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I’ve just started investing in cryptocurrency. Here’s what I’ve learned



Cryptocurrency has never spoken to me.

When the crypto brother who makes me my coffee raves about how he turned $ 100 into $ 10,000 with his clever trades, my answer is a resounding “meh”.

As a woman in my early 40s, I’m pretty far from the typical demographics of the crypto enthusiast, and honestly, my to-do list already feels pretty full without adding, “learn about the emerging financial technology that is the.” Might take power “. World ‘.

There are a couple of reasons why I’m not that into crypto

I’m naturally skeptical, so anything touted as the next big thing or the immediate route to millions will result in a raised eyebrow.

And just like I don’t bet on the Melbourne Cup because I hate tossing money on things I don’t know enough about, money in cryptocurrencies has always felt more like gambling than investing to me.

But the interest and number of people investing in cryptocurrency has grown exponentially over the past year. According to the ATO, around 600,000 Australians have invested in cryptocurrencies in recent years (but other estimates are much higher).

According to a June survey by the market comparison portal Finder (whose founders also operate a crypto exchange), a third of Gen Zs now own digital currencies, twice as many as in January.

Clearly, cryptocurrency is long-term, and since I cover it a lot in my job as the ABC News Breakfast finance host, I need to learn about it. And the best way I know is to bring some skin into the game.

I’m going to spend $ 100 of my hard earned cash on a three month experiment with cryptocurrency and see where I end up.

Why I don’t buy Bitcoin

I don’t know if Bitcoin will rule the world, and I don’t want to bet that people will be willing to pay more for Bitcoins in the future than they are today.

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Where to start

First problem: I have no idea how to start.

According to the same Finder survey, this was the biggest obstacle facing 22 percent of people interested in investing in cryptocurrencies.

I don’t want to go to one of the YouTube experts to get rich quick (of which there are around a million around, many of which are sponsored by smaller or alternative coins) so instead I turn to Professor Ellie Rennie of RMIT in Melbourne . She is a crypto researcher in her Blockchain Innovation Hub and has a lot of experience as an early investor.

I like their first piece of advice: “It’s very easy to lose a lot of money.”

“Never spend more than you can afford to lose.”

Professor Ellie Rennie stands for a portrait photo. Professor Ellie Rennie recommends setting up a digital wallet when trading large amounts of money to avoid potential hacks. (

Delivered: Professor Ellie Rennie.


Ms. Rennie helps me with the first step: setting up an account on a trading platform. They used an Australia based one, but there are literally hundreds to choose from.

You can go to a comparison page and see which one suits you best – they all offer different fees for trading, different cryptocurrencies, and different ways to deposit your own money like POLi, PayID, and wire transfer.

I have to enter personal details and my driver’s license for the ID, and a day later I get a call from the trading platform to verify my identity before my account is set up, which makes me feel safe.

Bitcoin scams leave a bitter taste

A seated Kevin Barracough with glasses peeks out from behind a financial document

The brother of a man defrauded of more than $ 400,000 has warned people to pay more attention to fake bitcoin traders.

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Do i need a digital wallet?

Ms. Rennie recommends setting up a digital wallet for trading larger coins because one of the big risks with cryptocurrencies is that someone could hack into your trading platform and steal your coin.

“Security is the most important thing when it comes to cryptocurrencies. You don’t want to keep your cryptocurrency on an exchange, ”she says.

Digital wallets are safe places to keep your cryptocurrency, much like you would put cash in a physical wallet.

That said, Mrs Rennie and I agree that I don’t have to worry about this just yet, as I only trade small amounts, but once you receive amounts that you would unfortunately lose, it is a critical step.

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Now for the exciting part – my first purchase! Buy something?

Bitcoin is obviously the largest and most famous coin, and there are literally thousands of others, but they come with a warning.

“They all have different levels of security, and we don’t know how long they’ll stay,” says Ms. Rennie.

“You have to be a little careful, especially when you do things that look cheap on these platforms. They can go away.”

We end up going for the second largest coin, Ethereum, because of the stability of its platform. I also like the idea because it is currently changing the way it works: According to a blog post by the project, it will soon reduce its energy consumption by 99.5 percent.

Bitcoin is known to have a carbon footprint on par with Portugal, so the idea of ​​not contributing to it is attractive.

Ethereum is trading at $ 2,804.15, so after transferring my $ 100 to the trading platform for a small fee, I’m now the proud owner of roughly 1/28 of an Ethere (the coin on the Ethereum blockchain).

Bad finance tips

A man excitedly raises his hands in a story about common financial myths.

Is rental money really “dead money”? And do you really have to give up your daily coffee to get ahead?

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Am i rich already?

That was a month ago, and I’d like to tell you that I’ve since learned all about cryptocurrency and made a pretty penny in the process.

That didn’t happen.

I’ve since been on vacation with my family, had some big stories, bought a dog, and didn’t do anything with my coin. And Ethereum has dropped to $ 2,578.67.

It turns out that just buying crypto is not enough to really invest in it, if you know what I mean.

So my new resolution is to spend at least an hour a week researching it and more actively managing my investment.

Ms. Rennie emphasizes that research is key to a successful digital coin experience.

She recommends newsletters from Messai, EthHub, and Spencer Noon, as well as the Coindesk, The Defiant, and Decrypt websites.

There are plenty of crypto podcasts out there too. Ellie’s favorites are Laura Shins Unchained and Bankless.

These are just your decisions and, as with any financial decision, you should do your own research and always consider your own circumstances before making any investment.

It feels a bit overwhelming to be honest, but also necessary if I’m serious about understanding cryptocurrency.

This article contains general information only. You should consider seeking independent professional advice regarding your particular circumstances.

Madeleine Morris is the financial presenter for ABC News Breakfast.

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1 in every 10 Irish investors hold cryptocurrency: Competition and Consumer Protection Commission survey



The Irish Competition and Consumer Protection Commission (CCPC) poll, published on September 16, revealed important facets of investment trends among the masses. CCPC is the legal body for promoting compliance and enforcement of consumer competition and protection laws in Ireland.
The survey came to the following results:


  • Information medium:
    • 62 percent of the 1,000 people surveyed used the Internet to obtain information about investments. The resources used by these people include online banking or investment websites, financial news websites, blogs, and social media platforms.
    • 38 percent sought advice from a bank or a financial advisor.

  • Investment form:
    • More than half, 56 percent of investors, prefer online investments.
    • Online investment options are more popular among those under 35.
      • In the under 35 age group, 36 percent preferred to use a trading platform or a mobile app such as XTB or Etoro
      • 29 percent of this age group use an online financial service provider like Revoult.
      • 22 percent of them preferred to invest through a bank or investment company.
      • 10 percent preferred brokers or agents.
  • Popular investment options:
    • For 1 in 5 people, stocks are the most popular investment option.
    • The second most popular investment option is government or corporate bonds, which are preferred by 12 percent of Irish investors.
    • 11 percent of investors held digital assets and a quarter of young Irish citizens speculated in cryptocurrencies.
      • The survey shows that more than 1 in 10 Irish investors have invested in one or more crypto assets.
      • Cryptocurrency investors in the 25 to 34 age bracket have grown to 25 percent. This group of investors is most open to savings in bitcoins or other digital coins.
  • Investment motivation:
    • 79 percent invested in order to achieve better returns for their money in the long term
    • 46 percent invested due to the current low interest rates.
      • In this 46 percent, 51 percent men invested more than 38 percent women because of low interest rates.
    • 26 percent invested in personal satisfaction
      • 47 percent of them were under 35 who invested in experiments.

Based on the results of the survey, Gráinne Griffin, Director of Communications at CCPC, concluded that Irish citizens switch online both when it comes to investing and looking for information about investing. The survey clearly indicates a transition to digitized investment, especially among the younger Irish population, Griffin said.
For the latest crypto news, investment tips, and real-time price updates, follow our Cryptocurrency page.

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Cryptocurrency: Here’s How the Top 5 Coins Have Performed Since April 2021



Cryptocurrencies have got off to a slow start this year, largely due to an order from the Reserve Bank of India (RBI) to banks telling them not to trade crypto. Cryptocurrency trading accelerated after the Supreme Court lifted the RBI ban in March and allowed coins such as Bitcoin, Ethereum, Dogecoin, and others to be traded. Since then, several online exchanges such as CoinSwitch Kuber and CoinDCX have flourished. But investing in these virtual assets requires due diligence given the extreme volatility of most cryptocurrencies. One way to do this is to look at the historical dates of these coins.

How cryptocurrencies have behaved in the past few weeks and months can give an idea of ​​their potential in the near future and whether a person should invest now or wait.

This is how the top 5 digital coins have behaved since the beginning of this financial year (as of April 1):


Bitcoin is the oldest cryptocurrency in the world. Since its introduction in 2009, it has remained an undisputed leader in the cryptocurrency market. It was Rs. 42 lakh on April 1st of that year, but by the end of May, when the market collapsed massively due to a Chinese crackdown on mining, it had hit a low of Rs. 22 lakh. However, Bitcoin has recovered. On September 17th it was Rs. 37 lakhs.


Experts say this is the only virtual currency that has a chance to challenge Bitcoin’s dominance, but it is far from realizing its true potential. At the beginning of this fiscal year, Ethereum was trading at Rs. 1.40 lakh. It broke the Rs. 2 lakh barrier by early August. This was the time when the Ethereum blockchain had the big London upgrade. Since then, it has grown in value continuously. As of September 17, at the time of writing, it was Rs. 2.76 lakhs.


Launched in 2017, Cardano is a relatively new cryptocurrency coin that has skipped the line to find its place in the top 5. Billed as a third-generation blockchain (Bitcoin and Ethereum are the first and second generation, respectively), Cardano achieved a return of almost 150 percent in just one month. On July 20, it was trading at Rs. 79.71 but by August it had peaked at Rs. 191.41. It saw further gains over the next few weeks, hitting an all-time high of Rs. 227 earlier this month. But profits have since started to decline. On September 17, at the time of writing, it was Rs. 187.82.


Tether is a stablecoin pegged to the US dollar. As the first coin, it is the most popular stablecoin. Since it is pegged to the dollar, meaning that each Tether coin should be backed by actual dollars in Tether Limited’s reserves, it is very stable compared to other cryptocurrencies. If this stability is predictable, it also limits the ability to grow wealth quickly. It stayed within the Rs. 73–75 this fiscal year. It was about Rs. 77 on 09/17.


It is the fifth ranked cryptocurrency in terms of market capitalization. Technically, Ripple is not a cryptocurrency. It facilitates open source payments and XRP is the cryptocurrency that runs on this network. The price has doubled from Rs since April 1st. 41 to Rs. 80 now. But it hasn’t seen a rally similar to what it did in late 2017, which hit its all-time high of Rs 242 in early January 2018. At the time of writing, it was Rs. 84.

Interested in cryptocurrency? We discuss everything about crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music, and anywhere you get your podcasts.

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financial: Cryptocurrency Hyper Fund under government scanner



NEW DELHI: The government is closely monitoring the cryptocurrency in the market based outside of the country after alerting that the authorities responsible for investigating financial fraud are watching a company called Hyper Fund.

Sources said Hyper Fund, a DEFI from the Hyper Tech Group, recently got under the radar. The group claims to have launched the Hyperfonds to provide a decentralized financial infrastructure. Hyper Fund was announced in mid-2020.

However, according to the company’s website, it is run by Ryan Xu, however, using the Multi-Level Marketing (MLM) model, Hyper Fund has attracted investors with higher returns and such offers, a common practice with Ponzi programs that have alerted authorities first place.

According to sources, complaints against such funds are piling up in several states. In India, the RBI, the Union Finance Ministry and SEBI had warned against trading in cryptocurrencies. The RBI plans to launch India’s official digital currency – E rupee – shortly.

The Treasury Department has made it clear that virtual currencies are not legal tender either. Therefore, VCs are not currencies. The RBI has also made it clear that it has not granted any company / company a license / authorization to operate or trade in Bitcoin or a virtual currency.

In June 2018, Amit Bhardwaj and his brother Vivek Bhardwaj were arrested by Pune police at Delhi Airport in connection with an alleged pyramid scheme. Bhardwaj, started his own Bitcoin mining operation and reportedly defrauded more than 8,000 people across the country for Rs 2,000 crore.

He has filed a complaint with the Delhi Police Department’s special cell alleging that he received a blackmail call and was asked to pay protection money on September 6, 2021 in exchange for promised higher returns.

UK regulators have issued warnings about such funds, and the Financial Conduct Authority (FCA) has issued warnings for both hyper-funds and fund advisers.

On its website, first published March 23, 2021 and later updated on August 31, the FCA said, “We believe this company may offer, advertise or sell financial services or products in the UK without our approval Any financial service or product required in the UK must be authorized or registered by us. This company is not authorized by us and is aimed at individuals in the UK. ”

She warns investors against such a fund and goes on to say, “You do not have access to the Financial Ombudsman Service or are protected by the Financial Services Compensation Scheme (FSCS), so you are unlikely to get your money back if something goes wrong . ”

The website used by these companies under the FCA is,

Decentralized finance offering (DEFI) via blockchain technology from HyperTech Group, which is said to be based in Hong Kong, sources said Indian regulators and agencies have started monitoring the situation.

Following actions by financial regulators such as the US Security and Exchange Commission and the UK Financial Conduct Authority, Indian regulators and enforcement agencies have started overseeing investments in Hyper Fund – a decentralized financial offering powered by blockchain technology from the HyperTech Group.

Financial regulators around the world recognize the fact that Ponzi program organizers often use the latest innovations, technologies, products, or growth industries to attract investors and promise high returns on their program. Potential investors are often less skeptical of an investment opportunity when they judge something new, new or “current”. On its website, Hyper Fund claims to be “the strongest rocket in blockchain funding”.

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