How can I execute a Bitcoin 401k rollover? Is there any easy process that I should follow in order to achieve this within the least time possible? Is there a reliable company whose services I can trust? If you have found yourself asking these questions then I can guarantee you that you are in the right place. Herein, I will reveal to you everything that you need to know about Bitcoin 401(k) rollovers and how you can go through this process easily and effectively.
Highlights of this article:
- Why you should invest your 401 (k) funds into a Bitcoin IRA
- Checking for eligibility
- Steps to follow during the rollover process.
- Which Company should you rely on?
Why you should invest your 401(k) funds into a Bitcoin IRA
There are a couple of reasons why people choose to invest their 401(k) funds into a Bitcoin IRA. There are several benefits that particularly arise from investing in Bitcoin, which is one out of more than 1600 cryptocurrencies. Here are some of the most outstanding ones:
You can hedge your savings against inflation
Unlike regular currencies that are affected by inflation, most cryptocurrencies are meant to get rare with time. With Bitcoin, for instance, only 21million tokens can be in circulation at any one time. Paper currencies can be printed on demand and this makes it easy for them to be affected by the forces of inflation. Having a Bitcoin IRA will help you secure your nest of investments from decreasing in value.
2. You can hedge your portfolio against a stock bubble
It is highly likely that you have already come across investment experts who are trying to push all types of stocks down your throat. Apparently, after every decade, all overvalued stocks suffer from the revaluation that occurs in the market. If you do not have a portfolio comprised of assets that are safe from this revaluation, it is highly likely that you will walk into your retirement years with nothing. Not a good position to be at, right? Having an alternative asset such as Bitcoin can help you avoid ending up with a valueless portfolio.
3. Bitcoin has a very promising future
You may have already established that some of the world’s superpowers are taking a big leap into the field of blockchain. Such is a move that has helped to reinforce the position of Bitcoin as a valuable crypto since it is based on the same peer-to-peer model. It is expected that the value of Bitcoin will skyrocket in the future due to its rarity. If trends are to go by, Bitcoin has been one of the most valuable assets to have in the decade that is coming to an end. Long-term investors have so far reaped massive investment income, and this is expected to be the scenario even in the future.
Are you eligible to do a Bitcoin 401(k) rollover?
On most occasions, you will find that every company has its unique rules when it comes to the qualification of those who are eligible for a Bitcoin 401(k) rollover. It is, however, a common requirement that you should have an existing 401 (k) account or any other retirement plan such as a Roth IRA 403 (b), or a Thrift Savings Plan.
The best thing is that most IRA companies are willing to do the heavy lifting for you. They, in conjunction with a reliable custodian, will contact your current IRA service provider and execute the rollover process. This may, however, vary from one Bitcoin IRA service provider to another.
Steps to follow to convert your pre-existing 401 (k) into a Bitcoin IRA
- Open a self-directed Bitcoin IRA – You are required to open a Bitcoin IRA in order to kickstart the rollover process. You can contact the IRA specialists to assist you with all the necessary paperwork. If you choose to work with a company such as Regal Assets, your custodian will be Kingdom Trust. Kingdom Trust is well known for being keen on all matters that affect its clients’ interests.
- The custodian will take care of the transfer of funds and the purchase of Bitcoin- Your custodian will then proceed to transfer the funds in your pre-existing IRA into the newly-created Bitcoin IRA. They will also assist you to purchase Bitcoin from a reliable source.
- The Bitcoin will be stored in Bitcoin Wallet – The best Bitcoin storage approach in the 21st century is cold storage. With an insured cold storage wallet, you can be sure that there is no way that you can lose your Bitcoin.
Which company should you rely on?
There are many companies that have already established their businesses around the provision of help to clients who would want to invest through a Bitcoin IRA. So far, I have established that the one complaint-free company is Regal Assets, which offers its Bitcoin IRA services through Regal Wallet, the world’s most secure crypto IRA wallet. Regal Wallet is the most advanced wallet in the entire world, and it lets you access the widest variety of digital currency assets. Every single client who works with the staff facilitating the services offered through Regal Wallet ends up walking away very satisfied.
By filling up the form provided by Regal Assets, you can get your free detailed Bitcoin IRA investment kit. You can also schedule a free call with a Bitcoin IRA specialist if you need to ask any questions before taking a step further.
==> Looking for a reliable company to help you with the acquisition and storage of Bitcoin? Get Started For Free <==
I hope that you enjoyed this article about Bitcoin 401k rollovers and that you are more informed about how to go about transferring your funds to a Bitcoin IRA. Feel free to express your thoughts in the comments section, and to also drop a question if you have any.
I wish you success!
Eric, investor, entrepreneur and team member of Gold Retired.