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Disadvantages of online investment
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[QUOTE="Jasz, post: 257332, member: 61772"] The main disadvantage of online investing is the potential for fraud. Traditionally, investment firms were required to provide investors with a hard copy of their prospectus and other documents. Online platforms have no such requirement, which makes it more difficult to verify whether they are legitimate. Another disadvantage is that there are no clear rules governing what constitutes a suitable investment and when an investor should move his/her money out of an investment. The lack of regulation also means that many online platforms lack basic security measures such as encrypted data transmission, which can make them vulnerable to hackers and cyber attacks. This can be particularly dangerous if you're investing in crypto assets like Bitcoin or Ethereum because they aren't backed by the government or any other central authority. There are also tax implications when trading digital currencies. If you sell Bitcoin for fiat currency (dollars or euros) using an exchange such as Coinbase, then you'll incur capital gains taxes on the profit generated from selling your crypto assets for fiat currency. In addition, if you're holding your crypto assets in an account at Coinbase and decide to sell them, then you'll have to pay income taxes on any profits from selling them (this is called "short-term holding"). [/QUOTE]
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