Transfer of a Pension to Invest in Crypto

[sanatogen]

Hi there,

I'd like to transfer one of my standard life UK pensions so that I have exposure to crypto.

From looking online, first option would be to transfer to a SIPP Provider? Then after that I'm not sure how I would proceed, apart from finding a way to use the SIPP to buy e.g. Microstrategy and ARGO. (As ETF and ETNs cannot be used for this in UK)

Any pointers very welcome!

[AdeTuono]

sanatogen said:

Hi there,

I'd like to transfer one of my standard life UK pensions so that I have exposure to crypto.

From looking online, first option would be to transfer to a SIPP Provider? Then after that I'm not sure how I would proceed, apart from finding a way to use the SIPP to buy e.g. Microstrategy and ARGO. (As ETF and ETNs cannot be used for this in UK)

Any pointers very welcome!

Depending on the size of your fund, I think you'll need to get independent advice before you can transfer.

As I understand it, if they don't recommend the transfer, then you won't be able to.

[Zumbruk]

Don't. Just don't. Crypto is a monstrous scam.

https://davidgerard.co.uk/blockchain/2022/11/17/de...

https://web3isgoinggreat.com/

[GT03ROB]

AdeTuono said:

sanatogen said:

Hi there,

I'd like to transfer one of my standard life UK pensions so that I have exposure to crypto.

From looking online, first option would be to transfer to a SIPP Provider? Then after that I'm not sure how I would proceed, apart from finding a way to use the SIPP to buy e.g. Microstrategy and ARGO. (As ETF and ETNs cannot be used for this in UK)

Any pointers very welcome!

Depending on the size of your fund, I think you'll need to get independent advice before you can transfer.

As I understand it, if they don't recommend the transfer, then you won't be able to.

…and if you tell them it’s to invest in crypto…. Once they’ve picked themselves up off of the ground… the answer will be not to recommend it.

[LeoSayer]

Crypto isn't an investment as I understand the meaning of the word.

It's pure speculation, mixed up with fraud and scammers wherever you look.

Why risk your retirement plans on such a thing?

[number2]

GT03ROB said:

AdeTuono said:

sanatogen said:

Hi there,

I'd like to transfer one of my standard life UK pensions so that I have exposure to crypto.

From looking online, first option would be to transfer to a SIPP Provider? Then after that I'm not sure how I would proceed, apart from finding a way to use the SIPP to buy e.g. Microstrategy and ARGO. (As ETF and ETNs cannot be used for this in UK)

Any pointers very welcome!

Depending on the size of your fund, I think you'll need to get independent advice before you can transfer.

As I understand it, if they don't recommend the transfer, then you won't be able to.

…and if you tell them it’s to invest in crypto…. Once they’ve picked themselves up off of the ground… the answer will be not to recommend it.

Putting to one side the likely lack of seriousness of the OP.... I didn't think you needed advice to move around DC pots, only if moving from DB to DC.

Don't think crypto gambling would be accessible with pension assets anyway, unless there's indirect access through listed companies.

[Rufus Stone]

sanatogen said:

Hi there,

I'd like to transfer one of my standard life UK pensions so that I have exposure to crypto.

From looking online, first option would be to transfer to a SIPP Provider? Then after that I'm not sure how I would proceed, apart from finding a way to use the SIPP to buy e.g. Microstrategy and ARGO. (As ETF and ETNs cannot be used for this in UK)

Any pointers very welcome!

Give up now. No SIPP provider will do it.

[hyperblue]

Just transfer me 90% and keep the rest in your pension.

At least that way you’ll have 10% of it left when you retire

[bitchstewie]

HL usually show a tick next to whether you can hold stocks or ETFs in a SIPP.

I'd echo caution about crypto not being an investment but likewise I find it slightly nuts that it's practically impossible to choose to put a small percentage of my investments directly into BTC or whatever inside a tax wrapper.

[goldieandblackie]

You must be crazy to transfer a pension into Crypto something like Vanguard S&P 500 VUKE would be much better at the current time and leave it to grow.

[sanatogen]

Ok, thats loud and clear.

Can the SIPP be used to buy shares in companies e.g. Microstrategy/Arg/Tesla etc...

[egomeister]

The PH troll game has gone way downhill.

[Phooey]

This has to be a wind up

But just incase it's not - you'd have to seriously fk'ing stupid, daft, dim, etc, etc to buy into crypto today. It might of been a bit of a fun pump before but the party is well and truly over. Do something good with your money like give it to charity if you're happy to let it go

[clio007]

That’s a great idea to get access to your pension.


Produce a crypto coin, invest all your pension into it, take it out of the other side

[g40steve]

IF you do dip your toe, don’t leave coins or tokens on the exchanges.

If you don’t personally hold them on your device they are not yours!

[Largechris]

OP is buying the dip, perfectly sensible.

[Andy 308GTB]

Largechris said:

OP is buying the dip, perfectly sensible.

Brilliant.

[otherman]

sanatogen said:

Ok, thats loud and clear.

Can the SIPP be used to buy shares in companies e.g. Microstrategy/Arg/Tesla etc...

Of course, but picking individual stocks is also pretty speculative. What's it invested in at the moment in the Standard Life product?

[Simpo Two]

otherman said:

Of course, but picking individual stocks is also pretty speculative.

Speculative yes, but not based on thin air.

The OPs concept seems akin to jumping out of an aeroplane holding an umbrella.

If ever there was a time to cite 'only invest what you can afford to lose' this is it. On that basis, carry on and I hope it works for him

[Zumbruk]

Largechris said:

OP is buying the dip, perfectly sensible.

Dip, schmip, doesn't matter when someone's stolen all your coins.