Looking to diversify your retirement portfolio? Get some expert tips on self-directed crypto IRAs from CosmosUPS!
Maybe you've thought about buying crypto, but has it ever crossed your mind that you can invest in Bitcoin and other digital currencies for retirement? Learn the basics and who to invest with in CosmosUPS' new guide!
Check out the beginner guide here: https://cosmosups.com/top-crypto-and-bitcoin-ira-complete-analysis-of-the-best-exchanges-and-brokers/
In the new guide you can learn about how to diversify your retirement portfolio by investing in cryptocurrency with a self-directed IRA. The guide explains what to think about when deciding on investing with a broker or through exchanges and which ones are the best depending on your preferences.
Cryptocurrency is still considered a volatile asset, but if you have expendable cash and are looking for alternative side investments, you could find Bitcoin and other currencies a fun and potentially very profitable way to save for retirement. CosmosUPS brings useful advice on crypto, helping you make informed decisions at the beginning of your investment journey.
As explained by Bankrate, cryptocurrency emerged as a response to the Great Recession, and skepticism about central banks grew. Starting off as a very niche asset, crypto has, in the past decade, become popular among the wider population, with 17% of Americans having owned cryptocurrency as of 2023. The largest age group of crypto holders in 2021 was millennials born between 1981 and 1996.
Crypto IRAs come with the benefit of allowing you to invest in currencies like Bitcoin without paying tax on gains until withdrawal. However, downsides include not being able to utilize tax incentives for retirement savings and capital gain taxes in case of early withdrawal.
"A cryptocurrency IRA lets you diversify your portfolio and avoid paying capital gains taxes. You can invest in various currencies based on which suits your needs best," a company spokesperson said.
CosmosUPS has listed brokers and exchanges like CoinIRA, iTrustCapital, BlockMint, and Coinbase. The online resource has ranked them based on a survey where readers were asked what they prioritize when choosing an IRA provider. A majority said that fees was the most important factor, and 40% favored customer support.
With this in mind, CosmosUPS rated Bitcoin IRA as the best provider. However, BlockMint ranked as the best provider for beginners.
In addition to self-directed IRAs, it's also possible to invest in cryptocurrency through a 401(k), 403(b), 457(b), SIMPLE IRA, SEP IRA, or traditional IRA, CosmosUPS explains. However, it's not possible to invest directly in digital currencies with a Roth IRA.
See all the reviews of crypto IRA providers at: https://cosmosups.com/top-crypto-and-bitcoin-ira-complete-analysis-of-the-best-exchanges-and-brokers/
