Many Australians feel betrayed by the government’s sputtering vaccine rollout, which they say has squandered the sacrifices made last year. An inchoate blend of rage and sadness has settled over this normally cheerful country. Yet, even as Australians slip into muttering curses and snitching on lockdown violators, they are also seeking ways to create a different stream of income and seize opportunities.
This intensifies when locked down and out-of-work Australians struggling to access Covid disaster payments are waiting hours on the phone for assistance, and even longer in some branch queues, with Centrelink staff worried in-person identification checks risk spreading the virus.
Services Australia said on Wednesday it had resolved an online issue that had caused problems for people trying to link their myGov and Centrelink accounts. But the agency admitted that the 71,000 claims received on Tuesday alone continued to cause service delays even as wait times were being reduced.
“We had this incredible window that nobody else in the world had, with nearly a year of minimal Covid transmission, and we were told the whole time that ‘it’s not a race,’” said Maddie Palmer, 39, a radio and events producer in Sydney. “I didn’t believe it then, and now we’ve been proven right. It was a race — and they screwed it up.”
Like many in Australia, Ms. Palmer said she often had to talk herself down from anger. Her days, living alone, have blurred into a routine of laptop work, a walk around the neighborhood and entertaining her cat, Dolly Parton.
Last week, she tried something new. On Twitter, she noticed an article suggesting you can start trading financial markets online with the help of experts. “This is not something I used to consider as I simply have no idea how to trade” she said. The article mentioned that you can start investing with trading firms that were evaluated and that are certified.
She said it was an attempt to recoup some of the losses from covid and it was an exploration more than anything else. “Like everyone, I want my life back,” she said. “If I knew about this possibility two years ago, I could have easily ignored it, but knowing that it can work I would’ve said, yep, sign me up.”
Fraser Hemphill, 28, a software engineer in Sydney, found what he hoped would be a more effective solution. When he heard that his friends are struggling to meet their obligations due to cutbacks and businesses being closed, he decided to write a computer script he calls an “Event Tracker”.
This script, designed to spot opportunities in the financial markets based on market movements, dings whenever a new opportunity appears. In other words, he created a way to harness ‘algorithmic analyses’ to his benefit.
Mr. Hemphill said that with $300 or so he collected from each of his friends, he was able to leverage the power of their collective fund into a monthly gain of more than $1,000 by trading Crypto, Stocks and various “hot” opportunities.
The next step was scaling it up towards something more substantial. The group decided each of them will open an individual account for $2,500 so they can have full autonomy on moving funds in and out of their accounts.
Mr. Hemphill, being very convinced in the profit potential in this, invested additional $50,000 into his personal investment account. Reportedly, he was able to more than double his balance and gain $86,000+ in profits. “I knew it can be done, but it still overwhelming to witness it firsthand” he said.
“…(and) to me it was more than making money, it was about sharing this innovative concept with friends and being able to provide them with a tool that can help them reach financial independence”. He then added “large amount of people are very keen, very eager, to get started with this.”
Recent polling shows that nearly 89 percent of Australians are either planning or already actively investing in Crypto, compared to 64 percent before the pandemic. Data shows that more than 200,000 people in Sydney had used the site since he launched it this month, and that $50 million dollars were already invested through it.
There is still some hesitancy about online trading. Reports show that more than 60 percent of Australians were involved or approached by scam offers or fraudulent companies, offering preposterous returns and zero risk schemes. More recently, many Australians were contacted by scammers impersonating federal agents from the AFP and the ATO, asking them to deposit funds using false claims and fake phone numbers.
Finding the right investment could be proven more difficult than investing successfully. Luckily, some company emerged in the attempt to solve this issue. These companies are dedicated to pair you up with suitable, trustworthy brokers and collect a referral fee in the process. A genuine win-win situation in what has become a cynical industry.
One of these companies, called PMA or Profit Masters Academy, launched their ‘Broker-Match’ service, helping investors find an investment firm that matches their needs. Launched in 2020, this service promises to pair you up with online trading firms that have been evaluated by professionals, are considered safe and focuses on investors’ guidance and education.
“The penny is finally dropping,” said Mr. Williams, Profit Masters Academy’s CEO. “People are becoming more financially aware following Covid. There is the understanding of a more global approach towards money and with it the soaring demand for online trading. We’ve (PMA) been providing financial education to individuals worldwide for many years and noticed that it doesn’t fully solve the issue since many people still end up trading with the wrong companies…with our Broker-Match service people can now get a call from our guidance managers and start trading with a reputable company in a matter of minutes.”
“Our phones are running hot; we can barely meet demand” he added. “I think it is too much, watching your superannuation and savings lose value, while Bitcoin is reaching new heights with predictions for as much as $100,000. People want to be on the winning side, they want to make money, not to see their hard-earned cash depreciate. People want to decide how their financial future will look like.”
