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Cryptocurrency is a great market to get into if you are experienced with the trading and selling of monetary assets. It is a growing market and one that can make some great profits if you know what you are doing.
As the world moves closer to digitalizing all forms of currency, cryptocurrency trading will become a valuable skill to have, which is why now is the best time to get started.
It is possible to make long-term profits through cryptocurrency trading, as long as you have the right tools on your side, such as a self-managed super fund.
What Is A Self-Managed Super Fund?
An SMSF is a great investment strategy for those who are into cryptocurrency trading. Bitcoin and other digital assets can be invested into this kind of investment fund, allowing for long-term value to be saved, and it can also go towards creating a retirement portfolio.
With an SMSF, users have control over the kind of assets that are saved and stored in the account. Unlike traditional bank accounts or industry super funds, an SMSF provides more autonomy to users when it comes to both asset choice and insurance.
This is why using an SMSF cryptocurrency exchange platform is the best move to make if you are looking for long-term profits from your investments.
The Perks Of An SMSF
Investing in an SMSF allows you to store the value of cryptocurrency and other digital assets long-term, but this is not the only perk that comes with this account.
Opening an SMSF with an exchange platform like Swyfxt gives you access to the most generous tax structure, which is ideal when retaining as much value as possible from your assets.
There is a unique and generous tax structure for these kinds of funds in Australia, which is where Swyfxt operates from. With an SMSF of this kind, there are low tax limits on your profits, starting at 15% for standard gains, 10% for long-term gains, and 0% for retirement income.
With these low tax rates, it is clear to see how an SMSF for cryptocurrency can be the start of a retirement profile. Investing in an SMSF using cryptocurrency is considered to be an excellent strategy for hedging against traditional markets, and these accounts will store the long-term value of your digital assets.
Start Investing Today
You can open a self-managed super fund for cryptocurrency at Swyftx, which is a leading exchange platform that supports over 270 digital assets such as Bitcoin.
This platform works in partnership with New Brighton Capital, which is a cryptocurrency SMSF provider. An application needs to be completed to a provider like this to determine whether you are eligible for this kind of fund, then approval is needed from the ATO.
Swyftx can guide you through this process and make it easy with their partnership with SMSF providers.
SMSFs are a great way to store the value of digital assets and can develop a long-term cryptocurrency investment portfolio.