Bitwage Stock

  1. Bitwage Stock Forecast
  2. Bitwage Stock Ticker

Bitwage constantly analyzes all the mechanisms to distribute wages across borders, comparing traditional systems such as bank wires with new international gateways, such as XBT and XRapid protocols. Through this fully encompassing approach, Bitwage radically reduces the cost of paying workers, freelancers and outsourcing firms across borders. The process is simple: Bitwage gives users a bank account number. Users tell employers to send any percentage of their payroll deposit to that number. Then, Bitwage sends bitcoin to users the day after the deposit. Employees and employers can use Bitwage to reduce costs, increase transparency, and boost the speed of international wage payments. Dec 26, 2018 Cloud savings account (Bitwage Cloud): Allows your wages to be saved in any of 25 currencies, four cryptos (XBT, ETH, LTC, and VOX) or four metals (gold, silver, platinum, and palladium). You can withdraw funds via debit card, using the Visa network. Bitwage claims on its website that the service has been made use of by employees at corporate giants like Facebook, Google, American Express, GE Comcast, and Airbnb.

What is a Bitcoin 401(k)?

This offering from Bitwage, Leading Retirement Solutions, and Kingdom Trust allows customers to acquire Bitcoin in a tax deferred retirement account. Savers will be able to add Bitcoin in with traditional retirement assets to their liking, or just stack sats.
Does Bitcoin qualify as an asset class that can be held in a 401(k)?

-In 2014, the IRS classified Bitcoin and other cryptocurrencies as property and is thus taxed on a capital gains basis in a similar fashion to real estate or gold. This has created the basis for IRA and 401(k) companies to hold cryptocurrency in tax-incentivized retirement accounts as a permissible investment similarly to precious metals. Companies have been storing cryptocurrency in tax-incentivized retirement accounts since 2015.
How do I set up a Bitcoin 401(k) company account?
-Please reach out to directly to get started.
-Bitwage helps you create a 401(k) plan or incorporate Bitcoin into your current 401(k) with Leading Retirement Solutions, a 401(k) administrator. While creating your 401(k) account, Bitwage helps your 401(k) trust and employees create custodian accounts on Kingdom Trust, a US regulated qualified custodian. Once a 401(k) administration and custody account is created, the Bitcoin 401(k) is set up.
-Employees must set up their Kingdom Trust accounts through Bitwage. It is not possible for employees set up 401(k) accounts directly through Kingdom Trust.
-The 401(k) administrator is Leading Retirement Solutions (“LRS”). LRS specializes in offering alternative investments in 401(k) offerings. The team is made up of lawyers, certified administrators and consultants who provide retirement plan services, including custom plan design, administration, department of labor and IRS compliance, government reporting and recordkeeping. They enable companies to access over 24,000 traditional and alternative investment options for retirement plans. LRS has supported over 1000 clients in all 50 states.
-The Bitcoin custodian is Kingdom Trust (“KT”). KT is an independent qualified custodian regulated by the South Dakota Division of Banking. They specialize in unique and innovative custody solutions for individual investors, investment sponsors, family offices, advisory firms, broker-dealers and various other investment platforms. They currently serve over 100,000 clients and have over $12BN in assets under custody.
-The Bitcoin exchange is Gemini. Gemini is a licensed digital asset exchange and custodian built for both individuals and institutions. The company is a New York trust company regulated by the New York Department of Financial Services (NYSDFS). Gemini has completed SOC 2 type 1 & type 2 examinations.
What are the different types of Bitcoin 401(k) contributions available?
-Employees can contribute into their 401(k) on a traditional, Roth or after-tax basis.
-A traditional contribution uses pre-tax dollars and defers taxes on the gains until withdrawal. A Roth contribution uses post-tax dollars, but can be withdrawn with no taxes on capital gains with a qualified distribution. An after-tax contribution uses post-tax dollars and defers taxes on the gains until withdrawal.
-Employers can provide employer matching and profit-sharing contributions.
-Employer matching contributions are contributions based on how much the employee contributes. A profit-sharing contribution is paid out regardless of the amount the employee contributes.
Can my employees invest in non-crypto assets with the 401(k)?
-Yes, they can. Our Bitcoin custodian partner, Kingdom Trust, can custody Bitcoin and USD directly. Our 401(k) administrative partner, leading retirement solutions, offers 24,000 different investment options, such as traditional Vanguard mutual funds.

I already have a different 401(k) provider. Do I have to switch to Leading Retirement Solutions to offer the Bitcoin 401(k)?

While it is possible to to have multiple 401(k) providers, employers will want to switch over to LRS in order to offer the Bitcoin 401(k). having all retirement assets under one provider will save on fees. For employees who don't want to invest in Bitcoin, LRS is still a great 401(k) provider.

Can I add employer contributions to the Bitcoin 401(k)?
-Employers can provide employer matching and profit-sharing contributions.
-Employer matching contributions are contributions based on how much the employee contributes. A profit-sharing contribution is paid out regardless of the amount the employee contributes.
How can an employee buy or sell Bitcoin in the 401(k)?
-Based on the allocation preferences when an employee sets up their 401(k) distributions, the 401(k) administrator Leading Retirement Solutions will send the total amount of USD that will be converted into Bitcoin during that pay period. All of those funds will be automatically converted into Bitcoin at the Gemini exchange rate (which is the Gemini spot price + Gemini fee). The employee can choose to change those allocation period at any time by contacting Leading Retirement Solutions.
-If you want to sell or buy Bitcoin at a later point, email or log into your Kingdom Trust account and call the phone number they provide. All of the funds will be converted between Bitcoin and USD at the Gemini exchange rate (which is the Gemini spot price + Gemini fee).
How long does it take for employees to receive Bitcoin into their 401(k) after payday?
-It typically takes 2-4 business days after payday for the USD to be deposited into Kingdom Trust. It typically takes another 2-4 business days for the USD to be converted into BTC.

Bitwage Stock Forecast

How long does it take for a buy or sell order inside of the 401(k)?
-It typically takes 2-4 business days to process a buy or sell order inside of the 401(k).
Where can I find details regarding assets in the account?
-For details regarding the complete assets inside of the trust, go to the online portal of the 401(k) administrator, Leading Retirement Solutions, at
-For details regarding cryptocurrency assets inside of the trust, please email or login at
How do employees move funds out of the Bitcoin 401(k) to invest in traditional assets?
-The employee can initiate a movement of funds from the Bitcoin 401(k) into traditional assets either from Bitwage by emailing or by contacting Leading Retirement Solution, the 401(k) administrator.
-Funds must first be converted into USD before a withdrawal can be processed.
How do employees withdraw funds from the Bitcoin 401(k)?
-The employee can initiate a withdrawal of funds either from Bitwage by emailing or by contacting Leading Retirement Solution, the 401(k) administrator.
-Funds must first be converted into USD before a withdrawal can be processed.
Where can I learn more about the Bitcoin 401(k)?
-Email us at for a free 401(K) guide for employers.

As leaders in cryptocurrency payroll & invoicing services, we at Bitwage are always striving to innovate and push the industry forward. For our customers in the US, we have always likened the ability to get paid in Bitcoin similar to having a percentage of your wage be deferred into a 401(k). About a year ago, we thought about whether it would be possible to trade Bitcoin inside of a tax-incentivized 401(k) retirement account. We found out that due to IRS official guidance on the tax treatment of Bitcoin in 2014 as property, there have been many companies already offering Bitcoin IRAs, but no one has created a Bitcoin 401(k) Plan.

After 10 months of testing the product with Bitwage as the first customer, we are happy to announce the launch our company sponsored Bitcoin 401k. What this means is that companies can offer employees the ability to invest traditional/pre-tax and roth/post-tax 401k dollars into Bitcoin. For those that do not know, a traditional 401k allows pre-tax dollar investments with deferrals on income taxes until withdrawal and a roth 401k allows post-tax dollar investments with no tax obligations on capital gains for qualified withdrawals.

This is made possible through a 4 way strategic collaboration between Bitwage, Leading Retirement Solutions, Kingdom Trust and Gemini. Leading Retirement Solutions provides the administration and recording keeping for the 401(k) program to ensure Department of Labor and IRS compliance, Kingdom Trust provides a secure and regulated custody solution, Gemini provides a secure and compliant exchange solution and Bitwage acts as a concierge for the company and employees to navigate between all four companies.

So how does it work? Bitwage will initially limit the number of clients that can sign up. As such, the first thing to do is reach out to or apply at to inquire about setting up a Bitcoin 401(k) Plan. Bitwage will help the company create a 401(k) Plan with Leading Retirement Solutions and employee custody accounts with Kingdom Trust. Once these accounts are created, your 401(k) Plan is ready to go and can be funded on your next pay period and with rollovers/transfer from old retirement accounts, including IRAs, 401k, 403b, pension plans, and more!

All funds will be converted on Gemini automatically for each pay period. Employees will be able to choose to buy and sell between USD and Bitcoin as they want. Additionally, Leading Retirement Solutions gives companies access to over 20,000 different assets, including traditional investments like mutual funds and ETFs, as well as non-traditional investments, including private and public stock, joint ventures, real estate, notes and more. This means that employees will have all the traditional investment options available to them and will be able to freely switch between Bitcoin investments and traditional investments.

Why would someone want to invest in Bitcoin over time instead of 1 lump sum? Taking a look at our bitcoin dollar cost average calculator, you can see that if you started getting a percentage of your paycheck in Bitcoin at the height of the 2017 bitcoin bubble, on May 19, 2020, you would have over a 30% ROI as of May 22, 2020.

Why should companies care today about the launch of the Bitcoin 401(k) Plan? The short answer is the Payroll Protection Program. Many companies affected by the coronavirus have recently received funds from the SBA PPP loan program. Businesses and entrepreneurs understand that 75% of those funds must be payroll expenses in order to receive 100% loan forgiveness. A problem that many of these companies are facing is that paying out 75% of the funds during the 8 weeks following the PPP loan deposit has many issues, such as delays in rehiring furloughed employees.

Bitwage stock forecast

We are working with clients who want to use PPP proceeds to make contributions to a 401(k) Plan. It turns out that retirement benefits are included in the expenses that can be counted towards the 75% payroll expenses and they are not included in the $100,000 yearly salary cap per employee. This gives companies an opportunity to provide matching or profit sharing contributions to employee 401k accounts in order to help close the gap to receive full loan forgiveness. Together with the PPP program, the Bitwage Bitcoin 401(k) Plan allows employers to get more out of their PPP loans, while providing their employees new and innovative investment options.

Bitwage Stock Ticker

This is just the beginning for the Bitcoin 401(k) Plan. Our vision includes integrating a trading engine directly inside of the 401(k) Plan so institutional as well as retail investors have access to the same exchange-grade trading tools inside of tax-incentivized retirement accounts. Future development also includes access to different kinds of digital assets as the crypto token asset class continues to grow in popularity.