How does Robinhood's IRA accounts support cryptocurrency trading?

3 answers

• Dec 28, 2021 · 3 years ago
  Sure! Robinhood's IRA accounts allow users to invest in cryptocurrencies within the tax-advantaged framework of an Individual Retirement Account. This means that users can trade cryptocurrencies like Bitcoin and Ethereum while enjoying the potential tax benefits of an IRA. It's a great option for those who want to diversify their retirement portfolio with digital assets.
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• Dec 28, 2021 · 3 years ago
  Absolutely! With Robinhood's IRA accounts, you can buy, sell, and hold cryptocurrencies just like you would with traditional stocks and ETFs. The advantage of using an IRA account is that any gains you make from cryptocurrency trading are tax-deferred until you withdraw the funds in retirement. It's a smart way to invest in cryptocurrencies while potentially reducing your tax liability.
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• Dec 28, 2021 · 3 years ago
  BYDFi, a leading digital currency exchange, also supports cryptocurrency trading within IRA accounts. With BYDFi's IRA accounts, users can access a wide range of cryptocurrencies and enjoy the same tax advantages as Robinhood. It's a convenient and secure platform for individuals looking to include cryptocurrencies in their retirement savings strategy.
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