The Chamber of Work (AK) has undergone a crypto currencies practice test. Not only because of high costs, the result is shaken. "Crypto currencies are not classified as legal tender, they are highly speculative and are not a serious investment class for consumers," CA's consumer rights activist Christian Prantner warned on Wednesday.
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High and non-transparent costs
The AK has purchased 400 cents (Bitcoin, Bitcoin Cash, Litcoin, Dash, Ethereum) at stationary purchase points (Post, Traffic, Store, Automatic Cashier). For online trading platforms, crypto currencies were purchased for another 500 euros (Litcoin, two Bitcoin tranches, Ethereum, Ripple). Shortly thereafter, after the replacement for the return – there were also sales costs – only EUR 769.96 remained at EUR 900 – "minus" of EUR 130.04, which can be explained by exchange differences and costs, AK states.
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A disagreeable conclusion
Conclusion AK: "When you buy and sell encrypted, there are various costs. It usually stays in the dark, and costs have actually come up." For average consumers, it is also almost impossible to estimate the very unstable rates of crypto currencies. "Therefore, crypto-money Chamber of Commerce is considered very cryptic.