Investing in digital currencies is fraught with danger, not just because the prices are so volatile.
It's bad enough realising that somebody's nicked £25,000 of your hard-earned cash. It's even worse when you realise there's little chance of getting it back.Be warned.
And it wasn't just Bitcoin, other cryptocurrencies interested me, such as Ethereum. I chose it not for any other reason than it was second to Bitcoin by valuation and looked like it could emulate that 100,000% rise. So I printed it out, but also made the fateful decision to store it in my Gmail drafts, so I could copy and paste it when I needed to make a transaction rather than laboriously typing it out each time.Image captionWhen the price of Ethereum rocketed, I was soon sitting on a decent pile of money.I hadn't used my private key to access my account for some time and was getting the jitters when the price of all cryptocurrencies began to fall in 2018. Maybe it was time to take some out.
A transaction on Ethereum cannot be reversed and there is no safety net - nothing like the Financial Services Compensation Scheme that guarantees up to £85,000 on UK bank accounts.
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