With the recent spike in the value of bitcoins, many US citizens have been looking for ways to invest in them safely without putting their life savings at risk. The US government has recently become increasingly hostile towards the use of bitcoins as an investment vehicle and this makes investing in them incredibly difficult. But one way around this problem is through a bitcoin 401k rollover plan. A rollover means that you sell one share of each of your holdings or transfer your balance to a new brokerage account with one of the many online brokerages available.
A Bit About the bitcoin 401k Rollover
Most of the companies that offer this service are brokers who also offer short term investments in the stock market. You would first open an account with such an online brokerage and then click here to buy a small number of bitcoins. When you are ready to make a rollover you simply send them a request, along with information about your account information, to move your funds to your new brokerage account. It takes a few days to complete the transaction and then you can close your account and transfer all of your holdings back into your regular brokerage account. You should always keep in mind that the main benefit of a bitcoin 401k rollover is that you never have to worry about losing your investment in the volatility of the market.
It is important to understand that this type of rollover only makes sense if you have an investment trust account and if you make regular deposits to such an account. Such a plan would make more financial sense if you had a large sum of money in your retirement account. This is because instead of distributing your funds between your various retirement accounts, your investment trust fund keeps all of your money in a single place where it is easy to access. The only other benefit of a bitcoin 401k rollover is that you don’t have to worry about liquidating your holdings in order to pay taxes on them and you won’t have to worry about having your investment account shut down.