Hello I have an IRA and the thing is I must wait to pull it out or else I will get fees. So instead of pulling it out, how do I just convert it into a Bitcoin IRA?
Also, I dont want any bitcoin, just bitcoin cash and ethereum. I have only about $2000 in my IRA.
Also, I dont want any bitcoin, just bitcoin cash and ethereum. I have only about $2000 in my IRA.
How about yo get your bitcoin's yourself and hold your private keys yourself? if you want bitcoin cash and ethereum, then get the wallets and store the keys yourself, that's the whole point of crypto.
I dont think you can add cryptos in an IRA in the traditional sense anyway.
Well I'm not allowed to convert my IRAs into cash or else I get penalties. When I bought these IRA's it was a stupid decision and I was peer pressured into it, honestly I should have just put my money into gold or bitcoin and I would be very rich today. But we can't change the past, only hope for a better future, so I am wondering how do I simply ask them to put my IRA's as a Bitcoin (Bitcoin Cash) IRA.
Im not sure you are going to be able to convert your IRA's into Bitcoin Cash or any other cryptocurrency, governments or banks do not work with cryptocurrencies at any level, in fact if you try to cash it will be a nightmare where you have to report every single satoshi and prove the origin of how you obtained them is legal and so on. Crypto and regular banks is not an easy relationship.
Can't you just get the money back of your retirement account and buy any crypto as usual?
No the thing is I've been in poverty my whole life and my parents never knew that much about money, so they peer pressured me many years ago to do an IRA. It was a very stupid decision but my parents never taught me about how to gain wealth so I didn't know any better at the time. I've been able to get some of the money out but the remaining money I can't remove without getting a penalty. But I will look into it more and see what I can do.
