Including Cryptocurrency in Your Retirement Planning Could Be Easier Than You Think

<p>With a Bitcoin IRA account, you can defer taxes on any cryptocurrency earnings.</p> <p>A decade ago, cryptocurrencies were deemed unsuitable for institutional investors. However, as any entrepreneur will tell you, there is no such thing as risk-free innovation. And today, cryptocurrencies are mainstream because a small group of believers was willing to take a chance. While you presumably cannot stroll into a grocery store and purchase milk and eggs with cryptocurrency, innovators such as Bitcoin IRA have created crypto credit cards, crypto savings accounts, and even a tax-free bitcoin IRA.</p> <p>Why would you want to invest in a cryptocurrency IRA? Cryptocurrency is the twenty-first century's alternative asset class. Bitcoin's price has soared from $745 five years ago to $60,000 today, a 7,953 percent increase. Coinbase, the world's largest cryptocurrency exchange, has been upgraded to a publicly traded company with a market capitalisation of about $100 billion. El Salvador became the world's first country to use Bitcoin as legal cash recently, and some analysts believe Brazil may follow suit. Meanwhile, 70% of institutional investors in the United States currently invest in or plan to participate in cryptocurrency in the near future. Additionally, the global cryptocurrency market is now worth more than $2 trillion.</p> <p>Of course, there is still some volatility in the cryptocurrency market, and no one is advising investors to put all their eggs in this basket. However, how about some eggs? Cryptocurrency has shown to be an effective inflation hedge, and many experts believe it could eventually supplant gold as the primary hedging asset.</p> <p>Therefore, if you're interested in adding cryptocurrency to your investing portfolio, one of the most prudent methods to do so is through a Bitcoin IRA.</p> <p>What is a Bitcoin Individual Retirement Account (IRA)?</p> <p>A Bitcoin IRA account enables you to designate bitcoin assets as retirement savings, benefiting from the same tax reductions available on tra