A new fund providing access the world of cryptocurrency investment coupled with the benefit of tax relief via the Enterprise Investment Scheme has been launched.
The brainchild of finance professional Andrew Pritchard DipPFS, The 10x Growth Account is a UK-based investment opportunity which allows investors access to a portfolio of cryptocurrencies such as Bitcoin, Ethereum and Ripple through a collaboration with the Centre for Citizenship Enterprise and Governance (CCEG) and their secure platform seratio-coins.world.
New accounts can be opened from GBP1000, which can be paid via sterling, US dollars, euros bitcoin or ethereum. The 10x Growth Account is accepting new account holders into its current account until 30th April 2018, after which the account will be closed and the funds invested in a portfolio of cryptocurrencies. All accounts will be locked in for a minimum period of 12 months, during which the cryptocurrency account will be managed by global blockchain and crypto consultancy Rothbadi & Co, who will also provide quarterly valuation statements. After 12 months, account holders can choose to fully withdraw their funds, partially withdraw or leave their investment in full in the account.
In addition, new account holders in the 10x Growth Account will receive a shareholding in a Social Enterprise, operated by The Golgorathism Foundation, which aims to help artists and all those dedicated to creativity to inspire others. The Social Enterprise has EIS tax relief benefits for 40 per cent on all payments made into the 10x Growth Account.
Pritchard has over three decades of experience in the financial services sectors and is also an experienced cryptoinvestor, after initially investing in a Bitcoin each for his children and seeing the value rise. Then studying the crypto market further as well as making additional investments, he recognised the barriers to entry for many people wanting to explore the world of Cryptoinvesting, and so brought together an incredible team of academics, financial analysts and directors to create the 10x Growth Account.
“The 10x Growth Account really is the first Cryptocurrency Account of its kind, and will help many more people to start investing in Cryptocurrency without the worry of which coins to favour, which exchanges to use and how to invest,” says Pritchard. “By opening a 10x Growth Account, people will be accessing some of the best expertise and industry insight, greatly increasing the chances of their investment in cryptocurrency growing over the next 12 months, in addition to this, the account also provides amazing social enterprise benefits due to the collaboration with the team at CCEG. With any investment, you should only ever put in what is affordable and seek financial guidance if you are unsure.”