Attorney Joel Nagel spoke at the Miami Crypto Experience, which was held from April 21-23, 2021. Following his address, Nagel further discussed the relationship between cryptocurrency and asset protection with Richard Carthon and Steve Miller of the Crypto Current podcast.
In the podcast, Joel explained how he became so involved in the use of cryptocurrency as a component of asset protection strategy. Subsequently, Steve Miller asked Joel about how asset protection relates to the individual investor so that a novice would see the connection. Using a sports metaphor, Joel answered that the difference is similar to that of offense and defense in sports. The attempt to make money is offense while protecting what you have is defense. Joel endeavors to help people keep what is theirs before it comes under threat—whether those threats are through lawsuits, divorce, currency devaluation, or capital controls. Joel emphasized the importance of setting up protective structures before a problem arises, rather than afterwards, when it may be too late.
Joel further mentioned how one’s most important asset is oneself. He elaborated upon how one of the best ways to protect oneself is through obtaining a second citizenship or residency. He described the importance of the ability to leverage a different passport to go to a variety of places at times when travel may be limited, such as during the Covid crisis. The time to do that, however, was before COVID, and the time to do that for the future is now. As we have seen throughout 2020, the freedom to travel is not something to be taken for granted.
Joel also addressed concerns that people may have about the legitimacy of having citizenships in addition to that of the United States. He noted how there is nothing wrong with having a second or third citizenship and how the US itself has programs designed to expedite the process of becoming a green-card holder or citizen, specifically for large investors.
In addition, Joel went a bit deeper into his personal biography, explaining how all of his experience both as an attorney and as an ambassador for Belize has helped him get to where he is today—”32 years to become an overnight success.”
About Crypto Current
Crypto Current is a podcast that was created to spark the curiosity of the public about cryptocurrency. It is for both those already invested in cryptocurrency and for those just curious about the industry alike. Crypto Current provides unparalleled access to expert voices in order to bridge the knowledge gap and inspire people globally to get more involved in the crypto world.
