How to Buy Bitcoin With Your IRA

• For several months now, our phones at Broad Financial have been ringing off the hook. People want to know: “Can I use my IRA or 401k to invest in Bitcoin and other cryptocurrencies?” And the answer is: “YES!”

Watch our two-minute Bitcoin IRA video which gives a quick overview of the process.

• Many people have never heard of self-directed IRAs. The few that have are usually only familiar with one type: a custodial self-directed IRA. In this model, a third party (the “custodian”) holds your cash and assets, and keeps control over them. The companies offering these kind of IRAs typically make their money by charging asset-based fees and/or transaction fees. For the client, these fees can add up very quickly.

• Once people see how it works, they invariably realize how superior the Checkbook IRA is for cryptocurrencies. People have even told us that it seems too good to be true.
• The real truth is that cryptocurrency is a relative newcomer to the investment scene, and it just happens to be a perfect fit for the Checkbook IRA. In the past those making standard investments in products like mutual funds didn’t need the power of the Checkbook.
• The big brokerages are built around Wall Street products and Checkbook control would have added little to the investing experience. However, for those looking to invest in cryptocurrency, there is no better platform. The nature of Bitcoin investing dovetails perfectly with the flexibility and fee structure of the Checkbook IRA.