Scammers take advantage of the hype and the less regulated environment to ‘invest’ in Bitcoin or another cryptocurrency on your behalf.īefore you invest you should ask yourself if you are willing to lose some or all of the money you have invested and know that if you go ahead you are investing with little or no protections behind you.Ĭryptocurrency investment scammers are convincing. It is very difficult to identify legitimate cryptocurrency investments from scams. In Australia, cryptocurrency is not treated as ‘money’ or a ‘financial product’ and you have less protection if you invest and it turns out be a scam or you lose a lot of money. Bitcoin is the most well-known form of digital currency.
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The MoneySmart website also contains information about how to avoid investment scams.But even if they are not on the list it could still be a scam. If the company that contacted you is on the list – do not deal with them. Check ASIC's list of companies you should not deal with.Any business or person that offers or advises you about financial products must hold an Australian Financial Services (AFS) licence. Check if a financial advisor is registered via the ASIC website.If you are considering investing, always remember to: About Scamwatch Expand submenu for "About Scamwatch".News & alerts Expand submenu for "News & alerts".Scam statistics Expand submenu for "Scam statistics".Attempts to gain your personal information.Types of scams Expand submenu for "Types of scams".Some figures contained in this report are forecasts and may not be a reliable indicator of future results. While useful for detecting patterns, the past is not a guide to future performance. To remove your name from The Daily Reckoning Australia subscription and associated external offers sent from The Daily Reckoning, unsubscribe here.Ĭalculating your future returns: Never invest more than you can afford to lose and keep in mind the ultimate risk is that you can lose whatever you’ve invested. Please seek independent financial advice regarding your own situation, or if in doubt about the suitability of an investment.
All advice is general advice and has not taken into account your personal circumstances. By submitting your email address, you consent to Agora Financial Australia delivering daily email issues and advertisements. We do not rent or share your email address. The Daily Reckoning Australia is committed to protecting and respecting your privacy. Īll content is © 2017 Agora Financial Australia Pty Ltd All Rights Reserved. We just need your permission to send you The Secret $20 Bitcoin Blueprint. If you’re not on it yet, I simply do not know why. We’re at the early stages of a brand-new asset class where these kinds of moves are possible.Īt the very least, you should understand what’s happening. Even when I read back over that last sentence and see it in black and white…it seems crazy. You could be cheating yourself out of the only chance you may ever have to turn a single $20 bill…into a retirement-sized fortune, in a matter of months.
Historians will call today’s cryptocurrency market the biggest BOOM ever.īigger than the stock boom of the 1980s.bigger than the tech boom of the 1990s…and bigger than the property boom of the 2000s. With dozens of digital currencies exploding as high as 3,475%, 21,611% and even 81,465%.
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