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HOW TO CREATE A
Self-Managed Bitcoin Fund
GET STARTED
GET STARTED
You can choose to move from a retail/managed super fund to a Self-Managed Super Fund, but ensure you take the time to review some key information on the ATO's website regarding the purchasing of "crypto assets" within a SMSF.
Crypto-friendly banks?
Crypto-friendly banks?
See the latest update on our non-exhaustive list of what banks are permitting capital flows to specific Exchange BSB's, noting exchanges typically have additional payment methods.
Establish an SMSF
Establish an SMSF
There are a number of SMSF Administration Services available including:
However, you may choose to establish a SMSF with a specialist, such as:
If you wish to request a rollover of the whole balance of your super benefits to your SMSF, you can use the forms from the Australian Tax Office's website - NAT75359
Once established, you'll be able to open an account with a AUSTRAC-registered bitcoin exchange in the name of your SMSF. You won't be able to use a personal account.
Establish aN Exchange Account
Establish aN Exchange Account
You'll be able to create a SMSF Exchange account through a Bitcoin-only exchange, such as:
AUD to AN SMSF Exchange ACCOUNT
AUD to AN SMSF Exchange ACCOUNT
Funds being transferred into a SMSF Exchange Account must come from a bank account owned by, and in the name of the SMSF.
A recommended method is to contact the bank directly via phone, and to perform this transfer using a RTGS (Real-Time Gross Settlement), sometimes known as a Telegraphic Transfer.
The trustee will be asked for the receiving bank account's details - which they'll be able to get from the SMSF's Exchange Account. They will typically require:
The receiving BSB & Account Number
The banking institution associated with the BSB (You can search that here).
SECURE YOUR SMSF BITCOIN
SECURE YOUR SMSF BITCOIN
Bitcoin is a bearer asset, and exchanges should not be treated as a bank!
The Bitcoin Adviser provides its clients with collaborative security, ensuring they have absolute transparency of their bitcoin, without the being exposed to the risks inherent with typical single-signature wallets.
Should you wish to discuss our multi-signature vault service, you are invited to reach out and get started.
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