It’s October 2022, and Bitcoin is down ~63.9% in the last year. Is now time to buy the dip? Are you looking for the best crypto investment?
Whether you are still on the fence about purchasing your first bit of crypto, or you have a significant percentage of your net worth in crypto… there are a few simple money moves that can make a huge difference in growing and protecting your wealth. Make a smart long-term crypto investment requires more than just finding the next meme coin. Check out these 7 smart crypto money moves you can make in October. As the saying goes, “fortune favors the prepared mind”.
Money Move #1: Invest in Crypto Tax-Free with your Retirement Account (IRA)
The ability to invest in crypto for the long-term with the tax advantages of an IRA is our idea of a match made in heaven. Do you want to use your retirement money to invest in alternative investments like crypto? Look no further than AltoIRA. With an Alto CryptoIRA®, investors can use their retirement savings to buy, sell, and trade through its service that’s powered by Coinbase.
The CryptoIRA offers $10 investment minimums with more than 125 crypto assets to select from. The CryptoIRA offers 24/7 real-time trading, no monthly account fees, and a completely optional (and free) concierge service to help investors set up and fund their account. Not only that, because of Alto’s integration with Coinbase, investors don’t have to go through the hassle of creating a wallet or choosing an exchange.
We’ve done a full review on crypto IRAs and why Alto IRA is the best out there which you can check out here.
- Alto CryptoIRA® lets you buy and sell more than 200 coins and tokens through an integration with Coinbase—including Bitcoin, Ethereum, Solana and more.
- A transparent and consistent fee structure
- No account fees: There are no setup or account fees to get started. Just a low 1% fee when you make a trade.
Who knows…the currency of the future might just shape yours.
Money Move #2: Sign Up to the Best Crypto Exchange
Don’t use FTX.
Money Move #3: Keep Your Crypto Secured with a Cold Wallet
You need a hardware wallet if you’re holding cryptocurrency or NFTs. The fact is that too many exchanges get hacked or taken down. If you keep your money on a crypto exchange, you’re risking your entire investment.
Ledger‘s the smartest way to secure and protect your crypto assets with their sleek hardware wallets. They’ve also built Ledger Live which allows to buy and exchange crypto directly through your Ledger wallet. Ledger is the most reputable name in cold storage, and they’ve built a strong reputation of trust in the crypto community.It’s our favorite hardware wallet out there, and it’s no surprise it’s trusted by 4 million customers.
Get your Ledger wallet today and protect your crypto.
Money Move #4: Make Doing Taxes Easier with Crypto Tax Software
It’s tax season, and while we are certainly not financial advisors, you might want to make your life a lot easier and use a crypto tax software like CoinTracker. Accurately tracking cryptocurrency investment performance and taxes is hard, and CoinTracker make it easy and help you save money with their industry leading crypto tax software. Import your data automatically via API or upload a CSV of all your trades from over 300+ exchanges & 10,000+ cryptocurrencies. CoinTracker so easy to upload your trades, the price is very reasonable, and they’ve even built support for DeFi protocols and NFTs.
Do yourself a favor and try CoinTracker this tax season. Looking for a CoinTracker promo code? We’ve partnered with CoinTracker, and you can get 10% off your first purchase by using any of the links in this article, or the magical button below.
CoinTracker Promo Code link:
Money Move #5: Mine Bitcoin Without the Headache
Wouldn’t it be great to be able to mine Bitcoin without having to figure out how to set it up or have extremely loud ASIC computers overheating your living room? Well now you can, with Compass Mining. Simply purchase a Bitcoin miner from Compass Mining and pay a monthly hosting fee, and they’ll take care of the rest. Compass takes care of all the set up and hosts the Bitcoin miners in various locations they have set up around the world. Even Jack Dorsey (Founder of Twitter and Block Inc.) tweeted that he was trying mining with Compass Mining. We at Web3 Money even have a few Bitcoin miners set up through Compass Mining ourselves, and we are huge fans.
Money Move #6: Earn Free Crypto (Seriously) with Coinbase Learning Rewards
We know, it sounds too good to be true. But it’s real. You can earn free crypto by simply taking some time to learn about various crypto projects with Coinbase Learning Rewards.
Learning Rewards by Coinbase is simple, educational, and rewarding. Just by spending a few minutes and watching a short videos about crypto and completing a quick quiz, eligible customers will be rewarded with a bit of that specific crypto!
Money Move #7: Subscribe to Web3 Money’s Free Email Newsletter
Perhaps the easiest and smartest money move of them all…is signing up for our free web3 newsletter. Our free email newsletter helps you make sense of all things web3 with fun and entertaining 5 minute reads recapping the latest news and updates. Try us out and subscribe for free today.
Please read our Disclaimer: Web3 Money is a paid affiliate for many of these products and services and may receive compensation. This material has been distributed for informational and educational purposes only, and is not intended as investment, legal, accounting, or tax advice. Investing involves risk. Financial investment involves the risk of loss. We are not financial advisors nor tax advisors. The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website’s content as such. Web3 Money does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.