Monday , August 19 2019
Home / austria / Cryptocurrencies as Bitcoin fail in field test

Cryptocurrencies as Bitcoin fail in field test

The Labor Chamber (UK) has carried out a practical test. The result was not only high costs but also loud. "Crypto currencies are not classified as legal tender, they are highly speculative and not a serious investment class for consumers," Christian Prantner, a UK consumer activist, said Wednesday.

>>> Read: Bitcoin miners threaten mass extinction

High and non-transparent expenses

UK has purchased stationary purchase points (post office, tobacco shop, shop, automatic bank) for 400 euro cryptographic currencies (Bitcoin, Bitcoin Cash, Litcoin, Dash, Ethereum). For online trading platforms, crypt currencies were purchased for another 500 euros (Litcoin, two parts Bitcoin, Ethereum, Ripple). Shortly after the return swap had arisen, the sales costs were also incurred – only € 769.96 out of € 900 remained "minus" € 130.04, which can be explained by exchange rate differences and expenses, according to the UK.

>>> Read: WhatsApp plans its own encryption currency

Positive conclusion

UK Conclusion: "There are different costs when buying and selling cryptocurrencies. Usually it stays in the dark, the cost of which actually arises." It is also almost impossible for average consumers to appreciate the highly volatile currencies. “The Chamber of Labor therefore considers cryptographic money to be very secret.

Source link