Welcome to Sisters In Law, news.com.au’s weekly column solving all of your legal problems. This week, our resident lawyers and real-life sisters Alison and Jillian Barrett from Maurice Blackburn advise on investing in cryptocurrency.

Question: Are there any protections over money invested in cryptocurrency? I came into $100,000 inheritance and invested most of it in different cryptocurrencies such as bitcoin and dogecoin, as it made more sense than putting it in the bank when interest rates are so low. However, my brother said that there are no protections in Australia if the currencies go bust. Could I really lose my entire $100,000? What protections are available with this kind of investing? I’m starting to regret my decision – Jimmy, Vic.

Answer: Cryptocurrencies like bitcoin and Ethereum are being touted as digital gold, with prices hitting record highs this year.

With more young people investing in cryptocurrency, and reports of almost one in…

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