Did you know that IRA-accepted precious metals confer many benefits to the holder? Not only do they help you to protect your financial assets, but they also allow you to do so tax-free and penalty-free non-IRS event.
While we are all familiar with the many benefits that a traditional IRA offers, Digital IRAs with Bitcoin and other cryptocurrencies offer significant extra benefits, which we will go into below.
Bitcoin: The Powerhouse of Your IRA
Digital IRAs let you truly enjoy some of the most powerful aspects of this new digital currency asset class; namely its potential for growth, complete anonymity, and the freedom from governance that it offers.
Digital IRAs also offer all of this on a tax-deferred basis, making them a smart option for investors and the easiest way to take advantage of all of these benefits. As a self-directed IRA account, you will also be able to leverage other types of unconventional assets – such as precious metals – which you wouldn’t be able to with a traditional IRA.
Digital IRAs Demystified
While both conventional and digital IRAs act as investment vehicles for your retirement, Digital IRAs offer extra functions that truly set them apart from the more traditional funds you may be using already.
Digital IRAs Are Self-Directed
While self-directed IRAs are still unfamiliar to many Americans and therefore not widely used, they can be summed up in a simple phrase: “You choose your assets, you purchase them, and you manage them.” You are in charge, rather than a brokerage or a financial institution, giving you control – and responsibility – over your investments
Digital IRAs Let You Diversify Your Assets
You might think a Digital IRA would only let you invest in cryptocurrency assets, but that’s not the case. In fact, due to the self-directed structure of this kind of IRA, you can also invest in more conventional assets (e.g., the stock market and mutual funds) on top of cryptocurrency.
Digital IRAs with Bitcoin Retirement Solutions Make the Process Easy
At Bitcoin Retirement Solutions, we work with you to help you get started the smart way with your new self-directed IRA. Additionally, while you have full control of your investing, you’re working with our trusted partners. These include leading stock exchanges, along with the Preferred Trust Company, an IRA custodian.
Our partnerships mean that you are covered for the administrative services on your self-directed account as required by law and can trade with peace of mind.
Digital IRAs Give You More Investment Options
When the IRS released Notice 2014-21, it laid down the taxation rule that cryptocurrencies were to be treated as personal property. This is what opened cryptocurrencies to the Digital IRA marketplace.
As a self-directed IRA in which you accept the responsibility of your investment choices, the IRS permits holders the authority to invest over a wider range of assets, many of which cannot be used in a conventional IRA. In short, a Digital IRA gives you more flexibility when investing in your assets.