If you have added cryptocurrency to your digital wallet to diversify your financial portfolio, you may soon realize that its usability is still not entirely accessible. That is, this new type of intangible, digital asset still has limited mainstream merchant acceptance compared to traditional money. But regardless of how easily and how much you can use your cryptocurrency, the Social Security Administration (SSA) may seriously consider it if you are a Social Security Insurance (SSI) recipient or applicant. With all that being said, please continue reading to learn whether the SSA counts cryptocurrency as a resource in your SSI benefits application and how an experienced New Jersey SSDI benefits lawyer at The Law Offices of Sheryl Gandel Mazur can offer you financial advice ahead of petitioning.
Does the SSA count cryptocurrency as a resource for SSI eligibility?
Generally speaking, the SSA views and treats cryptocurrency the same way it would cash, bank balances, and other tangible financial assets in your immediate possession. This is ultimately because the SSI program imposes strict resource limits. As of 2025, this limit is $2,000 per month for an individual or child and $3,000 per month for a couple. And so, the SSA believes that your cryptocurrency may be quickly converted to cash and utilized to support your needs.
As you may already know, your cryptocurrency may be extremely volatile with drastic price swings. So while the value of your crypto may be low at the time of your SSI benefits application, it may unexpectedly spike while you are a recipient. You should know that the SSA conducts periodic reviews of your financial assets to ensure you still fall below the imposed resource limit, meaning that if this assessment occurs at a time when your crypto is up, your eligibility may be suspended or revoked.
How should I handle my cryptocurrency to remain eligible for benefits?
There may come a point where you need to determine whether it is more financially sound to collect consistent, dependable SSI benefits or keep your risky, volatile cryptocurrency. Well, before you make any drastic financial decisions, you must understand that the SSA has strict transfer-of-resource guidelines. These essentially hinder applicants from giving away assets, like transferring your cryptocurrency into a trust or gifting it to a family member, to artificially remain eligible for SSI benefits.
Further, the SSA will use a 36-month look-back period to check whether you gave away or sold your cryptocurrency for less than fair market value before submitting your application. Only certain types of transfers may be deemed acceptable here. For one, if you set up a special needs trust, but under strict limitations and extenuating circumstances. So, to prevent the appearance of fraudulently hiding your assets, it is best to speak with your lawyer and a financial advisor before handling your crypto.
In conclusion, we suggest you employ the services of a skilled New Jersey SSDI benefits lawyer from The Law Offices of Sheryl Gandel Mazur if you want the best possible chances at a positive legal outcome. We look forward to serving you.
