Most of the major brokerage firms such as Scottrade, TradeKing and Charles Schwab offer a variety of investment choices including stocks, bonds and mutual funds. These companies offer a wide range of investment options for their customers, and as an investor you can find a good return on your investments while diversifying your portfolio to ensure that you do not lose all of your investment in one fell swoop. Unfortunately, as with anything in life there comes risks, and if you happen to be the person who has just lost their entire investment in the blink of an eye in a matter of moments due to an unfortunate and unforeseen event you could find yourself in a situation where you need to give up all of your holdings, including those in the form of a bitcoin 401k rollover. The IRS has stated that they will not allow the bitcoin exchange to continue operating as it violates anti-money laundering laws. Since the vast majority of investors hold or invest in a combination of currencies there is no way for the IRS to prove that you are not doing anything illegal, so the burden of proof lies with you.
Investing in the bitcoins vs ether Trade
With the recent announcement that the IRS will not be allowing the bitcoin exchange to continue operating, the future of the bitcoin 401k is in jeopardy. Many US citizens who have invested in bitcoins fear the IRS may force them to give up their hard earned wealth into the hands of the US government. If this happens the US citizens who hold the majority of the bitcoin supply will have no choice but to give up their money and liquidate their holdings. There are however ways to protect your investments and secure your investment with a simple rollover to a traditional CD or mutual fund account. By converting one or more of your bitcoins to US dollars you can easily shield yourself from any IRS action and ensure your investment is protected.
If you are the owner of a small amount of bitcoin then the best course of action is to convert your balances to a traditional CD or mutual fund. This way, if the worst happens and you have to give up the ownership of your coins you can find a buyer who is willing to purchase them at a much lower price than you would find on the market. If you are not the owner of a large amount of wealth, then it is unlikely that you will see any benefit from converting your small amounts of wealth into a large sum of wealth, so if you are in the process of planning out your financial future’s chances are that you are going to want to stick with the conventional methods of purchasing and selling gold, shares and other bullion and leave the world of digital assets like the bitcoin qt and the bitcoin wallet. The digital asset does have risk involved but it also offers high returns. As more people come online to learn more about the advantages of the technology to make their lives easier and their savings goals closer to a reality, there is no telling how long it is going to last.
