There is another way that might be easier. Companies like Broad Financial can help you set up an IRA LLC that is wholly owned by your Roth IRA, and which you manage. These are often used to invest in real estate, but you can own bitcoins in them, too.
You don't have to be an accredited investor, and you don't have to let someone else secure your bitcoins. As the manager of the LLC, you're responsible for securing the private keys yourself.
See details at https://bitcointalksearch.org/topic/how-and-why-to-hold-bitcoins-in-your-roth-ira-yes-you-can-do-it-today-396783.
Topic: Second Market BIT: bitcoin rich but struggling to become accedited investor (Read 756 times)
January 08, 2014, 11:19:09 PM
January 06, 2014, 07:46:20 AM
You can't just sign a message with your bitcoin addresses? How anachronistic. Churn is going to have costs both in taxable events and transaction fees. Plus the risk that an exchange will go under while your funds are there. Finally there's the historical 0.69% daily increase in price you miss out on for every day you hold the cash.
January 06, 2014, 07:42:35 AM
I'm looking for any other investors/speculators looking to do roth transfers into bitcoin investment trust, who have lots of bitcoin assets but are held up trying to get the accredited investor status ($1 million as shown in bank/broker statement balances). Send me a private mail to do short-term swaps between us: bitcoin for USD.
I am loathe to sell bitcoin right now, wire it all the way back to the US then wire it back out again the way bitcoin is going up. Instead we can select someone in bitcoin community with good reputation to serve as escrow agent, and do short-term USD swaps between us between US banks without needing to buy/sell actual bitcoin. Performing domestic wire transfers should be quicker/more predictable as well.
Volitility of bitcoin should be manageable by doing 2:1 ratio of bitcoin to fiat money, only for a week or two.
looking forward to hearing from other Roth IRA bitcoin investors
I am loathe to sell bitcoin right now, wire it all the way back to the US then wire it back out again the way bitcoin is going up. Instead we can select someone in bitcoin community with good reputation to serve as escrow agent, and do short-term USD swaps between us between US banks without needing to buy/sell actual bitcoin. Performing domestic wire transfers should be quicker/more predictable as well.
Volitility of bitcoin should be manageable by doing 2:1 ratio of bitcoin to fiat money, only for a week or two.
looking forward to hearing from other Roth IRA bitcoin investors
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