How to convert Bitcoin to cash

Welcome back. This week we are talking about Bitcoin life insurance and answering a frequently asked question. Let's get started. One common question investors have about Bitcoin is, can Bitcoin be converted to cash? The answer is yes. Bitcoin life insurance offers a way to convert your Bitcoin to cash in a tax advantage way. Let's discuss the cash value feature of a Bitcoin life insurance policy. Let's say you mined your Bitcoin or acquired it at a cost basis of around $25,000. As of this writing, Bitcoin has a value of about $125,000 which means you have a taxable Bitcoin gains of $100,000. First, congratulations. That is impressive. Second, do not give your hard-earned gains to the taxman. You can put that Bitcoin into a Bitcoin whole life policy and tap into your Bitcoin value tax-free. Here's how it works. Once you fund your policy, your Bitcoin goes into an account inside the policy. You can use it as collateral with a low-interest loan currently averaging about 3% with no fixed repayment schedule or margin call risk. The loan you receive will be in Bitcoin but you will receive it on a stepped up basis meaning you will receive it as a current market price so when you sell it you will not trigger any capital gains taxes or extra income taxes. Meanwhile, the Bitcoin in your policy continues to grow and grow. We at Florida Medicare Broker make insurance easier by also offering life insurance and annuities. If you have any questions about the information provided in this video, please leave a comment below or message us on Facebook or through our website. And don't forget to hit that subscribe button for more of our Medicare videos. Thank you for watching!