And I’ve been working for them forever and I said, hey, we got to talk about owning a crypto LLC. And you had said you didn’t even think about it, right? Well, it was your idea, Ninja. I mean, you came up with the idea of the crypto LLC and thank thank you for that. Oh, it was my pleasure. But you’re the smarter one. So you just ran with it and you started all these documents and all this stuff. Armory protection, I mean, came into play, but and we want to get into that. But what was cool about it is we were able to show a lot of people and I think hundreds, if not thousands of people signed up because I said, look, I’ve worked with you guys.

I love I love your company, right? Love all the people that work there. And this is all you do. And you set up LLC and entities all around the country. We do. But what was really cool about this is a lot of people that are investing in crypto just figured out, wait a minute, I could start my own company, which means I can get some legal tax write offs. And not only that, but protect myself. So do you mind talking about that? Like what what has been sort of the light bulb moment with a lot of people that went from cryptocurrency investor to cryptocurrency company owner? Well, I mean, it’s akin to having a stock portfolio, right? If you own stocks and bonds in your individual name and get sued, someone can reach them.

So we’ve always put stocks and bonds, brokerage accounts in LLCs, especially Wyoming LLCs, which makes it tough for someone who has a judgment against you, someone who’s trying to collect to reach because Wyoming offers the charging order protection, meaning someone can’t barge into the Wyoming LLC and force a sale of all your assets. They have to wait till distributions are made. Well, with a stock account, you may not make distributions. So when you brought up the idea of the crypto LLC, it just tracks with what we’ve been doing for people who are in the stock market.

We have their account set up in the name of an LLC. And you buy your crypto in the name of the LLC. So on the wallet, on the blockchain, your LLC is listed. Now, if you bought the crypto in your individual name, we then have to transfer it into the LLC and we provide transfer agreements. You want to have it notarized so you can prove the date. But this has been a great way for people to protect themselves because no one really thought about how do I protect my crypto. They just bought it in their individual name.

Yeah, it’s funny. And I want to get to those documents with Ted in a second because Ted’s the contract law guy, right? And that’s really important because keeping all this stuff tight and high and tight is really important. But I had already been doing this myself using an entity that Corporate Direct started. And I’m going to throw a link down below. It’s a really cool affiliate link because it gives you $100 off and a free 15-minute consultation. Okay, so they answer a ton of your questions. But what was really cool is when I talked to Garrett about it, I said, I started a full-blown company.

I started an entity. I went and got up an office. I had a business partner. We were managing members of that entity. Then I went and started an institutional trading account with Gemini and Coinbase. I had a handful of them. And everything, the bank account, all that stuff’s in the entity name, which was really cool. We had a full-blown business. We did staking, crypto mining, and we did investing in that. So it was really cool. Now, transferring over these documents is really important because, Ted, what about that document that you guys created to actually have that legally binding transfer from somebody’s personal, let’s say, Bitcoin, and their Bitcoin address to an entity’s? How does that work? Yeah, so what you do is, well, we have the transfer agreement.

So what you do there is you list the crypto that you own in your individual name. You can list the wallet address, as well as the value of the crypto at the time of the transfer. Then you need to get it notarized. Having it notarized is really key because that acts as a timestamp for when the transfer took place. One way I like looking at it is you look at it from the perspective of a judge. So if you get sued personally, you get into a car accident or your dog bites someone or something like that, there’s a chance you’d have to go to litigation.

You go to court. You end up losing in court, which I mean, in this day and age, it’s a coin toss. So if you lose in court, you get a judgment against you. The judge will ask you what assets you own. If you have that transfer agreement that shows that those assets are in the LLC instead of your individual name, the liability protection is totally different. Because if it’s in your individual name, the judge can force you to sell your crypto. Given how crypto assets have appreciated over time, that could be a problem. But if it’s in an LLC, a Wyoming LLC in most cases, then you get the charging order and that person can only reach the distributions if you make them.

So it puts up a barrier between your individual liability and then the assets inside the LLC. So having that transfer agreement is really, really key. Perfect. So now you may be watching this and going, okay, Ninja went full blown. He started an entity, a bank account in the entity’s name, then a cryptocurrency exchange in the entity’s name. And then he funded the bank account and bought the crypto. That’s how you just go big, right? When I go to the IRS and say, I’m filing my tax return, the LLC, I get special deals with write-offs.

I’ve got an office. I got certain things all within legal bounds. And you’re going, well, wait a minute though. He’s just talking about, I have a personal crypto, let’s say a Coinbase exchange. And then there’s a document. What do I do after that? Now, let me explain something that really tightens all of this up. And this is what Corporate Direct does really well. You don’t want to leave the crypto in your name there and just say, oh, I’ve got this document that says it’s now owned by the LLC. Wouldn’t people then take that and put it into like a cold wallet and then that’s held? Or can they, and this is the big question, it’s going to make it a lot easier for you.

Can they keep it in that account? But because that document is now signed and notarized and has the date and the crypto wallet addresses, it’s held by that entity even though that exchange is in their personal account. Yeah, so my recommendation would be to, if you can switch from a personal to a business account, even though in my experience dealing with some of these platforms, it could be a little bit difficult. Some are harder. I believe Kraken and Coinbase are a little bit harder. But there’s easier ones out there like crypto.com.

So ideally, you’d set up a business account. But if it’s in your personal name and then you show it’s transferred into the LLC and you run everything through your LLC bank account, then that’ll show that you’re following the formalities and you’ll be protected. Perfect. It was like a test and you pass it perfectly. So let me explain this really easy because Ted is really good at contracts and this is how it works. Once you do the transfer, you say, I’m going to start a crypto LLC. You have a personal account, let’s say with one Bitcoin in there.

It’s worth 112, 120 grand. You then put the document in with your LLC that it is now being transferred over to the LLC, but it doesn’t stop there. Then what you do is you either move it to cold storage while you wait or you immediately start a crypto exchange in the name of the LLC. It’s called an institutional trading account. There’s a little hoops. It’s not that difficult at all. Then what you do, because you have that document, you simply take that crypto and you transfer it into that company’s name. What’s really cool about that is you can set up a second layer of protection that shows the date and the actual transaction ID that shows that it was transferred from one account to the other.

It’s already been set up because of the documentation they did, but it makes it so legally binding. It is now in the name of the LLC. Right. That make sense? Yeah. Do it good? Okay, cool. Sweet. So what is another thing? Were you ever an attorney? I get asked that all the time. Actually, when I was little, they’re asking that kind of stuff. But no, it’s really cool because one of the courses we talked… Well, actually, the link down below, you’ll see when we started that day, Garrett comes in and he goes, what are we going to talk about? And I go, we’re just going to figure it out.

And he goes, well, I’ve got to see all the videos that you’ve done by yourself to make sure they’re legally correct. I’m like, yeah, no problem. And I asked him, were they okay? And he goes, yeah, everything was great. And he’s all… But you like a hiccup or something in the middle. I’m like, we’ll leave the hiccup. But everything was right. And when we sat down, it was as simple as Garrett’s like, what are we going to talk about? I’m like, we’re just going to pretend we’re in the golf cart. And our buddy wants to protect his assets.

And so we’re just going to start talking. And that was how the course went. And it’s been amazing, because not only are people getting the $100 off and they’re getting the free consultation. I’ve got comments from people, and we’ll do it in another video actually, they would never have done this if they hadn’t seen this video and their whole lives are changed because not only are they protecting themselves, they’ve got their own company. Can you imagine the confidence that people come out and say, oh yeah, I invest in crypto, but I have a blockchain-based company.

That’s the truth. Because you do it all legal and straight. That’s right. Awesome. That’s right. And you do want to take these steps. Too many people, like with real estate, they form the LLC, but they don’t transfer title into the name of the LLC. So we have the same situation here. You form the LLC, but then if they’re… Excuse me. No, no, there’s no editing. Nope, there’s no editing. This is the Ninja’s channel. It’s not that fancy. Ninja channel car. Is that my Porsche? There’s a gym parking lot next door. It’s just some meathead just hitting his head against the wall right now.

It could have been like a road rage. Hey, wait, there’s something I want to add because you bring up a really good point, and this is something really important. What Gary was saying, it’s really important in the beginning what you do. You transfer the assets into the right name. You have the bank account in the right name. Everything’s legit and legal, so you don’t pierce the corporate veil. Here’s something that’s really important. What happens next year? They have a product that I pay for every year, and what they do is they send you a document, a questionnaire to fill out.

Have you taken any employees, any big corporate events, big purchases, all that kind of stuff, right? And then they personalize and create next year’s meeting minutes. You guys want to talk about that? Like how much it’s very inexpensive for what it is. And so one of the corporate formalities that is required by law is that you have one meeting a year. Yep. And you elect the officers and directors. Mine’s going to be in Cabo. Sorry, you can do that. So you have one meeting a year, and to prove that you had one meeting a year, you have to prepare what are called minutes, right? They’re not hours, they’re minutes.

It doesn’t take long to prepare them. We do it for people because so many people just don’t do it, right? And it’s like going to the dentist. They don’t want to mess with it. So we have a service where we’ll do the minutes for you every year. Now, if you get called into court and they want to see your minute book, have you been following the corporate formalities? If you don’t have those minutes in place, they can pierce through the corporation and get at your personal assets. That’s right.

So you’ve set up the corporation for protection, but you haven’t followed these annual requirements. So we want to make sure you’re covered all the way through. So we’ll prepare the minutes for you on an annual basis. You also have registered agents. That’s another thing you need to look at too. Having a registered agent, not only to hide your identity and your sovereignty, protection, all that kind of stuff, but it just makes it a lot easier. Right, yeah. So Ted can talk about the registered agent. Let’s talk about that, Ted. Yeah, for sure.

So having a registered agent, commercial registered agent is important because it provides you with some privacy. Because I’ve seen some people who set up an LLC in their state and they list their home address as their registered agent. And if you have your home address, you could do a simple property search and you can infer how much wealth you have. If you sue a business, you see the registered agent’s your home address. It could cause trouble there. But another thing is that the registered agent address accepts service of process during a lawsuit.

And a lot of the things is that the process servers operate between 8 a.m. and 5 p.m. Monday through Friday. So if you use your home address, there’s a good chance you’re not going to be home. Yeah. And so you run that risk of having a default judgment entered against you where they try to serve you but you don’t get notice. And then without any knowledge, you have a judgment entered against you, which is something that nobody should ever be in. So having a commercial registered agent’s key because it provides you privacy and notice when you get a lawsuit.

And so we offer that service in all 50 states. So if you set up an LLC in another state, you need to have a registered agent anyway. So it just makes people’s lives easier. Yeah. Well, I’ll tell you what, they say in life or in business, you get what you pay for. I actually can’t say that in this situation because yeah, you could go see Ben Shapiro and whoever he owns, whatever, online stuff and that’s total crap. Sorry, I’m just, it’s true. But they aren’t overpriced. I’m not joking. Go check them out.

There’s a link down below and you’re going to get $100 off because you’re using the link because we set that up. It’s like I get a little, you get a little and we split it. It’s true. And then you also get the free consultation, which is incredible. So if it doesn’t work for you, it doesn’t work for you, but I’d check it out. Start a crypto business and protect yourself at the same time. Thank you guys so much for being on. Thank you, Ninja. The economic Ninja is out.

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