Pensions and crypto currencies

Jt1979

Hi,

Does anyone know if there are any company's which you can invest in crypto's, not Bitcoin or ethereum but smaller newer crypto's maybe ICO's.
I currently have a small pension pot that I'm not paying into of around £28000, I would lime to try and get this into crypto's if possible?
Has anyone else done this?

Thanks in advance.

Marc

bompey

Cryptos aren’t a suitable pension product so I doubt anything is available. You’re better off at the bookies.

Edited to add a spread betting account may allow you to trade them but I wouldn’t put my pension in them.

k6chris

Jt1979 wrote: »

I currently have a small pension pot that I'm not paying into of around £28000, I would lime to try and get this into crypto's if possible?

Pension questions:
If you lost all of that £28,000 how would you feel? How would it affect your retirement plans? Does it represent more than 5% of your retirement savings?

Crypto questions;
With over 4,000 Crypto currencies to choose from, what is you criteria for selecting them? Liquidity? technical advantage in block chain implementation? Stength of cryptography? Coin limits? Mining requirement?

Investment questions;
What makes you think the value of your investment will be higher than it is now when you retire, given that current valuations have been driven, at least in part, by publicity and FOMO? Will any rise in value be higher than the the compounded dividend gain available via more traditional investements?
Why crypto currencies rather than equities? bonds? gold? property? P2P? Cash?

Bravepants

No explanations necessary...crypto into pensions is a "no, no!"...end of!

Deneb

Would you like to transfer your "small" pension pot to me instead? That way, at least one of us will have something left over.

System

You are not the first to have this idea:
https://forums.moneysavingexpert.com/discussion/5748603

jennyjj

Bravepants wrote: »

No explanations necessary...crypto into pensions is a "no, no!"...end of!

Not quite true.
You can, and I have, put some SIPP pension funds into a bitcoin derivative that aspires to track the bitcoin price and so far does a pretty good job.
http://forums.moneysavingexpert.com/showpost.php?p=73456426&postcount=19

Alexland

jennyjj wrote: »

You can, and I have, put some SIPP pension funds into a bitcoin derivative that aspires to track the bitcoin price and so far does a pretty good job.
http://forums.moneysavingexpert.com/showpost.php?p=73456426&postcount=19

I hope it was a very small part of your pension! What is your exit plan? Surely this cannot be a buy and hold investment when the underlying value is zero??

jennyjj

Alexland wrote: »

I hope it was a very small part of your pension! What is your exit plan? Surely this cannot be a buy and hold investment when the underlying value is zero??

Since you ask Alex, and clearly you care only for my wellbeing...
It was an investment of about £2500 in November. I crystalised some profit when I sold 1/3 of my units for about £1650 in December, leaving me with a holding of just over £3000.

I know it will crash, and for now this is just a fun punt to generate talking points.

Not, by any stretch a long term investment, and certainly not a significant sum in my portfolio. So fear not for my wellbeing.

Alexland

In consideration of your wellbeing are you not tempted to sell a further £850 such that you have secured your original capital? I guess then if it keeps going up you could sell 50pc back into the real world every 3 months?

jennyjj

Alexland wrote: »

In consideration of your wellbeing are you not tempted to sell a further £850 such that you have secured your original capital? I guess then if it keeps going up you could sell 50pc back into the real world every 3 months?

Considered and consciously decided against.
My logic:-
If I absolutely secure my original capital, then I'm not leaving enough invested to grow (or shrink ) significantly.
Think of it as planting some fast growing fruit seeds (in a minefield) If I harvest my crop every day, then I might soon get my investment back, but so what: I'm limiting my upside, my investment will never get the chance to double, quadruple, octuple . . .
Of course, I HOPE to harvest my massive crop before it all blows up in my face.
And truth be told, it's not about the money. A thousand won or lost will not change my life. But it's something to brag about or laugh about in the pub on a cold friday lunchtime. Sad.