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Did you know that holding cryptocurrency, like Bitcoin or Ethereum, inside of your NuView Trust Self-Directed Account gives you full control over your investments while eliminating capital gains tax? Once your account is established, you have the freedom to invest and trade cryptocurrency in a quick and simple manner!
What is Cryptocurrency?
Cryptocurrency is simply a digital version of money that uses cryptography for security. It’s a digital asset designed to be used as a medium of exchange between two peers. The key feature of a cryptocurrency is that it is organic in nature; it is not issued by any central bank or authority, keeping it immune to government interference and/or manipulation. Typically, cryptocurrency is stored within a digital wallet secured by a private key.
Why Invest in Cryptocurrency?
Cryptocurrency is the fastest-growing asset class in history – further proving that digital assets should not be overlooked when developing a diversified investment strategy. Some of our most successful clients are invested in a well-diversified digital asset portfolio.
Cryptocurrency is considered an “off the grid” investment – making it harder for governments to manipulate it like other currencies. Therefore, many investors use it as a hedge or insurance policy to protect from inflation and Wall Street manipulation.
Types of Cryptocurrency
While Bitcoin is highly-favored, there is a wide variety of Cryptocurrencies you can invest in using your self-directed IRA, including (but not limited to):
Bitcoin
Bitcoin Cash
Ethereum
Litecoin
USD Coin
Ripple
Dogecoin
How can I start investing in Cryptocurrency using a Self-Directed IRA?
NuView currently provides 2 options when it comes to Cryptocurrency investing.
Option 1: Checkbook Control IRA
With this process, you set up a single-member LLC in the name of your IRA. This is what is known as a checkbook control IRA. Checkbook Control allows for instant access of your retirement funds allowing you to direct investments in any crypto trading platform you choose. Some of the most common platforms are Coinbase, Gemini, Robinhood, and eToro. With a checkbook control IRA you can trade cryptocurrency 24/7. Please be aware that setting up an LLC may incur additional costs.
Open a NuView Trust account.
Fund your account via contribution, rollover, or transfer.
Setup a single member LLC and operating agreement with your IRA along with a bank account for the entity.
Submit a purchase authorization form to NuView to fund your LLC.
Identify the cryptocurrency exchange you wish to use and setup a digital wallet.
Link your wallet to the bank account and purchase the currency of your choice.
Option 2: Invest directly with your IRA
You can set up a trading profile with Cboe in the name of your IRA. NuView will deposit your IRA funds directly into your Cboe account and you can immediately begin trading cryptocurrency. Cboe gives you the ability to buy and sell certain cryptocurrencies without the necessity of a Checkbook Control LLC.
Open a NuView Trust account.
Fund your account via contribution, rollover, or transfer.
Setup a trading profile with Cboe.
Submit a purchase authorization for NuView to fund your Cboe account.
Start trading cryptocurrency on the Cboe trading platform.
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