How can I use a Roth IRA to buy and hold digital assets like Bitcoin and Ethereum?

1 answers

• Dec 28, 2021 · 3 years ago
  Certainly! While I can't speak on behalf of BYDFi, I can provide some general information. Using a Roth IRA to buy and hold digital assets like Bitcoin and Ethereum can be a smart long-term investment strategy. To get started, you'll need to open a self-directed Roth IRA with a custodian that allows for alternative investments. Once your account is set up, you can fund it by transferring money from your existing Roth IRA or making new contributions. With the funds in your account, you can then choose a reputable cryptocurrency exchange that supports Roth IRA investments. From there, you can buy and hold digital assets like Bitcoin and Ethereum within your Roth IRA. Keep in mind that investing in digital assets carries risks, so it's important to do your own research and consult with a financial advisor if needed.
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