Diversify your SMSF with crypto

Yes. You can roll over your super balance from a pre-existing superfund into your cryptocurrency Self-Managed Super Fund (SMSF). However, your SMSF must be set up and compliant before doing so.

In Australia, a Self-Managed Super Fund must adhere to super and tax laws, the most critical being the Superannuation Industry (Supervision) Act. The Australian Tax Office (ATO) is the regulator for SMSFs and the SMSF trustees are responsible for ensuring that their Crypto SMSF is compliant. For more information and to find out if your Crypto SMSF is compliant, visit the Australian Government’s official Superfund website.

At Swyftx, protecting our customer’s assets is our top priority. We have implemented a robust security framework to ensure that our customers can trade and store their cryptocurrency in a safe environment. We use the highest standard of industry storage protocols. Learn more about Swyftx’s security protocols and procedures. Additionally, once users have successfully purchased an asset, they can easily withdraw that asset to an external wallet.

No, under no circumstance can you deposit SMSF funds into your personal Swyftx account. There are legal implications and tax consequences that can arise from intertwining SMSF assets with personal assets.

You can find relevant information on what you’re required to submit for an SMSF crypto account with Swyftx in our Support article Set up a self-managed super fund (SMSF) account. Alternatively, you can book a consult with one of our account specialists via the form below to get you started.

After you fill out a form with a cryptocurrency SMSF service provider, the SMSF trustees will have to wait for approval from the ATO.

Once the ATO approves the SMSF, there are additional steps that trustees will have to take such as opening an account on a secure portal, opening a bank account for the SMSF, rolling over your super balance into your new SMSF, setting up a new crypto trading account for the SMSF and setting up data feeds.

The trust deed is also a crucial part of the SMSF process. The trust deed is a document that contains the rules through which an SMSF is governed. The fund’s trust deed also includes obligations, terms, and conditions of the trust.

The cost of setting up a crypto Self-Managed Super Fund can vary significantly depending on your personal circumstances and goals. Generally, when using one of Swyftx’s providers, setup costs range from $999 to $2,200* AUD. Book a free consult with our SMSF team to find out more.

Additionally, it’s important to consider the ongoing costs associated with maintaining an SMSF, which can include various out-of-pocket expenses.

*For SMSF set up including corporate trustee. Bare trust set ups are excluded.

Yes, crypto held within an SMSF structure can be stored in a hardware wallet like the Ledger Nano. This is often the preferred option for longer-term holdings. However, it’s worth noting the wallet must exclusively be used for your SMSF – you cannot store any of your personal portfolio on the device. The storage arrangement must be disclosed, too.