CHARLOTTE, N.C., May 31, 2019 /PRNewswire-PRWeb/ -- Recently, a post at American IRA highlighted "10 things" investors need to know about investing in cryptocurrency in 2019. Because of the firm's experience with helping people establish Self-Directed IRAs for investing in alternative asset classes, American IRA's experience with focusing beyond the stock market helped provide insight into how cryptocurrency may perform in the coming year.
According to the post, there are a few things that investors need to know before getting involved with cryptocurrency. For example, the post recommends performing due diligence before getting invested into any one asset, even cryptocurrencies. Due diligence includes reading whitepapers for specific types of coins. Additionally, investors should understand what cryptocurrencies are and how they work before getting invested.
The post also recommends ignoring the noise on both sides of the issue of cryptocurrencies. Extreme advice on either side—that cryptocurrencies are just a fad or that they are going "to the moon"—tend to exaggerate the reality of the investments.
The post at American IRA's website also explained some of the top cryptocurrencies outside of the realm of the ever-popular Bitcoin. Other coins like Ethereum, Ripple, EOS and Litecoin are mentioned. And, as the post noted, cryptocurrency is treated as personal property for federal tax reporting purposes—which is an important consideration for any investment.
A Self-Directed IRA is a retirement investment arrangement in which a retirement investor can make a wide variety of investments beyond the usual stock market funds available through traditional arrangements. For that reason, the Self-Directed IRA firm American IRA is used to the idea of hedging one's retirement bets with investments outside the stock market. Cryptocurrencies have been an intriguing way of moving money out of the market, but the post recommends that investors take a cautious approach in 2019.
American IRA, LLC was established in 2004 by Jim Hitt, CEO in Asheville, NC.
The mission of American IRA is to provide the highest level of customer service in the self-directed retirement industry. Jim Hitt and his team have grown the company to over $400 million in assets under administration by educating the public that their Self-Directed IRA account can invest in a variety of assets such as real estate, private lending, limited liability companies, precious metals and much more.
As a Self-Directed IRA administrator, they are a neutral third party. They do not make any recommendations to any person or entity associated with investments of any type (including financial representatives, investment promoters or companies, or employees, agents or representatives associated with these firms). They are not responsible for and are not bound by any statements, representations, warranties or agreements made by any such person or entity and do not provide any recommendation on the quality profitability or reputability of any investment, individual or company. The term "they" refers to American IRA, located in Asheville and Charlotte, NC.
SOURCE American IRA, LLC