Post
Topic
Board Beginners & Help
Re: 401K roll over to Bitcoin IRA investment- anyone doing this?
by
HabBear
on 25/12/2017, 21:15:15 UTC
There are a few companies that allow you to roll over a 401k plan into a "bitcoin" IRA. Anyone doing that? Or, researching? Curious about the experience.

This is a global forum, and what you're talking about is only available in the US...this might slow down or limit the number of responses you get.

I've not looked into this investment account much, but as you research it you should consider the following:

(1) How reputable is the company that's selling you the account? They're likely not some major investment bank. Can they go out of business easily? Are they protected by investment fraud insurance in the US?

(2) Is this fund actually buying Bitcoin or do they augment their assets with Treasuries or Cash as a way to soften the volatility of Bitcoin? It's not bad if their fund blends assets, it's just something to be aware of

(3) What are the fees they're going to charge you? Per transaction? Annual fees? Maintenance fees? Etc.

(4) What's the process if you want to sell the fund and transfer your assets to another qualified account? There shouldn't be any lock in periods. You should be able to move your account to another investment bank at any time you like

(5) Do they allow you to invest in cryptocurrencies other than Bitcoin? E.g., Litecoin, Ethereum, Ripple

Let us know what you find out...come back here and share your knowledge with us! Good luck!