Cryptocurrency, such as bitcoin, is an allowable SMSF asset by iCare Super.
When you trade any crypto assets, please follow the steps as below:
- Check if your trust deed and investment strategy allow trustee to invest in crypto-currency, such as bitcoin. Please note any SMSFs set up by iCare Super will allow trustees to invest in crypto-currency
- Crypto-currency and bitcoin must be purchased in the name of your SMSF (or SMSF trustee)
- Purchase the crypto and keep all in your wallet
- When you sell crypto assets, you need to transfer the proceeds to the SMSF bank account
- If possible, check your auditor is comfortable with auditing bitcoin or crypto-currency. The auditor at iCare Super can audit these crypto assets.
- Some shares can by bought using bitcoins, these shares must be bought in the name of your SMSF (or trustee)