Bitcoin, CryptoCurrencies and 401K Retirement Accounts.
OK, this is ONE MAN’s OPINION and should be weighed in that vein!
In other words, this is NOT legal advice. Simple a point of view some experts suggest for “investing” your 401K money into crypto currencies.
2nd caveat: Only “invest” 401K money you are willing to lose. 1% to maybe 5% of your wealth!
You may hit a home run with your 401K crypto investments or you may get wiped out!
There are many SERIOUSLY SMART people entering the world of cryptocurrency and the blockchain space! Can they all be wrong? I don’t think so.
Considering all the brain power and talent entering the crypto currency world, I’m willing to risk a small amount of my 401K portfolio to score big time. And of course, if I lose this tiny portion of my wealth, I’ll still be able to sleep at night.
Now, continuing on our 401K crypto currency portfolio investing…
When you invest in cryptos such as Bitcoin in a retirement account, you can ignore the tax issues. The IRS claims that Bitcoin is an asset so every crypto transaction can be taxed in their eyes. This has opened the door to buy crypto currencies such as Bitcoin (BTC), Litecoin LTC), Ethereum (ETH)… within your 401K retirement account.
Additionally, Bitcoin categorized as an asset means that you can buy it offshore and in an offshore IRA LLC. You can set up an international asset protection structure, and use leverage abroad if you have a UBIT Blocker, and invest your retirement savings in crypto currency.
Regarding specific crypto 401K investing, I prefer to take a conservative approach; IF THAT’S POSSIBLE 🙂
Stick with the more traditional assets. I’m thinking Bitcoin, Ethereum, Litecoin to begin your journey. After figuring out how to use Coinbase to get started, you can get more aggressive and add the next coin added to the Coinbase exchange.
After all, your 401K is a “Retirement Account,” right?
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