How to Add Cryptocurrencies to Your Retirement Nest Egg

Regular readers know we’re bullish on cryptocurrencies…

We’ve told you how this new asset class can serve as a chaos hedge in times of financial turmoil.

And we’ve shown you how to buy cryptocurrencies as “equity shares” in the burgeoning blockchain sector.

So we’re not surprised Daily readers are interested in adding these assets to their retirement accounts…

  • Bud J. asked us if you can hold bitcoin in a self-directed individual retirement account (IRA).
  • And Tom P. wants to know if he can put bitcoin in his Roth IRA.

The answer is yes, and we’ll show you how in just a moment…

A Fast-Growing Asset Class

Cryptocurrencies are the fastest-growing asset classes out there.

If you’d invested just $500 in each of the five largest cryptocurrencies at the start of 2016 (a $2,500 total investment), 12 months later you’d have been sitting on $20,757.

That’s a 730% gain… Much better than anything you could have made trading gold, silver, Treasurys, or U.S. dollars (see chart below)…

Chart

With those types of returns, it’s no wonder people want to diversify their nest eggs with some cryptocurrencies.

Today, we’re going to show you a simple way to add bitcoin to your retirement accounts.

But first, let me tell you how IRAs work.

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A Primer on IRAs

IRA stands for individual retirement account. It’s basically a savings account with lots of tax breaks. That makes them ideal for building up a nice nest egg.

To add cryptocurrencies to an IRA, it needs to be self-directed.

The rules for self-directed IRAs are the same as regular IRAs.

But there’s one big difference. A self-directed IRA allows you to invest in assets outside of stocks, bonds, and mutual funds.

So you can add assets like real estate, gold, and even cryptocurrencies.

Whether an IRA is self-directed depends on the custodian administering it. We suggest you talk to a financial specialist to see which kind of IRA is best for you.

If you do choose to add bitcoin to your IRA, we’ve found a company that can assist you…

How It Works

Bitcoin IRA is the first financial services company to help investors add bitcoin to their retirement funds. The company will walk you through the entire process.

They can connect you to the right custodian for your situation.

First, you need to open an account. They’ll show you how to do this.

Next, you’ll need to complete a bitcoin allocation order through the Bitcoin IRA website.

Once the IRA is established with your new custodian, Bitcoin IRA will work with your existing custodian to transfer funds to your new account.

After the IRA is set up, Bitcoin IRA will purchase the bitcoin and help you set up a bitcoin wallet to store it.

Bitcoin IRA also carries a $1 million Lloyd’s of London insurance policy. It protects you from any internal cases of fraud or theft.

Remember, the same rules for traditional IRAs apply to self-directed IRAs. So you can’t access your money until you are 59½. If you do, you’ll face a penalty for early withdrawal.

You can learn more about adding bitcoin (and other cryptocurrencies) to your retirement account on the Bitcoin IRA website.

Regards,

Greg Wilson
Analyst, Palm Beach Confidential

P.S. Tomorrow at 8 p.m. ET, my colleague, Palm Beach Confidential editor Teeka Tiwari, will host a free cryptocurrency Q&A session. You can submit your questions—and register to watch the session—right here. And if you join his service before midnight, you’ll receive $100 in bitcoin.

Meanwhile, we got plenty of viewer feedback from Teeka’s cryptocurrency webinar last Thursday night…

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From Troy L.: I really enjoyed the Palm Beach Confidential webinar. Teeka does a great job introducing and explaining (step by step) the process to set up app coin wallets and purchase his blockchain recommendations.

I have been closely following the blockchain and bitcoin markets with much “amateur” enthusiasm since 2014. I appreciate that your team has devoted time to explore this emerging and growing concept.

From Mary Q.: Dear Mr. Tiwari. I joined your webinar last Thursday evening. I found the information very helpful. I don’t know much about investing. Yet I am at an age when I have nothing saved for retirement. I am a single mother and need to make some money. I have very little to invest but I trust you. Thank you.

From David W.: I love the information you’re providing on cryptocurrencies. I opened a Poloniex account when you recommended doing so. And I bought three of your recommendations. But four of them are not available for purchase on the exchange. Is there another exchange that you are using that supports cryptos?

Also, this is a somewhat complicated process regarding the “buy-up-to price,” which is in U.S. dollars. But most cryptocurrencies can only be bought with bitcoin. It would be great to have the buy-up-to price in bitcoin as well as U.S. dollars. Thanks for your time.

From Fred L.: I’m sorry but that sales pitch for Teeka’s cryptocurrency advice was really bad. I was already sold on cryptocurrency but after that presentation I just couldn’t make myself pull the trigger. One-and-a-half hours of blah, blah, blah.

Teeka, why don’t you give us the name of your new best cryptocurrency idea? OK I’ll give the people two… Well I’ll give them the name of one old one they already know, and I won’t give them the name of the new one by the way. All those people who signed up to The Palm Beach Letter to get Teeka’s cryptocurrency recommendations will now just get the rejects from the Palm Beach Confidential. Sorry.

Nick’s Reply: We don’t consider the cryptocurrency recommendations in our PBL portfolio to be “rejects.” In fact, our four plays are currently up 55.5%, 185.7%, 219.4%, and 456.4%. And right now, they’re all still under their buy-up-to prices. If you are a PBL subscriber, we encourage you to check the portfolio here and read our cryptocurrency reports here.

From Peter A.: I first joined The Palm Beach Letter a year ago based on one of your promotions about cryptos. I bought in around $9 and it’s up to $50… so no complaints. All well and good. I have continued to read extensively about cryptos and the blockchain and feel that I am now more knowledgeable than average.

So, when I signed up for Palm Beach Confidential, I really expected some new, cutting-edge recommendations. Instead, I feel as if I went to the grocery store and bought a bunch of stuff only to get home and find that everything was way past its sell-by date.

I get a weekly review email today touting a new hot pick, but it was nowhere to be found. Only a rehash of the previous week’s emails. I will wait for my first full issue of PBC before I make a decision as to whether to cancel and get a refund. But I just wanted you to know that we have not gotten off to a real good start.

Nick’s Reply: Hi, Peter. Did you know Teeka just released his latest Palm Beach Confidential pick on April 20? It’s an app coin that’s already up 12.2% since he recommended it. And it’s currently under its buy-up-to price. If you’re a PBC subscriber, you have exclusive access to his pick right here.

If you missed Teeka’s webinar, Teeka will be addressing many of your questions during a special Q&A session tomorrow at 8 p.m. ET. He can’t give personalized investment advice, but he’ll answer any general questions you have. You can send your questions and sign up to watch the free event right here.

Meanwhile, cryptocurrencies aren’t the only PBD ideas getting love. There’s still plenty to go around for the Elite 25 portfolio, too…

From John M.: I just love what you all are doing. I read a couple of the suggestions in this Palm Beach Daily about the Elite 25. I wanted to know if you could make a recommendation on which of the Elite 25 would be the best stocks to invest in?

From John F.: Another great article by Nick Rokke on the America First Portfolio (“Trump Takes Off the Gloves in Trade Fight”). Keep it up Nick!

From Margaret K.: Please keep a periodic shortlist of companies with elite-status potential in the Daily. … I am very interested in this. I also would like to say you guys have awesome information with explanations that I can understand very easily!

Nick’s Reply: We update the Elite 25 every month. You can find the latest one right here. We put an equal dollar amount into each position in our portfolio.

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