How MyVested Works
Vested Tech PTY LTD trading as MyVested, offers a cryptocurrency micro-investment platform providing you an easy way to invest directly into cryptocurrencies like Bitcoin and Ethereum along with a variety of alternate cryptocurrencies using small or large sums of money. If you choose to register, we will create one MyVested investment account (MyVested Account) for you. Vested Tech PTY LTD purchases and sells cryptocurrency in its own right and then uses these holdings to provide cryptocurrency exchange services directly to you as part of the creation, rebalance or withdrawal of your portfolio. Any transactions you make on your MyVested Account will be individually tracked and managed through our internal ledger. Vested Tech PTY LTD acts as a custodian of your cryptocurrency assets and holds all assets including each cryptocurrency wallet within each exchange.
Through your MyVested Account you are purchasing individual cryptocurrencies which have been made available through the creation of portfolios comprised of cryptocurrencies listed on coinmarketcap.com. You select one portfolio based on your personal goals and objectives and financial circumstances. The value of your MyVested cryptocurrency portfolio will vary as the price of the cryptocurrencies increase or decrease in value.
Micro-investing allows you to regularly save small sums of money which are then invested into your selected cryptocurrency portfolio.
Contributions to your MyVested Account
You will be required to link a nominated bank account, credit card, or debit card to your MyVested Account (Funding Account). Your contributions and some fees (where applicable) will be debited from this nominated bank account.
If you select to contribute funds into your MyVested Account using Round-Ups, you will, in addition to nominating a Funding Account, be required to link a nominated bank account or debit card to your MyVested Account that you use for everyday transactions (Transaction Account). Your Round-Up contributions will be calculated on the day-to-day transactions you make using this nominated bank account.
There are three ways that you can contribute funds into your MyVested Account. You can select from turning on Round-Ups, setting up Recurring Deposits, or making a Lump Sum Deposit. The minimum investment amount to open your MyVested Account is $5 AUD.
You may deposit a lump sum amount into your MyVested Account at any time. The maximum daily deposit is $8,000 AUD. The minimum deposit per transaction is $5 AUD. To make a lump sum deposit, enter the requested amount in the Deposit/Withdraw screen on the MyVested App.Round Ups
By selecting Round-ups as your method of contribution, you are able to round-up change from everyday transactions you make using your nominated account by rounding up each transaction to the nearest dollar. For example, when you buy your morning coffee for $3.75 AUD, the MyVested App will automatically round the transaction up to $4 AUD, giving you $0.25 AUD to add to your cryptocurrency portfolio. Once you have reached the minimum amount of $5 AUD, this spare change is transferred to your MyVested Account and invested into your selected cryptocurrency portfolio.
Round-ups are automatic and can assist your weekly deposits, you also have the ability to manually round up transactions through the Round-ups screen on the MyVested App. Round-ups can be turned on and off through the account settings screen on the MyVested App.
If enabled, the MyVested App will automatically initiate the direct deposit from your Funding Account. If automatic Round-Ups are not enabled, you will still have the option to manually round up transactions through the Round-up screen.Recurring Deposits
You can turn on recurring deposits from your linked account on a weekly, fortnightly or monthly basis. Recurring deposits can be turned on/off within the Deposit/Withdraw page of the MyVested App. You can set a maximum daily deposit limit of $8,000 AUD. Recurring deposits are subject to a minimum deposit amount of $5 AUD per deposit.
Accessing your funds
You can request to withdraw all or part of your investment at any time, through the MyVested App. Once the request is received, we will dispose of all or part of the cryptocurrency in your MyVested Account and return to you the dollar value of your portfolio, as at the date of the disposal, within five (5) business days from the date we receive your request.
At times, there may be network delays or exchange performed wallet maintenance which may result in you not being able to withdraw funds from your MyVested Account within the above timeframes. The amount received may vary from the last total portfolio value displayed in your MyVested App due to market movements and the time of sale.
Withdrawals are made by MyVested transferring the funds to your nominated Funding Account. We do not cater for cryptocurrency withdrawals at this point in time.
You can select a portfolio into which your funds will be invested. Each portfolio is comprised of cryptocurrencies listed on Coinmarketcap.com. There are two types of portfolios offered, Automated and Custom. Automated portfolios range from conservative to aggressive risk profiles. Custom portfolios are selected by you from coins made available and are limited to a holding of five different currencies.
Currently you are only able to hold one portfolio type through your MyVested Account. However, we are working on expanding this so that you can hold multiple portfolio types through your MyVested Account and will let you when this feature is available.
You are purchasing individual cryptocurrencies which together make up your portfolio. In determining which portfolio is most appropriate for you, you must consider your financial situation, goals and objectives, your risk profile and investment timeline.How we construct Automated Portfolios
Automated portfolios are constructed using an algorithm which selects each digital currency based on total market capitalisation (market cap) and is restricted to the top ten digital currencies listed on coinmarketcap.com. These restrictions are imposed to ensure enough liquidity is available within the market at the time of purchase. This method for portfolio construction is designed to provide users with a simple method for entering into the cryptocurrency market.
There are four portfolios that you are able to select from.
Cryptocurrencies listed are for example purposes only and may not reflect the cryptocurrency holdings or weightings in your selected portfolio at any given time. The cryptocurrency holdings and weightings in any automated portfolio may change on a regular basis.
Conservative Portfolio - TThis portfolio is weighted evenly between the two cryptocurrencies with the highest market capitalisation. The objective of the conservative portfolio is to provide a relative lower risk option corresponding in lower returns;
Cryptocurrency Distribution Bitcoin 50% Ethereum 50%
Balanced Portfolio – This portfolio is weighted between the top five ranked cryptocurrencies based on the highest market capitalisation . The objective of this portfolio is to provide a moderately higher risk exposure to cryptocurrencies, corresponding in moderate exposure to a greater number of cryptocurrencies.
Cryptocurrency Distribution Ethereum 40% Ripple 20% Bitcoin Cash 20% EOS 20%
Aggressive Portfolio – Aggressive Portfolio – This portfolio is evenly weighted between cryptocurrencies ranked sixth to tenth in highest market capitalisation. The objective of the aggressive portfolio is to provide a relatively higher level of risk exposure corresponding in exposure to a greater amount of cryptocurrencies;
Cryptocurrency Distribution Litecoin 20% Cardano 20% Stellar 20% IOTA 20% TRON 20%
Custom Portfolios – Custom Portfolios – Custom portfolios are designed by you, using cryptocurrencies available through MyVested. You will need to select your cryptocurrencies and the weighting distribution for each cryptocurrency. You can add a maximum of five different coin types to your custom portfolio. You may select from over 150 cryptocurrencies as notified by MyVested to you from time to time. You may elect to turn on automatic rebalancing of your custom portfolio through the Settings screen in the MyVested App.
We will rebalance each automated MyVested portfolio (or custom portfolio if you have elected automatic rebalancing) automatically using an algorithm.
Rebalancing will occur in the following scenarios;
- Deposits into your MyVested account;
- Withdrawals from your MyVested account;
- Monthly redistribution of assets in a portfolio to align with the original portfolio weighting;
- Market movements which deviate your MyVested portfolio more than 25%.
By opening a MyVested Account you are providing us with standing instructions to rebalance your portfolio which includes buying and selling digital currencies on your behalf to maintain the original distribution of your selected portfolio, when you deposit funds, when you withdraw funds, and during market movements. This standing instruction will remain until you close your MyVested Account.
Liquidation of Assets
We reserve the right to liquidate your cryptocurrency assets in the event of a technical failure in the underlying blockchain to mitigate against catastrophic loss.
You are able to change your selected portfolio at any time. If you choose to change your portfolio, we will sell the relevant cryptocurrencies and purchase the new cryptocurrencies, on your behalf, in accordance with the newly selected portfolio.
We will action your request promptly unless there are insufficient funds in your portfolio, or pending withdraws which prevent, or delay us from doing so. Once these have been resolved the request will be processed.
Key RiskPerformance Risk
The cryptocurrency market is highly volatile and is not guaranteed by any bank or government. As a result, investment in cryptocurrencies is considered to be highly speculative and the value of your MyVested portfolio, can go up and down. A return on your MyVested portfolio is not guaranteed. Prices can increase or decrease without notice, and significantly over short periods of time, which can result in significant losses.
Cryptocurrencies are built and distributed by a sophisticated computing network. However, the underlying blockchain technology may experience technical failure or corruption. This could result in significant losses for investors.
Portfolio Performance Risk
Your portfolio may vary from other users with the same selected portfolio. This is due to the differentiating time of investment, cryptocurrencies within the portfolio, amounts deposited, the rebalancing algorithm leading to different weighting within each portfolio, and a difference in fees and charges.
Exchanges may be prone to attacks, failures and outages which could result in significant losses. Exchanges are subject to only limited regulation, which will provide you with very limited protection if something goes wrong. There may be times where we are unable to access your funds due to scheduled wallet maintenance and exchange outages. You will need to consider the potential for disruption or other difficulties when planning to use your MyVested Account.
None of Vested Tech PTY LTD or its related entities or any officers or personnel of Vested Tech PTY LTD or any of its related entities, guarantee the performance of your MyVested Account and/or portfolio or the repayment of any amount invested. No one makes any representation as to the success or otherwise of your MyVested Account and/or portfolio.Data Security & Cyber Risk
Your MyVested Account is an online product, which relies on computers, information technology (IT) networks and the internet, it is subject to inherent IT risks including (but not limited to) computer malfunction, unauthorised interference with data, loss of data, unreliability or unavailability of the internet, software bugs, computer viruses and malware, and cyber hacking resulting in the theft of data. MyVested may be unavailable from time to time. Your data is stored on secured servers in Australia. Whilst we take reasonable precaution to keep your MyVested Account secure, we can’t guarantee that it will not be subject to any of the above IT risks. You will need to consider the potential for disruption or other difficulties when planning to use your MyVested Account and the Website.
You should seek your own advice from a qualified professional in relation to the tax treatment of your investment in cryptocurrencies.