Cryptocurrency

Did you know that holding cryptocurrency, like Bitcoin and 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 exactly is a Cryptocurrency?

A 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. Bitcoin, created in 2009, was the first decentralized cryptocurrency.

Why invest in Cryptocurrency?

Cryptocurrency is becoming more than just a digital currency. It has now reached a level where it is being referred to as a digital asset. Many investors are speculating that cryptocurrencies will be highly valuable. This is due to the blockchain technology used in cryptocurrencies which makes it extremely secure.
Many investors also use it as a hedge or insurance policy to protect from inflation, Wall Street manipulation, and the amount of money being printed by the Federal Reserve. It’s considered an “off the grid” investment – making it harder for governments to manipulate it like other currencies.

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.

Option 2: Invest directly with your IRA
You can set up a trading profile with ErisX in the name of your IRA. NuView will deposit your IRA funds directly into your ErisX account and you can immediately begin trading cryptocurrency. ErisX gives you the ability to buy and sell certain cryptocurrencies without the necessity of a Checkbook Control LLC.