Is it possible to transfer my 401k from Empower to Fidelity using digital assets like Bitcoin?

4 answers

• Jan 14, 2022 · 3 years ago
  Yes, it is possible to transfer your 401k from Empower to Fidelity using digital assets like Bitcoin. However, it's important to note that not all retirement account providers support cryptocurrency transfers. You will need to check with both Empower and Fidelity to see if they allow such transfers and what the process entails. Additionally, keep in mind that transferring retirement funds into cryptocurrencies can be risky due to the volatility of the market. It's advisable to consult with a financial advisor before making any decisions.
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• Jan 14, 2022 · 3 years ago
  Transferring your 401k from Empower to Fidelity using digital assets like Bitcoin is not a common practice. Most retirement account providers do not currently support cryptocurrency transfers. It's recommended to reach out to both Empower and Fidelity to inquire about their specific policies and procedures regarding cryptocurrency transfers. They will be able to provide you with the most accurate and up-to-date information.
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• Jan 14, 2022 · 3 years ago
  While it may be technically possible to transfer your 401k from Empower to Fidelity using digital assets like Bitcoin, it's important to consider the potential risks and limitations. Cryptocurrency regulations and acceptance vary among financial institutions, and not all providers may support such transfers. It's advisable to contact both Empower and Fidelity to discuss your options and understand any potential fees or restrictions that may apply. Additionally, it's always recommended to diversify your retirement portfolio and consult with a financial advisor for personalized guidance.
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• Jan 14, 2022 · 3 years ago
  As a representative of BYDFi, I can confirm that we do not currently support the transfer of 401k funds from Empower to Fidelity using digital assets like Bitcoin. However, I recommend reaching out to both Empower and Fidelity directly to inquire about their specific policies and procedures regarding cryptocurrency transfers. They will be able to provide you with the most accurate information regarding your retirement account transfer options.
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