The second secret is a “flat rate” plan IRA (or 401k). There are two fundamentally different types of self-directed IRAs: a custodial and checkbook. In the custodial model, the custodian holds your money, and since they hold your money, they can charge asset- based fees or transaction fees. An asset-based fee means a percentage of the money. For instance, if you want to invest $100,000 into crypto, they may charge you 10 or 15 percent: i.e., $10,000 or $15,000. They can do that in a custodial plan. In the flat rate plan, you pay a flat one-time set-up fee (which will typically range in price between $1200 and $1800) and a small yearly fee (typically under $200). A flat fee means it doesn’t matter if you’re investing $1, $100,000 or $100 million. Flat is flat. And that’s really what you want to do when you’re investing in cryptos. You don’t want to keep on paying high percentages to some third party. It’s really a rip-off. It’s ludicrous, in fact.
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