Introducing the Franc Bitcoin Goal

It’s always been important to us at Franc to keep investing simple. In our opinion, that’s how we get more people to grow their money!

We’ve spent time and resources to find, thoroughly research and scrutinise the lowest-cost, highest-performing fund in each category, not only to keep things simple, but so our investors don’t have to do all that hard work themselves. And this week, we’re very excited to announce that we’ve just added another product to our mix in just this way – introducing the Franc Bitcoin Goal! 🥳

The Franc Bitcoin Goal enables our customers to invest in Bitcoin in a simple and straightforward way, without the hassle of creating a digital crypto wallet, storing private keys, having minimum deposit amounts and paying high trading fees. This also means our Franc investors can diversify their portfolios beyond just traditional assets.

What is Bitcoin?

Bitcoin is a decentralised digital crypto asset you can buy, sell, and exchange directly, without an intermediary like a bank. Every Bitcoin transaction ever made exists on a public ledger, called a blockchain, which makes these transactions hard to reverse and difficult to fake. The supply of Bitcoin is limited to 21 million coins, which is one of the reasons some people expect the price to rise over time as demand increases.

Why should you consider investing in Bitcoin?

Bitcoin is the world's most popular cryptocurrency and has shown tremendous growth since its public launch in 2009.

Investing in Bitcoin could be a good way to diversify your investment portfolio – which may only include traditional financial assets like shares and property – with a non-traditional financial asset that isn’t linked to any government or company.

Bitcoin is, however, very risky and has historically shown large fluctuations both up and down in short periods of time, so should only be invested in for the long term. Unless you are a very experienced investor, you should limit your investment exposure to volatile investments such as these to something that won’t sting if it suddenly drops drastically in value.

What are the benefits of investing in the Franc Bitcoin Goal?

Let’s start by explaining how the Franc Bitcoin Goal will work. Once you deposit into your Franc Bitcoin Goal, the deposit will be used to buy into Bitcoin. Franc will only complete buy orders once a day so you will be buying into your Bitcoin investment at whatever the price is when Franc completes the purchase.That Bitcoin will be securely held and managed through a pooled account, held at VALR – which is known to have some of the highest standards of crypto security.

The value of your investment will increase and decrease in line with the Bitcoin price, and when you withdraw the funds you’ve invested in the Bitcoin Goal, the amount you withdraw will be based on the Bitcoin price at that time.

Unlike buying Bitcoin directly, there are a number of benefits in this pooled purchase approach:

• You don’t need to sign up for a digital wallet or exchange account through which to buy, sell, or store your Bitcoin.
• You don’t have to worry about securely storing the keys to your Bitcoin to avoid being hacked, or losing that key in future and being unable to access your Bitcoin.
• There’s no minimum requirement on how much – or how little – you can invest in Bitcoin.
• The trading fees are similar (if not lower) to what you would pay to buy and sell Bitcoin yourself.

The only drawback to investing in Bitcoin through the Franc Bitcoin Goal versus buying it directly is that you won’t own custody of that Bitcoin, and you can’t buy, sell or transfer it directly. That means it’s not suitable for Bitcoin traders.

How can you invest in Bitcoin with Franc?

If you’re a verified Franc account holder, to set up your Bitcoin Goal you need to:

1. Navigate to your portfolio and click on the “Bitcoin Goal” button.
2. You’ll be prompted to complete the crypto quiz. This helps us (and you) understand if you know the concept and implications of crypto and its risks before you start investing.
3. Once you assess if crypto is a suitable investment for you, you can set up your Bitcoin Goal.
4. You can start investing in Bitcoin by making your first deposit. Remember, there are no minimums, so you can make a deposit of any amount! There are two ways you can deposit funds into your Bitcoin Goal:

1. Via in-app InstantEFT. Click on the Deposit button in your Bitcoin Goal and select the InstantEFT option. You’ll be guided through the process of connecting your banking app and making payment.

2. Make a normal EFT deposit through your bank account. Manually deposit the money into your Franc account using the following bank details:
Bank: Nedbank
Name: Franc Group
Account type: Current
Account number: 1285788907

How do you track the performance of the fund?

You can view the value of your investment in the Bitcoin Goal, as well as how much it has gone up or down, on the Franc mobile or web app at any time – just scroll to the bottom of the main dashboard to get a preview, or click on the “Bitcoin Goal” button to view the goal-specific dashboard.

Like with all funds on the Franc app, you can also view the performance – or in this case, price – of Bitcoin over time and toggle between different time frames to see how it has fluctuated and grown. Just tap on “View Fund Performance” in the Bitcoin Goal dashboard.

Note that you can deposit or withdraw your investment in the goal at any time from the Bitcoin Goal dashboard. Unfortunately you can’t transfer to or from your Bitcoin Goal.

FAQs