Learn How Crypto Solo 401k Provides Access to Many More Exchanges vs. Crypto IRA and Why this Matters

Harvard Law Attorney George Blower reviews how a Crypto Solo 401k offers access to many cryptocurrency exchanges and the related advantages of a Crypto Solo 401k over a Crypto IRA.

Crypto IRA Requires Third Party Trustee

  • IRS Rules require that all IRA accounts be administered by a third-party bank or trust company.
  • For the Crypto IRA investor this effectively means that the Crypto IRA provider will have access to your account. 
  • If the Crypto IRA provider is hacked, this could put your crypto retirement holdings at risk

Business Owner May Serve as Trustee of Crypto Solo 401k

  • Per IRS, the trustee of of a 401k plan may include the business owner (i.e. you).
  • For the Crypto Solo 401k investor this means that the Crypto Solo 401k provider will NOT have access to your account. 

Advantage of Crypto Solo 401k vs Crypto IRA – Choose Your Own Exchange

  • Crypto IRA providers typically offer only one designated platform or exchange
  • With Crypto Solo 401k, access to many different exchanges including DeFi

Why it is important to have access to many Crypto Exchanges?

With access to many cryptocurrency exchanges, the Crypto Solo 401k can enjoy additional benefits including:

  • Security
  • More Crypto Storage Options
  • Lower Trading Fees
  • Access to More Coins
  • Plus additional benefits generally of a Crypto Solo 401k including Higher Tax Deductions, Higher Roth Contribution Limits & Alternative Investment Options

Continue the discussion in our My Community where our Owners host a daily LIVE webinar where you can ask questions and you can post questions in our forums: Cryptocurrency Forum

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About George Blower

I have the privilege of educating our clients about our products and services so that they can make informed and confident decisions about their financial future. Prior to joining My Solo 401k Financial, I served as the general counsel for a subsidiary of a Fortune 500 financial services company. Learn more about George Blower and My Solo 401k Financial >>

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