Benefits of bitcoins as a retirement fund

Since its existence, bitcoins has dealt with much cynicism. The currency received mixed response from the public. Some countries banned it out rightly; others embraced it. Now, bitcoin has become an accepted legitimate currency. It has created a slot for itself in the financial system. Bitcoins has become so popular that they can be part of someone’s retirement portfolio. However, investors are ignorant that bitcoins can make a part of an individual retirement investment account. The world is becoming digital every day. Thanks to the internet. Majority of our lives happen online. A digital currency has become an option for investment.

Benefits of bitcoins as an investment option

Except, you live on Mars, then you should be aware of the benefits of bitcoins as an investment option. Bitcoins provide individuals with the capability to make money transfers and carry out online payments without an intermediary. Bitcoin has risen above the mainstream. Bitcoins related a venture had attracted lots of partnership and endorsement.

The currency has become popular in regions that have low banking facilities. Investors and speculators are using it for making transfers and payments. The processing fee for bitcoins is 0.04 cents compared to 0.35 cents for typical credit card transaction.

Why people do not save for retirement

Saving for retirement is the dream of everybody approaching the age of retirement, but lack of investment knowledge and failure to take action has kept many people working into their 70s. Many people that intend to save for retirement are ignorant of the advantages that the digital currency offers.

Is Bitcoin a good retirement investment?

Bitcoin is an asset like other retirement investment. People are comfortable with the idea of investing in precious metals and foreign currencies. Bitcoins has somewhat been volatile in the last few months, but experts predict that bitcoins will stabilize and just like any new currency, it must fluctuate. The period of ups-and-down will transcend into a period where the coin will sustain at a sensible rate.

Bitcoins are a digital currency with the value of real money used to purchase goods and services. Bitcoins can be traded among users and exchanged into Euros, Dollars and other currencies. This implies that you can use bitcoins to fund your 401K or IRA.

Bitcoins benefits over traditional IRA

Bitcoins is a non-correlated asset and can’t be dragged down by economic factors like a conventional asset. As more investors embrace bitcoins, the value will continue to grow. Factors like falling oil prices, the stock market, or weak dollars cannot affect the value.

Investing in bitcoins as a retirement investment is one of the best options to make. Compare the value of the currency from 10 years back and imagine what the future holds for the currency. What will be the value of the currency ten years from now?. The volatility of the currency is scary for the average person. Despite the fall in price, the price has risen tremendously in the past few years. Lastly, if you are interested in investing in bitcoins for your retirement fund, be sure to signup on a competent company.




Tech Copywriter

Love podcasts or audiobooks? Learn on the go with our new app.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Elizabeth Highams

Elizabeth Highams

Tech Copywriter

More from Medium

Here are 3 ways hodlers can profit during bull and bear markets

Here are 3 ways hodlers can profit during bull and bear markets May Roundup — Hope in a sea of red