Investment retirement accounts are ideal for those looking to make long-term investments. There are clear tax advantages to purchasing investments through a retirement account, and certain IRAs can now purchase digital assets. Bitcoin may be one of the best long-term investments one can make, with institutions buying it and countries considering making it legal cash.
Cryptocurrency is still a relatively new asset class, and until 2014, it was not an acceptable investment asset for retirement funds. The IRS then issued Notice 2014-21, which classified cryptocurrency as property for tax purposes. Due to this lag, an institutional-level drive to supply traditional financial products (such as retirement and savings accounts) to digital currency investors is still required.
BitIRA, fortunately, is ahead of the game. It has almost a century of experience and specializes in alternative investing in IRAs. Its purpose is to make IRAs more accessible. It also aims to help people finance their IRAs with bitcoin and other assets
What exactly is BitIRA?
BitIRA enables people to set up a digital currency IRA for cryptocurrency trading. It was created in 2017 and is headquartered in Burbank, California. A Traditional, SEP, Roth or SIMPLE IRA can be used. People can also use any retirement account that is suitable for IRA rollover.
Their retirement account most likely limits their investment options to equities and bonds. However, BitIRA allows people to trade…
