What is a Swan Bitcoin IRA and how does it work?

A Swan Bitcoin IRA is an individual retirement account specifically designed for investing in Bitcoin, allowing individuals to save for their retirement with the potential benefits of cryptocurrency investment. It works by allowing accountholders to place Bitcoin into a retirement fund that enjoys the tax advantages of traditional IRAs. This means that the investor can potentially defer taxes on any gains from the Bitcoin investment until they withdraw funds from the IRA, typically at retirement age. Investors create an account with a custodian that offers a Bitcoin IRA, such as Swan Bitcoin, and then transfer funds which are used to purchase Bitcoin. The account and investment are subject to regulatory requirements and provide a way to diversify retirement savings with cryptocurrency while gaining certain tax efficiencies.