For most exchanges the investor must be over 18 years of age, but a parent or guardian can invest in a crypto basket on behalf of minor children if they submit some additional documentation.
By Michael Haldane
May 24, 2022 00:09
Can you please guide me about crypto baskets and how to get them? I am a pensioner from Lesotho. I want to invest in them for my kids.
Thanks for your question.
A cryptocurrency basket can refer to a collection of digital assets such as tokens that investors can buy and manage as a bundle. In this way, investors can fully monitor their digital assets without having to oversee them individually. Cryptocurrency Baskets is designed for investors looking for an effortless and convenient investment option that offers exposure and diversification across their multiple cryptocurrencies. The basket of cryptocurrencies will include a carefully selected group of digital assets that meet a strict standard.
Although investing in cryptocurrency seems like a good idea, it is important to know that investing in the industry is very risky considering that it is not real money and it remains uncontrolled. In South Africa, however, the crypto industry is expected to be regulated by the end of 2022. Once this is done, advisors will be able to offer investment to clients.
It is not difficult to find a platform that already provides crypto baskets. These product suppliers include Jaltech, Easy Equities, Revix and many more.
There are several benefits to investing in a crypto basket:
- Diversification: You are not limited to one type of cryptocurrency, you can invest in Bitcoin, Ether, Polkadot, ChannelLink and many more types of crypto, all in one investment!
- Investment Management: If you are not well versed in the market and do not like to do a lot of research or track market movements or gamble on your investment, there are people who can manage your portfolio for you.
- Cryptos are managed based on market movements: Cryptos are added or removed based on how the market operates.
- Storage: Crypto is stored where there is no exposure to digital platforms such as cyber attacks and loss of coins.
- Affordability: You do not always need a large sum of money to start investing. The minimum investment can range from R100 to R50 000 depending on the platform you want to invest in.
How to invest in a crypto basket?
To invest in our cryptocurrency basket you need to fill out an application form and submit all required FICA documents (ID / passport, proof of residency not more than three months, and a tax number).
As for your question about investing for your children, the investor on most exchanges must be over 18 years of age. However, with a crypto basket, a parent / guardian can invest on behalf of their children and may need to submit some additional documentation. , In addition to general Fica documents, such as:
- Parent to sign the application on behalf of the child;
- The guardian will sign a Foreign Account Tax Compliance (FACTA) form;
- Child birth certificate and ID;
- Parent ID;
- An affidavit stating that the child is with the parent; And
- If the guardian is not a parent or if their name is not on the birth certificate, an affidavit stating that they are the legal guardian of the child.
If you need more information, welcome to contact our office.
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