Consumer Protection Policy
When making an investment it is always an imperative idea to do your research first. When it comes to cryptocurrency investments, NGS Crypto strongly suggests that you look at the following key areas.
Where is the company registered? Depending on the jurisdiction, a company based offshore may be difficult to deal with in the event of a dispute.
Is the company compliant under local laws and regulations, for example ASIC and to ATO? If so, you have ample resources and the ability to investigate the companies legitimacy and some level of recourse in the even of a dispute.
Check the companies Bitcoin Wallet address on a site called Blockchain Explorer. This will inform you of how long the company has been transacting in Bitcoin and how much Bitcoin the company has received, but more importantly, paid out to their investors.
Do they have low investment levels that allow you to take advantage of their product first without risking a large amount of capital?
Blockchain and Cryptocurrencies are both new technologies so it is important that the company provides full education and training on the underlying assets of the investment.
Does the company have more than two years of positive online reviews?
Can you access your returns daily and is there a cost at doing so?
Like all investments you should receive a written agreement of the terms and conditions of your investment. This document should be a legally binding agreement under Australian law, or the country in which you reside.
Does the company have proof of an existing client base and can they prove that they are able to undertake the activity to deliver their stated return on investments?
Does the company have any partnerships with companies in the cryptocurrency industry, such as cryptocurrency exchanges or hardware suppliers?
Are you able to meet with any of the company’s consultants or at the very least, do a video call?
It is no longer good enough to say, “I keep my money in the bank”. If you hope to create real wealth in today’s economic environment, you have to go beyond that and it is absolutely critical that you have a clear and thorough understanding of what you’re investing in.