RATE Group | How To Grow Your Crypto Tax-Free
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How To Grow Your Crypto Tax-Free

19 Dec How To Grow Your Crypto Tax-Free

Posted at 05:27h in Cryptocurrency News by

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I’ve heard a handful of conversations about how cryptocurrency returns are going to be used to fund early retirements, however, one thing I don’t think many investors realize is that there is a specific IRA – or individual retirement account – that allows Americans to save for retirement by holding crypto assets today. If you are a savvy investor who wants to take control of your funds, diversify your risk, and trade while completely deferring or eliminating income taxes these are the types of retirement solutions important to pay attention to. 

There are multiple types of IRAs that the IRS has granted special tax advantages to. For context, these plans are designed to reduce taxes, and in turn incentivize savings for retirement. The two main types of IRAs are Traditional IRAs and Roth IRAs

  • Traditional IRAs: allows pre-tax contributions to grow tax-free until withdrawn (taxes are paid only at the time of withdrawal). Funds…

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