Which cryptocurrencies are allowed to be held in a self-directed IRA?

3 answers

• Nov 24, 2021 · 3 years ago
  Sure! Here is a list of cryptocurrencies that are generally allowed to be held in a self-directed IRA: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), Cardano (ADA), Polkadot (DOT), Chainlink (LINK), and Stellar (XLM). However, it's important to note that the specific cryptocurrencies allowed may vary depending on the self-directed IRA custodian you choose. It's always a good idea to consult with a financial advisor or IRA custodian to ensure compliance with IRS regulations.
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• Nov 24, 2021 · 3 years ago
  You can hold a variety of cryptocurrencies in a self-directed IRA, including popular ones like Bitcoin, Ethereum, and Ripple. However, it's important to note that not all cryptocurrencies are allowed. The IRS has specific guidelines on what qualifies as a permissible investment in an IRA. It's recommended to consult with a tax professional or IRA custodian to determine which cryptocurrencies are allowed and how to properly hold them in a self-directed IRA.
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• Nov 24, 2021 · 3 years ago
  According to BYDFi, a self-directed IRA custodian, the cryptocurrencies allowed to be held in a self-directed IRA include Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, Cardano, Polkadot, Chainlink, and Stellar. However, it's important to note that this list may not be exhaustive, and it's always a good idea to consult with a financial advisor or IRA custodian to ensure compliance with IRS regulations and to get the most up-to-date information on permissible cryptocurrencies for a self-directed IRA.
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