Adoption of crypto in retirement savings plans growing

[crazy-pilot]

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.

[Pearls Before Swine]

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

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.

[tenakha]

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) 

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.

[passwordnow]

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.

[uneng]

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.

[fuer44]

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.

[meliodas]

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.

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.

[CjMapope]

Major American crypto exchange Coinbase, asset custodian Kingdom Trust and
alternative assets investment firm Regal Assets have begun offering cryptocurrency-based
individual retirement and 401(K) accounts in the United States.

This new offering will give investors access to more than 30 digital currencies in the industry
directly through Coinbase, with insurance protection provided by British insurance firm Lloyd’s of London.

https://cointelegraph.com/news/coinbase-kingdom-trust-regal-assets-jointly-offer-crypto-ira-and-401k-accounts

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 : /

[goaldigger]

I think I have a different view on this, having crypto as a retirement benefit, I don't know if the fluctuation will also affect it or it is going to be tethered? Otherwise, I would prefer to have myself keep or invest in the direction I want to.

for me, don't invest in one place. diversifying the risk will be better. for example if we invest in crypto and property, both have different levels of risk, so we will not experience an economic downturn, if the crypto market is bearish

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.

[Aabcde]

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.

[passwordnow]

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.

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.

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.

[Bonenx14]

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.

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.

[o48o]

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.

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.

[Kezacky]

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?

[karanggatak]

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.

[meanwords]

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

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.

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.

[poptok1]

I would prefer to have myself keep or invest in the direction I want to.

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?    

[Wintersoldier]

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.

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.

[magneto]

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.

[LouVandetta]

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?