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What is Rocket Dollar? | Reviews & Complaints to be Found?

May 23, 2022 by Glanz Leave a Comment

Today we will look at the Rocket Dollar reviews from consumer protection agencies. What is Rocket Dollar? They are an IRA custodian company that specializes mainly in investment opportunities for individual retirement accounts. Let´s look into this new company in the industry!

Company: Rocket Dollarwhat is rocket dollar

Website: www.rocketdollar.com

Founder: Henry Yoshida

Price: $360 Setup fee +$15 per month

Who is it for?: Self-directed investors, retirees

Overall rating: 3.8 out of 5 stars (3.8 / 5)


Warning!

There are many scammers who will trick you into giving them your hard-earned cash. 

They employ high-pressure sales techniques like calling you every day. 

To avoid this, please do your own research before you decide what firm to invest with. 

You can do this by checking the reviews and ratings independent 3rd party consumer protection agencies give them.

To discover which IRA investment firm consumers rate the highest… who won’t bother you with pushy sales calls… and who you can trust to protect and grow your wealth… then take a look at the top-5 lists of our Self-Directed IRA Dealers.

With that being said, let´s continue with the review on Rocket Dollar!


What is Rocket Dollar?

The company started in 2018 as a fairly new investment platform that positions itself as a low-cost platform for self-directed investors. They are there to ensure that their clients get all the help they need whenever they want to set up a Self-directed IRA or Solo 401k investment plan. The IRA or individual retirement account exists under a trust that holds investment assets acquired with an individual’s earned income for their eventual benefit in old age. The taxpayer is allowed by an IRA account to save their retirement benefits on a tax-deferred basis. 

rocketdollar reviews

Address of the company: 2028 East Ben White Boulevard Suite 240-4010 Austin, TX 78741

How Does Rocket Dollar Work?

Opening an account through Rocket Dollar is pretty simple. A client signs up online, after which he/she signs the required documents, then funds their investments. Once a client funds an investment plan, they can start buying any legal investment. It may seem simplistic, but a deeper review of the factors involved assists the understanding of the complexity of the work put into Rocket Dollar as well as how easy it is to go wrong.

By opening an account through Rocket Dollar, an individual also opens a limited liability company. This company is opened under the ownership of the client’s account. The funds used in investments and the returns go through the LLC’s checkbook since one cannot combine personal funds and investment funds.

The LLC’s control of an individual’s investments account is meant to assist in staying compliant with set laws concerning self-directed investments. However, the account holder should note that they still have to apply caution when buying and selling assets. Rocket Dollar emphasizes that it is illegal to “self-deal” or buy or sell assets you or your business own. Due to this reason, Rocket Dollar offers to help fill the form 5500 for a client whenever it’s required as part of the client’s customer service.

What products do they offer?

Self-directed retirement accounts

is rocket dollar a scam

Rocket Dollar facilitates the operation of self-managed retirement accounts by handling back-office documentation and connecting its users with prospecting investment partners. The platform offers self-directed IRAs and solo 401(k) accounts. Like retirement accounts, a Rocket Dollar user’s investment can save a huge amount of money in tax savings with high-yielding investments. 

The self-directed retirement account offers investors a broad universe of IRS-approved investments.

The investments opportunities available to Rocket Dollar clients include:

  • Real estate
  • Metals: including IRA-approved gold and IRA-approved silver, among others.
  • Precious metals are available in bars, bullion, and even coins.
  • Commodities
  • Cryptocurrency
  • Equity Crowdfunding
  • Private equity lending
  • Start-up lending
  • Conventional lending
  • Peer-to-peer lending

With Rocket Dollars, a client can invest in options that are not on the platform through the “Bring Your Deal (BYOD)” provision, which turns an unlisted option into an investable opportunity. 

As a client, one gains a wide selection of investment options to choose from whenever one needs to invest. With your hard-earned dollars positioned correctly, you will be at peace, knowing you will not lose it all in a moment. Even with the current economic and political scenario’s complexity of existing risks, you will still reap the benefits of your investment in your assets many years later. 

**Also read:

Gold in war (hedge against inflation)

How to protect your 401(k) from a market crash

How to get started?

The company’s excellent customer service makes starting an investment plan with them fairly simple. However, it is advisable for you to start by accessing their website and reviewing the different products they offer. On the website, you will also get a free guide that can provide you with more information concerning IRA plan investment and factors to keep in mind when investing. The guide is considerably helpful to investors looking to open a self-directed IRA account for their retirement. 

This will also provide some background into the company their history. Staying informed will assist you as a client in assessing the viability as well as the security of the intended investment. Should you prefer their services, the next step should be to contact the company through one of the various options given on their website.

A customer support specialist will get in touch with you and provide you with the guidance that you need to open a self-directed IRA or a Solo 401k account. They will also assist you through the investment process.

Whom Are Rocket Dollar’s Partners?

With Rocket Dollar, you can invest in almost anything with the self-directed IRA. The company has several online investment partners that assist when investing in the various options listed above. However, you should not take my word for this; it’s advisable to do your research on these companies.

The point to note is that, even if the partners are not impressive to you, with a self-directed IRA, you have the option to invest and set up accounts in the name of your IRA or Solo 401k, even when they don’t partner with Rocket Dollar.

What Are Rocket Dollar’s Fees?Gold Retired

Each account requires a $360 setup fee and an additional $15/month maintenance fee in Rocket Dollars’ silver option. Considering your account balance, this can be a preferable deal. Any additional fees incurred are included alongside these fees charged by Rocket Dollar.

Rocket Dollar has a Rocket Dollar Gold option for an expedited funding option. This option requires a $600 fee and a $30/monthly maintenance fee for people in need of support closing a deal quickly.

Comparing these fees with the free solo 401k plans by the major brokerage firms, they come out as expensive. However, this option allows you to control and invest in a greater variety of options.

How Do They Compare?

Rocket Dollar isn’t the only company in this trade. When looking for a Solo 401k or a Self-Directed IRA, the options are not limited to just a few companies, there are plenty of alternatives out there.

**On this page you can see our top-6 list of Self-Directed IRA Custodians.

However, here’s how Rocket Dollar compares to a couple of them (see more from link above):

                                 RocketDollar      ALTO           My Solo 401k Financial

Setup Fee:           $360                           $49                  $425

Annual Fee:          $180                           Up to $499    $125

Plan Types:           IRA & 401k               IRA                   IRA & 401k

What can we make out of these results?

This shows the slightly higher overall fees for Rocket Dollar; however, the effect it has on the company’s success, we are yet to see; as the company is fairly young, there haven’t been a lot of customer responses and reactions to derive from. 

How good is their support?

The Rocket Dollar platform is a self-directed IRA and solo 401k provider. It bases its operation on keeping its plan easy to set up and manage. This ensures clients can focus on other demands. They have excellent customer service, which makes their support great.

Is Rocket Dollar a Scam?Gold Retired

So, is Rocket Dollar a scam? No. The company is not a scam but a legitimate IRA investment company. They have real owners documented on their website as well as a real physical address. However, the company is still fairly young, so we are yet to know how well it develops.

Though it is a young company, it has the advantage of numerous alternative investment opportunities, so if you are experienced as a trader, the company will provide the universe of options you need as long as the high fees don’t scare you.

Rocket Dollar Reviews & complaints

One of the best way to research a company is, without a doubt, to look at reviews of the particular company, in this case, Rocket Dollar. However, we do not like to just look at “any” review but we focus mainly on the most well-knwon and trusted independent third-party consumer protection agencies. The reason why we look at those places and put the most weight on that is because only real customers of a product or service can leave their testimonials there.

Below are the reviews on Rocket Dollar:

BBB (Better Business Bureau)Gold Retired

Rating: N/A

Trustpilot

Rating: N/A

BCA

Rating: N/A

Trustlink

Rating: N/A

Yelp

Rating: N/A

As you clearly can see above we didn´t find anything on the most well-known and trusted consumer watchdogs… Again, Rocket Dollar is a very young company so that might be the reason for it.


Rocket Dollars PROS
  • Self-directed IRA or Solo 401k easy setup
  • Alternatives investment options in an IRA
  • An expedited setup option great for those with urgency
CONS
  • Slightly higher than average annual fees

Do you own or represent this company? 

Are you the owner or a representative of Rocket Dollar? Would you be interested in clarifying any of the details we have provided above or adding some details concerning the review? Any information will be added to ensure IRA prospecting investors get the best image of your platform. 

The quickest and easiest method to get in touch with us is to post a note in the comments section below or to send us an email at the following address: contact@goldretired.com.


Final words & Verdict

Verdict: Legit

Overall rating: 3.8 out of 5 stars (3.8 / 5)

Rocket Dollar makes it cheap and easy to invest retirement funds in alternatives. For an experienced person, this is a compelling opportunity. I would be reluctant to invest my retirement dollars in alternative investing. The company is still too young to predict its future capabilities.

For now, I would think it wise to wait until that platform has established a track record of successful investing outcomes. An alternative investment is a risky trade that depends on the prowess of the individuals involved. This is not a trait one can judge on impulse; it requires actual scenarios of triumph over the challenges in the business world to make what I would call “an informed decision.”

As of now, I give the platform a rating of 3.8 out of 5 stars. However, this may change to a higher or a lower index in due time as we update our reviews on this site as soon as new trends come up on the platform.

Recommendation + resourcesGold Retired

Please make sure to due your due diligence and ALWAYS compare different alternatives before you make any decisions to move forward with your investment. You are a smart person, I know that because you clearly understand the consept of doing your own research, you wouldn´t have read this far otherwise, right? So I am absolutely sure that you will find the company that suits your particular needs the best, and that you feel comfortable doing business with!


I hope you found this short review to be helpful and that you now got a better idea on what Rocket Dollar is and if it is something for you or not. We didn´t find any reviews from the consumer watchdog sites, so if you have experience yourself with this company then please share it in the comment section below as it can help others!

I wish you success!

Glanz, investor and team member at Gold Retired

Filed Under: Agriculture, Crypto, Gold, Real Estate, Retirement

What Are The Differences Between Gold and Bitcoin? Facts!

April 20, 2022 by Eric Leave a Comment

What are the differences between Gold and Bitcoin?

What are the differences between Gold and Bitcoin? Are there any similarities between these two assets? What do I need to know before adding either asset to my retirement investment portfolio? If you have been asking yourself such questions, then you are in luck because, in this article, we shall cover content that will help you understand what you need to, before deciding on which of the two assets you will invest in. If that sounds interesting to you, then read on to find out more.


P.S.Gold Retired

See my top-recommended Gold & Silver IRA investment solutions here


Introduction

Many market observers have drawn parallels between gold and bitcoin. Both of these have proven to be beneficial to investors, and both have been used as speculative investments at times and safe-haven assets at others. While some analysts have compared the two, there are significant differences between bitcoin and gold.

These range from the simple tenure of investment to the very nature of these assets themselves: gold is tangible, whereas bitcoin is a digital asset. Investors considering trading either of these can benefit greatly from comparing and contrasting the two.


The Fundamentals of GoldGold Retired

For over 2,000 years, gold has been used as a form of currency. Every time miners extract gold from the ground, the supply of gold—that is, what we can access—increases. Gold finds its use in the manufacture of jewelry after it has been mined in this manner. Furthermore, investors can purchase precious metals in a variety of forms. They can purchase bullion or gain exposure to its price movements through a variety of financial instruments such as gold exchange-traded funds and gold futures.

Gold has for quite some time been getting a lot of attention as a safe-haven asset. In late 2011, the price of this precious metal reached an all-time high of more than $1,800, as debt problems arose on a global scope.

Augusta Precious Metals | Review on a No-Nonsense IRA Dealer


The Fundamentals of BitcoinGold Retired

Bitcoin is a type of digital currency that is mined in the same manner as gold is, but the process is entirely electronic. Bitcoin miners, in essence, are tasked with verifying transactions and combining them into blocks, which form the blockchain of the digital currency.

When the Bitcoin miners successfully complete a block, new bitcoins are released. The new tokens are generated in 10-minute intervals according to the bitcoin protocol. The digital currency units can then be used to make transactions. They can also use the units to make investments.

How Can I Buy Bitcoin With an IRA? Safe & Legit Approaches?

Can I Convert my 401k Savings to Bitcoin? | Is It Possible?


Important distinctionschoose

For a long time, gold has been perceived as one of the best assets in different economies and markets in which it has been used as a means of exchange and wealth storage. Bitcoin was launched as the first mainstream crypto back in 2009, but it barely gained widespread acceptance until a couple of years later. Other key differences discussed below will be of help as you decide which one to include in your portfolio.

LiquidityGold Retired

The liquidity of Bitcoin is a major concern for investors looking to it as a safe haven. Cryptocurrencies are typically very liquid assets, but this is not always the case. It is sometimes more liquid than other assets, and sometimes it isn’t. For example, if you had several hundred Bitcoin, you might have difficulty liquidating them if you needed to get out of cryptocurrency quickly—exchanges such as Coinbase only allow for $50,000 in cryptocurrency liquidation per day.

If the price of Bitcoin exceeds the daily limit set by your exchange, you will only be able to withdraw in smaller increments. If you don’t have a large number of Bitcoins, it could be a much more liquid asset for you. Furthermore, if the market swings wildly and many investors begin selling their Bitcoin, the price will plummet dramatically as a result.

Regulation

The gold industry happens to have an established system for trading and weighing, and the tracking processes are mostly flawless. It is extremely difficult to steal or forge, and it is also highly regulated. Many countries prohibit crossing borders with gold unless you have regulatory permission.

When it comes to investing in gold, you should only purchase it from registered and approved dealers and brokers; one caveat is that you should only buy physical gold if you can safely store it. Investors who purchase gold through gold  IRAs are actually required to store their gold in an IRS-approved depository.

Owing to its encrypted and decentralized blockchain system, Bitcoin is also quite difficult to steal and forge. With several exceptions, it is legal to use this crypto across national borders. However, the regulatory infrastructure that could exist to ensure user safety is not yet in place; additionally, the anonymity of cryptocurrency makes it difficult to regulate.

VolatilityGold Retired

Bitcoin has historically been influenced by the media, investor sentiment, regulatory actions, and hype. News from the crypto industry may, however, cause investors to panic and make miscalculated decisions, sending Bitcoin’s price either rapidly upward or downward. Because of reasons similar to the ones highlighted above, gold does not have this volatility, making it a potentially safer asset.

Several alternative cryptocurrencies have been launched in recent years with the goal of providing greater stability than Bitcoin. These coins are referred to as “stablecoins” because their values are tied to fiat currency or another stable asset. Tether, for example, is linked to the value of the US dollar.

Utility

Gold has historically been used in a variety of applications, including currency, luxury items, and specialized applications in dentistry, electronics, and other fields. This multi-functional utility has given gold the ability to retain its value when the value of other assets falls.

Bitcoin’s utility is limited. It is currently only used as a speculative investment and a digital currency. However, there is a new financial technology called decentralized finance that uses cryptocurrency for financial transactions.

Bitcoin can be used for lending, borrowing, and possibly more in this emerging technology. It has the potential to be involved in nearly as many applications as gold, but, in the same vein, it has the potential to become both useless and valuable.

As you can see, the question of whether Bitcoin is a better investment than gold comes down to your investment objectives, whether you enjoy speculating, your risk tolerance, and how much capital you can afford to lose if the market turns. A financial advisor can assist you in setting investment goals and determining whether Bitcoin is a good investment for you.


Final VerdictGold Retired

Gold and bitcoin are two investments that have received a lot of attention as safe-haven assets. There are some significant differences between them, such as gold being a physical commodity and bitcoin being entirely electronic.

However, there are some parallels between the two. They are both speculative investments in the sense that their prices are not based on more fundamental factors such as revenue, earnings, or interest payments.

Investors can benefit greatly from conducting thorough due diligence before purchasing or speculating on gold or bitcoin. Furthermore, they should remember that risk is inherent in investing, so they should not invest any money they cannot afford to lose.

Diversification

Overall, however, the two assets play an important role in portfolio diversification. Diversification of a portfolio can help to reduce risk and potential loss. Most investors incorporate this strategy in some way into their investment strategy; many argue that Bitcoin and gold can help.

Bitcoin is classified as a non-correlated asset, which means it is not directly linked to the stock market. As a result, a small allocation to Bitcoin in a traditional account has the potential to improve returns while not increasing overall volatility significantly. Gold can also protect your finances by diversifying them. It can also help you hedge against inflation or a financial crisis because it moves in the opposite direction of the dollar. This option would be better suited to investors seeking additional security.

Which is The Safest Gold Investment? (The Best Choice?)

How Do I Make Money With a Gold Investment? Realistic Ways?

How do I open a Bitcoin IRA? | Some Top Things To Consider!


Frequently Asked Questions on “What are the differences between gold and bitcoin?”FAQ

1. Is Bitcoin more valuable than gold?

Gold is a relatively rare metal. Bitcoin is uncommon in comparison to other cryptocurrencies, and gold is uncommon in comparison to other metals. They are both uncommon in their respective fields.

2. Is investing in Bitcoin the same as investing in gold?

Bitcoin, like gold, has become an alternative investment for some investors. It has a wide range of applications and can be a worthwhile investment if used correctly.

3. Is Bitcoin a Better Buy Than Gold?

Which is better depends on your risk tolerance, investment strategy, the amount of capital available, and the amount you can afford to lose. Bitcoin is significantly more volatile than gold, making it a riskier investment.

4. Can I invest in Bitcoin and Gold Using an IRA?

Yes, you can. You, however, have to open a type of IRA known as a self-directed IRA ( SDIRA). An SDIRA  has a host of advantages over regular IRAs, including the fact that investors can use them to invest in a wider variety of assets, including precious metals, cryptocurrencies, and real estate.


==> See my #1 Recommended Gold & Silver IRA Solution

==> See Top-5 Recommended Cryptocurrency IRA Solutions


That will be all for this article in which we have looked at what the differences between gold and bitcoin are. I hope you found it helpful and that you now know which of the two assets is worthy of your time, money, and resources. If you still have questions pertaining to today’s post, do not hesitate to let me know. All you need to do is drop them in the comments section and I will get back to you ASAP.

I wish you well,

Investor and Team Member at Gold Retired!

Filed Under: Crypto, Gold, Retirement

What is a Cryptocurrency IRA Account? What Are Its Benefits?

January 26, 2022 by Eric Leave a Comment

What is a cryptocurrency IRA account?

What is a cryptocurrency IRA account? Is it necessary to open one if you are investing in cryptocurrencies? Which benefits does it present that you should be well-conversant with? Welcome to today’s post in which we shall see what crypto IRA accounts have to offer, in a bid to equip you with sufficient information to help you maneuver this industry. 


P.S.

See our top-5 recommended cryptocurrency IRA service providers


Introduction 

Planning for your retirement will in most cases entail opening some type of retirement account, defining your investment strategy, and maybe even hiring a financial planner. Historically, this has meant turning to traditional financial institutions for such needs to be fulfilled.

 In the present day and time, however, many people believe that cryptocurrency is the way to go, in that it will play a very significant role in the exchange of value. This has in itself led to people thinking about investing in anything related to cryptocurrencies as part of the definition of the future financial world. 

One of the products that are perfectly bridging the gap that exists between the future world and the traditional financial world is a cryptocurrency IRA. A crypto IRA is essentially a modern spin on the regular IRAs you may have already come across. 

In the current world, having a financial product such as an IRA ( often perceived as traditional) being associated with cryptocurrencies ( which are quite digital by nature), may seem quite out of place. You will, however, be surprised to learn that investing in cryptocurrencies through an IRA may prove to be the best decision for you, more so due to the significant tax advantages that it presents. 


How does a cryptocurrency IRA work?

Like any Individual Retirement Account, a cryptocurrency IRA is essentially a retirement account in which one invests and stores their cryptocurrencies. One faces the same procedures and standards as if they were investing in other asset classes, such as stocks and bonds, including the tax benefits. 

There, however, maybe some differences in the case of the crypto IRA, such as:

  1. Storage – Your cryptocurrency assets are usually stored in a digital wallet 
  2. Crypto exchange – To purchase your cryptocurrency assets
  3. Custodian – You will need to work with a custodian who supports crypto assets.

What are the advantages of using a crypto IRA?

A major benefit of cryptocurrency IRAs that cannot be overemphasized is the future potential of cryptocurrencies as an asset class. Even with there being several legal and environmental concerns, as well as an uneven global attitude towards cryptos, there is no denying that cryptocurrencies have gradually increased in value, popularity, and legitimacy. 

If nothing tampers with this trend, then it is expected that the potential returns for those who invested in cryptos for their retirement years, could be huge. Besides the promise of high returns, there are several benefits of opening a cryptocurrency IRA. 

Tax Benefits 

For investors looking for ways to minimize cryptocurrency taxes, a cryptocurrency IRA is a good way to achieve this. The IRS classifies cryptocurrencies as property, hence your earnings are subject to capital gains tax. You can limit the amount of money you can pay in taxes, by opening a cryptocurrency IRA that takes either a Traditional or a Roth IRA structure.

It is worth noting that the timing of the reception of the tax benefits varies, depending on whether one opens their cryptocurrency IRA in a Roth or Traditional structure. With a traditional crypto IRA, you get immediate tax benefits, owing to the fact that the contributions to the crypto IRA are viewed as tax-deductible, hence you do not pay the taxes until getting to your retirement years, 

With a Roth cryptocurrency IRA, on the other hand, the contributions you make are not tax-deductible. You, however, get to receive the tax benefits down the road, by avoiding paying any capital gains taxes on the increase in value of your portfolio. 

Security

If you work with a reliable crypto IRA service provider, then you can rest assured that your crypto assets will be stored safely. Most of such companies usually invest in state-of-the-art storage facilities that are heavily guarded. Also, the crypto assets are stored in cold wallets, which are very secure, and that hackers cannot access easily. 

Diversification of your portfolioDiversification

A well-diversified portfolio that is designed to not only cater to your risk tolerance but to also meet your future and current goals, is a valid investment strategy. You can rely on a cryptocurrency IRA alongside your other assets, or your traditional IRA, to diversify your portfolio and to increase your income earning potential. 

**You might also want to consider to open a gold & silver IRA to help you achieve the same objective. 


Are there any risks of investing in cryptos through a crypto IRA?

Investing in cryptos through a crypto IRA or through any other approach, will more often than not present the same types of risks. It is good to be aware of those risks so that you do not get surprised when your crypto holdings disappoint you. 

Some of the common risks you will encounter as a crypto IRA owner include:

  • High fees
  • Limited use case in comparison to other assets 
  • Volatility 

Volatility 

 Volatility happens to be the biggest menace when it comes to investing in cryptos. The decentralized nature of these digital tokens makes the path of their prices highly unpredictable. It can take something as minor as a single tweet from one person to send the prices of cryptos soaring or tanking. This is true for most crypto assets, hence the need to diversify one’s crypto assets. Doing this ensures that bad press for a certain crypto company or the entire crypto sector, will not tank your portfolio.

If you, however, fail to take the need to invest strategically seriously, then a bad day could mean massive losses, that could lead to you never attempting to invest in cryptos again. 


Frequently Asked Questions on What is a crypto IRA Account? 

1. How can I fund my future using a cryptocurrency IRA Account?

To invest in cryptocurrency for your retirement years, then you need to open a self-directed IRA which supports crypto investments. A self-directed IRA that mainly allows investors to invest in cryptos is referred to as a cryptocurrency IRA. All you need to do is to contact the support staff at any reliable crypto IRA service provider to get started. Most of these companies have very streamlined services which make the onboarding process for new clients stress-free. 

Are cryptocurrency IRA accounts tax-advantaged? 

Yes. Like other types of IRAs, cryptocurrency IRAs are also tax-advantaged. Depending on whether you open a Traditional crypto IRA or a Roth crypto IRA, you can either pay the taxes on your contributions or upon retiring. This is better than having to pay capital gains taxes on the profits you make during your trades. A crypto IRA is to a great extent, the best option for all crypto investors who are out to minimize crypto taxes.

Which assets can I invest in a crypto IRA account?

This depends on the IRA service provider that you are dealing with. Some companies will only allow investors to exclusively hold cryptocurrencies, while others may allow you to hold cryptocurrencies and other assets. This means that you need to confirm whether the company you intend to work with allows for one to invest in other asset classes. 

Is a 401(k) a cryptocurrency IRA?

No. Unless in very special cases, your employer-sponsored 401(k) will not allow for you to invest in other assets besides paper assets. You may, as such, have the opportunity to invest in crypto stocks, but not cryptos as assets. To invest in cryptos, you will need to rollover your 401(k) to a cryptocurrency IRA. 


Recommendation!

You are a smart person and I am absolutely sure that you will find the right company, that suits your needs the best and that you feel comfortable doing business with. Please ALWAYS make sure to do your research and COMPARE different companies against eachother, especially when it comes to fees. You might be surorised how much it can differ between the top IRA providers out there!

Read our review of the best crypto IRA service providers below:

RecommendedSee Gold Retired’s Top-5 Recommended Bitcoin IRAs

or

See Gold Retired’s Top-5 Recommended Gold & Silver IRAs


That will be all for this article on what a crypto IRA account is all about. I hope you gained some insights that will help you get started on the right foot if you do decide to open your crypto IRA today. If you have any questions pertaining to today’s topic, drop them in the comments section, and I will get back to you ASAP.

I wish you well, 

Eric, Investor and Team Member at Gold Retired!

Filed Under: Crypto, Retirement

Which is The Best Cryptocurrency Tax Calculator by Features?

January 13, 2022 by Eric Leave a Comment

Which is the best cryptocurrency tax calculatorWhich is the best cryptocurrency tax calculator?  What are its features? Is there a free calculator that you can use for all your crypto tax calculation needs? Welcome to today’s post, in which I will present information that I believe will be useful to you as a cryptocurrency owner. Read on to find out more.


P.S.

See my: Top-5 Recommended Cryptocurrency IRA Service Providers


Intro

More and more people are entering the cryptocurrency space by the day, lured by the benefits that these decentralized currencies present. We have already seen people rise to millionaire and billionaire status simply by buying and selling cryptos. It can, unfortunately, be quite hard to successfully determine how much taxes you owe the taxman after trading in cryptos.

If you are a day trader, for instance, you do hundreds or thousands of transactions per year, and attempting to keep a record of the profits and losses you make annually may be quite challenging. Even for large companies that trade on behalf of other clients, the calculation of taxes may be a very cumbersome task.

You can, however, turn to a reliable cryptocurrency tax calculator software, to simplify things for you. A good crypto tax calculator has the capability to sync transactions across all your wallets and cryptocurrency exchanges and can calculate all your capital gains and taxes. It can also enable you to access tax reports that you can utilize during the filing of your taxes.


The Best Cryptocurrency Tax Calculator –Available options

  1. Koinly – The Best Option based on Ease of Use

Koinly is one of the best cryptocurrency tax calculators around based on the ease of use. This software easily connects with the users’ wallets, exchanges, blockchain addresses, as well as crypto services, to reveal the amount of money has one across those platforms.

Top Features

  • It can connect to over 350 cryptocurrency exchanges, over 70 crypto exchanges, and over 10 blockchain addresses.
  • Can track your crypto asset holdings across all your assets and accounts, and enable you to view the real-time details of your profits & losses, as well as your tax liabilities.
  • Can automatically sync data from several sources.
  • Allows you to export transaction data to other tax software such as TurboTax and TaxAct.

How much do you pay to use Koinly?

The amount of money you pay to use this tax calculator depends on your needs, as illustrated below:

  • Newbies/beginners – $49 per tax year
  • Hodler – $99 per tax year
  • Trader- $179 per tax year
  • Pro – $279 per tax year
  1. TokenTax – The best option for easy integration with a variety of cryptocurrency exchanges

This is a tax software that’s purposely designed for the computation of complicated taxes in situations where one has several crypto exchanges. It is highly automated to ensure that even those simple computations appear very easy to deal with.

Top features of this software include:

  • Sufficient audit assistance
  • Supports every type of crypto exchange
  • Tax-loss harvesting
  • In complicated situations, you can get help from a cryptocurrency accountant
  • Calculates and files taxes
  • Capable of integrating automatically with all exchanges to gather necessary data.

Fees charged for using TokenTax (tax reporting)

  • Basic plan – $65 per tax year
  • Premium – $199 per tax year
  • Pro – $799 per tax year
  • VIP – $2,500 per tax year
  1. ZenLedger – Best plan for those looking for crypto tax calculator with free plan

ZenLedger is a popular cryptocurrency tax software that supports integration with over 400 exchanges, and over 30 DeFi Protocols. It currently has more than 15,000 users, who are mostly investors and tax professionals.

Features of ZenLedger

  • Has tax-loss harvesting tools
  • Unified accounting
  • Allows for integration with TurboTax
  • It can calculate cryptocurrency profits and losses simply by accessing your transaction history.

Fees charged for using ZenLedger

  • Free plan – $0
  • Starter plan – $49 per year
  • Premium – $149 per year
  • Executive – $399 per year
  1. Accointing – Best for those looking for tax software with the best portfolio analysis tools

Accointing exists as a widely-recognized cryptocurrency tracking and tax reporting software that offers one the tools with which they can track the market, analyze their portfolio, and get the tax reports necessary for the filing of taxes.

The main feature of Accointing

  • It has tools to analyze one’s portfolio (so that one can make better moves in the future).
  • Tax-loss harvesting
  • Allows investors to explore the cryptocurrency market.
  • It can calculate one’s gains and losses
  • Creates tax reports for you, so that you can download them and use them in the filing of taxes

Fees charged for using this tax software

  • Trader – $199
  • Hobbyist – $79
  • Free Tax – $0
  • Pro – $299
  1. TaxBit – Best option for those looking for a unified tax experience

TaxBit was created by CPAs and tax attorneys, with the objective of helping anyone who would like to turn their 1099 into cryptocurrency tax reports and to help enterprises issue their 1099s effectively.

Top features of TaxBit

  • Tax-loss harvesting supported
  • Has portfolio performance analysis features
  • Powerful dashboard displaying investors’ asset balances, their unrealized profits & losses, as well as their tax position.
  • Capability to export transaction reports

Fees charged for using TaxBit

  • Basic – $50 per year
  • Prus – $175 per year
  • Pro – $500 per year

As you can see, there are several cryptocurrency tax calculators that you can rely on, depending on what you are looking for. As opposed to trying to compute taxes on your own, you can try out the option that best meets your needs, as you continue enjoying the proceeds from your trades. Talking of which, have you added cryptocurrencies to your retirement investment portfolio? You can get started by looking at what the recommended companies below have to offer, as you prepare to open your crypto IRA.

Bitcoin IRA companies

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That you for making it to the end of this article on which the best cryptocurrency tax calculator is. I hope that you found it helpful and that you will now know which option to turn to. If you have any questions regarding today’s topic, let me know by dropping them in the comments section so that I can back to you ASAP.

I wish you well,

Eric, Investor and Team Member at Gold Retired!

Filed Under: Crypto

At What Time Does the Stock Market Open In Different Zones?

January 11, 2022 by Eric Leave a Comment

At what time does the stock market open?

At what time does the stock market open? Is there any reason why you should be aware of the opening and closing times of the stocks market? Join me in today’s very interesting article, in which we shall cover an important aspect of stock markets that many people overlook. Read on to find out more about this topic.


P.S:

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Stock market hours in the U.S. and Canada

The two main exchanges in the U.S are the New York Stock Exchange (NYSE) and NASDAQ. The two have their headquarters in New York City, and are usually open from Monday through Friday, from 9:30 am to 4 pm EST. They are usually closed during federal holidays per year, which include:

  • New Year’s Day
  • Martin Luther King Jr. Day
  • President’s Day
  • Good Friday
  • Christmas
  • Thanksgiving
  • Memorial Day
  • Independence Day
  • Labor Day

The Toronto Stock Exchange, popularly referred to as TMX Group, serves Canadian traders and is headquartered in Toronto. It is usually open from 9:30 am to 4 p.m. EST, and closes for 10 holidays every year, which include:

  • New Year’s Day
  • Family Day
  • Canada Day
  • Labor Day
  • Victoria Day
  • Christmas day
  • Boxing Day
  • Good Friday
  • Civic Holiday
  • Thanksgiving

This exchange also has modified hours during Christmas Eve.


Stock Market Hours in Europe

The top-recognized exchanges in Europe include The London Stock Exchange Group, the SIX Swiss Exchange, and Euronext. These are open at different times of the day, as we shall see shortly.

Euronext is usually open between 8 a.m. and 5.40 p.m. CET. This Amsterdam-headquartered firm closes for 6 holidays every year, which are:

  • Christmas Day
  • Boxing Day
  • Labor day
  • Good Friday
  • New Year’s Day
  • Easter Monday

The working hours on Christmas Eve and New Year’s Eve are also usually modified.

The London Stock Exchange Group opens at 8 a.m. and closes at 4:30 p.m. GMT/BST. It remains operational throughout, with the exception of 8 holidays per year, which are:

  • Easter Monday
  • New Year’s Day
  • Good Friday
  • Christmas
  • Boxing Day
  • 1 Summer bank holiday
  • 1 spring bank holiday
  • Early May Bank Holiday

The working hours on both Christmas Eve and New Year’s Eve are also usually modified.

With the SIX Swiss Exchange, business begins at 8:30 a.m. and closes at 5:20 p.m. This exchange remains closed on the following holidays every year:

  • Ascension Day
  • Christmas
  • Boxing Day
  • New Year’s Eve
  • Whit Monday
  • New Year’s day
  • Good Friday
  • Easter Monday
  • Christmas Eve

The Stock Market Hours in Asia

The exchanges in Asia set themselves apart from U.S. and Canada-based exchanges in the way they close for lunch. The Tokyo Stock Exchange, for instance, opens at 9 a.m. to 11.30 a.m. and 12:30 p.m. to 3 p.m. Japan Standard Time (JST).

The Tokyo Stock Exchange remains operational throughout, with the exception of 22 holidays per year, including:

  • New Year’s Day
  • Market Holiday (December 31)
  • Market holiday (January 2)
  • Market holiday (January 3)
  • Coming of Age Day
  • Labor Thanksgiving Day
  • Autumnal Equinox
  • Mountain Day
  • National Foundation Day
  • Vernal Day
  • Showa Day
  • Emperor’s Birthday
  • Marine Day
  • Greenery Day
  • Constitution Memorial Day
  • Respect for the Aged Day
  • Sports Day

China’s stock exchanges Shanghai Stock Exchange (headquartered in Shanghai), and Shenzhen Stock Exchange (headquartered in Shenzhen) open for business at 9:30 a.m. to 11:30 a.m. and from 1 p.m. to 3 p.m. China Standard Time (CST). The two stock exchanges do not open on 15 holidays every year, which include:

  • 5 days during the Spring Festival in February
  • Qingming Festival
  • New Year’s Day
  • 4 days for the National Days in October
  • Dragon Boat Festival
  • Mid-Autumn Festival

Another popular stock exchange in Asia is the Hong Kong Stock Exchange, which has its headquarters in Hong Kong. It is usually open from 9:30 a.m. to 12 p.m. and from 1 p.m. to 4 p.m. Hong Kong Time (HKT). The exchange remains closed for 17 holidays each year, which include:

  • 2 days for the Christmas
  • New Years Day
  • Three National Days
  • Dragon Boat Festival
  • Easter Monday
  • Lunar New Year
  • Qingming Festival
  • Good Friday
  • Special Administration Region Establishment Day
  • Labor Day

Mumbai-headquartered Bombay Stock Exchange begins business at 9:15 a.m. and closes at 3:30 p.m. Indian Standard Time (IST). This exchange does not open on 14 holidays each year, which include:

  • Gurunanak Jayanti
  • Christmas
  • Republic Day
  • Mahatma Gandhi Jayanti
  • Dussehra
  • Independence Day
  • Ram Navami
  • Independence Day
  • Ganesh Chaturthi
  • Diwali
  • Baba Saheb Ambedkar
  • Mahashrivati
  • Bakri Id
  • Good Friday
  • Id-Ul-Fitr

Can you trade after the market closes?

Yes. Investors are allowed to purchase and sell stocks even in the hours before the market opens and after it closes. The hours after the market closes are known as after-hours, while the hours before it opens are known as pre-market hours. Combined, the pre-market and after-hours makeup what is referred to as extended-hours trading.

Whereas investors are not limited from trading in the weekday mornings and evenings, they cannot trade during weekends, with the exception being whether the international exchange has already commenced business in the trader’s time zone. With NYSE for instance, customers can still trade from 7 a.m. to 9:30 a.m., as well as from 4 p.m. to 8 p.m. NASDAQ on the other hand allows customers to do pre-market trading from 4 a.m. to 9:30 a.m. Traders can also take advantage of the after-hours trading, which happens from 4 p.m. to 8 p.m.

While most of the trading goes on during business hours, there is a significant number of traders who make most of their moves during the after-hours and pre-market hours. In the U.S., for instance, a lot of customers make adjustments to their positions in the after-hours since most public companies usually make known their quarterly after NYSE has closed at 4 p.m.


Are you looking for a way to get started with cryptocurrency investments without having to learn how to trade? Open a cryptocurrency IRA today with a reliable company and get started today.Bitcoin IRA companies

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Thank you for making it to the end of this article in which we have discussed “at what time does the stock market open?”. I hope you learned a thing or two about this very interesting topic, and that you will have some insights to share with those who will engage you in a discussion about it. Let me know if you have any more questions about today’s topic – drop them in the comments section and I will get back to you ASAP.

I wish you well,

Eric, Investor and Team Member at Gold Retired!

Filed Under: Crypto, Trading

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