How to Position for the Bitcoin Boom

Bitcoin could be on the verge of a major new bull run. According to Tuur Demeester of Adamant Research, in his publication How to Position

Bitcoin is rallying again, and many are speculating that another bull run is on the horizon. If you’re looking to secure a substantial allocation of bitcoin before this happens—an allocation that could appreciate completely tax-free—then you might have forgotten about an old retirement account.

With an Unchained IRA, you can save bitcoin in a tax-advantaged manner while maintaining full control of your keys. There is no third-party risk because you hold the keys—ensuring that no one else can access your bitcoin.

Here's a step-by-step guide on how to set up an Unchained IRA and begin saving bitcoin for your retirement:

Step 1: Purchase hardware wallets

A hardware wallet allows you to store your bitcoin keys offline, giving you full control of your funds. To begin, purchase a couple of hardware wallets, such as those offered by Trezor or Ledger. Unchained currently supports a range of devices, including the Ledger Nano X, Trezor Model T, and Coldcard Mk4. Check out the full list of hardware wallets Unchained supports.

For optimal security, it’s recommended to buy directly from the manufacturer, but purchasing from a trusted third-party retailer, like Best Buy, is also acceptable. This is especially true in the context of multisig which eliminates any single key as a single point of failure.

Make sure to get at least two wallets—you’ll need both to set up your Unchained IRA vault.

Step 2: Create an account on Unchained.com

Next, go to Unchained and create an account. The process is simple: provide your name, email, phone number, and create a strong password. Unchained takes your privacy seriously.

Once your account is created, select the type of account you need—in this case we’re creating an IRA account. If you prefer personalized assistance, consider opting for Unchained’s Concierge Onboarding, where a bitcoin custody expert will guide you through every step.

Step 3: Create your Unchained IRA account—with no setup or account fees for the first year!

Now it’s time to set up your IRA account. With an Unchained IRA, you can save bitcoin in a tax-advantaged manner while maintaining full control of your keys. There is no third-party risk because you hold the keys—ensuring that no one else can access your bitcoin.

Setting up an account is straightforward—there are no setup fees, account fees don’t start until the second year, and you can see trading fees on our pricing page. Unchained’s IRA offers both Traditional and Roth options, allowing you to choose the best fit for your retirement strategy.

Step 4: Follow the Self-Service guide for vault setup

After setting up your account, it’s time to set up your multisig vault—one of the most secure ways to secure bitcoin. Multisig requires more than one key to authorize a transaction, which mitigates the risks associated with custodian and exchange hacks, bad business practices, or individual mistakes.

You can set up this secure multisig configuration in under an hour using Unchained’s Self-Service Onboarding. Simply follow the guide at diy.unchained.com to get started—if you’re using two hardware wallets to build your vault, you’ll choose the Lead custody model.

Step 5: Roll over your existing 401k/IRA

Next, you’ll need to fund your new IRA, and there are a few ways to do it: an IRA-to-IRA transfer, a 401(k)-to-IRA rollover, or an annual contribution. The most common method is rolling over funds from an existing 401(k) or IRA into your new Unchained IRA.

While this process can feel tedious—particularly if your 401(k) administrator needs to issue you a physical check—it is straightforward. Once you receive your funds, Unchained will convert them to bitcoin with our trading desk and deposit them into your IRA vault.

If you already hold bitcoin in another IRA, you can do an in-kind transfer to move your bitcoin directly to Unchained without converting to cash first. If you want to learn more about how to fund your IRA, we have a full Knowledge Base article for that.

Step 6: Enjoy the benefits of tax-advantaged bitcoin

Congratulations—your retirement savings are now secured in bitcoin! Unchained offers flat annual fees. Starting in year two, you’ll pay a flat $250 annual fee for your IRA account.

Holding bitcoin in a tax-advantaged account combines the inflation resistance of bitcoin with the benefits of an IRA. Most importantly, you remain in charge of your bitcoin—not an exchange or third party. If the bull run is approaching as many suspect, the Unchained IRA could put you in position to watch your retirement savings grow.

This article is provided for educational