Cryptocurrency in Your IRA

Cryptocurrency in Your IRA

Cryptocurrencies like Bitcoin, Litecoin, Ethereum, Ripple, etc ... are all the rage these days and millions of Americans are trying to figure out how to add this new digital currency to a retirement savings portfolio.

What’s the big idea with cryptocurrency?

The visionary behind Bitcoin, “Satoshi Nakamoto”, remains a mystery to this day. He, or she (or they?) must have anticipated this revolutionary idea was going to create powerful enemies. Think about it…
If you don’t think these features are cool then we’ll assume you’re either a banker or a politician. That said, we never really know what the future holds. I doubt that pioneers of the world wide web had “cat video’s” in mind.

Investing in Cryptocurrency

Cryptocurrency is not a tangible asset and its value simply relies on what the market will bear.

Would you rather invest in gold or a gold mining operation? Make a secured loan or explore opportunities in the international debt market? Real Estate or a REIT?

There are plenty of “blockchain funds” to speculate but some investor view cryptocurrency for what it is, the currency of the future. If you simply want to put some money aside in a crypto-IRA savings account the best thing to do is establish an IRA LLC.

With IRA checkbook control, putting cryptocurrency in your IRA is as simple as downloading Coinbase on your smartphone and clicking that “buy” button.

What's the big idea with cryptocurrency

IRAs have a tax advantage, so there are rules associated with them:
In short, make sure it is an investment for your IRA, not a personal savings account.

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