Bitcoin Forum

Aside from that

With the upcoming raze of DEFI ( Its kinda popular ever since months ago, with the upcoming addition of multi collateral DAI)
Crypto as a retirement saving plans really could be something

Look at the lending rate of DAI/USDC and so
Its even higher than the traditional market savings/fix deposit

Including crypto in your 401k, is definitely something in the future

Not a bad idea. Imagine working at an organization and you get all your pension or retired benefits in Bitcoin! You'd be a billionaire by the time you retire in 20 - 30 years time (unless the bear market lasts that long, then you'd be really messed up)  ;D

I'm planning to use some of my alts for retirement too, though the market been too volatile and some alts I thought will keep their projects promise seems to failed I bought a VUL for a backup. It's nice that there is already a account that will give insurance for these retirement funds. But know that it maybe risky since nothing is guaranteed even they give insurance.

I am not too sure if many people would fancy this idea, even those who are bitcoin enthusiasts, receiving your pension in bitcoin would just be like investing all your life savings, and it's against the rule/idea of "invest with the amount you can afford to lose". This is well too risky, I believe in the bitcoin, but when i start working, I will not love to receive my pension in bitcoin.

It would be better to receive my pension in my fiat currency, then I'll buy bitcoins with the quota I'll love to use for cryptocurrency investment.

Well its a good a option because instead of keeping a retirement savings in inflationary fiat why not invest in crypto with a potential to grow and good thing if its backed by insurances. Getting involve in crypto and planning ahead early retirement is a good move but individuals should be aware and shouldn't go all in.

It's a great thing because shows people are really optmistic that BTC and cryptos are here to stay and not only a bubble

BTC is in my plan to retire, no doubt, and BTC bring more hope to my future and I'm grateful for that

coinbase plan will bring crypto to be more positive adoption growth will increase with this a news and I am sure that crypto will be better than any asset in the future ,we are very interested in pension funds from cities and villages will switch to this industry because coinbase plan which will take them

I don't think crypto is the safest way to start a retirement savings plan. The risk with this plan is very high. The cryptocurrency prices are not guaranteed to rise. What if the prices will be decreasing massively several years later? That would mean that the person who has that retirement plan will not be able to use anything from his plan because the market is not good enough to give him good returns.

Not sure how this scheme will actually works but I don't suggest anyone to save their funds on custodial services its better to keep on our own wallets,for sure the price value will be higher when we retire and no one can steal our funds when its in our hand.

Well, I am not sure whether this will be a hit. No, doubt it is a good news for us but for the market it depends on how many people will take it. Those who are aware about the Cryptocurrency market should go ahead with this retirement plan.

The idea is good and it is certainly a point in favor of the crypto, but at the moment - with the current volatility and the possibility that everything collapses at any moment - it doesn't seem to me the case to put money for retirement in this sector...

I understand your opinion. it's a little bit worrying about what will happen with an unsuitable pension fund. I think it should develop like a stable coin or a coin that never goes down according to the initial price / ROI continues to increase even though only slightly. those who want to retire are definitely funds that are within the established budget and are grateful if they can be more.

The ones opting for crypto will not be retiring anytime soon. The price history of bitcoin shows that it keeps growing so those who avail of this is expecting that the price will be in that same direction, 20 to 30 years from now. And if it is true, they will get way higher than the regular retirement plans.

I think it is a very nice idea to make it more meaningful your retirement budget. But I think we need to consider the price value of different crypto and different era of coin and price value. I think this process will become more complicated when the time that legalization will came. So I hope they will plan it well to avoid too much problem in the future.

I think it needs further studies, investing in highly volatile asset from retirement funds (money) is not that easy. Although that it has subjected for insurance policy. but still it can't change the truth that the investment they want to pursue is a high risk kind and i don't know how they will make it profitable for the retirees. btw i'm not an expert regarding this topic i'm just share my personal opinion and i'm not against with it.

I hope they also include a Roth IRA for Bitcoin and other cryptocurrencies. Paying the taxes up front would draw more people to invest.

I've gone through the article on cointelegraph and it's very impressive, individual retirement account (IRA)  is the way forward for retirement savings plans. It's good to know that over 30 digital currencies will be made available and Bitcoin, and other major cryptos are already embedded. Looking forward to seeing more of such innovation.

In my opinion it is their right to invest pension savings in Cryptocurrency, because before doing that they will study it first and understand the risks and benefits to be gained because it is impossible for them to do so without deeper knowledge and of course ready to accept the risks and loss.
and that is one way of adopting a crypto currency even though it is high risk because it will develop the invested coins, we must respect their policies to make decisions because sometimes what we consider is risky, it will benefit them.

That's much better than trying to predict what future will bring you, we still unsure how this industry will go further and if we are planning for our retirement, maybe offline business after receiving your cash, since fluctuations is still unavoidable though if you have any idea how to plan well then it's also an option that you can work with. Keep things in the right direction and make sure to do good research in anything that you'll going to do with your investment.

This looks very cool. I have been using Coinbase for a long time, it's a great exchange. If this idea works it will be very cool. I would like to see something like this in crypto.

Oh man...I have a feeling that this will be popular with the upcoming generation, but I'm really not sure it's a great idea unless you're young and only if you don't keep the majority of your retirement portfolio weighted toward cryptocurrency. 

Why would you want to take that much risk when you're talking about your retirement?  It isn't as tho bitcoin would be earning you any income in a retirement fund, which *is* the case with a lot of mutual funds and individual stocks.  Plus the volatility of stocks tends to be a lot less than any crypto, and I wouldn't be comfortable watching my future bounce around like a yo yo.  It's bad enough when the stock market crashes, but extreme price volatility is almost built into crypto.

I do not think I can take this kind of risk. After 30 years if the prices are not what you expected, you will not be able to cover your retirement expenses. We all believe that crypto promises a better future for us, but our belief does not mean it will. This offer and insurance is good option for a certain amount, but not for the entire retirement.

I have invested a bit for my retirement but I think this idea is quite risky for many. We don't have the same take with risk taking but it's all like a gamble to most of the users of that service.
I'm an enthusiast with crypto as a whole but I find this doesn't suit for all ages. Some newbies might take this an opportunity without doing further research.

The investors must be very careful about this as crypto currencies prices are very volatile. They must understand very closely how this insurance protection provided by british insurance firm Lloyd’s of London works and what exactly it covers.
It would be also advisable for an investor to calculate if to invest through this retirement saving plan is more worthful and profitable than investing by himself. I think the second option is better, with the exception there won't be an account manager, advisor.

Very good article, but there is a question from me, whether the insurance guarantee is a guarantee of full ownership of the asset holders when prices fall? for example when the price of bitcoin as a coin held falls, then is there a guarantee that the insurance holder can still secure his assets from the fall in price?

because if not, pension guarantees can actually be booming because the crypto market is very volatile. but despite all that, this is a very good and interesting project.

I agree with that. Most of the investors or people who are risking their retirement savings in cryptocurrency are people that just got hyped by other investors. They should do a decent research first to know the possible scenarios that might happen in the future if they will continue investing or risking their retirement plan through cryptocurrency.

this makes alot of sense to me, im really happy to hear this
i know me and my family have been using crypto as our retirement funds for a long time, and will continue to do so
Banks here offer like 2% APR, BTC offers financial freedom one day. its a nobrainer!
it just sux that banks talked so much shit about crypto, yet they have been the biggest patent makers on it the last few years : /

Its balancing your money and distribution of your money should be done on many ways. Investment is a good option for retirement, choosing the best is a must and cryptocurrency is a big risk for that. If you want to invest your retirement fund on bitcoin then you must be ready for every possible outcome because cryptocurrency is still on the early age. If US citizens trust so much the cryptomarket, then they believe that the future will be good to them and they can afford to take this risk. Personally, I still choose stocks, insurance and other fixed investments for my retirement fund.

Personally, I also think to save some assets such as bitcoin and xlm for retirement. But I just want to save it in a hardware wallet. On the other hand, storing it in a hardware wallet also provides easy access without other rules. So that my family also knows how to access it. I'm just not sure if the coinbase project will take long or not. Because as we know, there are so many interventions on crypto that anything can happen.

Yes, they might see the potential of it but didn't dwelled much in research and don't understand how much risk they are taking. Just like the old days, I mean two years ago when many new investors got in because of the hype. The promised of earning much because they've seen others earned a lot during those days. But I'm wishing all the best for those who will take this program since we're all enthusiasts on this matter although I wouldn't avail this service.

but not everyone can afford to do that, and I think this idea is good because it includes people who need money in retirement. plus this development was carried out by a giant from coinbase who has a high level of popularity.

It will be a hit in a bull run (mainly on the top of it) and on the bear run these people who got in on the top are getting ridiculed again. I feel really bad for them, as it depends on the next bullrun ath how harsh it will be, but the next bear run could be so harsh it could be one catalyst for a global regression.

that's not a bad idea, I think the coinbase company is taking a good path about crypto retirement savings plans. but I think whether in the future many will use this? whereas if for example all crypto holders do the same thing, then how can there be a movement in the price of coins if all holders do not use for transactions / early retirement?

if I disagree with this plan because pension funds are funds that we will use when we are old and unable to work anymore. so I think it's very risky to save pension funds in bitcoin and crypto because we don't know whether in the future the price of bitcoin can still increase or the price will actually drop? because maybe in the future there is already another technology or system that is replacing it. if I had better use a pension fund for short-term investment and make a profit from it. and then save the profits in the form of gold. I think storing wealth in gold is safer.

Maybe they are pretty confident that the world would see Bitcoin's adoption in the upcoming decades which then hooks them to invest in this retirement plan. If you are only thinking about shot term, then it's a bad plan but for long term, I don't see any wrong in here. Bitcoin is only 10 years old but still has a lot of potential to grow. Given enough time for Bitcoin to be adopted by many, those who invested in this plan might get the ripe for all those years. We are talking about retirement plan here, long term holding.

This. I think all people should be opposed to ideas of mandatory pension in general.
Nanny state, just like the name suggest, is treating people like immature children by telling them what to do with their own money.
This is unacceptable and in fact, harmful in the long run. Pension plans have a tendency for becoming ordinary Ponzis, no one should be obligated by law to take part in a crime. Ideas like this have the potential for shooting cryptocurrency prices very high, however any issues with the system itself can and will do the exact opposite. Broken pension Ponzi will be like the darkest PR imaginable. At the end of the day, this pension plan is just another financial tool, designed to control and make money out of naivety of regular folks.
Why would anyone need a fin-tech firm, when they can do the exact same on their own?    

I could be effective if the retirement investment is on a stable coin, though, for some risk-takers, they can choose cryptos that are for investment purposes such as bitcoin. To make it short, this retirement savings would be beneficial for us to have funds whenever in case we leave our beloved jobs. It is better if we have options to invest in risk-free, or with risk but the return is quite bigger if we succeed. I hope health insurance should also adopt this kind of investment platform too.

Definitely. I think that it's a global trend as well, given the fact that we saw similar things in Australia being reported with retirees favouring bitcoin and other cryptos within their respective retirement portfolios.

It's really a great way to balance out the risks and rewards of any portfolio, when done in moderation.

If an ETF can be approved, which is unlikely at the moment, then adoption in such form can increase even further.

This is such a good news, more adoption of cryptocurrency. But these kinda retirement savings plans are not meant for all ages I guess. Think about it, I don't think that everyone would be pleased if they have a cryptocurrency as a savings, it's very risky, even with a stable coin. Even with crypto enthusiast some might choose a real money or something that has a fixed value over cryptocurrency. Since there is always a risk that the value will drop. And some might be happy about this news. Since when we're saving in a bank the interest not that high either, but in crypto if the price increase significantly, you'll know that you've hit a jackpot. Does this mean that the world started to see a brighter future with cryptoccurency?

I think its just better and safer to plan your retirement yourself by investing in top altcoins, hold and let go for years to come, the results will surely be unbelievable

It is surely unbelievable. It is either it multiplied several times or died an untimely death. Can you name me an altcoin that you are 100% sure to be still here and has grown in value in 30 years time? If not then I think this is not a good decision to make. Crypto at this stage is not yet founded on solid grounds. Projects are rising and falling. When it comes to retirement plan, it should somehow be insured. Insurance is necessary for this kind of plan.

You are right, there must be more studies on this project scheme. Because the price of crypto is very volatile, and how they are to overcome the problem. This project is the latest idea that uses pension funds to invest, I hope this project will be developed again and minimize the risks that occur due to the fluctuating crypto nature. Retirees will expect every money invested to support their old age.

As far as I concern , I agree that it may have a lot of studies of this project and on my opinion is that if this project is a legit in which we can't guarantee easily since many projects here make some noise from the start and become disappear in the end like doesn't exist from the start. I hope everyone may aware on this since many of us looks like interested on this project.

This seems like a good idea for people like us but believe me people are not ready for the volatility of cryptocurrencies, we have gotten used to the movements of bitcoin and gaining or losing more than 10% in a single day but most investors are not ready for it, if the stock market lost 5% in a single day you will see all the world worried about it and speculating if we are getting in a recession and stuff like that.

Right now bitcoin is not for everyone since it is not stable enough, but once the movements of bitcoin become smaller then we could begin to see bitcoin being used by most pensions.

Great idea although risky of course. Putting down your benefits into crypto is like an accepting the fact that you can have no benefits at all. Althouth the opposite of it is that your benefit might get double just by a chance when the market is in the good condition when you are getting your benefits, otherwise would be bad for you.

The foresight and pragmatism of Coinbase is laudable. The are not just making themselves a multi billion dollar company but creating also a billion dollar employee through the crypto retirement saving plans. I know people may have doubts about the gesture due to the volatility of cryptocurrency but it should be thought of as an investment option with a likely positive outcome due to the recent boom of cryptocurrency as well as its predicted future which looks bright on all sides

This is encouraging to see and it's a wise move to have some of your portfolio comprised of cryptocurrency even if it's just a small percentage in Bitcoin and a few other major alternatives you're not likely to regret it if you view it as part of a long term strategy, and the traditional stock markets may not currently be performing so badly but eventually there will be a major correction globally and these types of assets will become more and more appealing to ordinary investors

I do not believe in such news, because we already had a much bigger event. The Bakkt launch should have provided access to accredited investors, but the daily volume was around 2 BTC, which is just disappointing. Volume raises at the moment, so hopefully it is not completely dead.

Good idea! though you know it might be hard, retirement plan using crypto sounds very interesting but believe it or not many oldies won't be biting on this kind of thing cause as they say "old dog cannot learn new tricks", but if the person who will introduce this would be known at their age maybe, Warren Buffet or even more then I can say that this would be a success.

I am one of the people who have a retirement plan with bitcoin in it. I don't know what life holds for me and if I would ever need it before retirement but I do have some savings in my bank account and additionally some bitcoins that I want to keep forever and even buy some every month.

In a perfect world I would never use any of that and let them grow over time and when I retire (I still have 30 years to retire) I would have 3 sources of income, one is my retirement plan that I pay from my salary, the other is the savings account that I have from money I saved from what I didn't spent from my salary, the third is bitcoins that I have.

Now, I know 30 years is a long long time and I will be 60 by that time so we have no idea what will happen but if everything goes according to plan my children will get a ton of money and a ton of stuff from me when I die.

Since we have seen how Bitcoin have grown and showed us it's potential through years, most retiring citizens have chosen to have it as their savings plan which I think is a wise idea. I'm sure that crypto could really go far in the future and I have no doubt of that so lucky will be those who are investing on it as early as possible.

Good opportunity for those who want to participate. Because, in the long term, this choice is good against the stealing of the wallet. You just send them BTC, and after a predetermined time they need to give BTC back to you no matter what. For a certain amount this is a good choice, but not for all your retirement savings. Remember "invest money which you can afford to lose".

If 401k uses cryptocurrency, then I think there will be big transactions in the crypto market. Pension funds in America are very large and are usually invested in quite secure sectors such as stocks or bonds. This shows that crypto has started to attract interest from big fund managers

If that gonna happen, the future of bitcoin and another crypto will be very optimistic and huge. It seems crypto is just warming up preparing for a big leap in the future. This will happen if more funds are being entered and poured into crypto. We have seen from real estate into crypto, insurance, etc

We don't know what will be the state of the market during our retirement that's why for me it's risky for everyone especially those that don't conduct research. As a person that's aware of crypto's volatility I understand the factors that might change crypto's state because it's very unpredictable. That is why I've said that this isn't for all age. Just like the 2017 ATH, there might be people that would lean their retirement plans through this kind of service without understanding the risk.

Coinbase is doing create and I thin that want to compete with Binance and all other exchange platform. I would not wonder if they would launch their our IEO launchpad and those IEOs would be extreme profitable.

In short they have been dragged with FOMO and hype in that case specially to those who had experienced that 2017 bull run.I don't know why there are people who do really recognized crypto to be part of their savings plan.As said its too risky to consider on putting up or rely our savings on it yet nothing is certain on crypto space.
Yes, its rewarding when the market booms up but what if it would go to the opposite way? that's a big mess up.

retirement savings aim to keep earning money in old age. this should require a stable currency.
while cryptocurrency is known as a very volatile currency.
this is very dangerous because it could be in old age, crypto will lose some or all of its value

if it aims to invest it might be utilized, so it depends on the original purpose. the most important thing is the ability of the investment and if you really want to make these funds for investment you should choose a coin that has potential

I consider it as part of my savings but my whole savings isn't dwelling into crypto. A big portion I must say that's why if I'm in need, I have something pull out of my pocket and if the market isn't so great, I wouldn't move anything from my crypto savings.
The retirement thing is much more of my concern, yes there might be people that will get into it through FOMO and will never understand what they'll doing because they don't look at the side of understanding it.

that's my concern aswell, retirement saving is not something that we can use to play but instead it's an absolute need to be able to survive in the old days and investing into volatile currency could potentially goes against ourselves. Even if the retirement savings still being used to invest into cryptos I'd suggest only small portion of it. This idea is honestly crazy, you only have 1 chance to have retirement savings and you are risking it for something frivolous like this. If it were me I don't do that.

Agreed. I find it not a problem to allocate some of my retirement savings to crypto, but it shouldn't drag down my whole portfolio if shit hits the fan and prices drop 80-90%, because you will heavily regret it.

One can be a perma bull, but don't let it affect you on an emotional level where you make one irrational decision after another. I feel that a lot of people within crypto are emotionally attached to their investments.

I understand that people want their crypto investments to do well because they want to get rich and potentially stop working for a boss, but for most people it simply will not work out like that.

Most people here have pie in the sky illusions about how their investments will play out. It's risk you can take with a small portion of your capital, but definitely not something you should dump all your money in.

What is actually means by insurance on investing? I dont see any advantage here although they got backed up from British empire. Investment has it own risk especially in crypto space and I can find its risk on its own. Even the projects that are listed are very well known. Coinbase cannot secure a pure profit out of an investment scheme.

Retirement savings coupled with Crypto is quite attractive, but the need in input in the list is the top ranked coin.
30 is too much in my opinion, but if it is ineffective they will change that rule.
im planning to use this metode to myself :)

Yes, that will work well for you, especially if you have the potential coin, which will increase in the long-term. That will give you a big profit from the crypto, and you will have your savings bigger, but the crypto will give you a lot of money.

I already save bitcoin, ethereum, litecoin, dash, another coin in the top ten list, and more so I can prepare my future. I am sure that many others will do the same. We will go to see the adoption process will grow in the next year.

Plans for retirement should be in investments so to make this happen its good to go for coons with potential, do you think crypto will fail as a technology? i guess not, look back to realize how far crypto have come now big companies are implementing crypto wallets in their new smartphones

Are you not surprised that such news does not affect the price of cryptocurrencies in any way? everything continues to fall and nothing changes. for me, it becomes obvious that this is done on purpose and someone does not allow the price to go up

This is really great and a boost to the adoption of cryptocurrencies. I hope the savings of these cryptocurrencies would be done in stable coins just to provide a strong hedge when the market goes extremely volatile. If not so, in such circumstances it would render some investors hopeless as their saved funds would be worth nothing.

Also, does Coinbase offer any form of interests to such users?

If most people had the same vision as you then we will not have as many economic problems as we have now, most people are only thinking about the now and do not think about their future and I see a lot of people with that kind of attitude in my country, they do not have any savings and they do not invest their money either, they are relying on their retirement plan to pay for them when they are old when we do not even know if there will be funds for the retirement plan in the future.

And there are many people that do not even have that and seem to plan to work for the rest of their lives, in my case if bitcoin goes up moderately during the next decades then it will make my life easier but if it really skyrockets then I could retire early and enjoy an easy life.

I do not even know what to say. Of course, this may be attractive news for crypto enthusiasts, but for the total number of people who have no idea what bitcoin is unlikely to be like if their pensions will be issued in cryptocurrency. Also, do not forget that the price of bitcoin is not stable and has great volatility. Of course, there are 50 to 50, you can both earn and lose.

It's a cool investment for the future but current volatility in price of crypto would make people hesitant to do a retirement savings in crypto. What if you won't be able to get money even equal to what you invested today after your retirement. For a long term investment, people still prefer fiat who's value are not so volatile in market.

Some people believe in crypto growth in the future so they don't want to be left behind to invest from now on and make it a retirement savings plan. but only certain people can do this, because not everyone knows about digital currencies so that if crypto cannot continue to be popularized then investors who will enter crypto cureency will not have strong growth in the future.

I dont think investing your retirement money in crypto is great idea. Crypto market is volatile and at the age of 60+ you dont have the abilities to learn crypto and do trading. Retired ppl need to invest in government saving schemes from where they can get return with 0  chances of all.

The truth is that this is a very complex issue, while investing in government saving funds may seem like to be like a good idea we also know that most governments are heavily indebted and we also know that they are printing too much money so if you are relatively young there is no guarantee that any money that you put in your retirement account is going to be there waiting for you when you retire.

This is forcing us to look for alternative investments, some may think that the stock market could be a good place where to put your money but I think that a crash in the stock market is inevitable, so as you can see we do not really have a lot of options and to me one of the best that we have is to invest in cryptocurrencies.

Hopefully, sooner or later we would reach the mass adoption, because the whole picture in 2019 is very disappointing. No new good projects are going live, old coins are falling in price and the mass adoption is still on the same level.

I think you have a mistaken idea of how long it will take for the mass adoption to happen, this is not something that will happen in a few years especially when bitcoin is not ready for the mass adoption anyway since it cannot deal with millions of users all trying to use the network at the same time and until that is true then do not expect that kind of mass adoption.

And even when we get that it will take some time before people begin to use bitcoin but there are some good news the economy is not doing as well and if it begins to go down then people will look for alternatives and when that happens then bitcoin will be there to offer them the option they are looking for.