Intro To Investing In Bitcoin With Your 401(k)
There has never been a better time to buy Bitcoin with your 401k or standard IRA. So if you’re asking yourself “Can I invest my 401k in Bitcoin?” the answer is, well, maybe. It depends on your situation, so read on to learn more.
This article will explain some of the eligibility requirements to purchase Bitcoin with your 401(k) funds by moving it into a Bitcoin IRA, show you the benefits of making this move, and describe the three steps that go into getting started.
Deciding to invest in Bitcoin, also known as cryptocurrency, has a number of benefits for your retirement that standard asset classes can’t match.
By investing your 401(k) into Bitcoin, which can be achieved by converting your retirement into what’s called a self-directed IRA, you gain a huge amount of freedom of choice. That’s because you’ll be able to select from more options for your retirement than the conventional investment choices that are usually available in the market.
But there are also a number of other details to consider before deciding to rollover a portion of your 401k into Bitcoin. Plus, this is a newer asset class with extraordinary growth potential, so you should fully understand everything there is to know about this unique opportunity before making a decision.
Finally, most people don’t fully understand how to get started transferring their 401k into digital currencies like Bitcoin, so this article will explain that as well.
To learn more, keep reading below or watch the video here:
More People Are Starting to Invest Their 401k in Bitcoin Than Ever Before… Here are 7 Reasons Why:
1. Get in on the ground floor of “the next big thing” – a major disruption of the central banking system. Bitcoin and cryptocurrencies like it represent one of the most innovative ideas of the 21st century. You still have time to reap the investment advantages and gain wealth.
2. You can leverage tax-free personal property status by investing 401k in Bitcoin IRA. Thanks to the IRS Notice 2014-21, cryptocurrencies are treated as personal property. Gains you accrue can be retained tax-free until you take a distribution. But the leverage you get is even better…
When you buy any cryptocurrency inside your IRA account and sell them later for a profit, you can reinvest your capital into any IRA-eligible asset and still get tax-deferred benefits.
These assets can include stocks, bonds, mutual funds, ETFs, precious metals, private equity, certain types of real estate, and more.
3. You can further diversify your retirement portfolio by rolling part of it into a Bitcoin IRA. As you probably know, when it comes to investing you should never put all of your eggs in one basket. By leveraging this new asset class, you can expand and protect your retirement.
4. You get to leverage the power of the blockchain with fast, secure, peer-to-peer confirmation and mediation. Bitcoin works directly from person to person, with 100% secure blockchain technology conducting the transaction. This allows you to remove the “middle men” like governments and banks, and take back control of your retirement.
5. You can protect part of your retirement from inflation. Some digital currencies (including Bitcoin) have a hard limit on how much supply is available. All cryptocurrencies become “harder to get” as supply increases. This is called adaptive scaling. Unlike easy-to-get fiat money that is printed on-demand, Bitcoin allows you to hedge your savings against inflation.
6. You can take control of the funds in your old 401k so it’s not under the influence of the central bank policies. Cryptocurrencies like Bitcoin don’t rely on the performance of our central banking system. They are decentralized, so they don’t have a controlling entity where the money flows through. This means this part of your retirement funds are under your control. The governments and banks can’t interfere.
7. Hedge against a “stock bubble” that might turn your retirement into “rubble.” Roughly every 6 to 10 years the market price corrects for overvalued stocks. If you don’t have your money in the right places, your retirement savings could suffer the consequences. As one of the things that you can do to avoid this, roll some of your 401k into Bitcoin IRA to protect yourself.
Before you can take advantage of any of these benefits of rolling your 401k to Bitcoin, there are specific details you need to know, and 3 steps to take…
Here is How You Can Buy Bitcoin with a 401(k) or Standard IRA…
In as little as a few days from now, you can convert your 401(k) into Bitcoin.
But most 401k programs don’t allow the direct purchase of digital currency. So the easiest and quickest way to get the 7 benefits we’ve listed above is to use a self-directed Digital IRA.
“Self-directed” means you’re in charge. While that may sound challenging, it’s really simple. Plus, you get to maintain complete control of your investments. On top of that, IRS guidelines allow these sorts of IRAs to invest in a complete assortment of different assets, including Bitcoin. They can include gold, silver, real estate, private equity and more.
To see if you’re eligible…
The general rule of thumb is your 401(k) must have been from a previous employer or you are over 59.5 years old. Other eligibility requirements can vary depending on the type of retirement account you have (Roth, 403b, 457, etc.).
Please note, the rules dictating eligibility to move a 401(k) to IRA aren’t always crystal clear, and can vary from person to person. If you are confused or unsure of your own eligibility, please contact BitIRA today for a complimentary consultation. We have a team of IRA Specialists who are well-versed in the rules of 401k to Bitcoin IRA rollovers. If you choose to move forward with opening a Bitcoin IRA, they can assist you with the entire transfer process to make it quick and easy. However, please note that there is no obligation for you to take any action after your consultation.
With BitIRA, here are the 3 steps to convert your 401k into Bitcoin:
- Open and fund a self-directed Digital IRA with a qualified custodian, so you’ll be able to start the process of transferring your 401(k) to Bitcoin. In order to set up this new account, our IRA Specialists can complete as much of the paperwork as you’d like; we’ll adjust to your level of comfort.Your new custodian will be Preferred Trust Company (PTC), a licensed trust company with a specific focus on self-directed IRAs. PTC’s custodian fees are among the most competitive in the industry, especially as it relates to Bitcoin IRAs.
- BitIRA works in tandem with PTC to acquire your new digital currency assets on your behalf via one of our partner exchanges. By overseeing one of the largest networks of trading partners in the cryptocurrency market, they ensure that your purchases can be executed with extreme speed.
- Your Bitcoin will be stored in a digital wallet via our proprietary solution, the world’s first and only fully-insured cold storage wallet for Digital Currency IRAs. Simply put, there is no more secure option for storing cryptocurrencies in your IRA.
To learn even more, click here to read about the full process of rolling over a 401k to a Bitcoin IRA.
How to Buy Bitcoin With a 401k Through BitIRA…
The team at BitIRA has been helping Americans purchase alternative assets for their IRAs for years, so we are fully prepared to help you convert your 401k to Bitcoin quickly and easily.
Contact us today to get started. First, your Digital Currency Specialist will answer all of your questions. Frequent questions that they can answer include…
- How is a Bitcoin IRA IRS-compliant?
- Which digital coins can I purchase for my IRA?
- Can I transfer retirement accounts beside a 401(k)?
- What are the fees, and what do they cover?
- How do I know that my cryptocurrency will be secure?
Then, your Digital Currency Specialist can help you complete paperwork, oversee rollovers, explain asset options, assist with contributions or distributions, offer ongoing support… and a whole lot more.
To take the first step in moving your 401(k) to Bitcoin within a Digital Currency IRA, contact us today.