Establishing an Investment LLC with Bitcoin
Governments, companies, funds, small businesses, and individuals over the age of 18 can invest bitcoin in an LLC. Investing bitcoin in an LLC presents relatively low barriers to entry.
To start an investment LLC, gather information on all the owners/members who will want to be part of the LLC. File documents to form your LLC with your state, and pay the filing fee. Obtain your EIN (tax ID number) from the Internal Revenue Service. Establish an operating agreement that defines the LLC’s operations.
Opening a Coinbase Business Account
Coinbase has regular accounts for individuals, and institutional accounts for legal entities like LLCs. To sign up for the institutional accounts you’ll need the LLC name, country and state of formation, tax ID number and more.
Coinbase business accounts allow you to trade under the name of your company and use company-linked bank accounts. Institutional investors are one of the primary beneficiaries of this account type. It allows you to maintain a clear line between your personal and professional lives.
Coinbase Business Account Details
- A Coinbase business account is simply an account that’s under a company’s name instead of an individual’s.
- Businesses can choose between the Coinbase and Coinbase Pro account types for investments.
- Both accounts have the same security capabilities.
- Coinbase Pro may actually cost less in fees.
Other Information
Self-Directed IRA-LLCs, QRPs, QRP-LLCs, and Solo 401k Plans can buy and sell Bitcoin and other cryptocurrency the same way they can invest in various assets.
Required Documentation for Limited (LTD)/Limited Liability Company Onboarding: Upload government-issued ID like Passport.
As a regulated financial services company, Coinbase is required to identify its users. Verification of identity is necessary.
FAQ
- Can an LLC open a Coinbase account?
- Can my business have a Coinbase account?
- How long does it take to open a Coinbase business account?
- Why did Coinbase give me $5?
- Why is my Coinbase account restricted?