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Melbourne, Australia 06 September, 2018 – Cointree one of Australia’s leading cryptocurrency exchanges has partnered up with My SMSF, a specialist provider for property and niche assets. The partnership aims to deliver clarity for people wanting to invest their super in cryptocurrencies.
Cointree is one of Australia’s fastest growing digital currency exchanges with now over 60,000 members. Through their community, affiliates and partners, Cointree continues to see a growing interest in investment opportunities in cryptocurrency using a members Self Managed Super Fund (SMSF).
What is a self-managed super fund (SMSF)?
An SMSF is a private superannuation fund, regulated by the Australian Taxation Office (ATO) that you manage yourself. SMSFs can have up to four members. All members must be trustees (or directors, if there is a corporate trustee) and are responsible for decisions made about the fund and compliance with relevant laws. Set up costs and annual running expenses can be high, so it’s most cost-effective if you have a large balance.
“Since our announcement of entering the SMSF space, we have gained a lot of interest from our members and the general public wanting to invest into cryptocurrency using their super,”
says Shane Stevenson, CEO of Cointree.
“The feedback that we’re getting is that there is currently a lack of education in the SMSF industry around cryptocurrency investments. The whole process is a lot simpler than people realise, hence it is important for us to work with the right people to provide better education around cryptocurrency and SMSFs, to build confidence in the market”.
My SMSF is a specialist SMSF administration provider for niche assets. Property, Metals and Diamonds are areas of practice they have a passion for and specialise in. My SMSF has recently added cryptocurrency into their asset offering and are certified bitcoin professionals.
“This is also a great opportunity for My SMSF to able to work directly with a trusted Australian cryptocurrency exchange at this level,”
says Robert Joseph, Director of My SMSF.
“This partnership allows us to share our experience with Cointree, and work with them to build processes, features, and systems to create the most seamless experience possible for our members.”
My SMSF has a dedicated team that focuses on SMSF crypto, the team has a deep knowledge and understanding of crypto, super laws (SIS Act) best practices for SMSF crypto investors and traders. My SMSF also provides the most detailed and comprehensive content around SMSF and crypto, delivered through their website, eBooks and consultancy.
“It was great to know that we are both big advocates for digital currency and investment education, as we also provide an extensive learning hub, which is available on our website for our members,” says Mr Stevenson. “We will now be able to extend our education content into the SMSF space, to further build awareness around the opportunities of investing into crypto using your super”.
Cointree is planning to build tax and SMSF features in its exchange platform to assist members with their compliance obligations, tax returns and audits.
Cointree is making waves in whole Australia’s financial ecosystem
Recently we write about extraordinary partnership between Gobbill & Cointree which lets australians pay their bills with cryptocurrency. This partnership made a huge and positive impact to a global cryptocurrency adoption idea and got thousands of supporters worldwide and media’s attention.
Cointree is one of Australia’s leading digital currency exchanges. It aims to support the widest range of cryptocurrency coins. Founded in 2013, the Melbourne based company has over 60,000 members and transacted over AU$100m worth in digital currencies. The company focuses on making cryptocurrency trading a simple, quick and secure experience. It achieves this by providing learning resources and useful trading tools in everyday language and jargon-free to its members.
Cointree is a registered digital currency exchange with AUSTRAC (the Australian Government regulatory and monitoring body for AML/CTF).
About My SMSF
My SMSF is a specialist SMSF administration provider for niche assets. Crypto, Property, Metals and Diamonds are areas of practice they have a passion for and specialise in. My SMSF have their own AFS license with over ten years experience in the industry.
My SMSF provide services to clients all over Australia by using technology to create efficiency and by using their proprietary software and by communicating via, email, phone and Skype to maintain relationships with our clients.
My SMSF are certified bitcoin professionals, they also have a deep knowledge and understanding of cryptocurrency, super laws (SIS Act) best practices for SMSF crypto investors and traders. Cloud-based accounting and reporting is built into their system. We are a fixed fee provider. We are efficient and quick, we provide phone support at our price point.