[…]The good news is with a Bitcoin Employee Benefit Plan, you can start “stacking sats” on auto-pilot. Before you know it you’ll have a decent amount of bitcoin in your pocket. Bitcoin Employee Benefit Plan is technically a custodial wallet. This means you are not in full possession of your bitcoin. Thankfully, it allows you to move your bitcoin to a self-custody wallet. Portfolio Diversification As an employee, it makes sense for you to have a portfolio that is diverse. This is so you are not putting all your eggs in one basket. For example, you could have some gold, […]
[…]no guarantee it will continue to rise in price, but with a limited number of minable coins (21 million), there’s a built-in scarcity. Cons of a Bitcoin IRA A major downside to Bitcoin IRAs is that you can’t move your current crypto holdings to an IRA account. Instead, you have to use a designated firm to make a purchase for your crypto IRA. This is for the sake of compliance rules. However, using a firm will add to the cost of each transaction. Along with trading fees, there may also be set-up fees. If you already have a large amount […]
[…]Bitcoin development is ongoing, and therefore you may experience changes down the line. We’re sure you have plenty of questions on how a Bitcoin Savings Plan works. Let’s discuss the five things you should be aware of when trading in cryptocurrency. Disclaimer: First Financial does not provide any investment, financial, tax, legal or other professional advice. We recommend that you consult with financial and tax advisors to understand the risks and consequences of buying, selling, and holding Bitcoin. 1. The FDIC Does Not Insure Cryptocurrency Cryptocurrency is the new kid on the block, and as a result, regulators are still working on […]
