{"id":20093,"date":"2018-07-05T08:38:00","date_gmt":"2018-07-05T12:38:00","guid":{"rendered":"http:\/\/www.escapeartist.com\/?p=20093"},"modified":"2020-09-02T04:00:35","modified_gmt":"2020-09-02T08:00:35","slug":"improve-your-retirement-accounts-with-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/www.escapeartist.com\/blog\/improve-your-retirement-accounts-with-cryptocurrencies\/","title":{"rendered":"Improve Your Retirement Accounts with Cryptocurrencies"},"content":{"rendered":"

In this article, we\u2019ll look at how to improve your retirement accounts with cryptocurrencies. If you want to jump start your IRA or by cryptos tax free, here\u2019s what you need to know. <\/span><\/p>\n

Unless you\u2019ve been living on a cave for the past five years, you\u2019ve missed out on the massive impact that cryptocurrencies have had on the economic market. Cryptocurrencies have started to enter every stage of our lives and it looks like they\u2019re there to stay. Now they are moving into the mainstream and into our retirement accounts.<\/span><\/p>\n

People are taking advantage of the transparency and the practically that cryptocurrencies, especially Bitcoin, come with. So it was no surprise to know that many people are starting to link their individual retirement accounts with their cryptocurrencies. <\/span><\/p>\n

And this is even more of an issue for Millennials. IRAs and retirement accounts are not that important to the younger generation. They\u2019re not concerned with the importance of saving for the future. However, when presented with the ability to trade cryptocurrencies tax free, a retirement account becomes much more interesting. <\/span><\/p>\n

This is why, in many ways, cryptocurrency and a retirement account is the perfect marriage of modern technology and old school money saving. Investing tax free is something that everyone can get behind!<\/span><\/p>\n

Let\u2019s look how explaining how this merger of cryptocurrencies and Individual Retirement Accounts work. <\/span><\/p>\n

Opening an IRA account and partnering it with your Cryptocurrencies and wallet sounds difficult… it\u2019s not. Dealing with any matter that involves your retirement can be hard and complicated, but if you follow the correct steps and are patient you will find that having a Digital Retirement Account can be a money and time saver. <\/span><\/p>\n

The first question that you probably have is what happens with your pre existing IRA account if you wish to open a new one. Don\u2019t worry, when opening a crypto IRA you can always keep all of your previous funds. \u00a0<\/span><\/p>\n

You have the option to merge both of your physical currency and your digital currency or you can have to separate accounts for both of them. The process of doing this is usually easy and in most cases they will be no charge whatsoever. <\/span><\/p>\n

Digital Individual Retirement Accounts work the same as traditional Self Directed IRA\u2019s in that you are responsible over the \u201cfunds\u201d in your account but a qualified professional must be appointed as the administrator of your account.<\/span><\/p>\n

It is important to establish a good and professional relationship with your IRA custodian because he will be in charge of guiding you through this process. The cryptocurrency field is constantly changing and the legal guidelines that regulate it are constantly changing so it absolutely essential to get good guidance in the matter. <\/span><\/p>\n

The first step in beginning the merger process is selecting the correct company with the best professionals in the field of IRA and crypto. You have to be careful in doing this as the sector is fairly new and there are many companies who wish to scam you. No need to start Googling – we\u2019ll be happy to connect you with experts with whom we\u2019ve worked for years. <\/span><\/p>\n

The second thing you\u2019ll have to do is rollover or transfer your current retirement assets into your new chosen account. If you do this as a transfer, without ever taking money out of the account, you will avoid most fees and all complexity from moving the account.<\/span><\/p>\n

The process of buying and selling digital currencies inside your retirement account account is the same as buying any other asset. Set up a wallet on a trusted exchange in the name of your IRA and trade the account.<\/span><\/p>\n

If you don\u2019t want to trade the account, you should speak with your custodian. They might have an option where they buy for you using your IRA funds. <\/span><\/p>\n

If you want to actively trade your account, and you want to hold your cryptos outside of the United States, you might form an offshore IRA LLC rather than a self directed account. For more information, see: <\/strong><\/span>\u00a0How to setup an offshore digital IRA <\/a><\/strong><\/p>\n

As you can see, the process to set up a self directed retirement account to invest in cryptocurrencies is not that complicated. Only the transfer or rollover to a custodian that allows for this type of investment is necessary. <\/span><\/p>\n

We generally recommend the self directed account option for those who will buy and hold. The offshore IRA LLC option is best suited to those who will actively trade their accounts and to those who want to move their retirement account out of the United States. <\/span><\/p>\n

The cost to transfer to a self directed custodian is minimal. The cost to setup an offshore IRA LLC is about $3,500. <\/span><\/p>\n

I hope you\u2019ve found this article on investing your retirement account in cryptocurrency to be helpful. For more information, or for assistance forming an offshore IRA LLC or connecting with a qualified custodian,\u00a0please contact us HERE.<\/a><\/strong><\/p>\n

I’ve also included some really great articles that I know you will love!<\/strong><\/p>\n

International Self Directed IRA<\/a><\/strong><\/p>\n

The Ultimate Guide To Going Offshore<\/a><\/strong><\/p>\n

Where to Start Operating your ICO from?<\/a><\/strong><\/p>\n

Offshore Banking: A Guide to Asset Protection Strategies – Part 6<\/a><\/strong><\/p>\n

What is an Offshore Checkbook IRA LLC?<\/a><\/strong><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

In this article, we\u2019ll look at how to improve your retirement accounts with cryptocurrencies. If you want to jump start your IRA or by cryptos tax free, here\u2019s what you need to know. Unless you\u2019ve been living on a cave for the past five years, you\u2019ve missed out on the massive impact that cryptocurrencies have […]<\/p>\n","protected":false},"author":686,"featured_media":10568,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","om_disable_all_campaigns":false,"footnotes":"","_jetpack_memberships_contains_paid_content":false},"categories":[],"tags":[26845,26854,26853],"yst_prominent_words":[1724,24247,3132,4552,24244,24243,2810,3122,10027,8592,8583,1719,3023,3124,24245,4213,15610,4620,6075,24246],"acf":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.escapeartist.com\/wp-content\/uploads\/2017\/03\/retirement-can-be-awesome.jpg","_links":{"self":[{"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/posts\/20093"}],"collection":[{"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/users\/686"}],"replies":[{"embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/comments?post=20093"}],"version-history":[{"count":8,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/posts\/20093\/revisions"}],"predecessor-version":[{"id":40463,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/posts\/20093\/revisions\/40463"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/media\/10568"}],"wp:attachment":[{"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/media?parent=20093"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/categories?post=20093"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/tags?post=20093"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/yst_prominent_words?post=20093"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}