What is a Bitcoin IRA? Tax Free Bitcoin Trading (US Only)
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- เผยแพร่เมื่อ 24 ส.ค. 2020
- Bitcoin IRA companies:
* iTrustCapital - bit.ly/3vTR6bZ Get your first month for free when using coupon code "99Bitcoins".
* BitcoinIRA - bit.ly/2D1eQE8
Bitcoin and cryptocurrency IRAs, in general, are an extremely powerful investment tool that lets you save a lot of taxes from your cryptocurrency trading and investment operations. Here’s everything you need to know about them.
0:56 What is an IRA?
1:39 The 2 Types of IRAs
3:53 Bitcoin and Cryptocurrency IRAs
4:52 IRA Limitations
6:45 The 3 Ways to Start an IRA
7:50 Choosing an IRA company
10:05 Conclusion
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Note: The following video is relevant for US citizens only and is meant for information purposes only. It is not intended to offer any investment advice. Any action regarding your financial future and IRAs should be done in consultation with a financial advisor or tax professional.
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Love the Outtakes!! Great info as always!
This was by far the best video I've seen. Informative, clear, respurceful!
The one great thing about investing in an IRA or Roth IRA is you can buy and sell without creating a taxable event when trading inside the IRA/Roth....... I prefer the Roth with the current low tax tables.
Thank you for your videos. They have helped me get a much better understanding of this new technology. This one was especially timely and the questions you gave were very helpful!
Thanks Nate. I've watched a ton of these now - really good. Plus, I, too, love the outtakes at the end! Cheers
Your videos are very helpful! Thankyou
Thank you for all your videos! Very helpful!
Thanks Nate for the great info. Cheers...
This was one of the most informative and beneficial videos I’ve seen in a while.
Thanks for references. Just need to repeat warnings on verifying if companies is regulated
Thank you so much for the informative video on Crypto IRA's.. Nicely done. : )
Thank you, as always very clear, concise information.
SHORT, SWEET AND ACCURATE...EXCELLENT!
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Awesome, thank you! And the Bloopers were funny!
thanks nate
That was brilliant! I had no idea about some of those tax free options and am totally going to explore those now. Thank you very much, my trusted source!
Please can Nigerian or other African countries partake of IRA CRYPTO currency
Don't confuse IRA, which is an American retirement fund (Individual Retirement Arrangement) with the IRA crypto. By the way, I'd be very careful of the crypto IRA, as I see their website has been suspended. This suggests to me the project has either failed or been discovered to be fraudulent.
Thanks for sharing
Great video. Can you discuss self-administered IRAs, or you consider that solely an IRA topic and not at all a Bitcoin topic?
hahaha we love the outtakes!
Very good info
One of the best channels around.
@@jessicawiley9592 no, I’m just a viewer of your vlogs.
Nate what digital currencies can you put IRA into,looking to put into XRP
Clemonce
Great video
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Can you have a Roth IRA and a Crypto Roth IRA? Or are the contributions for both gotta equal the $6k max?
Well made.
Brilliant!!
@@jessicawiley9592 ..no that I know.
If BTC returns 10% per year and also grows 10% per year and you invest $5k for 40 years that will be $5,000*(1.1*1.1)^40 = $10.242 million. :)
Wow, didn't realize the tax benefits of Bitcoin IRAs for retirement savings in the US! Definitely something to look into for securing the future. Thanks for breaking it down!
By the way, for those looking to explore crypto IRAs further, I stumbled upon My Digital Money recently. They've got a user-friendly platform and excellent customer service making crypto investing a breeze. Might be worth checking out! 😉
I love your video I just subscribed to your channel u are the best among all I have been watching on TH-cam... Am trying to trade on blockchain exchange and start making money I have 200$ to trade what should I do? I have gone through your video and u thought me much
Nate this video is really grainy.. it's usually really really clear this looks like an old MTV video. But None the less I was looking at IRA's for bitcoin just this week so you still Right on time🤗🤗
Thanks for feedback. Looking into it now
Is this also known as a self-directed IRA, or is there a difference?
In regards a trust for the IRA which is best ira123 safeguard advisors, unchained capital, or casa for holding your own keys?
Exploring various options for securing my crypto IRA, and it's fascinating to see the range of choices out there like IRA123, Safeguard Advisors, Unchained Capital, and Casa. Each seems to bring its unique strengths to the table. Lately, I've been learning about My Digital Money, and it's intriguing how they emphasize user control and security. It's crucial to find a solution that aligns with one's goals and preferences in the crypto space. Always good to keep the options open and informed decisions!
love you mentioned questions to ask.
What's the difference between invest crypto via rothira vs crypto ira?
wish there is a step by step set up tutorial video for setting up a crypto ira account
The difference between a crypto-based traditional and Roth I.R.A. would be the same as between any traditional and Roth. Just perform an Internet search for this (e.g., "Traditional versus Roth I.R.A."), and you should discover the information you seek (you might begin with the Internal Revenue Service [I.R.S.] Web site). Please, feel welcome to reply, should you seek further guidance.
Wouldn't non-NYC also be a much less complicated option?
What worries my is their Agreement provides zero insurance, safety or guarantee even possible loss of the principle invested. They are even refuse responsibility for losses caused by their own mistakes. Anyone could share what are your thoughts and experiences with this matter? Is this a standard practice for the industry?
There are no 100% guarantees in Investing. Even banks only offer guarantees up to $250,000 that is the FDIC insurance cap. That's it.
What about ‘Solo 401K’ or ‘Individual 401K’?
hello sir we want to make cooperation with you, do you make video for Cryptocurrency project review
Can you hold your own keys in any (the most important question)?
I do not believe any IRA’s let you hold keys.
If you are dead tomorrow, they want to be able to give your funds to whoever is legally eligible. Without keys, they wouldn't be able to do it.
If you go with IRA Financial Trust, they can help you to create your Self-Directed IRA LLC (and related business bank account). Then you can register with exchanges as a business, and hold the key(s).
@@jirijelinek2038 thanks
Finding the ira, the biggest challenge.
Question: on withdraw for a Bitcoin IRA what type of taxes are paid is it income tax or is it capital gains tax ?
Hello,
The profits from the IRA, ie - the 'interest' that the investment yields will attract a capital gains tax.
It would only be income tax if someone paid you in BTC.
I hope this helps.
Good information. Thanks! New Subbie here.
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The main problem is the option to hold your crypto since these IRA companies do not want to payout during a security breach. It’s happened to companies like IRA financial. How can I secure my crypto within these IRA to avoid internal breaches of security?
It will be a good day when my company starts paying my salaries in bitcoin or Litecoin on a Ethereum smart contract.
What about a ROTH IRA? Is that route available?
Great question. Mine too. I wonder if one would purchase GBTC.
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Great video. What if I'm at retirement age already? Can I trade and withdraw funds tax free?
Yes you can. You are entitled to pay tax only when you withdraw money out of Rollover IRA.
You don't hold your own keys and the insurance is virtually non-existant. Pretty scary.
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The fees make you just want to the pay taxes.
OK, it seems odd that there is a video on Bitcoin IRAs (a tax avoidance method) without a video or discussion of the taxes you are trying to avoid. From what I understand, Bitcoin appreciation is treated as a capital gain and every time you use (sell) Bitcoin you are creating a taxable event. That is kind of a big deal and maybe not obvious to people who are inclined to view Bitcoin purely as a currency rather than a taxable investment. Please correct me if I'm wrong on any of this.
So???
Is this might be the reason why Warren Buffet only takes out a $100,000 a year income?
One of my principles I follow is "What's the catch?"
Will the insurance really kick in. IRA financial lost 36mil and I heard they are washing themselves clean of liability. I would love to be wrong but it seems their insurance claims dwindle when a actual loss occurs and these claims are just used to gain potential new client trust. They may really try to keep it your funds safe but real insurance if a must incase the unlikely does occur. Payout in theft circumstances should swift and streamlined after you are found not to be the cause of the theft. IRA Financial has been around for a while so that’s what makes it scary to join this or any of the other known crypto IRAs.
Instructions unclear, my car just got bombed and why are there a bunch of redheads dancing on my front yard
I just checked but their fees are whoping and not worth the risk.
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I appreciate this educational video. But, I must caution, one almost certainly should NOT establish a crypto-I.R.A. If it is to be a SMALL percentage of one's overall retirement investment portfolio, then PERHAPS this is all right; however, as the core of what one relies on for one's retirement finances, a money-dump of cryptocurrencies is an extremely risky endeavor, and one very probably not worth the hazard.
You're a fool, crypto is clearly the future. Your other investments can't keep up with the currency inflation problem.
@@lasagna3106, I agree with only the first clause of your statement.
@@Commando303X LOL. Well played.
roth = Rothchild ?
Roth stands for Senator William Roth its chief legislative sponsor
@@99Bitcoins ok sorry thats actually Rothschild, so not at all.
@Nicks !! yeap . my mistake
Beware iTrust Capital is experiencing "glitches." It's the only explanation they can offer for why they have been holding my money for over 14 days now. I've missed several buy in opportunities and they still cannot tell me when my funds will be available or why exactly they have been holding them in cash.