Bitcoins have barely been out of the news in recent months. Its status as legal tender has been queried in a number of countries and confirmed in others resulting in a rollercoaster ride for holders of the currency. So what's it all about?
The Fabulous Infographic Below Is A Superb Summary Of The Bitcoin Story So Far
Bitcoins And SIPPs
Although it's unlikely your SIPP operator will allow you to hold Bitcoins in your SIPP at the present time, it might not always be the case. With a market capitalisation worth billions of dollars, there's clearly an active market, evidenced by a number of websites quoting the current value of Bitcoins.
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AJ Bell Is Often The Best Value SIPP For Stockmarket Assets
Over time, charges can wipe out a huge part of your fund. We like AJ Bell because there are no set-up costs. If you hold passive funds, which is our preference, or shares, investment trusts, EFTs, gilts or bonds, you pay one small fixed fee no matter how large your fund. And when you come to draw your benefits either as occasional drawdown or UFPLS payments, there's a small charge for the whole year no matter how many times you access your money (many SIPP and SSAS providers charge more than this for each payment). However, you should always compare charges in detail, because AJ Bell could be more expensive than other providers, depending on the type of stockmarket assets you hold.
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As SIPPclub neither advises on, nor arranges, nor recommends specific investments or strategies, we're unable to say whether a SIPP or SSAS or any investment within it is right for you. Ultimately, it’s your money and your decision, and you should only proceed once you're satisfied you've undertaken sufficient due diligence. If you need advice, you should speak to your trusted adviser, or you could find a local adviser from Unbiased.co.uk. Alternatively, we'd be pleased to introduce to a suitably qualified independent financial adviser.
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