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Over the past decade, crypto has transitioned from a niche product to a major asset in the financial world. Bitcoin’s ascent to new all-time highs and the introduction of Spot Bitcoin ETFs on Wall Street are clear signs of crypto’s move to mainstream acceptance.
This year, a new trend has emerged in the way crypto is purchased and sold, moving away from crypto exchanges. A growing number of investors are integrating digital assets into their retirement planning, signifying a shift in investment strategies. Enter the Crypto IRA.
What Are Crypto IRAs?
Crypto IRAs are financial accounts that allow investors to buy and sell crypto within individual retirement accounts.
A key benefit of crypto IRAs lies in their tax benefits to investors.
Two of the most common types of Crypto IRAs are Traditional and Roth. With a traditional IRA, pre-tax dollars are added to an account where they grow tax-deferred, lowering an individual’s taxable income. This setup postpones taxes on any gains until the funds are withdrawn, usually at retirement. With a Roth IRA, contributions are made with post-tax dollars, paving the way for tax-free withdrawals during retirement.
The Features of Crypto IRAs
Crypto IRAs offer a level of flexibility not seen in traditional investment accounts, with the ability to buy and sell digital assets 24/7 365. Compared to the stock market, investors have more freedom to respond instantly to market changes, capitalize on opportunities after hours, and adjust their investments according to their timetable.
Additionally, incorporating crypto into a regulated retirement savings plan presents a secure approach to investing in digital assets. Crypto IRAs require the use of a regulated, third-party chartered trust to safeguard client assets, ensuring these are separate from the company’s operating funds. It is a notable advantage over direct exchange transactions, where such protective measures may be absent, and assets could be commingled with the company’s funds, positioning crypto IRAs as a safer, more structured choice for investing in cryptocurrencies.
iTrustCapital: Leading the Crypto IRA Revolution
The trend towards integrating cryptocurrencies into retirement planning is growing every day. This shift is motivated by the potential for high returns combined with the significant tax benefits of an IRA. Recognized for its excellence in the field, iTrustCapital has been awarded the “Best Crypto IRA Investment Platform”* in the United States. With its focus on low fees, a wide array of investment options, and exceptional client service, iTrustCapital is at the forefront of encouraging the adoption of crypto IRAs, marking a significant step forward in merging traditional finance with the digital age.
* IMA Impact 2021 Awards
This article is for information purposes only and is not intended to constitute investment advice in any way or constitute an offer to buy or sell any cryptocurrency or security or to participate in any investment strategy.
iTrustCapital is a cryptocurrency IRA software platform. It is not an exchange, funding portal, custodian, trust company, licensed broker, dealer, broker-dealer, investment advisor, investment manager, or adviser in the United States or elsewhere. iTrustCapital is not affiliated with and does not endorse any particular cryptocurrency, precious metal, or investment strategy.
Cryptocurrencies are a speculative investment with a risk of loss. Precious metals are a speculative investment with a risk of loss. Cryptocurrency is not legal tender backed by the United States government or subject to Federal Deposit Insurance Corporation (“FDIC”) insurance or protections. Clients do not receive a choice of custody partner. The IRS or any regulatory agency has not endorsed the self-directed purchase and sale of cryptocurrency through a cryptocurrency IRA. Historical performance is no guarantee of future results.
Some taxes and conditions may apply depending on the type of IRA account. Investors assume the risk of all purchase and sale decisions. iTrustCapital makes no guarantee or representation regarding investors’ ability to profit from any transaction or the tax implications of any transaction. iTrustCapital does not provide legal, investment, or tax advice. Consult a qualified legal, investment, or tax professional.
iTrustCapital makes no representation or warranty as to the accuracy or completeness of this information and does not have any liability for any representations (expressed or implied) or omissions from the information contained herein. iTrustCapital disclaims any and all liability to any party for any direct, indirect, implied, punitive, special, incidental, or other consequential damages arising directly or indirectly from any use of this information, which is provided as is, without warranties.
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Sam Chess is an utterly focused person looking for the minute details having potential to make a big difference. He is a writer and proofreader with a zeal to understand the cryptocurrency market. Additionally, he can be found trying to figure out the biggest mystery in the industry, Satoshi Nakamoto.
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