So I saw an ad pop up for a Bitcoin IRA and got to thinking… I am brand new to digital currency and just had a 40% return across Bitcoin, Litecoin, and Etherium. So the IRA for retirement sounds good to me. It’s my nephew’s 18th birthday and I thought, I should set up a wallet or account (I am just learning these terms) for him, my kids, and my sisters’ kids for their use after college or for them to start their own retirement fund. But what will an internet search get me? Most likely a lot of scams and I don’t even know if I should trust the IRA I just saw (bitcoinira was the website). What are your thoughts?
The topic of Bitcoin investments is really tricky, it is great you have earned so far 40% return, however there are several factors to consider. I suggest starting out by reading this post about Bitcoin investments. If you’re looking for sites that multiply your Bitcoins or give you exceptionally high yield on them (also known as HYIPs), I strongly suggest staying away from them as they are usually scams. If you are in doubt if a site is legit or not, I suggest you to run it through our Bitcoin Scam Test tool and try to draw your own conclusion.
As of today there still isn’t a reliable Bitcoin investment sites that we can recommend.