With the phenomenal rise of Bitcoin’s value and prospects of even further increase, who would want to pass up the opportunity to invest in the cryptocurrency?
Apparently, not many people want to be left behind, which perhaps explains the huge numbers of investors rushing to include Bitcoin in their IRAs. But before you get swept by the wave, you want to learn why you are better off partnering with a company like Viva Capital when including Bitcoin in your IRA instead of going it alone.
So, let us look at four good reasons why that move makes perfect sense:
1. You Can Convert Large Amounts Of Crypto Into Cash And Vice Versa
Partnering with a company when investing in Bitcoin in your IRA allows you to enjoy the convenience of easily converting significant amounts of crypto to fiat and vice versa. Such companies have massive crypto and cash reserves, making it easy for them to swap your Bitcoin for cash and vice versa. This way, they help you avoid the hassle of converting Bitcoin, especially huge chunks of it to fiat. And if you want to buy a lot of Bitcoin too, these companies make it easier for you.
2. You Can Access Estate Planning For Crypto
Will your Bitcoin be accessible to your loved ones if something happens to you? Unfortunately, even if the people close to you knew you had Bitcoin in an IRA and even where you stored your password, that is barely enough to grant them access to it.
Luckily, when you partner with a company when investing Bitcoin in your IRA, you can draw up an excellent estate plan that keeps your loved ones from enduring a long, costly, and legally intensive probate process to access your Bitcoin holdings.
3. You Access Reliable Crypto Custody
Crypto custody is simply safeguarding the private keys that prove you own the Bitcoin held within your crypto wallet. In conventional banking, all custodians are banks or financial organizations, as the law requires. With crypto, however, holders become their own custodians.
So, if you are unsure of your ability to keep your Bitcoin passwords safe, you can partner with a reputable company. They will take charge of administering the Bitcoin wallet linked to your account.
4. You Can Minimize Risks And Taxes
Cybercriminals managed to steal billions worth of cryptocurrency in 2021. As you can see, that figure is quite huge and is enough to give any crypto investor sleepless nights. One of the ways you can beef up security for your Bitcoin holdings is by partnering with a company when investing in Bitcoin. These companies are known to employ industry-grade, top-tier security features that ensure your Bitcoin is safe from the relentless crypto thieves springing up each passing day.
Moreover, partnering with a company allows you to take advantage of capital gains tax savings for including digital currencies in an IRA.
Need help managing bitcoin in an IRA? Find a reliable management company to partner with!
If you are interested in including Bitcoin in your IRA, you need to partner with a Bitcoin IRA management company to enjoy these and more benefits. For the best experience, be sure to research a company before entrusting them with your money. With that, you are now ready to start your journey of saving for retirement with Bitcoin.
