Most people are passive and incurious in their strategy for setting up a self-directed IRA. They most frequently take the path of least resistance, and go with a self-directed IRA in stocks, bonds or mutual funds. This is probably because they’re not aware they have other options – quite a few other options, actually.
In a self-directed IRA, you can invest in commercial rental properties, precious metals, oil and gas organizations, tax lien certificates and even private placements. One of the keys to choosing a solid and allowable alternative investment in your self-directed IRA is to work through a reputable custodian. As the Security and Exchange Commission (SEC) clearly states through its Office of Investor Education and Advocacy:
“Most IRA custodians are banks and broker-dealers that limit the holdings in IRA accounts to firm-approved stocks, bonds, mutual funds and CDs. Custodians and trustees for self-directed IRAs, however, may allow investors to invest retirement funds in other types of assets …”
Given this allowable path to an alternative investment, we highly suggest you consider an investment in bitcoin for your self-directed IRA.
Bitcoin is digital currency that originates and is sustained electronically. Unlike dollars or other fiat currency, bitcoin is not printed or controlled by any government. There is no intermediary between payer and payee. As such, bitcoin is frequently characterized as a “peer-to-peer currency.”
Bitcoin has virtues traditional money can’t compete with. You can set up a bitcoin account in no time. With a traditional bank account, you sometimes have to wait days for a new account to be approved.
Also, with bitcoin, you can send money internationally in seconds and not have to wait for approval. Remember, large banks don’t control bitcoin. Details of every bitcoin transaction are stored in a general ledger called a blockchain. But since it’s not possible to get to the person responsible for a bitcoin transaction by knowing a bitcoin address, all bitcoins transactions are anonymous.
Bitcoin reputation for quick anonymous money has definitely caught on. Businesses like Dell, Target, Amazon, Victoria’s Secret, Paypal, and many others all accept bitcoin.
Because of its volatility and possibility for very wide use, bitcoin offers solid opportunity for upside potential. It’s for these reasons, we suggest you consider a self-directed bitcoin IRA as a long-term investment.
This kind of investment is not for everyone. You have to be an accredited investor to participate. In other words, you need a net worth of a million dollars, not counting the value of your primary residence. Or you need to have an income of $200,000 dollars in each of the last two years (or $300,000 with a spouse).
You can have an IRA consisting exclusively of bitcoin, or as part of a mixed portfolio with other assets; but, in either case, your IRA must be self-directed. And to have a self-directed IRA, you’ll need a custodian. There are only a few custodians who handle bitcoin.
If you want to set up a bitcoin self-directed IRA, call BitcoinIRA at 1-800-717-1130. One of our representatives will help you initiate your account through a reputable and knowledgeable custodian.