If you want to avoid the hassle of setting up a bitcoin retirement account, there are benefits to buying bitcoin directly from an exchange and holding it yourself long term. You’ll avoid having to pay middleman fees, which can become costly if you plan on making a lot of transactions. You’ll also be able to contribute as much or as little as you want, avoiding minimum and maximum contributions found in traditional 401(k) and IRA setups. This method also lends itself to the use of third-party software from companies like 3Commas, which automates exchange purchases so that you can more easily control your positions. There are drawbacks, however, to buying bitcoin on your own. Those include the fact you’ll have to pay more taxes on your returns than you would with an IRA or 401(k), and you’ll be responsible for securing your investments.