I'd like to move some of my Australian superannuation into a fund which allows investing in cryptocurrencies such as bitcoin.
Do any such funds exist?
If no, how would I minimise the auditing fees if I held cryptocurrencies in my SMSF?
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closed as off-topic by Chris W. Rea, Ganesh Sittampalam♦ Oct 25 '17 at 13:12
This question appears to be off-topic. The users who voted to close gave this specific reason:
- "Questions seeking product or service recommendations are off-topic because they tend to become obsolete quickly. Instead, describe your situation and the specific problem you're trying to solve." – Chris W. Rea, Ganesh Sittampalam
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Tom - I am interested in doing exactly what you refer to. How did you get on? Were you successful in setting up a compliant SMSF? – BJ197 May 5 '17 at 22:33
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The closest I got was this listing. Let me know if you verify that dixon.com.au is indeed only a 1% commission! – Tom Hale May 7 '17 at 4:20
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You have to compare the costs of various SMSF providers, which should be able to bundle the compliance audit in their costs.
There could still be ambiguity around the cryptocurrency or blockchain asset within an SMSF under Australian regulation (or the lack thereof), and retirement plan consultants will likely be too risk adverse to have a real conversation with you about it (I encounter the same thing in the United States), so I typically replace bitcoin related words with physical metals to avoid derailing the conversation.
