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Cryptocurrency in a ROTH IRA?
Posted on 5/29/21 at 8:39 am
Posted on 5/29/21 at 8:39 am
Anyone found a custodian that does this that they recommend?
I was using WeBull which trades crypto and has IRA options, but doesn't allow for crypto within their IRAs which I found disappointing.
I was using WeBull which trades crypto and has IRA options, but doesn't allow for crypto within their IRAs which I found disappointing.
4
Posted on 5/29/21 at 8:45 am to PNW_TigerSaint
You can buy grayscale eth or btc in your Roth. Not sure if you will be able to find one where you can invest in altcoins.
Posted on 5/29/21 at 8:58 am to Eric Nies Grind Time
Thanks for the rec. I didn't know about the grayscale options. Are these pure etherium and bitcoin plays? There are a lot of crypto coins out there so I am not looking for funds that are a baskets of VCs but just BTC or ETH.
Posted on 5/29/21 at 9:04 am to PNW_TigerSaint
Yes gbtc is solely Bitcoin and Ethe is solely Ethereum.
Posted on 5/29/21 at 9:25 am to PNW_TigerSaint
I would just buy BRPHF for my crypto exposure in a Roth.
Posted on 5/29/21 at 9:52 am to GeneralLee
Thanks
Going to start a position
Going to start a position
Posted on 5/29/21 at 9:56 am to thejudge
I would hold off, I think you can buy it for $10-12 here in a month or so if bitcoin goes back into the $20-25K range. I am short term bearish but long term bullish on BRPHF. They are uplisting to NASDAQ later this year which helps limit the downside risk relative to other crypto stocks.
Posted on 5/29/21 at 9:58 am to PNW_TigerSaint
Grayscale has several offerings. GBTC (bitcoin) LTCN (litecoin). ETHE (ethereum) ETCG (ethereum classic etc. Galaxy Digital is also a good crypto play as mentioned above (BRPHF). Also look at the miners. With the crackdown in China, this can only help other miners pick up the slack. RIOT, MARA, HUTMF, HVBTF, MGTI. Last but not least is Voyager (VYGVF) and Coinbase (COIN). Both have potential upside as crypto becomes more popular.
Posted on 5/29/21 at 10:05 am to GeneralLee
quote:
I would hold off, I think you can buy it for $10-12 here in a month or so if bitcoin goes back into the $20-25K range. I am short term bearish but long term bullish on BRPHF. They are uplisting to NASDAQ later this year which helps limit the downside risk relative to other crypto stocks.
100% agree. I think we are going to trade sideways the next several months, possibly going lower. I do think after that, bitcoin will be back on track to reach all time HI’s. Summer is usually slow time for crypto. Dollar cost average on anything you buy! Can’t stress this enough, esp with crypto.
Posted on 5/29/21 at 10:08 am to mach316
Yep we'll see! My guess is that $65K was the peak for this cycle, so I'm approaching it from a perspective of a entering in at a comfortable buying price to get through the next crypto winter. With BRPHF, I'm betting eventually the market will figure out that they make money regardless of BTC price movements, and also how cheap they are compared to Coinbase for example.
Posted on 5/29/21 at 10:26 am to GeneralLee
Sounds good. I'll start the reading and place on watchlist
Posted on 5/29/21 at 10:36 am to mach316
quote:
Summer is usually slow time for crypto.
Sounds like summer is the time to buy crypto
Posted on 5/29/21 at 4:06 pm to Powerman
Waiting patiently for that last dip lol.
Posted on 5/30/21 at 3:09 pm to mach316
I love investing in companies that make money as crypto swings in either direction. The more volatility, the more money a company like Voyager makes.
Posted on 5/31/21 at 4:16 am to PNW_TigerSaint
I’m probably going to miss the boat on crypto but I just don’t have the stomach to invest in that stuff. I’m way more of a mutual fund kind of investor than a crypto kind of investor. I know many are making a killing off of crypto but I just don’t have the balls to do it.
Posted on 5/31/21 at 7:31 pm to TDsngumbo
Nothing wrong with that, but as you know "scared money don't make money"
Posted on 6/1/21 at 7:52 am to mach316
quote:
Grayscale has several offerings. GBTC (bitcoin) LTCN (litecoin). ETHE (ethereum) ETCG (ethereum classic etc.
Why did you not mention GDLC?
quote:
Fund Components per Share‡
Bitcoin 67.3% 0.00046450 BTC
Ethereum 29.1% 0.00286594 ETH
Bitcoin Cash 1.3% 0.00046699 BCH
Litecoin 1.2% 0.00165705 LTC
Chainlink 1.1% 0.00970303 LINK
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