Bitcoin, Ethereum, Dash and Ripple are some of the most famous Digital or crypto currencies in the world. This emerging asset class is generating a lot of interest due to the following beneficial characteristics
- Its uncorrelated to other markets and assets
- It is the hottest investment at the moment, with nearly 9 years of market history
- It is a hedge against market uncertainty and a store of value and exchange
How do i invest in Bitcoins and Crypto currencies using my SMSF ?
When Investing in these Crypto or Virtual Currencies via your SMSF, you will need to make sure you check the following
- Bitcoin and Crypto assets must be purchased in the name of your SMSF
- Check your SMSF deed to make sure that there are no restrictions on investing in crypto investments
- Make sure you store your bitcoins in a secure, independent, insured, location
- Make sure your funds auditor is comfortable with auditing your bitcoin and crypto currency assets
It is also important to be aware of the risks and benefits of crypto currency investing.
The money smart site has a great section dedicated to crypto currency
Tax Treatment of Bitcoins and Cryptocurrency
- If you sell your bitcoins or Altcoins and convert to Australian dollars, you may be subject to capital gains tax
- If an SMSF member is in pension phase and they sell their crypto assets, they would not attract capital gains tax, based on the exemptions prevailing for pension members under the current super laws.
For More Details
Why Choose My SMSF for your Bitcoin investments in a SMSF?
- Certified Bitcoin Professional.
- We have data feeds showing the pricing movements and values of Bitcoin, Ethereum and Ripple.
- Our auditors are conversant with Bitcoin investing in a SMSF
- We offer one of the cheapest SMSF Bitcoin Administration services in the country.
- We offer cheap Bitcoin trading options and cheap, secure and compliant storage solutions.
- SMSF Setup $799 with a company trustee
- SMSF Annual Administration $1,100 ( Accounting +Auditing )
- SMSF and Bitcoin Education
Please Note: Our Service is an ‘Execution Only Service’ we do not provide advice on crypto investments
Ainslie Bullion Bitcoin & Gold Services – https://www.ainsliebullion.com.au/SMSF.aspx
Our friends at Ainslie Bullion, provide bitcoin, Ethereum and Gold purchase and storage solution.Buy bitcoins, by placing an online order or by going into the showroom to transact and have it stored in a third party vault Or via Ainslie Bullion’s paper or hardware wallet services.
Warning: Always seek advice, both financial and tax related advice, before investing in cryptocurrency. Cryptocurrency is very volatile and it is a high risk asset class.
Gold is a great store of value asset Used for jewellery and for computer components. It is versatile,valuable and relatively scarce
Bitcoin is a virtual currency mined into existence, with just 21, 000,000 coins to be created. Bitcoin is fungible, it is scarse, it is easy to store and it is a store of value asset like gold
The first use of gold was in 700 B.C.
by the Lydians who made coins
Bitcoin’s genesis block was issued to
Satoshi Nakamotoon the
3rd of January 2009
Block#0 50 BTC
These are some of the ways Gold
is mined into existence
Bitcoinsare mined digitally by a collection of computers one bitcoin block takes 10 minutes to mine and it is 1 megabyte in size. The miners reward is 12.5 bitcoin’s and this halves every 4 years with the difficult rising to identify and mine blocks till all coins are mined by 2140
Estimated metric tons
of gold in the world
1 GOLD BAR =$1,245USD
Total number of
bitcoin that can
ever be mined
There are $16,733,050
bitcoins in existence
as of the 12th
of December 2017
1 BTC = $19,341* USD
10 YEAR GOLD
“Bitcoin’s 21 million ‘coin’ hard limit and wealth storage properties make it gold for the 21st century”
P Engemann Ainslie Bullion
BITCOIN FUTURE PREDICTIONS
devices by 2020
Global internet users
by 2020 (Baller et al)
Global GDP expected to be stored on blockchain tech by 2025 (Schwab)
“Bitcoin has the potential to be comparable to the value of gold…It is a fantastic hedge and store of value against autocratic regimes and banking infrastructure that is corrosive to how the world needs to work properly”