This means that you can't directly contribute cryptocurrency to your individual Roth retirement account (Roth IRA), but you can add it to your IRA through a purchase. As you research the custodians of Bitcoin IRAs, remember that you'll want to make sure that the types of accounts, exchanges, and cryptocurrencies available fit your goals. Therefore, to open a bitcoin IRA, you would work with special custodians who can store and trade cryptocurrency. Unlike the easy-to-get dollar that is printed on demand, a Bitcoin IRA allows you to protect your retirement savings against inflation.
Over the past year, interest in cryptocurrencies has become much more popular, and the price of bitcoin, the highest by market value, reached an all-time high in April. Keep in mind that there are other ways to hold bitcoins, in regular accounts on cryptocurrency trading platforms such as Coinbase and Binance US. Most Bitcoin IRA providers include patented secure storage methods to help keep your digital currencies protected from theft once you buy them. We also allow you to invest in other assets and cryptocurrencies, such as Litecoin, Bitcoin Cash, Stellar Lumens, Zcash and physical gold.
We researched numerous bitcoin IRAs to find the best cryptocurrency selection options, fees, security, features, and more. The terms “bitcoin IRA” and “cryptocurrency IRA” are used interchangeably, as “Kleenex” is for “fabrics”, but refer to the same concept of creating self-directed individual retirement accounts (SDIRA) to invest directly in the underlying cryptocurrencies. And, perhaps most importantly, consider Bitcoin and other cryptocurrencies as a small part of your overall retirement plan, not as its entirety. More than 150,000 users have joined the platform, where they can invest in Bitcoin, Ethereum and other cryptocurrencies, making us the largest cryptocurrency withdrawal platform.
But you'll also enjoy tremendous benefits if you buy Bitcoin for your retirement account and sell it later while keeping the funds inside the IRA. Just to be clear, a Bitcoin IRA is a self-directed individual retirement account (SDIRA) that contains investments in Bitcoins. I think Bitcoin's enormous upside potential is worth the risk, especially if you're only investing a small percentage of the total value of your IRA. For example, a Bitcoin IRA company could partner with a particular exchange or could allow you to trade any third-party cryptocurrency exchange.
You can't put bitcoins into a pre-existing regular IRA that contains your stocks, bonds, ETFs, or mutual funds.