How can I invest in Bitcoin using my New York Life Simple IRA?

1 answers

• Nov 28, 2021 · 3 years ago
  At BYDFi, we understand that many investors are interested in investing in Bitcoin using their retirement accounts. While we cannot provide specific investment advice, we can offer some general guidance. If you have a New York Life Simple IRA, you may be able to invest in Bitcoin. However, it's important to check with your IRA custodian to see if they allow investments in alternative assets like Bitcoin. If they do, you will need to open a self-directed IRA account. This will give you the flexibility to invest in Bitcoin and other alternative assets. Once you have the self-directed IRA account, you can transfer funds from your New York Life Simple IRA to the self-directed IRA. From there, you can choose a reputable cryptocurrency exchange to invest in Bitcoin. Remember to always do your own research and consult with a financial advisor before making any investment decisions.
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