Singaporeans have long been known to embrace the 5Cs, namely cash, car, condo, credit card, and country club.

In recent years, the appeal of the fifth C, the country club, has waned.

This longing has now been replaced by cryptocurrency, an exciting “C” that’s been all the rage in the past few years.

Cryptocurrencies are the hot new investment trend that’s been hogging the headlines and luring thousands of newbies to pump money in.

For crypto enthusiasts, stocks seem old-fashioned and boring by comparison.

But the question is: are cryptocurrencies right for you?

Or should you play it safe by parking your money in stocks?

Blockchain and cryptocurrencies

The popularity of cryptocurrencies can be traced back to the development of Bitcoin and its underlying blockchain protocol.

In a nutshell, blockchain is a distributed ledger used to store and track information and transactions, relying on a decentralised consensus to verify the information added.