What is crypto IRA? And how does it work?
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Bitcoin IRA is another form of self-directed IRA, meaning, bitcoin IRA works just like every other forms of IRA, except you are investing in cryptocurrency instead of mutual funds. Bitcoin, Ethereum, and other cryptocurrencies are revolutionizing the way people invest, especially with their traditional IRAs and Bitcoin Roth IRAs. These crypto retirement accounts are tax-advantaged to help keep your capital gains. Investors can roll over their IRAs and 401ks into a Bitcoin IRA. Most providers of Bitcoin IRAs include proprietary secure storage methods to help keep your digital coins protected from theft once you purchase them.
I really don’t recommend for one reason— volatility. You could have amazing gains that are consistently better than the stock market, but if and when you’re relying on retirement income as a fixed income, volatility can lower your value as you are selling assets to pay for living. Your portfolio could drain too fast as a result. If you are able, it is way better to invest traditionally for retirement and also in crypto with extra money.