Crypto in your SMSF

Posted | 11/12/2017 / Views | 5759
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The weekend Australian Financial Review ran an article about the strong demand for bitcoin in Self Managed Super Funds mentioning us as one of the few providers who can do this in a way accountants and auditors are happy with. You can read the article by clicking here.

Of course whilst the world's focus is on Bitcoin you can do the same with us in Ethereum, Litecoin, and Ripple.

Perceptions of crypto currencies being some 'dark', opaque, untraceable investment unsuitable for the audit and compliance heavy SMSF space couldn't be further from the truth if done the way we do it. To be clear, that is equally the case for you taking one of our offline Ainslie Crypto Wallets or taking up our equally offline Crypto Storage Accounts where we look after all that for you and provide a certificate of holding to keep those auditors happy.  Our storage accounts allocate a bespoke wallet to you and you alone, already locked up safe and sound in Reserve Vault. 

When you buy from Ainslie you get an invoice that states the purchasing entity, how much you bought, what you paid and what wallet address it went to. Come 30 June the auditor has an address to search, obtain both a balance and a record of every transaction associated with that address since its inception.  They then apply that amount of crypto to our 30 June historic price sheets and voila, audit done.

As regular readers know we are all about diversification to protect your wealth and to ensure that no matter what the market conditions when you retire you have parts of your SMSF going well whilst others might be in the doldrums. Because we do four very different and large cap cryptos, you can do the same within the crypto space and not put all your crypto eggs in the Bitcoin basket.

If your SMSF manager wants your assets independently stored (or just you being prudent) you simply put your crypto wallet in Reserve Vault as we discussed recently here.

 

Like bullion we make the whole process easy and direct. Both bullion and crypto are rare in that they have no counterparts risk... So why introduce it by investing through a managed fund, ETF or future contract??  Take control of your future. 

As we often write, there is no more important investment vehicle to have a truly diversified portfolio than your super. You don't get to choose the market conditions when you retire. Diversify with uncorrelated assets and relax.