Replying to Avatar BITwise 🐳 >>= RIGHTish

I found an old IRA account of mine that I completely forgot about. I want to convert it to Bitcoin but don't want to lose its tax advantaged status. Anyone know the best places to move the money? I know fidelity offers bitcoin but... I'm not certain it's not just paper bitcoin. Is there a better solution at the moment? Rather not go the GBTC route.

Or maybe it's worth taking the tax hit and just convert to self custody bitcoin...
Avatar
Bohemia 2y ago

Is this where unchained capital would work? I don't know their specific solutions but they might have one for this scenario

Reply to this note

Please Login to reply.

Discussion

Avatar
BITwise 🐳 >>= RIGHTish 2y ago

I'll take a look. Thanks!

Avatar
BITwise 🐳 >>= RIGHTish 2y ago

It looks like with unchained, I control the keys. That right there might be reason enough...

But they charging 0.5% conversion fee, $995 one time setup fee, and $250/yr maintenence from yr2 onwards...

Anyone know what's the tax penalty in cashing out an IRA?!

Avatar
Bohemia 2y ago

Yikes