Learn about tax advantages, beginner-friendly platforms, and the best providers for investing in self-directed crypto IRA in CosmosUPS’ 2024 guide!
Are you thinking of ways to diversify your retirement portfolio? Then, a crypto IRA (Individual Retirement Account) might be a fun investment opportunity right up your alley! And as with any retirement fund, the earlier you start, the better.
In CosmosUPS's latest guide on self-directed Bitcoin and crypto IRAs, you'll be introduced to all the important factors to consider when you're a beginner. They'll give you detailed explanations of tax planning aspects, benefits and drawbacks, as well as the best brokers and crypto wallets. Check out the 2024 guide here https://cosmosups.com/top-crypto-and-bitcoin-ira-complete-analysis-of-the-best-exchanges-and-brokers/ and find out which provider is best for you!
Retirement savings isn't the most exciting subject, especially when you're young, and it feels so far away. Maybe that's why the younger generations prefer to spice things up with crypto! Coin Telegraph actually reported that half of all Gen Z and millennials want cryptocurrencies in their retirement funds.
But considering retirement accounts are quite complicated to wrap your head around, particularly when it comes to this relatively new currency, it's clear that there's a need for accessible information regarding these types of accounts. The latest retirement planning guide from CosmosUPS provides you with comprehensive advice in a beginner-friendly manner, equipping you with the facts you need to make informed choices.
The guide explains that a crypto IRA is much like a traditional IRA but offers the choice to invest in cryptocurrencies on top of stocks. The biggest difference that can benefit you is that crypto IRAs don't require income tax on profits until withdrawal, says CosmosUPS. While there's no such thing as a risk-free investment, adding cryptocurrency to your portfolio can make it more resilient to inflation and market turbulence.
You can also find instructions on how to invest in cryptocurrencies, suggesting different options. CosmosUPS has listed accounts like 401(k), 403(b), SIMPLE IRA, and traditional IRA as some of the possible accounts for buying crypto. However, it's likely not possible to do this with a Roth IRA, and there are other drawbacks you should be aware of, like relatively expensive charges.
CosmosUPS's guide also contains a comparison of the different platforms and brokers, covering details like diversity, security, and fees. For example, you'll learn that CosmosUPS has rated the blockchain-based wallet BlockMint as the most beginner-friendly, as well as which provider offers the most flexibility. This will give you a good base for understanding self-directed IRAs and what suits your needs and goals best.
To learn everything you need to start a crypto IRA, check out the full guide at: https://cosmosups.com/top-crypto-and-bitcoin-ira-complete-analysis-of-the-best-exchanges-and-brokers/