors.

“Crypto is here to stay, but we will gradually move to a regulated cryptocurrency landscape as regulators become more involved. Investing in cryptocurrencies is like investing in technology stocks like Google and Amazon when both companies were listed on the stock market. that can be a long-term option, ”he said.

As for his business, he has no intention of slowing down and has only just begun. “After working in the bear market in 2018 and 2019, we have definitely come a long way. Today we want to grow our team and expand to other markets in the region.”

Featured Image Credit: DigitalNewsAsia, Economic Times




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