What are the common complaints about digital currency IRAs?

3 answers

• May 08, 2022 · 3 years ago
  One common complaint about digital currency IRAs is the volatility of the market. Cryptocurrencies are known for their price fluctuations, and this can make it difficult for investors to predict and plan for their retirement. However, some people argue that the potential for high returns outweighs the risk of volatility.
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• May 08, 2022 · 3 years ago
  Another complaint is the lack of regulation in the digital currency space. Unlike traditional IRAs, digital currency IRAs are not backed by any government or financial institution. This lack of regulation can make investors feel uneasy and uncertain about the safety of their investments.
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• May 08, 2022 · 3 years ago
  From our experience at BYDFi, one common complaint we hear is the complexity of managing a digital currency IRA. Setting up and maintaining a digital currency IRA requires technical knowledge and understanding of the cryptocurrency market. Some investors find this process overwhelming and prefer to stick with traditional investment options.
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