Southern Security has partnered with the Credit Union Wealth Group to provide accessible cryptocurrency investing to our members. This program is designed to provide our members with access to professionally managed cryptocurrency portfolios and expert crypto-advisors. Before gaining access to any crypto portfolios, we take the time to evaluate each member’s financial situation to make sure crypto is a prudent part of their investment plan given their risk tolerance. If crypto is appropriate for a member, we invest a portion of their funds into a diverse spread of cryptocurrencies that are constantly monitored by our industry experts.

Frequently Asked Questions: 

What is cryptocurrency?
Cryptocurrency is a class of digital assets created using cryptographic techniques that enable people to buy, sell or trade them securely. Unlike traditional currencies controlled by national governments, cryptocurrencies can circulate without a monetary authority such as a central bank.

How is virtual currency treated for Federal income tax purposes?
Virtual currency is treated as property and general tax principles applicable to property transactions apply to transactions using virtual currency.  For more information on the tax treatment of virtual currency, see Notice 2014-21.

Who controls cryptocurrencies?
Blockchain does not allocate control to a single entity in the case of cryptocurrencies. However, the creators or developers of cryptocurrencies can set specific parameters such as rules for purchasing or selling cryptocurrency.

What are cryptocurrency wallets?
Cryptocurrency wallets are platforms for the secure storage of digital assets in comparison to exchanges. These wallets can be online or offline. Hot wallets are accessible through online sources such as a web browser or secured app. Offline wallets are called cold wallets and are stored on a computer or external storage device.

How can I buy cryptocurrencies?
To get started investing in cryptocurrencies, you can set up an account here.

Disclosures:
Investments in securities and digital assets are: Not FDIC Insured – Not NCUA Insured – No Bank Guarantee – May Lose Value.
Investing in digital assets is highly speculative and volatile, and only suitable for investors who are able to bear the risk of potential loss and experience sharp drawdowns. Investing in digital assets should only be part of a diversified portfolio. The above material and content should not be considered to be a recommendation. Digital assets are not legal tender and are not backed by the U.S. government. Digital assets are not subject to SIPC protections.