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Coinbase partners with 401(k) provider ForUsAll for crypto retirement plans

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Stellar [XLM] and Zcash [ZEC] for retirement accounts- listed on Bitcoin IRA
Source: Unsplash


ForUsAll, a retirement investment platform for small businesses, announced the introduction of the Alt 401(k). Set to go public in July, it allows clients to provide alternative investment options within 401(k) plans. For this ‘alternative’ option, the firm partnered with Coinbase.

Here’s how it works:

According to this collaboration, employees can transfer up to 5% of their portfolio into cryptocurrencies. They can also bid, hold and sell more than 50 cryptocurrencies. This will in return act as a hedge against the cryptocurrency-related risks. Ergo, making it easy to rebalance into more traditional mutual funds.

David Ramirez, co-founder and CIO of ForUsAll,

“The reality is that alternative asset classes which increasingly include small allocations to cryptocurrency have become an important part of many institutional portfolios,” said David Ramirez, ForUsAll’s co-founder and chief investment officer.”

He further added:

“Without access to these portfolio building blocks and expert help to prudently use these asset classes, the average American may be at a structural disadvantage.”

Advantages

Alternative investments, including small allocations to cryptocurrency, can help improve portfolio diversification and expected returns.

However, the volatility and the complexity of these asset classes make it essential that people ‘do their own research’ into the different cryptocurrencies.

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Shubham is a full-time journalist/ Crypto data analyst at AMBCrypto. A Master's graduate in Accounting and Finance, Shubham's writings mainly focus on the cryptocurrency sector with particular emphasis on market research studies and communications for >2 years. Also, a die-hard Chelsea fan #KTBFFH.

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Disclaimer: AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.