Escape Artist
  • Features
    • Interviews
    • News
    • Field Notes
    • Trending
  • Your Escape Plan
    • Finance
    • Real Estate
    • Second Citizenship
    • Digital Nomadism
    • Events
  • Destinations
    • Europe
      • France
      • Germany
      • Italy
      • Portugal
      • Scandinavia
      • Spain
      • UK
      • Rest of Europe
    • Central America
      • Belize
      • Costa Rica
      • El Salvador
      • Guatemala
      • Honduras
      • Nicaragua
      • Panama
    • Others
      • Africa
      • Asia
      • Australia
      • North America
      • South America
  • Travel Tips
    • Know Before You Go
    • Packing List
    • Food + Culture
    • Health + Wellness
  • Subscribe
Escape Artist
  • Features
    • Interviews
    • News
    • Field Notes
    • Trending
  • Your Escape Plan
    • Finance
    • Real Estate
    • Second Citizenship
    • Digital Nomadism
    • Events
  • Destinations
    • Europe
      • France
      • Germany
      • Italy
      • Portugal
      • Scandinavia
      • Spain
      • UK
      • Rest of Europe
    • Central America
      • Belize
      • Costa Rica
      • El Salvador
      • Guatemala
      • Honduras
      • Nicaragua
      • Panama
    • Others
      • Africa
      • Asia
      • Australia
      • North America
      • South America
  • Travel Tips
    • Know Before You Go
    • Packing List
    • Food + Culture
    • Health + Wellness
  • Subscribe
👤

LIFE WITHOUT BOUNDARIES

THE NUMBER ONE SOURCE FOR EXPATS, DIGITAL NOMADS, AND DREAMERS.

This field is for validation purposes and should be left unchanged.
  • Finance

How to Buy Bitcoin with Your IRA

  • September 30, 2017
  • BY staffwriter
Total
0
Shares
0
0
0

Are you considering investing your IRA in Bitcoin? Do you need a quick bump in your retirement account and think you’re ready to invest in cryptocurrency or ICOs? Here’s to buy Bitcoin with your IRA or any other crypto transaction.

First, note that we do not sell Bitcoin or cryptocurrency. We are in the business of forming offshore structures, including offshore IRA LLCs. We make money setting up your structure, not on the transaction and don’t earn a commission on your crypto transactions.

Now, let’s get to buying Bitcoin in your retirement account:

Because US custodians won’t allow you to buy Bitcoin with your IRA, you first must move your savings into an offshore wallet. And the only way to get your IRA offshore is by setting up an offshore IRA LLC.

I should point out that buying Bitcoin with your IRA is very risky. Only those who have done their homework and truly understand the coin market should bet their retirement accounts.

Once you take your IRA offshore, you’re in total control. You make the investments. You write the checks. You decide when to buy and sell. There’s no one to tell you what to do. You’re out there on your own controlling the investments of your portfolio. If you make money, great. If you lose, there’s no one to blame.

So, if you’re confident in your ability to manage your account, here’s how to buy Bitcoin with your IRA.

  • Form an Offshore IRA LLC.
  • You’re set up as the manager of the LLC,
  • Open an offshore bank account for that LLC (you’re signor on the bank account),
  • Move your IRA from your current custodian to one that allows for international investments,
  • Your custodian invests your IRA into the newly formed Offshore IRA LLC’
  • Move some or all of your IRA money into a cryptocurrency wallet, and
  • Buy Bitcoin, cryptocurrency, tokens, or invest in ICOs using your IRA cash.

As I said above, the only way to buy Bitcoin with your IRA is by moving your cash into an offshore wallet. The only way to get your IRA into an offshore wallet is by first setting up an offshore IRA LLC.

This international Limited Liability company should be in an “offshore” jurisdiction. This is a country that won’t tax the profits of the LLC. It should also be one that provides maximum asset protection and privacy.

And the offshore company must be formed in a jurisdiction that allows for single member LLCs. The only member of your LLC will be your IRA account. So, the “member” or “owner” of the LLC is your retirement account. The ownership line of the company would read something like: Midland IRA, Inc. FBO John Smith Account #55-555555555.

In this example, you’re John Smith and Midland IRA is your US custodian. The owner of the LLC is the account, which is held at Midland IRA.

Next, you are installed as the manager of the LLC. You are the signor on the bank and wallet accounts. You’re the one who decides what to do with the money once it’s in the LLC. You’re the professional investment advisor responsible for managing the assets of the LLC for the benefit of the owner, your IRA account.

I listed the 4th step as moving your account to a US custodian that allows for this type of transaction (investing in an offshore LLC, not buying Bitcoin with your IRA). This is because most custodians don’t allow you to invest abroad. They limit you to the products they sell… very conservative funds that pay them the best commissions.

Only 5 or 6 US custodians allow you to invest offshore. They usually charge a flat rate of $650 per year per account to remain as your custodians and file annual statements with the IRS.

So, you likely need to move your IRA from your current custodian to one that allows for offshore investments. And, yes you must always have a US custodian for your US IRA. US tax law requires you have a US custodian, even if 100% of your account is invested abroad.

Once the cash is at a willing custodian, that agent makes one and only one investment. He invests your retirement account into the LLC we created for you. This is the only transaction the custodian is involved in and the only transaction reported on your IRS forms.Consumer Resource Guide

Once the cash is in the LLC, you manage it as you see fit. You can buy real estate, cryptocurrency, Bitcoin, or invest in ICOs. All gains and losses will flow back into your retirement account tax free (ROTH) or tax deferred (traditional IRA).

Of course, you must follow all the US rules. You can’t borrow from the account, can’t buy life insurance or artwork, can’t buy real estate and live in it (rentals are fine), etc. The most important rule is to treat the account as a professional advisor would or should.

This is to say, you must manage the account in the best interest of the retirement account, and you should stay within the lines. We can review these rules with you in more detail once the structure is create.

I hope you’ve found this article on how to buy Bitcoin in your IRA to be helpful. For more information, please contact me at info@premieroffshore.com or call us at (619) 550-2743. All consultations are free and confidential. We’ve been helping clients move their retirement savings offshore since 2000 and will be happy to work with you.

If you’re considering traveling or moving abroad, be sure to explore your healthcare options. Visit International Citizens Insurance to learn more and get a free quote.

Total
0
Shares
Share 0
Tweet 0
Pin it 0
Previous Article
  • Your Escape Plan

Colombia

  • August 12, 2017
  • BY EA Editors
View Post
Next Article
  • North America

Information on Mexico Real Estate to Live, Retire, Work, or Invest

  • November 22, 2017
  • BY David Pierce CCIM
View Post
You May Also Like
Low-Tax Countries to Save Money in 2025
View Post
  • Plan B
Where Expats Are Moving to Keep More of Their Money
  • BY EA Editorial Staff
  • August 27, 2025
Belize Offshore Banking
View Post
  • Plan B
Why Belize’s Waters Run Deep in Offshore Banking
  • BY Luigi Wewege
  • August 20, 2025
International Banking Structures
View Post
  • Plan B
Tax-Friendly Banking Solutions for International Investors
  • BY EA Editorial Staff
  • August 13, 2025
View Post
  • Interviews
Meet the Legal Strategist Guiding Portugal’s New Wave of Expats
  • BY Isha Sesay
  • July 19, 2025
Reduce Your Taxes by Moving Abroad
View Post
  • Plan B
Legally Reduce Your Taxes by Moving Abroad
  • BY EA Editorial Staff
  • July 16, 2025
best place to retire
View Post
  • Plan B
Retiring Abroad: Where Can You Actually Afford to Live?
  • BY EA Editorial Staff
  • June 18, 2025
Not all retirements are created equal—especially when taxes are involved.
View Post
  • Plan B
How to Retire Tax-Free Abroad
  • BY EA Editorial Staff
  • April 23, 2025
Investors diversify globally to protect their future.
View Post
  • Plan B
Why Every Investor Needs a Plan B Abroad
  • BY EA Editorial Staff
  • April 3, 2025
Trending Posts
  • Moving to Morocco: a palette of Tradition, Texture of Tradition 1
    • Morocco
    Top 10 Things to Know if You’re Moving to Morocco
    • August 18, 2025
  • Croatias Tourism: Aerial view of Croatia’s stunning Adriatic coastline, where historic towns meet turquoise waters 2
    • Croatia
    Croatia’s Journey to Wonder
    • August 22, 2025
  • Albania Travel Guide: City views in Tirana, Albania on a summer afternoon 3
    • Albania
    Albania’s Bold New Beat
    • August 15, 2025
  • Belize Offshore Banking 4
    • Plan B
    Why Belize’s Waters Run Deep in Offshore Banking
    • August 20, 2025
  • The search for a second passport has shifted from luxury to necessity for many Americans 5
    • Second Residency
    America’s Second Passport Fever
    • August 25, 2025
Subscribe
Know Before You Go
  • Croatias Tourism: Aerial view of Croatia’s stunning Adriatic coastline, where historic towns meet turquoise waters 1
    • Croatia
    Croatia’s Journey to Wonder
    • August 22, 2025
  • Moving to Morocco: a palette of Tradition, Texture of Tradition 2
    • Morocco
    Top 10 Things to Know if You’re Moving to Morocco
    • August 18, 2025
  • Albania Travel Guide: City views in Tirana, Albania on a summer afternoon 3
    • Albania
    Albania’s Bold New Beat
    • August 15, 2025
  • Luxury Travel Experiences with Christina Tan 4
    • Interviews
    Inside the World of Luxury Travel with Christina Tan
    • August 11, 2025
  • Friendly locals and relaxed daily life in The Gambia 5
    • Africa
    Could The Gambia Become Africa’s Next Digital Nomad Safari?
    • August 8, 2025
Learn More
  • About Us
  • Contact Us
  • Subscribe
Why Subscribe

The newly imagined Escape Artist brings you fresh content with a global focus, and sharp, up-to-the-minute coverage of the joys, challenges, and opportunities of life abroad.

For a limited time, we’re offering a special discount on all subscription deals, so be sure to lock-in these incredible savings and start receiving top-notch travel and expat content today!

Sign up for the EA Newsletter

Get important news delivered directly to your inbox and stay connected!

This field is for validation purposes and should be left unchanged.
Escape Artist
  • Terms & Conditions
  • Privacy Policy
  • Cookies Policy
  • Disclaimer

Input your search keywords and press Enter.

Newsletter Subscription
Our Spring Sale Has Started

You can see how this popup was set up in our step-by-step guide: https://wppopupmaker.com/guides/auto-opening-announcement-popups/