ALTO: BITCOIN & ALL THE CRYPTOS ON COINBASE, BUT TAX FREE. You KNOW you need a smidge of Crypto, but HOW?
Pro tip: My favorite Great Financial Reset Life-hack that YOU can do on a Saturday afternoon!
First, Nothing here is advice, yada.. (it never is. You are always in charge of your life, information deficiencies, and action/failure to act. Thankyou. *changa may now proceed -ed
So here’s one core thing I do. You can start it with under $100, no ongoing or account fees except a 1% purchase fee, and grow your assets long term TAX FREE.
PROBLEM:
You know there’s a new bull market starting in cryptocurrencies including bitcoin and ethereum.
You don’t know enough about it, or the fresh catalysts driving it, and you don’t subscribe yet so you haven’t listened to Changa’s carefully collated interviews. You’re smart and you know that lots of other smart folks don’t get it yet either, and you know that’s actually really good, as far as accumulating undervalued assets in general.
YET, you have limited time and want to get your foot in the door while you learn.
SOLUTION:
You know that you want (at a bare minimum):
Low Costs
Safety (as in dependable custodian who won’t run off with your money or have a redirect on their website to some scammer in Nairobi some day. Not investment price action -that’s a different top)
Choice (I want to be able to have lots of options I don’t even know I need right now, as I learn)
Simplicity (I want the process and website to be elegantly simple and also to just freaking work!)
It would also be really nice to:
Have it all in a tax free (or tax favoured) account incase I make obscene gains and then have to explain to my spouse why we have and extra 50K to pay in capital gains taxes this year, or worse, how we triggered a huge tax liability on a gain and then got happy and used the proceeds to buy another crypto at the top and then lost most of our money yet STILL owe the IRS (Yep it happens. Changa’s approach removes this little blindsiding issue)
Get a $50 bonus towards you account after you get started.
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For ME, the solution is ALTO CRYPTO IRA
What’s that, you ask, hopefully?:
*Reminder/bonus: Use this special link to access the signup page (It’s special because it will tell them to give you a $50 once you start and fund your account… Free money GOOD!)
https://altoira.grsm.io/37ugsk9upsdx
The Alto IRA is an individual retirement account that provides investors with the flexibility to invest in alternative assets. Here are some key points about how it works:
Self-Directed IRAs: Alto IRAs are self-directed, which means you have control over your investment choices. Unlike traditional IRAs, which typically limit investments to publicly traded assets, Alto IRAs allow you to invest in a variety of alternative assets, including art, crypto, farmland, startups, and real estate.
Account Setup: Opening an Alto IRA is straightforward. You can sign up on the Alto website, complete the legally required Know Your Customer (KYC) process, and choose the type of IRA you want (traditional, Roth, or SEP).
Funding Options:
Cash Contributions: You can fund your Alto account by making cash contributions up to the annual limits set by the IRS, via bank link
Rollovers: You can transfer funds from an existing IRA, 401(k), 403(b), or other eligible retirement accounts into your Alto IRA without any transfer fees.
Investment Choices:
Coinbase Integration: With the Alto CryptoIRA, you can invest in over 200 cryptocurrencies through the Coinbase exchange.
Types of IRAs:
Alto administers Traditional IRAs, Roth IRAs, and SEP IRAs.
You can choose the type of IRA that aligns with your financial goals and investment preferences.
Annual Contribution Limits:
For the 2023 tax year, the contribution limit for traditional and Roth self-directed IRAs is $6,500 for individuals under 50 and $7,000 for those over 50. Limits are higher for 2024. Google it.
These limits are set by the IRS and apply to all IRAs.
If you have specific questions or need further assistance, I recommend reaching out to Alto directly for personalized guidance.
GETTING STARTED:
If I had 15 minutes to get started, here’s exactly what I’d do:
Use this special link to access the signup page (It’s special because it will tell them to give you a $50 once you start and fund your account… Free money GOOD!)
https://altoira.grsm.io/37ugsk9upsdx
Set up a ROTH IRA account (or a Traditional IRA if preferred. Both are good -one may be better for you and you probably already know which. If not, ask your CPA. Make sure you had earned income last year as in paycheck or 1099 income, or are the spouse of someone who did in 2023) follow the prompts to do the standard ID verify (easy) and link securely to one of your bank accounts ( Don’t worry, they use same security protocol system as substack does when you add money or subscribe)
Transfer in $100 or whatever you like to start.
IMPORTANT! Designate the contribution as a YEAR 2023 contribution so long as you haven’t already reached your 6500 max for 2023 AND you do this before April 15th tax deadline. After that, use 2024. If in doubt, consult your tax dude or google it. If you care about money, you’re going to need to learn this anyways. If you are an exceptionally high earner (or file jointly with a spouse who is, make sure your’e even elegible for IRA contributions, or you’ll have to remove the over-contribution later if the IRS sends you a friendly reminder note)
Wait a few days until the funds clear (you’ll get a helpful reminder email) and then split them between bitcoin and ethereum. You’ll have time to learn about the other 200 choices later (yes, EVERYTHING on Coinbase, the leading custodian Wall Street trusts use, is available to you!!)
Learn like mad. Add more when you can and enjoy the tax-free (Roth ira) or tax deferred (Traditional IRA) COMPOUNDING.
The about is simply my thought process for myself. Please do your own due dilligence, as always. ENJOY!
Hot Bonus (pro’s only)
Bitcoin rainbow chart
One more tool to help guage where we are on any particular bitcoin move.
https://www.blockchaincenter.net/en/bitcoin-rainbow-chart/
60 Seconds Bitcoin update:
Michael Saylor Leaves Entire CNBC Panel SPEECHLESS
https://youtu.be/S-CgH4C1-5M?si=Sl1s97jaxYZjdBlo