CosmosUPS has released a guide covering the basics of starting a self-directed crypto IRA with a review of popular exchanges and brokers.
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In a new guide from CosmosUPS, beginner investors can learn about how to diversify their retirement portfolio by investing in cryptocurrency with a self-directed IRA. The guide explains what to think about when deciding on investing with a broker or through exchanges and which ones are the best depending on individual preferences.
For more information, please visit: https://cosmosups.com/top-crypto-and-bitcoin-ira-complete-analysis-of-the-best-exchanges-and-brokers/
Cryptocurrency is still considered a volatile asset, but those who have expendable cash and are looking for alternative side investments could find Bitcoin and other currencies a fun and potentially profitable way to save for retirement. CosmosUPS brings useful advice to those new to crypto, helping them make informed decisions.
As explained by Bankrate, cryptocurrency emerged as a response to the Great Recession, and skepticism about central banks grew. Starting off as a very niche asset, crypto has, in the past decade, become popular among the wider population, with 17% of Americans having owned cryptocurrency as of 2023. The largest age group of crypto holders in 2021 was millennials born between 1981 and 1996.
Crypto IRAs come with the benefit of allowing investors to invest in currencies like Bitcoin without paying tax on gains until withdrawal. However, downsides include not being able to utilize tax incentives for retirement savings and capital gain taxes in case of early withdrawal.
“A cryptocurrency IRA lets you diversify your portfolio and avoid paying capital gains taxes. You can invest in various currencies based on which suits your needs best,” a company spokesperson said.
CosmosUPS has listed brokers and exchanges like CoinIRA, iTrustCapital, BlockMint, and Coinbase. The online resource has ranked them based on a survey where readers were asked what they prioritize when choosing an IRA provider. A majority said that fees was the most important factor, and 40% favored customer support.
With this in mind, CosmosUPS rated Bitcoin IRA as the best provider. However, BlockMint ranked as the best provider for beginners.
In addition to self-directed IRAs, it’s also possible to invest in cryptocurrency through a 401(k), 403(b), 457(b), SIMPLE IRA, SEP IRA, or traditional IRA, CosmosUPS explains. However, it’s not possible to invest directly in digital currencies with a Roth IRA.
Those interested can learn more at: https://cosmosups.com/top-crypto-and-bitcoin-ira-complete-analysis-of-the-best-exchanges-and-brokers/
Contact Info:
Name: Peter White
Email: Send Email
Organization: CosmosUPS
Address: 2340 East Main Street, Cushing, Oklahoma 74023, United States
Website: https://cosmosups.com
Source: PressCable
Release ID: 89147993
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