Cryptocurrencies are not a fad. We may not know exactly where they’re going, but we know they are definitely not going away. In fact, 2021 is already shaping up to be another big year for crypto. In February, the Chicago Mercantile Exchange began selling Ethereum futures. Sometime in the next few months, Coinbase is going public with an estimated IPO somewhere between $30 and $100 billion. And Paypal has announced that they’ll allow crypto trading on their insanely popular Venmo app sometime in the first half of 2021. But what does all this mean for you? It means cryptocurrencies aren’t just for speculative investors anymore. Now, even the most cautious investors who trying to build their nest eggs are putting a portion of their assets into digital currencies. And if you don’t want to miss out, you need to open a Bitcoin IRA account now.
What Is Bitcoin IRA?
For those who are new to investing and retirement planning, an individual retirement account, or IRA for short, is a special kind of retirement savings account that gives you major tax breaks. There are different types of IRAs, and the specific rules governing each depend on your employment status and income level. But the basic idea is they help you grow wealth faster so you are ready for the future. And with IRAs, you are not limited to cash deposits. You can also put other types of financial products like stocks, bonds, and mutual funds into your IRA.
Now, thanks to companies like Bitcoin IRA, you can even fund your IRA with cryptocurrencies. And it’s so easy, you hardly need to know anything about crypto to get started.
A Bitcoin IRA account lets you earmark cryptocurrency holdings as retirement savings, thus realizing the same tax breaks on any potential growth that you would get on traditional investments. These crypto IRAs follow a lot of the same rules as regular IRAs. That means there are early withdrawal fees if you want to cash out before you turn 59½. It also means that only “earned income” is eligible for deposit into a crypto IRA, so you cannot transfer your existing crypto holdings into your Bitcoin IRA account. However, unlike traditional IRAs, which typically cap contributions at about $6,000 per year, with a Bitcoin IRA account there is no yearly investment cap. And just because you can’t transfer any existing crypto holdings, that doesn’t mean you have to start entirely from scratch. With a Bitcoin IRA account, you can transfer any existing retirement savings accounts into your crypto IRA without any penalties or fees.
Hands On Assistance From The Experts
Retirement planning can be very complicated, and if you’re thinking about setting up a crypto IRA you probably have a lot of questions. The good news is that, if you invest with Bitcoin IRA, you’ll have all the help you need.
Bitcoin IRA is a full-service company that will walk you through every step of the process. Once you complete the Bitcoin IRA account application, they will help you fund your account. Whether that means transferring funds from an existing retirement savings account, or your regular old checking account, they’ll make the request for you and complete the transaction. Then they’ll help you perform your first trade. Bitcoin IRA currently offers Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Stellar Lumens (XLM), Zcash (ZEC), Bitcoin Cash (BCH), Ethereum Classic (ETC), and Digital Gold (DG). And you can invest in one coin or a combination of multiple coins.
Once you’re all set up, you can perform your own trades through Bitcoin IRA’s easy-to-use online platform. All of your digital assets are then stored in your BitGo Wallet. And with 256 bit SSL encryption, offline cold storage, and up to $100 million in insurance, BitGo might be the most secure digital currency wallet on the planet.
Don’t Miss Out On The Future
Cryptocurrencies have already made people a lot of money, and they may very well continue to do so. If you don’t want to miss out, you need to act now. By investing with a Bitcoin IRA, you’re giving yourself the chance to hit it big on the next crypto boom without having to pay half of it back in taxes. If that sounds like a win-win to you, then click here to get started.
Futurism fans: To create this content, a non-editorial team worked with an affiliate partner. We may collect a small commission on items purchased through this page. This post does not necessarily reflect the views or the endorsement of the Futurism.com editorial staff.
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