In the fourth and final episode in the series which unpacks crypto currency for would-be investors, Luno’s Johan Hetzel and Robyn Berger of Bowmans provide key considerations for those starting out. Hetzel, a forensic accountant, offers some excellent tips on how to avoid being scammed. Tax expert Berger shares her insights on what the taxman will demand – with the good news that losses can be offset against other income (up to a limit). In this episode we also cover critical homework required before making that first investment in a digital asset, the role of financial advisors and much more.
Excerpts from the interview with Johan Hetzel and Robyn Berger
Johan Hetzel on buying crypto through a reputable exchange
We see quite a large number of scams where people are being offered a ridiculous return on investments, such as investing in something like Bitcoin, especially individuals who are not as well averse to the complexities around the crypto industry. So, to answer your question, crypto should and must be bought through a reputable exchange. It is specifically to protect consumers because there are some people going around claiming to be brokers for some of these exchanges who are in fact not. That is why we welcomed the recent Financial Sector Conduct Authority’s announcement last month, because it will bring some much needed consumer protection. For people who are looking to purchase crypto, it is…
