Topic: Would you invest your 401k or IRA into Bitcoin? (Read 2261 times)

I tried to use BitcoinIRA.com.  I went through all the paperwork, moved all the money from my T.Rowe ROTH IRA to them and got ready to buy Bitcoins.  All of the sudden they said they would not do business with me because I had traded on LocalBitcoins.com and they have a policy of not doing business with anyone they can show has done business with LocalBitcoins.com.

So I got all my money back.

I then went to Broad Financial and they are great.  I am so glad that BitcoinIRA.com turned me down!!!  Broad Financial is a much better deal:

1) The flat fee at Broad Financial is less than the percent fee I would have paid BitcoinIRA
2) At Bitcoin IRA they hold the private keys to the Bitcoins, with Broad Financial I hold the private keys to my Bitcoins and they have nothing to
do with them!
3) At BitcoinIRA you can only buy Bitcoins and a few other cryptos.  With Broad Financial I can hold ANY crypto, gold, silver, stocks, bonds, pretty much anything allowed by the IRS.
4) With BitcoinIRA you must use their one broker to buy the cryptos.  This is the broker that will not do business with anyone who has ever traded on localbitcoins.com.  With Broad Financial you buy the cryptos (or gold or whatever) using checks in the checking account of your IRA which you have access and control over.

There is no question, Broad Financial is the better plan.

So far I have had experience with Bitcoin IRA and Regal Assets. I would recommend Regal Assets and their Regal Wallet program. They have a unique cloud + cold storage option for big investors, requiring a minimum of $10,000 investment.

I have heard good things about BitcoinIRA.com and they are relatively new as a company, but they are located pretty close to where I am here near Burbank, California.

I'd say you can't go wrong with either of these two IRA options if you are looking for a safe cryptocurrency investment for the long haul.

I think one should invest into real products or stable btc
If you are sure you wanna take risk, I'll ttry some of those: UnikoinGold or Confideal.

As part of a diversified account, I would definitely put some of my 401K into Bitcoin. if this were to becomes accessible through a 401K, then that means investments firms will be buying Bitcoin, which means Bitcoin will continue to grow.

Anybody dealt with any of these 3 bitcoin IRA custodians for their investment? https://goldiraguide.org/top-bitcoin-ethereum-ira-companies/

Wondering about Broad Financial's flat rate model? Is it legit? Is it even legal to go invest through a checkbook control LLC?

Thanks

In my opinion I would just like to invest the cash I have in my hands and in bank accounts. And the investment will be in my control. I mean that if there is something happened which is not good for the investors so that I would be able to afford the loss of my bitcoin. This will not disturb me. And if somebody invests all his capital into one business that of crypto currency and loos it he will definitely mentally disturbed.

Like mentioned above, only invest what you are willing to lose. My retirement account from my previous employer (from many years ago), has been stagnant and not doing anything interesting. I'd be willing to lose 5-10% of it just to make it interesting and at least have the potential for that 5-10% to grow. We've started offering these services to clients because we believe it's a unique way for people to buy crypto using money that's locked away anyway. Cheers.

Noble Bitcoin
Bitcoin IRA services
https://noblebitcoin.com

Bitcoin shouldn't be an all or nothing strategy, but rather a calculated risk/investment which merits consideration of around 10-50% of any investment portfolio, depending on who you are results may vary.

A smart investor wouldn't have all his or her eggs in their 401k so it does makes sense to invest into a Bitcoin 401k from a financial diversification investment perspective. Real Estate, Gold, Art and Internet businesses would also make great assets in the event of a financial crisis.  It would make a lot of sense to time the market however for Bitcoin price so if there are any crazy media stories in the near future that would be a good time to buy.

Never go all in on anything, especially with your savings.

Spread it wisely and you will end up better in case things go south.

you are good as long as all your eggs are not in one basket.

For the present, the market condition is at its peak. Bitcoin is worth 4xxx dollars already. The demand is also increasing rapidly and the speed at which its value is increasing; it will be 7k dollars before New Year. I also suggest him the same. Investing in BTC now can prove to be more profitable than ever.

Bitcoin is like a new Gold asset class in a way. I probably wouldn't invest my entire retirement into Bitcoin, but somewhere around 20-40% of my entire portfolio would make sense. The risks may be somewhat high, but if you keep it safe with diversification, the risk for rewards is so much greater.

Bitcoin and cryptocurrencies like it are an asset class like no other seen before.

Yes, if our company offered BTC as an option, I would put a significant percentage of my monthly contribution into it.  Because I expect to work for years, I am willing to ride the ups and downs without thinking I am really affecting my retirement money.   I would reallocate some of the current holdings into it as well but not all.

I might as well go as far as investing half or three-quarter of mine into Bitcoin, but that depends on the market conditions/how the price is going (as in going up or down). For now, the market is quite okay, so there is no risk involved if you do so. So I will say is a good opportunity, and don’t miss grabbing this great opportunity.

Investing your retirement income into Bitcoin it’s kind of a “Win or Lose”. The high volatility of Bitcoin makes it to be a really great option for investment when the price is going up, but it’s real a pain in the ass when the price is going down. Think of it, the price for a bitcoin is going up, and assuming you invest the 401k into it, calculate how much profit you will make when the price keeps going up.

If you’re smart enough, what you will do is once you invest and see a great profit like extra 200k on it, you just withdraw your 401k investment, and leave the 200k to keep growing.

That's smart. Spending some of the amount in bitcoins is better than spending all of it if you are an aged person expecting a little life left. But if you are young and have some handsome savings then investing 70% to 80% will give more rewards in future. Whatever your plans are, I wish they will make your remaining life easy.

I certainly wouldn't dump my retirement accounts into bitcoin, per se, but I would love to diversify 10-20% into it. Unfortunately, I don't have that option where my accounts are currently held (through my employer). Just regular mutual funds, bonds, commodity funds, etc. I guess when I leave this job, I'll roll my retirement accounts into something that has access to GBTC. Or maybe we'll have an ETF by then.

i think i don't want to invest all 410k because i will use only half of total money and use the rest of the money to continue my life daily. i will use 410k to buy bitcoin and altcoin and just keeping in my private wallet. maybe i will use half of that amount to trading to grow my bitcoin and altcoin so i can sell it whenever the price is higher.

The volatility of bitcoin is off the charts.  Dumping your retirement accounts into bitcoin would be like taking it to the casino and playing poker.  Sure, you could win big, but you could also lose big.  Find another way to make bitcoin, including converting some of your (disposable) regular income into bitcoin.

A safe way to play indeed. I suggest investing that much amount whose loss is affordable. But in the case of Investing in bitcoins, I will not mind going an extra mile because my guts tell me that it will give a huge profit and I have always believed my intuitions. The prices of bitcoins are going to rise tremendously in near future. But still everyone has his own principles of life.