Chris Kline, a Denver, Colorado native, was challenged to create a way for individuals to directly invest in Bitcoin for retirement.
Kline co-founded Bitcoin IRA with Camilo Concha and Johannes Haze, and Kline then developed the process and exclusive partnerships to create a full-service, turnkey solution that allows investors to capitalize on the rapidly growing digital currency marketspace for their retirement portfolio while remaining fully IRS compliant.
Kline graduated from the University of Colorado, Boulder, with a degree in International Finance and Leadership.
He contributes to Forbes Finance Council, FXEmpire, and other publications.
Episode Highlights Here:
Chris Kline:
I think Cryptos got a 5 to 10-year planning period on it, but it’s really going to revolutionize the world.
Brett Swarts:
Determination and drive, you got to have that to solve complex things like bringing something cryptocurrency to retirement accounts, which leads us right into the number one secret to investing your crypto with your IRA. So what is the number one secret, Chris?
Chris Kline:
Well, if you’re eligible, always go for a Roth. Having tax completely tax-free growth is the best way to go. We have a lot of clients that either had Roths before or started a new Roth. For example, at Moya, he said he set up and contributed to his Roth that year in 2016. So his growth is completely tax-free and eligible for use cases like first-time homebuyers and higher education, see a lot of agility with it, but in general, is getting off zero. I think Cryptos got a 5 to 10-year planning period on it, but it’s really going to revolutionize the world. What better place to put it than somewhere where you can have a tax for your tax-deferred growth.
Brett Swarts:
The biggest strategy, I think I’m hearing you saying, hey, if it can be tax-free, let’s assume that taxes are going to be higher in the future, which easy assumption is probably an easy assumption that I think most of us would agree with. You have 30 trillion of debt. That’s kind of we’ll talk about that more here. But what you’re saying is, if you’re eligible, choose the Roth. If you’re able to, that’s the first thing. All right, what’s the number two secret to investing in crypto with your IRA.
Chris Kline:
I think what you want to have is the right platform that keeps you safe and accessible. There is a security to crypto that is much different than every other asset class out there, right? It doesn’t have wire constraints and other assets are their fundamentals to it like FDIC, so who is keeping your crypto safe for you long term is critical and how they’re doing that. There are lots of options out there today, we tell ourselves as a hyper-focus on security as we were the first. So to be able to get the regulators and a custodian bank to say, let’s do this, Chris, you got to imagine the standards that I was at back in 2016 before crypto was even popular. So make sure that you’re finding that right fit and then accessibility is huge. One of the things we’ve done really well is we did the first 24/7 trader. So before we built it in 2018, you couldn’t log in and trade every day or if you wanted to, or make changes to your allocations at your discretion, or you had to make a phone call it was a more manual process. Now that’s gone all the way to the palm of your hands in the mobile app with easy access to make changes and get into the program.
Brett Swarts:
Fantastic. By the way, you can learn more about Chris Klein and Bitcoin IRA by going to bitcoinira.com. We’re talking about investing in crypto with your IRA, buying and selling crypto 24/7 over 60 cryptocurrencies to 700 million custodial insurance, earn up to 6% interest in your IRA. Works for Roth SEP employer playing 401k’s in new or existing traditional IRAs and also Ira rollovers. So, Chris, number one is, are you eligible for a Roth? If so, go for IRA. Number two is to make sure that whoever you’re working with is safe and accessible. What’s the number three secret to investing in crypto with your IRA?
Chris Kline:
Well, in the crypto space, there’s a specialty lending market, which you saw that 6% on cash. So that’s an open term collateralized with Bitcoin option for folks that are maybe sitting on the sidelines, I’m not ready to get into crypto yet this isn’t my entry price or etc. They can go right into an earning program by making 6% interest collateralized on their holdings while they wait. Then once you’re in crypto, you can help your crypto grow. You can earn up to two 3% on Bitcoin and Etherium and there are more assets that are getting added to that regularly so your long-term hold holder or modeler, you got yourself in a nice tax-deferred position. You’ve gotten off zero and now you can make those holdings make you money over time which is great. I do it myself with my money.
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About Chris Kline
Chris Kline, a Denver, Colorado native, was challenged to create a way for individuals to directly invest in Bitcoin for retirement. Kline co-founded Bitcoin IRA with Camilo Concha and Johannes Haze, and Kline then developed the process and exclusive partnerships to create a full-service, turnkey solution that allows investors to capitalize on the rapidly growing digital currency market space for their retirement portfolio while remaining fully IRS compliant.
Kline graduated from the University of Colorado, Boulder, with a degree in International Finance and Leadership. He contributes to Forbes Finance Council, FXEmpire, and other publications.
