Now a days common Australians are fascinating by initial coin offerings (ICOs). Australians are investing actively in the ICO market. Australian Broadcasting Corporation describes the experience of many Australian investors. Despite the potential to incur fast loses just as easily as fast profits Australians are participating in the digital currency world.
A 58 -years old casual Cryptocurrency investor, Warren Stokes recounts being introduced to the world of Cryptocurrencies. His high school aged son began receiving postal bags filled with $50 notes in the mail approximately seven years ago. “He explained to me he was on a group on Reddit,” Mr Stocks said. “1,000 people were joining their computers together to mine, honestly I had no idea what is talking about.
A Youtuber , Alex Saunders, who has covered the Cryptocurrency markets since 2012, has indicated that some IC investors are gaining exposure using borrowed money, stating,”I have heard Australians are taking out money on their home loans to get into Cryptocurrencies. Lots of Australians are investing first time. Although they are latecomers but they will learn that the hard way.”
“With the number of scammers out there who have made really high quality fake websites and fake LinkedIn profits.. it is actually very difficult to know what’s true what’s not.” said forty year old Australian Neil. He attests to having had mixed experience with initial coin offerings.
Mr. Stokes said, “some people who don’t know how to ride out a drop have sold out at the bottom, there will be a lot of people who will panic and lose their money.”