Homecoin, you haven’t heard of it yet but it’s coming soon. When it’s here, it should be the default gift for communions and confirmations, birthdays, Christmas, bar mitzvah, etc. What is it? It’s a way to get the next generations into homes.

How it works

Homecoin issues coins to anyone one who wants to buy them? Each coin is underpinned by investments in property assets. It’s a cryptocurrency.

So why for communions?

When you get to the stage in life when you need a home of your own, there’s a good chance you have your communion money (it you’re a saver) but it’s worth pittance compared to the price of the home you’re buying. What if you had been saving Homecoins for the last 20 years, getting all your granny and granddads presents in Homecoins? Well if property values had gone up (and they usually do bar the odd crash) the value of Homecoins would have also increased in value. So in bankers terms, you’re hedged! Think of those prize bonds in your drawers.

Why not buy property instead?

Homecoins are a small and low denomination so granny & granddad can give the kids small amounts. All income generated by the underlying property investments are re-invested so there is no problem with income, reinvestments, tax, etc. It adds up pretty quickly as it could start at birth and with compounding and 30 years that’s a lot of time and growth.

When’s it coming?

Looking for regulatory approval in the UK at present so watch out.