Did you know you it’s possible to open a new crypto IRA with a rollover from an existing retirement plan that has other types of assets? You may be considering moving a retirement plan that contains stocks or other securities into a new crypto IRA. Bitcoin IRA offers self-directed retirement accounts that provide opportunities to invest in nontraditional assets like cryptocurrencies.
A Bitcoin IRA can be an alternative vehicle for an investor to diversify a portfolio entirely away from the stock market and the dollar altogether.
Investors already managing multiple portfolios or looking for a new way to invest retirement funds can diversify easily when they roll over an existing retirement plan. A new Bitcoin IRA account can be created in just a few minutes through a digital application process.
Why Have a Crypto IRA with Bitcoin IRA?
Diversification is a key reason to consider investing funds in a crypto IRA with Bitcoin IRA. Cryptocurrencies are unrelated to the stock market and other major asset classes like real estate. They are their own digital asset class, and present more and more investment choices as new coins are created.
Another reason that could be considered an advantage is that this asset class is volatile. This volatility means that investors can potentially make significant gains. Of course, high volatility also means that investors could take significant losses.
Moreover, a CNBC poll found the number one reason that investors trade in crypto is the ease of making their own trades. With accessible trading apps, trading cryptocurrency in an IRA has helped investors jump into the asset class.
Finally, investors do not have to pay capital gains taxes with crypto IRAs, and accounts can also come with other tax advantages, depending on the account type.1 For active traders, monitoring taxes with each move can prove difficult with multiple trades each day or many each month. Since Bitcoin IRA provides a statement for tax reporting, there is no reason to worry about keeping track of your own gains made from each trade.
How to Roll an Existing Retirement Plan into a Bitcoin IRA
It’s easy to roll an existing retirement plan into a self-directed crypto IRA when opening an account on the Bitcoin IRA website or app. Account types that call be rolled over include traditional IRAs, Roth IRAs, and 401(k)s. Investors can even use a smartphone to conveniently upload an account statement from a current custodian.
Investors can also open a brand new Bitcoin IRA and fund it with cash contributions. Either way, with a self-directed IRA the account holder has the freedom to choose the coins they want to invest in as well as the amounts they’d like to invest without having to go through a money manager or advisor.
Many account rollovers can occur in just a week. Once a Bitcoin IRA is funded, buying, selling and swapping crypto in a self-directed retirement account is easy. With a newly opened Bitcoin IRA account, investors can start trading using any of the more than 60 cryptocurrencies available through Bitcoin IRA.
Bitcoin IRA is the world’s first and most trusted crypto IRA platform with 24/7 trading using the online portal or mobile app. Bitcoin IRA accounts are protected with military-grade security2 and digital wallets that lead the industry. The platform has been featured extensively in the media, with coverage in Forbes, CNBC, Bloomberg, CoinDesk TV, and The Wall Street Journal, among other leading publications and media outlets.
1Some taxes may apply. We recommend you consult your tax, legal, and investment advisor.
2Security may vary based on asset chosen and custody solution available.