If you are stashing cash to fund your retirement, price inflation means that the real value of your cash diminishes.
This is why canny investors save for their retirement using other assets: stocks, ETFs, real estate, and physical precious metals like gold and silver.
Bitcoin is not subject to deflationary pressure , because the supply of Bitcoin is capped at 210m coins.
Although it is unlikely, you could find that your Bitcoin investment is worth less than you paid for it when you retire.
If you are under 50, the IRS allows you to invest up to $6,000 in an SDIRA every year.
A key advantage of an SDIRA is that you will not pay income tax on any money you invest in it.
If you have a Roth IRA, you will not pay tax when you take a ‘distribution’ .
Bitcoin IRA accounts like that offered by Regal Assets, for example, encourage you to HODL your crypto .
This means the world of finance, effectively, has a new toy to play with; the possibilities are endless, as are the rewards.
A recent survey of US financial advisors found that crypto is becoming far more acceptable in personal finance circles too.
At the beginning of the Ukraine crisis, the US state of Colorado announced that it would begin to accept crypto for tax payments.
If you are saving for retirement, it is likely that you do not want to take too many risks: your life savings are at stake after all.
A sensible strategy, then, is to invest a small part of your SDIRA allowance into a Bitcoin IRA.
Many investors, therefore, choose to manage risk by investing in both crypto and precious metals including gold.
We recommend California-based provider Regal Assets as a good place to start: Regal Assets has an excellent name in the IRA business and offers a simple flat annual fee as well as top security and crypto buying options.
The Regal IRA is overseen by reputable custodian Kingdom Trust, which is regulated by the South Dakota Division of Banking.
With the Regal IRA, investors can stash crypto, precious metals, and stocks.
You will then be able to choose from a growing range of 25+ crypto, with high-security crypto cold storage as standard.
60+ crypto are on offer, with purchases protected by BitGo crypto security and insurance underwritten by Lloyds of London.
Regal Assets, on the other hand, follows the ‘stash-and-hold’ model, which means investors are encouraged to buy crypto and hold it for the long term.
A standout feature of Bitcoin IRA is the Bitcoin IRA Earn scheme.
Custodianship of IRA accounts is covered by Kingdom Trust and cold storage for crypto is provided by Fidelity Digital Assets.
The company provides an IRA format for every conceivable asset: crypto, stocks, precious metals, real estate, foreign exchange, commodities, and other paper assets.
Investors are expected to interact with their crypto IRA via one of many providers: BlockMint, BitIRA, BitTrust IRA, Coin IRA & My Digital Money.
By contrast, to benefit from Bitcoin IRA’s Earn program, you have to invest a minimum of $10,000.
A Bitcoin IRA might be just as good a post-pandemic investment as a Gold IRA.
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