Invest in Your Own Bitcoin IRA

 In Investment News

If you’re thinking about holding Bitcoin in your IRA, that’s not a bad move, as major investors see Bitcoin’s value going into the range of $10,000 by the end of the year. The question is how? Well, there’s one site that makes this process accessible, and it has actually been approved by the IRS. That site would be

Holding Bitcoin in an IRA Has Been Fraught with Difficulties Until Recently

The IRS and the courts held that Bitcoin was technically a commodity under the law, and since then it’s been considered property by the IRS for tax purposes. The major issue was trying to find a custodian that would accept Bitcoin or understand what to do with it. But using a self-directed IRA allows you to circumvent that problem.

Bitcoin IRA is headed by former US Mint director Edmund Moy. While they do charge a fee, it’s the only time you’ll have to pay them, and with speculators high on the future of Bitcoin, it could be a lucrative investment for those that are a little more adventurous. The upside of paying the fee is that the expert advice of Bitcoin IRA will help you make smart decisions and understand the process more thoroughly. As a non-conventional asset, Bitcoin is in kind of a gray area. While IRAs are typically a great place to hold investments, there are some assets that are not allowed in an IRA. While Bitcoin isn’t one of them, it’s still a very new technology, so a service like Bitcoin IRA is necessary for interested investors.

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