Interested in crypto IRAs? Read this new guide by CosmosUPS to find out if it’s right for your financial goals!
It’s never too early to start thinking about retirement. Sure, you’re planning to take up a new hobby, travel the world, and start writing your autobiography. I meant thinking about your income sources! My wife and I have started aggressively planning for our retirement, we play the lottery 3-5 times per week.
If you're not into gambling, but would like to diversify your retirement portfolio, you should consider crypto IRAs. Oh, you haven’t heard of them? Then start with this guide by CosmosUPS, “Top Crypto and Bitcoin IRA: Complete Analysis of the Best Exchanges and Brokers”. The main thing you should know is that similar to normal IRAs, crypto IRAs offer a tax-advantaged status, however, they also bring additional diversification benefits and growth potential.
The popularity of cryptocurrencies as a retirement investment is growing. The 2022 Investopedia Financial Literacy Survey revealed that about one-third of investors under the age of 55 are planning to rely on cryptocurrency during retirement. Imagine that! CosmosUPS understands that as a crypto beginner, you may not know where to start, and published a comprehensive guide that gives you all the basics you need to know.
The guide starts by describing the key benefits of crypto IRAs and which plans can be used for crypto investment. “You can make investments in cryptocurrency through your 401(k), 403(b), 457(b), SIMPLE IRA, SEP IRA, Traditional IRA, or another kind of pension account,” the guide states. “However, it is not possible to directly invest in cryptocurrency through a Roth IRA. To invest in cryptocurrency, you must start a new Roth IRA account.”
CosmosUPS also explains the factors that it used to assess different crypto IRA providers, and that you should consider when choosing a provider. These include fees, customer support, minimum account balance requirements, accessibility, security, a mobile application, and others.
You will find an outline of the advantages and disadvantages of several popular providers, including BitIRA, CoinIRA, iTrustCapital, BlockMint, and Broad Financial. The guide concludes that Bitcoin IRA is the best overall provider for individuals who would like to diversify their portfolio. The platform allows users to invest directly in cryptocurrency without exchanges, however, the charges are high in comparison with alternative platforms, the guide explains.
In terms of security, CosmosUPS recommends BitIRA. The accounts in the platform are secured with multi-factor authorization, and three options - desktop software, web browser, and mobile app - are available, with different login procedures.
If you want to find out more and decide if this option is right for you, read the full guide at https://cosmosups.com/top-crypto-and-bitcoin-ira-complete-analysis-of-the-best-exchanges-and-brokers/
Disclaimer: The information provided on this page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and it should not be treated as such. This content is the opinion of a third party and this site does not recommend that any specific cryptocurrency should be bought, sold, or held, or that any crypto investment should be made. The Crypto market is high risk, with high-risk and unproven projects. Readers should do their own research and consult a professional financial advisor before making any investment decisions.
