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In the spring of 2017, Kenneth M., a doctor in his mid-50s, wanted the right medicine to rejuvenate his retirement savings. Drawn to technology, he found himself watching YouTube videos of entrepreneurs discussing cryptocurrencies and their real-world applications. The underlying idea of a blockchain-a technical infrastructure over which information can move quickly, cheaply and securely-made his eyes widen. He was familiar with the barriers that prevent electronic health records from moving smoothly between medical service providers, and he became excited by the problems blockchain might solve.

A doctor liked the thought of making an investment in virtual currencies in a retirement account, because employing an IRA meant he wouldn’t need to worry about the tax implications of selling or buying within the account. By way of a Internet search, he discovered Bitcoin IRA, a three-year-old company that partners with the IRA custodian and a cryptocurrency wallet-such as a banking account for virtual currencies-to permit people invest.

So he dived along with a risky bet, sinking 15% of his retirement savings, or $350,000, into Bitcoin as well as other crypto-assets like Ether and Litecoin. Because he watched prices climb, he caught crypto fever, pouring in another $250,000 over the summer and deviating from his otherwise disciplined investment style. From May to December 2017, bitcoin IRA surged from $1,747 a coin to $13,545. Ether’s value rose by nine times. Today the physician’s Bitcoin IRA portfolio is worth $2.5 million, making up more than 50% of his retirement savings. “It should take me to do some rebalancing,” he says.

But he’s not ready to take his foot from the gas yet, and he’s not alone. Among the dozen or so Bitcoin IRA investors Forbes spoke with, only four have got money off of the table to secure gains. “There’s a part of greed, a element of anxiety about loss,” says Chris Kline, Bitcoin IRA’s COO, who suggests customers put from 5% to 20% of the retirement assets in virtual currencies.

Bitcoin IRA, located in Sherman Oaks, California, isn’t a monetary advisor, and it’s not regulated from the SEC like Vanguard or from the Federal Reserve like Wells Fargo. It’s a largely unregulated “financial conduit” that utilizes self-directed IRAs, which were around because the government created IRAs in 1974. Self-directed IRAs let people hold nontraditional assets like property, gold and virtual currencies in a retirement account. Since cryptocurrencies are transferred and stored in unique ways, Bitcoin IRA has carved out a distinct segment to aid investors address security challenges. Should you hold Bitcoin, you want a private key-like a password, simply a string of numbers and letters-to move your hard earned money. So extra security is essential, and that’s Bitcoin IRA’s primary value proposition.

The organization partners with Bitgo, a Silicon Valley cryptocurrency-security startup that works as a wallet and creates three unique private keys connected with an investor’s Bitcoin IRA account. Bitgo stores one key itself, gives another for the IRA custodian, Kingdom Trust, along with a third to keytern.al, a startup which offers recovery services in case your key is lost or damaged. Many of these keys are stored from the internet, in “cold storage” locations. For the time being, residents of New York State can’t use Bitcoin IRA because Kingdom Trust doesn’t possess a BitLicense, a state requirement of companies that hold cryptocurrencies.

Any investor can produce a self-directed IRA without using Bitcoin IRA, and then there are attorneys and specialty firms like San Francisco’s Pensco Trust that may help you invest in a host of alternatives. Investing in a cryptocurrency IRA yourself may require that you set up an LLC to get the tokens, and you will need to select an exchange, a secure wallet plus an IRA custodian. For its one-stop access to pure-play cryptocurrency IRAs, Bitcoin IRA charges steep upfront fees of 10% to 15%. In addition to that, Kingdom Trust charges about 1% a year on assets.

The wheeler-dealers behind Bitcoin IRA are Chris Kline, Johannes Haze and Camilo Concha, who also run Fortress Gold Group, that helps people invest directly in gold through their IRAs. First-mover advantage and aggressive Google promotional initiatives have allowed those to build the biggest presence inside the crypto-asset IRA space, with near to 4,000 customers and $105 million in inflows given that they began accepting funds in June 2016. Those assets have ballooned to about $287 million because of cryptocurrencies’ soaring prices. According to the company, their average Bitcoin IRA investor earned a 172% return in 2017.

No surprise that levels of competition are coming. Two newcomers, Noble Bitcoin and CoinIRA, offer similar services, with fees ranging from 10% for an outrageous 25%, according to which token you spend money on. Fidelity, Vanguard and Charles Schwab don’t offer self-directed IRAs or cryptocurrency IRA products. But investors in traditional IRAs can select to allocate money to funds like Kinetics Internet Fund, that has 28% in Bitcoin, or American Beacon Ark Transformational Innovation Fund, with 8% in Bitcoin.

Must Read: An Intrepid Investors Guide To Bitcoin As Well As Other Crypto Assets

As in any hysterical gold rush, you can find tales of lottery winners. At 60 yrs old, Randy Krafft of Terlton, Oklahoma, retired from his job as being a hospital supply-room manager to care for his wife, who had cancer. He saw his retirement savings decrease from $245,000 to $132,000 over eight months, before she passed away. Per year later he threw a proverbial Hail piclne and dumped all his retirement funds (which amounted to $118,000 after fees) into Bitcoin IRA. Today his retirement account stands at greater than $500,000, and then he has plans to travel and make renovations.

In July 2017, Simpath Srinath of Atlantis, Florida, took a five-week hiatus from his job as an IT manager for his wife’s medical practice to check out cryptocurrencies. Right after the 62-year-old pulled his head up, he thought, “This really is something which will absolutely change the future of finance.” They have since doubled his IRA to greater than $2 million, now he’s telling all his friends, “Proceed to invest-at least 5%.” Steven Phung, a risk-loving real estate developer from Pasadena, California, who lost 80% of his wealth inside the financial crisis, has turned $500,000 into $1.4 million through Bitcoin IRA.

Of course, with Bitcoin prices whipsawing daily, including its recent swoon from nearly $20,000 in December to $10,000 per month later, these crypto-retirees are rolling the dice. Perhaps the only model for responsible Bitcoin IRA investing is the case of Kelly Nguyen, a 45-year-old entrepreneur in La who sold her specialty pharmacy business, that have revenues of around $160 million, in 2012. Nguyen was already retirement rich, so she committed only 10% of her retirement savings to Bitcoin IRA. After quadrupling her holdings, she cashed out 75% of her initial investment. Now she’s gambli.ng with mostly winnings. “I hardly examine my account,” Nguyen says, noting crypto’s hypervolatility. “It may be painful.”