Sunday, July 30, 2017

Bitcoin IRA growing as an investment and retirement vehicle for the millennial generation

When you combine a technology based asset like Bitcoin with the ease of an IRA, it suddenly becomes a no-brainer for the millennial generation who wants to invest in something unique without having to do the legwork of researching financial products.

The Bitcoin IRA is suddenly becoming a new go-to option for young investors who love dealing with high risk while at the same time being able to put their money into an investment vehicle where all they have to do is 'set it and forget it'.

Thousands of American investors as young as 20 years old are investing their hard-earned money in Bitcoin despite the high risks. 
Duke University finance professor, Campbell Harvey, has warned that the kind of price volatility facing cryptocurrencies is very brutal due partly to the reason that they are not collateralized.
Harvey says: 
"I'm worried that people will put too much of their retirement in an asset like this. It's a very small piece of the market right now and it's extremely volatile. To put this into your savings, you need to be willing to lose everything. If you put your retirement savings into the stock market, there is almost no chance that you're going to lose everything." 
Currently, platforms like Bitcoin IRA enables their investors the tax advantages of an individual retirement account (IRA) and the return of a high-risk, high-reward alternative asset class. 
Similar to traditional IRAs in terms of its mode of operations, but instead of being financed by cash, gold and bonds, it is bankrolled by Bitcoin. – Coin Telegraph
Contrary to what the mainstream business community is telling the public, the majority of Americans are not playing in the equity markets outside of a small percentage who hold some or all of their retirement monies in a mutual fund.  And with bonds and real estate no longer being feasible tools to try to grow one's wealth due to low interest rates and spiraling costs/prices, cryptocurrencies, and the new and upcoming products tied to these forms of virtual money, are extremely enticing, especially to the younger investor who doesn't really see the risk in their investing, and who loves the experience of buying into a technology based asset.

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