If you’re keen to diversify your IRA investments, it’s well worth investing Bitcoin in IRA. If you’re unsure of how to go about investing in Bitcoin IRA simply continue reading to discover a simple, step by step guide to investing in Bitcoin IRA. After all, there’s no better time to invest in Bitcoin than the present as in the last few years Bitcoin has soared in price.
How to invest Bitcoin in IRA: A Step by Step Guide
1. Fill out an IRA application form
If you’re looking for the simplest way to invest Bitcoin in an IRA account, your very first step should be to fill out an IRA application form. As an example, if you create an account on an intermediary website such as BitcoinIRA.com, you’ll be able to click straight on a legitimate IRA application form.
2. Decide how you plan to invest funds in Bitcoin IRA
Sites such as BitcoinIRA.com prefer investors to transfer funds to invest Bitcoin from their existing IRA accounts or by transferring money from your 401k retirement fund. If you choose to use funds from your IRA accounts or your 401k retirement fund to invest in Bitcoin, it’s wise to keep the vast majority of your funds in your existing accounts and to invest a small proportion of what you’ve saved in Bitcoin IRA.
After all, no investment, even Bitcoin is 100% safe and it’s unwise to place all of your eggs in one basket. Especially when it comes to your retirement savings!
3. Purchase your Bitcoins via a live trade
Most intermediary websites will get you to set up a phone call so that they can purchase your Bitcoins for you through a live trade. Once your Bitcoins have been successfully purchased, you’ll be able to access your Bitcoins via a secure digital wallet. As unlike traditional currencies, Bitcoins are not stored in a bank account and are instead kept in anonymous digital wallets.
4. Contact your chosen intermediary any time you’d like to invest further funds in Bitcoin
If you decide that you’d like to invest further funds into your Bitcoin IRA account, simply contact your chosen intermediary to organize another live trade. While there are limits on the amount of money which you can spend on Bitcoin IRA in a single year, it’s feasible to conduct multiple live trades per year.
Why is it worth investing in Bitcoin IRA?
All IRA accounts offer significant tax breaks and incentives, so if you’re looking to stretch your investment budget further, it’s well worth purchasing Bitcoin IRA. As well as purchasing traditional Bitcoin, which is not linked to an IRA savings account.
Another advantage of investing in Bitcoin IRA is that there are some penalties involved with selling your Bitcoins before you reach retirement age. So if you’re looking for a method of purchasing Bitcoin, which will make it difficult for you to prematurely sell your Bitcoin stocks, it’s well worth investing in Bitcoin IRA!
So if you dream of living out a comfortable retirement and are looking for a legal way to more than double your retirement savings, it’s well worth purchasing Bitcoin IRA!