Invest your SMSF in Bitcoin & Ethereum
Bitcoin and Ethereum
Bitcoin and Ethereum are leading cryptocurrency assets available to everyday investors.
Bitcoin and Ethereum are the strongest cryptocurrency assets available to everyday investors. Both have seen growing mainstream adoption and widespread appeal.
As the leading digital asset in the cryptocurrency world, Bitcoin operates on a distributed ledger technology (DLT) known as a blockchain. In simple terms, DLT describes a ledger or database of information that’s spread across many computers in a network. No single entity has complete control over the database and all transactions must be verified by every computer on the network.
When people refer to the blockchain, this is a technology introducing cryptography to the mix and collating data into blocks. Each encrypted block is stored on the chain in chronological order, after which no more changes can be made.
This permanence, combined with a decentralised network, makes blockchain a highly secure technology that becomes more secure the larger it grows. With an estimated 100 million users worldwide, Bitcoin is by far the largest and most secure cryptocurrency network today.
What is Ethereum?
Bitcoin’s closest rival in stature is Ethereum, a cryptocurrency network developed and launched in 2015. Like Bitcoin, it runs on blockchain technology but has several advanced features offering added functionality beyond simply peer-to-peer digital cash. Comparing Bitcoin to Ethereum would be like comparing a calculator to a smartphone.
The main differentiator of Ethereum from Bitcoin is its ability to support smart contracts, allowing developers to build decentralized applications on the network. These additions have led many to call Ethereum “programmable money” and have ushered in a new age of technology in finance.
The investment potential of Bitcoin
Since its arrival, Bitcoin has proven its strength and resilience as an excellent store of value and one of the strongest forms of digital money available. It’s grown in value from less than a single cent to over $50,000 USD per coin (calculate the percentage growth), overcoming many technological, political, and regulatory issues during this time.
Many global corporations are now adding Bitcoin to their balance sheet. From PayPal and Mastercard to Tesla and Square, companies across industry are getting involved. Bitcoin has finally achieved institutional acceptance and secured its position in the financial landscape.
This has also presented new opportunities for investment, including making investments in Bitcoin using your Self-Managed Super Fund (SMSF) which the Bamboo platform can accommodate for.
Start investing in Bitcoin & Ethereum with Bamboo
Sign up to effortless investing and make your Self-Managed Super Fund go further. Get set up in minutes and start investing in Bitcoin and Ethereum with confidence. Your future self thanks you! If you need assistance, reach out to our support team today.