A self-directed Litecoin IRA is an individual retirement account held by trustees or custodians that permit investments in a broad array of assets, from virtual currencies, including Litecoin, to gold and other precious metals to real estate, promissory notes, or private placement securities.
Earnings in a Litecoin IRA grow tax-deferred, which means you won’t pay capital gains taxes if you sell, but gains will be taxed at your normal income tax rate when funds are withdrawn in retirement.
What is Litecoin?
Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Litecoin is an open source, global payment network that is fully decentralized without any central authorities. Mathematics secures the network and empowers individuals to control their own finances. Litecoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency. With substantial industry support, trade volume and liquidity, Litecoin is a proven medium of commerce complementary to Bitcoin.