Which crypto exchange to work with for solo 401k?

Question

I was recommended itBit for solo 401k but are there other exchanges that I can look into?  Not sure if coinbase allows to open a business/institution account.

Brian Eastman · Answer

@Ami Shah

You can work with an US based exchange that will be able to open a business/commercial/institutional account and recognize the 401(k) either as a qualified retirement plan or as a trust.  We have clients using Coinbase, Kracken, Gemini and Bittrex.

Your 401k provider should be able to assist you.

The customer service of pretty much all of the exchanges with respect to account on-boarding for this type of account is effectively non-existent.

Ami Shah · Answer

Thank you for all the reply.  I will be exploring coinbase prime, gemini and kraken and see if their process of opening an institution based account is any simpler.

George Blower · Answer

We have helped clients invest Solo 401k funds in cryptocurrencies at many different exchanges and can share that there are many pitfalls such that it is important to work with an experienced provider to guide you through the process.  Important considerations include the following:

• Will you invest pre-tax funds only? Or will you also invest Roth funds?
• Are there multiple participants (e.g. husband and wife)?
• Titling and tax reporting on the account at the crypto exchange
• Funding the account at the crypto exchange

Carl Fischer · Answer

@Ami Shah

Work with @Brian Eastman this is very sophisticated investment and you need someone who is good and experienced.

Which crypto exchange to work with for solo 401k?

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