With an increasing interest in investing in cryptocurrency for retirement, CosmosUPS has released a new beginner guide on what to consider before starting.
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In the new guide from CosmosUPS, those curios about using a self-directed IRA to invest in crypto can find insights on how to manage risks, tax advantages, and how to get an account set up. The guide also details popular custodians and their benefits depending on individual goals.
Additional details can be found at: https://cosmosups.com/top-crypto-and-bitcoin-ira-complete-analysis-of-the-best-exchanges-and-brokers/
Many who invest in crypto IRAs do it to diversify their retirement portfolios and to spread risks. By providing a detailed beginner guide on the subject, CosmosUPS wants to help its readers assess if it’s a type of retirement saving that suits their interests.
“Crypto IRAs permit investors to invest in cryptocurrencies like Bitcoin without paying tax on gains until they withdraw the funds. But there are downsides to holding cryptocurrency in an IRA,” a spokesperson for the company said.
According to an article from Nasdaq, 23% of Americans who don’t yet own Bitcoin would be open to using the currency as an asset through a 401(k) or IRA in 2024, underlining the growing interest in this type of investment. However, experts advise that investors don’t use cryptocurrency for more than 10% of their total assets and say that the general advice is a maximum of 5% to reduce risks.
As explained by CosmosUPS, a self-directed crypto IRA can be used as a diversification strategy and to spread risks. As cryptocurrency doesn’t get taxed until withdrawal, investors can use it as a method to reduce the risk of heavy taxation. The guide advises readers to be cautious of early withdrawals would they choose to open a self-directed crypto IRA, as this could cause capital gains taxes.
Additionally, readers can find information about popular custodians, with ratings of features like safety, customer service, fees, and beginner-friendliness. For example, CosmosUPS recommends BlockMint for novice investors and ranked Bitcoin IRA as the overall best platform.
CosmosUPS is an online resource for news and updates on cryptocurrencies like Bitcoins and Memecoins, as well as other tech industry subjects like AI and the Metaverse. Readers can find well-researched articles, guides, reviews, and more.
To learn more, please visit: https://cosmosups.com/top-crypto-and-bitcoin-ira-complete-analysis-of-the-best-exchanges-and-brokers/
Contact Info:
Name: Peter White
Email: Send Email
Organization: CosmosUPS
Address: 2340 East Main Street, Cushing, Oklahoma 74023, United States
Website: https://cosmosups.com
Source: PressCable
Release ID: 89126830
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