6. Bitcoin IRAs Chance
For investors who believe in the crypto’s future, but who want some tax savings along with their profits, Bitcoin IRAs can offer an opportunity. Plus, the ease of dealing with an account of a familiar type.
But when compared to other IRAs, there can be higher fees and account minimums, so determine if the trade-off is appropriate for you. Bear in mind that there are other ways to hold bitcoin, in regular accounts on crypto trading platforms like Coinbase and Binance US.
If you decide to open a Bitcoin IRA, carefully choose a guardian. And just commit the amount you can afford to lose to bitcoin, and think long term. Says Bogner: “Twenty years later, hopefully, it’s worth more than what you put in.”