Where’s My Crypto?
By Peter Rizzo
This might seem like a dumb question, but with the daily announcements of another way to invest in Cryptocurrency you want to know where it is and how you can control the asset.
We trust the institutions to house our assets, but a growing group of people throughout the United States want to take control of them and be able to move them around at their pleasure. They also feel more secure, for they know where their asset is and they can touch it and guard it.
Here are some examples of why people want to control their assets:
1. Investors love Real Estate for they can touch it, drive by it and even if the market crashes it still produces income. Then institutions came up with the product REITs or Real Estate Investment Trusts. You bought a percentage of development or investment and a firm did all the legwork and managing of the investment. You were not a controlling investor, but a minority owner and often didn’t know where the investment was. You couldn’t cash out or take control, but had to wait for the custodian’s payout.
When the last downturn came many REITS shut down leaving investors with empty pockets, but I don’t know of anybody who held on to their self-controlled properties that didn’t recoup their investments plus. (There were many REITS that cashed their investors out so I’m not saying all were bad)
2. When Gold was the rage people started gathering Gold, Silver and Palladium and there were more metal IRAs and metal investment programs than sand in the desert. Then when Gold started to implode many funds were left dry for the originators were playing the market and couldn’t cover their losses.
There were rumors more Gold certificates were sold than there was actual Gold. Again, clients and people that had control of their coins or bars rode it out.
Those are just 2 examples and I don’t want to be a conspiracy theorist, but I think you see how important it is to control, whatever asset you decide to invest in. In the matter of Cryptocurrency, it’s more important than ever.
You don’t have to store it in your back pocket or safe to secure it, but rather know where it is and that you have the actual key and not an IOU to send you money if you want.
If you want to hold Cryptocurrency in your retirement accounts there are rules you have to adhere to and we’d be happy to discuss – You can set an appointment to discuss here. or you can also get a copy or our Cryptocurrency in your retirement plans here.
To learn more about Cryptocurrency security. a great article is here.
Cryptocurrency is a popular asset so be sure you do your best to secure and control your investment.