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Bitcoin, Ethereum 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

  • It’s uncorrelated to other markets and assets.
  • It’s an emerging new sector, with 12 years of market history
  • It is a hedge against market uncertainty and a store of value asset. ‘Digital Gold’

Bitcoin Historical Performance

“Bitcoin is a form of ‘Digital’ money. It is, cheap, fast to buy or transfer, private, secure and it is borderless, making it a worldwide currency.”

bitcoin history

TIM DRAPER

“Bitcoin is the most important invention in the history of the world since the Internet.”

ROGER VER

“We will never hear about people’s Bitcoin accounts being frozen  or seized by a government agency”

AL GORE, 45th Vice President of the United States

“I think the fact that within the bitcoin universe an algorithm replaces the function of the government …[that] is actually pretty cool.”

How to Invest in Bitcoin and Crypto Currencies in an SMSF

Buying bitcoin in a Self Managed  Super Fund (SMSF)

SMSF Crypto investing, things to Check before Investing

  • Does your SMSF deed place restrictions on investing in crypto investments?
  • Does your investment strategy identify your crypto and bitcoin investments?
  • Are your Bitcoin and Crypto assets purchased in the name of your SMSF?
  • Are your Crypto, bitcoin assets stored in a secure wallet and held separate to your personal crypto assets ?
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What Are The Best

SMSF Bitcoin Exchanges

Screenshot 2021 10 22 at 12 35 15 SMSF Crypto investing Cryptocurrency Investments in a SMSF My SMSF
Screenshot 2021 10 22 at 12 34 37 SMSF Crypto investing Cryptocurrency Investments in a SMSF My SMSF
Cointree logo
Screenshot 2021 10 22 at 12 35 35 SMSF Crypto investing Cryptocurrency Investments in a SMSF My SMSF

These four exchanges recognise an SMSF account and are popular with crypto users

  • Swyftx – offers 260 coins – 0.60% fee
  • Cointree – offers 200 coins at 0.70% average fee
  • Easycrypto – offers 210 coins for a 0.90% fee
  • Independent Reserve – offers 27 coins for a 0.50% fee

*fees listed are only brokerage fees

Whilst there is a greater choice of crypto exchanges available to individuals, the options for an SMSF are more limited. Trading Fees: range from 0.4% – 1% not including currency and account fees.

Easycrypto
Cointree
Swyftx
Independent Reserve
Coins
Offers 210 coins Offers 200 coins Offers 260 coins  Offers 27 coins
Fees
0.50% – 0.90% 0.70% 0.60% 0.50%
Verification
5 Hrs 1-2 Days 1 Day 1-3 Days
Demo
Yes Yes Yes Yes
Live Chat
Yes Yes Yes Yes
Mobile App
Yes No Yes No

Suitable SMSF Crypto Wallets

There are two types of smsf crypto or bitcoin smsf wallets

  • Software wallets like – Copay & Exodus ( X)
  • Hardware wallets like the Ledger & Trezor

For SMSF crypto, some exchange wallets and hardware wallet will be compliant with super laws as these wallets can be proven to be owned and controlled by the fund.All assets must be held in the SMSF’s name, whereas, software wallets don’t recognise companies and trusts as owners.

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are you a SMSF Crypto Investor, Trader or other

  • Are you investing – Hodling ? buying and holding
  • Are you trading – frequently trading into different coins
  • Are you mining in your SMSF ?
  • You should check the tax implications for all of these types of crypto activities in an SMSF
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SMSF Documents for Tax

  • Provide a valuation statement of all holdings – most exchanges provide this
  • Provide buy/sell receipts or contract notes – provided by the exchange
  • Provider receipts for your storage vault and wallet purchase.
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How are Bitcoins and Crypto Currency taxed

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 tax exemptions available for pension members under the current super laws.

ATO Biticoin Tax Page

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Why use My SMSF for your Crypto or Bitcoin SMSF Administration ?

Our auditors are conversant with Bitcoin investing in a SMSF

We offer one of the cheapest SMSF Bitcoin Administration services in the country

We can assist with SMSF crypto exchange accounts, secure compliant storage solutions

Expertise and Experience : Certified Bitcoin Professional, Blockchain consultant and developer experience, 1st SMSF Crypto service in Australia

More Details

Warning: Seek Financial, Legal and Tax advice before investing in crypto currencies

Our Fees

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SMSF Setup $880

with a company trustee SMSF Annual

premium2

Administration $1,100

(Accounting +Auditing ) SMSF and Bitcoin Education

Please Note: Our Service is SMSF Crypto Administration service, we do not provide advice on crypto investments or specific tax advice.

Smsf Crypto Exchanges

swyftx

Swyftx

Swyftx is an Australian owned and operated crypto exchange that allows users to buy Bitcoin, Ethereum and 270+ other crypto assets. Backed by global liquidity providers, with great trading and investing tools  for SMSF Clients

Cointree logo

Cointree

Cointree has a large range of crypto currencies; referred to as Altcoins; in the Australian market. With leading edge technology a great understanding of crypto SMSF with a background in accounting. They are leaders in this space.

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Easy Crypto

We’re a leading Registered Cryptocurrency Exchange across Australia and New Zealand. Using our SMSF experience, we can offer you the two pillars you require when executing high-value cryptocurrency trades: safety and simplicity. Contact us today to get started.

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Ainslie Wealth

Ainslie Wealth provide face to face purchase and storage solutions for the ‘big 5’ crypto’s together with 5 more of the most popular. Face to face (or OTC) solutions provide comfort for a lot of older SMSF members who prefer this type of service when buying crypto or precious metals.

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Market Capitalizations

Contact us

Talk to us about your SMSF Crypto Needs