Bitcoin IRA is a firm that works as a hub to connect investors, exchanges, digital wallets, and IRA custodians. Bitcoin IRA does not directly provide any of these services. However, they do facilitate the setup and transfer of funds to Kingdom Trust IRA accounts.
But, how does Bitcoin IRA work?
Bitcoin IRA is a Los Angeles based platform that allows you to buy and sell crypto in your IRA. They store your crypto with Bitgo, a popular institutional grade crypto custody service. Within your client dashboard, you can buy, sell, and swap cryptocurrencies 24/7.
In any case, can I buy Bitcoin in my Roth IRA? With a Roth IRA, investors can buy bitcoins with post-tax dollars and avoid paying any taxes on their gains when they cash out. As with any IRA, however, investors can only withdraw disbursements without suffering penalties after age 59 ½.
Never mind, can I use my 401k to buy Bitcoin?
In as little as a few days from now, you can convert your 401(k) savings to buy bitcoin. But most 401(k) programs don't allow the direct purchase of digital currency. So the easiest and quickest way to get the benefits we've listed above is to use a self-directed Digital IRA. “Self-directed” means you're in charge.
Can Bitcoin be held in an IRA?
The process to add Bitcoins to your self-directed IRA is simple and fast. It involves opening a self-directed IRA through a secure e-sign application; then the new account is funded via a rollover or transfer. Finally, the investor needs to complete a Bitcoin allocation order.