New to Bitcoin? Find out how to start investing it in your IRA

Almost everyone has heard of Bitcoin by now, although they might not yet fully understand how that coin and other cryptocurrencies work yet.

Fortunately, even if you are new to the world of Bitcoin, you can still invest in the coin with the use of a Bitcoin IRA.

Continue reading the article below to learn more about Bitcoin IRAs and how you can get started with Viva Capital.

What is a Bitcoin IRA?

A Bitcoin IRA is very similar to a traditional individual retirement account in which you invest and gain interest. You get incredibly beneficial tax benefits when you cash out the required age. However, while a traditional IRA will use your money to invest in stocks, mutual funds, and bonds, a Bitcoin IRA will invest in cryptocurrency.

Why You Should Invest In a Bitcoin IRA

The main reason is the potential growth cryptocurrency represents. Cryptocurrency and Bitcoin, in particular, was the highest performing asset of the decade, and it is only going to go up from there as their daily use continues to grow.

Additionally, the cryptocurrency market is entirely independent of the stock market, the value of the dollar, and precious metals. If there is a crash or recession, cryptocurrency is often unaffected and may even go up in value as people lose faith in traditional markets. It’s always good to diversify your portfolio, and investing in a market with no attachments to your other investments is an excellent place to start.

How Does a Bitcoin IRA Make Money?

First and foremost, as Bitcoin’s and other cryptos’ value goes up, so does your investment. However, there are also other methods a Bitcoin IRA has to make money passively and get your compounding interest. When choosing a Bitcoin IRA, make sure they offer portfolios that allow for master nodes, dividend payments, staking, etc.

These are all complicated topics that a Bitcoin IRA custodian will handle for you. To put it simply, you are placing your current crypto holding on hold and earning interest on them. However, if you want to get more in-depth, we recommend researching the terms.

What To Look For In a Bitcoin IRA

They Handle Everything: From Setup to Taxes

Cryptocurrency can be a complicated subject, especially for newcomers, so when choosing a Bitcoin IRA, we recommend looking for one that offers a complete service package.

Insured Staking In case of Cyber Attacks

Unfortunately, as with most things regarding the internet and digital technology, bad apples are looking to take what isn’t theirs. When choosing a Bitcoin IRA, it’s crucial to look for an organization that offers a hundred percent insured staking service.

A Bitcoin IRA Can Kickstart Your Retirement

The rapid growth of Bitcoin and cryptocurrencies can mean your retirement savings can get an exponential boost if you are using a Bitcoin IRA. When you add the ability to make passive income through dividends, staking, and more, there is no reason you shouldn’t be using a Bitcoin IRA as part of your retirement plan.

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