Can I buy Cryptocurrencies with Nutmeg?
No, the Nutmeg App does not offer cryptocurrencies or alternative exposure to digital assets with their select portfolios. Nutmeg currently offers 4 different managed portfolios that diversify across stocks, bonds and ETFs. These include:
- Fully Managed: An actively managed stock portfolio with a 0.75% yearly fee.
- Smart Alpha: An actively managed portfolio by JP Morgan with a 0.75% yearly fee.
- Socially Responsible: A portfolio of environmental ETFs with a 0.75% yearly fee.
- Fixed Allocation: A portfolio of low-risk cash instruments with a 0.45% yearly fee.
How to buy Crypto with a Nutmeg Alternative
The easiest way to buy cryptocurrencies like Bitcoin and Ethereum in the United Kingdom is with an eToro account. Their platform offers fast and cheap GBP deposits from any bank account to trade over 70 cryptos and thousands of stocks, ETFs and other assets. They are a secure and Financial Conduct Authority (FCA) regulated exchange.
You can get started with this simple 4 step guide:
- Create an account: Sign up to the eToro platform and verify your identity.
- Fund your account: Select the 'Deposit Funds' button on the bottom of your screen to deposit funds via Bank Transfer or Debit Card/Credit Card.
- Find Crypto: Once the funds hit your account, find the Crypto you want to buy on the eToro platform with their 'Discover' tab.
- Execute your trade: Input the fiat amount you want to buy and execute your trade.
Will Nutmeg ever add Cryptocurrencies?
The current stance from the company is that they do not have plans to add cryptocurrencies in the near future. CEO Martin Stead commented on this in an interview with This is Money, saying: “We don’t currently offer cryptocurrency investing and have no plans to do so in the near future… At Nutmeg, we provide access to traditional investments like stocks and shares ISAs, pensions and life insurance.”
What is Nutmeg?
Nutmeg is an online investment platform that offers its users a simple and convenient way to invest their money. The platform provides a wide range of investment products and services, including shares, bonds, ETFs, and mutual funds. Nutmeg also offers a number of unique features, such as a risk tolerance test and a portfolio builder tool for ISA accounts in the United Kingdom.
There are several key benefits of using the Nutmeg investment platform:
- Convenience: Nutmeg makes it easy and convenient for users to invest their money. All investments can be made online without the need to visit a physical branch or meet with a financial advisor.
- Wide range of products: Nutmeg offers a wide range of investment products, including shares, bonds, ETFs, and mutual funds. This gives users a great deal of flexibility when it comes to investing their money.
- Risk tolerance test: Nutmeg provides a risk tolerance test that helps users understand their risk profile. This is an important tool for ensuring that investments are made in line with an individual's risk appetite.
- ISA accounts: Nutmeg offers a portfolio builder tool for ISA accounts in the United Kingdom. This is a valuable feature for those looking to maximise their tax-free returns from investing.
Nutmeg charges a management fee of 0.75% per year on all assets managed by the platform. There are also no dealing, withdrawal, or transfer fees. This makes Nutmeg one of the most competitively priced investment platforms on the market.
Overall, Nutmeg is a convenient and user-friendly investment platform that offers a wide range of features and benefits. The platform is suitable for both beginner and experienced investors, and is an excellent choice for those looking to invest in a simple and cost-effective way.