Why I Love Alto's Crypto IRA
I believe that everyone who can fund an IRA should fund an IRA.
I'm cautious when it comes to the size of my crypto allocations. I grew up in the stock market and like the long-term reliability of the tried-and-true buy-and-hold strategy embraced by the greats like Warren Buffett.
Buffett is famously opposed to cryptocurrency, but Buffett is also 90 years old. He worked his whole life to become the world's greatest stock market investor and is understandably disinterested in expanding his circle of competence to include this century's newest asset class.
Worry-free Volatility and the Tranquility of Simplicity
Given my individual risk profile and investment horizon, I feel comfortable allocating ~5% of my retirement portfolio in foundational currencies like BTC and ETH.
I like that I can buy and sell without needing to care about cost-basis or the possible tax consequences which accompany realizing short-term capital gains. I don't mind dramatic market downturns, nor am I tempted to sell it all when there's a significant uptick. I use a traditional IRA, so regardless of short-term performance, I'll get to deduct contributions from this year's income taxes.
Why I Chose Alto's Crypto IRA
Alto is not the most dominant name in the Crypto IRA game, but it was the best choice for me. iTrust Capital's Crypto IRA requires an investment minimum of $1,000 and BitCoin IRA has a $3,000 minimum. Alto's crypto IRA has no investment minimum to open an account.
Given that IRA contributions for 2022 are limited to $6,000 ($7,000 for those age 50 or older) and I wish to keep my allocation below 10%, a four-figure investment minimum was a dealbreaker. I've always preferred my tax-deferred accounts to enjoy lovely high-yield non-qualified dividend income from REITs, BDCs, and other instruments which allow for dividend re-investment. After all, there's a reason Einstein referred to compound interest as "the 8th wonder of the world."
Bottom Line
I never give advice, I just share my experiences, and occasionally my referral codes. If Alto's Crypto IRA sounds good to you, signing up via this link will put a free $50 bonus in your pocket and yield me $50, too. However, a Crypto IRA may not be right for you. As always, do your own research, and do whatever is right for you.
