5 Reasons to Start Investing In Cryptocurrency For Your IRA
Cryptocurrency is an often talked about yet little understood investment opportunity.
For those who want to start investing in the world of cryptocurrency but don’t know the intricacies of how cryptos work, we recommend you use a crypto IRA.
Continue reading the article below to learn more about crypto IRA and if you are interested, consider Viva Capital to get started with crypto IRA.
Cryptocurrency Has A Lot of Room For Growth
No commodity has grown more in the past decade than cryptocurrency, specifically Bitcoin. And the good news: the trend will more than likely continue in the next ten years as we move more and more to a completely digital world. Investing in cryptocurrency can see your initial investments grow exponentially when you are ready to retire.
Cryptocurrency is Unaffected By Inflation
Lately, inflation is the big buzzword, especially after all the stimulus checks sent out during quarantine. With the extra cash being rapidly printed, the dollar’s value can decrease rapidly, with long-lasting impacts on other markets. However, cryptocurrency is unaffected by the rise of inflation and can even increase in value as people lose trust in the dollar.
The Crypto Market Is Independent Of The Stock Market
Your typical IRAs will invest in your traditional markets, such as the stock market, bonds, mutual funds, etc. The reality is that most of these markets are interconnected, so they can all go down when one goes down. However, just as cryptocurrency is unaffected by inflation, it also operates separately from the stock market and other standard investment opportunities. Similarly, it can go up in value if those alternatives go down. If you are trying to diversify your portfolio to protect yourself from an economic downturn, cryptocurrency is a must.
Staking And Other Methods Allow For Passive Income
Many newcomers believe that investing in cryptocurrency is as simple as buying a coin and hoping the value goes up by the time you are ready to sell. And while that is a big part, there are also numerous options to make money passively while holding on to a coin. These can be complicated subjects, and if you don’t have the interest or capacity to learn everything there is to know about staking, master nodes, etc., A Crypto IRA will handle all these for you.
Just imagine that each cryptocurrency is its microeconomy with different ways to earn money through them.
New Coins Are Being Added
New coins are being created every day, and while not all of them are worth your time and money, occasionally, some crop up with a sound system and platform. As these coins’ reputation and histories grow and their staking becomes more robust, they will be added to a Crypto IRA portfolio.
Start Your Crypto IRA Today
If you already have an IRA or some form of an investment account and are looking to diversify your portfolio to protect you from an economic downturn, a crypto IRA is what you need. With a crypto IRA, you don’t have to learn everything about crypto to invest in this exponentially growing commodity.