Cryptographs are still risky – Wiener Zeitung Online

Dubiose operators from Frankfurt / Vienna, Bitcoin and Co, are increasingly trying to attract young investors to social media. "It seems to target younger consumers, for example, a promising investment around the new crypto currencies," said Wolf Brandes from the Consumer Center Hesse.

Bids are often forbidden to prevent pyramid schemes, "or the money invested simply disappears and the provider is no longer available."

According to a survey by German Consumer Centers, Internet users tend to be skeptical about non-paying digital currencies. Thus, 77 percent of respondents who know about crypto currencies can not imagine an investment. 70 percent say it is risky or very risky. Even in the case of serious offers, investors need to be aware of the risks due to strong fluctuations, warning consumer interest representation.

"Investors should know that Crypto's foreign exchange investment is a gray capital market," said Brandes, Consumer Hesse Team Leader Market Watch Finance. "There is no regulation and investor protection."

In every tenth case, buying is an option, another eleven percent is indefinite. The greatest willingness to invest is 18-29 years (28%). Approximately 1,000 Internet users were surveyed. A good half said they knew about cryptography.

The main argument for buying was that potential buyers were given the opportunity to speculate and high profits (26 percent). In the past, digital currencies only achieved rapid results, but this year they fell sharply. The survey of Bitcoin & Co's "money in the future," said only 17 percent of respondents.

Even crypto currencies as a means of payment outweigh the skepticism information. "In addition, some vendor crypto currencies are currently being accepted as a payment instrument." Whether or not this is a marginal phenomenon for consumers is a real alternative to payment, it is still completely open, "said Kerstin Schultz, Central Consumer Product Leader Market Watch Finance.

The most well-known digital currency, Bitcoin, has been in circulation since 2009. This largely allows anonymous payments, regardless of governments or banks, and is primarily used for payments on the Internet. Meanwhile, there are many other cryptopons.

The Crypt currency conversion is also a popular hacking target. Since 2009, a study by the University of Tulsa, United States, has broken one third of all trading platforms. State Printing House subsidiary Youniqx Identities AG has developed physical key memory for block network systems with Graz-based Bitcoin Coinfinity to prevent encryption currencies being seized.