What Are Bitcoin – Ethereum IRAs? For US Residents
Since the invention of Bitcoin (i.e. the world’s very first fully functional digital currency), the cryptocurrency market has evolved at a rapid rhythm.
Numerous Bitcoin millionaires have born out of this crypto evolution. Some were fortunate to find Bitcoin early ter 2010-2011, and those who missed BTC’s to the moon rally were able to make a fortune this year (ter 2017) with Ethereum’s boom.
Still, many others are betting on and searching for the next Bitcoin or Ethereum.
And why not? It’s a clever thing to do te this ripe time of the evolution of cryptocurrencies.
So it’s a living reality that many early adopters, investors, and speculators have benefited from this crypto boom. At the same time, some people are not interested te the every day using and selling of Bitcoin and/or other cryptocurrencies.
This is because they are blessed with their current jobs/business or because they are not that tech savvy enough to use the rapidly evolving ecosystem of Bitcoin and cryptocurrency wallets.
That’s why large chunks of such kinds of people are being left behind ter this boom. They just want to invest and HODL cryptos to reap the benefits during their retirement while loving some tax benefits on their IRA or 401(k).
To aid such strata of people, Bitcoin IRA and Ethereum IRA programs have bot launched, where users can invest with tax benefits and reap excellent results at retirement.
But before wij discuss Bitcoin and Ethereum IRA’s, let see what an IRA is. ..
What is an IRA?
An individual retirement account or IRA is a form of “individual retirement plan”, provided by many financial institutions, that provides tax advantages for retirement savings te the United States.
There are three main types of IRAs:
But such IRAs don’t have spil promising results spil Bitcoin or Ethereum IRAs.
What is a Bitcoin IRA and Ethereum IRA?
Bitcoin and Ethereum IRAs are different from traditional IRAs. Te thesis IRAs, you can invest ter Bitcoin and Ethereum instead of investing your funds into traditional options such spil stocks, bonds, or real estate.
By using thesis types of IRAs overheen traditional IRAs, aspiring retirees can hold real BTC and ETH te their retirement accounts.
- At the time of this writing, the total market cap of cryptocurrencies stands at $117 billion, out of which Bitcoin and Ethereum together have a share of +65% ($76 billion). This is humongous growth ter just 9 years.
- Ter 2017, Bitcoin has witnessed an incredible 500%+ growth from less than $500 vanaf unit to overheen $Trio,000 (at the time of this writing).
- Ter 2017, Ethereum has witnessed an incredible Nineteen,000%+ growth from less than $1 vanaf unit to overheen $200 (at the time of this writing).
Did You Know? If you invested $ 1,000 ter Bitcoin on 1st January 2011, you would now have made $ 11,165,667 te profit. You can check other projected calculations here.
Te light of thesis facts, Bitcoin and other cryptocurrencies are excellent investment options.
Benefits of Bitcoin and Ethereum IRAs
- IRAs (i.e. government approved retirement funds), can be linked to cryptocurrencies like Bitcoin and Ethereum. It means that thesis IRAs are approved and affiliated by the United States.
- Currencies like Bitcoin are resistant to inflation, real estate bubbles, and stock market crises. This makes them a safe toevluchthaven for investments for aspiring retirees.
- Cryptocurrency IRAs provide you with options which you can find te “normal” IRAs for investments such spil Rollover, Traditional, or Roth IRAs.
- When you invest te Bitcoin or Ethereum IRAs, you get the same tax benefits spil you would on regular IRAs and 401(k)s.
So, who is providing thesis services for such IRAs?
About Bitcoin IRA
One such reputable company is BitcoinIRA which permits its customers to invest ter Bitcoin and Ethereum IRAs. They are the very very first company who brought this concept to the market, and they are backed by the US government.
They work with leading financial experts of the industry and also exercise the highest quality of security to secure their customer’s cryptocurrency funds.
They have to do this because of the nature of cryptocurrencies like Bitcoin, spil they are fairly fragile to be stolen or lost if not kept decently. They use multi-signature wallets such spil BitGo, a multilayer system to provide maximum security for your Bitcoin IRA.
Moreover, they permit their customers to loosely determine how much percentage they want to allocate to Ethereum or Bitcoin ter a self-directed manner.
They also provide an inbuilt zakjapanner to calculate your projected earnings if you would have invested te Bitcoin IRAs before. Nevertheless, this contraption is still a ideal medium for you to analyze the power of Bitcoin investments.
Here is a worked out example where wij have assumed a $50,000 investment ter 2012:
Typically a Bitcoin IRA works ter this style:
- Customer fills out a Bitcoin IRA form.
- Customer gets a call for verification.
- Account gets opened within 24 hours.
- Customer funds their account or rollover of funds.
- Customer’s crypto funds are bought and are waterput into a cold or secure wallet.
Here is the working process of BitcoinIRA:
Disclaimer: This is ter no way investment advice or an endorsement for BitcoinIRA. Wij only provide information and education for our CoinSutra community. Wij strongly recommend you to do your due diligence if you choose to invest ter such IRAs.
I hope you found this article interesting and informative. I will be back with another write-up on the best Bitcoin and cryptocurrency IRA companies with their toverfee structures and other relevant details coming up soon.
So until that time, stay tuned to CoinSutra and keep sharing the Bitcoin revolution!
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