Bamboo launches self-managed super fund investment in digital currencies
Bamboo, the digital currency micro investing platform, is launching self-managed superannuation opportunity for compliant and simple investment in digital currencies including Bitcoin, Ethereum, Gold and Silver.
Bamboo has developed a customer-centric product to purchase digital currency for individual self-managed superannuation funds. Instead of taking days or weeks to understand security, compliance and onramps, Bamboo has packaged up a product to make investment effortless.
With built in compliance, reporting and storage, Bamboo allows anyone with a mobile phone and bank account to participate in just a few minutes.
“Until now, purchasing digital currency has been overwhelming, time consuming and complicated,” said CEO Blake Cassidy. “Bamboo responds to these issues and provides a quick, easy and safe way for people to gain exposure to Bitcoin, Ethereum, Gold and Silver. It is so simple, anybody can do it,” he continued.
Australians are at the forefront of adoption with over 20% of the population owning digital currency. More and more people are looking to invest for the long-term and it’s expected these currencies will be as widely owned as stocks and commodities such as gold over the coming decade.
The Australian Taxation Office (ATO) reported a total of AU$168M funds allocated to investment in digital currencies in their December statistics release. This data means that the average fund allocation per person is around AU$7,500.
Google Pay and Samsung Pay will soon let customers pay with Bitcoin and other digital currencies. BitPay, a digital ledger payment processor, revealed it is planning to bring Google Pay and Samsung Pay support early in 2021. Visa has recently announced late in March 2021 it will allow the use of cryptocurrency to settle transactions.
“Digital currencies are becoming widely accepted across the globe and being able to invest in these currencies to increase performance in your self-managed superannuation diversifies your portfolio even further. We see this as an important part of the early stages of Bamboo’s growth.”