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
- Its uncorrelated to other markets and assets
- It’s an emerging new sector, with 11 years of market history
- It is a hedge against market uncertainty and a store of value asset. ‘Digital Gold’
Bitcoin Historical Performance
“The bitcoin world is this new ecosystem where it doesn’t cost that much to start a new bitcoin company, it doesn’t cost much to start owning bitcoin either, and it is a much more efficient way of moving money around the world.”
“Bitcoin is the most important invention in the history of the world since the Internet.”
“I think the fact that within the bitcoin universe an algorithm replaces the functions of [the government] … is actually pretty cool. I am a big fan of Bitcoin”
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 Do I Invest In Bitcoin & Crypto Currencies Witha Super Fund ( SMSF)
When Investing In Crypto In a SMSF Or Bitcoin In An SMSF, You Will Need To Check The Following
- 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 ?
What Are The Best SMSF Bitcoin Exchanges
These are Four exchanges that recognise an SMSF account and are easy to deal with
- Zebpay.com.au – offers 10 coins – 0.40% fee
- Cointree – offers 100 coins at 0.90% average fee
- Easycrypto – offers 45 coins for a 1% fee
- Independent Reserve – offers 15 coins for a 0.5% 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.
|10 coins||Offers 100 coins||Offers 115 coins||Offers 15 coins|
|0.40% fee||0.90% + 5% fee||1% fee||0.5% + 4.3% fee|
|Yes instant $2k||Yes||Yes instant 5K||Instant $10k|
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.
What Types Of Crypto Activities Are You Undertaking in your Smsf
- 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
End Of Year Compliance Requirements
- 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.
Tax Treatment Of Bitcoins and Crypto Currency
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.
Why Choose My Smsf For Your SMSF Crypto or Bitcoin SMSF ?
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
Warning: Seek Financial, Legal and Tax advice before investing in crypto currencies
SMSF Setup $880
with a company trustee SMSF Annual
(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
Is the most secure, cheapest and transparent SMSF Crypto exchange in Australia, with the fastest account opening process we have seen to date. Couple this with live support for SMSF Clients and you have one of the best providers in the market.
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.
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.
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.