You can afford to invest in Bitcoin.
- Do you have $10- $20K (or more) sitting around in an old 401K or Roth account?
- Do you have a small side-business? (or can you create one?)
- Do you want to diversify between cryptocurrency, futures, stocks, gold, forex and more?
- Would you like to be able to invest $50K+ every year tax free? (seriously, you can!)
Did you know that anyone with a side business can manage and/or contribute to a 401K plan? Since the mid-2000’s the United states tax code allows for self-managed 401K plans for the soloprenuer (One-Participant 401(k) Plans). There are caveats, of course, but overall, the process is fairly simple.
In a few simple steps you could be on your way to investing in cryptocurrency.
- Start a business and/or a side-gig.
- It does not need to be your main source of income
- You do not need to incorporate
- you cannot have full-time W-2 employees (spouse OK)
- Do all of the necessary IRS paperwork for your Trustee “organization.”
- The easiest way is to use a servicer, who can provide basic structure for your trust and other necessary components (I prefer Nabers, which is self-help ONLY)
- Some services provide more hand holding than others, but the trade-off is less control and higher costs.
- Not all solo 401K servicers assist or support cryptocurrency.
- Once you are filed:
- Open a bank account specifically for your 401K trust
- Transfer old 401K accounts OR start contributing from proceeds from your side business or start up
- Transfer these monies into a Trust-friendly Exchange (Kraken is one that supports rust accounts)
- Buy and HODL (after all, Bitcoin is for the long haul
The process can be a little confusing and the prices range from $500 DIY to $1500 or more plus % of investment fees for full services. The whole process from start to buying crypto with you account can take as little as 2-4 weeks.
CryptoCoin Concierge believes in teaching you to manage on your own, saving you long term costs and fees. We provide assistance with your onboarding, money transfers, paperwork and cryptocurrency investing that are not otherwise provided by the servicer giving you everything you need at the lowest cost.
The startup cost for the servicer platform may be as little as $500 for the 1st year and $100 thereafter. We charge between $300-$500 for a one time multi-session (3-4, 1 hour sessions) service to help you complete the process in full compliance. Once you are familiar and up and running, you only pay the $100 maintenance costs to your servicer each year.
Now you see you CAN afford Bitcoin. What are you waiting for? Let’s get started!