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Top Bitcoin IRA – What Is it and Why Do You Need it?

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What Is Bitcoin?

Bitcoin is the world’s first cryptocurrency comma having started in 2009. Since then, various other cryptocurrencies have formed but bitcoin continues to be the best known and most popular one. Since 2009, it has gone through many ups and downs but it has proven itself to be resistant to inflation. During both the Cyprus and Greece financial crisis, bitcoin showed itself to be a very safe haven for money.

That you have by now heard about the fact that bitcoin is becoming increasingly popular. So much so, in fact, that many will agree that you are on the verge of missing out on the opportunity of a lifetime. It is for good reason that it is now even possible to open a bitcoin IRA. That said, because this type of account deals with your financial future, it is very important that you also learn how to find the best bitcoin IRA.

Bitcoin is not some sort of get rich quick scheme, rather it is a way to insure yourself against inflation. It is also for this reason that so many people are now considering it for there retirement and why the US has legalized it as part of their individual retirement accounts (IRAs). What this means is that you can access a number of tax benefits buy buying Bitcoin and it is now even possible to use Ethereum as part of it as well.

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The Best Bitcoin IRA

There are now numerous companies that offer bitcoin IRA and it is important that you find the right one for you. One of the most important things to look for is that the company offers excellent security features. Perhaps the only downside about cryptocurrency is that it can be stolen if you do not protect it properly and once it is gone, there is no way to get it back. Hence, multi layer security is the most important thing to investigate in a potential bitcoin IRA.

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Secondly, a bitcoin IRA is always a self directed account. That means you are the one who decides what Investments to make and what percentage of your account goes to the different assets. Indeed, just because you have a bit going out it does not mean you can only fill it with cryptocurrencies. At the same time, just because it is a self directed IRA does not mean you should not be offered at least a little bit of help. Hence, try to find a company that provides you with educational materials and that would be happy to give you advice on how to invest as well.

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Third, you should look into the fees that the company charges. No matter what kind of IRA you hold and with what company, you will always have to pay fees. However, they should be reasonable and fully transparent. For instance, there are bitcoin IRA companies that also allow you to invest in physical precious metals. It is common for them to charge fees for the storage and security of these precious metals. However, if you have not bought any, then you should not have to pay for this either.

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