Cryptocurrency: How Risky Is It for the Average Investor?

We’ve all heard about the cryptocurrency millionaires who became wealthy overnight. High profile companies such as Tesla and PayPal who accept cryptocurrency payment have also helped shift perceptions about it. Unfortunately, many investors have also been left out of pocket, as was the case with the Australian cryptocurrency exchange myCryptoWallet which collapsed last week and left investors unable to access their funds. This isn’t the first time a cryptocurrency platform in Australia has left investors empty handed, with Melbourne-based platform Blockchain Global Limited collapsing in October.

2SER Monday Daily was joined by John Hawkins, economist and Senior Lecturer in the Canberra School of Politics, Economics and Society at the University of Canberra to discuss the dangers of cryptocurrency for the average investor.

Image: eamesBot, Shutterstock

You may also like