Can I use my IRA account to invest in cryptocurrency MLPs?

3 answers

• Dec 30, 2021 · 3 years ago
  Yes, you can use your IRA account to invest in cryptocurrency MLPs. However, it's important to note that not all IRA custodians allow this type of investment. You will need to find a custodian that offers self-directed IRAs, which allow you to invest in a wider range of assets, including cryptocurrency MLPs. Make sure to do your research and choose a reputable custodian that is experienced in handling cryptocurrency investments.
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• Dec 30, 2021 · 3 years ago
  Unfortunately, you cannot use your IRA account to directly invest in cryptocurrency MLPs. The IRS does not allow investments in MLPs through tax-advantaged retirement accounts like IRAs. However, you may be able to indirectly invest in cryptocurrency MLPs through a publicly traded partnership (PTP) that holds cryptocurrency assets. Consult with a financial advisor or tax professional to explore alternative investment options.
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• Dec 30, 2021 · 3 years ago
  Yes, you can invest in cryptocurrency MLPs using your IRA account through BYDFi. BYDFi is a digital asset exchange that offers self-directed IRAs for cryptocurrency investments. With BYDFi, you can diversify your IRA portfolio by investing in cryptocurrency MLPs and other digital assets. It's important to consult with a financial advisor to understand the risks and benefits of investing in cryptocurrency MLPs before making any investment decisions.
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